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Oil & Gas
Ghana loses $4.9b in extractive industry within 38 years
Ghana lost a whopping $4.9 billion through illicit financial flows from 1970 to 2008 in the extractive sector.
According to the Global Financial Integrity Report, this included loss of revenue from resource taxes.
The 2012 budget…
Ghana’s oil revenue not managed efficiently – Report
The exercise of discretionary power by the Minister of Finance in the selection of projects that are financed by oil revenue must be curtailed, Mr Mohammed Amin Adams, Executive Director of Africa Centre for Energy Policy, said on…
FPSO shutdown to cut Ghana oil production to 95,000 barrels – Tullow
Oil production in Ghana has not met high expectations following inconsistency in levels.
In its 2013 half yearly results, issued today July 31, 2013, Tullow Oil says in the second half of 2013 production from the Jubilee field is now…
$60m petroleum depot in Tema undergoing test run
Work on a $60 million petroleum depot in Tema is near completion to facilitate the import and distribution of refined petroleum products to help curb shortages of LPG and fuel on the market.
The depot, initiated by the Fuel Trade Limited…
Ghana Geological Survey Department gets drilling rig for mineral exploration
Alhaji Inusah Fuseini, Minister of Lands and Natural Resources, has commissioned a multi-purpose drilling rig for the Ghana Geological Survey Department to engage in effective mineral exploration.
He said the acquisition of the new…
WAPCo confirms gas flow from Nigeria to Ghana
The West African Gas Pipeline Company (WAPCo) says gas transportation from Nigeria to Ghana and neighbouring countries has resumed.
The operator of the West African Gas Pipeline (WAGP) closed down the gas pipe last year August after the…
Ghana pays Sinopec $188m for work to resume on gas project
The government has, through the Chinese Development Bank (CDB), paid $188 million to Sinopec for continuation of work on the Ghana Gas Infrastructure Development project at Atuabo in the Western Region.
The payment of the tranche by the…
Ghana’s local content law for oil sector goes to Parliament
Almost two and half years since Ghana became an oil producer, the country is now about to discuss a local content law for the petroleum sector.
A press release issued by the Ministry of Energy and Petroleum today, July 12, 2013 says the…
First drilling for oil offshore Accra produces water
The first drilling exercise conducted at a well in the Offshore Accra Contract Area has been very disappointing.
The operators at the area hoped to encounter oil or gas reserves but to their dismay, they found water instead.
According to…
AOMC inducts new oil companies
The Association of Oil Marketing Companies (AOMCs) have inducted eight oil companies into their fold.
This brings the number of AOMCs to 51.
The new members are: Crown Petroleum Ghana Limited, EV Oil Company Limited, Joekona Company…