The Public Interest and Accountability Committee (PIAC) has warned against the use of oil revenue as collateral for government borrowing, arguing that the practice could prevent the country from making the most of its hydrocarbon resources. The warning comes after an analysis by PIAC showed that between 2014 and 2019,...
Ghana’s domestic card, the gh-link card has received a major boost as Shell has begun deploying Point of Sale (POS) devices that accept the domestic cards, at their fuel filling stations. Shell is the second oil marketing company to accept gh-link cards after GOIL. The deployment is being enabled...
The Ghana Upstream Petroleum Chamber has called on the Secretary to the Economic Management Team, Prof. Joe Amoako-Tuffour, in the Vice President’s office at Jubilee House. The team was led by Mr. Joe Mensah, Senior Vice President & Head of Kosmos Energy Ghana; Chairman of the Council of the Chamber,...
Angola, Africa’s second-largest oil producer after Nigeria, will need foreign and government investments to discover up to 57 billion barrels of crude oil by 2025, according to a new energy strategy reported by state news agency ANGOP. Angola’s plan includes foreign investment of US$679 million as well as US$188 million investment by...
… provides additional income at almost no cost Finance Minister Ken Ofori-Atta has said that the country has been transparent and forward-thinking in the setting up of the Agyapa Royalties deal which would be Africa’s first Gold Royalty Company which would ensure that the country does not only benefit from mining operation...
The Public Interest and Accountability Committee (PIAC) wants the country to move from investing petroleum funds in only low-risk Instruments to a mixture of both high and low. This, along with diversifying place of investment - mostly the USA market, PIAC's Technical Manager Mark Agyeman argues, will offer maximum returns...
The far-reaching implications of finding commercially viable quantities of oil and gas in deepwater drilling off Ghana was one of several topical issues explored by Kevin Okyere, CEO-Springfield Group, in an in-depth interview he gave recently to Oxford Business Group’s online broadcasting channel, Global Platform. Okyere told OBG that Springfield’s...
To ensure that the country’s hydrocarbon resources are used to deliver prosperity, there must be good governance as well as implementation of petroleum laws to the letter, the Public Interest and Accountability Committee (PIAC) has said. Ghana began commercial production of oil in December 2010; but 10 years down the...
The Chief Executive Officer of the National Petroleum Authority, Alhassan Tampuli, has said all challenges identified in the piloting of the Cylinder Recirculation Model (CRM) will be addressed before full implementation. “In recent times, we have had calls by some industry players to halt the implementation of the CRM pilot...
Hiroshima after the US military dropped the atomic bomb on 6 August 1945. Peace Memorial Museum This year marks the 75th anniversary of the bombing of Hiroshima and Nagasaki by the US in 1945, the only time in history that nuclear bombs have been used. The atomic bombs killed tens of...
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