Energy Ghana

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Local insurers land multimillion US$ oil deals

The National Insurance Commission (NIC) and the Petroleum Commission have reached an agreement that mandates companies in the upstream petroleum sector to cede their insurance business to local insurers, in line with efforts to maximise the participation of local insurance companies in the oil & gas sector.

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Banks loses out on risk-free oil deals

The Petroleum Commission (PC) has noted that many local banks are missing out on a number of risk-free deals in the oil and gas industry due to their failure to research and understand workings in the upstream petroleum sector.

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IFC partners VRA to help improve power generation in Ghana

International Finance Corporation IFC, a member of the World Bank Group, has announced that it has signed a Memorandum of Understanding with the Volta River Authority (VRA), Ghana’s national power generation utility, to support private sector investment in Ghana’s power sector.

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GRIDCo records GH¢303.23m income

The Ghana Grid Company Limited (GRIDCo) recorded a total income of GH¢303.23 million, representing a 12 per cent increase in its revenue and a net profit of GH¢16.79 million by the end of last year.

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GRIDCo records GH¢303.23m income

 

The Ghana Grid Company Limited (GRIDCo) recorded a total income of GH¢303.23 million, representing a 12 per cent increase in its revenue and a net profit of GH¢16.79 million by the end of last year.

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Weston Oil and Gas Fund launched

 

A new mutual fund that will help develop the country’s oil and gas industry has been launched in Accra.

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Govt Releases GH¢25m To Support Premix Supplies

 

The government has released GH¢25 million to cushion the company which supplies premix fuel to canoe fishermen in coastal areas.

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Banks blamed for nationwide diesel shortage

 

The National Petroleum Authority (NPA) has attributed the current shortage of diesel across the country to a hold on stocks by banks providing lines of credit to Bulk Oil Distribution Companies (BDCs).

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Cost of $300M loan facility not good for Ghana – Minority

 

The Minority in Parliament has criticized the decision by the House to approve a 300 million credit facility between government and VTB Bank Capital describing it as “bogus”.

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Depreciating cedi impacts imported petroleum products

 

The Director of Research for the African Centre for Energy Policy (ACEP), Mr John Peter Amewu, has stated that the depreciating cedi is impacting on the prices of imported petroleum products.

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PIAC worried about interpretation of Petroleum Act

 

The Public Interest and Accountability Committee (PIAC) has expressed concern over the manner in which the Petroleum Revenue Management Act (PRMA), 2011 (Act 815) has been interpreted to justify transfers of money from the Ghana Stabilisation Fund (GSF).

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East African oil and gas discoveries to kick-start economic transformation

 

East African oil and gas discoveries are poised to fundamentally transform the economies of the region as the fuel resources usher in new investment in road, rail, power and industrial infrastructure, according to Standard Bank Group.

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Ongc Videsh Raises $2.2b To Refinance Rovuma Area 1 Acquisitions

 

ONGC Videsh Ltd., the wholly owned subsidiary of Oil and Natural Gas Corp. Ltd., has priced $1.5 billion and €525 million unsecured bonds in the international capital markets.

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