Downstream
GOIL devoted GH¢14.5 million to CSR projects in 2021
GOIL Company Limited, an indigenous Oil Marketing Company (OMC), spent GH¢14.5 million in 2021 on delivering its social responsibility programmes with a focus on education, health, and financial inclusion. In 2020, it spent GH¢9.27 million. Mr Kwame Osei-Prempeh, the...
Akufo-Addo grants approval to stop petroleum levy charges for two months
President Nana Addo Dankwa Akufo-Addo has granted approval to zero the Price Stabilization and Recovery Levies on petrol, diesel, and LPG for two months. A statement issued by the National Petroleum Authority (NPA) said the approval follows the advice of the NPA to...
Increase petrol import from Ghana – NPA boss appeals to sole Burkinabe importer
In a bid to improve petroleum products trade between Ghana and Burkina Faso, the National Petroleum Authority (NPA) is reviewing the export and transit arrangements with Societe Nationale Burkinabe d’Hydrocarbures (SONABHY). SONABHY is the only institution mandated by...
Government to reserve downstream petroleum marketing for indigenous companies
Last week, chieftains of the downstream oil and gas industry, the National Petroleum Authority, led by its new chief executive, Dr. Mustapha Hamid, unveiled a major shift in state policy with regards to the structure of the sector. Addressing editors of media houses...
Benin’s Booming Illicit Fuel Trade Calls for New Responses
The illicit fuel trade in Benin has soared since 1980, when the country faced a socio-economic and political crisis that saw unprecedented levels of unemployment, with few opportunities for the youth. The situation isn't much better today. Added to poverty and...
Stakeholders in LPG value chain tasked to maintain standards and professionalism
A three-day capacity building workshop to streamline operations in the Liquefied Petroleum Gas (LPG) industry has ended in Takoradi with a task to LPG managers, service providers and pump attendants to maintain standards and professionalism to avoid occupational...
PIAC calls for review of PRMA, sends proposal to Finance Ministry
The Public Interest and Accountability Committee (PIAC) says it has initiated proposals for the amendment of some provisions in the Petroleum Revenue Management Act (PRMA), the law that governs the country’s oil revenue usage, by Parliament. Speaking in an exclusive...
COPEC hints on hike in fuel price at various pumps
The Chamber of Petroleum Consumers, COPEC, is hinting of an up to 16 pesewas hike in fuel prices at the pumps in the coming days. Executive Secretary of COPEC, Duncan Amoah, called on authorities to put measures in place to address the pending fuel price increase. “If...
IES: Rise In Domestic Fuel Prices, Largely Due To Cedi Depreciation and Taxes
IES Analysts: Elizabeth Sam & Abisola Ganiyu Over the past decade (2010-2019), Ghana has seen a 347 percent increase in price of Gasoline (Petrol) and a 338 percent increase in Gasoil (Diesel) price at the pump, largely because of Cedi depreciation, taxes and...
Plans to Establish Petroleum Hub Giving a Major Boost
Plans to establish a Petroleum Hub in the Jomoro Municipal Area in Western Region have been given a major boost following the assurance of the Paramount Chief of Western Nzema Traditional Area, Awulae Annor Adjei III to make land available for the project. Awulae...
