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Oil & Gas

Italian oil company, Eni strikes oil in Ghana

Italian oil explorer, Eni S.P.A says it has discovered hydrocarbon at offshore Ghana at the Gye Nyame 1 well. The well is located Offshore Cape Three Point (OCTP) block 50km offshore Ghana. “The well, which was drilled in 519 meters of water, was drilled to a total depth of 3,349 meters and …

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Ghana Oil Company signs agreement to get marine gas oil supply from South Korea

The Ghana Oil Company Limited (GOIL) has signed a contract with SK Shipping Company Limited of Korea to supply Marine Gas Oil (MGO) to its customers servicing the exploration companies. The contract was signed by Mr. Yaw Agyemang-Duah, Managing Director of GOIL, and Mr. Kyuho Whang, President and CEO of …

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Government denies media reports on EO Group

Government has denied reports in sections of the Media that it has abandoned the on-going investigations regarding the EO Group, and that in exchange government had received reparation from the Group. The denial was contained in a statement signed by Dr. Joe Oteng Agyei, Minister of Energy, and copied to …

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Youth to benefit more from oil revenue -Deputy Energy Minister

The Deputy Energy Minister, Mr Emmanuel Armah Kofi Buah, has said that the excess revenue from the two crude oil consignments lifted from the Jubilee Oilfields would be used for social interventions in the country. He said Ghana pegged the oil price at $80 per barrel but attracted $105 per …

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Tullow Oil finally buys EO Group’s $305m interest in Ghana’s Cape Three Points

British oil producer, Tullow Oil announces today July 25, 2011 that it has completed the acquisition of E.O. Group’s stake in Ghana’s Cape Three Points. EO is a Ghanaian oil producer in the Jubilee partners – the number of companies drilling for oil in the largest oil field in Ghana. …

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OPEC targets young readers on education about oil industry

The Organisation of Petroleum Exporting Countries (OPEC) says it has set out to broaden its appeal to younger people with the publication of a book that gives basic information on the oil industry. Entitled “I Need to Know: An Introduction to the Oil Industry and OPEC”, the oil cartel publication …

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Ghana establishes National Gas Company

Mr Armah Kofi Buah, the Deputy Minister of Energy, on Friday said parliament had approved the formation of Ghana National Gas Company to manage the sector. He said the company would see to the transportation and development of infrastructure in the oil and gas sector. Mr Buah was speaking in …

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Price of LPG should be increased for drivers – New Juaben residents

Some residents in the New Juaben Municipality have appealed to the Government to consider increasing the price of Liquidated Petroleum Gas (LPG) for commercial drivers to ensure that the product would be available for domestic use at all times. According to residents per the explanation of the Ghana National Petroleum …

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Bill to help Ghana Maritime Authority manage new challenges in oil sector to be passed soon

A bill to assist the Ghana Maritime Authority to carry out additional responsibilities towards the effective management of offshore oil and gas production is expected to be passed into law soon. The Ghana Maritime Authority (GMA) (Amendment) Bill, 2011, currently before parliament, will amend the GMA Act, 2002 (Act 630) …

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