The company, which operates under an exclusive 15-year concession agreement from the Ghanaian Government on an
open-access basis, is jointly owned by Mining Oil & Gas Services of South Africa (65%) and Tema Oil Refinery (35%).
Crude has surged in 2022, with Brent hitting US$139, its highest since 2008, in early March as Russia’s invasion of Ukraine exacerbated supply concerns
Gas is cheaper than crude when used for a generation, but free Gas from jubilee had always been preferred due to the impact on pricing.
If the U.S. passes the NOPEC bill, a bill designed to pave the way for lawsuits against OPEC members for market manipulation, the oil market could face even more chaos.
South America’s latest oil-producing nation, the former British colony of Guyana, is continuing to lay the groundwork for its oil boom.
Energy Minister, Dr. Matthew Opoku Prempeh has reiterated Ghana’s continued commitment to the West African Gas Pipeline Project (WAGPP).
GlobalData’s report, ‘Africa Oil and Gas Projects Analytics and Forecast by Project Type, Sector, Countries, Development Stage, Capacity and Cost, 2022-2026’, reveals that out of the 109 projects expected to commence operations in Nigeria, petrochemicals would account for 14, upstream (fields) 26, midstream 31 and downstream (refineries) would have the highest amount with 38.
The Chamber of Petroleum Consumers Ghana (COPEC) has calledon government to provide clear timelines on when the rehabilitationof the Tema Oil Refinery will be completed.
Oil prices sank 4 percent on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, sparked demand concerns.
The Petroleum Hub Development Corporation (PHDC) has given assurance to investors of a 100% tax exemptions and other benefits aimed at encouraging investment in the sector.