Oil prices firm as Libya supply risks mount

Oil prices reversed earlier losses on Friday as fears that escalating conflict in Libya could disrupt oil supplies from the OPEC member outweighed trade concerns. Brent crude futures rose 34 cents to $69.74 a barrel by 1405 GMT, having touched $70.03 in the previous session, its highest since Nov. 12. U.S. West Texas Intermediate (WTI)

Continue Reading →

Tullow Oil forecasts oil production boost in 2019

Tullow Oil, an Independent oil explorer has issued a statement confirming great hope in the new year 2019. The company believes for growth in its oil production by 10%. The statement was issued on Wednesday and Tullow based its claim on the successful drilling program at its Ghanaian assets. “Tullow is well-placed to deliver on

Continue Reading →

Petrobas

Petrobras signs agreement to sell Petrobras Oil & Gas B.V.

Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (“PIBBV”) signed today a Sale and Purchase Agreement – “SPA”, related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (“PO&GBV”) to Petrovida Holding B.V., a company formed by the partners Vitol Investment

Continue Reading →

Tullow oil

What Kenya needs to do to better protect those working in the oil sector

After decades of failed attempts, Kenya finally struck oil six years ago. Commercially viable reserves were discovered in Turkana, the northwest of the country, by British oil company, Tullow Oil. The basin is estimated to contain about 560 million barrels of oil. While commercial production is a few years away, there’s growing concern that Kenya isn’t ready for the environmental,

Continue Reading →

The World Bank

World Bank bans oil funding

The World Bank has announced it will not fund upstream oil and gas projects from 2019 onwards, as a mean to save the world from disasters of climate change An estimated 1.1 billion people making 14% of the global population do not have access to electricity according to the International Energy Agency. Speaking at the

Continue Reading →