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Oil & Gas

Tullow Oil makes $270m in insurance compensation for damage caused FPSO turret bearing

Tullow oil Ghana Limited has received $220 million from insurers as compensation for the damaged turret bearing that hangs on the Floating Production Storage Offloading Vessel (FPSO). This is part of a sum of $270 million that the Lead Partner has requested from the Insurer. Tullow, according to the Managing …

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ITLOS to deliver judgment in Ghana-Cote d’Ivoire oil boundary dispute next month  

There is uncertainty in Ghana and Ivory Coast as the International Tribunal on the Law of the Sea (ITLOS) prepares to deliver its judgment in the disputed oil rich oceanic boundary case between the two countries. The ITLOS decision is expected in September 2017 and Ghana’s oil reserves could increase …

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Petroleum Commission Board inaugurated

Mr Boakye Kyeremanteng Agyarko, the Minister of Energy, has called on the Petroleum Commission to  facilitate the development of upstream petroleum regulations in its bid to ensure compliance of national laws and agreements relating to petroleum activities. The upstream sector refers to the effective management of the oil and gas resources as well as …

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Ghana secures gas supply agreement from Equatorial Guinea

Ghana has signed a Heads of State Agreement with Equatorial Guinea for the supply of 150 million to 200 million standard cubic feet of Liquefied Natural Gas (LNG) per day. The agreement was secured during President Nana Addo Dankwa Akufo-Addo’s three-day official visit to that country. The move forms part …

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Tullow Oil assures local businesses of some upturn in trade

Mr. Charles Darku, the Managing Director of Tullow Ghana limited says local businesses would once more see some revival soon. According to him, despite the numerous business hiccups with regards to oil production, price drops has had bearing on local industries. He said the company had put in place total …

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Energy Minister expresses concern over GNPC guarantees

Mr Boakye Kyeremateng Agyarko, Minister of Energy has expressed concern over certain practices in the past where GNPC was used as the cash-cow to support other government entities. According to him it was not a healthy practice because the comingling of assets from different entities raises certain contingent liabilities that …

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Oil money will be used to fund free SHS – President

President Nana Addo Dankwa Akufo-Addo has stated that the proceeds from the Ghana’s oil would be channeled into the funding of the Free Senior High School (SHS) Programme when it takes off next academic year. He stated that so long as he remained as the President, funds from the oil …

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President calls for proper maintenance plan for Atuabo Gas Plant

President Nana Addo Dankwa Akufo-Addo  has called on the management of the Atuabo Gas Plant to put in place proper maintenance plans to help the plant serve its purpose for the benefit of the present and future generation. He said the future of the country’s economy largely depended on the …

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Natural gas is key to addressing Ghana’s energy needs – GNPC

The Ghana National Petroleum Corporation (GNPC) has urged the Government to use natural gas in addressing the mounting energy needs of the country. Dr Kofi Koduah Sarpong, the Chief Executive Officer (CEO) of the GNPC, said natural gas for power production was the right decision that government could take to …

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Ghana Gas committed to implementing Local Content Policy

Dr Ben Asante, the Chief Executive Officer (CEO) of Ghana Gas, has said more indigenes from the Western Region would be offered employment in the gas sector in fulfillment of the Local Content Policy. He said it has, therefore, become imperative to collaborate with the traditional authorities to chart a …

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