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Tag Archives: COPEC

Consumers demand disclosure on petroleum price stabilization levy

FUEL-STATION

Pressure is mounting on government to come clear on the implementation of the price stabilization levy on petroleum products. Industry watchers argue that consumers risk being shortchanged, if the regulators fail to regulate the application of the levy. The comments come in the wake of marginal rise in the prices of petroleum products for the first two weeks (1st to ...

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Energy Ministry rejects calls to scrap special petroleum tax

Fuel pump nozzles are pictured at Helios petrol station in Almaty

The Ministry of Energy has rejected calls by the Chamber of Petroleum Consumers Council, to scrap the special petroleum tax on petroleum products. According to the Head of Communications at the Energy Ministry, Nana Damoah, scrapping the special petroleum tax will be detrimental to governments’ ability to raise revenue to tackle the energy sector debts. The Chamber of Petroleum Consumers Council, ...

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Consumers seek NPA intervention as fuel prices rise

Executive Secretary for the Chamber of Petroleum Consumers, Duncan Amoah

Citi Business News has gathered that prices of fuel have gone up at some pumps effective Tuesday, January 16, 2017. This follows an earlier prediction by the Institute of Energy Security (IES) that prices will go up by between 3 and 5 percent. According to the IES, the development can be attributed to the increase in crude oil prices, the ...

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Industry intensifies pressure to get 15% petroleum tax scrapped

Fuel pump nozzles are pictured at Helios petrol station in Almaty

Analysts have intensified appeals for government to scrap the Special Petroleum Tax on petroleum products. They argue this will give more meaning to attempts to reduce the plight of consumers following rising global oil prices. The comments follow a recent NPA announcement of a seventy percent reduction in the price recovery and stabilization levy calculated on petroleum prices. The price ...

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Fuel prices remain unchanged at pumps

FUEL-STATION

The prices of petroleum products will remain unchanged at the pumps at least for the first two weeks in December, despite a reduction in the price stabilization and recovery levy. As a result, the Chamber of Petroleum Consumers (COPEC) is urging consumers to disregard reports of reduction in fuel prices due to the development. The NPA has directed all Oil ...

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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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COPEC demands arrest of illegal petroleum traders

Executive Secretary for the Chamber of Petroleum Consumers, Duncan Amoah

The Chamber of Petroleum Consumers (COPEC) is calling on government to urgently investigate and arrest culprits involved in the illegal sale of petroleum products. COPEC believes this will ensure the immediate halt of the illegal activity and revamp the once vibrant sector. Oil Marketing Companies on Tuesday revealed that about 4,000 workers may lose their jobs in the next few ...

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More OMCs threaten layoffs over illegal trade

petrol-station-300x187

More workers are set to be laid off in the petroleum downstream sector as the illegal sale of petroleum products continue unabated. Already, the CEO of the Association of Oil Marketing Companies, Kwaku Agyeman-Duah has warned of some 4000 job losses in the next few months due to the development. The Association contends that profits for its members continue to ...

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OMCs to sack 4000 workers over illegal trade

OMCs-600x330

About 4,000 workers in the petroleum sector are likely to lose their jobs within the next few months if government fails to stop the illegal sale of petroleum products in the country. This is the caution from the Association of Oil Marketing Companies (AOMCs). The Association explains that the illegal trade which has been perpetrated for over year now, has ...

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Petroleum consumers dissatisfied with NPP’s 100 days’ work

FUEL-STATION

The Chamber of Petroleum Consumers (COPEC) has expressed dissatisfaction at the achievements of the Nana Akufo Addo led government, grading it below average in its first 100 days in office. Citing key issues such as the high sulphur content in fuel, as well as the unsteady fuel prices, COPEC believes government has not done much in rectifying problems facing the ...

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Citi Business News