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Oil & Gas

ECOWAS to develop robust energy market

The Economic Community of West African States (ECOWAS) Centre for Renewable Energy and Energy Efficiency with its agencies and partners are to develop a robust regional energy market. The Energy market is to increase access to modern and sustainable energy services in West Africa. Dr Morlaye Bangoura, the ECOWAS Commissioner …

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Dangote aims at oil and gas with $16b refinery

Dangote Group of Companies, renowned in the production and distribution of cement in the West African sub-region are now wading into the oil and gas sector and is envisaged to have the largest oil refinery company in Africa The $16 billion world class refinery/ Petrochemical complex comprise a refinery, petrochemical …

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Gas supply disruption could deepen VRA’s debt repayment woes – Minister

The continuous disruption of gas supply to the Volta River Authority (VRA) could further hamper ability of the main power generator and supplier to pay its mounting debts, says Mr Emmanuel Armah-Kofi Buah, Minister of Petroleum. Gas suppliers and transporters to Ghana have, therefore, been impressed upon to exercise patience …

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Ghana to acquire third FPSO soon costing $1.2b

Ghana is preparing to acquire a third Floating Production Storage Offloading (FPSO) vessel to receive lean gas from the Sankofa Gye-Nyame (OCTP) Oil Field, Mr Emmanuel Armah-Kofi Buah, Petroleum Minister has announced. The new FPSO, which is more than 80 per cent complete in Singapore would be operating from the …

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Be accountable in the management of revenue – Dr Manteaw

Dr. Steve Manteaw, co-Chairman of Ghana Extractive Industries Transparency Initiative (GHEITI) has called for governments to be accountable to their peoples in the management of revenues from the extractive industry. They should commit to high standards of transparency and accountability to bring optimal benefits to the population. He was speaking …

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Deputy Minister pledges transparency in oil money spending

Deputy Finance Minister, Mrs. Mona Quartey, has repeated the government’s unwavering commitment to ensure transparency in the spending of the oil and gas revenue to propel the growth of the economy and fight poverty. She indicated that it would do everything to make the extractive industry more beneficial to the …

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Sankofa Gas field faces major delay in production target

Yesterday September 22, 2016, the Ghana government, its partners, and the World Bank signed an agreement to provide guarantees totaling $700 million for the Sankofa Gas Project, but despite the euphoria that greeted the signing ceremony, one major delay for timely gas production still remains. The Ghana National Petroleum Corporation …

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CSOs urged to engage government on usage of oil revenue

Major Daniel Ablorh Quarcoo (Rtd), the former Chairman of Public Interest Accountability Committee (PIAC) has urged civil society organisations (CSOs) to seriously engage government in discussions over the usage of the oil revenue. He said professional groups, traditional and religious groups and other pressure groups need to effectively debate government …

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Ghana accrues $3.208b from oil in four years

Ghana had total annual petroleum receipts of $ 3.208 billion from  2011- 2015. But from 2010-2015, it produced 161,797,171barrels of crude oil, Mr Roland Affail Monney, the President of the Ghana Journalists Association and a member of the Public Interest and Accountability Committee (PIAC) had said. Mr Monney was speaking at a …

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Cut down on petroleum revenue supported projects – PIAC

The Public Interest and Accountability Committee (PIAC) has called for substantial cut down on projects implemented with the annual budget funding amount (ABFA) from the petroleum revenue. Professor Paul Kingsley Buah-Bassuah, Chairman of the Committee, asked that the government identified few legacy projects that should be supported. The spread of …

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