Oil prices slipped on Monday but were holding near their highest levels this month as easing COVID restrictions in China raised hopes of a demand recovery in the world’s top crude importer.
Energy Minister, Dr. Matthew Opoku Prempeh is leading an energy sector delegation at the 13th session of the International Renewable Energy Agency (IRENA) in Abu Dhabi, UAE.
Crude oil began the week with a decline as traders took profits from last week’s rally and settled down to wait for market forecasts due this week by OPEC and the International Energy Agency.
The first consignment of oil under the governments gold for oil policy, which seeks to stem the depreciation of the cedi against major trading currencies, has arrived at Tema Port and discharged into the receptacles of Bulk Oil Storage and Transportation Company (BOST).
Oil prices dipped on Monday, but optimism that China’s reopening from COVID restrictions will lift fuel demand in the world’s top crude importer kept prices near 2023 highs, reached after a surge in prices last week.
We have pledged one of the biggest steps in the history of our organisation — to reach net zero in 10 years. For any company in any sector, that is a huge goal. For us, it is an ambitious target. We are a fossil fuel company in a country that is the third-largest member of Opec.
The Nigerian National Petroleum Company Limited (NNPCL) has said a production quota restriction by the Organisation of Petroleum Exporting Countries (OPEC) could limit its ambition to attain 2.2 million barrels per day in 2023.
Guyana’s oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer’s light sweet crudes, particularly in Europe, where thirsty refiners ramped up imports to replace Russian supplies.
CAIRO – OPEC+ is facing “volatile prospects” in oil markets both in supply and demand, UAE energy minister Suhail al-Mazrouei told Asharq TV on Saturday.
Nigeria and other top African producers are expected to witness upstream revival and the launch of several multi-well drilling campaigns in 2023.