The International Energy Agency (IEA) bumped up its 2020 oil demand forecast last week Friday but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month, citing...
Global oil demand has rebounded somewhat faster than previously thought, although the spread of the corona virus in the United States and Latin America is “casting a shadow over the outlook,” the International Energy Agency (IEA) wrote in its latest Oil Market Report. The last few weeks have seen crude...
The Bank of Ghana has commended GOIL Company Limited for taking the initiative as the first Oil Marketing Company to enter into the electronic payment system through the “GOIL/gh-link Card usage at all GOIL Filling Stations. Mr Setor Amekudzi, Head of BoG Payment Systems who gave the commendation said digitization...
GOIL Company in Ghana (GOIL), in partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS), has launched the gh-link card on GOIL’s Point of Sale (POS) devices for use across the country. With this development, all gh-link cards used mainly by banks and other financial institutions can now be...
Samuel has been a cocoa farmer for 12 years. Since the end of the Akuafo cheque system, he had always been paid in cash for his cocoa, until last season. That was when the licensed buying company (LBC) that he sells to introduced a new system for purchasing cocoa....
With new data showing that global carbon emissions are rebounding more quickly than expected after coronavirus lockdowns are eased, questions are being asked about the prospects for renewable energy projects in emerging markets.  Just as the pandemic has had an considerable impact on the global economy, travel restrictions and the suspension of...
We are now at a crossroads in Libya where a military solution is temporarily off the table, as factions and their external allies wrangle over oil revenues--the distribution of which will now decide when the pumps are turned back on and force majeure lifted. For the first time in seven...
As the COVID-19 pandemic bashes economies and demand for oil, many African nations dependent on exporting fossil fuels are “haemorrhaging” cash, African energy experts warned this week. The crisis - which comes as more investors shun carbon-heavy businesses - is a taste of what may happen if Africa’s rich oil...
Oil prices rose on Monday, supported by tighter supplies and a string of data expected to show economic recovery across the globe and despite a spike in coronavirus cases in the United States and other countries. Brent crude LCOc1 was up 73 cents, or 1.7%, to $43.53 per barrel by...
Restrictions of visa issuance are de facto preventing a lot of projects to move forward and to successfully contribute to the recovery of the continent The continuation of travel restrictions and suspension of visas and travel between Africa and Europe is heavily restraining the oil & gas industry’s recovery efforts....