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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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Oil emerges as second largest export earner – BoG report

oil block

Ghana’s oil sector emerged as the second largest contributor to the country’s exports for 2017. The country raised an estimated three billion dollars from the oil resources in 2017. Official figures released by the Bank of Ghana show that the total revenue Ghana raked in from her exports stood at 13.8 billion dollars. A further breakdown shows that gold contributed ...

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Dep. Energy Minister chides LPG operators over strike threats

dr-amin-adam-mohammed

Deputy Energy Minister, Muhammed Amin Adam has chided the operators of LPG for embarking on strike, saying such actions disrupts government’s bid to increase the penetration of LPG to 50%. The operators began a nationwide strike yesterday to press on government to stop the implementation of the Cylinder Recirculation module. They complain that, the project if implemented will push them ...

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Fuel smuggling: Ghana loses $200m in 2 years

Fuel pump nozzles are pictured at Helios petrol station in Almaty

Ghana lost 200 million dollars in both 2016 and 2017 as a result ofthe smuggling of fuel into the country, the National Petroleum Authority has revealed. According to the head of research at the authority, Shiela Abiemo, up to 300,000 metric tonnes of fuel used in the country are not recorded and no taxes paid on them. The illegal activity ...

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LPG retailers to strike on Monday over cylinder circulation policy

gas shortage

The Association of LPG retailers will embark on a strike across the nation on Monday over the government’s plan to implement the cylinder re-circulation policy. This means consumers will not be able to buy the product at various retail outlets from Monday. The Operators, who are opposed to the policy, say their businesses will collapse if the government goes ahead ...

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