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Oil & Gas

Penplusbytes builds media capacity to mainstream the agenda for oil and gas

Penplusbytes with support from Ghana Oil and Gas for Inclusive Growth (GOGIG) is implementing a 6-month “enhancing the role of the Media in promoting Oil and Gas sector transparency and accountability” project. The project is aimed at increasing transparency and accountability in the sector through effective public oversight on oil …

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Ghana agrees with Russia’s GAZPROM for gas supply

Ghana’s sales agreement with Russian energy giant, GAZPROM, for the supply of Liquefied Natural Gas (LNG) will impact the country’s economy positively, President Nana Addo Dankwa Akufo-Addo has said. GAZPROM, a world leader in gas production, has reached and signed a Gas Sales Agreement (GSA) with the Ghana National Petroleum …

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Deputy Minister tasks BOST Board to avoid conflict of interest

Mr William Owuraku-Aidoo, Deputy Minister of Energy, in-charge of Power, has tasked the newly inaugurated Board of the Bulk Oil Storage and Transportation Company Limited (BOST) to avoid conflict of interest. Speaking at the inauguration of the new BOST Board in Accra, Mr Owuraku-Aidoo reminded the members that the Ministry …

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Education is best legacy of oil companies – GNPC

Investing in education is the best legacy that oil and gas companies operating in the Ghana will leave behind, Dr Kofi Koduah Sarpong, Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), has said. He said the GNPC was offering scholarships to over 500 Ghanaians to pursue courses in …

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Citizens must ensure governments use long term development plan – PIAC

The Public and Accountability Committee (PIAC) says it is up to citizens of Ghana to ensure that current and successive governments use Ghana’s long term development plan as the basis for setting priorities for investment of Petroleum revenues. Mr Kwame Jantuah, Vice Chair of PIAC, said the 40-year development plan, …

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Petroleum and Gas Industry must provide capital for investment in job-creating sectors – Minister

Dr Owusu Afriyie Akoto, Minister of Food and Agriculture, says the petroleum and gas Industry is not conducive for the creation of jobs and must focus more on generating money to be invested in other job-creating sectors such as agriculture. He said the future of Ghana’s oil and gas sector …

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Tullow Oil makes $270m in insurance compensation for damage caused FPSO turret bearing

Tullow oil Ghana Limited has received $220 million from insurers as compensation for the damaged turret bearing that hangs on the Floating Production Storage Offloading Vessel (FPSO). This is part of a sum of $270 million that the Lead Partner has requested from the Insurer. Tullow, according to the Managing …

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ITLOS to deliver judgment in Ghana-Cote d’Ivoire oil boundary dispute next month  

There is uncertainty in Ghana and Ivory Coast as the International Tribunal on the Law of the Sea (ITLOS) prepares to deliver its judgment in the disputed oil rich oceanic boundary case between the two countries. The ITLOS decision is expected in September 2017 and Ghana’s oil reserves could increase …

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Petroleum Commission Board inaugurated

Mr Boakye Kyeremanteng Agyarko, the Minister of Energy, has called on the Petroleum Commission to  facilitate the development of upstream petroleum regulations in its bid to ensure compliance of national laws and agreements relating to petroleum activities. The upstream sector refers to the effective management of the oil and gas resources as well as …

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Ghana secures gas supply agreement from Equatorial Guinea

Ghana has signed a Heads of State Agreement with Equatorial Guinea for the supply of 150 million to 200 million standard cubic feet of Liquefied Natural Gas (LNG) per day. The agreement was secured during President Nana Addo Dankwa Akufo-Addo’s three-day official visit to that country. The move forms part …

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