Cybele Energy, a Ghana-based independent oil and gas company, has announced plans to immediately begin exploration activities on its shallow-water offshore Block S7 in Guyana, days after signing a production-sharing agreement (PSA) with the South American country’s government.
Technical Advisor at the Ministry of Energy and Green Transition, Dr Yusif Sulemana has reiterated government’s commitment to maintaining oil and gas as a central pillar of Ghana’s economic and industrial development, even as the country advances its green transition agenda.
Somaliland President Abdirahman Mohamed Abdullahi “Irro” has said the region expects oil and mineral exploration to officially begin by 2027.
Egypt plans to drill 480 exploratory wells with total investments estimated at $5.7bn over the next five years, Minister of Petroleum and Mineral Resources Karim Badawi said on Monday, as the country seeks to reverse a decline in natural gas output.
Eni’s latest discovery in Indonesia reinforces the Kutei Basin’s reputation as one of the hottest global exploration plays of recent years.
Noorulhaq Anwar, Director General of Administrative Affairs, announced on Sunday that the Islamic Emirate has approved plans to create an independent oil and gas authority.
The benefits of alternative fuels are less pollution, fewer greenhouse-gas emissions, and cleaner seas and skies.
Crude oil and gasoline prices are under pressure today, with crude oil falling to a 1.75-month low and gasoline posting a 4.75-year nearest-futures low.
Falling oil prices and strengthening Russian currency are set to slash Russia’s oil and gas revenues by nearly 50% in December from a year earlier, to the lowest level since August 2020, according to Reuters calculations.
OPEC kept forecasts for global oil supplies and demand in 2026 steady, pointing to a balanced world market that clashes with widespread predictions of a surplus.