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 National Petroleum Authority (NPA) has taken measures to ensure uninterrupted importation and supply of petroleum products in the country.
The measures put in place by the NPA had saved the country from experiencing fuel shortages as experienced in other countries, including Nigeria, Kenya, and Zambia.
Speaking at a media engagement...
Oil slumped on Monday, extending last week's losses, as new coronavirus infections hit China, Japan and the United States' increasing concerns that a resurgence of the virus could weigh on the recovery of fuel demand.
Brent crude futures fell $1.32, or 3.4percent, to US$37.41 a barrel by 0716 GMT, while...
The Group Chief Executive Officer and Managing Director of GOIL, Mr. Kwame Osei Prempeh has paid a working visit to the BOST Terminal at Buipe in the Savannah Region.
The visit was to acquaint him with operations of the terminal facility.
The depot has a total storage capacity 50,000 cubic meters...
The discovery, named Calao, stands as the second largest in the country, following the Baleine field discovered by Eni in September 2021
Abidjan (Côte d’Ivoire), 7 March 2024 - The President of the Republic of Côte d’Ivoire Alassane Ouattara and the Chief Executive Officer of Eni Claudio Descalzi met in...
ZEN Petroleum has participated in the 2021 edition of the Forecourttech Conference in Alicante, Spain, being the only Oil Marketing Company (OMC) operating in Ghana to have taken part in the conference. ZEN’s participation is a crucial step towards bolstering the international standards that have defined its operations and...
Only 10 percent of companies operating along the entire upstream oil and gas value chain are insured locally with the largest chunk getting insured internationally due to the lack of capacity by local insurer, Chief Executive Officer of Glico Group of Companies, Edward Forkuo Kyei, has said.
According to him,...
The Ghana Upstream Petroleum Chamber has expressed concern about the impact on foreign investment in Ghana as a result of the ongoing dispute between ENI and its partner VITOL on the one hand and Springfield on the other.
Speaking in an interview with the B&FT, the Chief Executive of the...
Dr Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measures it has implemented to ensure stability across Ghana’s downstream sector, following the global oil and gas market volatility caused by the Russian-Ukraine war and energy transition-related policies.
Speaking during a presentation at Africa Refiners and...
Giving the amount of recent activity in Ghana’s upstream oil and gas industry, BFT spoke to David Ampofo, CEO of the Ghana Upstream Petroleum Chamber to hear his views on developments.
Question:
How is the oil and gas industry doing at the moment?
Answer:
Industry is bouncing back gradually. COVID 19 continues to...