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Oil & Gas
South Africa cancels contract of Ghana power producer Karpowership over environmental concerns
South African authorities have cancelled a contract between the country and Turkish company Karpowership to generate electricity. The country’s Department of Forestry, Fisheries and the Environment says the environmental impact assessment…
GOIL profit after tax drops to GH¢90m in 2020
GOIL Company Limited’s profit after tax in 2020 dropped to GH¢90.03 million down by 14.5 per cent compared to the previous year.
Consequently, earnings per share also fell by 14.5 per cent in 2019 GOIL’s Profit after tax stood at…
Ghana petroleum revenue declines in 2020 – PIAC
The Public Interest and Accountability Committee (PIAC), says revenues accrued from upstream petroleum operations in Ghana declined significantly in 2020 as compared to 2019.
It attributed the decline to the outbreak of the COVID-19…
Petroleum Black marketers still a threat to industry – AOMC
The Association of Oil Marketing Companies (AOMC) on Friday said activities of Petroleum Black Market dealers pose a threat to the country’s downstream petroleum sector and called on National Security to tighten the noose.
Mr Henry…
PIAC reiterates call for National Development Plan
The Public Interest and Accountability Committee (PIAC) has reiterated the call for the development of a national plan to guide the use of oil revenues in the country’s development process.
The PIAC said such a development framework…
Eni says working to find acceptable solution to unitisation stalemate
Eni and Vitol say they are working with the Ministry of Energy and Petroleum Commission and GNPC to find a mutually acceptable solution to enable the Country to capitalize on the Afina discovery.
“In principle, we are not opposed to…
Kofi Buah urges govt to revamp upstream petroleum sector
Mr Emmanuel Armah Kofi Buah, former Minister of Energy, has asked the Government to, as matter of urgency, revamp the nation’s upstream petroleum sector.
He said he was concerned about the likely collapse of the sector, and for the…
BOST makes GH¢31m profit in 2020
Mr Edwin Provencal, Managing Director (MD), Bulk Oil Storage and Transportation (BOST), says at the end of 2020, the Company made a profit of GH¢31 million.
He noted that the profit was attained in 2020 through the efforts and…
Brent Nartey is new Engen Ghana MD
Mocoh Ghana Limited has announced Mr Brent Nartey Energy Expert as the new Managing Director of Engen Ghana Limited, effective June 3, 2021.
Mr Nartey takes over from Mr Henry Akwaboah, who was Engen’s Managing Director in Ghana for…
OMCs can’t fix fuel prices higher than NPA’s schedule
The Association of Oil Marketing Company (AOMC) has disclosed that Oil Marketing Companies (OMCs) cannot fix fuel prices higher than the scheduled price build up from the National Petroleum Authority (NPA) under the deregulation policy.…