Iran’s armed forces headquarters has declared it is ready to close the Strait of Hormuz indefinitely if US President Donald Trump carries out a threat to bomb Iran’s power plants. Its statement Sunday is the latest warning from Tehran of retribution for any attacks on the country’s power industry. Trump said Saturday he would order...
Category: Oil and Gas
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COMAC Stresses Consumer Protection as Ghana’s Fuel Demand Surges
The Chamber of Oil Marketing Companies (COMAC) has underscored the growing importance of consumer protection in Ghana’s downstream petroleum sector, as fuel consumption continues to rise significantly. Speaking at an event by the National Petroleum Authority NPA, to mark World Consumer Rights Day, CEO of COMAC Dr Riverson Oppong expressed appreciation to the National Petroleum...
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CBOD CEO Speaks on Strengthening West Africa’s Petroleum Supply Chain at Argus Forum
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick K. Ofori, has delivered a presentation on sustaining the region’s refined petroleum products supply chain, at the Argus West Africa Oil Forum held in Accra,.Dr. Ofori highlighted the growing demand for petroleum products across West Africa, driven by population growth,...
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Chevron’s Local Engagement Strategy in Africa Sets the Standard for International Oil Companies (IOC) Operating on the Continent
As global energy companies expand local engagement reporting frameworks, a central question remains: how closely do sustainability commitments align with on-the-ground impact? For IOCs operating in Africa, the answer increasingly depends on whether local engagement principles translate into local economic participation, infrastructure development and technology transfer. For Chevron, one of the continent’s longest-standing operators, that...
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Chevron Reiterates Commitment to Development of the Niger Delta
Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National petroleum Company Limited (NNPCL) and CNL confirms its commitment to socio-economic development in the Niger Delta. CNL has demonstrated interest in stakeholder discussions in respect of the proposed Escravos to Warri Road Project and continues to partner with the Niger Delta Development...
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Crude oil price to average $70 per barrel in 2026 if… – Fitch
Ratings agency, Fitch is raising its 2026 annual average crude oil price forecast to US$70 a barrel from US$63 (Brent). According to the UK-based firm, it assumes that the Strait of Hormuz remains effectively closed for about a month. However, it anticipates oil prices falling to the mid-US$60s by the second-half of 2026. “We raised...
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Mahama Commissions Sahara LPG Vessel to Boost Ghana’s Energy Infrastructure
President John Dramani Mahama has commissioned the Sahara LPG Vessel as part of his visit to South Korea, describing the development as a significant step toward strengthening Ghana’s energy infrastructure and advancing the country’s transition to cleaner energy sources. Speaking at the commissioning ceremony, the President noted that the event represented more than a symbolic...
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Dozens of countries agreed to release 400 million barrels of oil. But it didn’t bring down prices.
The Department of Energy said the United States would contribute 172 million barrels of oil from the Strategic Petroleum Reserve, starting next week.The International Energy Agency said Wednesday that member countries had unanimously agreed to release 400 million barrels of oil from their reserves in a bid to ease prices that are soaring due to...
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Iran Warns Oil Could Hit $200 per Barrel as Hormuz Threat Escalates
Oil markets are bracing for an even bigger potential price shock with Iran on Wednesday warning that crude could surge to $200 per barrel if the war involving the U.S. and Israel continues to destabilize the Middle East’s energy corridors. Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya military command headquarters, warned the world to “get...
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Great Britain Has Less Than Two Days of Gas Amid Middle East War – The Guardian
The widening regional war of Israel and United States attacks on Iran is beginning to ripple through global energy markets, raising concerns in United Kingdom over declining fossil gas reserves. Figures from National Gas show Britain currently holds 6,999 gigawatt hours of gas, down from 9,105 GWh a year earlier. While the country’s maximum storage...