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Oil & Gas

Ghana Gas Company to start supplies to Karpowership on October 30

All the engineering works, electrical connections and laying of pipelines to power the relocated Karpowership from Tema to the Sekondi Naval Base is 98 percent complete. Ghana Gas company limited would within the next few days push its first gas from the Atuabo Gas Processing to the powership  by the …

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Oil Marketing Companies say they contributed GH¢3b by mid-year to Ghana’s economy

Mr Henry Akwaboah, Managing Director, Engen Ghana Limited has touted the contributions of Oil Marketing Companies (OMCs) to the Ghanaian economy, which hit about three GH¢3 billion by the close of June 2019. He said on the average, the OMCs through taxes paid to government GH¢500,000, which impacted on the …

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Oil marketing companies complain of dwindling margins due to deregulation exercise

Mr Joseph Addae, the General Manager of Radiance Petroleum, has expressed concern about the dwindling margins of Oil Marketing Companies (OMCs) due to intense competition as a result of the deregulation exercise. He said it was very difficult for them to break even, indicating that, initially government was subsiding the …

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Ghanaian company begins drilling in WCTP block 2

Springfield Exploration and Production Limited (SEP), an Independent Ghanaian energy company drilling in Deepwater offshore Ghana, on Monday October 7th spudded its Afina-1x well in the West Cape Three Points Block 2. This is the first time an independent energy company in Africa is accomplishing such a feat and places …

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OMC group says oil companies pay about GH¢6b in taxes annually

The Association of Oil Marketing Companies (AOMCs) says oil companies pay about GH¢6 billion annually to government as tax. He said in 2019, they paid GH¢500 million as monthly tax to government, raking in a total of GH¢3 billion in the first two quarters of the year. Mr Agyeman-Dua, who …

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Weak local content policies cause of low participation in petroleum sector

Dr. Steve Manteaw, chairman of  the Public Interest and Accountability Committee (PIAC) has reiterated that the weaknesses in local content policies in the natural resource sector is cause for low participation of Ghanaians in the oil and gas industry. He said policies governing the sector since its implementation six years …

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Ghana asked to put measures in place to sustain oil production

Ghana has been urged to put measures in place to sustain oil production, as the current state of affairs, if left unchanged, would limit production just for the next nine years. Professor Omowumi Iledare, the Ghana National Petroleum Commission (GNPC) Professional Chair of Petroleum Economics at the Institute for Oil …

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Tullow focuses more on Africa as part of new vision

Tullow is focusing more on Africa in its broader and new vision of ensuring sustainability and progress in its operations. Mrs Cynthia Lumor, the Director of External Affairs at Tullow Ghana, said the company recognised the important role stakeholder engagements played in doing good business in Africa and Ghana in …

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Ghana government urged to improve local content to expand oil industrial sector  

Government have been urged to strengthen its local content policies to facilitate the expansion of the oil and gas and industrial sectors for sustainable national economy. Professor Omowumi Iledare, the Ghana National Petroleum Commission (GNPC) Professional Chair of Petroleum Economics at the Institute for Oil and Gas Studies at the …

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Ghana to host third Annual Africa Oil & Gas Conference

National, regional and international oil and gas industry Local Content Experts will gather in Accra, Ghana, for the third edition of the annual Africa Oil and Gas Local Content Sustainability Conference and Exhibition (ALC2019). The two-day event, which is on the theme, “Shaping the Future through Sustainable Local Content Policies”, …

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