Saturday, July 2, 2022
Petroleum revenue contribution to the national budget over the last 10 years has been estimated at US$2.6billion, which is out of a total of US$6.55billion in petroleum receipts (equivalent to 9.97 percent of Ghana’s 2020 GDP) earned between 2011 and 2020 by the Ghana Group from its three producing...
A Regional Workshop on the validation of the ECOWAS Draft Petroleum Code opened in Accra on Wednesday morning at the Mensvic Grand Hotel. This Workshop comes on the back of ECOWAS' initiative to provide the region with a regional petroleum code. This regional Code will enable Member States to attract...
One hundred and fifty Ghanaian youth across the country have benefitted from the Accelerated Oil and Gas (AOGC) Programme at the Jubilee Technical Training Center to fill the skills gap in the country’s oil and gas industry. This cohort is made up of 127 males and 23 females. They were...
Four contractors, whose contracts were terminated by the Petroleum Commission in 2021 for non-performance, are in arrears of US$1.88million of Surface Rental payments, the latest Public Interest and Accountability Committee (PIAC) report has revealed. The four – Swiss African Oil Company Limited - SWAOCO, UB Resources, Brittania U, and Sahara...
With the inability of the Ghana National Petroleum Corporation (GNPC) to meet its budgeted revenue from loans and guarantees to government and its agencies, the Public Interest and Accountability Company (PIAC) has urged the corporation to put on hold any plans to give out any further loans until significant...
The Bank of Ghana has taken steps to address the perennial shortage of dollars for the local petroleum sector, with the introduction of a foreign exchange forward auction for Bulk Oil Distributing Companies (BDCs). According to the central bank’s guidelines, the FX Forward Auctions - which are exclusive for BDCs...
The country’s failure to adopt and implement a long-term national gas strategy - almost 12 years into commercial crude oil production - has been described as a major factor hampering the gas sector’s development, stakeholders in the oil and gas industry have said. With production estimated to be dwindling in...
Kenya’s Energy and Petroleum Regulatory Authority (EPRA) officials are in Ghana, to tap into the expertise of the petroleum downstream sector and exchange ideas on improving regulatory regimes and practices. The 12-member delegation which is led by its Director-General, Mr. Daniel Kiptoo Bargoria would visit other allied institutions in the...
The Discovery of crude oil in the Middle East changed their fortunes because of continuous demand for the commodity. Life does not exist without energy. In today’s world, fossil energy/crude oil is considered one of the most prominent energy sources with a large global market. Renewable energy is catching up....
Absa Bank Ghana has signaled its commitment to closely collaborate with leading energy companies such as Tullow Ghana, in developing the oil and gas sector. The two companies made headlines late last year when their concerted approach to deal-execution led to the delivery of Ghana’s first ever wholly-owned sea...
Translate »