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Oil & Gas

New military base for protection of Ghana’s oil resources – Akufo-Addo

Government has signed a contract for the construction of a Forward Operating Base at Nzulebu in the Western region to enable the Ghana Navy to better protect Ghana’s oil resources, President Nana Addo Dankwa Akufo-Addo has said. Additionally, government in conjunction with the Ghana National Petroleum Corporation, have ordered six …

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President directs review of exploratory and petroleum agreements

President Nana Addo Dankwa Akufo-Addo has charged the Energy Ministry to review critically existing oil exploratory activities and petroleum agreements, as the country moves to ensure efficiency and transparency in the management of its oil and gas resources. Such a review, would determine oil fields that are sub-optimal, and possibly …

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Bank of Ghana holds key for reduction in fuel prices – GOIL

The Ghana Oil Company Limited (GOIL) on Monday asserted that the Bank of Ghana holds the key for reduction in the prices of fuel which is on the upper trajectory. Mr. Alex Josiah Adzew, GOIL Chief Operating Officer explained in an interview with the Ghana News Agency in Accra that; …

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Saint Louis Petroleum to build the second largest tank farm in Ghana

The Saint Louis Petroleum Company, a nascent oil and Gas Company, is to construct the second largest tank farm in Ahutuma in the Ahanta West Municipality of the Western Region. The $300 million tank farm when completed, would offer job opportunities to more than 2500 indigenes who are qualified to …

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AfDB gives $1.5m worth of technical assistance to Ghana for energy efficiency

Mr Akinwumi Ayodeji Adesina, the President of the African Development Bank Group, says the Bank has provided technical assistance worth $1.5 million to Ghana towards removing barriers to investment in the renewable energy efficiency. He said Ghana was showing the way towards universal access to energy because she currently had …

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Government can reduce fuel prices – PIAC

Dr Steve Manteaw, Chairman, Public Interest and Accountability Committee (PIAC), has said government could reduce fuel prices following gains made in the 2018 budget projections. “2018 is a good year. Government at the beginning of the year projected petroleum revenue at $57 per barrel but we are currently making $84 …

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Ghana Cylinder Manufacturing Company gets new Board

A new Board was on Friday inaugurated for the Ghana Cylinder Manufacturing Company (GCMC) with a call on members to work in harmony to make the Company a more viable entity. Mr Joseph Cudjoe, the Deputy Minister of Energy, who supervised the inauguration in Accra, urged the members to ensure …

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Energy Commercial Bank launches IPO to raise GH¢340m

Energy Commercial Bank on Tuesday launched its Initial Public Offering (IPO) to raise GH¢340 million from the Ghanaian investing public as the lender prepares to meet the Regulator’s new threshold for capital requirements. The offer for the subscription of over 261 million new shares at GH¢1.30 per share would run …

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Bill will harmonise gas sector regulations – Amin Adam

Ghana is currently drafting a comprehensive Gas Bill that is expected to consolidate gas sector regulations and harmonise the legal regime with the emerging global regulatory landscape, the Deputy Minister of Energy, Mr Amin Adam has said. The Bill, he said, is expected to be finalized and passed within a …

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Bear with government over increasing petroleum product prices – Minister

Mr Mohammed Amin Adam, the Deputy Minister of Energy, has asked Ghanaians to bear with government as it implements measures to address challenges with the current and future petroleum price movements. Speaking at the opening of the fifth Ghana Gas Forum in Accra on Tuesday, on the theme: ‘Driving Ghana’s …

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