The Volta River Authority (VRA) is to import about 200 megawatts of power from neighbouring Cote d’Ivoire to augment local production and avert power rationing, otherwise known as ‘dumsor’, following shutdown of the Jubilee FPSO on February 1, 2018 for planned maintenance.
The Jubilee Floating, Production, Storage, and Offloading (FPSO)...
Following the announcement that American multinational oil and gas company- ExxonMobil Corporation is to begin full operations in Ghana this year – 2018, it brings a lot of hope to the country’s nascent oil and gas industry.
However, following the latest accountability and transparency report index (P-TRAC) which focuses on...
Government is set to establish a refinery in Takoradi that will refine 150, 000 barrels of oil per-day, Energy Minister, Boakye Agyarko has revealed.
The “new TOR”, as the Minister terms it, will be will reduce significantly, the amount of oil the country imports to meets its demands, and to...
There is a need to establish new legislations for the downstream petroleum sector, in order to realise government’s vision of making Ghana a hub for refined petroleum products in the West African sub-region, Energy Minister, Boakye Agyarko has advised.
According to the minister, who was speaking at the 2018 Downstream...
Total petroleum receipts - the sum of earnings from liftings and other petroleum proceeds from the Jubilee and TEN oil fields - stood at US$362.58million as at September 2017, data from the Ghana National Petroleum Commission (GNPC) have shown.
The figure, which indicates an astronomical surge from the US$172.91million realised...
The state in 2017 lost some GH¢868m to shady petroleum service providers who dump products meant for export back onto the Ghanaian market.
Due to tax waivers on some petroleum products meant for export, crooked service providers find an incentive in selling such products on the local market - which...
Implementation of the Cylinder Recirculation Model, which is expected to begin this year, will create an estimated 4,500 new jobs along different levels of the supply chain.
An official statement from the Corporate Affairs Division of the National Petroleum Authority (NPA) said: “Direct job losses are estimated to be about...
Brent reaches highest in five years
Ghana averagely imports more oil that it exports
Ghana will likely hedge its oil imports under a new risk management strategy to keep fiscal consolidation on track as global crude prices recover, a finance ministry source told Reuters on Monday.
Brent crude futures hit...
The Chamber of Petroleum Consumers (COPEC) has called on government to scrap the Special Petroleum Tax (SPT) and other levies that have made the cost of petroleum products in the countryshoot up.
According to the chamber, the SPTspecifically has outlived its purpose and has now become a nuisance tax.
“We are...
Fix prepaid meters in MMDAs
Fix ECG conundrum
Rationalise gas price
With government expected to raise an additional GH¢6billion in March to clear the bulk of the GH¢10billion energy sector debt using ESLA Plc - a special purpose vehicle created for the purpose - managers of the sector want...