Tag Archives: crude

Nigeria’s state-owned oil company says an oil tanker carrying 800,000 litres of stolen crude has been intercepted offshore while heading to Cameroon. It said the vessel would be destroyed as a deterrent. Nigeria’s state-owned oil firm said the oil had been stolen from a well in the south-western state of …

The National Petroleum Authority (NPA) has reported the confiscation of a substantial amount of smuggled crude oil and diesel in the Western Region between January and April 2023. During separate operations conducted by the Ghana Navy and Marine Police, a total of 108,000 litres of diesel and 73,000 litres of …

     Crude oil production has been on the decline at an average of 10 per cent per annum for three consecutive years, the Public Interest and Accountability Committee (PIAC) has observed. It explained that a volume of 71,439,585 barrels (bbls) was produced in 2019, but declined to 66,926,806 bbls in …

The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, reiterated that falling fuel prices at the pump is the result of a general reduction on the global crude oil market and a stable cedi, and not the gold-for-oil barter policy. He said domestic consumers, just like …

The Herald is picking up mixed signals as to the real owners of the 600,000 tonnes of Russian fuel, which have been shipped and stored in Ghanaian tanks revealed by the international business news network, Bloomberg. Whilst, some have linked the consignment to a Tema-based company by name Platon, others …

Nigeria, with crude oil reserves of more than 37 billion barrels and the 6th largest world producer, has discovered and launched the first oil drilling project in the north after decades of exploration. The Nigeria National Petroleum Corporation Limited (NNPC) unveiled the discovery of hydrocarbon deposits in the Kolmani River …

Nigeria may not be able to meet its OPEC quota in September due to rising crude oil theft which has seen Africa’s largest economy lose 20% of its daily crude production to oil thieves and pipeline vandals. This was disclosed by Wale Tinubu, the Group Chief Executive Officer, Oando Plc, at …

Communication Director of the National Petroleum Authority (NPA), Abdul Kudus Mohammed, has explained that the pricing of fuel prices cannot be controlled when its implication on the global market remains on the rise. According to earlier reports from Bulk Oil Distribution Companies, the price of petrol is anticipated to decrease …

The Apremdo community in Effia Kwesimintsim Municipality in Western Region, has discovered an unknown substance beneath the soil, and suspected of being crude oil. Although the discovery of the substance has caused anxiety in the community, the traditional ruler in the area, Nana Egya Kwamena Xl, has taken up the …

Ghana owns only 27,000 barrels, representing 18 per cent of the 150,000 barrels of crude oil produced in the country daily. This is woefully less than the 96,000 barrels of crude oil the country consumes daily and does not have any significant influence on the continuous increase in prices of …