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Ghana government supports investment in gas-based power generation – Minister

Government is supporting investment in the gas infrastructure to ensure significant shift from oil-based power generation to gas-based power generation. In the long term, however, the plan is to invest in the nuclear power, which can be a cheaper and cleaner energy source to support the country’s commitment to combat …

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Government and Cenpower agreement to save up to $3b – Ministry

Cenpower Generation Company Limited (Cenpower) has committed to switching its primary fuel from light crude oil (LCO) to natural gas and signed a gas supply agreement (GSA) with the Ghana National Petroleum Corporation (GNPC). Gas operations are expected to begin by the end of this week. A statement issued by …

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Ghana’s Jubilee oil field reaches 300-million-barrel mark – Tullow

Ghana Limited (TGL), operator of the Jubilee and Tweneboa, Enyenra and Ntomme (TEN) fields, has announced a significant milestone of 300 million barrels of oil production from the Jubilee field. A statement issued by Tullow Ghana Limited said its partners; GNPC, Kosmos, Anadarko and Petro SA, were proud to be …

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OMC complexities impose enormous challenges – Marketing Expert  

The complexities in the oil marketing supply-chain impose enormous challenges for both operators and consumers of petroleum products, Mr David Afiawo, a Marketing Consultant, said on Saturday and called for cooperation among stakeholders. He said management of petroleum products was not the responsibility of filling station attendants, dealers, and managers …

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Exchanges over GNPC’s over GH¢5m CSR spending end PAC’s hearings abruptly

A question by Mr Samuel Nartey George, Member of Parliament for Ningo Prampram, at the Public Accounts Committee (PAC) hearing on the Ghana National Petroleum Corporation’s (GNPC) corporate social responsibility degenerated into heated exchanges and brought the hearing to an abrupt end. Mr George wanted to know why the Board …

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Petroleum funds must improve health service delivery – PIAC

The Public Interest and Accountability Committee (PIAC) has asked the Government to increase the disbursement of petroleum revenue allocated to the health sector through the Annual Budget Funding Amount (ABFA). It said the GH¢68 million allocated to the health sector in the last nine years must be spread across both …

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GOIL records growth higher than industry levels – Chairman

Mr Peter Kwamena Bartels, the Board Chairman of GOIL Company Limited, has said for the first time in several years, growth in fuel sales volume was higher than that of the Industry. “Whilst the Industry grew by 6.44 per cent, GOIL grew by 9.66 per cent. Surprisingly, the main drivers behind …

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PIAC not happy with government spreading petroleum revenue beyond 12 listed priority arears

The Public Interest and Accountability Committee (PIAC), has expressed concern about the thin-spread of petroleum revenues for projects, resulting in paltry allocations. It said the inadequate funding made it difficult to appreciate any meaningful impact associated with the expenditure. In an assessment of the management and utilisation of the Annual …

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Tullow Oil says Ghana operational performance in first six months strong

Tullow Oil PLC has said its operational performance in Ghana has been strong in the first half with uptime on both Floating Production and Storage and offloading vessels in excess of 95 per cent. Overall, the Company said it produced 77,700 barrels per day in the first half of the …

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Impact of COVID-19 on Ghana’s petroleum upstream sector

The fangs of the new Coronavirus, since its appearance in late 2019, have cut through all sectors of national economies leaving nothing unscathed.  For the global energy sector, it has resulted in a historic dive in oil prices, way below projections of many oil-based entities and budgets of national governments. …

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