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Oil & Gas

Ghana says it issued bonds, stocks to pay TOR debt

Dr Kwabena Duffuor, Minister of Finance and Economic Planning, on Thursday said government issued a three-year bond for GH¢445.0 million in March 2010 for the partial settlement of the GH¢1 billion debt the Tema Oil Refinery owed Ghana Commercial Bank (GCB) in 2009. He said in April 2011, government again …

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Community takes measures to prevent encroachment on lands due to oil find

Shama, a fishing town in the Western Region, is putting in place modalities to prevent encroachment as a result of the oil find in the Western Region. The Shama District Assembly (SDA) in collaboration with the “Hen Mpoano Initiative” and assistance from the major operators of the Jubilee Partners, is, …

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Some 1500 jobs created in oil and gas sector, 57% Ghanaians – Minister

Available records indicate that about 1500 jobs have been created in the oil and gas sector and out of this number, about 840, representing about 57 per cent are Ghanaians. The exact number of people from the Western region employed in the sector is not known as the information gathering …

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Group cautions Ghana on removal of fuel subsidies proposed by IMF

The Integrated Social Development Centre (ISODEC), a civil society organisation, has expressed concern about attempts by the International Monetary Fund (IMF), to foist on the government, a decision to remove subsidies on petroleum products. It says it is also worried about the seeming willingness of the government to embrace such as …

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Total Petroleum Ghana to scale up brand investment to boost market share

Total Petroleum Ghana has said it would continue to invest in its brand to boost market share and ensure that it scaled difficulties in the competitive and challenging petroleum downstream industry. “The company will continue to invest in all segments of its activity, remaining focused on the quality of its …

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Ghana government shown in another violation of Petroleum Revenue Management law

The government of Ghana has been shown in another instance to have violated the country’s Petroleum Revenue Management law. In a press release issued by the Public Interest and Accountability Committee (PIAC), the statutory body established to provide an independent assessment of how petroleum revenues are managed and used as …

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Saltpong Offshore lifts four Ghana cargo crude in 2011 – Energy Ministry

Ministry of Energy said on Tuesday said the Saltpond Offshore Producing Company Limited (SOPCL) is yet to be paid to government surface rental of $605 for 2011. However total royalties of $146,482.37 for 2011 from four liftings by SOPCL was paid into Government of Ghana account Number (02-230600660-00). A statement …

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Ghana Oil outdoors new brand logo

Ghana Oil Company Limited (GOIL) at the weekend outdoored a new brand logo and launched its new re-branded image into the oil marketing industry in the country. The new logo centred around a “G” with wind vanes in various shades of orange rotating in an anti clockwise fashion, seeks to …

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Correction: 900MW Domunli power plants will improve power generation, distribution in Ghana – Energy Minister

Plans are far advanced for the construction of  900 megawatts power plants at Domunli in the Jomoro area of the Western region, the Energy Ministry has said on its website May 18, 2012. This projects when completed, will feed on processed gas from Atuabo to generate electricity, the site indicated. …

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