President Joe Biden’s decision to authorize U.S. supermajor Chevron to recommence lifting crude oil in Venezuela breathed hope into President Nicolas Maduro’s plans to rebuild the country’s shattered oil industry. The harsh January 2019 sanctions imposed by Biden’s predecessor Donald Trump cut Caracas off from global energy and financial markets, nearly bankrupting Venezuela.
Signs of cautious optimism about a recovery in economies and oil demand have emerged, OPEC Secretary General Haitham Al-Ghais told Bloomberg Television in an interview on Tuesday.
The Bank of Ghana (BoG) has said the country has enough gold reserves to sustain the government’s gold for oil policy.
The Vice President, Dr Mahamudu Bawumia is confident that the gold for oil policy will reduce the pressure on forex and also present the country with cheaper fuel.
Sustainable Energy for All (SEforALL), The African Climate Foundation, Bloomberg Philanthropies, the ClimateWorks Foundation, and the Chinese Renewable Energy Industries Association (CREIA) will launch a new collaborative initiative – green manufacturing initiative to drive large-scale renewable energy manufacturing capabilities and investment in Africa.
The first consignment of petroleum products delivered under the Government’s Gold for Oil Policy can serve consumers between 10 to 15 days, the Bulk Oil Storage and Transportation Company
(BOST) has said.
China’s Panjin Haoye Chemical Co Ltd’s entire oil refinery and petrochemical complex was shut down after a huge explosion killed five people and left eight missing on Sunday, Reuters has reported.
The OPEC narrative for 2022 was largely about the realities of supply and demand against the backdrop of a post-pandemic war that sparked sanctions and a European energy crisis with the counterweight of a Chinese covid crisis.
Chevron has made a “significant” gas discovery offshore Egypt that is set to be fast-tracked to production via existing infrastructure.
So far, global net-zero ambitions have not been supported with an actual plan beyond setting expectations by a certain date and the world cannot solve its environmental and climate change problem without being realistic about the solution, according to Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy.