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Oil And Gas

Fuel Supply Improves in Lagos, Scarcity Persists in Abuja

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Marketers attribute crisis to NNPC’s $6bn crude-for-product swap deal • Crude oil slips towards $65 as Forties Pipeline moves closer to restart Relief may be on the way for commuters as fuel supply to Lagos shows signs of improvement with queues at filling stations in the metropolis thinning out Tuesday. Vice-President Yemi Osinbajo had spent the Chrismas day touring Lagos ...

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Fuel crisis messes up Christmas in Nigeria

file photo

Many motorists and commuters are stranded in Nigeria following an excruciating three-week fuel shortage. Long queues continue to form at petrol stations in major cities, occasioning a hike in pump price in places where the product was available. Many bus stages are jammed with passengers travelling for Christmas celebration, yet many commercial vehicles were held up in petrol stations. Motorists ...

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Total rewards customers as ‘Aseda Tour’ ends

WhatsApp Image 2017-12-23 at 9.57.29 AM

Customers across seven regions in the country have benefited from gifts of appreciation from the ‘Aseda Tour’ embarked on by Total Petroleum Ghana, a leading Oil Marketing Company in the country. Speaking at a closing ceremony of the tour, the Sales and Marketing Manager of Total Ghana, Mr. Abdul-Rahim Siddique stated that the purpose of the ten-day tour was to ...

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Cylinder recirculation: LPG Marketers to lay off workers if sidelined

Gabriel Kumi- Vice-Chairman of the LPG Marketers Association

About seven thousand (7000) members of the LPG Marketing Companies Association are expected to lose their jobs if government fails to integrate the association into the cylinder recirculation policy. The LPG Marketing Companies Association has been calling for an automatic migration onto the new policy. The Vice-Chairman of the LPG Marketers Association, Gabriel Kumi disclosed that the layoffs will be the ultimate decision following the inability ...

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Ghana remains an oil led economy – Statistical Service

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Latest figures released by the Ghana Statistical Service show that Ghana’s economy continues to be led by the oil sector. A development, some economists have warned could have dire implications for the country’s future if not checked. For the third quarter this year, the Ghana Statistical Service stated that oil contributed largely to the growth in the country’s Gross Domestic ...

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Fuel prices to remain unchanged till year end                                                                                 

FUEL-STATION

Fuel prices are expected to remain stable at the pumps for the second pricing window of December. This means that fuel prices will remain unchanged till the end of the year. The Institute of Energy Security (IES) who predicted this attributed the development to a relatively insignificant change in oil prices at the global market. “We are not expecting any ...

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CBOD calls for calm in cylinder recirculation disagreement   

Senyo Hosi-CEO Chamber of Bulk Oil Distributors

The Chamber of Bulk Oil Distributors (CBOD) is calling for calm in the ongoing disagreement between the LPG Marketers Association and the National Petroleum Authority over the proposed cylinder recirculation program. The LPG Marketing Companies Association of Ghana has accused government of a grand scheme to wipe them out of business. According to the association, its members have been omitted ...

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Govt cuts back expenditure on health, roads

Ken Ofori Atta - Finance Minister

Government is yet to disburse some GH¢305.27 million outstanding allocation to the Annual Budget Funding Amount for the first half of 2017. According to the Public Interest and Accountability Committee (PIAC), even though the ABFA received some GH¢358.41 million for the first half of the year, the government spent just GH¢53,136,951 or 15 percent of the amount. The issues were ...

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New powership to add 470MW to national grid

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Karpowership Ghana Company Limited has reiterated its commitment to the supply of uninterrupted and consistent electricity to the national grid. This assurance was given at the inauguration of its new 470 megawatts Karadeniz Powership Osman Khan at the Tema main harbour yesterday [Thursday] to help in the supply of consistent electricity power in the country. This to adds up to ...

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PIAC criticizes Finance Minister for breaching petroleum laws

Ken Ofori-Atta - Finance Minister

The Public Interest and Accountability Committee (PIAC) is alarmed at the absence of an Investment Advisory Committee in the management of Ghana’s oil revenue for 2017. According to PIAC, the situation means the Finance Minister, Ken Ofori Atta has breached Section 29 of the Petroleum Revenue Management Act, hence must work to resolve the situation. This is among the findings ...

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Ghana Business News