Oil & Gas
Joint Committee recommends approval of US$1.45 billion loan for GNPC
Parliament’s Joint Committee of Finance and Mines and Energy has recommended to the House to approve a request submitted by government for the Ghana National Petroleum Corporation to borrow US$1.45 billion to acquire significant stakes in two oil blocks and finance...
Unitize to attract investors into upstream petroleum sector – IES to ENI and Springfield
•The IES is pushing for the unitization of Springfield and ENI as directed by the government of Ghana. •the move will act as an effective response to the global investments towards green energy, according to the IES. •The IES’ further argues that unitizing will help...
Ghana Upstream Petroleum Chamber assures Energy Minister of support
The Ghana Upstream Petroleum Chamber (GUPC) has indicated its willingness to support government through a collaborative process by bringing industry and government together to address pertinent issues affecting the sector. The Chief Executive Officer of the Chamber,...
Petroleum Holding Fund report for second half of 2020
The Petroleum Holding Fund (PHF) received a total amount of US$261.00 million from lifting proceeds in the second half of 2020 compared to receipts of US$235.28 million in the first half of 2020. During the second half of the year, the Ghana Group (GNPC lifting on...
Tullow hires Maersk drillship for Ghana campaign
Offshore drilling contractor Maersk Drilling has received a conditional letter of award (CLOA) from Tullow Oil for the provision of the ultra-deepwater drillship Maersk Venturer and additional services for a development drilling campaign at the TEN and Jubilee fields...
Nigeria Will Maintain Position As Regional Leader in Oil, Gas Industry – President
President Muhammadu Buhari has declared that Nigeria will strengthen its position as regional leader in the oil and gas industry, even as he said that his administration will spare no effort in ensuring maximum benefit from the nation's huge natural resources....
Nigeria: NNPC Receives $1bn to Fund NPDC’s Upstream Operations
The Nigerian National Petroleum Corporation (NNPC) has obtained a prepayment funding of about $1billion to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company (NPDC). The crude oil prepayment has enabled NNPC to pay NPDC's Tax...
Ghana’s First Oil Licensing Bid Round Monitoring Report launched
A monitoring report assessing Ghana’s first-ever Oil licensing Round has been launched Thursday May 7, 2020. Launched virtually, the report is an evaluation of the entire licensing bid process, which began last quarter 2018. It was prepared by a monitoring team...
Angola: Crude Oil Sale Generates Usd 7.6 Billion
Angola sold in the fourth quarter of 2019 crude oil worth US $ 7.6 billion, resulting from the export of 117 million barrels, belonging to Sonangol and the international companies operating in the country. In the third quarter of the same year (June to September),...
China Big Oil’s upstream bet is paying off
China Big Oil wrapped up a first half that rewarded exploration & production and punished refining. PetroChina Co. and Cnooc Ltd. on Thursday posted stronger earnings, while Sinopec, the fuel-making behemoth, said earlier in the week that profit slid 24% from a...
