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Ghana to criminalise abusive transfer pricing

Ghana is considering promulgating laws to criminalize the abuse of transfer pricing in its petroleum sector, the Acting Chief Executive Officer of the Petroleum Commission, Mr. Egbert Faible, has disclosed. According to Mr. Faible, the abuse of transfer pricing in the country’s budding petroleum sector was worrying and there was …

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Government examines options on AMERI deal – Minister

Mr Boakye Agyarko, Minister of Energy, has said government is looking at all options available to them with regards to the AMERI deal. He said government is also examining all the decisions in terms of the financial implications to the country. Mr Agyarko made the revelation when he appeared before …

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Ghana oil and gas sector scores high in Resource Governance Index 2017

Ghana’s oil and gas sector scores a satisfactory 67 of 100 points in the 2017 Resource Governance Index (RGI), making it the best performer in sub-Saharan Africa.  This is contained in a Natural Resource Governance Institute (NRGI) release copied to the Ghana News Agency. The Index measures the quality of …

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AfDB and OpenOil launch report on how African governments manage extractive resources

The African Development Bank (AfDB) and OpenOil, a Berlin-based financial analysis firm, have jointly produced a report on how African governments use financial models to manage oil & gas and mining projects.  The report was launched at the 13th Annual General Meeting of the Intergovernmental Forum on Mining, Minerals, Metals …

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Over 700 Ghanaian businesses registered with Petroleum Commission

More than 700, Ghanaian businesses have  in the past 10 years  registered with the Petroleum Commission, Mr Benjamin  Boakye, Executive Director of  African Centre for Energy policy (ACEP) has said.     Mr Boakye said this during the 6th public session of Citizens Advisory Council in Takoradi.       The session was …

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There is no problem with gas stations in communities – Oil and gas Executive

Mr Ellis Prince Antsroe, Chief Executive Officer, Antils Oil and Gas has rejected suggestions that siting fuel and gas refilling stations at the outskirts of towns was the solution to gas explosions and its related loss of lives and property. “Settlements and businesses will always spring up around fuel stations, …

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Tullow Oil acquires 90% stake in four oil blocks in Côte d’Ivoire

Tullow Oil plc (Tullow), on Thursday, announced that it has acquired 90 per cent stake in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10 per cent within the four acquired blocks namely, CI518, CI519, CI301 and CI302, which cover 5,035 …

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About 400 gas stations located in residential areas in Ghana

Mr Kojo Oppong Nkrumah, a Deputy Ministry of Information, has said about 400 gas stations are located in residential areas across the country. Meanwhile, the President has said that the Government would soon come out with a policy intervention to address the frequent gas explosions.     Both the President and …

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Stop extracting fossil fuels – Oilwatch Africa

Oilwatch Africa network, an environmental non-governmental organisation, has called on governments of oil producing countries to desist from the exploration of fossil fuels and rather invest in renewable energy as an alternative. The Oil Africa network said that governments will not only be putting an end to the world’s beckoning …

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Maritime boundary ruling will boost investor confidence – Terkper

The Former Finance Minister, Mr Seth Terkper has said the maritime boundary ruling in favour of Ghana would boost investor confidence and provide certainty in the country’s economic direction. Speaking to a section of journalists on the ruling, Mr Terkper said the economic case for International Tribunal for the Law …

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