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Oil & Gas

Keep multinationals out of oil retail business – analysts

Dr Isaac Amo-Antwi, a Takoradi based Social Worker and an economics expert has cautioned that it is dangerous for multinational oil companies to be allowed to enter the downstream sector of the country’s oil industry. He said there were various levels in the chain of operations in the oil marketing …

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GNPC supports construction of sickle cell centre with $4.5 m

The Ghana National Petroleum Corporation (GNPC) has presented a cheque for $4.5 million to the Sickle Cell Foundation towards the construction of a centre of excellence for treatment and research on the disease. A statement issued by the Corporate Affairs Department of the GNPC, said the corporation took the decision …

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Ghana government asked to invest oil revenue in education

The Africa Centre for Energy Policy (ACEP), a policy think tank, has advised the Government to invest part of the oil revenue in Agriculture, Education and Health to ensure effective economic growth and development. Dr. Ishmael Ackah, the Head of Policy Unit of ACEP, who made the call at a …

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Micoperi and Quantum Power now to construct LNG facility for GNPC

Micoperi and Quantum Power have reached an agreement on the Engineering, Procurement and Construction (EPC) for the Tema liquefied natural gas (LNG) import, storage, regasification and delivery facility. The Tema LNG Facility would provide the Ghana National Petroleum Corporation (GNPC), in its capacity as National Gas Aggregator, with the ability to secure competitively …

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Energy Ministry alone causes GH¢1.7b loss to the state

Ghana lost GH¢1,803,646,727 as a result of financial errors and irregularities committed by public boards, corporations and other statutory institutions. The loss, according to the Auditor-General’s Report for the 2014 fiscal year, arose out of the breakdown of internal controls. The loss, according to the report, occurred between January 1 …

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Ministry of Finance presents vehicle to PIAC

The Ministry of Finance (MOF) has presented a vehicle to the Public Interest and Accountability Committee (PIAC) at a short ceremony held at the forecourt of the Ministry. The presentation of the 4×4 Toyota Land Cruiser was done by Mrs Mona Quartey, Deputy Minister of Finance and received on behalf …

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Ghana to become petroleum distribution hub – Mahama

The Government is working around the clock to soon position Ghana as an oil and gas distribution hub, President John Dramani Mahama has announced. He said the huge demand for oil and gas for development and industrialisation was growing by the day, therefore, stepping up expertise in that sector would …

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Tullow Ghana to shut down FPSO Kwame Nkrumah

The Jubilee partners led by Tullow Ghana Limited, operator of the Jubilee Field, has announced a 14-day planned shutdown of the FPSO Kwame Nkrumah to undertake maintenance on vital equipment for enhanced safety and guarantee standards. The FPSO Kwame Nkrumah is a floating production storage and offloading (FPSO) vessel and …

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FPSO Professor John Evans Atta Mills arrives in Ghana

The FPSO Professor John Evans Atta Mills, a Floating Production Storage Offloading vessel, which will produce and store oil from Ghana’s Tweneboa-Ntomme-Enyenra (TEN) offshore oil fields, arrived in Ghanaian waters on Wednesday March 2, 2016. The vessel, which was constructed in Singapore and named by Her Excellency the First Lady, …

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Energy price volatility is biggest risk to business in Ghana – WEF

Economic shocks from fluctuations in energy price, is considered the biggest risk for doing business in Ghana over the next decade, according to the Global Risk Report 2016: an expert survey by the World Economic Forum (WEF). Polled on a range of 28 risks, the WEF’s multi-stakeholder community of experts …

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