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Oil And Gas

Give value for money – Energy Minister charges new Audit Committee

Energy Minister, Boakye Agyarko (second left) with other members of the committee

Energy Minister, Boakye Agyarko has charged the new Audit Committee for the energy ministry to commit itself to giving value for money as it commences its work. As part of fulfillment of provisions of Section 86 of the Public Financial Management Act 2016 (Act 921), the Minister on Friday, June 2, 2017 inaugurated a five member committee. The committee’s mandate ...

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Govt to clear all energy debts – Pres. Akufo-Addo

Nana-Addo-2-620x330

President Akufo-Addo has assured that government will clear all debts in the energy sector to bring back efficiency into the generation and distribution of electricity in the country. Debts in the energy sector are currently at 2.4 billion dollars, as the Finance Ministry announces plans to raise a bond to settle the debt. Speaking at the World Development Forum in ...

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Declining oil prices will least affect Ghana – Economist

oil

Some Economists have ruled out any significant impact on Ghana’s economy following the declining global oil prices. The decision by Oil Producing and Export Countries (OPEC) including Russia to cut down production due to increased supplies has resulted in a drop in prices. Contrary to the expectations of many investors in the oil and gas industry, the OPEC countries extended ...

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Ghana ready to abide by nuclear safety rules– Atomic Energy

A Nuclear plant in the US (file photo)

The Ghana Atomic Energy Commission has expressed its readiness to maintain high safety standards as the nation prepares to establish a nuclear power plant. Most Countries in Africa are reluctant to establish nuclear plants due to stringent rules from the International Atomic Energy Agency on upholding strict measures. Ghana has been presented with a document on assessment of phase one ...

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We’ll retrieve debt owed us by govt- GOIL Board

Kwamena Bartels is Board Chairman of GOIL

The Board Chairman of GOIL, Kwamena Bartels has outlined pragmatic measures to retrieve all debt owed to the company by government. GOIL, which an indigenous oil marketing company is owed by government agencies and security services including the Ghana Police, running into millions of cedis. Speaking to Citi Business News on plans to retrieve the funds Mr. Bartels assured that ...

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Timing of energy bond critical for its success – Prof. Bokpin

Prof Bokpin

Economist, Professor Godfred Bokpin has told Citi Business News the seeming delay in the issuance of the energy bonds may be deliberate to attract more buyers. He has however urged government to expedite processes to issue the energy sector bonds and improve the financial and energy sectors. According to Professor Bokpin, the country will suffer more should the bond fail ...

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Ghana’s nuclear power project gets major boost

Nuclear power pix

Ghana’s quest to establish the first Nuclear Power Plant in West Africa has received a major boost as the International Atomic Energy Agency presents it findings for the Phase One of the project. Ghana officially started the process to establish a nuclear power plant as part of its energy needs for the industrial use in 2008. Speaking to journalists after ...

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New GOIL Board promises to double market share

Kwamena Bartels is Board Chairman of GOIL

The new Board Chairman of GOIL Kwamena Bartels has set a target to double the company’s market share in the Oil Marketing Industry. GOIL which is currently the market leader in the Oil Marketing Industry is also listed on the Ghana Stock Exchange. Speaking to Citi Business News after an Annual General Meeting in Accra, Mr. Bartels assured to continue ...

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TEN to produce first gas mid 2017

The FPSO JEA MIlls

The TEN oilfield is expected to deliver its first gas to the Ghana Gas Company by the middle of 2017. This is the indication from Managing Director of Tullow Ghana, Charles Darku. It follows the completion of a tie in facility on the FPSO John Evans Atta Mills by the operators. This however comes later than the first quarter projection ...

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Ghana Business News