OPEC+ will raise oil output from November by 137,000 barrels per day (bpd), the same fairly modest increase as in October, three people close to the matter said on Sunday. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than...
Category: Oil and Gas
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Tema Oil Refinery Nears October Restart, MD Confirms
The Managing Director of the Tema Oil Refinery (TOR), Edmund Kombat, has reaffirmed the company’s readiness to resume operations in October, describing the development as a historic milestone for Ghana’s downstream petroleum industry. According to Mr. Kombat, work on the refinery’s revival is 98 percent complete, with management and staff working diligently to meet the...
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Ghana Urges African Nations to Prioritise Natural Gas for Industrialisation
Cape Town, South Africa – Ghana has called on African energy and petroleum ministers to take inspiration from its example by prioritising natural gas as a primary fuel source for industrialisation and domestic consumption. Speaking during a fireside chat at African Energy Week, the Minister highlighted the need for innovative approaches and sustainable policy frameworks...
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Crude Oil and Refined Products Market Review and Outlook
Compared to August 2025, global petroleum markets in September recorded modest price uptick across crude oil and refined products, reflecting the combined impact of geopolitical tensions and broader economic conditions. In the pricing window under review, crude oil prices rose by about 1.86%, driven largely by supply constraints linked to the sanctions imposed on Russia...
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AEW 2025 Opens with Exploration Push, $1B Seismic Investment and U.S. Pledge of Partnership
African Energy Week (AEW): Invest in African Energies 2025 opened in Cape Town on Tuesday, highlighting renewed exploration, billion-dollar seismic investments, deepening U.S. partnership and calls to end global double standards. African Energy Week (AEW): Invest in African Energies 2025 opened on Tuesday with a call to fast-track oil, gas and clean energy development across...
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Ghana’s Ambassador to South Korea, Kojo Choi calls on PHDC CEO
Ghana’s Ambassador to the Republic of Korea, His Excellency Kojo Choi, paid a courtesy call on the Acting Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr Toni Aubynn, at the PHDC head office in Accra on Tuesday, September 30, 2025. During a warm interaction, H.E. Kojo Choi explained that the visit was...
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Equatorial Guinea, ConocoPhillips Seal Landmark Gas Deal Worth $9 Billion
Malabo, Equatorial Guinea — Equatorial Guinea has signed a major Heads of Agreement (HOA) with U.S. energy company ConocoPhillips for the development of offshore Blocks B/4 and EG-27, a move expected to unlock up to $9 billion in investment and strengthen the country’s position as a regional gas hub. The agreement, signed by the Ministry...
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GOIL PLC Wins CIMG Petroleum Company of the Year 2024 – Energy and Extractives Reporters Ghana
The Chartered Institute of Marketing Ghana (CIMG) praised GOIL for delivering high-quality petroleum products and services while meeting the energy sector’s evolving needs in an ethical, safe, and environmentally responsible manner. This year’s award is not the first for GOIL. The company retained its CIMG Hall of Fame status, underscoring its sustained industry leadership and strong...
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Nigerian Crude Oil Hits $70/barrel Amid Global Tensions
Nigerian crude settled at about $70 per barrel, up from $68 earlier in the week. This is because U.S. crude inventories have recently decreased. Brent crude, which was trading at $69.3 per barrel on September 26, represents a slight monthly increase of 3 per cent. Nigerian blends usually trade at a slight premium to Brent...
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Tullow Oil Exits Kenya With $120m Sale to Auron Energy
Tullow Oil plc has completed the sale of its entire working interest in Kenya to Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd, marking its exit from the East African nation after 14 years. The transaction, first announced on July 21, 2025, involved the transfer of 100% of the shares in Tullow Kenya...