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Ecuador’s President Noboa demands $1.5 billion early payment for major oil deal

Oil & Gas 360º

(World Oil) –Ecuadors President Daniel Noboa has ordered a consortium seeking to take over the nations top oil asset to pay an entry fee of $1.5 Previously, the consortium of local subsidiaries of Chinese oil company Sinopec and New Stratus Energy Inc. billion by March 11, moving up the deadline by more than three weeks.

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Libya launches first oil exploration bid round in 17 years

Oil & Gas 360º

(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment.

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Ghana’s crude oil production dips 9.54% in 2023

Reporting Oil and Gas

percent decline in crude oil production. Total crude oil produced amounted to a total of 35.42 This decrease is linked to the natural decline in the Tweneboa, Enyenra, and Ntomme (TEN) field, leading to an escalation in the gas-to-oil ratio and water production in the Jubilee and Sankofa fields.

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30% of Ghana’s crude oil consumption purchased through Gold for oil programme – Lands Minister

Reporting Oil and Gas

The Minister for Lands and Natural Resources, Samuel Abu Jinapor, commended President Akufo-Addo and Vice President Dr. Mahamudu Bawumia for the successful implementation of the Gold for Oil Policy, hailing it as a pivotal strategy that stabilized the local currency and alleviated fuel costs.

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Weak refinery, export demand weakens prices for Midland crude along Texas coast

Oil & Gas 360º

Meanwhile, Permian-quality crude at the Magellan East Houston (MEH) terminal, the main price assessment point along the Gulf Coast, traded at a $1.31 crude futures. Net input of crude oil to refiners on average over 4 weeks to the last week was 15.5 crude export volumes also eased 9,000 bpd to 3.88 premium to U.S.

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What is the Iraq-Turkey oil pipeline dispute and who's on the hook?

Energy Central

According to the federal government of Iraq, only SOMO, a state-owned marketing company, is authorized to oversee crude exports through Ceyhan.

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Pemex oil exports fall in January, including by 36 percent to U.S.

Permian Basin Oil and Gas Magazine

Crude oil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. Thats its lowest in decades, according to Reuters , as the company has admitted it is struggling with crude quality.