Muscat, Oman //- – As part of its ongoing efforts to build impactful partnerships and strengthen engagement with diverse customer segments, Oman Oil Marketing Company has signed a collaboration agreement with One More Drive Group. The signing ceremony took place on 23 June 2025 at the Oman Oil Airport Heights Service Station in Muscat.
The Israel-Iran ceasefire and the lack of subsequent retaliatory attacks have drained oil markets of the elevated geopolitical risk that saw Brent near $80 per barrel last week, only to post a $9 per barrel week-on-week drop and trade around $68 per barrel on Friday.
The unpredictable nature of the Israel-Iran conflict has seen Brent bounce in a wide range of $70.56 to $79.04 per barrel this week, set for a slightly bearish closing around $77 per barrel after the Trump administration pushed out the timeline of its potential involvement in the Gulf.
Cape Town, South Africa// — The African Energy Chamber (AEC) (www.EnergyChamber.org) is calling on the World Bank to end its ban on financing upstream oil and gas projects, urging the institution to align with Africa’s urgent need to eradicate energy poverty and achieve sustainable development.
President Mahama has asked the Ministers of Energy and Finance to prepare measures to protect the recent gains made in reducing petroleum product prices, as escalating hostilities between Israel and Iran have started driving up crude oil prices.
Ghana’s government has indefinitely suspended the implementation of the GH₵1 levy on every litre of petrol and diesel, originally scheduled to take effect on Monday, June 16, 2025.
The geopolitical risk premium is back, with Israel’s strikes on Iran bringing ICE Brent futures to $75 per barrel in a world where OPEC+ continues to unwind its production cuts and global demand is decelerating due to Donald Trump’s tariff wars.
Nigeria and Saudi Arabian oil giant Aramco’s discussions regarding a $5bn oil-backed loan have hit a snag following a significant drop in crude oil prices, reported Reuters, citing sources.
ICE Brent futures are set to close this week above $66 per barrel, a more than 3% weekly gain, after the prospect of US-China trade talks buoyed markets.
Accra, Ghana//- The Government of Ghana, Tullow Oil plc (Tullow), Kosmos Energy (Kosmos), PetroSA, Ghana National Petroleum Company (GNPC) and Explorco today announced that they have entered into a Memorandum of Understanding (MoU) to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences to 2040, which cover the Jubilee and TEN […]
