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Oil & Gas

Ghana Gas attributes power outages to tie-in of pipeline system

The Government has attributed the recent intermittent power outages experienced by domestic and commercial power consumers to the total shutdown of the Ghana Gas pipeline system to ensure effective inter-connection with the West Africa Gas Pipeline Company (WAPCo). The tie-in of the two companies’ systems is to ensure reverse flow …

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South Sudan plans to triple oil production by end of 2019

South Sudan plans to nearly triple daily oil production from the current 350,000 barrels daily to around 1 million barrels daily by end of 2019, a South Sudanese diplomat said on Monday. James Morgan, South Sudan ambassador to Ethiopia and the African Union, said with his country enjoying relative peace …

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Ghana spends more than GH¢790m of oil money on roads – PIAC

Mr Thomas Kojo Stephens, Vice Chairman of the Public Interest and Accountability Committee (PIAC)  has  called  for proper guidelines in the selection of priority areas when it comes to the execution of petroleum fund projects in the country . He also suggested to the government to select four priority areas …

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Cabinet approves new Downstream Petroleum Policy

Cabinet on Thursday, March 14, approved a new Downstream Petroleum Policy framework to ensure a Ghanaian-driven and Ghanaian-owned industry capable of attracting increased local and value-added investments and enhance job opportunities. The policy would also increase indigenous knowledge expertise and technology for the overall benefit of all Ghanaians. Mr Kojo …

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US to become major oil exporter by 2024 – report

The US will become the world’s second major oil exporting country by 2024, overtaking Russia and closing in on Saudi Arabia, the top oil exporter, according to the Paris-based International Energy Agency (IEA). In its latest report on the sector, Oil 2019, the IEA said the US was driving global …

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PIAC calls for efficient use of petroleum revenue

Ms Marilyn Aniwa, the Coordinator of the Public Interest Accountability Committee (PIAC) has called for the sustainable management and efficient utilisation of the Ghana’s petroleum revenues. She noted that the petroleum reserves of a country are non-renewable and therefore it was important for the proper management of proceeds for the …

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Oil industry has reputation for corruption – President

President Nana Addo Dankwa Akufo-Addo, on Thursday said “there is no avoiding the fact that the oil industry, unfortunately, has a reputation for corruption”. He said since the discovery of oil in the country, there had been heightened anxiety among the people that “we do not fall into the same …

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Ghana’s oil production to go up to 500,000 barrels – Minister

Mr Ken Ofori-Atta, the Minister of Finance has said the overall crude oil production from Ghana is expected to more than double over the next four years. “Overall, crude oil production is expected to increase from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023,” he …

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Ghana generated $247m from oil sector in 2016 – GOGIG

The future of Ghana’s oil and gas sector as a catalyst to push socio-economic development looks brighter, though the nation lacks pricing policy for her crude. A pricing policy for crude, according to the Ghana Oil and Gas Inclusive Growth (GOGIG), an UKaid project set up to support the nation …

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PIAC to sign MoU with EOCO

The Public Interest Accountability Committee (PIAC) Secretariat has requested from the Ministry of Finance and Economic Planning (MoFEP) to provide it with information on all physical infrastructural projects it intends to fund with petroleum revenue in the country this year. This according to the PIAC, an independent statutory body mandated …

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