oil

Aliko Dangote’s Net Worth Jumps To $28 Billion, Driven By Massive Oil Project
17 Oct

Aliko Dangote’s Net Worth Jumps To $28 Billion, Driven By Massive Oil Project

Wontumi1Business,
African billionaire Aliko Dangote is wealthier than ever now that his long-awaited Nigerian oil refinery is up and running. But his mood suggests a man who just built his dream house only for the roof to start leaking. The Dangote Refinery outside Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types. It has the potential to transform Nigeria’s economy by making the country self-reliant for fuel. And it’s more than doubled his net worth to $27.8 billion, according to the Bloomberg Billionaires Index. He said he…
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Oil Rises On Middle East Tensions
03 Oct

Oil Rises On Middle East Tensions

Wontumi1Business,
Oil prices increased as escalating tensions in the Middle East continue to fuel fears of a disruption to crude oil flows. Brent climbed to $74.83 per barrel during early trading hours on Thursday. US benchmark West Texas Intermediate (WTI) increased by 1.4% to $71.08 per barrel after closing at $70.1 in the prior session. Oil prices had jumped strongly after Iran, a key producer and member of the Organization of the Petroleum Exporting Countries (OPEC), fired around 180 ballistic missiles at Israel. According to Iran’s Islamic Revolutionary Guard Corps (IRGC), the attack was in response to the assassinations of Hamas…
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Oil Hits 5-Month Low
11 Dec

Oil Hits 5-Month Low

Wontumi1Business
Oil stretched declines into a fifth session — touching the lowest since early July — as a flood of US exports and doubts over whether OPEC+ will be able to deliver on its planned production cuts raised concerns about oversupply. Global benchmark Brent dipped to trade below $77 a barrel after slumping by more than 7 per cent over the previous four sessions. American crude shipments are nearing a record six million barrels a day, according to estimates from ship-tracking firms, the latest indication of how ample supplies of US crude are weighing on markets across the globe. Reflecting the…
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Oil Prices Surge By Over 3% Amid Israel-Hamas War
09 Oct

Oil Prices Surge By Over 3% Amid Israel-Hamas War

Wontumi2Business
Global oil prices have rose by more than 3 percent per barrel on the Asian trade market on Monday amid military clashes between Israel and the Palestinian Islamist group, Hamas. The political tensions in the Middle East region has resulted in uncertainty while investors have raised concerns about oil demand supplies. As of Monday, October 9 prices of Brent crude rose by $3.10 or 3.67 percent per barrel while U.S. West Texas Intermediate (WTI) crude sold at $86.05 a barrel, up by $3.26 or 3.94 percent. According to Reuters, both benchmarks had surged more than $4 a barrel earlier, before…
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Concerns Heighten Over Ghana’s Declining Oil Production
30 May

Concerns Heighten Over Ghana’s Declining Oil Production

Wontumi2Business,
The Public Interest and Accountability Committee (PIAC) has made a clarion call for the country to expedite processes to reverse declining crude oil production – warning that revenues from the sector will drop if nothing is done. The PIAC, a public watchdog over use and management of petroleum revenue, also cautioned that multi-billions worth of hydrocarbon resources risk being stranded in the face of the global energy transition if efforts are not made to intensify exploration, appraisal and development of oil assets. Having peaked at 71,439,585 bbls in 2019, crude oil production from the country’s three producing fields – Jubilee,…
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Gold For Oil: Gov’t Must Give More Support To Akonta Mining Than Foreign Mining Companies- Financial Expert
29 Nov

Gold For Oil: Gov’t Must Give More Support To Akonta Mining Than Foreign Mining Companies- Financial Expert

Kakra NunuBusiness, News, ,
A Finance and management expert is calling on the government of Ghana to support the operations of Akonta Mining Limited if it aims to solidify its initiative to purchase oil products with gold rather the US dollars. Mr. Ishaq Kyei-Brobbey stated on Wontumi TV on Tuesday that government must emulate the culture of other countries where they set an agenda to support their own business folks over foreign nationals or companies. He therefore called for massive support for Akonta Mining Limited- a wholly Ghanaian owned mining company that is into large scale mining and owned by Mr. Bernard Antwi-Boasiako popularly…
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