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Oil & Gas

We’ll account for every pesewa of oil money – Mills

President John Evans Atta Mills has interacted with a delegation from Tullow Oil and assured Ghanaians that the government would account for every pesewa which would accrue from oil revenues in the country. He underlined that the government held resources of the country, including the huge oil deposits in trust …

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Gas powered commercial vehicles to pay appropriate prices

Gas fuelled commercial vehicles might soon have to pay appropriate prices for the commodity. The Deputy Minister for Energy, Mr Emmanuel Armah-Kofi Buah, said this at the Volta Region “Road show on Local Content and Participation Policy on Oil and Gas operations in Ghana.” Participants had expressed concern at the …

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Oil prices exceed $86 per barrel

Oil prices rose above $86 a barrel Thursday in Asia amid signs global crude demand is growing. Benchmark crude for May delivery was up 25 cents to $86.09 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $1.79 to settle at …

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Africa to realise $200b revenue from oil in 10 years

African countries are expected to generate about 200 billion dollars in revenue from oil production in the next 10 years as new oilfields open up throughout the Gulf of Guinea. Oil was expected to generate the largest inflow of revenue in the continent’s history, and more than 10 times funds …

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Ghana, Kosmos in talks over Jubilee stake

Ghana and Kosmos Energy are in talks over the sale of the Texas-based oil company’s stake in the country’s largest oil field, the Jubilee oil field, the AFP has reported. The Jubilee oil field according to the major stakeholders, Tullow Oil, has 1.8 billion barrels of oil and has 17 …

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Nigerian oil company Oando selected to develop Ghana’s natural gas project

A Nigerian oil and gas company, Oando Plc has been selected to partner with the Ghana National Petroleum Corporation (GNPC) to develop the country’s natural gas infrastructure. The project, worth about $1 billion would be developed at the Jubilee fields, the largest oil field to be discovered in West Africa …

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