While renewable energy sources such as wind and solar were once seen as the future of energy, they are currently facing significant challenges. Their growth has slowed due to high costs, inefficiencies, and issues related to energy storage. These challenges are leading to a decrease in investment in renewables, as companies and governments look for more reliable and affordable energy solutions.
The African Energy Chamber, an advocacy group, has also argued that Africa has a “sovereign right” to develop its natural resources, which, according to the group, includes 125 billion barrels of oil and 620 trillion cubic feet of natural gas.
Commenting on the recognition, Tullow Ghana Managing Director, Jean-Medard Madama said: “It is always a pleasure when you are recognised for the commitment and dedication to your line of business. We are grateful to the Chartered Institute of Supply Chain Management for acknowledging our hardwork with these awards.
The oil and gas sector faces a pivotal moment in 2025 as it deals with complex dynamics from global tensions, evolving policy directions, and rising innovation. The stable pricing in 2024, after many decades, now faces hurdles due to geopolitical stresses, energy transition demands, and economic shifts. Companies are keeping tight capital control while boosting tech productivity, as analysts predict oil will stay between $70 and $80 per barrel. However, geopolitical instability and unpredictability could push prices higher.
Under the terms of the transaction, Tullow will receive an initial cash payment of US$40 million upon completion, followed by another US$40 million by June 2026 or upon the approval of a Field Development Plan. A final US$40 million, contingent on future oil prices, will be paid over a five-year period starting in 2028, with any outstanding balance to be settled by 2033.
The European Commission is investigating whether it would be possible to legislate a continent-wide ban to sign new contracts for Russian fossil fuels, primarily geared to block EU buyers from spot purchases of Russian LNG, still 15% of the continent’s gas needs.
WTI is trading up on the day, but still slightly below what the Dallas Fed Survey says is the breakeven for Permian players, with drilling activity in the basin holding fast at 289—a figure that is 29 fewer than this same time last year. The count in the Eagle Ford also stayed the same this week, at 47. Rigs in the Eagle Ford are 8 below where they were this time last year.
The Trump administration appears not to be in a rush to close any trade deals with those eager for them. Reuters reported that no deals at all were signed during last week’s IMF-World Bank Spring Meetings, which saw world leaders gather in one place to discuss trade. This suggests extended tariff uncertainty, which means extended oil price uncertainty.
Four cargoes of propane have shifted their routes from China to alternate destinations over the past week, bound for countries including Japan and South Korea, according to a report from analytics firm Vortexa. At least one cargo of ethane — which is used in plastics production — has been scrapped entirely, according to a person familiar with the matter.
DV Group has been gradually expanding its footprint in commodities for years, from hiring a senior coffee trader to several fuel and natural gas traders last year. The firm plans to continue growing in natural gas and power, which has been a significant driver of profits at top multistrategy hedge funds, including Citadel and Millennium