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Oil & Gas

Ghana urged to put Heritage Fund to fruitful use

The Heritage Fund should be utilised as a creditor to areas of the economy where there are opportunities for growth and profitability. Mr David Selorm Adikah, the Business Development Manager of Liberty Assets Management Limited, who made the suggestion, on Thursday, said Ghana would make a grave mistake should it make …

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Government committed to full local content in oil and gas

Ms Agatha Armah, a Senior Staffer, Local Content Unit, Petroleum Commission, has said the country is not reneging on its focus at full local content involvement in the oil and gas industry. “The local content fostering in the sector is being pushed through the catering service sector, employment of Ghanaians, …

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BOST dispels speculation about fuel shortage

The Unionized Workers of Bulk Oil Storage and Transportation Company Limited (BOST) on Fridayassured the nation that “its storage tanks across the country are filled to capacity and no course for fear of fuel shortage”. The Unionized workers through the General Transport, Petroleum and Chemical Workers Union (GTPCWU) in a statement …

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GOIL reduces fuel prices marginally

The Ghana Oil Company Limited (GOIL) the nation’s foremost indigenous Oil Marketing Company GOIL, has reduced its ex-pump prices of petroleum products in the second window of the month of March. A statement released in Accra said GOIL which prides itself as the Chartered Institute of Marketing Ghana’s (CIMG) Petroleum …

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Vice-President calls for energy combination towards Africa’s development

Vice-President Dr Alhaji Mahamudu Bawumia has called for the combination of resources and energy for Africa to become developed economically and self-dependent. He said the issues of building self sustaining independent economy was key for all and could not be done individually and called for stakeholders including the citizenry coming …

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Quantum Power breaks ground for LNG import terminal

Quantum Power, a Pan-African energy infrastructure investment platform, has the cut sod for the construction of a Liquefied Natural Gas (LNG) terminal in Tema. The project is a Public Private Partnership (PPP) between Quantum Power and the Ghana National Petroleum Corporation (GNPC) with support from the Government. The Tema LNG …

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Ghana estimates $515m petroleum revenue for 2017

Ghana expects to earn an estimated $515 million from petroleum in 2017, the Minister of Finance, Ken Ofori-Atta has said in his first Budget Statement to Parliament today March 2, 2017. Since the commercial production of oil started in Ghana in December 2010, the country’s economy has become heavily dependent …

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Appoint competent CEO for Ghana Gas – Nzema Youth

The Nzema Youth Association (NYA) has called on President Nana Addo Dankwa Akufo- Addo to appoint a competent and an experienced Chief Executive Officer for the Ghana National Gas Company (GNGC). The Association has expressed worry about the false responses by some groups purported to be lobbyists for Dr Ben …

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Erin Energy announces $100m facility with Mauritius bank

Houston, Texas headquartered Erin Energy Corporation says it has entered a three-year secured Pre-Export Finance Facility Agreement with The Mauritius Commercial Bank Limited. Erin Energy has an exploration license in Ghana. According to Erin Energy, the Facility provides for a total commitment of $100 million and bears an interest rate …

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VRA, ECG, GRIDCO allay fears over impending ‘dumsor’

Stakeholders in the power sector have put in adequate measures to mitigate the impact of the shortfall in power production arising from the planned shutdown of the Ghana National Gas Company (GNGC) for maintenance. A joint statement issued by the Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCO) and …

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