Oil & Gas

GOIL Company Limited steps into the production of bitumen, a venture Mr Kwame Osei Prempeh, GOIL Managing Director, described as strategy to widen its portfolio and consolidate gains already made in the fuel business. GOIL with over 400 Filling Stations across the country’s, entry into the otherwise multinational field, is …

The 17 pesewas per litre increase in fuel price margins previously announced by the NPA has been reduced to 9 pesewas per litre effective tomorrow Wednesday May 5, 2021. This was announced after a meeting held at the Ministry of Energy earlier on Tuesday,  May 04, 2021 between the Minister …

Mr Edrorlali Adjoorlolo, a sludge dealer on Sunday appealed to the government to intervene and dialogue with oil importers from Nigeria to create more jobs for Ghanaians at the coastal areas. He said although Nigerians had for the past years imported oil to the Ghanaian coastline, there had been reports …

Some oil companies operating in Ghana owe the country surface rental payment arrears to the tune of $2.1 million in 2020, representing a 34.71 per cent increase over the 2019 arrears of $1.5 million, according to the 2020 Public Interest and Accountability Committee (PIAC) annual report issued today April 21, …

The Ghana Chamber of Bulk Oil Distributors (CBOD) has sworn into office an 11-member board to steer the affairs of the body over the next three years. The new executive board is made up of members with vast experience in finance, taxation, engineering, corporate governance, accounting, management, marketing and oil …

Ghana has recorded staggering losses to the tune of GH¢4.7 billion in petroleum revenue due to illegal activities in petroleum distribution between 2015 and 2019 alone. Taxes and levies on petroleum products are major sources of revenue for the government. As at September 2019, Ghana made GH¢3,436.30 million ($668.41 million …

Vice President Dr Mahamudu Bawumia on Wednesday launched the National Retail Outlet Fuel Monitoring System to sanitise the supply and distribution of petroleum products in the country. The system, also known as an Automatic Track Gauging and Forecourt Transaction Control System, was an initiative of the National Petroleum Authority (NPA), …

The Tema Oil Refinery (TOR) on Thursday rejected allegations from one of its clients; Woodfields Energy Resources Limited of a shortfall on its product volumes being held in the Refinery’s tanks. This was contained in a statement signed by the Corporate and Public Affairs Manager of TOR and copied to …

Woodfields Energy Resources Limited, an indigenous Petroleum company has stated it was not indebted to the Tema Oil Refinery (TOR) to a tune of $5,000,000 and has refused to make payments. A statement signed by the head of the legal department of Woodfields Energy Resources and copied to the Ghana …

Government is committed to ensuring that petroleum revenues are well managed for the benefit of all Ghanaians, President Nana Addo Dankwa Akufo-Addo has said. Speaking at the launch of the 10th anniversary celebration of the Public Interest and Accountability Committee (PIAC) in Accra on Wednesday, he said Government was determined …