News

Accra, Ghana – June 21, 2024 — The Chamber of Bulk Oil Distributors’ (CBOD) has received a letter from the Ministry of Energy addressed to the Ghana Revenue Authority (GRA) on a new standard for measurements in the oil and gas sector. This standard was primarily developed collaboratively by the Ghana Standards Authority (GSA) with […]

Crude Oil and Refined Products Market Review and Outlook Global crude oil prices continue to follow a downward trajectory after rising to a five-month high in April 2024. Crude prices rose from an average of USD81.72/bbl in Q1 to USD90.39/bbl in April before declining to an average of USD79.33/bbl in the second window of June

The Ghana Chamber of Bulk Oil Distributors (CBOD) is proud to contribute to the national effort of restoring Ghana’s forest cover. In commemoration of Green Ghana Day, 50 members and officials of the Chamber participated in a tree-planting exercise at the Chipa Forest Reserve near Agomeda. The Chamber’s members planted a diverse range of trees,

Crude Oil and Refined Products Market Review and Outlook Global crude oil prices plummeted to their lowest levels since January 2024 in the 11th to 26th May pricing window. Although the global demand had been projected by the International Energy Agency (IEA) to rise by 1.1 mb/d in 2024, the recent decline in prices is

Crude Oil and Refined Products Market Review and Outlook • Global crude oil prices rose significantly in April and in the first week of May above the USD90/bbl benchmark. They are expected to remain in a broad holding pattern towards the end of the second quarter of 2024. The significant surge in the crude prices

Accra, Ghana – April 25, 2024 – The Chamber of Bulk Oil Distributors’ (CBOD) attention has been drawn to Government’s plans to make the Bulk Energy Storage and Transportation  Company (BEST), the sole off-taker of Sentuo Oil Refinery Limited’s production under the gold for oil programme (G40). We are convinced that this plan is inconsistent

The Ghana Chamber of Bulk Oil Distributors (CBOD) has hosted this year’s media soiree, inviting representatives from various media houses across the country. The cocktail event aimed to establish a strong and collaborative relationship between the Chamber and the media, focused on ensuring accurate and timely information reaches Ghanaians. Dr. Patrick Ofori, CEO of CBOD,

Crude Oil and Refined Products Market Review and Outlook  Oil benchmark rose on Friday 12th April 2024 in anticipation of Iran’s retaliatory attack against Israel, with prices touching their highest since October 2023. This rise in oil prices, which hit a six-month high on Friday, emanates from the alleged Israeli attack on the Iranian embassy

Crude Oil and Refined Products Market Review and Outlook  Notwithstanding the recent surge in global crude prices, the average crude price fell by about 7% in Q1 2024 compared to Q4 2023. Recent data has shown an upsurge in the price of crude oil reaching as high as USD85.44/bbl since November 2023.  Compared to the

Crude Oil and Refined Products Market Review and Outlook The downward trajectory of global demand for crude oil and petroleum products reversed since the beginning of 2024 due to the positive signs of global economic recovery. Global economic indices have reversed in a positive trajectory in 2024 after worsening in 2023 due to the impact