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Oil & Gas

Audit finds $310.34m yet to be paid into Ghana Petroleum Holding Fund

An audit conducted by the Auditor-General on the management of the country’s Petroleum Holding Fund shows that an amount of $310.34 million was yet to be paid into the Fund as at December 31, 2018. Of the total amount, $308.77 million represented an amount due from the Ghana National Gas …

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LPG from Atuabo not contaminated – Ghana Gas Company

The Ghana National Gas Company Limited has refuted claims that the Liquified Petroleum Gas (LPG) being produced from its Atuabo Gas Plant is too high in propane, contaminated, and of low quality. This follows a statement made by Mr Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), …

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Tullow Ghana announces leadership changes as Awotwi retires June end

Mr Kweku Awotwi, the Managing Director of Tullow Ghana, and Executive Vice President of Tullow Oil plc, will retire from the company on 30th June. In a statement Tullow Ghana said Mr Awotwi will hand over his responsibilities to Wissam Al Monthiry who becomes Managing Director, Tullow Ghana, and Cynthia …

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Help TOR acquire crude stock, TDCL appeals to President

The Tema District Council of Labour (TDCL) has appealed to the President to urgently help the Tema Oil Refinery (TOR) to acquire enough crude stock to operate with. The TDCL said government must urgently help the only refinery in the country to take advantage of the drastic drop in crude …

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Government withdraws imposition of LPG Cylinder Recovery Levy

Government has withdrawn the 13.5 pesewas Cylinder Recovery Levy imposed by the National Petroleum Authority (NPA) on liquefied petroleum gas (LPG) with immediate effect. The NPA on Wednesday, April 1, 2020 directed liquefied petroleum gas marketing companies and industry players to charge 13.5 pesewas on each kilogramme of LPG. The …

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TOR MD, Asante Berko resigns after SEC corruption charge

Asante K. Berko, the Managing Managing of the Tema Oil Refinery (TOR) has resigned, two days after the US Securities and Exchange Commission (SEC) charged him in a New York court for violating the US Foreign Corrupt Practice Act (FCPA). Berko who was appointed MD of the country’s only oil …

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PIAC calls on government to reduce 2020 ABFA expenditure

The Public Interest and Accountability Committee (PIAC) has called on the government to review and reduce the planned 2020 Annual Budget Funding Amount (ABFA) expenditure and apply the savings to the COVID-19 Alleviation Programme. The Committee has recommended to the government to explore other domestic revenue sources such as cocoa …

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Cylinder Recovery Margin will not increase LPG prices – NPA

The National Petroleum Authority (NPA) has said the introduction of the GH¢13.5 Cylinder Recovery Margin, which took effect on April 1, 2020, will not increase the product price of Liquefied Petroleum Gas at the pumps as being speculated by the Oil Marketing Companies. “We wish to state categorically that, contrary …

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CSOs ask government to reconsider use of Heritage fund

Three Civil Society Organisations in the extractive sector have called on the government to seek alternative financial sources to deal with the COVID 19 pandemic instead of taking monies from the Heritage fund. “We are deeply worried about some radical proposals which, if carried through, would have serious implications on …

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Withdraw Cylinder Recovery Levy now – Association

LPG Marketing Companies Association of Ghana has called for the immediate withdrawal of the new Cylinder Recovery Levy introduced by the National Petroleum Authority (NPA). The NPA on April 2 introduced the Cylinder Recovery Levy by charging 13.5 pesewas on each kilogramme of LPG. NPA in a statement said the …

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