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Oil And Gas

‘Vigilant’ fuel purchases to halt cheating


The Consumer Protection Agency (CPA) has advised the general public to insist on making fuel purchases in litres when buying from fuel stations. The CPA says the current practice where consumers just concentrate on the monetary value of their fuel purchases has partly contributed to the rise in cheating by the Oil Marketing Companies (OMCs). The CPA believes a reverse ...

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ITLOS to settle maritime border dispute on September 23


The International Tribunal for the Law of the Sea (ITLOS) is to deliver its ruling on the Ghana Ivory Coast border dispute on the 23rd of September 2017. The two countries are seeking a resolution over the dispute at the International Tribunal after Ivory Coast accused Ghana of using the development of its oil industry to annex a part of ...

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Fuel prices to remain stable in September


Prices of fuel are likely to remain stable in the first pricing window of September this year. This is according to the Institute of Energy Security (IES). The IES attributes this to the relative stable prices of finished products on the international market as well as the suspension of the recently implemented fuel standards. Principal Research Analyst at the IES, ...

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Ghana Energy Awards launched


The Energy Media Group in collaboration with GP Business have launched the Ghana Energy Awards. Tthe awards are aimed at recognizing the efforts of outstanding industry players in the Oil and Gas as well as the power sector. Launching the event, the Chairman of the Ghana Energy Commission,  Dr.  Kwame Ampofo, expressed optimism that the Energy awards will be the ...

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Opposition to VRA assets sale intensifies


The Institute for Energy Security (IES) has challenged government to provide evidence backing its claim that the Volta River Authority (VRA) is inefficient. This comes after the President disclosed in parliament in February 2017 the possibility of listing VRA and Ghana Grid Company (GRIDCO) on the Stock Exchange. Subsequently, the Minister of Finance has also indicated a restructuring of the ...

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VRA staff risk layoff over assets sale


Energy sector analysts have raised labour security concerns with the government’s decision to sell off some thermal assets of the Volta River Authority (VRA). They argue that the move may spark protests if unmanaged properly. Government, through the Finance Ministry is seeking to sell majority stake in the thermal assets of VRA. Deputy Finance Minister, Kwaku Kwarteng explained that the ...

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450MW Karpowership to stabilize power supply – ACEP

Benjamin Boakye - Executive Director, ACEP

The African Center for Energy policy (ACEP) is hopeful the arrival of the 450 megawatts Karpowership will help improve power supply in the country. The new power generating vessel replaces an earlier once with a lower capacity of 225 megawatts at Tema. Citi Business News understands that the ship has arrived in Ghana’s territorial waters to directly feed into the ...

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Work to get relevant laws passed – Minister to PC Board

Petroleum commission board 2

Energy Minister, Boakye Agyarko has charged the new Board of Directors of the Petroleum Commission to work to get outstanding legislations on their operations passed into law by the end of the year. The Commission is seeking to get the Data Management Regulations and the Health and Safety Regulations by December this year. The two laws are expected to deepen ...

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SMEs lost GH¢250m to dumsor – Report


Ghana lost at least 200 million cedis in revenue accruing from the operations of Small and Medium Enterprises (SMEs) due to the impact of the power crisis on such businesses between 2012 and 2015. This is according to a new research conducted by the Institute of Statistical Social and Economic Research (ISSER) and the International Growth Centre (IGC). The loss ...

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COPEC pushes for measures to mitigate $ 1.5bn loss to illegal fuel   

Executive Secretary for the Chamber of Petroleum Consumers, Duncan Amoah

The Chamber of Petroleum Consumers (COPEC) says Ghana is at a high risk of losing more revenue if it continues to ignore the fuel smuggling menace in the country. COPEC believes strongly that the government has turned a blind eye to the fuel smuggling issue which if not handled properly, will affect all consumers. “Indeed we are not surprised at ...

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Ghana Business News