Oil prices slid on Monday as concern grew that a record rise in coronavirus infections worldwide could stall a recovery in fuel demand, outweighing tighter supplies from major producers.
Brent crude LCOc1 fell 10 cents, or 0.2%, to $42.04 a barrel by 0655 GMT, while U.S. crude CLc1 was at...
Oil producing nations with a high average fiscal break-even, but also oil traders have been caught off guard by the plunge in oil prices this Spring.
Oil nations are forced to diversify faster or face the consequences.
The world’s largest oil trader has seen its first-quarter net profit...
It is an undeniable fact that the current COVID-19 pandemic has produced retrogressive effects on all spheres of economic endeavors. Like the celebrated American Judge Benjamin Cardozo stated “danger invites rescue”. The cry of distress is the summons to relief and a burden has been placed on all policymakers...
As African oil and gas countries struggle with Covid-19’s devastating impact on demand, two international groups seem to be celebrating it.
Earlier this month, the Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA) described the low oil prices caused by the pandemic as a “golden opportunity”...
REDAVIA, a global market leader of cost-effective, reliable and clean solar power for businesses, has signed COVID-19 Resilience Leases with Emigoh Ghana Ltd. and Methodist University College Ghana, offering these institutions six months of free solar power to withstand the COVID-19 crisis.
The management at Methodist University College Ghana had...
In the second week of December last year, one issue that emerged at the energy sector front, particularly the downstream sector in Ghana and was discussed in the media was the increment of Bulk Oil Storage and Transportation (BOST) Company Limited’s margin.
The government, through the downstream regulator, National Petroleum...
It took the intervention of the coronavirus which emanated from China in early January 2020 to briefly halt the persistent increases in fuel prices in Ghana. Prior to that, the country have had to contend with persistent increases in fuel prices since January 2017.
The revision and the neutralization of...
Hydrogen power has been on the market for decades but has never really been able to break the glass ceiling of mass-market appeal, mainly due to a host of technical and cost issues.
Indeed, battery power appears to be winning the race to replace the internal combustion engine (ICE) more...
Not too long ago, when the idea of solar and wind energy was still hotly debated, critics used to point out the limitations of these energy sources: the sun doesn’t always shine and the wind doesn’t always blow. But nowadays many countries’ electricity grids are strongly supplied by renewable...
Due to the recent fall in oil prices that hit the oil and gas industry, deepwater oil and gas operators around the globe were forced to come up with innovative solutions to minimise development Capital Expenditure (CAPEX) and make deepwater oil and gas development projects economically feasible.
One solution proposed...