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Oil & Gas

Mahama to turn-on valve on FPSO Atta Mills for start of production at TEN

President John Dramani Mahama will on Thursday August 18, 2016, symbolically turn-on the production valve on the Floating Production Storage and Offloading Vessel (FPSO) John Evans Atta Mills to officially commence production of oil in commercial quantities at the Tweneboa, Enyenra and Ntomme (TEN) Fields. A statement from the Ministry …

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Low oil production causes Kosmos Energy net loss of $108m

Due to low oil production, Kosmos Energy, one of the oil companies operating at Ghana’s Jubilee fields has announced a net loss of $108.3 million for the second quarter of 2016. The company sold one cargo of oil in 2016 as against two cargoes the same period in 2016. On …

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GNPC appoints two deputy CEOs

The Board of Directors of the Ghana National Petroleum Corporation (GNPC) has appointed two Deputy Chief Executives for Exploration and Production and Commercial and Corporate Services. A statement, issued by GNPC and copied to the Ghana News Agency, said the appointments were part of the continuous roll-out of GNPC’s evolving …

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Stakeholders call for regular feedback on petroleum revenues

Stakeholders at a forum to discuss petroleum revenue have called for regular feedback on the utilisation of the funds to eliminate the perceived corruption and misappropriation. The forum, organised by Friends of the Nation (FON), an environmental NGO, brought participants from various youth groups, assembly members and traditional rulers, as …

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Nigeria loses $69.8b from under invoicing of oil exports

Nigeria was yet to overcome the shock arising from the on-going probe of corruption in its oil industry when the United Nations Conference on Trade and Development (UNCTAD) divulged the massive fraud arising from under-invoicing of crude oil exports from Nigeria to the United States. In just 18 years, Nigeria, …

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Local content: Ghanaian companies earn $1.3b in contracts in five years

From 2003-2016, Ghana had increased the deployment of indigenous professionals in the petroleum industry, under the Local Content and Local Participation Policy. Out of the 675 registered companies; 440 are Ghanaian companies registered with Petroleum Commission, Ghana to provide both direct and indirect services, whilst 66 others are engaged in …

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MP’s divided on changes in new Petroleum Bill

A clause in the Petroleum Exploration Bill, 2016, that is undergoing a second reading in Parliament has spawned differences among legislators on the boundless authority granted a Petroleum Minister. Clause 10, subsection (4) states that the Petroleum minister could decide not to enter into a petroleum agreement after the tender …

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Union calls for transparency in energy levy management

The government has been asked to ensure that there is transparency and accountability in the management of the energy levy. The Public Utilities Workers’ Union (PUWU) suggested the opening of a special account into which proceeds from the levy would be lodged. The Union at its 11th quadrennial delegates’ conference …

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Underrepresentation of women on oil and gas boards is a concern

Growing women’s underrepresentation in governing boards of Ghana’s oil and gas institutions has triggered concern over the deteriorating gender inequality in the sector. Government has signed many conventions including the elimination of all forms of discrimination against women, the Benjin platforms for action and  United  Nation  declaration  on  the  elimination  of violence against women. …

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NPA embarks on education on handling of petroleum products

The National Petroleum Authority (NPA), has embarked on a campaign to educate the public on the need to handle petroleum products with care in order to avoid accidents. Mr Yaro Kasambata, the Public Relations Manager (PRM) of the NPA said the institution is worried about the fire out breaks caused …

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