The Bulk Oil Storage and Distribution Company Limited (BOST) grew its profits to GH¢161million in 2021 from a loss of GH¢291million in 2020.
The state-owned firm had made consecutive losses over the past ten years and was saddled with a more than US$624million debt as at January 2017 - which...
as group’s gross profit jumps to US$634m
Tullow Oil Plc, which operates the Tweneboa Enyenra Ntomme (TEN) and Jubilee oil fields, has announced a capital expenditure (capex) of US$270million for its Ghana operations.
This follows a jump in the group’s gross profit to US$634million from the US$403million in 2020,...
Petroleum revenue contribution to the national budget over the last 10 years has been estimated at US$2.6billion, which is out of a total of US$6.55billion in petroleum receipts (equivalent to 9.97 percent of Ghana’s 2020 GDP) earned between 2011 and 2020 by the Ghana Group from its three producing...
Although some progress has been made in promoting local content in the oil and gas industry, much more is needed to indigenise the sector, General Manager-Engineering at state-owned Ghana National Petroleum Corporation (GNPC), Victor Kofi Sunu-Attah, has said.
After 15 years since discovery of hydrocarbons in commercial volumes and more...