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Oil & Gas
Ghana Oil Company records GH¢617m turnover
The annual turnover of Ghana Oil Company Limited (GOIL) rose from GH¢514.36 million in 2010 to GH¢617.67 million in 2011, an increase of 30 per cent, Mr Patrick Akorlie, GOIL Managing Director, said at the company’s 43rd Annual General…
Ghana, Cote d’Ivoire earn less from oil
Challenges surrounding wells and chocking perforators are among challenges bedevilling oil productivity in Ghana and Cote d’Ivoire.
While production from Ghana’s Jubilee Field has been cut short from 120,000 barrels of oil per day (bopd)…
IFC lends $80m for gas-fired plant expansion to increase power generation in Ghana
The International Finance Corporation (IFC) July 24, 2012 announced it is giving a loan of $80 million to the Takoradi International Company (TICO), to help expand its gas-fired Takoradi 2 power plant (“T2”) in order to generate more…
Government asks road users to support levy on LPG
The government has asked road users to consider as well as support proposals for a levy to be placed on Liquefied Petroleum Gas (LPG), used as fuel for road transportation.
“Based on the user pays principle for which a levy is charged on…
GNPC denies claims of not rendering account on oil revenues
The Ghana National Petroleum Corporation (GNPC) on Thursday dismissed as “inaccurate” claims that it does not render accounts to the State for oil revenues.
In a statement issued in Accra by the Corporate Affairs Department, GNPC affirmed…
Work begins on Ghana’s $1.2b gas infrastructure at Atuabo
Work on Ghana’s first gas processing plant located at Atuabo has begun in earnest.
“Part of the land has been cleared to make way for tents and equipment to be brought to the site,” the Chief Executive Officer of the Ghana Gas Company, Dr.…
Tullow finds oil, gas offshore Ghana but suspends well
British firm Tullow Oil says July 18, 2012 the Wawa-1 exploration well in the Deepwater Tano licence offshore Ghana has intersected oil and gas-condensate in a Turonian turbidite channel system.
According to Tullow, the Wawa-1 encountered…
Abu Dhabi’s TAQA acquires $355m facility for gas-fired power plant expansion in Ghana
The Abu Dhabi National Energy Company PJSC (TAQA) said July 16, 2012 that it has secured a $355 million of project financing for the 110 megawatts expansion of the gas-fired Takoradi 2 (T2) power plant in Ghana.
In a statement, TAQA said…
EITI remains critical for Africa’s oil producing countries – Expert
The Extractive Industries Transparency Initiative (EITI) remains crucial in ensuring transparency and good use of oil revenue for oil producing countries in Africa, Mr N’Dri Koffi, President, EITI, Cote d’Ivoire has reiterated.
“If the…
Review Ghana’s oil contracts – IEA
There is the need to review most of Ghana’s oil contracts which were signed as far back as 2005 to reflect current economic situations, a Senior Fellow of the Institute of Economic Affairs, (IEA) said on Monday.
Professor John…