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Oil & Gas

Ghana Parliament approves China loan offtaker agreement for crude oil lifting

The Parliament of Ghana on Wednesday approved an offtaker agreement between the Ghana National Petroleum Corporation (GNPC) and the UNIPEC Asia Company Limited for the lifting of crude oil from the Jubilee Field. The agreement is under the Master Facility Agreement (MFA) between Ghana and the China Development Bank (CDB). …

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Jomoro Youth demonstrate against re-location of gas Project

A large number of the youth in the Jomoro District of the Western Region on Friday went on a two-hour peaceful demonstration at Beyin, to register their protect against the relocation of the Domunli Gas Project. The demonstrators dressed in mourning clothes with red bands held placards some of which …

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Oil marketing firms say fuel price hikes impact on operations negatively

The Association of Oil Marketing Companies (AOMCs) on Tuesday revealed that increases in fuel prices had impacted negatively on the operation of downstream oil marketing companies. “The reality on the marketing field is OMCs make very low return on their investment, therefore when fuel prices are increased, what it means …

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Environmental Protection Agency confiscates a can of diesel

The Eastern Regional Office of the Environmental Protection Agency (EPA) has confiscated a can of diesel from a woman who was selling the commodity in her house at Kokom-Kwamoso near Adawso. Mr Felix Addo-Okyireh, the Regional Director of the EPA, expressed worry over the sale saying that it posed danger …

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Tullow to undertake nine exploration, appraisal activities in Ghana during 2012

British oil producer Tullow says it is certain to undertake nine exploration and appraisal activities in Ghana during the year 2012. The activities will take place at nine prospects, eight of which are located at the Deepwater Tano block and the other situated at the West Cape Three Points block, …

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Tullow Oil says 45% of $2b planned investment for exploration, appraisal

Tullow Oil Plc says it is allocating 45% of its 2012 global investment funds for exploration and appraisal activities. The oil producer has forecast to spend $2 billion in the year 2012. The British firm’s 2011 capital expenditure amounted to $1.4 billion excluding acquisitions. “Based on current estimates and work …

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Engen Petroleum acquires assets of Chevron in seven sub-Saharan Africa

Engen Petroleum Limited, the African downstream petroleum products refiner and marketer at the weekend disclosed that it has acquired the assets of Chevron in seven countries in sub-Sahara Africa. “We have completed the integration process, now the sky is the limit as we seek to become the champion in Africa,” …

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Tullow partners Shell for oil explorations

London-listed Tullow Oil Plc has signed a non-binding Memorandum of Understanding with Anglo-Dutch Shell to partner for new frontier exploration in select basins and geological plays around the Atlantic Basin. Both companies will pursue and evaluate transformational geological plays in underexplored frontier basins, according to Tullow’s trading statement January 18, …

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Local suppliers contribute less than 10% of $6b spent on Ghana oil fields: GNPC

An amount of about $6 billion has been pumped into oil activities in the country over the last few years with local suppliers contributing less than 10% of the money, according to the Ghana National Petroleum Corporation (GNPC). The expenditure was made on exploration, development and production activities at the …

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