Oil & Gas

The Public Interest and Accountability Committee (PIAC) has called on the government to review and reduce the planned 2020 Annual Budget Funding Amount (ABFA) expenditure and apply the savings to the COVID-19 Alleviation Programme. The Committee has recommended to the government to explore other domestic revenue sources such as cocoa …

The National Petroleum Authority (NPA) has said the introduction of the GH¢13.5 Cylinder Recovery Margin, which took effect on April 1, 2020, will not increase the product price of Liquefied Petroleum Gas at the pumps as being speculated by the Oil Marketing Companies. “We wish to state categorically that, contrary …

Three Civil Society Organisations in the extractive sector have called on the government to seek alternative financial sources to deal with the COVID 19 pandemic instead of taking monies from the Heritage fund. “We are deeply worried about some radical proposals which, if carried through, would have serious implications on …

LPG Marketing Companies Association of Ghana has called for the immediate withdrawal of the new Cylinder Recovery Levy introduced by the National Petroleum Authority (NPA). The NPA on April 2 introduced the Cylinder Recovery Levy by charging 13.5 pesewas on each kilogramme of LPG. NPA in a statement said the …

The National Petroleum Authority (NPA) on Thursday said the newly introduced levy or Cylinder Recovery Margin is to support stakeholders in the supply chain ahead of the implementation of the cylinder Recirculation Model (CRM). A statement signed by Mr Anny Osabutey, a Public Relations officer at NPA and copied to …

Aker Energy and license partners have taken the decision to postpone the development of the Pecan field in the Deepwater Tano Cape Three Points block offshore Ghana due to global disruptions caused by the Covid-19 pandemic. Aker Energy and its partners, Lukoil, GNPC and Fuel Trade had an aggressive plan …

The Ghana Standards Authority (GSA) and the Petroleum Commission (PC) have agreed to collaborate to standardise oil measurement in the country. The decision was arrived at during a meeting between Professor Alex Dodoo, Director-General of the GSA and Egbert Fabaille Jnr, the Acting Chief Executive Officer (CEO) of the Petroleum …

Tullow Ghana Plc has joined the list of oil companies making wrongful lodgments of oil revenues due the government of Ghana. The 2019 Semi-annual Report of the Public Interest and Accountability Committee (PIAC) cited Tullow of having made a lodgment of $75 million into the account of the Ghana Revenue Authority (GRA) …

CUTS Ghana, a research and advocacy policy think tank, has expressed dismay at the Association of Oil Marketing Companies’ (AOMCs) decision to set a percentage cap and defer the window for reducing fuel prices at the pump. This, according to the think tank violated Section 44 of the National Petroleum …

The Minority National Democratic Congress (NDC) in Parliament has disagreed with a statement by President Nana Akufo-Addo in the 2020 State of the Nation Address (SONA) that their administration did not drill new oil wells between 2013 and 2016. According to them, records from the Petroleum Commission indicated otherwise, showing …