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Oil & Gas

BDCs asked to channel petroleum exports for Sahelian through BOST

Cabinet has directed that all petroleum products meant for export from Ghana onto the Sahelian market be channelled through the Bulk Oil Storage and Distribution Company limited (BOST). The directive, which takes effect next week, is in a bid to clamp down on the dumping of such products onto the …

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Energy Minister attends WAGPA’s Committee of Ministers Meeting

The Minister of Energy, Mr Boakye Agyarko has addressed the Committee of Ministers (COM) of the West African Gas Pipeline Project in Cotonou, Benin. A statement issued by Mr King A. Wellington, the Head of the Communications Unit, Ministry of Energy and copied to the Ghana News Agency said the …

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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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