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Fuel prices go up by 2% in May – IES

Fuel pump nozzles are pictured at Helios petrol station in Almaty

The Institute of Energy Security (IES) has predicted an increase in fuel prices for the first two weeks of May. The Institute tells Citi Business News prices will go up by about 2 percent barring an intervention from the National Petroleum Authority (NPA). “In the first pricing window for May 2018, we are expecting fuel prices to go up by up to 2%. ...

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Total Petroleum Ghana rewards dealers

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Total Petroleum Ghana Limited, a locally listed oil marketing company and the 2017 AGI Award winner for ‘Overall Best in Quality’ has rewarded its Dealers and Frontline workers at the company’s eleventh Dealer Convention and Awards event in Koforidua. The programme gathered over two hundred station staff from the retail network across the country. According to the Managing Director, Mr. ...

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Goil pursues MMT, others over GH¢12m debt

Patrick Akorli - CEO/MD of GOIL

Oil marketing company, Goil, is hopeful that it will be able to recover the estimated 12 million cedis owed it by state transport company, Metro Mass Transport (MMT), by the end of the year. It follows what the company says is its plan to recover its debts and invest the proceeds into its business from this year [2018] onwards. Goil ...

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Shutdown of FPSO not to affect power supply—IES


The Institute of Energy Security (IES) has told Citi Business News it is confident Ghanaians will be spared any power outages during the shutdown of the Floating, Production, Storage, and Offloading (FPSO) Kwame Nkrumah later this year for repairs. According to the IES, it expects the contingency plans, being put in place by the key stakeholders especially the Ministry of ...

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Tullow to spend $780m on new wells on TEN oilfields

Kweku  Awotwi - Managing Director, Tullow

Tullow has disclosed to Citi Business News that it will cost the company about seven hundred and eighty million dollars ($780,000,000) to construct the remaining wells on its TEN oilfields. Tullow has so far completed one of the thirteen wells to be drilled on the oilfields in the western region. The Maritime border dispute between Ivory Coast and Ghana, led ...

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Big shots at MTN bow out


At least three executive positions at MTN Ghana have been left vacant following the exit of two executives and the promotion of one. The positions that are vacant are that of the Chief Executive Officer, Corporate Services Executive as well as the Chief Marketing Officer. The positions were previously occupied by Mr. Ebenezer Asante, Madam Cynthia Lumor and Mr. Asha ...

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50% of oil-money projects missing, poorly executed – PIAC

Dr. Steve Manteaw

Fifty (50) percent of government’s oil-funded projects from the 2016 annual budget funding amount (ABFA), allocated to the three regions of the north, are non-existent or have been poorly executed. This was revealed by the Public Interest and Accountability Committee (PIAC), which said this had cost the state about $1.2 billion dollars. Chairman of PIAC, Dr. Steve Manteaw, in an interview ...

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Oil companies yet to meet local content requirement

oil  and gas

It has emerged that no oil company has been able to satisfy the minimum local content levels in employing Ghanaians, 10 years after the discovery of oil in commercial quantities in the country. Stakeholders in Ghana’s Oil and Gas industry have consistently bemoaned what they say is the low level of employment, as well as poor investment in the training ...

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Fuel prices increase by 1.5 percent in April


The prices of petroleum products at the pumps have gone up by about 2 percent for the first pricing window this month (April). For the first two weeks of this month, consumers should be prepared to pay more for fuel they purchase at the various retail outlets for the Oil Marketing Companies (OMCs). The first pricing window spans from the ...

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Citi Business News