Russia’s fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow’s fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West. Russia’s oil products have been banned in the EU and other Western countries since 2023, so...
Category: Oil and Gas
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Ghana, Nigeria Weigh Barter Deal: Electricity for Gas
Ghana is in talks with Nigeria over a potential barter arrangement that would see electricity exported in exchange for gas, Energy and Green Transition Minister John Jinapor has disclosed. Speaking at the Future Energy Conference (FEC) organised by the Africa Centre for Energy Policy (ACEP), Mr. Jinapor said the initiative could enhance regional energy security...
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Dr. Wisdom Enang warns that recent Global oil price decline could undermine Nigeria’s fiscal plans
SAMPSON ENYONGEKERE, UYO A shrewd and globally revered energy expert, Engr. (Dr.) Wisdom Patrick Enang has identified industrialization as the most viable path to unlocking Nigeria’s economic potential. Dr. Enang proffered the opinion on Friday, August 15, while speaking with newsmen in Uyo, the Akwa Ibom State capital. While presenting his opening address, the erudite...
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Brazil’s Petrobras can return to Nigeria quickly, Nigerian president says
ABUJA, Aug 26 (Reuters) – Brazil’s state-run oil company Petrobras, which left Nigeria five years ago, should be able to return quickly, Nigerian President Bola Tinubu told a news conference with his Brazilian counterpart as part of a two-day visit to deepen ties.Petrobras began operations in Nigeria in 1998 in the deep waters off the...
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Oil falls from almost three-week high driven by Russian supply risks
LONDON, Aug 26 (Reuters) – Oil prices lost more than 1% on Tuesday after surging nearly 2% in the previous session as traders monitor developments surrounding the war in Ukraine and potential disruption to Russian fuel supplies.Brent crude was down $1.08, or 1.57%, at $67.72 a barrel by 1040 GMT, having hit its highest since...
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Namibia–Botswana oil refinery project moves to feasibility stage
Feasibility studies are currently under way for a proposed joint oil refinery between Namibia and Botswana, with Walvis Bay and Ghanzi under consideration as possible sites, Namibia Mining & Energy can reveal. Although cost estimates of around US$4 billion have been mentioned, Deputy Head of the Upstream Unit, Carlo McLeod, says that no official budget...
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MISA Unveils First Service Station in Weija, Marks New Era in Ghana’s Oil Marketing Sector
MISA Unveils First Service Station in Weija, Marks New Era in Ghana’s Oil Marketing Sector The Chief Executive Officer of MISA Energy Brent Nartey has officially unveiled the company’s first branded service station at Weija, describing the milestone as a bold step in its journey to becoming a leading African energy brand. Speaking at the...
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Trump withholds Venezuelan oil approval for non-U.S. majors
Bloomberg) — The Trump administration is withholding approval for several Western oil majors seeking to operate in Venezuela, ramping up pressure on Nicolás Maduro’s government even as Chevron Corp. is allowed to work there, according to people familiar with the matter.The pause is focused on non-U.S. firms, leaving companies including Spain’s Repsol SA, Italy’s Eni...
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Aker BP makes ‘significant’ oil discovery in Norwegian North Sea
Aker BP has completed its Omega Alfa exploration campaign in the Norwegian North Sea, resulting in a significant oil discovery that adds substantial new resources to the Yggdrasil area. The recoverable volume is estimated at 96-134 million barrels of oil equivalent (MMboe).Omega Alfa is among the largest commercial discoveries in Norway in a decade. Building...
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GOIL PLC Board Embarks on Onboarding and Familiarization Tour
The Board of Directors of GOIL PLC has begun an onboarding and familiarization programme with visits to key operational sites in Accra. Their first stop was the nearly completed new Head Office complex at Dzorwulu, which features green and sustainable systems such as solar panels, rainwater harvesting, and multiple power and water supply sources. Board...