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Oil & Gas

Government appoints Fidelity, StanChart lead Managers of GH¢10b energy bond

Government has appointed Fidelity Bank and Standard Chartered Bank as joint lead Managers for the  issuance of an Energy Sector Levy Act (ESLA) backed Bond to the tune of about GH¢10 billion. The amount is the total estimated legacy debt within the energy sector. The two banks were selected after government …

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Oil production in Ghana declines, despite additional TEN fields, six years after first oil – PIAC

Six years after Ghana started oil production in December 2010, and after progressively increasing production, the country experienced a drop in production in 2016, despite additional oil from the new Tweneboa, Enyenra and Ntomme (TEN) fields which started production in August last year. According to the annual report of the …

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Downstream petroleum market exhibit vitality

The downstream Oil Marketing sector picks up gradually in second quarter of the year after marginal turbulence in the first quarter, Mr Gyemfi Amanquah, Chief Operating Officer of GOENERGY Company Limited stated on Monday. Mr Amanquah told the Ghana News Agency in an interview that trading in the second quarter …

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GOIL introduces upgraded electronic prepaid fuel purchase card

The Ghana Oil Company Limited (GOIL) the nation’s foremost indigenous Oil Marketing Company (OMC) is to introduce an upgraded electronic prepaid card to assist customers reduce volume of physical cash business transaction. The upgraded GOIL Advantage Cards (G-Cards) also seek to provide existing and prospective customers to help manage fuel …

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Energy Ministry reviewing draft LPG policy

The Energy Ministry is reviewing a new draft Liquified Petroleum Gas (LPG) policy to provide direction on marketing and distribution of LPG in a safe and efficient manner to enhance access nationwide. Mr Boakye Agyarko, the Energy Minister, who announced this, expressed the hope that new marketing and distribution structure …

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Ghanaians asked to demand accountability on oil revenue

The African Centre for Energy Policy (ACEP), a policy think – tank on Thursdaycalled on Ghanaians to demand accountability on oil revenue funded projects in local communities to minimise corruption in sector. Mr Benjamin Boakye, the Acting Executive Director of ACEP, who made the call, observed that previous tracking of oil …

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Public Interest and Accountability Committee unsatisfied with projects in Ho

The Public Interest and Accountability Committee (PIAC) has expressed dissatisfaction with selected projects funded under the Annual Budget Funding Amount (ABFA) in Ho. Mrs Marilyn Aniwa, PIAC Project Coordinator, at a public forum after an inspection tour of projects under the Fund, said the Committee was disappointed at the slow …

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Stakeholders call for collaborations in oil and gas business

Discussants at a day’s Media interaction have called on Oil Marketing Companies to undertake thorough underground works before siting their facilities especially where the fuel filling stations were close to residential areas.    The thorough works, they said should include; painstaking consultations with relevant organisations such as; the Ghana National …

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Ghana to pursue aggressive oil exploration – Minister

The government will pursue more aggressive oil exploration to beef up Ghana’s production capacity for the nation’s socio-economic development Mr Boakye Agyarko, Energy Minister has said. He said oil played a key role in Ghana’s development. He said “apart from the revenue, we depend on oil for our power generation, …

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Ghana to share oil and gas experience with Senegal

President Nana Addo Dankwa Akufo-Addo has indicated Ghana’s preparedness to share its experiences in the management of its oil and gas resources, as well as the measures taken to ensure the prudent and effective use of the proceeds from their sale with Senegal. He said: “With the recent discovery of …

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