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Oil And Gas

GNPC expands the search for more oil fields

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The Ghana National Petroleum Corporation (GNPC) has stepped up the search for more oilfields as it begins work on the Volta Basin Project. The project seeks to confirm the presence of petrochemicals in the Voltaian Basin that stretches across Volta, Northern, Ashanti, Brong-Ahafo and Eastern regions. It is being jointly spearheaded by the GNPC and the Petroleum Ministry. A stakeholders’ ...

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Gas export from Jubilee Field to resume in August – Tullow

Tullow Oil Plc has announced that the export of gas from the Jubilee Field is likely to resume by mid-August. Presently, the company has mobilised a team of experts to rectify the fault within the gas compression system on the FPSO Kwame Nkrumah to reinstate gas export and full oil production. About two weeks ago, the company announced that gas ...

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We do not price petroleum products – NPA insists 

The National Petroleum Authority (NPA) has maintained the petroleum prices deregulation has started despite concerns from some market watchers that the authority still determines the  price of petroleum products. Minority Spokesperson on Energy, K.T. Hammond has argued that the NPA still has a hand in the pricing of petroleum products since the deregulation regime is without a legal mandate. Citi ...

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BDCs are ‘heroes’ of petroleum pricing – ACEP

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The African Center for Energy Policy (ACEP) has lauded the Bulk Oil Distributing Companies (BDCs) for publishing the fuel price indicators. Speaking on the Citi Breakfast Show on Tuesday, the Executive Director at ACEP, Dr Mohammed Amin Adam described the BDCs as “heroes” of the petroleum-pricing regime. “I think that the heroes of this deregulation are the BDCs because of ...

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Fuel prices drop by 9% to19%

Contrary to calls by the Chamber of Bulk Oil Distributors (CBOD) for prices of petroleum products to be reduced by 25%, Citi Business News checks have revealed various Oil Marketing Companies have only sanctioned  a close to 15%  reduction in price of  petrol. This follows the good performance of the cedi against the dollar and other major Foreign currencies. The ...

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Tullow accused of blocking reinstatement of MODEC staff

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The General Transport, Petroleum and Chemical Workers Union (GTPCWU) has accused Tullow Ghana of coercing MODEC against reinstating some dismissed workers of FPSO Kwame Nkrumah. According to the union the offshore installation manager of the FPSO Kwame Nkrumah who is an employee of Tullow Ghana has blatantly refused to admit the workers onto the FPSO. Per an MOU signed between ...

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Restoration of gas from Jubilee field to take longer than expected

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Ghanaians may have to endure the ongoing load shedding exercise a little while as the Tullow Oil plc, the operator of the Jubilee field is uncertain when they will restore gas to the Ghana National Ghana Company. According to Ghana Gas, though the operators of the Jubilee field, which is  Tullow is currently working hard to reinstate gas export the ...

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Fuel prices: Ghanaians being short-changed?

Citi Business News investigations have exposed discrepancies in the pricing of petroleum products by some Oil Marketing Companies (OMC)s following attempts to implement the full deregulation of the petroleum downstream sector. The huge difference in the prices of petroleum products at various pump stations have led to concerns about the pricing formula of the different OMCs and the capacity of ...

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Former IBM boss, Joe Mensah to head Kosmos Ghana

Citi Business News has learnt former country manager of IBM, Joe Mensah is being lined up to become the managing director of KOSMOS energy Ghana. Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. The company discovered the Jubilee Field in 2007, which opened the Tano ...

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Jubilee Field cuts gas supply to Ghana Gas

Gas export from the Jubilee Field to the Ghana Gas onshore processing plant has been temporarily halted. According to lead mangers of the Jubilee Oil Field, Tullow the halt in the production was unplanned. It is unclear what lead to the disruption and how long the suspension will take but according to Tullow in a press statement all efforts are ...

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