ExxonMobil Faces the Worst Loss in its History
Exxon Mobil posted its worst loss in history in the aftermath of the effects of the COVID-19 pandemic which has caused a brutal loss to the oil giant's business and...
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South Sudan: Daily Oil Production Drops by 20,000 bpd – Ministry of Petroleum
Oil production in South Sudan has dropped by 20,000 barrels per day from 190,000 barrels per day to 170,000 barrels per day due to the rising cases of coronavirus. The...
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Barkindo Praises the U.S, other Countries for Aiding Global Oil Market Recovery
The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo, applauded the role of world political leaders in aiding the recovery of the global oil market. For...
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IMF Make Lowest Economic Projection in over 50 years for the Middle East and North Africa
According to World Bank data, the latest projection by the International Monetary Fund (IMF) on the Middle East and North Africa is the lowest in over 50 years. The IMF,...
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Ghana has already lost $1.04 billion in the Oil Sector due to COVID-19 pandemic
The Director-General of the Ghanaian Petroleum Regulator, Egbert Faibille Jr, revealed that the COVID-19 pandemic has caused a shortfall of $1.04 billion for Ghana. Exploration is said to be the...
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FAR Senegal Cuts Staff Salaries and May Consider Selling Part or All of its Assets in Senegal
FAR Limited has announced a 20 per cent salary reduction for all senior executives and Non-Executive Directors effective July 1, 2020. It also said that it had made staff redundancies....
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Equatorial Guinea Plans on post-COVID-19 Recovery as it Adopts New Petroleum Regulation
“This new regulation allows Equatorial Guinea to continue being a world reference in the hydrocarbons sector." The Ministry of Mines and Hydrocarbons, Equatorial Guinea has announced the adoption of the...
Read More Ghana Encouraged to Diversify and Focus on Other Sectors
The effect of the COVID-19 pandemic on the global oil sector, which has led to a fall in oil prices, is allowing Ghana an opportunity to re-strategize from its dependence...
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New IEA Reports Predict Energy Investments May Fall by One-Fifth in 2020
The International Energy Agency has recently released the fifth edition of its annual World Energy Investment report, where it looks at the effect of the COVID-19 pandemic and its impact...
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