With the inability of the Ghana National Petroleum Corporation (GNPC) to meet its budgeted revenue from loans and guarantees to government and its agencies, the Public Interest and Accountability Company (PIAC) has urged the corporation to put on hold any plans to give out any further loans until significant...
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...
The National Petroleum Authority (NPA) has revoked the licenses of 30 Oil Marketing Companies (OMCs) for non-compliance with the rules and regulations of the Authority on the acquisition and maintenance of the licenses.
The affected companies are Abagurugu Oil Company Limited; Apex Petroleum Ghana Limited; Avos Oil Company Limited; Best...
According to the Public Interest and Accountability Committee (PIAC) 2022 Annual Report (p. 25), oil production from the Jubilee Field witnessed an increase in production from 27,335,481 barrels at year's end in 2021 to 30,523,813 barrels at year's end in 2022. The report attributes the increase in production to...
The Bulk Oil Storage and Transportation Company Limited (BOST) recorded a net profit of GH¢342.5million in 2022.
The figure represents an increase of 112 percent over the 2021 earnings of GH¢160.7million, and is the second consecutive year that the state-owned company has returned profit.
Consequently, its operating income also increased -...
… despite rise in volumes traded
The nation’s bourse, the Ghana Stock Exchange (GSE), witnessed a bearish run in the equity and bond markets for August that eroded gains recorded on the market in July, the GSE monthly report has revealed.
The development, which is sure to a leave a section...
Ghana is set to commence payment of the new US$400 cocoa Living Income Differential tariff in October when the 2020/2021 crop season begins.
The LID tariff agreed in 2019 between the governments of Ghana and Ivory Coast and international cocoa traders and manufacturers is a measure hoped to help alleviate...
Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used is an economy to produce a given level of output. Usually, increase in productivity in very...
Joseph Boahen Aidoo, Chief Executive Officer of Ghana Cocoa Board (COCOBOD), says management has resolved to reduce the huge debt burden. The huge chunk of debt accumulation - approximately GH¢12.30billion as of September 2020 - emanates from short-term cocoa loans of about GH¢8.49billion, accounting for 69.02 percent of total...