The oil ministry has accepted the key
recommendations of the Kirit Parikh committee on domestic natural gas pricing and begun consultations with other ministries before it sends a proposal to the Cabinet.
(WO) — Director General of the Petroleum Directorate of Sierra Leone, Foday B. L. Mansaray, asked investors to maximize the country’s upstream potential during the Invest in African Energy reception in London on Jan.26.
Shell will combine its oil and gas production and liquefied natural gas (LNG) division as part of Chief Executive Officer Wael Sawan’s changes to the energy giant’s structure.
The Tanzanian government has signed a Memorandum of Understanding (MoU) with United Arab Emirates (UAE) National Oil Company (ENOC) for the construction of petroleum receiving and storage infrastructures.
Saudi Aramco has signed more than 100 agreements and memoranda of understanding (MoUs) worth $7.2 billion to support the local industrial and manufacturing sectors, the Saudi oil giant said on Monday as the Kingdom looks to have more local content in the industrial supply chains.
Rystad Energy expects the global market for oil and gas contractors to rise to a peak of $1 trillion in 2025 and remain at high levels for several years thereafter. Helped by strong growth in the midstream part of the industry to liquefy, transport, and re-gasify natural gas, overall oil and gas spending will stay above $920 billion annually on average for the 2022-2028 period.
China is back, and even the most ardent skeptics of Beijing’s policy easing will be compelled to admit that there is great upside in global oil demand in 2023. China has been allocating huge export and import quotas, nudging its oil refiners as hard as possible.
Oil prices fell on Tuesday as the threat of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China.
The Ministry of Energy has terminated negotiations with four oil companies after more than two years of unfruitful negotiations for petroleum agreements over their respective blocks.
Q: It’s a new year and what should Ghanaians expect from the oil and gas industry with regards to revenue to government, exploration and production?
A: Government will continue receiving royalty, taxes and oil liftings as per the provisions of the Petroleum Agreements it has signed with the different companies that have invested heavily in the sector. In 2021, the industry contributed about GH11.63 billion to Ghana’s GDP; roughly 7%, and we are hoping for an increase this year.