(Reuters) -Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue. The April-June quarter covered a volatile period in which the OPEC+ group of producers continued raising their production volumes, putting pressure...
Category: Oil Prices
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Transparency and Reform in NPA’s Fund Management: Decoupling Roles for Accountability
The Centre for Environment Management and Sustainable Energy (CEMSE) is calling for urgent reforms within the National Petroleum Authority (NPA), advocating a clear separation between the Authority’s regulatory role and its management of petroleum-related funds. CEMSE argues that the NPA’s dual mandate has led to a lack of transparency and accountability, with significant revenue surpluses...
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Rockway Oilfields Services Earns Triple ISO Certification, Underscoring Commitment to Quality, Safety, and Sustainability
Rockway Oilfields Services Ghana Limited, a wholly indigenous Ghanaian company, has achieved a major milestone with the official award of three internationally recognized ISO certifications — ISO 9001:2015 (Quality Management), ISO 45001:2018 (Occupational Health & Safety), and ISO 14001:2015 (Environmental Management). The certifications were issued by the UK-based Accreditation Service for Certifying Bodies (ASCB) Worldwide,...
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Gold-for-Oil Was Just a Cash Deal – Finance Minister Discloses
Finance Minister Dr. Cassiel Ato Forson has debunked claims that the much-touted “Gold for Oil” initiative introduced by the previous administration was a true barter arrangement involving the direct exchange of gold for petroleum products. Speaking on JoyNews’ PM Express, Dr. Forson revealed that contrary to public belief, the policy never involved any actual trading...
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Fuel Stations in Volta, Greater Accra Largely Compliant — COMAC Mystery Audit Reveals
Most fuel retail outlets and refilling plants across the Volta Region and parts of the Greater Accra Region are meeting required safety and operational standards, according to findings from a recent mystery shopping audit by the Chamber of Oil Marketing Companies (COMAC). The audit, COMAC’s third in 2025 forms part of its ongoing initiative to...
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Oil prices rise after new EU sanctions on Russia
LONDON, July 18 (Reuters) –Crude oil futures rose on Friday while gasoil futures jumped to a 17-month high as investors weighed new European Union sanctions against Russia.Brent crude futures climbed 68 cents, or 1%, to $70.20 a barrel by 1327 GMT. U.S. West Texas Intermediate crude futures gained 81 cents, or 1.2%, to $68.35.The Reuters...
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Oil steadies near three-week high on signs of tighter supplyBy Enes TunagurJuly 14, 20251:54 PM GMTUpdated 3 hours ago
LONDON, July 14 (Reuters) – Oil prices steadied on Monday, holding close to their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while tariff uncertainty weighed.Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while U.S. West Texas Intermediate...
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EIA raises 2025 oil price forecast, lowers 2026 outlook amid global risks
In its July Short Term Energy Outlook, the agency increased its price forecast for West Texas Intermediate through the end of 2025 but has lowered that forecast into 2026. Driven by higher near-term prices in the aftermath of the Israel-Iran conflict, the EIA now forecasts WTI will average $66 in July, up from $59 last...
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World oil market may be tighter than it looks, IEA says
VIENNA, July 11 (Reuters) – The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1...
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Ghana’s Rising Power Demand Signals Urgent Need for Infrastructure Investments-2025 Energy Outlook
Accra, Ghana – July 11, 2025 — Ghana’s electricity demand is climbing steadily, driven by rapid population growth, industrial expansion, and increasing nationwide access to electricity. This trend underscores a pressing need for sustained investment in energy infrastructure, according to the Ghana Energy Outlook Report 2025. The report reveals that total electricity consumption reached 22,410...