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Oil & Gas

Petroleum Minister says damage to FPSO turret serious

The Minister of Petroleum, Mr. Emmanuel Armah-Kofi Buah says the damage to the turret on the Floating Production Storage Offloading (FPSO) Kwame Nkrumah vessel is very serious. He has, therefore, urged those working for its restoration to work diligently and quickly without compromising safety standards to ensure the resumption of …

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NADMO prepares for chemical spillage in Western Region

The Western Regional Office of the National Disaster Management Committee is to organise a simulation exercise along communities where industrial chemicals from the Takoradi port are transported to their destination. These chemicals, often toxic and meant for oil, mining and other industries are transported during the day along the major …

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Minister courts investors to downstream petroleum sector

Mr Emmanuel Armah-Kofi Buah, Minister of Petroleum, has persuaded investors to direct their capital to the country’s downstream oil side, as it beams with huge opportunities after government price liberalisation policy spurred competition. Ghana’s downstream sector, he said, covering refining crude oil, processing and purifying natural gas as well as …

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Oil and gas must give Ghana more than revenue – Yao Graham

The Coordinator of Third World Network-Africa Dr Yao Graham warns that Ghana will not reap the full benefits of its young oil and gas industry if there is no plan beyond the revenue it generates, to make the industry a part of Ghana’s medium and long term development strategy. Speaking …

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Ghana government committed to petroleum sector deregulation – Buah

Mr Armah-Kofi Buah, Minister of Petroleum says government is committed to the path of price deregulation in the petroleum downstream sector, so that the market could determine the prices of products. Speaking at a cocktail to celebrate the launch of Puma Energy Distribution Ghana, he noted that the deregulation process …

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Accra to host 7th oil, gas and power summit

Accra will from April 20 to 21, host the 7th “Ghana Summit – Oil, Gas and Power” – an annual event committed to driving Ghana’s oil, gas and power sectors forward. The summit is continually endorsed and attended by the Ministry of Petroleum, Ministry of Power, Petroleum Commission, Ghana National …

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Ghana issues first onshore oil exploration license

The Swiss African Oil Company, a subsidiary of Swiss African Petroleum AG, and PET Volta Investments, have been awarded a new exploration and production license at the Keta Delta block, in the Volta Region. “The acquisition makes Swiss African Oil and PET Volta the first to explore for oil onshore …

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Ghana launches open data dashboard for extractive industries

The Ghana Extractive Industry Transparency Initiative (GHEITI), in partnership with the Natural Resources Governance Institute (NRGI), has launched an open data dashboard to make data on the extractive industry easily accessible and usable. The dashboard, which was launched alongside the 2014 GHEITI reports on mining and oil and gas, is …

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Ghana earns GH¢1.1b from mining in 2014 – Quartey

Mrs Mona Quartey, Deputy Minister of Finance and Economic Planning, has said the mining and oil and gas sectors have made significant contributions to the economy of Ghana. She said: “total revenues that accrued to government from the mining sector was GH¢1,146,202,977 in 2012, GH¢1,104,047,314 in 2013 and GH¢1,192,692,542 in …

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Ghana government violating Petroleum Revenue Management law

The Government of Ghana appears to be violating Ghana’s Petroleum Revenue Management Act (PRMA), passed by Parliament to guide the utilization of revenues from Ghana’s modest petroleum resources. According to the report on petroleum revenues for the first half of 2015, an amount of $56.69 million was for the first …

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