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Oil & Gas

Ghana, Egypt, Gabon attract more oil investments ahead of UK – Report

Three African countries including Ghana have been cited as ahead of the UK in attracting more investments in the oil and gas sector. Ghana joined the world’s league of oil producing countries when commercial production of oil began in the Jubilee oil fields on December 15, 2010. A report by …

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Accra to host major oil summit in November

Accra will in November host an oil summit that is expected to attract hundreds of international investors after a thriving first year for the Ghanaian oil industry which has sparked interest across the globe. According to organizers, the Ghana Energy Summit 2011, which would bring together many of the world’s …

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Ghana expects to earn GH¢1.2b from oil in 2011

The government of Ghana is expecting to earn revenue of GH¢1,250.8 million from oil in 2011, the Minister of Finance and Economic Planning has said. In Parliament to seek approval for a supplementary expenditure for 2011 Thursday July 14, 2011, Dr. Kwabena Duffuor said the estimate was based on the …

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Ghana government spends GH¢86.3m on fuel price subsidy

Dr Joseph Oteng Adjei, Minister for Energy, said on Wednesday that this year’s total fuel price subsidy from the Ministry of Finance and Economic Planning is GH¢86,313,969.00. He said the available empirical data shows that government over the years has been subsidising fuel prices. Dr Adjei took his turn to …

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Let us appreciate oil find as national asset – Minister

Dr Kwasi Akyem Apea-Kubi, Eastern Regional Minister, has urged Ghanaians to appreciate the oil resource as a national asset whose management must be above sectional interests. “In this regard, every Ghanaian must feel the positive blessings of our new found fortune; the oil wealth, he stated. Dr Apea-Kubi said that …

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Operators of Liquefied Petroleum Gas schooled in advocacy

Members of the Ghana Liquefied Petroleum Gas Operators Association (GLPGOA), have pledged to collaborate with state agencies in finding a lasting solution to the problem of unstable supply and distribution of Liquefied Petroleum Gas (LPG) in the country. This was at the end of a five-day training programme in Tema, …

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Ghanaians urged to work together to protect oil revenue

Ghanaians have been urged to be vigilant and work together to ensure the protection and efficient utilization of the nation’s oil revenue. Dr Joe Amoako-Tuffuor, Professor of Economics at the Saint Francis Xavier University in Nova Scotia, Canada, said even though, the Oil Revenue Management Law sought to promote transparency …

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Engineer drowns in crude oil storage tank

Mr John K. Asemaku, Third Engineer on MT Bonsu-Q, a crude oil storage vessel, got drowned in one of the tanks when he attempted to fix a decoupled hose to a pumping machine on Thursday. A statement from Saltpond Offshore Producing Company Limited (SOPCL), owners of MT Bonsu-Q, said: “As …

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Kosmos Energy raises capital expenditure for Ghana from $400m to $430m

Texas-based oil explorer, Kosmos Energy, says it has budgeted for $430 million for its operations in Ghana for the year 2011. Initially, Kosmos indicated in its S-1 Filing to the US Securities and Exchange Commission that it will invest an amount of $400 million in Ghana for the year. But …

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