Accra, Ghana
36°C

GSE Feed

Forex Rate

Oil And Gas

New BOST Board mandated to stabilize fuel prices

WhatsApp Image 2017-09-16 at 13.14.58 (1)

The Minister of Energy, Boakye Agyarko, has tasked the new Board of the Bulk Oil Storage and Transportation Company (BOST) to intensify efforts to increase the strategic reserves of petroleum products in the country. He maintains that failure to increase the stock of petroleum products in due time, could trigger price hikes. In addition, BOST’s inability to supply enough fuel ...

Read More »

William Amuna exits as GRIDCo CEO

william amuna

The CEO of the Ghana Grid Company (GRIDCo), Ing. William Amuna has stepped down as the boss of the power generation company. It follows the expiration of his four year term as the head of the institution. Engineer William Amuna assumed the mandate in September 2013. Prior to his appointment as Chief Executive, Ing. William Amuna worked in Volta River ...

Read More »

Gazprom secures major gas deal in Ghana

gazprom-energy-transparent-q1-small

Sources within the Ghana National Petroleum Corporation (GNPC) have confirmed, exclusively to Citi Business News, that the company’s board has approved the awarding of a long term Liquefied Natural Gas (“LNG”) supply contract to Gazprom, the world’s largest producer of gas. The long term supply contract is expected to significantly increase the country’s energy security, providing Ghana with 250 MMscf/d ...

Read More »

US storms to trigger petroleum price hikes

Executive Secretary for the Chamber of Petroleum Consumers, Duncan Amoah

Current developments in the U.S including Tropical Storm Harvey are likely to push the prices of fuel up in Ghana in the second pricing window. The Institute of Energy Security (IES), has predicted of stable prices in the first pricing window in September. The Institute attributes this to the relative stable prices for finished products on the international market as well ...

Read More »

‘Vigilant’ fuel purchases to halt cheating

FUEL-STATION

The Consumer Protection Agency (CPA) has advised the general public to insist on making fuel purchases in litres when buying from fuel stations. The CPA says the current practice where consumers just concentrate on the monetary value of their fuel purchases has partly contributed to the rise in cheating by the Oil Marketing Companies (OMCs). The CPA believes a reverse ...

Read More »

ITLOS to settle maritime border dispute on September 23

Ghanas-maritime-borders

The International Tribunal for the Law of the Sea (ITLOS) is to deliver its ruling on the Ghana Ivory Coast border dispute on the 23rd of September 2017. The two countries are seeking a resolution over the dispute at the International Tribunal after Ivory Coast accused Ghana of using the development of its oil industry to annex a part of ...

Read More »

Fuel prices to remain stable in September

FUEL-STATION

Prices of fuel are likely to remain stable in the first pricing window of September this year. This is according to the Institute of Energy Security (IES). The IES attributes this to the relative stable prices of finished products on the international market as well as the suspension of the recently implemented fuel standards. Principal Research Analyst at the IES, ...

Read More »

Ghana Energy Awards launched

ENERGY AWARDS

The Energy Media Group in collaboration with GP Business have launched the Ghana Energy Awards. Tthe awards are aimed at recognizing the efforts of outstanding industry players in the Oil and Gas as well as the power sector. Launching the event, the Chairman of the Ghana Energy Commission,  Dr.  Kwame Ampofo, expressed optimism that the Energy awards will be the ...

Read More »

Opposition to VRA assets sale intensifies

VRA-620x330

The Institute for Energy Security (IES) has challenged government to provide evidence backing its claim that the Volta River Authority (VRA) is inefficient. This comes after the President disclosed in parliament in February 2017 the possibility of listing VRA and Ghana Grid Company (GRIDCO) on the Stock Exchange. Subsequently, the Minister of Finance has also indicated a restructuring of the ...

Read More »

VRA staff risk layoff over assets sale

VRA-620x330

Energy sector analysts have raised labour security concerns with the government’s decision to sell off some thermal assets of the Volta River Authority (VRA). They argue that the move may spark protests if unmanaged properly. Government, through the Finance Ministry is seeking to sell majority stake in the thermal assets of VRA. Deputy Finance Minister, Kwaku Kwarteng explained that the ...

Read More »
Citi Business News