Gold miners will need to invest $37 billion into projects in the next five years to maintain 2019 production levels and counter the prospect of peak supply, consultancy Wood Mackenzie said in a report on Wednesday. With no major new gold discoveries over the last few years, miners have resorted...
The Auditor-General (A-G) has submitted a report on the Management of Petroleum Funds for 1st January 2018 to 31 December 2018 to Parliament. A statement signed by Mrs Ama Awoe-Bosumafi Assistant Director of Public Relations Unit on behalf of the Director General, and copied to the Ghana News Agency, in...
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...
Oil slumped on Monday, extending last week's losses, as new coronavirus infections hit China, Japan and the United States' increasing concerns that a resurgence of the virus could weigh on the recovery of fuel demand. Brent crude futures fell $1.32, or 3.4percent, to US$37.41 a barrel by 0716 GMT, while...
Ivory Coast farmers say leaving crop to rot Cashew prices at unprofitable lows, some farmers say Africa raw cashew exports to fall 30% - industry body Buying picks up in Ghana, output on track to reach target Olivier Gore-Bi took out loans to ready his 12-acre cashew farm in...
To promote transparency and reduce all corruption risks associated with the awarding of mining licenses and permits, face-to-face processing must be replaced with digitisation, a new report by Ghana Integrity Initiative (GII), the local chapter of Transparency International, has recommended. Titled ‘Corruption Risk Assessment Report on Mineral Mining Licensing in...
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...
The oil market collapse caused by the COVID-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022. In light of the postponement of multiple final investment decisions (FIDs) on projects and lower...
In the United States, nuclear energy just can’t catch a break. Despite the fact that generating carbon-free energy has never been more important, the nuclear energy industry has been waning for years in the U.S. and now struggles to turn any profit, even while nuclear energy industries are going...
OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market. The group, known as OPEC+, also demanded countries...