Major oil-producing countries led by Saudi Arabia and Russia agreed on December 4 to maintain their current output levels in a climate of uncertainty and ahead of fresh sanctions against Moscow coming into force next week.
Earlier this week, oil prices plunged to 2022 lows as energy markets panicked about demand amid COVID chaos in China that has resulted in an unexpected and extraordinary manifestation of street protests and even calls for Chinese President Xi Jinping to step down.
Upstream investment in Russia’s oil and gas sector is set to plunge 30 per cent to $35 billion this year amid sanctions and a mass departure of foreign companies, Rystad Energy said in a report on Thursday.
The overall number of contracts in the oil and gas industry declined by 7% in Q3 2022, decreasing from 1,662 in the previous quarter to 1,542 in the current one, GlobalData, a data and analytics company, has said.
(WO) — Government and industry gathered on Nov. 30 to discuss energy security, the energy transition to net zero and challenges to maintaining investment in the North Sea during a forum hosted by industry regulator the North Sea Transition Authority (NSTA).
Upcoming sanctions on Russian oil are set to be “really disruptive” for energy markets if European nations fail to set a cap on prices, analysts warned.
Of all the motley crew of ideas the government of Ghana has churned out in recent days and weeks to deal with the country’s deteriorating public finances, none has caught fire like the decision to start buying oil with gold rather than dollars.
Minister Guilbeault made the following statement after the just completed COP 27 Climate talks “During a global energy crisis, we are more committed than ever to support the global transition to cleaner, renewable forms of energy, by transitioning away from our dependency on fossil fuels”.
Green Energy International Limited (GEIL), an indigenous company operating the Otakikpo marginal field in Oil Mining Lease (OML) 11, will expand oil production to 25,000 barrels per day next year.
The Ghanaian government on Thursday announced its plans to buy oil products with gold rather than the United States’ dollar reserves