The Chief Executive Officer of the Petroleum Commission, Egbert Faibille Jnr., has stated that the unitization of Springfield and ENI Sankofa fields has been declared.
Traders expect the Federal Reserve to end its rate hikes in two months, which could push oil prices higher due to the generally inverse relationship between rates and oil prices.
Ghana bagged $696.815 million from oil lifting, corporate tax and other income in the second-half of 2022, the Ghana Petroleum Funds report has disclosed.
The West’s oil war against Russia is starting to take its toll — sparking calls for tougher measures
Russia’s revenue from fossil fuel exports collapsed in December, according to a new report, significantly hampering President Vladimir Putin’s ability to finance the war in Ukraine.
The Ghana Gas Senior Staff Association (GGSSA) has demanded the publication of the Energy Ministry’s report to the Presidency on the controversial Genser energy gas supply contract.
More than one hundred applications have been received for the UK’s 33rd offshore oil and gas licensing round, according to the North Sea Transition Authority (NTSA) on Jan. 17.
Last year was a good year for the oil industry. Despite predictions of its looming demise as renewable energy leads to electrification that in turn leads to the death of oil, fossil fuels were the stars of the year, with demand for all, including coal, notably rising. Meanwhile, opposition to Big Oil grew louder and protests turned more extreme, with activists gluing themselves to streets and buildings, and vandalizing world-famous works of art in order to raise awareness of climate change.
Continued increases in U.S. dry natural gas production are expected to outpace domestic demand and exports this year and in 2024 according to the EIA.
China’s reopening is set to drive global oil demand to a record high of 101.7 million barrels per day (bpd) this year, up by 1.9 million bpd from 2022, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate for 2023 by 200,000 bpd from 1.7 million bpd growth expected in December.
Oil futures fell by nearly US$1 on Thursday, extending losses from the previous day, as a surprise jump in US crude stocks weighed on the market along with fears of a recession that were heightened by disappointing US retail sales and output data.