US oil prices turned negative for the first time on record on Monday as North America’s oil producers run out of space to store an unprecedented oversupply of crude left by the coronavirus crisis. The price of US crude oil collapsed by more than 105% to -$2 per barrel in...
The cost of a 50 percent waiver for electricity consumers for three months due to the impact of COVID-19 will cost the Electricity Company of Ghana some GH¢732million, the Minister of Energy, John Peter Amewu, has revealed. Apart from the ECG, the Volta River Authority (VRA) and Northern Electricity Distribution...
Chief Executive of the Ghana Grid Company, Jonathan Amoako-Baah, says a collective global approach to tackling the coronavirus pandemic is what will help the world win the fight. COVID-19 cases continue to escalate across the world and Africa, while the death toll shows no sign of easing any time soon....
Consumers can expect fuel prices to drop to as low as GH¢3.5 per litre if international oil prices remain in the US$20-US$25/bbl range, and GH¢4 per litre if prices rise to the US$30 - US$35 range, a former Chief Executive Officer of the country’s petroleum downstream regulator has projected. Alex...
Embattled Tema Oil Refinery Managing Director, Asante Berko, has today presented his resignation letter to the President, Nana Addo Dankwa Akufo-Addo, with the President accepting the resignation. A statement from the Presidency said: "The President of the Republic, Nana Addo Dankwa Akufo-Addo, has, on Wednesday, April 15, 2020, received the...
The Public Utilities Regulatory Commission (PURC) has maintained utility tariffs for the second quarter of 2020, contrary to pressures from civil society groups for a reduction. According to the Commission, the decision is in the best interests of the public as it will ensure financial viability and sustainability for the...
Gov’t set to absorb GH¢1bn monthly IPPs owed US$1.5bn Experts describe move as ‘poorly thought' Government’s decision to take up 50 percent of electricity bills for residential, commercial and industrial users and free electricity for the poor for the next three months, according to energy and power experts,...
As part of measures to support businesses and households during the Coronavirus pandemic, President Akufo-Addo has announced that government will absorb three months free electricity bills for the poor, and 50 percent for industries and other households. The relief package which covers bills for April, May, and June, follows an...
Total Petroleum Ghana Limited has presented Veronica buckets and other sanitation equipment to driver unions in three regions, as part of efforts to stop the spread of the Coronavirus (COVID-19) in the country. The oil marketing company made the gesture at the Sankpala taxi rank in Tamale, Northern Region and other...
Investors or holders of the ESLA bond have received a total of GH¢500million as the first tranche of interest payments. A statement from ESLA Plc., the Special Purpose Vehicle (SPV) created to manage the bond, said an estimated GH¢228million has been paid as first gross interest payments to investors who...

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