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Oil & Gas

Ghana sells seven cargo crude oil from Jubilee fields valued at $770m

Ghana has sold seven parcels of crude oil from the Jubilee fields with a net cargo value of $770,744,705.11 since lifting for the first time in March 2011, a report has said. State-owned Ghana National Petroleum Corporation (GNPC) lifted over 995,000 barrels of crude oil during its first lifting. “From …

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Italian Eni signs MoU to develop, commercialise offshore gas in Ghana for domestic market

Italian oil company, Eni together with Swiss-based Vitol, have signed a Memorandum of Understanding (MoU) with the Government of Ghana to develop and commercialise the country’s discovered gas resources offshore. In a statement today August 21, 2012, Eni said the pact was signed with Ghana’s Energy Minister and the Ghana …

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Ghana’s Jubilee fields produce 11.7 million barrels of oil in first half-year of 2012

With an average 62,985.44 barrels of oil per day (bopd) gross, Ghana’s Jubilee fields has produced a total of 11.7 million barrels of oil (bbls)throughout the first half-year of 2012, according to a Bank of Ghana (BoG) report released August 17, 2012. During the period (January 1 – June 30)… …

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Kosmos Energy spends $37m on production, exploration at Jubilee in 2012 second quarter

Kosmos Energy says it has made a $37 million expenditure on production and exploration activities at the Jubilee oil fields during the second quarter of 2012, according to the oil company’s second quarter 2012 results released August 6, 2012. Production expense for the second quarter of 2012 was $20 million …

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Energy Minister presents oil and gas van to KIMTECH

Mr Emmanuel Kofi Buah, Deputy Minister for Energy, has presented an oil and gas pick-up van for capacity building to the Kikam Technical Institute (KIMTECH) in the Ellembelle District to facilitate activities of the Institute. This follows the choice of KIMTECH by the Government to train the required manpower to …

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VRA signs $11.6m deal for Ghana power plant to run on gas, diesel

Ghana’s Volta River Authority (VRA) has signed a contract with Wellhead Power Development LLC to undertake the conversion of the Tema Thermal Power Complex into a dual fuel plant. Valued at $11.6 million, the works, when completed, will enable the power station to run on natural gas from the West …

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Ghana’s Labour Commission says workers complaints since start of oil production on rise

The National Labour Commission (NLC) says since the country started drilling oil in the last quarter of 2010, the number of industrial complaints received from aggrieved workers have increased tremendously, especially from the petroleum sector. The Executive Secretary of the NLC, Mr. Edward Briku-Boadu, said the Commission sometimes received about …

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Ghana to lay comprehensive gas policy in Parliament soon

A Comprehensive gas policy would soon be laid before parliament for approval, to ensure that production and commercialization of gas in large quantities go a long way to address the perennial gas shortages. To this end, the Ghana National Gas Company (GNGC), an agency of the Ministry of Energy, has …

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Ghana Oil Company records GH¢617m turnover

The annual turnover of Ghana Oil Company Limited (GOIL) rose from GH¢514.36 million in 2010 to GH¢617.67 million in 2011, an increase of 30 per cent, Mr Patrick Akorlie, GOIL Managing Director, said at the company’s 43rd Annual General Meeting in Accra. He said dividend payout at GH¢0.014 per share, …

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