Wrapped into the drama of electing a new Speaker of the House, Republicans agreed to a rule requiring hearing and votes on several pro-fossil fuel bills that seek to address non-existent problems while creating the risk of locking in—literally—another century of oil and gas drilling on federal public lands and offshore areas.
Ghana, like many other countries around the globe, is currently facing significant
energy price hikes caused by the ongoing war between Russia and Ukraine
coupled with monetary policy issues.
ALL Grace Energy Limited (AGEL), an indigenous oil company operating (OML17) in Rivers, has reaffirmed commitment to the development of its host community in compliance with the Petroleum Industry Act (PIA).
Oil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week’s gains on the prospect of an economic recovery in top oil importer China this year.
Nigeria’s ability to produce crude oil has crashed by 83 per cent, findings have shown.
Nigeria’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC.
Nigeria’s crude oil production rose to 1.185 million barrels per day in November 2022, representing the highest output by the country in the past seven months.
The country recorded 25.8 million (bbls) of crude oil in the first half year of 2022 from its three offshore producing fields – Jubilee, Tweneboa Enyera and Ntomme (TEN) and Sankofa Gye Nyame
(SGN), a reduction of about 1.9 million barrels from the previous year’s production. Jubilee recorded 14.9 million bbls, being 57.6 percent of the total
production, whereas SGN produced 6.5 million bbls representing 25.4 percent and TEN recorded 4.3 million bbls, being 17 percent.
Warren Buffett’s company has now bought up more than $11 billion worth of Occidental Petroleum stock this year to give Berkshire Hathaway control of more than 20% of the oil producer
Libya’s oil production has recovered in recent days after the country resumed oil exports last week.