There is absolutely no doubt that Africa is a very rich continent, both in terms of human and natural resources.
African oil and gas executives and Small Medium Enterprises (SMEs) operators have concluded plans to examine opportunities for investment in the oil and gas industry as the 2023 Offshore Technology Conference (OTC), opens in Houston, Texas, next week.
Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) Opoku-Ahweneeh Danquah has said, he remains committed in building and sustaining a robust state petroleum entity and won’t be distracted by few dissenting elements within the system.
The World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, has thrown her weight behind calls for a just energy transition framework for African countries, saying balance must be sought between the desire for a cleaner, more sustainable environment and the continent’s need for development.
A new wave of mergers and acquisitions is coming to the U.S. oil patch, and the most prolific shale basin, the Permian, is set to lead the deal-making activity in the industry.
In response to the IEA’s warning made on Wednesday that OPEC should be careful not to cut too much production lest they jack up prices too high, the Organization of the Petroleum Exporting Countries (OPEC) issued a warning of its own to the IEA: your calls to stop investing in oil and gas is what could lead to future price volatility, OPEC said in a Thursday statement.
Calgary-based Suncor Energy will acquire French TotalEnergies’ Canadian operations in a US$4.1-billion deal for the oilsands patch.
West Texas Intermediate Midland crude is about to be added to the Brent benchmark contract this June. This would be the first time a non-North Sea crude has been added to the benchmark basket. And it will change the oil market forever.
Oil rose on Wednesday after plunging more than 2% in the previous session as reports of falling US crude oil and fuel inventories refocused investors on robust demand in the world’s top oil consumer
According to the Public Interest and Accountability Committee (PIAC)
2022 Annual Report (p. 25), oil production from the Jubilee Field witnessed an increase in production from 27,335,481 barrels at year’s end in 2021 to 30,523,813 barrels at year’s end in 2022.