Accra, Ghana
36°C

GSE Feed

Forex Rate

Oil And Gas

We will not reduce fuel prices-NPA

NPA

Prices of petroleum products will not be reduced in the next price review by the National Petroleum Authority (NPA). According to the NPA, which undertakes the price review every two weeks, it will not review downwards the prices, despite a drop in the price of crude oil on the world market. Crude oil prices hit a four-year low after Saudi ...

Read More »

Energy Minister inspects electrification projects in W/R

???????????????????????????????

The Minister of Energy and Petroleum, Emmanuel Kofi Buah, has visited some ongoing and completed electrification projects in parts of the Central and Western Regions to acquaint himself with progress of work. The visit was also to interact with leaders of beneficiary communities on proper energy conservation practices among others. The Minister’s visit forms part of the Energy and Petroleum ...

Read More »

KIPP US$ 900 million project signed

thermal

  A 900 million dollar agreement has been signed for the construction of the Kpone Independent Power Plant (KIPP). The project being undertaken by Cenpower Generation Company, when completed in 2017, will be the largest private IPP in the country. It will account for approximately 10% of Ghana’s total installed capacity and approximately 20% of its available thermal generation capacity. ...

Read More »

Subsidize LPG to sustain free distribution project-ACEP

LP_gas_cilinder

The Africa Centre for Energy Policy (ACEP) is asking government to subsidize Liquefied Petroleum Gas (LPG) to sustain the free rural LPG cylinders distribution project. The program which is aimed at halting the burning of charcoal has not yielded the desired results. Reports indicate that beneficiaries of the project are selling the cylinders because they cannot afford to buy gas to ...

Read More »

NPA maintains prices of petroleum products

petrol-GH

Users of Petroleum products have again been spared of an increase in the prices of fuel. The National Petroleum Authority (NPA) in its latest review of the prices of petroleum products maintained the last rates. The review takes effect from today. Petrol is still going for 3cedi 36pesewas per litre, diesel 3 cedis 27 pesewas, kerosene 3 cedis 23 pesewas, ...

Read More »

Energy Minister defends emergency power badge contract

Emmanuel Armah Kofi Buah, Former Petroleum Minister

Energy and Petroleum Minister Emmanuel Buah has defended government’s move to go in for emergency power barges, despite calls by stakeholders that other alternatives should be pursued. The ministry weeks ago announced government had entered into a contract with a Turkish company, Karpower International Limited, to provide two power barges which will contribute about 450 megawatts of power to the ...

Read More »

Give priority to Ghanaians in oil contracts-NRGI

industry-oil-and-gas

The Natural Resource Governance Institute (NRGI)  is demanding that Ghanaians  are given priority in the awarding of contracts in the upstream petroleum sector. This comes after the Energy ministry revealed that Ghanaian companies in the oil and gas sector have received close to  600 million dollars in contracts since Ghana started drilling oil in 2010. Ghana has earned in excess ...

Read More »

NRGI warns hedging could lead to massive losses

crudeoil

The Natural Resource Governance Institute (NRGI) is warning that Ghana risks making some significant  losses if cabinet approves the hedging proposal from the Energy ministry. The ministry wants to start quarterly hedging to avoid huge debts accumulating from subsidizing price differentials on petroleum products. Despite earlier reports that the Energy ministry will start hedging on September 1 ,2014, Citi Business News ...

Read More »

Turkish firm to build emergency power ships for Ghana

Emmanuel Armah Kofi Buah, Former Petroleum Minister

Karpower International Limited a Turkish company is expected to build two emergency power ships for Ghana. The project will be pre-financed by  Karpower and the cost would be paid on the amount of energy delivered to the system. The two mobile energy plants when delivered will add four hundred and fifty more megawatts of power to the national grid. The ...

Read More »

Gas plant to cater for 70% of Ghana’s LPG needs

LP_gas_cilinder

The Ghana gas plant is to cater for 70% of the country’s Liquefied Petroleum Gas (LPG) needs when the plant comes on stream by the close of the year. According to the Minister of Energy and Petroleum Emmanuel Kofi Buah “The good news is that in the coming years we are going to have a lot of liquefied Petroleum Gas ...

Read More »
Citi Business News