Energy Minister Matthew Opoku Prempeh has revealed that the introduction and subsequent increment of the Bulk Oil Storage and Transportation Company (BOST) margin from 6 pesewas to 9 pesewas increased the company’s revenue by about 80 percent in 2021. BOST margin revenue increased from GH¢212million to GH¢380million in 2021. Although...
The Public Interest and Accountability Committee (PIAC) has expressed concern over an amount of US$843million owed Ghana National Gas Company (GNGC) by power utilities, lamenting that the situation denies the Ghana Petroleum Funds of much needed money for investment and development. GNGC, the nation’s premier mid-stream gas business company, processes...
As a result of the stringent measures instituted, the retail outlet failure rate has reduced drastically from 32% as at 2013 to 2.51% as at August, 2021,the Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid has said. Among the key strategies adopted are the revision of operating...
The Ghana Chamber of Bulk Oil Distributors (CBOD) has said it is not in any way opposed to government’s gold for oil programme. Its Chief Executive Officer, Dr. Patrick Ofori, explained that the Chamber is also not against involvement of the Bulk Oil Storage and Transportation Company (BOST) in managing...
Government is set to establish a refinery in Takoradi that will refine 150, 000 barrels of oil per-day, Energy Minister, Boakye Agyarko has revealed. The “new TOR”, as the Minister terms it, will be will reduce significantly, the amount of oil the country imports to meets its demands, and to...
The Chief Executive of Tullow, Paul Mcdade has said that Tullow delivered strong operational and financial performance in 2017 against the backdrop of continued industry volatility. According to him, the business is expected to generate free cash flow of $0.5 billion, above expectations, due to high levels of operated production...
Stakeholders in the mining sector have called for broader stakeholder consultation on the Agyapa Royalties Agreement to ensure that the country is not shortchanged. To them, the suspension of the Agyapa Royalty deal until proper measures are taken to ensure citizens benefit is good for the nation and the citizenry. Executive...
The Bank of Ghana has commended GOIL Company Limited for taking the initiative as the first Oil Marketing Company to enter into the electronic payment system through the “GOIL/gh-link Card usage at all GOIL Filling Stations. Mr Setor Amekudzi, Head of BoG Payment Systems who gave the commendation said digitization...
Tullow Oil plc (Tullow) has appointed Rahul Dhir as Chief Executive Officer and an Executive Director of the Group. His appointment will take effect July 1, 2020, the company said in a statement. The statement added that Dorothy Thompson, currently Executive Chair of Tullow, will return to her position as...
Prices of fuel on the domestic market will remain largely stable within April first pricing-window, the Institute of Energy Security (IES), has said. The stability, IES explains, is due to factors including 2.05 percent decrease in price of the International Benchmark- Brent crude, 2.84 percent decrease in price of gasoil,...