There is great optimism around the future of biofuels, which may offer a low-carbon alternative to several widely used fossil fuels if given the necessary government support to help develop an international biofuels industry within the coming years.
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 3.9 million barrels for the week to November 4.
Oil prices edged lower as industry data showed US crude stockpiles rose more than expected and on worries a rebound in COVID-19 cases in top importer China would hurt fuel demand.
The Defence Minister, Dominic Nitiwul, has revealed that an amount of 400 million dollars is needed on a monthly basis to import fuel into the country.
The government has been advised to re-focus on maximising the capacity of the Tema Oil Refinery (TOR) in the current challenge of fuel price hikes to help reduce the burden of ordinary Ghanaians.
Italian oil and gas major, Eni, has made an oil discovery at the Aprokuma-1X well at the Cape Three Points offshore Republic of Ghana, energynewsafrica.com can report.
Guyana will offer 14 offshore blocks under a newly revised production sharing agreement, Vice-president Bharrat Jagdeo announced on Wednesday.
A German economist has filed a lawsuit against OPEC with a Berlin court, accusing the cartel of pushing up the prices of the gasoline and heating oil he is buying, Bloomberg Opinion columnist Javier Blas reports—and despite the paltry sum, the suit could end up costing OPEC more than it can afford.
Price caps are all the rage these days on the energy scene. The European Union is capping the price of gas and the G7 group is trying to cap the price of exported Russian oil. Both amount to direct market intervention of the sort normally associated with authoritarian regimes.
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.