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Oil And Gas

No new CEO appointed yet – Gov’t replies GOIL

goil-filing-station

Government has dismissed reports that it has appointed a new CEO for Ghana Oil Company Limited (GOIL). The company had issued a statement reacting to reports that President Akufo Addo has appointed a new CEO for the company. GOIL rejected the reports explaining that the appointment could not have been done without recourse to laid down rules. “The Regulations state ...

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Job layoffs lurk over persistent power challenges – ICU  

Solomon Kotei - General Secretary, ICU

The Industrial and Commercial Workers’ Union (ICU) has renewed caution of massive job layoffs if the power supply challenges are not resolved anytime soon. The union contends that employers would be compelled to cut down on labour size due to increased cost of operation but a drop in production levels. “If this should continue, then prices of goods and services ...

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Power cuts to worsen over unpaid debts to WAPCo et al – Analysts

dumsor

Analysts in the power sector fear the current disruptions in power supply would linger until such a time that government finds sustainable means to increase gas supplies to power the country’s thermal plants. According to them, the quantity of gas delivered by the Ghana Gas Company is insufficient to meet demands by the thermal plants. They have therefore impressed on ...

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Power cuts still on despite Energy Minister’s assurances

Boakye Agyarko, Minister for Energy

Consumers of electricity are still bearing the brunt of power cuts despite claims that the situation has since normalized. Power supply was cut to some parts of the Greater Accra region yesterday [Sunday]. The development is in sharp contrast with assertions by the Energy Minister, Boakye Agyarko of a stable power supply effective last Saturday [February 25th, 2017]. His assurance ...

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Listing GRIDCo on stock market: Managers discredit Kwabena Donkor’s claims

gridco

Managers of the Ghana Stock Exchange (GSE) have discredited claims by former Power Minister, Dr. Kwabena Donkor indicating his pessimism of the prospects of listing the Ghana Grid Company Limited (GRIDCo) on the stock exchange. According to the Managing Director of the GSE, Kofi Yamoah, the decision is a laudable one and should be supported by all stakeholders. Dr. Kwabena ...

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GOIL dismisses ‘change of CEO report’

Managing Director of Goil Ghana, Mr. Patrick Akorli

Indigenous Oil Marketing Company, GOIL has dismissed reports indicating that Presdent Akufo-Addo has appointed one Mr. Osei Prempeh as its new CEO. According to a press statement signed by GOIL’s Board Chairman, Prof. William Asumaning, the company is listed on the Ghana Stock Exchange(GSE), hence has procedures in appointing its head, which must comply with regulations set by the GSE. ...

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Power supply will stabilise from today – Energy Minister

Boakye Agyarko - Energy Minister

Energy Minister, Boakye Agyarko has assured consumers of stable power supply effective today evening. The assurance follows what he says is the completion of works for the interconnection between the Tweneboa, Enyera, Ntomme (TEN) fields and the Jubilee Field for gas exportation to the Ghana Gas Company. According to the Minister, the intermittent power cuts were largely as a result ...

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OMCs demand ease of registering businesses

WhatsApp Image 2017-02-23 at 08.50.31

Some Oil Marketing Companies (OMCs) are advocating for all processes in registering their businesses to be streamlined. The petroleum distribution companies believe the current practice delays the process which makes it unattractive for the business to expand and promote competition. Though the Managing Director of Petroleum Limited, Emmanuel Pobee admits of some initial constraints in meeting this objective, he explains ...

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ACEP pushes for a transparent petroleum sector under NPP

Benjamin Boakye - Executive Director, ACEP

The African Centre for Energy Policy (ACEP), has impressed on the NPP government to pursue processes to enact regulations to guide the effective implementation of the Petroleum Exploration and Production (E&P) law. The Centre believes the regulations should intensify the call for transparency and value for money in the petroleum sector. The energy think tank also wants government to review ...

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No need for energy levy cuts due to US$ 2.4bn debt- IECP

Industry Electricity

Despite assurances from President Akufo Addo to grant some tax cuts in the power sector, the Institute of Energy and Climate Change Policy (IECP) has cautioned that any attempt to review the energy sector levy downwards may cause a power crisis due to the huge debts crippling the sector. President Akufo-Addo during his maiden State of the Nation Address disclosed ...

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