This is however lower than the $696.815 million secured in the same period of 2022.
No reasons have yet been attributed to the drop in proceeds.
Meanwhile, the sad development comes particularly at a time when the government is in dire need of funds to shore up its domestic revenue in the wake of the closure of the international capital markets to the country.
The Republic of Congo is a mature hydrocarbon market with proven resources, numbering 1.8 billion barrels of oil reserves and 284 billion cubic meters of natural gas reserves. Despite this, the country’s on- and offshore territory remains underexplored and operators have been slow to add value to crude resources. Yet a new gas monetization drive, coupled with several offshore exploration and development programs, presents investors with dynamic opportunities in gas processing and refining, LNG trade and infrastructure upgrades.
Ghana Gas Company Limited is expected to acquire Ghana Cylinder Manufacturing Company (GCMC) Limited by the end of the first quarter of 2024.
The African Group of Negotiators on Climate Change (AGN) has reaffirmed its commitment to Africa’s climate and development aspirations.
The Chamber of Petroleum Consumers, (COPEC) has projected an increase in fuel prices, beginning tomorrow, February 16, 2024.
In September last year, the European Union’s electric utility industry association, Eurelectric, warned that the bloc needed what Reuters called “unprecedented” investments in grid upgrades. Otherwise, Eurelectric said, the EU could well miss its energy transition targets.
The Ghana Upstream Petroleum Chamber is a non-profit upstream petroleum organisation which aims to achieve long term success of the upstream petroleum industry in Ghana.