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...
Category: Oil and Gas
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Oil price surge may turn Iran conflict into windfall for Ghana – Dr Adu Sarkodie
Economist Dr Adu Owusu Sarkodie says the escalating war in the Middle East could unexpectedly boost Ghana’s revenue if rising global oil prices persist. Speaking on Joy News’ PM Express Business Edition on Thursday, he explained that while geopolitical conflicts often trigger economic shocks, oil-producing countries like Ghana could benefit from higher crude prices on...
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CBOD, COMAC Deepen Industry Collaboration to Strengthen Downstream Petroleum Sector
The Chamber of Bulk Oil Distributors (CBOD) has paid a courtesy call on the Chamber of Oil Marketing Companies (COMAC) as part of efforts to deepen engagement and reinforce collaboration within Ghana’s downstream petroleum industry. The CBOD delegation was led by its Chief Executive Officer, Dr. Patrick Ofori, and included Richard Kissi, Head of Finance...
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GNPC Explorco, LubriMax, WEP seal deal for Ghana’s first onshore Voltaian Basin drilling
Ghana’s long-anticipated Voltaian Basin drilling campaign has moved closer to reality following the signing of a major project management consultancy agreement between GNPC Explorco and LubriMax Ghana Limited together with its technical partner Well Engineers and Planners to commence drilling in the Voltaian Basin The agreement, signed signal a significant milestone toward Ghana’s first large-scale...
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NPA Assesses Tema Oil Jetty Readiness for 24-Hour Operations
The Director of Port, Tema, Mr Tebon Zumah, today received a delegation from the National Petroleum Authority. The delegation, led by its Chief Executive Officer, Mr Godwin Edudzi Tamakloe, visited to assess and confirm the readiness of the Tema Oil Jetty for 24-hour service. The engagement follows an earlier inspection conducted last year, during which...
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OPEC+ approves hike in oil production as Gulf crisis escalates
OPEC+ has agreed in principle to a slightly larger increase in oil production next month as a conflict sparked by US-Israeli strikes on Iran threatens to push crude prices higher. Key members, led by Saudi Arabia and Russia — which had paused a series of hikes during the first quarter — are set to add...
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CSOs push for fast-tracking of Atuabo Gas Phase II Project
Civil society organisations (CSOs) in Ghana’s energy sector are urging government to expedite the construction of a second Gas Processing Plant at Atuabo, warning that swift action is crucial to sustaining power generation and strengthening the country’s energy security. The call follows a familiarisation tour of the existing Atuabo Gas Processing Plant in the Western...
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Nigeria To Begin Exporting New Light Crude Grade Cawthorne From March, Boosting National Oil Output
Nigeria is set to start exporting a new light, sweet crude grade named Cawthorne in March, the Nigerian National Petroleum Corporation (NNPC) announced, marking a strategic step to increase theCorporation (NNPC) announced, marking a strategic step to increase the country’s crude production and strengthen its position in the global oil market. The move comes amid...
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GHEITI urges gov’t to reconsider Ghana Gas aggregator role
By Kizito CUDJOE The Ghana Extractive Industries Transparency Initiative (GHEITI) has urged government to review its decision appointing the Ghana National Gas Company (Ghana Gas) as national gas aggregator, warning that stalled institutional reforms and legal gaps are undermining clarity in the country’s gas governance framework.In its latest report, GHEITI noted that although Cabinet approved...
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Tullow Oil to Acquire TEN FPSO in $205 Million Deal to Cut Costs and Boost Offshore Ghana Field Economics
Tullow Oil acquires TEN FPSO in a $205 million transaction aimed at reducing operational costs and strengthening long-term field economics offshore Ghana.The London-listed independent energy company has signed a Sale and Purchase Agreement to acquire the floating production, storage and offloading vessel, FPSO Prof. John Evans Atta Mills, which serves the TEN fields on the...