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Oil And Gas

Analysts demand clarity over ExxonMobil agreement

Dr. Steve Manteaw

Some energy sector analysts want government to come clear with the decision regarding direct negotiations with ExxonMobil over the latter’s preparations to start operations in Ghana’s oil industry. They argue that the seeming failure by the Energy Minister to resort to an open bidding process to select ExxonMobil, requires further scrutiny of the deal. The concern comes with some three ...

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ExxonMobil must abide by local content laws – Analyst

ExxonMobil-Nigeria-headquarters

Oil industry analysts want authorities to enforce Ghana’s local content policies as new entrants join Ghana’s oil exploration industry. The comments also follow the commencement of operations of ExxonMobil in Ghana. The company is expected to sign an agreement with the government on Thursday, January 18, 2018, on the development. Citi Business News has been speaking to some industry players ...

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ExxonMobil to commence operations in Ghana

ExxonMobil-Nigeria-headquarters

American multinational oil and gas company ExxonMobil Corporation is to begin full operations in Ghana this year – 2018. It follows successful negotiations with Ghana to carry out exploratory works at the deep water cape three points. Citi Business News has gathered Government will next week Thursday 18th January, 2018, sign an agreement with the oil giant to finalize the ...

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Tullow Ghana upbeat about oil production in 2018

The FPSO JEA MIlls

Tullow Ghana is upbeat about its oil production from the TEN and Jubilee fields this year. According to the company, it expects gross oil production from the TEN and Jubilee fields to average 139,800 barrels per day for the 2018 season. In its 2018 Trading Statement and Operational update, Tullow announced that it has secured the Maersk Venturer rig which ...

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More LPG stations to be closed down–Hassan Tampuli

Hassan Tampuli - CEO, NPA

The Chief Executive of the National Petroleum Authority, Hassan Tampuli, has reiterated the Authority’s commitment to ensure LPG refill stations which fail to adhere to safety standards at their operation sites are shutdown, as it intensifies its monitoring and inspection exercise. The Authority has in the past been accused by the public of doing little to ensure safety at the ...

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OMCs maintain prices for first pricing window in January

FUEL-STATION

Oil Marketing Companies (OMCs) have maintained their prices at the pumps for the first pricing window in January 2018. Checks by Citi Business News at some major oil marketing companies have shown that the prices of fuel were kept unchanged for the period spanning January 1, 2018 to January 15, 2018. A litre each of petrol and diesel is being ...

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Analysts urge private sector involvement in TOR

TOR

Analysts in the oil and gas sector are upbeat about government’s plans to revamp operations of the Tema Oil Refinery (TOR). Though they have largely lauded the move, the industry watchers have suggested the need to attract private sector participation in order to achieve the full objectives. The comments also follow recent fuel shortage and its impact in Neighbouring Nigeria. ...

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Petrol, LPG prices to remain stable at pumps – NPA

Hassan Tampuli - CEO, NPA

Prices of petrol and Liquefied Petroleum Gas (LPG)  will remain fairly stable at the pumps from January 1, 2018, the National Petroleum Authority (NPA) has announced. The NPA in a statement explained that, this is “in line with a drop in crude and petroleum prices on the world market, as well as stability in the exchange rate.” The Authority added that, ...

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Revamp TOR to reduce petroleum imports – IES

oil block

The Institute of Energy Security (IES) has urged government to work to revamp the Tema Oil Refinery (TOR) in order to reduce the country’s over dependence on imported fuel. The IES argues that the development has dire implications should there be threats of cuts in supply. The comments come on the back of shortage of fuel in Nigeria for at ...

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Nigeria’s fuel shortage not to affect Ghana – ACEP

Benjamin Boakye - Executive Director of ACEP

The Africa Centre for Energy Policy (ACEP) has ruled out any impact of the fuel shortage in Nigeria on Ghana. The energy think tank explains that Ghana’s decision to review downwards, its sulphur content for imported petroleum products, limits it from importing fuel from Nigeria. Nigeria has for the past three weeks been hit with fuel shortages particularly in Lagos ...

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Ghana Business News