An alliance of African think tanks active in the areas of governance, anti-corruption and energy policy has called for transparency and accountability for projects in the energy sector.
Significant global economic uncertainties in the coming months made OPEC cut on Monday its estimate of global oil demand growth for this year and next, in the fifth reduction of consumption forecasts since April.
The anticipated shift of Russian crude oil flows, skewing toward Asia, is well underway ahead of the December 5 oil embargo, according to Bloomberg.
A week ago, the Energy Information Administration (EIA) released its latest Short Term Energy Outlook (STEO) wherein it revised its 2022 and 2023 oil production outlook. The EIA revised 2022 U.S. crude oil supply higher by 80 thousand barrels per day (kb/d) to 11.828 million barrels per day (mb/d) and crude oil supply growth for 2022 higher by 80kb/d to 574kb/d
After a series of dry wells were drilled in the Guyana-Suriname Basin from the 1960s through to the 1980s, offshore Guyana and Suriname were ignored by global energy companies. Interest was reignited by ExxonMobil’s discovery of the Liza oilfield in the 6.6-million-acre Stabroek Block offshore Guyana in 2015.
It seems that the global economy has been in a continuous state of flux this year. The headlines are repetitive to the point of being preposterous. This uncertainty has translated into high volatility that sent the fear gauge, VIX, to a 150-day high last month. It still remains elevated (albeit down from its recent peak), with most analysts seeming to fall into one of two camps. The first is worried about recession-induced demand destruction, while the second frets over the loss of supply. While both narratives have merit, in the short term it is demand destruction rather than a supply crunch that markets will have to deal with.
Oil prices fell on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer.
Genser Energy has been praised for giving opportunities for more Ghanaians to work in providing energy solutions to the industrial and mining sectors of Ghana and other parts of Africa.
Energy Minister, Dr. Matthew Opoku Prempeh, has reaffirmed Ghana’s strong commitment to promoting clean cooking anchored on its 2030 agenda of 50% of its population having access to Liquified Petroleum Gas (LPG)
Fossil fuel lobbyists outnumber every national delegation but the UAE’s at the Cop27 climate summit and their influence shows – on the sidelines and in the negotiations.