The average rate at which oil and gas fields’ output declines over time has significantly accelerated globally, largely due to higher reliance on shale and deep offshore resources, meaning that companies must work much harder than before just to maintain production at today’s levels, according to a new IEA report. The international conversation over the...
Category: Oil and Gas
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Guyana found huge oil reserves 10 years ago, so why are most people still poor?
With a ‘one-sided’ deal handing vast profits to the world’s top oil firms, many Guyanese ask when the energy bonanza will benefit them.On 18 July, the International Chamber of Commerce approved the attempt by the US energy multinational Chevron to replace Hess Oil as a stakeholder in one of the world’s largest offshore oilfields, Guyana’s...
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First Nigerian Gasoline Cargo Arrives in U.S.
The first cargo of Nigerian gasoline produced at the Dangote refinery has reportedly arrived at its destination in the United States. Reuters, citing unnamed sources in the know and ship-tracking data, said the gasoline cargo was arranged by Sunoco and commodity trader Vitol. VesselFinder reported that Gemini Pearl, a Panama-flagged oil product carrier, was currently...
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Ghana, Eni and OCTP Partners Ink Energy Pact to Expand Oil, Gas and Sustainability Initiatives
Ghana has signed a landmark Memorandum of Intent with Eni and its Offshore Cape Three Points (OCTP) partners — Vitol and the Ghana National Petroleum Corporation (GNPC) — to scale up oil and gas production while accelerating sustainable energy development. The signing ceremony, held at the Kempinski Hotel in Accra during Africa Oil Week, was...
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$121M Oil & Gas Push: Why Egypt’s New Deals Could Shift Africa’s Energy Map.
Agreements serve several important purposes: Investor Confidence – By attracting established companies like Apache, Dragon Oil, and Perenco, Egypt signals to global markets that it remains an attractive destination for oil and gas investment. Job Creation and Services – Exploration projects generate contracts for local drilling services, seismic survey companies, and logistics providers, creating economic...
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APPO Delegation Tours Sentuo Oil Refinery Ahead of CEOs Forum
A high-level delegation from the African Petroleum Producers’ Organization (APPO), comprising CEOs and representatives of National Oil Companies (NOCs), visited the Sentuo Oil Refinery in Accra on Sunday as part of activities leading into the 7th APPO NOC CEOs Forum on Monday, 15th September 2025. The delegation, led by the Acting CEO of GNPC and...
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Ukraine strikes key Russian oil terminal in massive drone attack
But Russian newspaper Moskovskij Komsomolets warned this week that petrol supplies were “near critical”, with drivers in far eastern Russia reporting kilometre-long queues, rationing and soaring prices. Strikes have also hit the Druzhba pipeline, disrupting exports to Hungary and Slovakia – potentially cutting off a key source of foreign currency for Russia. Moscow has intensified...
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Petroleum Hub Development Corporation Deepens Ties with Saudi Partner AHQ Group
The Petroleum Hub Development Corporation (PHDC) is strengthening its strategic partnership with Saudi Arabia’s Abdel Hadi Abdullah AlQahtani & Sons Group of Companies (AHQ Group) following a high-level visit to Ghana by senior executives of the group. On Friday, September 12, 2025, top officials of the AHQ Group, accompanied by their local partners, the Special...
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India will keep buying Russian oil despite Trump demands
(Bloomberg) — India’s Finance Minister Nirmala Sitharaman said the country will continue buying Russian oil, signaling its intent to defy U.S. President Donald Trump’s persistent demands to halt the purchases. Where we buy our oil from, especially a big-ticket foreign exchange item where we pay so much, highest in terms of import, we will have...
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Russia-China Gas Deal May Seal New Gas World Order
The signing of the Power of Siberia 2 pipeline deal by the presidents of Russia and China was perhaps the biggest news to come out of the two leaders’ meeting earlier this month. It was also the deal that may very well make the new global natural gas flow order permanent, potentially interfering with President...