Despite promises that it would begin petrol production between August 10 and 12, 2024, the Dangote Petroleum Refinery may postpone the roll out of Premium Motor Spirit (PMS).
Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Joseph Dadzie, is of the firm belief that establishing an operational presence in the Western Region would further strengthen GNPC’s position as Ghana’s foremost player in the oil and gas sector.
The decision comes at a time when industry executives have been pushing for government measures to bring back investments put off by a slew of state interventions to curb energy prices and boost domestic supply.
In a quarterly financial update, Granite Ridge Resources revealed it closed multiple transactions in Q2 2024, adding 16.4 net future drilling locations for $22.4 million (including $5.8 million of expected future drilling carries).
Houston-headquartered exploration and production company Marathon Oil Corp. reported $349 million in net income for the second quarter, compared to $297 million for the previous quarter and $287 million for the corresponding quarter a year prior.
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
According to Reuters, Equinor and ExxonMobil have transferred their stakes in a deepwater oil and gas exploration block offshore Suriname to Hess Corp, with Equinor exiting the South American country.
Offshore drilling contractor Northern Ocean announced an extension of the contract with a subsidiary of TotalEnergies SE for continued work in Africa using the Deepsea Mira drilling rig.
Several banks and financial institutions implementing policies aimed at reducing support for fossil fuel projects have led to a sharp decline in investment in Africa’s oil and gas industry, a sector that is crucial for its economic future and energy needs.
The discovery of oil and gas reserves has often been heralded as a catalyst for economic growth and development in many places around the world.