Accra, Ghana

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Oil And Gas

We need a module to determine allocation to GNPC—Boakye Agyarko


Ghana’s oil sector will suffer a major setback if industry players and the government do not decide on a single module to run the oil industry. This is the assertion of the Minister for Energy, Boakye Agyarko. According to him, the non-existence of a single module to define allocation of funds to the Ghana National Petroleum Corporation (GNPC) have ignited ...

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Aker Energy quickens process to start oil drilling in 2021

CEO of Aker Energy - Jan Arve Haugan

Norwegian oil company, Aker Energy, has disclosed to Citi Business News it is hoping to start its oil exploration activities in Ghana by the end of 2021. The company explains that it is working to complete the necessary processes to get clearance from the government to start operations. The CEO of Aker, Jan Arve Haugan outlined the company’s investment plans ...

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Bawumia to Deliver Keynote Address at 6th Edition of EOBS


Vice President, Dr Mahamudu Bawumia is expected to deliver the keynote address at the sixth edition of Ghana Economic Outlook and Business Strategy Conference (EOBS) on Wednesday 21 March, 2018  at Labadi Beach Hotel, in Accra. He will lead business executives, policy makers, among others to discuss issues on the oil and gas industry in the country. Dr Yaw Akoto, ...

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No significant increase in fuel prices-IES


The Institute of Energy Security (IES) has predicted prices of petroleum products to remain stable for the second pricing window in March. The IES largely attributes the prediction to the insignificant increase in the price of key indicators such gasoline on the international market. “Fortunately for consumers in this window, the international indicators have been really favorable. We have had ...

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GNPC still interested in Voltain Basin, looking for investors


The Ghana National Petroleum Corporation (GNPC) has reassured that it has not abandoned oil exploration in the Voltain Basin. The GNPC, some years ago announced that it will commence onshore oil exploration at the Voltain Basin, but checks by Citi Business News show that the corporation is yet to inject the needed funds in the exploration to yield the good ...

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MODEC appoints 1st female offshore Production Technician Trainee

Portia reading an instrument at TOR

MODEC Ghana Limited has appointed Portia Ama Anobea Oduro as the first female offshore Production Technician Trainee. Portia is the only female among sixteen (16) other male candidates. Her appointment also comes after four years of brazing the odds to succeed in her chosen career. A native of Kwahu-Nkwatia, Porita had her high school education at Benkum Senior High School ...

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Govt must clear all debt by April–BDCs

Senyo Hosi-CEO Chamber of Bulk Oil Distributors

The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi has told Citi Business News members of the chamber are expecting government to clear the final part of debt owed them by next month. The total debt as at 2016 owed Bulk Oil Distribution Companies was estimated to have hit about 1.2 billion cedis. But after ...

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Petroleum prices to drop by 3% in March


Prices of petroleum products are expected to drop by about 3 percent for the first pricing window in March. The pricing window spans Thursday, March 1, 2018 to Thursday, March 15, 2018. According to the Institute of Energy Security (IES), the drop can be attributed to the reduction of crude oil prices on the international market as well as the ...

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Standards Authority clamps down on substandard electrical gadgets                         

WhatsApp Image 2018-02-28 at 2.13.35 PM

The Ghana Standards Authority has served notice it will confiscate all substandard electrical gadgets and equipment. The authority has also warned it will pursue and sanction appropriately, persons who deliberately engage in the dumping of such products onto the Ghanaian market. The caution forms part of moves to develop and enforce standardization on the Ghanaian market. “Where the law permits ...

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Low funding keeps sulphur in diesel products from TOR high

Isaac Osei - MD, Tema Oil Refinery

It is emerging that the Tema Oil Refinery (TOR) will need some 300 million dollars before it could refine products to the current specified sulphur content for diesel of 50 parts per million. The development also puts consumers at risk as there are fears the products may have been in circulation at the various retail outlets. The revelation comes seven ...

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Ghana Business News