The upstream petroleum industry awarded contracts worth US$3.6billion to indigenous companies over the last three years, thereby deepening the local content policy.
Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes
“The European energy sector right now is cracking at the seams. Without the contribution of UK oil and gas resources, that crack would be a gaping hole,” said OEUK Sustainability Director Mike Tholen.
While energy prices are still below their most recent highs, they’ve been ticking upward again more recently.
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand.
Tesla CEO and world’s richest person Elon Musk on Monday backed additional efforts to drill for natural gas and oil in the short term, in line with his recent change in tune on the use of non-renewable sources like fossil fuels and nuclear energy.
Tullow Ghana has been recognised as the Most Transparent Shipper and Best Company in Local Content Delivery at the fifth edition of the Ghana Shippers Awards held over the weekend.
Oil prices rose 1 percent on Monday, as expectations OPEC will cut output if needed to support prices, conflict in Libya, and rising demand amid soaring natural gas prices in Europe helped offset a dire outlook for growth in the United States.
Western countries are trying to cut the amount of Russian oil and gas they import following the invasion of Ukraine in February.
Oil and gas exploration and production (E&P) firms globally could generate combined cash flows of a record $1.4 trillion this year, thanks to high prices in the ongoing readjustment in the energy markets, Deloitte said in a new report on Thursday.