Belgium has approved new quality controls set to suspend the export of cheap, low-quality motor fuels from its ports to West Africa, the government confirmed May 23, in a move that could shift trade flows to alternative supply hubs.
Oil and gas supermajor TotalEnergies has announced that it will invest $600 million to strengthen exploration and production activities in the Republic of Congo in 2024. The investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field, which accounts for approximately half of all Congolese oil production, or roughly 140,000 bpd.
The Public Interest Accountability Committee (PIAC) has revealed that the Carried Participating Interest
(CAPI) dominated the revenue earnings for Ghana in 2023.
The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Joseph Abuabu Dadzie, has downplayed the significance of a recent report by the Public Interest and Accountability Committee (PIAC) that revealed a decline in Ghana’s crude oil production.
The Ministry of Lands and Natural Resources and the Forestry Commission have signed a historic Emissions Reductions Purchase Agreement (ERPA) with Tullow, marking a significant milestone in Ghana’s efforts to address deforestation and forest degradation.
Nigeria produced 159,158,191 barrels of crude oil in the first four months of 2024; data by the Nigerian Upstream Petroleum Regulatory Commission has shown.
Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark crude futures.
Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.
NEW YORK, May 15 (Reuters) -U.S. oil major Exxon Mobil’s 250,000 barrel-per-day Joliet refinery in Illinois completed planned maintenance and is in the process of restarting operations, a spokesperson confirmed on Wednesday.
High-level OPEC officials unpacked the Organization’s short- to long-term crude oil market perspectives in a special session at the Invest in African Energy forum in Paris on Tuesday.