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Oil & Gas

Ghana’s domestic gas critical to economic growth – Kosmos

Mr Philip Liverpool, Commercial Director for Kosmos Energy, has noted the need for the sustenance of  the country’s domestic gas production through existing discoveries, new exploration and reliable imports. He said it is paramount to support economic growth and prosperity. He called for a multi-tier approach to meeting the country’s …

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Ghana produces more than 124 million barrels of oil since 2010

Ghana began commercial oil production in December 2010, after oil was found in commercial quantity in 2007. As at 2014 the country has produced more then 124 million barrels of oil. The Public Interest and Accountability Committee (PIAC), announced today September 22, 2015 that total production of oil since 2010 …

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Petroleum revenues for 2014 not utilized effectively – PIAC

Ghana’s petroleum revenues for 2014 were not maximized and utilized effectively, according to a report by the Public Interest and Accountability Committee (PIAC) . According to the committee, which is mandated by law to oversee management of petroleum revenues, the revenues were spread over a wide range of projects, diluting …

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Farmers decry scanty compensations for oil and gas projects

Farmers in the six coastal districts in the Western Region whose farms were seized for oil and gas projects have complained about inadequate compensation package received from oil and gas companies operating in the catchment area. They bemoaned low compensation package recommended by officials of Land Valuation Division of the …

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Downturn in offshore drilling industry to continue – Moody’s

Moody’s Investors Service says the downturn in the offshore contract drilling industry is expected to continue, and would weaken the credit quality of offshore drillers through 2017, due to low oil prices and a persistent oversupply of rigs, the agency said in an email to ghanabusinessnews.com. The rating agency’s report …

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Concentrate petroleum revenue on few key sectors of the economy – IMANI

The Think Tank IMANI Centre for Policy and Education has suggested that the budgetary allocations from petroleum revenues should be concentrated within only a few priority socioeconomic areas to maximize impact. The Think Tank believes that petroleum revenues are being used over too many sectors. “The success stories of resource-endowed …

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Tullow reiterates sustainable growth in Ghana oil and gas sector

Mr Charles Darku, the General Manager of Tullow Ghana Limited (TGL), has reiterated that the aim of the company to bring a long lasting sustainable growth to the oil and gas sector and the Ghanaian economy remains unchanged. He said beside the support the company provided annually through the Tullow …

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SMEs in oil and gas urged to abide by international standards

Mr Jonathan Mensah, Health, Safety, Environment and Quality Consultant, has called on small and medium enterprises (SMEs) doing businesses in the oil and gas industry to be abreast of details in international standards in executing jobs. He said the oil and gas industry is a sophisticated area which calls for …

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Ghana government asked to allocate more oil revenue to education

The Africa Centre for Energy Policy (ACEP), has called on government to allocate enough money from the oil revenue to education to ensure national development. The Centre said education plays a key role in nation building and that financing the venture would help address challenges of socio-economic disparities in access …

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Ghana Gas to engage local communities around gas pipelines

Ghana National Gas Company says it would continue to engage with residents living along its gas pipelines to protect the facility. Dr George Sipa Adjah Yankey, Chief Executive Officer of the GNGC, made this known during a two-day retreat organised by the Western Regional House of Chiefs in Benyin in the …

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