Oil & Gas

Tullow Ghana to drill Wells In 2018

  Tullow Oil has announced in a statement that it will drill at least two more wells commencing February 2018. It said it has secured the Maersk Venturer rig to be “used across the TEN and Jubilee fields and has been contracted for up to four years with favourable early termination provisions.” “The first well planned is an Ntomme production ...

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USAID promotes strategic partnerships in the oil and gas sector

West African Gas Pipeline

As part of a program to improve the competitiveness of local businesses, the United States Agency for International Development (USAID) and government have held a conference in the Western Region for stakeholders in the oil and gas sector. At the conference, participants shared lessons learned and best practices and highlighted the achievements of local businesses in the industry. The conference ...

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Ghana remains an oil led economy – Statistical Service

Ghana’s economy continues to be led by the oil sector according to some figures released by the Ghana Statistical Service . A development, some economists have warned could have dire implications for the country’s future if not checked. For the third quarter this year, the Ghana Statistical Service stated that oil contributed largely to the growth in the country’s Gross Domestic ...

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NPA assures Ghanaians

The National Petroleum Authority (NPA) has assured the general public that there will be no increment in fuel prices at the pumps this festive season. “This is as a result of a marginal drop of fuel prices on the world market. The Exchange Rate has also remained relatively stable,” the NPA announced in a statement. It also said it has ...

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West Africa Gas Pipeline to be completed by Q2 of 2018

West African Gas Pipeline

The West African Gas Pipeline Reverse Gas Flow Project is expected to be ready by the second quarter of next year, to ensure free flow of gas from Aboadze to Tema for power generation, Energy Minister, Boakye Agyarko has said. Currently, gas from oilfields in the western coast only terminates at the Aboadze thermal enclave in the Western Region. The ...

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1,000 Ghanaians To Benefit From Oil And Gas Training Annually

Ghanaians

 The Ministry of Energy has laid out a plan to train 1000 Ghanaians annually to gain various technical skills needed in the oil and gas industry. As part of the laid out plan, 200 Small and Medium Scale Enterprises (SMEs) will also be provided with the capacity to gain a competitive advantage in the industry annually as well as 300 ...

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Tullow Oil’s outlook lifted by higher output, oil prices

Tullow Oil

Tullow Oil raised its production targets on Wednesday thanks to higher output from its flagship West African fields as higher crude prices brightened the outlook for the debt-ridden explorer. The London-listed firm also slashed its 2017 spending target by a quarter to $300 million due to lower expenses in East Africa, and reduced its debt to $3.6 billion while increasing ...

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Financial, security woes put Libyan oil recovery on shaky ground

West African Gas Pipeline

Libya’s oil production revival is being undermined by the same financial, economic and security problems that threaten the promise of stability and a better life for the divided North African nation. Libya surprised many observers when it managed to raise its output fourfold to around one million barrels per day (bpd), boosting its only significant source of income. Continued disruptions ...

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Oil prices stable after OPEC signals possible further action

OPEC

Oil prices stabilized on Monday after one of the most bearish weeks in months, propped up by OPEC comments signalling the possibility of further action to restore market balance in the long term. Oil production platforms in the Gulf of Mexico started returning to service after Hurricane Nate had forced the shutdown of more than 90 percent of crude output ...

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