The cedi faced renewed downward pressure last week, attributed to heightened corporate demand for foreign currency - particularly crude oil imports.
The local currency depreciated by 1.48 percent against the US dollar, closing the week at a bid/offer rate of 15.75/16 on the retail market. It also fell by 2.80...
By: Kingsley Nana Buadu
Two paramount Chiefs in the Central Region where Lithium deposit is found in larger quantities have expressed worry over what they described as the delay in the approval of the lithium and bauxite mining agreement in parliament.
According to them, the found mineral in the area is a major...
…deny opposition to CRM
By Wisdom JONNY-NUEKPE
The LPG Marketing Companies Association of Ghana has cautioned the National Petroleum Authority (NPA) not to compromise the association’s investment of over US$400million in the industry.
Responding to a speech by NPA CEO Dr. Mustapha Hamid, at the recently held Ghana International Petroleum Conference in...
The recent ruling by an international tribunal in a case brought against Ghana by ENI and Vitol is big news for all industry watchers in the upstream petroleum sector.
We spoke to the CEO of the Ghana Upstream Petroleum Chamber, David Ampofo on the implications of the ruling.
Q: What exactly...
The National Petroleum Authority (NPA) has signed an agreement with Senegal and Gambia for the importation of petroleum products from Ghana.
This adds to the already existing countries; Mali, Niger, Burkina Faso, Cote D' Ivoire and Togo importing petroleum products from the country.
In the year 2023, the volume of Petroleum...
By Kizito CUDOE
The domestic downstream petroleum industry amassed a monetary value exceeding GHȼ71billion in 2023, contributing approximately 8.4 percent to the country’s Gross Domestic roduct (GDP) according to Dr. Mustapha Abdul-Hamid, Chief Executive Officer-National Petroleum Authority (NPA).
With over 3,000 service providers, the sector predominantly features high local participation...
The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid has urged LPG marketing companies to re-asses their opposition to the cylinder recirculation model (CRM) and embrace the policy.
He said CRM was being implemented in all the countries in the West African sub region, including Cote d'Ivoire,...
By Kizito CUDJOE
The Minister of State-designate for the Ministry of Energy, Herbert Krapa, has announced that the ministry will collaborate with the Attorney-General to review the recent oilfield unitisation case and determine a subsequent course of action.
Krapa emphasised during his vetting by the Appointments Committee of parliament that the...
GOIL Super Synthetic 5W/30 has been recognized as “Premium Synthetic Engine Oil - Brand of the Year 2023” at the 2024 Global Business Brands Summit and Awards held in Accra.
The product was commended for its optimal performance, durability and premium quality.
Receiving the award on behalf of GOIL were the...
Eni Ghana Exploration and Production and Vitol Upstream Ghana have received a positive decision from an international arbitral tribunal regarding their unitisation dispute with the Republic of Ghana, ruling in favour of their long-standing opposition to the Ministry of Energy’s unitisation directives.
The international arbitral tribunal has concluded that the...