A former managing director of the Tema Oil Refinery (TOR), Isaac Osei has said the state refinery is currently in good shape and requires the consistent purchase of crude oil to keep it running.
From a position of relative obscurity less than a decade ago, U.S. natural gas and liquefied natural gas (LNG) export capacity has expanded rapidly since the Lower 48 states first began exporting LNG in 2016.
Bullish sentiment appears to have taken over oil markets in the wake of the OPEC+ decision to cut production by an additional 1.6 million bpd from May through to the end of the year.
As part of the African Energy Chamber’s Invest in African Energy reception in Dubai on Thursday – representing the fourth stop on the Chamber’s global investment tour – a panel discussion was held to unpack the latest developments, trends and opportunities within Africa’s shifting exploration and production (E&P) landscape.
Crude oil prices have so far held on to their gains from Monday despite the latest PMI reading for China, which showed a decline in March, suggesting hiccups along the way to recovery.
Several of the world’s largest oil exporters have said they are cutting their production levels, which has caused a leap in crude prices.
Adetola Bademosi, Abuja The Federal Government has approved the amendment of the 2022/2023 deep offshore oil blocks mini bid round. It said the move was in a bid to boost confidence in the transparency and continuity of the 2022/2023 Mini-bid Round process. The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Engr. Gbenga Komolafe in […]
The African Energy Chamber (AEC) (http://www.EnergyChamber.org) united financiers and energy stakeholders from the UAE, Middle East and Africa during its Invest in African Energy reception in Dubai on Thursday, aimed at cementing deeper, longer-term and mutually beneficial relations between the two regions and advancing shared interests in diversification, energy security and infrastructure development.
Natural gas prices in the United States fell to a 30-month low last week, dropping to $2 per mmBtu. And, while some producers have curbed drilling, the surplus isn’t going away anytime soon.
The OPEC+ group is not expected to intervene in the oil market with changes to its production policy, likely keeping the current quotas until the end of 2023, despite the oil price plunge and the financial markets turmoil, three OPEC+ delegates told Reuters on Wednesday.