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Ghana Parliament approves $850m loan to finance gas infrastructure

Ghana’s Parliament on Thursday approved the Subsidiary Agreement between Ghana and China Development Bank Corporation (CDB) for $850 million to finance the Western Corridor Gas Infrastructure Development Project. This is the main thrust of government’s agenda for national economic transformation. Government, with the legislative approval to contract the money , …

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Tullow hits oil at Jupiter-1 offshore Sierra Leone

British Tullow Oil plc (Tullow) today February 21, 2012 announces that the Jupiter-1 exploration well in Block SL-07B-11 offshore Sierra Leone has successfully encountered hydrocarbons. The well, Tullow says “intersected “30 metres of hydrocarbon pay in the primary Upper Cretaceous objective and did not encounter a hydrocarbon water contact.” “This …

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Bonyere citizens threaten secession over relocation of Ghana’s first gas plant

The decision of the Ghana Gas company engineers to relocate Ghana’s first gas processing plant from Bonyere to Atuabo is brewing tension  among the youth in the Bonyere area who are threatening to secede to Ivory Coast. “If they don’t want the project to come to Bonyere, then we would …

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Ghana earned over $444m from oil export in 2011 – President Mills

President John Evans Atta Mills on Thursday disclosed that Ghana earned a total of $444,124,724 from the sale of Ghana Group’s oil lifting of 3,930,189 barrels of crude oil. He said some challenges in production at the Jubilee Oil Field had been scaled down pending the completion of a remedial …

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Commercial drivers say 20% fuel price reduction insignificant

Some commercial drivers in the Wa Municipality have described the recent 20 per cent reduction in  fuel prices as woefully insignificant and would have no positive impact on the cost of living. They said it would rather create problems, as passengers would demand a reduction in fares, which according to …

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British Afren says Italian Eni starts drilling oil at Keta block offshore Ghana

British oil firm, Afren Plc on February 6, 2012 announced that Italian oil giant Eni has started drilling on the Keta block, located in the Volta River Basin offshore Ghana. “Eni Ghana exploration and production Ltd., operator of the Keta block which is located in the Volta River Basin offshore …

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Kosmos Energy sued for ‘misleading’ shareholders on Ghana’s Jubilee oil output

Texas-based oil explorer Kosmos Energy has been sued in the US for giving false projections to shareholders that Ghana’s Jubilee oil fields will be able to produce 120,000 barrels of oil per day beginning 2012. Lead Jubilee operator, Tullow Oil in its trading statement January 18, 2012 said daily output …

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French company Technip gets €100m contracts for Phase 1A Jubilee oil project offshore Ghana

Paris-based oil services company, Technip says February 6, 2012 that it has been awarded two contracts worth approximately €100 million by Tullow Oil for the Phase 1A of the Jubilee project in Ghana. The contracts, Technip said “Cover full project management, engineering, fabrication and installation of a new flexible riser, …

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Arts workers call on government to mitigate effect of fuel hike

Mr Frank Boakye-Yiadom, Chairman of Arts Centre Workers Association (ACWA) in Accra on Friday called on government to institute measures to mitigate the effects of the recent increases in prices of petroleum products. This, he said is affecting cost of production in the country. Speaking to the Ghana News Agency …

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