Tag Archives: OIL

Oil prices came under pressure on Thursday ahead of an eagerly awaited meeting of the OPEC oil alliance in Vienna. In early trading, a barrel of North Sea Brent cost $114.46. This was $1.83 less than the previous day. The price of a barrel of US West Texas Intermediate (WTI) …

Three Nigerians allegedly involved in global scams have been arrested in Lagos and Edo states, during an INTERPOL-led operation targeting malware cyber fraud across South-East Asia and the Middle East. A statement by Head, Media and Publicity, the Economic and Financial Crimes Commission (EFCC), Wilson Uwujaren, said the operation was …

The National Petroleum Authority (NPA) has taken notice of infractions by some Petroleum Service Providers (PSPs) who have engaged in illicit third-party trading of Petroleum products and has accordingly applied and the requisite sanctions. A statement from the Corporate Affairs Department of NPA listed the affected companies and accompanying sanctions …

The announcement that South Sudan’s crude oil has been sold in advance to pay for salary arrears has come in for criticism. On Thursday, Finance Minister Agak Achuil said output up until 2027 had been sold in order to pay the salaries of civil servants, who have not been paid …

Dr Chris Kpodar, Chairman, and Chief Executive Officer of Solomon Investments Ghana Limited, has called on the Government to enter into a joint venture with reputable international oil companies to help revamp the Tema Oil Refinery. Dr Kpodar, who is also a Chief Technical Advisor for the Centre for Greater …

The Nigerian Navy said it has arrested a vessel named Motor Tanker Harbor Spirit and 13 persons on board. The Navy, according to a statement by its spokesperson, Ayotunde said the vessel was conveying a fortified and auctioned crude oil from MV KOME XVIII with a forged document. He added that …

Aside from his singing career, legendary Ghanaian highlife musician, Julius Kojo Antwi has also moved into the oil marketing business, opening his first filling station named Torrid Fueling Station. The newly opened fuel station is located at Kasoa Krispo City along the Accra-Cape Coast highway. Announcing this on Facebook, Mr. Music Man, …

The Public Interest and Accountability Committee (PIAC), has indicated that a rural market project at Otu-Kwadjo in the Nsawam Adoagyiri Constituency in the Eastern Region, which was funded and executed with petroleum revenue, does not exist in the specified community. According to the independent statutory body mandated to promote transparency …

Oil prices rose on Friday amid investor concerns over tightening supplies as Russian’s invasion of Ukraine entered its second day. The price of Brent crude oil rose by more than 2% to $101 (£75) a barrel as fighting appeared to intensify near the Ukrainian capital, Kyiv. But stock markets in …

  Nigeria faces environmental disaster Oil vessel with capacity of 2 million barrels explodes and sinks Local media reporting 10 deaths Reports from Nigeria indicates that a giant oil production ship with capacity to store up to 2 million barrels of oil has exploded off the county’s coast. According to …