Exxon Mobil cut its proved oil reserves by three billion barrels to 20 billion barrels at the end of 2016, the company announced Wednesday. "As a result of very low prices during 2016, certain...
Iran said in January its daily output was close to 3.9 million barrels. Iran expects its oil production to reach 4 million barrels per day by mid-April, and plans to drill 500 new wells over the next...
The Institute of Energy Security (IES) has predicted a percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the...
U. S. shale producers are facing their first production cost increase in five years in 2017 as industry activity picks up and energy service providers hike fees to take a bigger share of the profits...
Oil slipped on Friday, pressured by growing global stocks, while expectations that an oil output cut by producers might eventually balance the market helped to underpin prices. Brent crude futures...
All things being equal, fuel prices will not travel beyond 15 percent increase in 2017, some industry analysts anticipate. This is largely due to a forecast that the price of oil will end the year at...
Fuel supplies are expected to be seriously disrupted due to the unanticipated shutdown of the Tema Oil Refinery (TOR). The situation is expected to be aggravated by port congestion facing the oil...
Oil and gas firm Tullow and its JV Partners have adopted a three-phase approach to convert the Floating Production Storage and Offloading (FPSO) Kwame Nkrumah to a permanently spread-moored vessel,...
Oil giant Tullow has announced it will not be paying its shareholders dividends. According to Tullow, it took the decision following current financial constraints it is facing. Tullow which is listed...
Renewed drilling by US oil producers is keeping a ceiling on a global crude price recovery, cutting into the impact of deep reductions by other major producers, OPEC said Monday. In its latest oil...
It has emerged that the erstwhile National Democratic Congress (NDC) government did, purchase, three Floating Storage Regasification Units (FSRU), contrary to the Minority MPs position that they...
The OPEC oil cartel has implemented more than 90 percent of its agreed output cuts aimed at curbing a glut on world markets, Kuwait's oil minister said on Monday. OPEC and non-OPEC producers...
The Chief Executive Officer of the Ghana National Petroleum Corperation, GNPC, Dr. K. K Sarpong has reaffirmed the Corporation’s commitment to the country that, it would continue to lead the oil...
File image, A view shows an oil derrick and other facilities at Vankorskoye oil field Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC...
Tullow Oil has indicated that it will carry out another round of Jubilee shutdowns in the next half of this year which is expected to help the oil exploration firm, to complete work on the Jubilee...
An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short...
Oil prices slid on Wednesday to extend falls from the previous session, as a big increase in U. S. crude inventories and a slump in Chinese demand implied that global oil markets remain oversupplied...
Eni announces that the naming ceremony of the “John Agyekum Kufuor” floating production, storage and offloading (FPSO) vessel was held last Friday in Singapore. The FPSO shall operate in...
Eni announces that the naming ceremony of the “John Agyekum Kufuor” floating production, storage and offloading (FPSO) vessel was held last Friday in Singapore. The FPSO shall operate in...
Oil prices rose on Monday, with traders shifting money into crude futures as the dollar weakened, and as concerns rose that new U. S. sanctions against Iran could be extended to affect crude...
