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    COCOBOD closes purchases for 2021/2022 main crop cocoa season

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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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    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    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

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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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Gas from Gye Nyame Sankofa field may prevent dumsor in 2017- Petroleum Commission

bycitibusinessnews
October 27, 2016
in Government, Oil And Gas, Top Stories
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As some observers point to a possible load shedding by early 2017, the Petroleum Commission has said that Ghana will have reliable gas supply from the Sankofa Gye Nyame field to produce about thousand megawatts of power by mid next year.

The New Patriotic Party (NPP) yesterday warned that Ghana could  return to another period of  power crisis due to a possible shortage of about  700 megawatts of power  in early 2017 due to drop in gas supply.

But speaking to Citi Business News, the Director of Special Services at the Petroleum Commission, Kwaku Boateng stated that the Gye Nyame Sankofa field will hold the capacity to produce about 1.1 trillion standard cubic feet of natural gas to produce reliable power.

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“This FPSO will process and store oil and gas. But that particular project is mainly gas project and we believe that it has the capacity to process and deliver over 180 million cubic feets of gas, capable of generating nearly thousand megawatts of electricity.” he said.

He added that “So once that FPSO comes and full production begins, Ghana will have the right quantity of gas supply domestically for our power generation and we expect that that will in a long run contribute towards fixing the challenges we have in the power sector. In the sense that for the first time in the country, we would be nearly almost be self sufficient in terms of fuel for power generation.”

He contended that the project will be crucial in averting any power crisis by next year since it will guarantee reliable gas supply.

FPSO for Sankofa oil field 80% complete

The Ghana National Petroleum Corporation (GNPC) announced earlier that the FPSO being constructed for the Sankofa Gye Nyame Oil and Gas Project was 80 percent complete.

The Sankofa field holds estimated proven hydrocarbon reserves of 204 million barrels of oil and 1.1 trillion standard cubic feet of natural gas.

ENI, the operator, holds a 47.2 percent participating interest in the block while Vitol holds 37.8 percent.

GNPC holds a 15 percent carried interest and 5 percent additional participating interest.

The CEO of the GNPC, Mr. Alex Mould assured that the construction of the new FPSO is on schedule in an interview with Citi Business News.

–

By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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

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