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Oil & Gas
Environmental Protection Agency closes down ten fuel stations
A total of 10 fuel filling stations in the Eastern Region have been closed down by the Environmental Protection Agency (EPA) for failing to obtain permits and not meeting safety requirements.
The closure followed the expiry of a 90- day…
Stakeholders want TOR to refine Jubilee oil
The General Transport, Petroleum and Chemical Workers Union (GTPCWU) has called on government to address the erratic supply of crude oil to the Tema Oil Refinery (TOR) to avoid the recurrence of LPG shortage.
This would also help in…
Kosmos announces successful appraisal of Teak-3A well offshore Ghana
Kosmos Energy, the operator of the Teak-3A appraisal well offshore Ghana announces today that it has confirmed a northern extension of the discovery on the West Cape Three Points Block.
In a press release issued today November 18, 2011 and…
Tullow organizes training seminar for 30 local businesses
Tullow Ghana Limited, major operators in the country’s Oil industry, in its determination to implement the local content policy, began a two-day training workshop for 30 business companies drawn from the Western Region on Thursday in…
Ghana’s subsidy on petroleum products cost govt GH¢267.6m as at September 30 – Dr Duffuor
Ghana’s Finance Minister Dr Kwabena Duffour says the government has subsidize ex-pump price of petroleum products to the tune of GH¢267.61 million as at September 30, 2011 from the beginning of the year.
Reading the 2012 budget themed…
Ghana eyes $768m revenue from oil sale in 2012 as country misses 2011 target
Ghana is targeting a total revenue of GH¢1.23 billion ($768 million) from the sale of crude oil in the 2012 fiscal year, according to government’s 2012 budget presented to Parliament November 16, 2011.
This is based on an estimated…
Kosmos Energy earns $230m from sale of 2 million barrels of oil offshore Ghana
Texas-based oil explorer, Kosmos Energy says it has generated $230 million from the sale of approximately two million barrels of crude oil from Ghana’s Jubilee fields in 2011 third quarter, according a statement on its website November 10,…
Ghana lifts 2.9 million barrels of crude oil, receives $337.3m in revenue since start of oil…
The Ghana National Petroleum Corporation (GNPC) has lifted oil from the Jubilee fields four times since the start of commercial production of oil on December 15, 2010.
Reading the 2012 budget on the floor of Parliament today November 16,…
Ghana to peg oil corporate tax at 35% in spite of increases globally
Ghana is set to fix its oil corporate tax, which is a tax on profits made by oil companies, at 35% as it amends the Internal Revenue Act, despite revision of the tax upwards by many countries globally, ghanabusinessnews.com has learnt.
The…
Economists warn Ghana of risks, oil curse, Dutch disease as oil money flows
Some economists have warned that Ghana is likely to face some economic risks, including the phenomena known as 'Dutch disease' as the country earns money from its new found natural resource, oil and the country's economy grows. The Ghana…