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Petroleum product prices fall since start of G4O – President Akufo-Addo
Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana, has indicated that petroleum products prices are marking consistent reductions since the implementation of the Gold for Oil policy began earlier this year. He made this known during his delivery of the...
Fuel prices to fall up to 11% in February ‘23
Petrol and diesel prices are expected to fall by 7.1% to 10.8% at the pump, beginning Thursday February 16, 2022. However, Liquefied Petroleum Gas (LPG) prices will rise over the next two weeks. According to the Institute for Energy Security (IES), petrol will cost...
Engen, Vivo Energy merge to create Pan-African Energy Champion
Engen and Vivo Energy have announced the merger of their respective African businesses, which will result in the formation of one of Africa's largest energy distribution companies. Across 27 African countries, the combined group will have over 3,900 service stations...
Gold for Oil deal to reduce cost of importing oil products
The National Petroleum Authority (NPA) has assured the public that the Gold for Oil (G4O) initiative will ensure that the cost of importing products from international oil traders is comparatively cheaper, and will supply 50% of the country's oil needs by March 2023....
GOIL attributes diesel price drop to Gold for Oil deal
GOIL, a leading Oil Marketing Company (OMC), has attributed the drop in diesel prices to the impact of the 'Gold for Oil' barter programme. GOIL announced a 4% decrease in diesel prices, resulting in a litre selling for $15.25. However, the company kept the price of...
Ghana’s resources to be key in transition – NAPO
Dr. Matthew Opoku Prempeh, the Minister for Energy, has reiterated that Ghana will use its oil and gas and other resources as the key components to achieve its ambitious energy transition. This position, which is now shared by the entire African continent as expressed...
Nigeria: State security urged to go after fuel saboteurs
The Natives, an anti-sabotage organisation, has tasked security agencies – particularly the Department of State Services (DSS) and the Nigeria Security and Civil Defence Corps (NSCDC) – with tracking down oil marketers and other saboteurs responsible for fuel scarcity...
Gold for Oil: BOST sells first consignment of fuel
The Bulk Oil Storage and Transportation Company (BOST), on Thursday, January 19, began selling petroleum products obtained through the gold for oil barter arrangement. According to reports, GOIL and other Bulk Oil Distribution Companies have received fuel for the...
4 OMCs sanctioned for illicit petroleum trading
The National Petroleum Authority (NPA) has sanctioned four Oil Marketing Companies (OMCs) for engaging in illegal third-party trading and petroleum product lifting. For breaking the Authority's seals, Lilygold Resources Limited will pay a fine not exceeding five times...
Ugandan Petroleum Authority anticipates reduction in fuel prices
The Petroleum Authority of Uganda has predicted that fuel prices will continue to fall in the country as supply chains expand and the Central Bank adopts more conservative monetary policies. At the time of publication, a litre of petrol cost an average of Shs5,120...
