Saudi Arabia has increased its oil production this month by 700,000 bpd to 10.70 million bpd, very close to its highest-ever production of 10.72 million bpd from November 2016, a Reuters survey showed on Friday in a clear sign that OPEC’s largest producer is making up for supply drops elsewhere within the cartel. Saudi Arabia’s […]
Saudis Boost June Oil Production Close To All-Time High Read More »
It has emerged that Seadrill Ghana Operations Limited is demanding $277 million from Tullow Oil Ghana Limited (TGL), a subsidiary of Tullow Oil Plc, in an arbitration process in London. The company, which filed claims in a Commercial Court in London – United Kingdom, is seeking a declaration that Tullow was not entitled to terminate
Tullow battles $277m court case Read More »
Government is on course to transform the country’s energy system away from fossil fuels towards energy efficiency and sustainable energies such as wind and biomass, a Deputy Minister for Energy, Joseph Cudjoe, has told parliament. Answer a question on plans to transform the country’s energy system away from fossil fuels, Joseph Cudjoe said by the
Gov’t targets 2030 to scale up renewable energy penetration Read More »
Oil company Tullow Oil has contracted a second rig to work on its drilling program and accelerate production growth in Ghana. Tullow is the operator of two fields located off Ghana, the Jubilee and Tweneboa, Enyenra, Ntomme (TEN). In addition to Maersk Drilling-owned Maersk Venturer drillship, which is already working off Ghana, Tullow has now
Tullow contracts second rig in Ghana Read More »
U.S. Energy Secretary Rick Perry believes that Saudi Arabia and Russia will be able to boost their oil production to stabilize the oil market and compensate for losses of Iranian oil supply. “I am comfortable that Saudi Arabia is going to be able to increase their production to… 11 million barrels per day going forward,
U.S. Hopes Saudi Arabia, Russia Can Offset Loss Of Iran Oil Supply Read More »
The National Petroleum Authority (NPA) will from next month, July 2018, begin issuing licences to companies which seek to set up bottling plants for the Cylinder Recirculation Model (CRM). According to the Chief Executive Officer (CEO) of the NPA, Mr Alhassan Tampuli, 18 companies have so far put in applications to participate in the CRM.
NPA to issue licences to gas bottling plants in July Read More »
It was only a week ago that OPEC and Non-OPEC agreed to add 1 million barrels per day (mb/d) to the market, but it already feels like a distant memory with the oil bulls back on the march. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to
Oil Rallies Towards $80 Read More »
The Minority in Parliament has blamed the Energy Minister Boakye Agyarko, for the anticipated temporary shutdown of Tema Oil Refinery (TOR), due to the firm’s inability to raise letters of credit to purchase crude. According to the Minority Spokesperson on Mines and Energy, Adams Mutawakilu, a recent comment by the Energy Minister suggesting that TOR
Agyarko to blame for TOR’s anticipated shutdown – Minority Read More »
The National Petroleum Authority, NPA has engaged members of the Council of State on the LPG Cylinder Recirculation Model at the council chambers in Accra. The NPA team led by its Chief Executive, Alhassan Tampuli briefed members of the council on the newly introduced model of LPG consumption and also canvas their support for its
NPA engages Council of State on Cylinder re-circulation Read More »
The extractives sector plays a crucial role in revenue generation for countries, especially where tax collection is effective. Countries that have lax tax collection systems and regimes that tolerate opaque ownership structures facilitate the syphoning of public money, conflicts of interest and tax evasion. The Africa Centre for Energy Policy (ACEP) has developed manuals for
