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Oil And Gas

Ghana’s exports rise to $ 8.9 billion

Gold

Ghana is benefitting from increased revenue from her exports which is ultimately expected to reduce the country’s burden on imports and correct the Balance of Trade (B0T). The latest figures by the Bank of Ghana indicate that the country received 8.95 billion dollars from her exports in August 2017 compared to the estimated 7 billion dollars it spent on importing ...

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Improve IGF of Ghana Gas- Energy Minister directs board

Some board members of Ghana Gas

The Minister of Energy, Boakye Agyarko has tasked the new Board of Directors  the Ghana National Gas Company Limited (GNGC) to improve the internally generated funds (IGF) of the company. According to him, the new board must desist from seeking for funds from the central government. Speaking at an event to inaugurate a 9 member board of the GNGC, Sector ...

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Atomic Junction Gas Explosion: Safety measures must be enhanced     

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Some analysts in the petroleum and gas industry have called on government to equip regulatory bodies to enforce safety laws at the pumps following the Atomic Junction Gas explosion on Saturday [ October,7 2017] which claimed seven lives. In addition, government has been urged to strictly ensure that gas and fuel stations are placed at least 500meters away from each other ...

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We need centralized automatic fuel stations to curb explosions – Alex Mould

Alex Mould-GNPC 600x330

A former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) in the John Mahama administration is advocating the introduction of centralized automatic fuel stations in non-commercial and residential areas. His proposal came hours after Ghana was hit by another Gas explosion at Atomic Junction in Accra. Meanwhile, the Energy Ministry has already started a discussion in this regard. Mr. ...

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Ghana records 8 gas explosions within 3-years [Infographic]

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Ghana has since 2014 recorded at least eight major gas explosion cases across the country, as reported by Citi FM. In all the eight cases, six were recorded in the Greater Accra Region, one in Takoradi in the Western Region, and one at Kasoa in the Central Region. Two of the cases were recorded in 2014, two in 2015, one ...

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470MW Karpowership connects to national grid

KARPOWER

Karpowership Ghana Company Limited has connected its 470 MW Karadeniz Powership Osman Khan to the national grid. The Powership, which arrived in August this year, has completed all requisite commissioning works, operational tests and has begun supplying power to the national grid. This will significantly help ameliorate the power supply in the country. A release copied to Citi Business News ...

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NPA debunks RFO shortage rumors

Hassan Tampuli - CEO, NPA

The Chief Executive Officer(CEO) of the National Petroleum Authority(NPA), Hassan Tampuli has debunked rumors of a shortage of Residual Fuel Oil (RFO) in the country. This follows some rumors of an alleged shortage of the product which is used by factories in the country to generate steam in their broilers. Some factories in Tema recently agitated over the alleged shortage of the ...

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3.2 billion cedis accrued from energy sector levies

Energy Minster - Boakye Agyarko

Government accrued a little over 3.29 billion cedis in 2016 from energy sector levies, a report,  presented to Parliament by the Finance Minister Mr Ken Ofori Atta has revealed. The Annual report on the management of the energy sector levies and accounts for 2016, also revealed that  total amount of GH¢3,256.29 million was programmed to be collected as Energy Sector ...

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Tullow to drill new wells by year end

Managing Director of Tullow Ghana, Charles Darku

Tullow Ghana has told Citi Business News it will by the end of this year [2017] commence the drilling of additional wells in the West Cape Three Points as part of operations of the TEN oilfields. It follows the judgement by the Special Chamber of the International Tribunal for the Law of the Sea (ITLOS) that Ghana has not violated ...

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Maritime dispute win to boost Ghana’s economy

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Analysts in the oil and gas sector are anticipating a judgement in favour of Ghana at the landmark case involving Ghana and Ivory Coast at the International Tribunal of the Law of the Sea (ITLOS). The Special Chamber of ITLOS is expected to deliver its ruling on the three-year dispute between the two countries. Ghana, which took the case to ...

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Ghana Business News