The Ghana Integrity Initiative (GII) has appealed to the President, Nana Addo Dankwa Akufo-Addo, to commence immediate probe into the recent bribery allegations involving the former Chief Executive Officer of the Tema Oil Refinery (TOR) boss, Asante Berko.
According to the GII, the incident following which the former TOR boss...
US oil prices turned negative for the first time on record on Monday as North America’s oil producers run out of space to store an unprecedented oversupply of crude left by the coronavirus crisis.
The price of US crude oil collapsed by more than 105% to -$2 per barrel in...
To say this pandemic poses a threat of serious losses to the Petroleum Industry worldwide might not adequately capture the sheer numeric magnitude of the shortfall for this particular industry. We are talking about an industry where small change is spoken about in the billions, so you’d have to...
While oil contribution to government revenue is expected to drop by nearly US$600million, the sector's total contribution to Gross Domestic Product (GDP) is set to drop by US$2.5billion this year, according to Alex Mould, a former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) and National Petroleum...
Zambia has become the latest African country looking for help to tackle its hefty debt burden this week as international lenders and analysts are warning the pandemic crisis could push many of the continent’s economies into debt distress.
Below are four charts to show some economic and fiscal pressures faced...
Ten years after Ghana discovered oil and started commercial production three years later, government says it plans to increase production volumes by moving to award new exploration contracts to IOCs.
How well have we fared in those 10 years and what are the emerging issues to look at, going forward?...
Nigerian energy firm Forte Oil said it plans to sell its upstream services and power businesses in Nigeria and divest from Ghana to focus on its core fuel distribution operation at home.
The move comes as a surprise about-turn for a company whose Chief Executive Akin Akinfemiwa told investors in...
GOIL Board Chairman Kwamina Bartels has given the strongest indication yet that the state oil player is ready to be a major player in the upstream oil industry.
Mr. Bartels made this disclosure when he addressed the 49th AGM of the Ghana Oil Company Limited (GOIL) in Accra. This development...
Ghana Oil Company Limited (GOIL) has expressed interest in moving upstream to become a major player in the exploration and production business.
Its Board Chairman, Kwamena Bartels, told shareholders at their 49th Annual General Meeting that the company intends to partner an international player with proven technical competence to operate...
A team of officers from the National Petroleum Authority (NPA) is in the Central Region visiting selected communities as part of a nationwide door-to-door LPG safety campaign.
The team, from the Corporate Affairs Division, visited several eateries in the Mankessim, Komenda and Cape Coast areas, where vendors were educated on...