Global oil prices settled lower Friday for a third day in a row as the US dollar rose to the highest level in more than a month in the wake of the move by the Fed to pencil in three possible rate cuts this year, dovish remarks from the Bank of England and the surprise rate cut from the Swiss National Bank.
China’s largest oil refiner Sinopec (0386) saw its net profit fall about 13 percent to 58.3 billion yuan (HK$63.87 billion) in 2023 from a year ago due to decreased energy prices, and announced a final dividend of 0.2 yuan apiece.
Oil prices rose on Monday after three days of declines, driven by tightening supplies amid escalating geopolitical tension in the Middle East and an intensifying Russia-Ukraine conflict.
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday.
– Canadian crude will start flowing to China directly (up until now it has only been exported from the US Gulf Coast) as the impending launch of the Trans Mountain Expansion pipeline saw the first deals being made.
In a notable departure from conventional norms, Opoku-Ahweneeh Danquah, the Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC), is reshaping leadership within the public service. He is spearheading systematic initiatives aimed at revitalising the domestic oil and gas sector.
One of Ghana’s biggest Oil Refineries, Sentuo Oil Refinery is not only creating employment opportunities in Ghana, but is determined to touch the lives of many through its Corporate Social Responsibility(CSR).
Russia-Saudi oil cooperation is still going strong as part of the OPEC+ alliance, which will do “whatever necessary” to support the market, Saudi Energy Minister Prince Abdulaziz bin Salman told a conference on Wednesday.
Moscow is nevertheless not in competition with other top oil-producing and exporting nations, the foreign minister says
Foremost gender equity advocacy group in Nigeria, the Women in Energy Network (WIEN), has expressed delight at the Oil and Gas Companies Order 2024 just released by President Bola Ahmed Tinubu.