Oil & Gas

The Ghana Oil Company Limited (GOIL) on Friday discredited the perception that a fully deregulated petroleum sector will lead to price hikes and manipulation by the oil marketing companies. “A deregulated regime on the contrary will generate competition among operators especially on attracting and retaining customers, a development which will …

A long stretch of the coastline at Axim in the Western Region has been inundated with heavy oil spillage, known as tar balls, as a result of the increase in vessel traffic in the country’s waters. The substance is not the country’s sweet crude currently being produced offshore at the …

Tullow Oil Plc says it is expecting to start first commercial production at the Tweneboa and Enyenra (Owo) fields in 2014. According to the UK oil firm, it has conducted a “successful appraisal drilling and testing programme in the first half of 2011, a declaration of commerciality for the Enyenra …

There are various petroleum bills before Ghana’s Parliament, but when these bills are passed into laws, they would not change anything in the contract that the country already has with the oil companies producing oil in Ghana. An energy advisor to the Ghana government Tony Paul has told journalists from …

Progress at the consideration stage of the Petroleum Revenue Management Bill stalled on Tuesday for lack of consensus on contentious clauses that could change the destiny of the bill. Sitting was suspended for over thirty minutes to enable the Majority and the Minority to confer on issues and settle on …

MODEC, the Japanese company now under investigation for bribery in Ghana’s nascent oil sector says it has found “no evidence of any violation” in its role in the joint venture, the Wall Street Journal reports citing a statement from the company. MODEC, is a Japanese company that owns the floating …

Tullow Oil and the Vitol Group, producers and marketers of Ghana’s oil, have rebuffed claims by a section of the Ghanaian media that the first consignment of 650,000 barrels from the Jubilee Oil Fields was sold below the prevailing world market price. In a joint statement describing the assertion as …

Ghana’s crude oil, the Jubilee sweet can be refined by Ghana’s Tema Oil Refinery, according to extractive industry expert, Dr. Thomas Akabzaa. Dr. Akabzaa said these Sunday January 23, 2011during discussions at a weeklong Reporting Oil training session for journalists from Ghana and Uganda in Accra. Presenting a discussion paper …

The Association of Oil Marketing Companies (AOMCs) on Saturday named 40 accredited oil marketing companies in good standing for business in 2011. The companies are” Agapet Oil, Allied Oil, Anasset Oil, AP Oil & Gas, Bano Oil, Capstone Oil Ltd, Champion Oil, Dukes Petroleum, Engen Ghana Ltd, Excel Oil, Fraga …

The Ministry of Defence has constitut­ed a committee to protect the coun­try’s oil and gas fields against terror­ist attacks, sabotage and environmental pol­lution. The Petroleum Security and Co-ordinating Committee (PSCC) is also mandated to co­ordinate the safety and security efforts of all Ministries, Departments and Agencies (MDAs). The committee, which …