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Oil And Gas

Resist pressure for illegal siting of fuel stations – Prof. Frimpong Boateng

Prof Frimpong Boateng - Minister of Env't, Science, Tech & Innovation

The Minister of Environment, Science, Technology and Innovation (MESTI), Professor Kwabena Frimpong Boateng, has advised the Environmental Protection Agency (EPA) and the National Petroleum Authority (NPA) to resist persuasion and pressure from influential people in society to site fuel stations at wrong places. Fuel and gas stations have claimed lives of hundreds of Ghanaians across the country. A situation, many ...

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Gov’t woos foreign investors for its $ 2.4 bn energy sector bond

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Foreign investors have shown interest to buy government’s 2.4 billion dollar energy sector bond. Citi Business News understands this is the response following an international road show by the transaction managers for the energy sector bond. The Deputy Energy Minister in charge of Finance, Joseph Cudjoe who disclosed this to Citi Business News explained that the move is expected to ...

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BOST fuel saga: Investigative committee resolute with ambitious mandate

Dr. Lawrence Darkwa

The newly inaugurated committee set up to investigate the off-spec products at the Bulk Oil Storage and Transportation Company (BOST) has resolved to carry out its mandate with much enthusiasm. The nine-member committee is confident that its work will lead to a turnaround in the operations at the petroleum products distributing company. The Chairman of the investigative committee, Dr. Lawrence ...

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ACEP pushes for local technology use in Ghana’s extractive sector

Benjamin Boakye - Executive Director, ACEP

The African Centre for Energy Policy (ACEP) has warned government against its over reliance on foreign partners in providing skills and technology needed to extract the country’s natural mineral resources. The energy think tank bemoans what it describes as the huge sums of monies spent to import such skills and technology. ACEP argues this is not in the best interest ...

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Investors upbeat about moves to clear energy sector debt                                                

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Investors are optimistic government will be able to clear its huge energy sector debt within the next five years. They attribute this to the positive key indicators that are playing in the sector. This, however, comes at a time that majority of businesses are complaining about the high power charges in the country. President Akufo-Addo has also assured that government will ...

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Minister charges new ECG Board to solve labour agitations

Energy Minster - Boakye Agyarko

The Minister of Energy, Boakye Agyarko, has charged the new board of directors of the electricity company of Ghana (ECG) to embark on a pragmatic process to safeguard jobs ahead of the Private sector participation in the company. According to him, the power distributing company risks a worsening performance if staff issues are not duly addressed. President Nana Akufo Addo ...

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TOR to operate on weekends to avert premix shortage

TOR

The Tema Oil Refinery (TOR) is to commence operations on weekends to avert the shortage of premix fuel during peak periods. The move follows a directive from the President Nana Akufo Addo, over the constant shortage of the product during the fishing season. Shortage of premix fuel hit fishing communities along the coast in July this year – 2017 leading ...

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Cleaning Ghana’s power sector : AfDB pledges support                                                                              

Akinwumi Adesina AfDB

President of the African Development Bank, Mr. Akinwumi Adesina has pledged of his outfit’s commitment to provide government with significant support to clear its energy sector debt. He argues that the perennial challenges that have confronted the country’s power sector require robust measures to address them permanently. Mr. Adesina made the remarks when he paid a courtesy call on the ...

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Oil prices to push ex-pump prices up in August – IES   

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Fuel prices for the first window in August 2017 will see a marginal increase of about 2.5%. This is the prediction by the Institute of Energy Security (IES). According to the IES, the increase is due to key indicators such as the marginal increase in crude oil prices. Speaking to Citi Business News, the Principal Research Analyst at the IES, ...

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We are not to blame for premix shortage – TOR

TOR

The Tema Oil Refinery (TOR) has dismissed claims that challenges with its pump systems have contributed to the shortage of premix fuel in the country. According to TOR, its systems are all in good condition hence have the capacity to produce to meet demand. Fisheries Minister, Elizabeth Afoley Quaye has attributed the shortage of the premix fuel to some faulty ...

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Ghana Business News