With new projects to come on stream soon, Guyana will continue to see greater earnings from the oil and gas sector. At the current production level, over US$1.5 Billion is being generated every month.
Reports say the Nigerian National Petroleum Company Limited, NNPCL, has declared a state of emergency on crude oil production.
Emerita Professor Elizabeth Schandorf, the Chairperson of Public Interest and Accountability Committee (PIAC) has indicated that their findings in the 2023 annual report on the management and use of Petroleum Revenue reported a decline for the fourth consecutive year.
The Public Interest and Accountability Committee (PIAC) has expressed worry about the decline in oil
production by Ghana and has called on the government and other relevant regulatory bodies to take
steps to reverse the production decline on existing oil fields and ensure investments in unexpected
fields
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to extend their voluntary production cuts of 2.2 million barrels of crude oil per day into 2025.
Crude oil production in Ghana declined for the fourth consecutive year in 2023.
The Nigerian Upstream Regulatory Commission, on Sunday, revealed that Nigeria’s crude oil production rose marginally to 1.28 million barrels per day in April.
Ghana’s oil production is expected to rebound in 2024, with an anticipated increase of 5.0% to 177,120 barrels per day (b/d).
TotalEnergies EP Uganda (TEPU) is establishing a new benchmark for sustainable energy practices as Uganda approaches its oil production phase. This was disclosed by the Company’s General Manager, Philippe Groueix, during his address at the ongoing 9th Oil and Gas Convention in Kampala. Groueix emphasized to the energy experts gathered at the Serena Hotel the importance of pursuing a just energy transition.
OPEC only partially delivered new oil production cuts in the first month of its latest supply pact, according to a report from the group.