Africa Oil Corp has submitted withdrawal notices to its joint venture partners on Blocks 10BB, 13T and 10BA in Kenya, to unconditionally and irrevocably, withdraw from the entirety of the joint operating agreements (‘JOAs’) and Production Sharing Contracts (‘PSCs’) for these concessions.
Oil prices slipped on Tuesday as investor concern over the risk of a US debt default dampened risk appetite, although a tighter market due to a seasonal rise in gasoline demand and supply cuts from OPEC+ producers lent support.
Nigeria’s President Muhammadu Buhari is commissioning a US$19 billion single-train oil refinery – the largest of its kind in the world and built by Africa’s richest person, billionaire businessman Aliko Dangote. The government hopes the refinery will turn Nigeria, Africa’s biggest oil producer, from an importer of refined fuels to an exporter and put an end to recurring fuel shortages […]
The Ghana National Petroleum Corporation (GNPC) has debunked reports of wrongdoing in the award of consultancy contracts in respect of the Saltpond decommissioning project.
The Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam has indicated that over 500 billion barrels of crude oil will be left untapped in Africa following growing concerns from international communities to ensure a sustainable climate.
Ghana has for the third consecutive year seen a decline in crude oil production according to the 2022 Public Interest and Accountability Committee’s (PIAC) annual report.
NNPC Ltd charts the path to consolidating gains, maximising capacity, unleashing potential, and spurring growth while igniting the optimism of stakeholders by providing updates on triumph over adversity in recent months.
Crude oil prices look set to record their first weekly gain since mid-April as sentiment about future demand improves amid signs there may be progress on the debt ceiling negotiations in Congress.
Last month, we reported that energy experts have been growing increasingly bearish on the oil price outlook compared to previous sentiment. Four energy agencies including the IEA and OPEC Secretariat have made their predictions for oil demand growth in 2023, with the only common theme being that all four expect demand to grow compared to 2022, but all are less optimistic than they were a year or so ago.
Following a brief respite at the end of last week, the wildfires in Alberta began raging again this week as temperatures rose, threatening the oil sands operations in the province and forcing operators to shut in oil and gas production.