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Oil And Gas

Aker Energy takes over Hess Energy’s oil bloc in Ghana

CEO of Aker Energy, Jan Arve Haugan

Aker Energy Ghana AS, a subsidiary of Aker Energy AS has completed the acquisition of Hess Ghana, the operator of the Deepwater Tano Cape Three Points block (“DWT/CTP”) with a 50 percent participating interest in the license. A statement from the company copied to Citi Business News assured that “Aker Energy will work closely with licence partners and authorities to ...

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Tullow Plc targets more oil exploration in Ghana

tullow pix water

The Chief Executive Officer of Tullow Oil Plc, Paul McDade has disclosed that the company will actively participate in the bidding process announced by government recently to allocate oil blocs to investors. According to him, the company will earmark about half a billion dollars to commence more oil exploration in Ghana if it wins the bids. The Energy Minister, Boakye ...

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GNPC, Rosneft sign gas supply agreement

WhatsApp Image 2018-05-30 at 4.45.01 PM

The Ghana National Petroleum Corporation (GNPC) has signed a 12-year agreement with Rosneft, for the supply of natural gas to Ghana. The signing took place on the sidelines of the 26th St. Petersburg International Economic Forum, St. Petersburg, Russia. GNPC Board Chairman, Frederick Blay, signed on behalf of GNPC, with Igor Ivanovich Sechin, Chief Executive Officer and Chairman of the ...

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Energy Ministry pushes for increase local content in oil industry

Energy Minster - Boakye Agyarko

Energy Minister, Boakye Agyarko has given indication that the Ministry of Energy will focus on ensuring that more Ghanaians take advantage of investment opportunities in the petroleum sector. The local content and participation policy for the downstream sector was submitted to cabinet for consideration in 2017 and approved in 2018. But the draft policy is yet to be passed into ...

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Total Petroleum Ghana holds AGM

IMG-20180529-WA0043

Total Petroleum Ghana Limited, a leading oil marketing company in Ghana, has held its 42nd Annual General Meeting. Speaking to the shareholders on the financial and operational performance of the company, the newly elected Chairman of the board, Mr. Samba Salfal Seye, said that the consolidated profit after tax for the Total Group for 2017, amounted to GH¢ 32.63 million. ...

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Ghana lost GH¢1.9bn to illegal fuel trade in 2017 – Report

fuel tanker

The Chamber of Bulk Oil Distributors is blaming the persistent issues of illegal fuel trade on what it says is the weak commitment of security agencies in addressing the issue. A latest industry report by the Chamber said the illegal fuel trade cost the country some 1.9 billion cedis in 2017. The report cited three main factors as accounting for ...

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Gov’t officials complicit in illegal trade of petroleum products – Report

Senyo Hosi new

Government officials are reportedly complicit in the illegal trade of some petroleum products including premix. A 2017 report on the state of the petroleum sector put together by the Chamber of Bulk Oil Distribution (CBOD) said some government officials were complicit in the illegal trade of petroleum products. According to the report, the government has, over the years, also failed ...

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FPSO shuts down for three weeks

The FPSO Kwame Nkrumah, in Ghana's Jubilee Oil field.

Operators of the FPSO Kwame Nkrumah on the Jubilee oilfields in the Western region, have from today May 28, 2018, shutdown the vessel temporarily. The shutdown, according to the Ghana National Gas Company is to allow for maintenance works on the turret bearing of the vessel. The shutdown is also expected to last for 21 days or three weeks. Per ...

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UBI Group challenges LPG operators’ ‘false’ cylinder recirculation claims

Puma-Energy

UBI Group, the parent company of Puma Energy and Blue Ocean Investments has debunked claims of the LPG Operators Association that it is engaged in illegality in the country’s petroleum industry. In a statement copied to citinewsroom.com, UBI Group said contrary to claims by the LPG operators in their article published last week that Puma Energy was a foreign company coming ...

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Gov’t intervenes; LPG operators call off strike

gas shortage

The LPG Marketers Association has called off its 48-hour strike, following government’s intervention. Members of the Association had embarked on a strike to protest government’s planned implementation of the cylinder re-circulation policy which they say will collapse their business. The Association’s strike caused a lot of discomfort to many consumers across the country, as they were turned away from private ...

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