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Oil & Gas

Petroleum Authority says it has cut smuggling of products by 93%

The National Petroleum Authority (NPA) on Wednesday said the stringent measures it instituted to curb smuggling of products has drastically reduced diversion from 30 million litres last year to two million litres as at August, this year. It said the reduction represented about 93 per cent decline and saved the …

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Citizens must see tangible funded oil projects – Report

The Annual Budget Funding Amount (ABFA) of Ghana’s oil contribution to development in agriculture and education in the northern sector should make funded projects visible to citizens, says a SEND-Ghana report. The 2016 report titled: “Oil for citizens: reality or mirage,” was carried out with the support of Oxfam America …

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It’s risky funding free SHS solely with oil money – PIAC

Dr Steve Manteaw, Chairman of the Public Interest and Accountability Committee (PIAC), has said it is risky for Government to rely solely on oil revenue to fund the free Senior High School (SHS) programme. He said the country must diversify its sources of funding for the free SHS programme due …

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Tullow Ghana to drill eight new wells

The management of Tullow Oil Ghana Limited has said it will drill up to eight infill wells in 2019. Mr Kweku Awotwi, the Managing Director, Tullow- Ghana, said the rig agreements gives the company maximum flexibility to optimise the drilling schedule as the wells come on-stream and “we can assess …

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TOR discharges crude oil for refining

The Tema Oil Refinery (TOR) is expected to complete the discharging of about 950,000 barrels of crude oil on Tuesday as it prepares its boilers for refining fuel after several months of shut down. A source at the Refinery told the Ghana News Agency that the discharging of the crude …

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New military base for protection of Ghana’s oil resources – Akufo-Addo

Government has signed a contract for the construction of a Forward Operating Base at Nzulebu in the Western region to enable the Ghana Navy to better protect Ghana’s oil resources, President Nana Addo Dankwa Akufo-Addo has said. Additionally, government in conjunction with the Ghana National Petroleum Corporation, have ordered six …

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President directs review of exploratory and petroleum agreements

President Nana Addo Dankwa Akufo-Addo has charged the Energy Ministry to review critically existing oil exploratory activities and petroleum agreements, as the country moves to ensure efficiency and transparency in the management of its oil and gas resources. Such a review, would determine oil fields that are sub-optimal, and possibly …

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Bank of Ghana holds key for reduction in fuel prices – GOIL

The Ghana Oil Company Limited (GOIL) on Monday asserted that the Bank of Ghana holds the key for reduction in the prices of fuel which is on the upper trajectory. Mr. Alex Josiah Adzew, GOIL Chief Operating Officer explained in an interview with the Ghana News Agency in Accra that; …

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Saint Louis Petroleum to build the second largest tank farm in Ghana

The Saint Louis Petroleum Company, a nascent oil and Gas Company, is to construct the second largest tank farm in Ahutuma in the Ahanta West Municipality of the Western Region. The $300 million tank farm when completed, would offer job opportunities to more than 2500 indigenes who are qualified to …

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AfDB gives $1.5m worth of technical assistance to Ghana for energy efficiency

Mr Akinwumi Ayodeji Adesina, the President of the African Development Bank Group, says the Bank has provided technical assistance worth $1.5 million to Ghana towards removing barriers to investment in the renewable energy efficiency. He said Ghana was showing the way towards universal access to energy because she currently had …

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