PBF Energy Inc. released fourth quarter financial results on Feb. 15, reporting that the company’s St. Bernard Renewables (SBR) facility produced approximately 12,000 barrels per day of renewable diesel during the three-month period, down from 17,000 barrels per day during the third quarter. The company noted that production during the fourth quarter was impacted by a renewable diesel unit catalyst change.
Perenco has begun drilling an appraisal well in Gabon, close to its shallow water Hylia South West discovery from December 2022.
The original discovery, HYSM-1, found a 40-metre net oil-bearing column in the Ntchengue Ocean reservoir. It found another column in the Madiela carbonate reservoir.
The appraisal well is targeting both of these reservoirs. Dixstone’s Banba jack-up rig is carrying out the work, which should take 30 days.
The Ghana Investment Promotion Center (GIPC) has disclosed a financial deficit in its operations over the past two years, raising concerns about the organization’s sustainability.
There are still considerable risks that could potentially derail Ghana’s economic recovery process, US-based economist, Dr. Dennis Nsafoah, has revealed.
Back in 2022, the oil industry became the target of multiple attacks from high-ranking politicians because of the record profits Big Oil reported for that year.
After a two-year hiatus, deal-making in the U.S. shale patch has hit high gear with the U.S. energy sector leveraging high stock prices to go on a $250 billion buying spree in 2023. Last quarter alone, U.S. oil majors Exxon Mobil Corp. (NYSE:XOM), Chevron Corp. (NYSE:CVX) and Occidental Petroleum (NYSE:OXY) struck deals worth a combined $125 billion to acquire low-cost oilfields with low breakeven oil price. And, activity is not slowing down in the current year. A couple of weeks ago, Midland, Tex.-based Diamondback Energy, Inc. (NASDAQ:FANG) agreed to buy Permian producer Endeavor Energy Resources in a cash and stock deal valued at $26 billion, an ambitious move for a company with a market cap of $32 billion.
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.