Odeefuo Amoakwa Buadu VIII said Ghana’s total crude production since the beginning of commercial oil production has now reached 675.1 million barrels. However, he expressed concern that the country’s output has been falling steadily since its highest level of 71.4 million barrels recorded in 2019.
The request comes as Egypt, which only became a net importer of the fuel in 2024 and more than doubled the amount of LNG it bought this year, struggles to assess its demand. The nation purchased a large volume of shipments earlier in 2025, with some of the deals having an element of flexibility.
“Some clients doubt that a price floor at $60 a barrel for Brent crude oil would be enough to induce a supply-and-demand reaction to balance a global liquids market generally seen heading for a surplus,” Citi’s team reported. Others, on the other hand, expect a smoother price correction, pointing to inventory builds in parts of the world but not in the United States.
Russia’s oil production averaged 9.173 million bpd in August, compared to the 9.259 million bpd ceiling in the OPEC+ deal, which also takes into account Moscow’s compensation for previous overproduction.
The U.S. Energy Information Administration (EIA) has raised both its 2025 and 2026 average Brent crude oil spot price forecasts in a short term energy outlook (STEO) for the first time in 2025.
The transaction agreement covers the acquisition of all issued and outstanding shares of Shelf Drilling and was approved with 99.6% of votes cast in favour.
ExxonMobil signed agreements that lay the groundwork for it to explore Iraq’s giant Majnoon oil field, ending the company’s near two-year hiatus in the country.
The project to develop the Dragon gas field, located in shallow waters between the two countries, would replenish feedstock for Trinidad’s gas-starved liquefaction complex and petrochemical plants. Trinidad is a significant exporter of LNG, ammonia and other gas-based products.
The partnership will align academic and industrial training with international standards, offering Namibian students, job seekers, and service providers access to education, mentorship, and employment opportunities. The initiative aims to strengthen local capacity across technical disciplines including engineering, fabrication, operations, and project management, supporting the development of Namibia’s offshore energy resources.
Ukraine has discussed with G7 countries additional natural gas imports as it seeks to boost imports by 30% to offset the damage from Russian strikes on its gas infrastructure, Ukrainian Energy Minister Svitlana Grynchuk said on Tuesday.