Fuel Prices To Fall By 3%
Fuel prices will fall by three per cent later in the month on the back of the drop of Brent crude, gasoline and gasoil prices on the world market, the Institute for Energy Security (IES) has...
Tag: petroleum
Oil Touches Three-Month Lows, As U.S. Supply Swells
Oil hovered around three-month lows on Monday, as rising U. S. inventories and drilling activity offset optimism over OPEC's efforts to restrict crude output. Brent crude LCOc1 was down 7 cents on...
US Increases Imports of Nigerian Crude By 287%
The United States almost tripled the volume of crude oil bought from Nigeria last year, seven years after it began depending less on the country ‘s crude. This comes as the Shale oil production...
U.S. Energy Stocks, Darlings Last Year, Stumble In 2017
The energy sector is the stock market's dud so far in 2017 after a banner performance in 2016, and the rest of the year may also be rocky for investors due to the unclear path for crude oil prices....
Titans of Oil World Meet In Houston After Two-Year Price War
The biggest names in the oil world come together this week for the largest industry gathering since the end of a two-year price war that pitted Middle East exporters against the firms that drove the...
Cedi Fall Threatens Fuel Price Stability
The Institute for Energy Security (IES) has said the relative stability for the price of Brent Crude, and global prices for gasoline and gasoil points to the stability of local fuel prices but “the...
Nigeria’s GDP Fell By 1.5% In 2016
Nigeria’s gross domestic product fell by 1.5 per cent in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for its first annual contraction in 25 years. Africa’s...
Oil Gains As Bullish Bets On Rising Prices Hit Record High
Oil prices rose on Monday as investors showed record confidence in prices rising further, though gains were capped by the prospect of faster growth in U. S. oil production. Brent crude oil LCOc1 rose...
Fuel Prices To Remain Stable
The Chamber of Petroleum Consumers Ghana (COPECGH) has noted that prices of petroleum products in the country will remain fairly stable. A statement signed by Duncan Amoah, Executive Secretary,...
U.S. Shale Oil Braces For the Unfamiliar In 2017
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 Prices Slip As High Stocks Overshadow OPEC Cuts
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...
Oil To End Year At US$57
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...
Institute of Energy Security Warns of Fuel Shortage
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...
IES Predicts Fuel Shortage Within Two Weeks
The Institute of Energy Security (IES) wants the National Petroleum Authority (NPA) to be swift in averting what it describes as an imminent fuel shortage in the next two weeks. The development...
‘Ghana To Experience Fuel Shortage Soon’
Barely three weeks after a furnace at the Crude Distillation Unit (CDU) of the Tema Oil Refinery (TOR) exploded, Institute of Energy Security has raised alarm about a likely fuel shortage in the...
Fresh US Drilling Capping Oil Price
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...
Russia To Decide In April-May If Global Oil Deal Should Be Extended
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...
Oil Overhang Points To Need For Extended OPEC Output Cuts
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 Fall On Bloated U.S. Fuel Inventories, Stalling China Demand
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...
Springfield To Begin Work On WCTP Oil Block
The Springfield E&P Limited, owners of the West Cape Three Points Block 2 Offshore, is to collect seismic data on the block as part of the exploration and appraisal phase of the project. This is part...