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Vitol Group paid a record $2.2 billion to its executives and staff through share buybacks last year, an unusually large payout that comes as the oil trader undergoes a generational transition in leadership. The buyback — Vitol’s main way of rewarding about 350 top employees who own the privately-held company — means the trading house […]

BP has halved its shareholder dividend and posted a record $6.7bn quarterly loss after the coronavirus pandemic hit global demand for oil. The dividend news is another blow for pension funds and private investors who have seen a string of firms cut or halt payouts. The loss was largely due to BP writing down the

Houston-listed Vaalco Energy, which has been producing oil from Gabon’s Etame Marin field since 2002, will increase its oil production in 2020 by 35% compared to 2019. Gross reserves and resources for the company’s Gabon assets are around 115mn bl; Vaalco’s share, net of royalties, is 31mn bl, while it produces around 18,000 barrels per

French energy giant Total says it is writing off $9.3-billion worth of oilsands assets in Alberta and cancelling its membership in the Calgary-based Canadian Association of Petroleum Producers. Total now considers oil reserves with high production costs that are to be produced more than 20 years in the future to be “stranded” given its carbon

A new report by the Bank of Ghana shows that the country received a total of 310.14 million dollars into Ghana’s Petroleum Holding Fund (PHF) for the first half of 2020. Compared to same period in 2019, the figure dropped by $124. 34 million dollars as the figure for last year was $434.48 million dollars.

After three consecutive months of raising its crude oil prices, the world’s largest oil exporter, Saudi Arabia, is widely expected to make the first cut to its official selling prices (OSPs) since the OPEC+ group started their record production cuts to prop up the market and prices amid crashing demand.  Oil refiners and traders in

The platform will assist local and international companies in attracting local talent across 30 different skills set in the oil & gas, power and renewable energy sectors JOHANNESBURG, South Africa, July 7, 2020/ — In order to maximize the saving of local jobs and assist in the recovery of African energy markets after the Covid-19

The Natural Resource Governance Institute (NRGI)’s mission is to secure a future where countries rich in oil, gas and minerals achieve sustainable, inclusive development—one where people receive lasting benefits from extractives, and the negative impacts associated with the sector are minimized. NRGI is an independent, global non-profit organization that works collaboratively to generate and translate

Revenues of some of the major oil and gas companies quoted on the Nigerian Stock Exchange fell by about 38% in the second quarter of 2020 wiping out a whopping N84.7 billion(over 214 million dollars ) from their topline revenues. This is according to data compiled from the recently released results of the listed companies

Madam-Mary Asumpta Foli, the mother of the CEO of PWSL Yvette Selormey has been laid to over the weekend at the All Saints Catholic Church, community 11, Tema A pre-burial event and burial mass were held on Saturday August , 20201 and a thanksgiving service on Sunday, August 2, 2020. Madam Foli passed away on Tuesday June