The recent increase in oil prices has helped BP to record a healthy profit for the three months to March. The $1.4bn (£1.1bn) profit, on the replacement cost measure, compared with a $485m loss a...
Rising crude prices drove huge profits for US oil industry giants, but key figures in the sector have raised concerns about low investments in exploration and production. They warn that continued...
Chamber of Petroleum Consumers Ghana (COPEC-GH) has adjudged Goil, a Ghanaian owned oil company with the largest Market share, as the overall best oil marketing company (OMC) for 2016. This award is...
Higher power and aviation earnings helped General Electric return to profitability in the first quarter as it announced plans Friday for cost cuts this year and next. But the industrial conglomerate,...
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing...
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing...
Oil-exporting cartel OPEC is confident that production cuts agreed with non-members to prop up prices will lead to a recovery in the market, its chief said on Wednesday. "We are optimistic that the...
UK inflation held steady last month, as rising prices for food and clothing were offset by lower air fares. The Office for National Statistics (ONS) said inflation as measured by the Consumer Prices...
An Economist for Global Markets at Stanbic Bank, Mr. Ayomide Mejab, has advised local businesses on the need to hedge against the volatility of the cedi. Speaking in Accra, he said, the cedi, one of...
The price of oil has hit its highest level for a month in response to the US military's missile attack on a Syrian government airbase. The price of Brent crude surged above $56 a barrel before easing...
Pressure group Alliance for Accountable Governance (AFAG) has expressed shock at the announcement of a 15% increment in transport fares. Transport Unions across the country have agreed to a 15...
The Chamber of Petroleum Consumers (COPEC) is advocating for a national transport policy as a means of regulating transport fares in the country. The call has become necessary, due to the recent...
The Institute for Energy Security (IES) has predicted a further drop of fuel prices by about 2% in the 1st pricing window of April. The Institute believes the drop could be attributed to the removal...
Wall Street stocks rallied Thursday, shrugging off uncertainty over President Donald Trump's agenda and advancing as US fourth-quarter growth was upgraded and oil prices rose above $50 a barrel....
Prices of petroleum products are expected to fall further in the first pricing window of April, the Institute for Energy Security (IES) has said. Already, the prices have been reduced by oil...
For the second time in March this year, GOIL has reduced prices of its petroleum products at its fuel stations across the country GOIL’s Super XP (petrol) has been reduced by five pesewas per litre...
CIMG Petroleum Company of the year, GOIL, has taken the lead to reduce its ex-pump prices of petroleum products again, the second before the end of the March window. A statement released in Accra...
Saudi Arabia on Wednesday lost its high-quality credit rating from the Fitch agency, which lowered the kingdom a notch because of worsening public finances as the oil price wobbles. Dropping its...
Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect. The Organization of the Petroleum...
The Deputy Finance Minister-designate, Kwaku Kwarteng, has assured that fuel prices will see further reduction following the passage of amendments to tax laws governing the petroleum sector. His...
