If the country is to use its petroleum resources to achieve economic growth and transformation, there must be a long-term national development plan, the Public Interest and Accountability Committee (PIAC) - a state watchdog on oil revenue management and utilisation - has advocated.
The Committee said the current practice whereby...
The Association of Oil Marketing Companies (AOMC) has commended Vice President, Dr. Mahamudu Bawumia on his address at the Launch of the National Retail Outlet Fuel Monitoring System which assured players in the Petroleum Downstream Industry of government’s commitment to create the enabling environment for our businesses to thrive.
According...
Chief Executive Officer of Ghana Cocoa Board (Cocobod), Joseph Boahen Aidoo, has assured lenders that the company is on course to meet its financial obligations in respect of the US$1.3billion syndicated loan, in spite of a dwindling crop harvest caused by dry weather and plant disease.
“We have shown over the...
-despite 5.98% decline in production
The country earned an amount of US$1.42billion as oil revenue for 2022, the highest since commercial production began in 2011, despite a 5.98 percent drop in production during the year under review.
The amount, which was contained in the 2022 Annual Report of the Public Interest...
A constitutional and petroleum law expert, Prof. Raymond Atuguba, has questioned the constitutionality of the Petroleum Exploration and Production Act, 2016 (Act 919) which gave rise to the multi-billion-dollar contract recently signed between government and Exxonmobil.
According to Prof. Atuguba, the 1992 constitution vests the management of the petroleum resources...
The Ghana Cocoa Board (Cocobod) is seeking to raise an about-US$750million facility from a consortium of banks to help finance a massive cocoa rehabilitation programme, aimed at replacing more than half of the country’s overaged tree stock.
The US$750million loan facility will be raised from local and foreign banks, is...
Tullow Oil has announced that gross crude production on the Jubilee field has surpassed 100,000 barrels per day for 2023.
This was captured in an operational update to investors on July 17, 2023.According to Tullow Oil, this was after the recent start-up Jubilee South East (JSE) project well was brought...
ExxonMobil has abandoned the country’s upstream hydrocarbon industry, a move the Institute for Energy Security (IES) says is strategic and will help it concentrate on quality assets in other jurisdictions.
Consistent with ExxonMobil’s global position, IES said the oil major might have decided against pursuing its Ghana business because the...
Oil marketing company, Engen Ghana Limited (EGL) has launched its 25 anniversary celebration of dynamism, resilience and sustainable growth at the Labadi Beach hotel.
EGL is a 100% subsidiary of Mocoh Ghana Limited focusing on the downstream refined petroleum products, markets and related businesses. The Mocoh Group, headquartered in Geneva,...
The Ghana Oil and Gas Service Providers Association (GOGSPA) has dragged Tullow Ghana Limited before the Accra High Court, Commercial Division, over alleged violation of local content laws.
The plaintiff is praying the court to halt the defendant from re-awarding any petroleum contract being executed by indigenous companies to foreign...
