The United Nations University – Institute for Natural Resources in Africa (UNU-INRA) this week engaged the Chamber of Bulk Oil Distributors (CBOD) for contributions to its [UNU-INRA] latest report on Stranded Assets and Sustainable Development in Africa. UNU-INRA launched an academic discussion paper on Africa’s development in the Age of Stranded Assets in 2019. This
The National Petroleum Authority’s Fuel Specifications Implementation Committee has recommended the display and sale of two grades of petrol and diesel at the pumps at fuel stations. This is in compliance with the AFRI 4 diesel specifications in line with the Africa Refiners Association’s guidelines for improved fuel quality. The committee, at its recent meeting,
The National Petroleum Authority, Ghana Chamber of Bulk Oil Distributors and Legacy Bonds have met to finetune the road map towards the implementation of the Credit Practice in Trade (CREPT). CREPT is a credit risk rating mechanism aimed at addressing the trade credit risk within the petroleum downstream sector of Ghana. LBL requested regulatory clearance
NPA, CBOD, LBL meet to discuss the road map towards the implementation of CREPT Read More »
Former Managing Director of Bulk Oil Storage and Transportation (BOST) Company Limited, George Mensah Okley has been laid to rest at a ceremony over the weekend (August 8-9, 2020) in Accra. Mr. Okley, 47 years passed away on Monday, June 22, 2020, at the 37 Military hospital after a short illness. Okley was appointed in
Former BOST MD laid to rest Read More »
The market is gradually beginning to give credence to something I’ve been discussing in past OilPrice articles for a long time now. In a June, 2020 article entitled, underinvestment could send oil prices soaring , I argued how the retrenchment and lack of capital investment the industry has seen the past five-years would lead to
Here’s how oil could skyrocket by 138% Read More »
Five oil majors (including Exxon Mobil and British Petroleum) reduced the value of their assets by $50 billion in Q2, 2020. They also reduced their production rates as the COVID-19 pandemic caused a downward trend in energy demand. What this means: The cut in asset valuations and reduction in crude oil production by these oil majors
Five oil majors reduce value of their assets by $50 billion in Q2 Read More »
For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand. Weekly U.S. oil inventory data — usually published on a Wednesday and covering the period
Saudi Arabia turns off America’s oil taps again Read More »
The world’s consumption of natural gas is set to decline by 4 percent this year, but global demand will return to growth after the pandemic, thanks to low natural gas prices and stricter environmental policies, a new report showed on Thursday. The Global Gas Report 2020 – published by the International Gas Union (IGU), research
Global natural gas demand set for long-term growth after covid Read More »
The world’s largest oil company, Saudi Aramco reported a 73 drop in profit Q2,2020 profit and still kept its plans to pay $75 billion in annual dividends in a report credited to Bloomberg. Saudi Aramco reported a plunge in profits for Q2,2020 of 24.6 billion riyals compared to 92.6 billion riyals recorded in the same
THE NATIONAL Petroleum Authority (NPA) has procured a total of 3,983 gas cylinders for the residents of the Jomoro Municipality of the Western Region to augment the cylinders they already have in their homes. The initiative was part of the pilot implementation programme of the Cylinder Recirculation Model (CRM) under the theme: “CRM: Securing Our
NPA Procures Over 3,000 Gas Cylinders For Jomoro Read More »
