Despite declining domestic production and ambitions to pivot away from fossil fuels, oil and gas still meet three-quarters of the UK’s energy needs, with gas alone supplying over 85% of domestic heating and cooking for homes and often providing more than half of electricity generation during low renewable output.
BP, which announces its half-year results on Tuesday, said last month that it would sell its share in 10 US onshore windfarms to the New York-headquartered LS Power. On Monday it launched its 50:50 offshore wind joint venture with the Japanese wind company Jera worth up to £4.5bn, which it plans to use to gain some access to zero-carbon wind energy developments while focusing on fossil fuels.
The performance reflects stable global oil prices and adherence to the Petroleum Revenue Management Act, managed by the Bank of Ghana. This revenue stream supports fiscal resilience under President Mahama’s administration amid broader economic recovery efforts.
Ghana is on the path to energy self-sufficiency as Genser Energy develops a 200 million cubic feet per day gas processing plant in Prestea, Western Region. Ghana currently produces 380 million cubic feet of natural gas per day, which falls short of its daily peak needs of 460 million cubic feet.
Technip Energies is a global engineering and technology company serving the energy industry. It specialises in LNG, hydrogen, sustainable chemistry and CO2 management, and has delivered over 20% of the world’s operating LNG capacity. The company also leads in modular and innovative project delivery models worldwide.
SLB OneSubsea has been awarded an EPC contract by Equinor for a 12-well all-electric subsea production system at the Fram Sør project offshore Norway, the company said on Monday.
Yinson Production has completed the buy-out of the project loan tied to FPSO Atlanta from Brava Energia S.A., paying a total of approximately $257.4 million in cash, including $255.5 million in principal and $1.9 million in accrued interest.
Following its debut at the Guyana Energy Conference and Supply Chain Expo in 2024, MODEC has returned to this year’s event with a stronger resolve to build lasting partnerships in the local energy sector. The company’s Country Manager, Rafael Fumis, took the opportunity on Tuesday to reaffirm the company’s long-term commitment to Guyana while highlighting its ongoing investments in local capacity development.
Trading houses Vitol and Glencore will receive $380 million in compensation after their gas supplier, trading firm Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer for non-delivery of cargoes, court documents seen by Reuters showed.
President John Mahama has revealed that global oil giant Shell has submitted an offer to participate in Ghana’s Pecan Oil Field project, marking a significant step toward advancing the country’s oil and gas sector.