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Oil And Gas

Ghana awaits maritime dispute ruling with ‘fingers crossed’

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President Akufo Addo says his government will not make any pronouncements on the yet to be delivered judgment on the maritime border dispute between Ghana and Ivory Coast. Nana Addo maintains that a lot of work is ongoing on how best to handle the outcome of the three year dispute. The International Tribunal of the Law of the Sea (ITLOS), ...

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Fuel prices hit all-year-high [Infographic]

FUEL-STATION

Ghanaians are currently paying more for petrol and diesel few months after enjoying fairly low prices. Current figures from the petroleum industry show that, prices of the two products at the various fuel stations have hit all time high, with petrol selling at an average of GHc4.29 at the pumps, and diesel going for an average of GHc4.23 per litre, ...

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White & Case advises GNPC on landmark gas deal

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Global law firm White & Case LLP has advised the Ghana National Petroleum Corporation (GNPC) on a landmark liquefied natural gas (LNG) regasification project located in Tema, Ghana. Under the structure of the deal, Gazprom Global LNG Limited, a global subsidiary of global energy giant PAO Gazprom (Gazprom), the world’s largest gas producer, will supply LNG and convert it into ...

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Fuel prices increase by 3% average in 2017

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Consumers should be paying more for fuel they purchase at the various pumps from Tuesday, September 19, 2017 as Oil Marketing Companies (OMCs) begin to adjust their prices to reflect the increase in the prices of their products. If the prediction by the Institute of Energy Security (IES) is anything to by, then prices will go up by at least ...

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Cedi depreciation, US floods increase petroleum prices                                       

FUEL-STATION

Consumers should brace themselves to pay more for fuel for the second pricing window in September 2017. It follows an anticipated 7 percent rise in the prices of petroleum products. According to the Institute of Energy Security (IES), this is highly due to the effect and great impact Hurricane Harvey had on oil refineries across the globe as well as ...

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GRIDCo to lead low power costs drive

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Perhaps a key mandate of the new board of the Ghana Grid Company Limited (GRIDCo) will be to quicken the move to reduce the cost of electricity in Ghana. This will help meet the government’s objective of making Ghana very competitive within the sub-region with regards to pricing of electricity for consumers. In a speech to inaugurate the Board of ...

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New BOST Board mandated to stabilize fuel prices

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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 ...

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William Amuna exits as GRIDCo CEO

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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 ...

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Gazprom secures major gas deal in Ghana

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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 ...

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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 ...

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