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Oil & Gas

Ghana Revenue Authority serves Allied Oil Company with garnishee order 

The Ghana Revenue Authority (GRA) has served Allied Oil Company a garnishee order, directing the oil marketing company to pay any money due Ace Facade Limited, a construction firm, to the Authority for failing to pay tax. Mr John Yaw Boaben, the Chief Revenue Officer of GRA, addressing the media …

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Developmental impact of oil on Ghana so far questionable – Prof Asafu-Adjaye

A decade after oil discovery in Ghana, the commodity’s revenue generation developmental impacts so far are questionable, Professor John Asafu-Adjaye, Senior Research Fellow, Institute of Economic Affairs (IEA), has stated. He said the fact that some of the revenue generated from oil had been saved for future generations, and it …

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Spend oil proceeds within the expectations of the law – Government urged

Mr Ishmael Ejekumhene, the Executive Director of the Kumasi Institute of Technology and Environment (KITE), has called on government to stick to regulations governing the spending of oil proceeds as passed by parliament. He said a strict adherence of the law would help end the situation where millions of petroleum …

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Ellembelle District to get polyethylene plant  

Processes have commenced for the construction of a polyethylene plant in Esiama in the Ellembelle District of the Western Region. The project, which is an initiative of a consortium of Ghanaian investors in collaboration with the Ghana National Gas Company Limited (GNGC), forms part of the government’s One District, One …

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We need full participation in the oil sector – DCE

Mr Kwesi Bonzoh, the District Chief Executive of the Ellembelle District in the Western Region has stressed the need to involve the people of Nzemaland in the oil and Gas sector. This, he noted would help solve the basic needs issues of the people, adding “we cannot continue to wallow …

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First West Africa offshore training centre inaugurated

Mr Egbert Faibille Jnr, Acting Chief Executive Officer of Petroleum Commission, has said as a first step to enhance the capacity of Ghanaians in the oil and gas operations, it was important to reduce expenditure by indigenising training and minimizing overseas training. He said the government was committed to ensuring …

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Finance Minister must include petroleum revenue management in 2018 budget – Dr Manteaw

Mr Ken Ofori Atta, the Minister of Finance and Economic Planning, has been called upon to include a reconciliation report on the management of petroleum revenue in the 2018 Budget to be presented to Parliament on Wednesday, Nov. 15, 2017. This requires that the Minister indicates to the House the stage …

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Ghana to criminalise abusive transfer pricing

Ghana is considering promulgating laws to criminalize the abuse of transfer pricing in its petroleum sector, the Acting Chief Executive Officer of the Petroleum Commission, Mr. Egbert Faible, has disclosed. According to Mr. Faible, the abuse of transfer pricing in the country’s budding petroleum sector was worrying and there was …

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Government examines options on AMERI deal – Minister

Mr Boakye Agyarko, Minister of Energy, has said government is looking at all options available to them with regards to the AMERI deal. He said government is also examining all the decisions in terms of the financial implications to the country. Mr Agyarko made the revelation when he appeared before …

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Ghana oil and gas sector scores high in Resource Governance Index 2017

Ghana’s oil and gas sector scores a satisfactory 67 of 100 points in the 2017 Resource Governance Index (RGI), making it the best performer in sub-Saharan Africa.  This is contained in a Natural Resource Governance Institute (NRGI) release copied to the Ghana News Agency. The Index measures the quality of …

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