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Oil & Gas

Ghana pushes upstream oil production prospects

  Ghana has pushed upstream prospects in oil production, Mr Theo Ahwireng, Acting Chief Executive of the Petroleum Commission has said. “Considering the impact of the depressed oil prices on project cuts in the industry, it is without doubt that Ghana has come out strong with its key projects such …

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OMCs review fuel prices downward

Oil Marketing Companies (OMC) have reduced the retail prices of petroleum products at the Mid-October review period pegging Super between GH¢2.859 and GH¢2.820 whilst the prices of diesel is fixed between GH¢2.769 and GH¢2.720. Engen Ghana Limited has pegged the price at GH¢2.820 per litre for Super and GH¢2.730 per …

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GOIL absorbs subsidy on fuel prices – MD

Ghana Oil Company Limited (GOIL), the only indigenous downstream oil marketing company in the country has absorbed over GH¢0.638 per litre on Super and GH¢0.639 per litre on Diesel since the inception of the deregulation regime in June. Prices of petroleum products at GOIL’s filling stations across the country has …

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Ghana committed to building oil and gas industry – Minister

Mr. Emmanuel Armah-Kofi Buah, the Minister of Energy and Petroleum, has said Ghana would relentlessly grow its oil reserves in order to ramp up and sustain oil and gas production. Speaking at the Ministry’s turn at the Meet the Press forum in Accra, he said in order to build an …

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Don’t hide truth about energy crisis – K. B. Asante tells government

A Ghanaian Statesman and retired Diplomat, Mr. Kwaku Baprui (K.B) Asante,  has urged Government not to be afraid  to tell Ghanaians, if the country did not have the money to pay for oil or gas to generate electricity. His comments came at a time that Nigeria Gas (N-Gas), operators of the West African Gas …

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VRA owes WAPCo $181m for gas supply

Mr Walter Perez, Managing Director of West African Gas Pipeline Company (WAPCo), said the Volta River Authority (VRA) has received gas and pipeline-related transportation service totaling $231 million. He said out of the said amount, the VRA has paid only $ 50 million with an outstanding balance of $181 million. …

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BOST to export petroleum products – MD

The Bulk Oil Storage and Transportation (BOST) Company Limited is to export petroleum products to neighbouring countries of Burkina Faso, Niger and Mali. The Managing Director (MD) of the Company, Mr Kingsley Kwame Awuah, who disclosed this during the re-commissioning of the Bolgatanga Fuel Storage and Distribution Depot on Monday, …

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Premix Fuel subsidy will continue despite deregulation – Mahama

President John Dramani Mahama has said despite the deregulation of petroleum products across the country, Government would continue to subsidize premix fuel for fishermen. Government had stopped subsidizing petroleum products through the introduction of its deregulation policy which allows petroleum companies to sell the product without any government interference. However, …

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Close down Saltpond Oil Field – PIAC

The Public Interest and Accountability Committee (PIAC) has reiterated that the continuous operation of the Saltpond Oil Field against the backdrop of dwindling production is not economically viable and therefore Government should consider closing it down. According to the Committee, the woes of the Oil field are likely to worsen …

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GNPC urges West African countries to focus on economic diversification

The Ghana National Petroleum Corporation (GNPC) has urged West African countries to focus on economic diversification, which will ensure real growth in other non-oil sectors. Mr Alexander Kofi-Mensah Mould, acting Chief Executive, GNPC, observed that most oil provinces in Africa experience a migration of skilled labour and talent to the …

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