Category archives for: Oil & Gas

Sub-Saharan Africa Faces Pressure from Oil Price Shock, Pandemic Rout

April 9, 2020//-Zambia has become the latest African country looking for help to tackle its hefty debt burden this week as international lenders and analysts are warning the pandemic crisis could push many of the continent’s economies into debt distress.

Ghana: Ministry of Finance Must Halt Plans to Draw Down on Heritage Fund

Accra, April 3, 2020//-Ghana’s Minister for Finance, Ken Ofori-Atta, addressed Parliament on the economic and potential impact of Covid-19 on the economy of Ghana on 30th March 2020.

COVID-19: Minority Vows to Resist Attempts by Gov’t to Draw from Heritage Fund

Accra, Ghana, March 31,2020//-Ranking Member on Parliament’s Finance Committee, John Jinapor, has said the Minority will resist any attempt by the government to take money from the Heritage Fund to finance the Coronavirus Alleviation Programme (CAP).

Prof John Gatsi: Don’t Use COVID-19 To Bargain To Use the Heritage Fund 

Accra, Ghana, March 30, 2020//-The presentation made to Parliament by Ken Ofori-Atta, Ghana’s Minister of Financ on the economic impact of the Coronavirus (COVID-19) pandemic suggests that the targeted  surplus primary balance and lower than 6% budget deficit are not to be expected by end of the fiscal year.

Oil Tumbles Towards $20 As Glut Grows

March 28, 2020//-The brief rebound in oil prices was never going to last in the current environment, and as the global crude glut nears historic highs, prices are heading towards $20.

Ghana: Vivo Energy Supports Lorry Parks on COVID-19 Prevention

Accra, Ghana, March 26, 2020//-As a contribution to the fight against the COVID-19 pandemic, Vivo Energy Ghana, the distributers and marketers of Shell branded products and services has donated boxes of hand sanitizers and liquid soaps to some lorry parks to ensure basic hygiene is observed in the discharge of their duties.

COVID-19: ACEP Predicts Drop in Oil Revenue

Accra, Ghana, March 23, 2020//-The Africa Centre for Energy Policy (ACEP) has predicted a huge drop in the government of Ghana’s projected revenue for 2020.

Oil Plunges As Saudis Boost Exports To Record High

March 18, 2020//-After having instructed Aramco to boost production to unseen levels, Saudi Arabia now plans to boost oil exports in May to a record 10 million barrels per day, causing oil prices to fall once again.

Oil Demand To Plunge By 10 Million Barrels Per Day

March 17, 2020//-As major economies go into lockdown, oil demand continues to fall off a cliff. On Monday, WTI fell into the $20s.

Oil Markets Prepare For Bankruptcies, Layoffs And A Drilling Slowdown

March 13, 2020//-Oil prices have fallen nearly 50 percent since the start of the year and the short-term outlook isn’t looking very promising as OPEC and Russia continue to boost supply.  

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