Saturday, October 1, 2022
The Chief Executive of the Petroleum Commission, Mr Egbert Faibille Jnr, has warned companies engaged in transfer pricing to stop the practice immediately or face the wrath of the Commission, as such practice impacts the economy negatively. He confirmed that the Commission is fully aware that most foreign companies in...
Ghana, one of Africa’s democratic standard bearers, is a relative newcomer to the oil sector. Having surpassed oil development’s teething problems, it has remained highly committed not to scaring foreign investors away and keep existing covenants intact. While the nation’s energy outlook is improving, significant challenges remain. This year saw...
The maximum storage capacity a Liquified Petroleum Gas (LPG) station can have is 20 tonnes, the National Petroleum Authority has directed following the tough stance taken by Cabinet to forestall the deadly gas explosions the nation is becoming ill-reputed for. Appearing before parliament’s Mines and Energy Committee, CEO of the...
Tullow Oil Plc raised its production guidance on Wednesday, aided by higher output from its TEN and Jubilee fields in Ghana. The company now expects full-year West Africa net oil production, including production-equivalent insurance payments, to come in at 85,000-89,000 barrels of oil per day (bopd) compared with its prior...
A total of 1,000 Ghanaians will receive training annually as part of the newly launched Accelerated Oil and Gas Capacity Programme (AOGC), President Nana Akufo-Addo, has said. Two hundred Small and Medium Scale Enterprises (SMEs) will also be provided with the capacity to gain a competitive advantage in the industry...
Cocobod has initiated reforms to clear its debts of up to 19.6 billion cedis (US$4.45bn) which resulting from bloated contracts and wasteful expenditure by previous managers, the chief executive said last week Wednesday. Joseph Boahen Aidoo said, on taking up his post in February, that his administration had discovered US$400million...
Tullow Ghana Limited (TGL) has received assurance from Defence Minister Dominic Ntiwul that work is underway to upgrade equipment needed by the Ghana Navy to improve the security of offshore oil installations and oil and gas fields located off-coast the Western Region. Mr. Ntiwul gave the assurance on Tuesday when...
The National Petroleum Authority (NPA) has officially launched its National Petroleum Safety Campaign to raise awareness on adherence to safety protocols in the petroleum downstream sector, under the theme ‘People Safety First’. Speaking at the launch, Chief Executive of the NPA Alhassan Tampuli said since April this year, the authority...
The National Petroleum Authority (NPA) is urging its Nigerian counterpart to reduce the sulphur content in its diesel fuel to about 50parts per million (ppm). Nigeria is currently doing 3,000ppm of sulphur content, which is considered to be toxic fuel. Mr. Tampuli who was speaking in Nigeria, Lagos during the Oil...
Mr. Jai Mirchandani, Chief Executive Officer of Avnash Industries Ghana Limited - the country’s most formidable agro-industrial processing company, has said it is ready to invest over US$100million into government’s One District, One Factory (1D, 1F) policy to ensure its success. “We are investing over US$100million from next year. I...
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