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Oil & Gas

GNPC, Rosneft sign gas supply agreement

The Ghana National Petroleum Corporation (GNPC) has signed a twelve-year agreement with Rosneft, a Russian integrated energy company, for the supply of natural gas to the country. The supply contract is a hybrid Liquefied Natural Gas (LNG)/Gas supply agreement, where Rosneft would deliver LNG to a regasification terminal located at …

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PIAC finds oil money funded school project in Nkoranza being eaten by termites

Barely three years after the completion of a six-unit classroom block for the Nkoranza Anglican Primary School in the Brong Ahafo Region, termites have started destroying the doors with the handles and locks falling off. The project, partly funded with oil revenue, was awarded for contract in 2012 at a sum …

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Ghana Gas to shut down supply for 21 days

The Ghana National Gas Company (GNGC) plans to shut down gas supply to the Aboadze power enclave for 21 days, starting May 28, 2018. The shutdown is to allow for turret remediation works at the Floating Production and Storage Offshore (FPSO) Kwame Nkrumah, a combined statement issued by the Volta …

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President must call Energy Minster to order on TOR conversion – TDCL

The Tema District Council of Labour (TDCL) has petitioned President Nana Addo Dankwah Akufo-Addo to call to order Mr Boakye Agyarko, Minister of Energy, on the proposed conversion of Tema Oil Refinery (TOR) into a tank farm. Mr Agyarko is reported to have stated in Houston, Texas in the United …

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Anlo youth demonstrate against oil exploration in Keta

Hundreds of residents from communities in the Keta Municipality, clad in red, Thursday hit the streets to register their opposition to crude oil exploration and salt mining in the Keta Basin of the Volta Region. The demonstrators, including the aged, some supported by walking aids, bearing placards, sang and danced …

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Ministry of Energy intervenes in GCMC impasse

The Ministry of Energy says it is working with the State Enterprises Commission (SEC) to address the impasse at the Ghana Cylinder Manufacturing Company (GCMC) Limited. It said it was the considered view of the Ministry that due to the nature of the impasses and the fact that the Board …

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ACEP calls for Mineral Revenue Management Law

The African Centre for Energy Policy (ACEP) has call for the passage of a mineral revenue management law to guide the disbursement and utilisation of revenues in the mining sector. Mr Benjamin Boakye, the Executive Director of ACEP said over the period that the country had been mining; there was …

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GOIL pays GH¢1.1b in taxes and levies to government

The nation’s foremost indigenous Oil Marketing Company (OMC), Ghana Oil Company Limited (GOIL) had paid a total sum of GH¢1.128 billion, which comprises taxes and levies to the government during the year 2017. In spite of making lower than expected volume of sales, the GOIL Group’s financial results were impressive …

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GOIL holds 49th Annual General Meeting

Ghana Oil Company Limited (GOIL) the nation’s foremost indigenous Oil Marketing Company (OMC), on Wednesday held the 49th Annual General Meeting in Accra. An independent Auditor, Frederick Bruce-Tagoe on behalf of PKF Chartered Accountants who audited the GOIL 2017 accounts affirmed that the company kept proper books of account. The …

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GOIL share price takes upward trajectory  

The share price of the nation’s foremost indigenous Oil Marketing Company, Ghana Oil Company Limited (GOIL) has taken an upward trajectory as it has moved from GH¢1.1 December 28, 2016 to GH¢10 as at April 2018. These indicators, a Stock Market Expert told the Ghana News Agency in an interview …

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