Oil & Gas
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...
Joint Committee recommends approval of US$1.45 billion loan for GNPC
Parliament’s Joint Committee of Finance and Mines and Energy has recommended to the House to approve a request submitted by government for the Ghana National Petroleum Corporation to borrow US$1.45 billion to acquire significant stakes in two oil blocks and finance...
Unitize to attract investors into upstream petroleum sector – IES to ENI and Springfield
•The IES is pushing for the unitization of Springfield and ENI as directed by the government of Ghana. •the move will act as an effective response to the global investments towards green energy, according to the IES. •The IES’ further argues that unitizing will help...
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...
Ghana Upstream Petroleum Chamber assures Energy Minister of support
The Ghana Upstream Petroleum Chamber (GUPC) has indicated its willingness to support government through a collaborative process by bringing industry and government together to address pertinent issues affecting the sector. The Chief Executive Officer of the Chamber,...
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...
BOST MD calls for approval of 3% margin
Managing Director of the Bulk Oil Storage and Distribution Company (BOST), Mr Edwin Provencal, has called for the approval to increase the BOST margin on petroleum products from 3 pesewas to at least some 12 pesewas. He said it is time for the margin to be approved...
DNV GL to call for offshore verification to evolve at SPE Offshore Europe
Offshore verification needs to move with the times and improve its contribution to safety according to global risk management company, DNV GL. In a paper to be presented at SPE Offshore Europe 2019 this September, DNV GL will reveal, for the first-time, details of its...
Ghana to sign MOU with Côte d’Ivoire for exportation of gas – Akufo-Addo
Ghana through the Ministry of Energy and its partner Ghana Gas, is set to sign a Memorandum of Understanding (MOU) with the government of Côte d'Ivoire to facilitate the bidirectional transportation of gas between the two countries. This will be achieved after the...
Akufo-Addo opens Ghana Gas Headquarters
President Nana Addo Dankwa Akufo-Addo, on Tuesday, 23 July 2019, opened a state-of-the-art Operational Office Complex of Ghana National Gas Company. The office complex is expected to deliver first-class gas operations and support services for the country’s gas sector...
TOR incurs GH¢186m loss in 4 months; total debt stands at GH¢1.5bn
The Tema Oil Refinery (TOR) made a net loss of GH¢186.35 million in the first four months of 2019, according to the refinery’s (TOR) 2019 Variance Report. The huge loss, according to the 2019 Variance Report for the period ended April 30, 2019, was against a budgeted...
TOR loses GHC186m in four months
The Tema Oil Refinery (TOR) has recorded a net loss of GHc186.35 million from January to April 2019, according to a report by the company. Though the 2019 TOR Variance Report, had forecast the company’s operational loss to be around GHc71.70 million for the period, a...
Renaizance Oil Ltd boss busted for defrauding BDC
Chief Executive of Renaizance Oil Limited, David Aseye Tay, is behind bars for allegedly defrauding some Bulk Distribution Companies (BDCs) to the tune of whopping six million dollars ($6m), equivalent of about GH¢28million. Thanks to the law which is no respecter of...
Bulk Oil Distribution Companies commend BOST for setting-up call centre
The Bulk Oil Distribution Companies (BDCs) have commended the management of Bulk Oil Storage and Transportation (BOST) company limited for setting-up a Call Centre to enable stakeholders have a quick response to issues regarding their stock balance. The BOST Call...
BOST praised for involving stakeholders in decision making
The introduction of Call Centre by the new management of Bulk Oil Storage and Transportation (BOST) company limited led by the Managing Director Mr. George Mensah Okley has received applause from its stakeholders Bulk Oil Distribution Companies (BDCs). In a...
BOST approves conditions of service for staff after 12 years of agitations
Management of the Bulk Oil Storage and Transportation (BOST) Company Limited has finally put smiles on the faces its staff by signing into law a collective bargaining agreement between the company and the union after 12 years of unsuccessful attempts. Staff of Bulk...
