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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Blackouts to worsen as VRA loses 230 MW power in Aboadze

bycitibusinessnews
July 11, 2016
in Government, Local Economy, Oil And Gas, Top Stories
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Ghanaians experiencing intermittent power outages should brace themselves for the worst should the cuts in gas supply from the Ghana National Gas Company to the Aboadze power enclave continue.

This is the caution coming from engineers of the Volta River Authority (VRA).

It comes on the back of the fact that Tullow Oil – operator of the FPSO, has reduced gas supply to Ghana Gas Company Limited by almost half, which has affected onward distribution to the thermal plants in Aboadze in the Western region.

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As a result, Ghana Gas is only able to supply the VRA’s Aboadze enclave with some 45 million standard cubic feet of gas; creating a huge shortfall in quantities needed to generate power.

Speaking to Citi Business News on the development, the Corporate Affairs Manager of Ghana Gas, Alfred Ogbamey, indicated Tullow has assured to be able to normalize the situation by the weekend.

“It is indeed the case that the Jubilee partners led by Tullow Ghana have informed Ghana Gas that due to adverse weather conditions affecting their operations offshore, they are unable to give us the volumes of gas as expected. They have had a significant reduction of the recent maximum of 85 million standard cubic feet of gas they were giving us to 46.7 million standard cubic feet of gas. Following which we are giving VRA 46 million standard cubic feet of gas,” he stated.

Mr. Ogbamey added,”They have also informed us that they expect to resolve whatever challenge they are facing by the end of this weekend, that is July 14.”

President blames Nigeria

Consumers of electricity in the country have for some time now been experiencing continuous power cuts as a result of shortfall in power generation.

The President has attributed to challenges to the transportation of crude from Nigeria to Ghana.

Tullow dismisses reports of challenges with offloading crude

Though some have attributed the issue to Tullow’s inability to offload crude stored on the FPSO, the oil producing company has dismissed such reports.

Tullow insists that the new procedures established in offloading crude oil for export should avert a complete cut in gas supply to Ghana Gas.

The turret bearing on the FPSO vessel has developed a fault and the Jubilee partners have indicated that it will cost more than $345m to fix the problem by 2017.

The situation has compelled the partners to cut down gas production from the Jubilee fields.

Citi Business News’ sources at the Volta River Authority (VRA) have said, with the reduction in gas supply, coupled with the shortage of light crude oil, the country is losing some 230 MW of electricity from the Aboadze thermal power enclave currently.

A situation, according to engineers, would see more power outages in the coming days.

–

By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana

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