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Oil & Gas

GOEnergy stabilises petroleum sector

The Goenergy Company Limited (Goenergy) subsidiary of Ghana Oil Company Limited (GOIL) has deflated cartels in the downstream petroleum sector saving the country from artificial fuel shortages.  Ghana has not experienced any fuel shortage since Goenergy took control of the Bulk Distribution sector in September 2014 serving major Oil Marketing …

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Energy Ministry to hold summit in Accra

The Ministry of Energy will hold the Ghana Energy Summit from June 13 to 14 in Accra, as part of efforts to open the sector to both local and international investors.  Mr Ken Wellington, the Public Relations Officer of the Ministry, said the summit on the theme: “The Future Energy in Ghana,” …

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Ghana to get Africa’s first and world’s largest LPG fired power plant

General Electric Company says it will supply the power generation equipment for the Bridge Power plant project in Ghana, according to a  press release copied to ghanabusinessnews.com. The equipment, which will be used in the first phase of the project, will collectively generate 200MW of power and an additional 200MW …

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Ghana: How inflated expectations of oil revenues led to deterioration in macroeconomic management

Prior to the discovery of oil, Ghana was one of the stars of the ‘Africa rising’ story, with an established track record of macroeconomic stability and fiscal discipline. When oil was discovered, there were great hopes that Ghana would avoid the ‘resource curse’. Initial signs were promising — the Petroleum …

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Ghana on the verge of petroleum crisis – AOMCs

Ghana is on the verge of petroleum crisis as activities of Petroleum Black Market dealers is growing. Therefore the Association of Oil Marketing Companies (AOMCs) has called on government to take far-reaching measures to deal with the situation.      “Given the gravity of Petroleum Black Market dealers, we members of …

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Growing petroleum black market trade could disrupt economy – OMCs

Scores of Oil Marketing Companies (OMCs) on Wednesday called on the National Security to tighten the noose around Petroleum Black Market dealers whose infiltration into the sector posed a  great risk to the national economy. Mr Henry Akwaboah, Managing Director of Engen Ghana Limited told the Ghana News Agency in …

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Illicit financial flows meeting calls for investigations into Western Corridor Gas Project EPCC

Participants at a high level convening on Illicit Financial Flows (IFFs), held in Accra have called for thorough investigations into why the Engineering, Procurement Construction and Commissioning (EPCC) contract of the Western Corridor Gas Infrastructure Project never passed through Parliament. In a communiqué issued after a two-day workshop on Illicit …

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Human activities pose danger to gas pipeline

Activities of some residents of Bankuman in Tema Manhean are endangering the safety of pipelines buried for the transmission of natural gas by the West Africa Gas Pipeline Company (WAPCO). Their activities either in or at the edge of the gas pipeline’s right-of-way could lead to a possible fire outbreak …

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Ghana Gas seals deal with Chinese Multinational Yantai Jereh

The Ghana Gas Company has signed a contract with the Yantai Jereh group, a Chinese multinational oil fields service conglomerate to construct an onshore natural Gas pipeline infrastructure in the country. A statement by the Global Media Alliance and copied to the Ghana News Agency in Accra on Monday said, …

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Black market dealers in Ghana’s petroleum sector cause $500m loss in 2016 – AOMC

The Association of Oil Marketing Companies (AOMCs) has lauded government’s effort to instilling discipline in downstream oil marketing sector and to ward-off infiltrators whose nefarious activities cause the nation to lose millions of cedis in tax revenue.    The government lost revenue in excess of $500 million in 2016 through …

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