Friday, May 7, 2021
Constrained global financial conditions caused by COVID-19 have led to massive portfolio outflows from Africa, exceeding US$5 billion in the first quarter of 2020, a new continent-wide survey on trade finance has shown. About US$3.1 billion left the South African market alone, the report found. Launched on 15 April 2021,...
The Association of Oil Marketing Companies (AOMC) has commended Vice President, Dr. Mahamudu Bawumia on his address at the Launch of the National Retail Outlet Fuel Monitoring System which assured players in the Petroleum Downstream Industry of government’s commitment to create the enabling environment for our businesses to thrive. According...
ZEN Petroleum has announced the opening of its new Kojo Thompson Road Station, in an expansion of its retail presence in Accra. The opening of the new service station marks a major milestone for the company which has seen consistent growth in the petroleum downstream sector, while maintaining its position...
Total petroleum revenues accrued to the Petroleum Holding Fund (PHF) from Royalties, Carried and Participating Interest (CAPI), Corporate Income Taxes (CIT), Surface Rentals and income earned declined to US$638million in 2020 from US$925million in 2019. The decline, according to the 2020 Annual Report of the Public Interest and Accountability Committee...
Shell has had operations in West Africa for more than 80 years, playing a vital role in delivering cleaner, affordable energy to the region. As part of the company's Powering Progress strategy, it has set ambitious goals that lay out how it believe Shell can and must play a role...
The amount of gasoline consumption has increased significantly the world over with the United States’ Energy Information Administration (EIA) projecting that global liquid fuel consumption could reach an average of 100.3 million barrels per day (b/d) in the first quarter of 2020. Although this would translate into increased revenue mobilisation...
Engen Ghana Limited (EGL) then an affiliate of Engen Petroleum Limited (EPL), South Africa) has now been acquired by Mocoh Ghana. Mocoh Ghana completed this transactions with Engen Holdings (Pty) Limited to acquire 100% of the shares of Engen Ghana. Mocoh Ghana is an affiliate of Restorn Energy, a...
 – LPG Association to gov’t Liquefied Petroleum Gas Marketing Companies are appealing that government should reconsider the decision to introduce 18 pesewas tax on every kilogramme of gas bought by a consumer. It believes such action will derail efforts aimed at boosting the LPG gas penetration from 25% to 50%. Gabriel...
There is a lot of money in chocolate but the producers of the raw material see very little of it. Last year the retail industry was worth $107bn (£78bn), according to one projection, but Ghana - the world's second largest cocoa producer - earned just around $2bn. This is a familiar...
The Institute for Energy Security (IES) is predicting that the price of diesel at the pumps will reduce while petrol will remain unchanged for the second pricing window in April, 2021. According to the institute, the prediction is based on a 2.40% decrease in price of the International Benchmark- Brent...
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