The oil market appeared to have weathered the storm of the 2015 price collapse and had responded with considerable accomplishments. By November 2017, domestic crude oil production had recorded its highest level in U.S. history. International trade in crude oil and petroleum products was booming with exports of 6.6...
The concept of the ‘petrodollar’ or ‘dollar oil’ refers to the agreement made in the 1970s between the United States and Saudi Arabia, which has had a significant impact on the global economy.
In 1971, President Richard Nixon ended the convertibility of the US dollar to gold, which had been...
Blue Ocean Investment Limited, a leading bulk distribution specialist of petroleum products, has received three ISO certifications - ISO 9001:2015 (Quality Management Systems), 1SO 14001:2015 (Environmental Management Systems), and ISO 45001:2018 (Occupational Health and Safety Management Systems) - making it the first bulk distribution company to be certified in...
says facility will cushion energy security, offer cheaper gas
projects demand to outstrip current supply
The Ghana National Petroleum Corporation (GNPC) has said the new regasification plant being constructed at the Tema Liquefied Natural Gas (LNG) Terminal will safeguard the country’s future energy needs and usher in an era...
In spite of the vast opportunities available in the upstream oil and gas sector, local participation is very low due to high barriers of entry, a report by Ernst & Young (EY), Ghana, indicates.
The report shows that local participation in areas like well drilling, engineering services, exploration and subsurface,...
The Public Interest and Accountability Committee (PIAC) has warned against the use of oil revenue as collateral for government borrowing, arguing that the practice could prevent the country from making the most of its hydrocarbon resources.
The warning comes after an analysis by PIAC showed that between 2014 and 2019,...
The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, has said it has come to the Authority’s attention that there are a lot of illicit fuel trade activities happening on the Aflao border.
He stated that the NPA has not licenced any importer to bring fuel through...
A 1,000-day period without Lost Time Injury (LTI) in the petroleum industry is impossible, critics will say - but Tema Tank Farm Limited (TTF), a subsidiary of Chase Logistics Group Limited, has proven critics wrong by achieving the milestone of 1,000 days without LTI in its operations.
This significant achievement...
In this question and answer session, Alex Mould, a former Chief Executive Officer of the Ghana National Petroleum Corporation and the Ghana National Petroleum Authority, explains the impact of the novel Coronavirus on Ghana's economy, why consumers will enjoy cheaper fuel and how the country could make the most...
The newly incorporated Association of Indigenous Oil Marketing Companies of Ghana (AIOMCG), has revealed that it continues to receive more membership interest, from Ghanaian owned Oil Marketing Companies (OMCs).
According to the coordinators of AIOMCG, they have reached out to over 30 indigenous OMCs and more than 15 of them...