Crude oil physical markets in Europe and Africa have weakened in response to peak refinery maintenance and extra supply from the United States and Saudi Arabia, dampening the impact of Red Sea shipping delays, according to traders, flows data and analysts.
Tullow has affirmed its commitment to Ghana’s socio-economic growth through its operations in the country.
With crude oil production showing no sign of significant improvement in the country, the Federal Government has expressed concerns over the capacity of the industry to meet its domestic crude obligations to local refineries, insisting that supply to local refineries remain a priority.
Offshore energy’s trade body is pushing back against campaign damage to its reputation and political harm to its prospects.
Unpredictable tax changes on Britain’s oil and gas production are making the industry “uninvestable” to internationally mobile finance, it is claimed.
While climate change campaigners say fossil fuel emissions are already busting temperature limits, the case for continued supply is that there will continue to be demand.
Oil prices fell for a second day, dropping more than 1% on Wednesday on surging U.S. stockpiles and signs that the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week.
Iraq-Turkey pipeline shut since March 2023
Baghdad: around 225,000 bpd being produced without its oversight
APIKUR says terms of current contracts must be maintained
US encourages restart, State Dept. spokesperson says
Angola aims to hold and increase oil production beyond 1.18 million barrels per day (bpd) while positioning the gas sector to account for 25% of the country’s energy needs by 2025. To achieve this, government is inviting investment into exploration and production, with industry reforms guaranteeing both a competitive and stable investment environment.
Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition
Shafaq News/ Iraq’s oil ministry on Tuesday said investments in gas resources is a top priority for the government as it prepares for a new bidding round.
Kazakhstan’s GDP is expected to grow at a moderate pace in the next two years, driven by oil and consumer spending.
Inflation is likely to remain above target in the short term, but is projected to decline over time.
The World Bank recommends reforms to improve the effectiveness of monetary policy and reduce the budget deficit.