Yorm Energy News

BOST Makes GHS55 Million Profit Pre-Tax In 2021 This video is an interview with Managing Director of Bulk Oil Storage and Transportation Company Limited.

Zeroing of Price Stabilization and Recovery Levies (PSRL) by National Petroleum Authority on petroleum products takes affect from November 1, 2021. This means there could be possible reduction in prices at the pumps from next month.

According to offshore-technology.com, Occidental Petroleum has agreed to sell off its interests in two fields offshore Ghana to Kosmos Energy and Ghana National Petroleum Corporation (GNPC) for $750m.

It further added "the two fields together reported net production of 22,000 barrels of oil equivalent per day in the 2nd quarter of 2021."

-- August 13, 2021

-- June 15, 2021

-- June 10, 2021

-- June 07, 2021

-- May 24, 2021

-- May 22, 2021

-- May 17, 2021

Shell Makes Deepwater Discovery

Shell Makes Deepwater Discovery and More Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

-- May 15, 2021

-- May 14, 2021

CAN LIBYA'S OIL INDUSTRY MAKE A COMEBACK IN 2021?

Can Libya’s Oil Industry Make A Comeback In 2021? | OilPrice.com Libya has managed to boost crude exports at the beginning of 2021, but a number of operational and political risks continue to threaten the stability of its exports

HOW AN OIL COMPANY BECOMES A RENEWABLES COMPANY

(Financial Post) -- How can an oil company get half its revenues from renewable energy? One company shows how.

A few weeks ago a raft of oil majors released their first-quarter results, with companies like Royal Dutch Shell Plc showing a return to pre-pandemic profit levels. At the same time, some of the majors increased their energy transition commitments: Spanish firm Repsol SA devoted 40 per cent of its capital expenditure to low-carbon projects, and France’s Total SE stated plans to increase its renewable energy capacity five-fold over the next four years.

There are energy-transition commitments, though, and then there are energy-transition results. And on the latter side, one company shines: Norway’s state-owned oil producer, Equinor ASA. It posted more than US$2.6 billion of earnings in the first quarter of 2021, 49 per cent of which was from renewable energy. Last quarter, Equinor earned more from renewables than it did from oil and gas exploration and production.

But Equinor’s results are more than evidence of a successful renewable-energy strategy. They’re also a sign of the challenge ahead for other oil majors with similar ambitions.

>>more here:

How an oil company becomes a renewables company How can an oil company get half its revenues from renewable energy? One company shows how

NIGERIA: ZUNGERU HYDROELECTRIC PLANT TO DELIVER FIRST MW IN DECEMBER

(Africa Energy Portal) -- Following an inspection visit to the site of the Zungeru hydropower project, Niger State authorities say that the first turbine of the plant will be operational in December 2021. The facility built in west-central Nigeria will have a capacity of 700 MW.

Work is nearing completion at the Zungeru hydropower project site. According to the Niger State government’s plans, the hydroelectric plant will deliver its first MW in December 2021. The announcement was made after an inspection visit by local authorities to the project site. According to Abubakar Sani-Bello, the governor of Niger State, the first turbine of the Zungeru hydropower plant will be commissioned in December 2021.

“This is a milestone for us in Niger State. It is to be celebrated, we hope that when the project is delivered, it will enhance power generation, economic activities and many other things,” Governor Abubakar Sani-Bello enthuses. The other three turbines will be commissioned in 2022. The facility, built by the Nigerian federal government, is approaching its operational phase, eight years after construction began.

A project financed by China

A few weeks ago, Nigeria’s Bureau of Public Enterprises (BPE) launched a call for tenders to recruit a company to assist in the concessioning process of the Zungeru hydroelectric plant. The facility will operate with a roller-compacted concrete dam built on the Kaduna River, a tributary of the Niger River. The dam has a height of 101 m and a length of 233 m, forming a reservoir capable of storing 10.4 billion m3 of water. The underground power plant behind the dam will be equipped with four turbines of 175 MW each.

>>more on Africa Energy Portal

Nigeria: Zungeru Hydroelectric Plant to deliver first MW in December | Africa Energy Portal Following an inspection visit to the site of the Zungeru hydropower project, Niger State authorities say that the first turbine of the plant will be operational in December 2021. The facility built in west-central Nigeria will have a capacity of 700 MW.

-- May 11, 2021

-- May 10, 2021

-- May 08, 2021

U.S oil rig count increases to 440. This amongst covid-19 vaccination gives hope to oil price recovery. And oil could possibly edge towards $75 per barrel by end of 2nd quarter, 2021.

-- May 07, 2021

80% OF U.S. COAL PLANTS ARE UNECONOMIC AS RENEWABLES COSTS DROP

(Oilprice) -- As much as 80 percent of the coal-fired power plants in the United States are already uneconomic compared to new wind and solar projects, energy and climate policy think tank Energy Innovation said in new research this week.

The combined costs for fuel, maintenance, and other costs at most operating coal power plants in the U.S are higher than the all-in costs of new solar and wind projects because of the cost declines of wind and solar generation, Energy Innovation said.

The think tank’s report, The Coal Cost Crossover 2.0, compares the economics of each U.S. coal-fired power plant against the expected economics of potential new wind and solar plants nearby, using publicly available data.

“Out of the 235 plants in the U.S. coal fleet, 182 plants, or 80 percent, are uneconomic or already retiring,” Energy Innovation said.

The key findings of the report show that of existing U.S. coal capacity, 72 percent is either more costly to operate than new nearby wind and solar or is slated to retire by 2025. Of the existing U.S. coal-fired plants, 80 percent are more costly to operate than new nearby wind and solar plants or are slated to retire by 2025.

>>Read full story here:

80% Of U.S. Coal Plants Are Uneconomic As Renewables Costs Drop | OilPrice.com As much as 80 percent of the coal-fired power plants in the United States are already uneconomic compared to new wind and solar projects, energy and climate policy think tank Energy Innovation said in new research this week

WILL OIL HIT $80 THIS SUMMER?

Will Oil Hit $80 This Summer? | OilPrice.com Oil prices have recovered significantly since the beginning of this year, and while some analysts expect crude prices to hit $80 this summer, others don’t expect prices to go much higher from here

-- May 06, 2021

-- May 05, 2021

A CANADIAN OIL FIRM THINKS IT HAS STRUCK BIG - SOME FEAR IT COULD RAVAGE A CLIMATE CHANGE HOTSPOT

A Canadian oil firm thinks it has struck big. Some fear it could ravage a climate change hotspot Syringa trees rise out of the Kalahari sand in the wild expanse of Kavango East, as the humid heat warns of afternoon showers. It's easy to imagine this place has looked the same for a hundred years.

-- May 04, 2021

ELECTRIC VEHICLE CHARGING: IS IT REALLY SUCH A BIG PROBLEM?

Electric Vehicle Charging: Is It Really Such A Big Problem? Charging an EV publicly is more hassle than putting fuel in an internal combustion car, but is it really such a dealbreaker? Not if you do you research properly first before buying electric.

NATURAL GAS CONTINUES JUST BELOW MAJOR RESISTANCE

Natural Gas Price Forecast - Natural Gas Continues Just Below Major Resistance Natural gas markets have been slightly bullish during the trading session on Monday, as we continue to see the market challenge the $3.00 level.