The Rivers oil terminal represents a historic achievement. Expected to be operational by March 2025, it is widely considered as Nigeria’s first indigenous onshore oil export facility. Once commissioned, this terminal will provide critical support for stranded oil fields in the Niger Delta, and address long-standing logistical bottlenecks surrounding crude production.
Dr Oppong believes the influx of OMCs has created a chaotic environment that makes it nearly impossible for regulators to maintain control.
Dr Oppong compared Ghana’s situation to other countries where governments allow industry players to operate with minimal interference.
The CEO of the Association of Oil Marketing Companies (AOMCs), Dr Riverson Oppong, has called on underperforming Oil Marketing Companies (OMCs) to consider merging with stronger players to create a more sustainable industry.
The Kuwait Petroleum Corporation is planning to invest around USD 33 billion in maintaining and expanding its oil and gas production over the coming five years, Bloomberg reported on Thursday.
Last month, commodity analysts at Standard Chartered reported that global oil demand hit an all-time high of 103.79 million barrels per day (mb/d) in August, marking the third successive month in which a new all-time demand high has been set. According to StanChart, global oil demand growth clocked in at a healthy 1.32 mb/d in August. Well, it appears that oil markets are poised to finish the year on a bullish note.
The share of natural gas in India’s primary energy supply is currently between 6% and 8%, according to data from various government statistics and international forecasters such as the International Energy Agency (IEA) and the Statistical Review of World Energy published annually by the Energy Institute.
The Middle Corridor, an emerging trade route linking China and Europe via the Caucasus and Central Asia, has been a major topic of discussion on the fringes of COP29. In the spirit of the climate gathering, participants say they are intent on developing a sustainable “green” energy corridor, involving the construction of new infrastructure and the digitization of trade systems.
The energy regulator Ofgem has told provider E.ON Next to pay up £14.5m for failing to provide final bills and refunds to its customers.
NNPC, Nigeria’s NOC, introduced its Utapate crude oil blend at the Argus European Crude Conference in London on Wednesday.