Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China.
OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said.
The Power Energy Ghana Exhibition – a complete international exhibition of the power/energy sector – is set to take off in Accra next month from November 14-16, 2022 at the Accra International Conference Centre.
Minister of Trade and Industry, Alan Kyerematen has expressed
confidence that the establishment of the Sentuo Oil Refinery Limited
will dampen demand for foreign exchange meant for imports.
Dr Matthew Opoku Prempeh has said the country stands ready to attract the necessary investments into its upstream petroleum sector o bring wealth and growth to the country.
Europe’s two largest energy companies Shell and TotalEnergies reported profits of more than US$9 billion in the third quarter, though Shell’s liquefied natural gas (LNG) division struggled to capture the benefits of high fuel prices.
Guyana’s emerging upstream petroleum industry is set to receive technical assistance and practical learnings from Ghana as part of efforts to spur on the development of its industry.
Despite weaker oil prices during the third quarter, the oil industry is still booking strong financial results. According to some, this is “awkward” because it is happening during a time of economic hardship. Besides being awkward, however, Big Oil’s profits will likely draw more political pressure from desperate governments.
Fossil fuel consumption is expected to peak or plateau within this decade, accelerated by the policy and trade flow shifts following the Russian invasion of Ukraine, the International Energy Agency (IEA) said on Thursday.
Prempeh has said the country stands ready to attract the necessary investments into its upstream petroleum sector o bring wealth and growth to the country.