Oil & Gas

Mr Ken Ofori-Atta, the Minister of Finance has said the overall crude oil production from Ghana is expected to more than double over the next four years. “Overall, crude oil production is expected to increase from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023,” he …

The future of Ghana’s oil and gas sector as a catalyst to push socio-economic development looks brighter, though the nation lacks pricing policy for her crude. A pricing policy for crude, according to the Ghana Oil and Gas Inclusive Growth (GOGIG), an UKaid project set up to support the nation …

The Public Interest Accountability Committee (PIAC) Secretariat has requested from the Ministry of Finance and Economic Planning (MoFEP) to provide it with information on all physical infrastructural projects it intends to fund with petroleum revenue in the country this year. This according to the PIAC, an independent statutory body mandated …

Mr Isaac Osei, the Managing Director (MD) of Tema Oil Refinery (TOR), has given the assurance that the national oil refinery would be in full operation by the end of September, this year. He said the refinery now had the capacity to process 45,000 barrels of crude oil per extreme …

A total of $799 million worth of contracts in the upstream petroleum industry was awarded to indigenous Ghanaian companies and joint ventures last year in accordance with the Local Content and Local Participation law. Out of the amount, $453 million worth of contracts was awarded to Ghanaian firms whilst $346 …

The Ghana National Petroleum Corporation (GNPC) has presented a cheque for $ 250,000 to the University of Ghana for the establishment of a Research Chair in Petroleum Geoscience at the Department of Earth Science. The presentation of the cheque was part of terms of a Memorandum of Understanding signed between …

Tanker drivers at the Bulk Oil and Storage Transportation (BOST) depot in Tema have appealed for better working conditions. Speaking to the Ghana News Agency, Mr Akwasi Prempeh, a driver at the BOST depot in Tema said, the drivers work under unacceptable conditions. He explained that, most of the drivers …

MODEC Production Services Ghana JV Limited (MPSG), a Japanese firm, has launched an international oil and gas training programme for 16 Ghanaian nationals. The beneficiaries are expected to undertake the training in Brazil in three batches beginning from February 2019 to get hands-on training in Floating Production Storage and Offloading …

Power generation and distribution in Ghana are a well-known reality – Ghanaians for many years have had to endure power rationing because at some point, there wasn’t enough power to go round. The situation effectively led to Ghanaians becoming accustomed to the word ‘dumsor’, meaning switch off and on. While …

Aker Energy, operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, has announced that it would soon complete the successful drilling operation of the Pecan-4A appraisal well offshore Ghana. The main purpose of the Pecan-4A appraisal Well was to confirm Aker Energy’s understanding of the geology in the area …