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Oil & Gas
Nigeria’s Finance Minister almost weeps, begs citizens to accept petroleum subsidy removal
Nigeria’s Co-ordinating Minister for Economy and Finance Dr Ngozi Okonjo-Iweala almost wept yesterday December 22, 2011 as she practically begged Nigerians to accept the government’s proposed removal of petroleum subsidy, reports the…
Ghana imports $2.6b worth crude, oil products one year after becoming oil producer
Ghana joined the ranks of oil producing countries one year ago, December 15, 2010.
And according to the Bank of Ghana, in the 11 months of 2011, the country has imported crude oil to the tune of $1.2 billion while imports of oil products…
FT suggests Ivory Coast using oil border dispute to punish Ghana for supporting ousted Gbagbo
Following Gbagbo's refusal to leave office, Ghana's neighbour, Ivory Coast plunged into conflict and thousands of people were killed. Gbagbo was however captured in April 2011 and is now standing trial at the International Criminal…
Expert wants government to compel oil companies to keep part of profit locally
Government must have the clout to introduce a policy that will compel oil and gas companies to retain a portion of their profits in Ghana for effective implementation of the proposed national Local Content Policy, currently before…
National Petroleum Authority must publish petroleum price build up – CEPA
The Centre for Policy Analysis (CEPA) has called on the National Petroleum Authority (NPA) to publish the price build up of all petroleum prices in the country.
That, it believes, is necessary to ensure transparency in the dealings of the…
Kosmos Energy secures new exploration licenses offshore Suriname
Texas-based oil explorer Kosmos Energy on December 14, 2011 announced that it has executed two Production Sharing Contracts with Staatsolie Maatschappij Suriname N.V. - the national oil company of Suriname, for Blocks 42 and 45 offshore…
Need for OMCs to invest in innovations to maintain global standards – MD of ENGEN
Mr Henry O. Akwaboah, Managing Director of ENGEN Ghana Limited on Friday asked Oil Marketing Companies (OMC) to invest in industrial innovations to maintain global standards in the petroleum sector in the country.
“The wave of world…
As Ghana pours oil for one year – an overview
The wheel tap was turned, the country was elated and the first oil was pumped officially by His Excellency the President Professor John Evans Atta Mills on December 15, 2010.
The turning of the tap on the FPSO was a significant moment…
Policy to compel oil companies to keep part of profit locally is critical – EO Group Boss
Government must have the clout to introduce a policy that will compel oil and gas companies to retain a portion of their profits in Ghana for effective implementation of the proposed national Local Content Policy, currently before…
Russia’s Lukoil to invest $900m in Ghana, Ivory Coast, Sierra Leone oil field projects
Russian oil giant, Lukoil will be pumping up to $900 million into oil field projects in Ghana, Ivory Coast and Sierra Leone, the Russian Today news publication reported December 14, 2011.
According to the publication, investment in the new…