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Oil And Gas

Power cuts still on despite Energy Minister’s assurances

agyarko proper

Consumers of electricity are still bearing the brunt of power cuts despite claims that the situation has since normalized. Power supply was cut to some parts of the Greater Accra region yesterday [Sunday]. The development is in sharp contrast with assertions by the Energy Minister, Boakye Agyarko of a stable power supply effective last Saturday [February 25th, 2017]. His assurance ...

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Listing GRIDCo on stock market: Managers discredit Kwabena Donkor’s claims

gridco

Managers of the Ghana Stock Exchange (GSE) have discredited claims by former Power Minister, Dr. Kwabena Donkor indicating his pessimism of the prospects of listing the Ghana Grid Company Limited (GRIDCo) on the stock exchange. According to the Managing Director of the GSE, Kofi Yamoah, the decision is a laudable one and should be supported by all stakeholders. Dr. Kwabena ...

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GOIL dismisses ‘change of CEO report’

Managing Director of Goil Ghana, Mr. Patrick Akorli

Indigenous Oil Marketing Company, GOIL has dismissed reports indicating that Presdent Akufo-Addo has appointed one Mr. Osei Prempeh as its new CEO. According to a press statement signed by GOIL’s Board Chairman, Prof. William Asumaning, the company is listed on the Ghana Stock Exchange(GSE), hence has procedures in appointing its head, which must comply with regulations set by the GSE. ...

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Power supply will stabilise from today – Energy Minister

Boakye Agyarko - Energy Minister

Energy Minister, Boakye Agyarko has assured consumers of stable power supply effective today evening. The assurance follows what he says is the completion of works for the interconnection between the Tweneboa, Enyera, Ntomme (TEN) fields and the Jubilee Field for gas exportation to the Ghana Gas Company. According to the Minister, the intermittent power cuts were largely as a result ...

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OMCs demand ease of registering businesses

WhatsApp Image 2017-02-23 at 08.50.31

Some Oil Marketing Companies (OMCs) are advocating for all processes in registering their businesses to be streamlined. The petroleum distribution companies believe the current practice delays the process which makes it unattractive for the business to expand and promote competition. Though the Managing Director of Petroleum Limited, Emmanuel Pobee admits of some initial constraints in meeting this objective, he explains ...

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ACEP pushes for a transparent petroleum sector under NPP

BENJAMIN-BOAKYE-ACEP-600x330

The African Centre for Energy Policy (ACEP), has impressed on the NPP government to pursue processes to enact regulations to guide the effective implementation of the Petroleum Exploration and Production (E&P) law. The Centre believes the regulations should intensify the call for transparency and value for money in the petroleum sector. The energy think tank also wants government to review ...

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No need for energy levy cuts due to US$ 2.4bn debt- IECP

Industry Electricity

Despite assurances from President Akufo Addo to grant some tax cuts in the power sector, the Institute of Energy and Climate Change Policy (IECP) has cautioned that any attempt to review the energy sector levy downwards may cause a power crisis due to the huge debts crippling the sector. President Akufo-Addo during his maiden State of the Nation Address disclosed ...

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Listing VRA & GRIDCO: Analysts urge due diligence

Dr. Steve Manteaw

Some analysts in the energy sector have cautioned of long term costs to government should it rush through the process to list the Volta River Authority (VRA) and the Ghana Grid Company Limited (GRIDCO) on the Ghana Stock Exchange (GSE). Though they contend of the benefits in restructuring the operations of the institutions, the analysts fear of a potential dip ...

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We’ll cancel some power contracts if necessary – Nana Addo

Nana-Akufo-Addo-in Parliament-620x330

Government is set to conduct an audit of all Power Purchase Agreements (PPA) signed between the Electricity Company of Ghana(ECG) and Independent Power Producers(IPPs) under the erstwhile National Democratic Congress (NDC) government, President Nana Akufo-Addo has hinted. According to him, the erstwhile John Mahama government had signed 43 PPAs, while a further 23 were under discussion. Delivering his first State ...

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COPEC discredits fuel price increase report

fuel

The Chamber of Petroleum Consumers(COPEC) has discredited reports that fuel prices will go up this week. The Institute of Energy Security (IES) predicted a 3 percent increase in fuel prices for the 2nd pricing window. Checks by Citi business News also indicates that fuel prices at Total and Shell fuel pumps have gone up as at yesterday. Total, which was ...

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