TOR Increases Daily Crude Production By 20,000 Barrels

The Tema Oil Refinery (TOR) is set to increase its daily production capacity following a successful test run of the expanded processing units. Per the expansion, the Crude Distillation Unit will now produce 65,000 barrels of crude oil a day from the current 45, 000 barrels’ level. The Managing Director of TOR, Kwame Awuah Darko who … Read more

Oil Production To Hit 190,000 Barrels Per Day

Production of oil in Ghana will hit 190,000 barrels per day by the end of the year, Ecobank Research has projected. This is against 110,000 barrels of oil currently being produced by the Jubilee (80,000 b/d) and the Tweneboa, Enyenra and Ntomme (TEN, 30,000b/d) fields. If achieved, this would make Ghana the 6th leading producer … Read more

TOR Begins Test Run of Oil From TEN

The Tema Oil Refinery (TOR) has begun a test run on about one million barrels of crude oil from the Tweneboa, Enyera and Ntomme (TEN) fields in the Western Region to establish whether or not the oil is compatible with the refinery’s Crude Distillation Unit (CDU). The crude oil from the TEN fields was discharged … Read more

Oil Prices Soar

Oil prices today Monday 12 December shot to their highest levels since mid-2015 after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up markets. Brent crude, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between … Read more

OPEC, Non-OPEC Agree First Global Oil Pact Since 2001

OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. With the deal finally signed after almost a year of arguing within the Organization of … Read more

Oil Prices Rise On U.S. Crude Stock Decline, Weaker Dollar

Oil prices edged up in thin trading on Thursday after steep falls in the previous session, supported by a weaker dollar, positive economic data and a drawdown in U. S. crude stocks. International Brent crude futures were trading up 4 cents at $53.04 a barrel at 0345 GMT after closing the previous session down 93 … Read more

OPEC Deal Sends Oil Spiking 14% In 3 Days

Don’t blink. You might miss another jump in oil prices. Crude has spiked 14% in just the past three days, ending Friday at a 17-month high of $51.68 a barrel. OPEC breathed new life into crude this week by shocking skeptical Wall Street with an agreement to cut production for the first time since 2008. … Read more

Oil Price Soars As Opec Agrees Output Cut

Saudi Arabia agreed to cut output by about 500,000 barrels per day – a total reduction of 4.5%. The oil cartel Opec has agreed its first supply cut in eight years in order to boost the price of oil. Mohammed Bin Saleh Al-Sada, Opec’s president, said a cut of 1.2 million barrels a day would … Read more

Oil Extends Slide Below $46 On Skepticism Over Opec Output Deal

Oil extended declines to slip below US$46 a barrel amid skepticism over OPEC’s ability to reach an agreement to cut output as representatives meet on Monday amid last-minute negotiations to reach a deal. Futures fell as much as 2 percent in New York after dropping 4 percent on Friday. Saudi Arabia for the first time … Read more

Oil Prices Drop Ahead of Opec Meeting

The price of benchmark crude oil has fallen almost 4% as traders question whether Opec can agree on a deal to limit production. In September the oil exporting cartel members voted for the first production cut in eight years. Details of the agreement are due to be finalised at a formal Opec meeting in Vienna … Read more

Western Region Economy Slums As Oil Prices Dip; Situation To Improve In 2017

The global fall in prices of crude has slowed down operations of businesses in the oil and gas sector in Sekondi-Takoradi Metropolis. The economic situation in the Western Regional capital improved largely due to the discovery of oil and gas in 2007 as businesses and multinationals flocked to the city. But the sharp downturn in … Read more

Oil and Gas Sector Likely To Improve In 2017

The global fall in prices of crude has slowed down operations of businesses in the oil and gas sector in Sekondi-Takoradi Metropolis. The economic situation in the Western Regional capital improved largely due to the discovery of oil and gas in 2007 as businesses and multinationals flocked to the city. But the sharp downturn in … Read more

Tullow To Resume 90 Mmscf Gas Supply To Ghana Gas

Tullow Oil is expected to resume its daily 90 million standard cubic feet of natural gas supply to Ghana Gas effective today, November 22, 2016. Tullow, early this month announced a reduction of its daily natural gas supply by 40 million standard cubic feet to allow it complete a “critical turret remediation works upstream.” The … Read more

How To Boost Local Participation In Ghana’s Oil and Gas Sector [Article]

Ghana discovered oil in commercial quantities offshore along the Cape Three Points in the Western Region in 2007 after years of prospecting. Production in the Jubilee Field started with 80,000 barrels of crude oil per day and has currently reached a production level of 110.000 barrels per day. It is expected to peak at 120,000 … Read more

U.S. Opens Door To Oil Exports After Year of Pressure

U. S. opens door to oil exports after year of pressure A domestic drilling boom of the past six years has transformed the U.S into an energy powerhouse. The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash … Read more

ENI Gas To Receive FPSO In March 2017

The much awaited for the start of commercial production of gas from the country’s largest gas well being operated by ENI Gas Ghana is to receive the Floating, Production, Storage, Offloading (FPSO) vessel in March 2017. The Sankofa Gye Nyame Oil and Gas project, is the largest gas well which will soon produce natural gas … Read more

Shell, Mobil, Others Rated High By Oil & Gas Professionals

Professionals from across the global oil and gas industry have revealed who their employers of choice are – and the attributes they look for from them – in the inaugural Ideal Employer survey 2016. The survey, carried out between July and September 2016, gives a real insight into the workforce’s current thoughts and feelings towards … Read more

Oil Professionals Reveal Their Employer Of Choice

Professionals from across the global oil and gas industry have revealed who their employers of choice are – and the attributes they look for from them – in the inaugural Ideal Employer survey 2016. The survey, carried out between July and September 2016, gives a real insight into the workforce’s current thoughts and feelings towards … Read more

Oil Pinned Near Three-Month Lows As Gloom Grows Over OPEC

Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that OPEC will reach a deal to cut output. Donald Trump’s surprise victory in last week’s U. S. presidential election has boosted stocks and the dollar, but undermined much of the commodities … Read more

Ghana’s Third FPSO To Be Delivered In March 2017

Ghana’s oil and gas industry is to receive a major boost with the country set to take delivery of its third floating production storage and Offloading vessel in March next year. According to operators of the Sankofa OCTP Oil Field, ENI Ghana, development is in an advanced stage with the first lifting of oil expected … Read more