The Public Interest and Accountability Committee (PIAC) has launched the inaugural Citizens’ Version of its statutory report on the management and utilisation of oil revenues of the country, toward bolstering transparency and empowering the public. This latest release offers a comprehensive overview of petroleum revenues’ utilisation throughout the year 2022. The Citizens’ Version, according...
By Joshua Worlasi AMLANU ([email protected]) The Petroleum Holding Fund (PHF) recorded a total inflow of US$1.06 billion in 2023 despite economic headwinds. This figure represents a slight decrease of US$0.37 billion from 2022's US$1.43 billion, according to the Bank of Ghana’s latest report. H1 2023, ended with crude oil prices dropping...
To get an assessment on the oil and gas industry from the industry itself, and what the prospects are for the year 2024, the B&FT has been speaking to the Chief Executive of the Ghana Upstream Petroleum Chamber, David Ampofo.  Q: What is the outlook for the industry this year? A:...
…the facts SML discussions ignore Until mid-December last year, Strategic Mobilisation Ghana Limited (SML) was like any ordinary business in the country - judiciously deploying its skills and talents in the concerted effort of nation building. Except for a few publications, mostly on its numerous corporate social responsibility (CSR) activities, the...
The country is expected to fork out approximately US$83.4million by March 31, 2024 as its initial subscription capital to the recently proposed Africa Energy Bank (AEB), which it is seeking to host. However, with the tight fiscal space that the country currently finds itself in, government has asked the Ghana...
Government has completed the divestiture of Jubilee Oil Holdings Limited (JOHL) shares, an offshore entity, to GNPC Explorco - a subsidiary of the Ghana National Petroleum Corporation (GNPC). Parliament’s Committee on Mines and Energy revealed this in its report in the third session of the 8th Parliament. The transfer of...
The Gold for Oil (G4O) program emerged in response to the 1973 oil crisis, triggered by an oil embargo imposed by OPEC members, particularly Saudi Arabia, on nations perceived as supporting Israel in the Yom Kippur War (Birjandi, 2003). This crisis caused a global energy shortage and a surge...
With the country expecting its fourth consecutive decline in oil production since 2010 - as a result of reduced production in all three existing oil fields, industry experts are raising concerns about the impact on Ghana National Petroleum Corporation’s (GNPC) financial stability. They warned that a dent in the national...
Following the successful staging of the maiden Western Regional Oil and Gas Excellence Awards ceremony last year, the 2nd Western Regional Oil and Gas Excellence Awards Dinner is due to be held in Takoradi on Friday, December 15, 2023. The Western Regional Minister, Mr. Kwabena Okyere Darko-Mensah, will grace the...
The Petroleum Commission in partnership with Tullow Ghana Limited, has transformed the Sargassum seaweed into raw material, used in the fishing communities. The Sargassum seaweed, (a leafy rootless and buoyant algae that bunch up around ocean) hitherto, was a public nuisance that came along some coastal beaches in the country...