Guyana oil fund gets another US$133 million from oil sales in SeptemberGuyana received payments for two cargoes of crude oil in September 2025, totaling US$133 million (approximately GY$28 billion). The shipments, lifted from the Payara and Liza 1 projects, reflect the continued strength of the country’s oil production profile and the steady flow of revenue...
Category: Oil and Gas
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Ukraine and Russia’s intensifying energy war brings gas shortages and economic pain
Almost 900 miles from Ukraine’s borders, a fire erupted at a Russian oil refinery on Saturday. The blaze – a result of a strike by Ukrainian long-range drones, according to sources in the country’s security services – was the third at the facility in the last month alone. It was just the latest episode in...
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StarOil Commissions First-Ever AI Smart Lab in Bleamezado
StarOil Ghana has commissioned an ultra-modern Artificial Intelligence (AI) Smart Lab at Kaledzi Memorial Basic School in Bleamezado, Volta Region, as part of its corporate social responsibility and ongoing commitment to promoting education through technology. The initiative, undertaken in partnership with the Coral Reef Innovation Hub, was officially launched on Monday, October 6, 2025, and...
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Petroleum Revenues Drop 56% in H1 2025 to $370.34m
Ghana’s petroleum receipts for the first half of 2025 fell sharply by 56 percent year-on-year, according to the Public Interest and Accountability Committee (PIAC) in its 2025 Semi-Annual Report on the utilisation of revenue from the country’s crude oil production. The report revealed that a total of US$370,343,681.17 was lodged into the Petroleum Holding Fund...
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Ghana’s Crude Oil Output Dips by 25.9% in First Half of 2025
Ghana’s crude oil production declined sharply by 25.92 percent year-on-year in the first half of 2025, according to the Public Interest and Accountability Committee (PIAC). The Committee’s 2025 Semi-Annual Report on the management and use of petroleum revenues revealed that total output from the country’s three producing offshore fields — Jubilee, TEN, and Sankofa-Gye Nyame...
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ExxonMobil signs Majnoon oil field deal, marking return to Iraq
ExxonMobil signed agreements that lay the groundwork for it to explore Iraq’s giant Majnoon oil field, ending the company’s near two-year hiatus in the country.The Texas oil major has signed heads of agreements with Basra Oil Co. and SOMO, Iraq’s oil marketing company, the nation’s Prime Minister Mohammed Shia Al-Sudani said Wednesday. Goal include developing...
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McDermott, PETROFUND sign agreement to develop Namibia’s oil and gas workforce
McDermott has signed a Memorandum of Understanding (MoU) with the Petroleum Training and Education Fund (PETROFUND) to advance technical training and workforce development in Namibia’s growing oil and gas sector. The partnership will align academic and industrial training with international standards, offering Namibian students, job seekers, and service providers access to education, mentorship, and employment...
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Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start
Uganda’s long-awaited oil refinery project is finally moving closer to reality, with operations expected to commence between the fourth quarter of 2029 and the first quarter of 2030. The project, one of the largest of its kind on the continent, aims to reduce the region’s reliance on imported fuel, strengthen domestic energy security, and position...
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GOIL CEO Engages Planet One Officials on Strategic Roadmap for Deepwater Cape Three Points Project
The Chief Executive Officer of GOIL PLC, Ghana’s leading indigenous oil marketing company, Mr. Edward Abambire Bawa, has held a high-level strategic meeting with executives of Planet One Group, GOIL’s joint venture partner for the Deepwater Cape Three Points (DWCTP) project offshore Ghana. According to Mr. Bawa, the discussions centred on ensuring comprehensive preparedness ahead...
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Star Oil consolidates gains as market leader for half-year – New industry report
Star Oil has consolidated its position as the leader in Ghana’s Oil Marketing industry, according to new industry data for the first half of 2025. The report shows that the company recorded a 41.02% increase in product volumes, reaching 403.3 million litres, thereby overtaking GOIL PLC in market share.Its dominance was anchored in strong performances...