The National Petroleum Authority (NPA), has expressed displeasure at some groups’ decision to demonstrate against recent increases in prices of petroleum products at the pump by some oil marketing companies. Following reports of the Chamber of Petroleum Consumers (COPEC) and Industrial and Commercial Workers Union (ICU)’s intended demonstration this week,...
The world’s largest oil companies are set for a cash flow bonanza this year, probably at record levels, as massive cost cuts in the wake of the 2020 oil price and oil demand collapse have significantly lowered the corporate cash flow breakeven for many firms. After posting record losses in...
Last week BloombergNEF (BNEF) published a new report that quantifies the impact of the COVID-19 pandemic on U.S. carbon dioxide emissions. The report estimates that 2020 emissions will be 9.2 percent lower than in 2019, reaching a level last seen in 1983. At that time, BNEF notes, the economy was 60percent smaller...
Otumfuo Osei Tutu II, has reminded the governing board of the Ghana National Petroleum Corporation (GNPC) about the pivotal role the corporation plays in the economic development of Ghana. According to him, GNPC is one of Ghana’s crucial pillars which plays a pivotal role in the development of Ghana. Otumfuo Osei...
Investment policy guidelines missing Investment Advisory Committee absent BoG tightlipped over ‘ poor’ investment returns In deciding  which models to adopt in managing its petroleum industry, Ghana hurried to Norway, a country hailed across the globe for its efficient management of the sector, for tutorials. But at   a time  when...
Oil marketing companies must work toward a more sustainable and environmentally friendly business model, one that will not only help the environment but the industry as a whole, CEO of African Energy Consortium Kwame Jantuah has said. To do so, he argues, a balance must be struck between development and...
The National Petroleum Authority (NPA) is in collaboration with the country’s security agencies to map out plans to clamp down on fuel smuggling activities on the borders along the Upper East Region. As a result, some staff and personnel of these security services have been positioned at the smuggling hot...
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...
Tullow has affirmed its commitment to Ghana’s socio-economic growth through its operations in the country. The UK-based multinational oil and gas company, currently operates the two main oil fields in Ghana - Jubilee and TEN. Together with its partners, Kosmos Energy, Ghana National Petroleum Company (GNPC), Petro SA and Jubilee Oil...
The Ghana Upstream Petroleum Chamber held its annual oil and gas conference and launched the 2023 upstream industry report - a comprehensive up to date documentation on the state of the upstream industry. B&FT spoke to the CEO of the chamber, David Ampofo on some of the key industry...