Among the many factors that impact the operations and efficiency of Petroleum Service Providers (PSPs) in the Downstream Petroleum Sector of Ghana is inadequate infrastructure. Infrastructure is the backbone of the petroleum sector, especially given the sensitive nature of petroleum products. Although emphasis has always been given to the impact of international price volatilities of...
Day: August 6, 2025
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Crude Oil and Refined Products Market Review and Outlook
Heightened geopolitical tensions and hikes in supply-risk premiums resulted in a temporary surge in crude oil prices in June by about 13%. This was largely due to the impact of the Israel–Iran conflict that resulted in the Parliament of Iran threatening the closure of the Strait of Hormuz, which accounts for about 20% of the...
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ExxonMobil eyes more merger and acquisition opportunities across all sectors
ExxonMobil is actively pursuing more mergers and acquisitions (M&A) across its business segments, with a sharp focus on value creation rather than volume. “We’re continuing to keep a really close eye on the waterfront, see where the opportunities are, do a good job of understanding what that unique value creation opportunity looks like and then...
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Guyana gasoline prices now lowest in the Caribbean region.
Guyana recorded the lowest gasoline price in the Caribbean region in July, well below the global average, according to data shared by the Energy Chamber of Trinidad and Tobago last Thursday. The Chamber’s analysis, which drew on figures from globalpetrolprices.com, shows that gasoline in Guyana retailed at approximately US$0.81 per litre in July, compared to...
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Namibia picks South African nuclear tech for Walvis Bay oil refinery.
Namibia has selected South African-developed nuclear technology to power a new oil refinery planned for Walvis Bay, with the project set to be driven by the Dune 7 Special Purpose Vehicle and backed by the Namibian government. The refinery, designed to process 300,000 barrels per stream day (BPSD), will utilise the High Temperature Modular Reactor...
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Where to find oil and gas in the Philippines: Proven reservesIncreased exploration, drilling pace
According to Statista, citing official Department of Energy (DoE) data, the island nation holds 139 million barrels of “proven” reserves, as of 2024. That’s equivalent to an estimated market value of $9.61 billion (based on mid-2025 oil market data). There could be more.The Philippines is said to be “sitting” on a gold mine of untapped...
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MISA Energy Ghana Emerges as Bold New Identity for Former Engen Ghana.
Formerly known as Engen Ghana, the company has officially unveiled its new identity as MISA Energy Ghana Limited, signalling a transformative shift toward becoming a truly African energy brand—rooted in Ghanaian leadership and driven by international best practices. Unveiling the rebrand at a ceremony in Accra, CEO Brent Nartey emphasized that the new name represents...
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COPEC Rejects Claims of 20% Public Transport Fare Hike, Urges Stakeholder Dialogue
The Chamber of Petroleum Consumers (COPEC) has dismissed reports suggesting a 20% hike in public transport fares set to take effect on Friday, August 8, 2025. In a press statement released Tuesday, August 5, COPEC clarified that its engagement with key transport unions, including the Ghana Private Road Transport Union (GPRTU), revealed no official confirmation...
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Exxon Signs Oil Deal in Libya
Exxon has inked a preliminary deal for exploration at four offshore blocks in Libya after a decade of absence from the country. The news was reported by Libya’s National Oil Corporation, which said the U.S. supermajor will conduct a detailed technical study of the blocks that are located off the country’s northwest coast and the...