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Banking fears causes oil to hit lowest since 2021

As traders worried that a developing banking crisis may slow down global economic development, oil prices fell dramatically on last Wednesday. West Texas Intermediate futures hit...

Bleeding is permitted – Bawumia makes mockery of Gold-for-oil critics

On March 15, 2023, Vice President Dr. Mahamudu Bawumia, who serves as the head of Ghana's economic management team, took aim at those who...

Uganda starts its first oil drilling operation

Uganda has officially began drilling for crude oil in the Kikuube and Hoima districts' Kingfisher Oil Field (KFDA). Several government representatives and President Yoweri Museveni...

Greece, Bulgaria discuss oil pipeline bypassing Bosphorus Strait

An EU embargo on Russian oil and a transit fee hike to use the Bosphorus Strait are reviving a shelved pipeline plan. A European Union...

Oil dips near 2-month lows as supply concerns ease

Oil prices hovered near two-month lows on Monday as supply fears receded while concerns over China’s fuel demand and rising interest rates weighed on...

India will continue to purchase oil from Russia as ties strengthen

India's foreign minister says purchasing oil from a "steady and time-tested partner" is economically advantageous. Foreign Minister Subrahmanyam Jaishankar said during his first visit to...

NPA fines 9 companies for unlawful fuel lifting

The National Petroleum Authority (NPA) has fined nine oil marketing companies GH¢2.22 million for engaging in illicit Third-Party trading of petroleum products, and unlawful...

Capping fuel prices wrong policy, says BoG

Dr Ernest Addison, the Governor of the Bank of Ghana (BoG), has said capping fuel prices is a wrong policy. There have been calls for...

Ukraine war: Russia becomes China’s biggest oil supplier

Russia has become China's biggest supplier of oil as the country sold discounted crude to Beijing amid sanctions over the Ukraine war. Imports of Russian...

Saudi Aramco: Oil giant sees profits jump as prices surge

Saudi Aramco has posted its highest profits since its 2019 listing as oil and gas prices surge around the world. The state-owned energy giant saw...

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