Author: Bobbie Osei
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Stakeholders disappointed with low number of bids for new oil blocks
Stakeholders in the oil and gas sector have expressed their disappointment in the low number bids submitted for the 3 oil blocks put up for competitive bidding by the Government. At the close of the submission date for bidding yesterday, only 3 bids were submitted. Tullow Oil bid for block 3, ENI and Vitol jointly…
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Energy Ministry closes submission of bids for new oil blocks
The deadline for the submission of bids for the exploration oil blocks put on offer by the government in October last year elapsed at 12 noon today, May 21, 2019. The Ministry of Energy is expected to begin the opening of the bids at 5 pm. The bid process, which was ushered in by President…
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Rising inflation rate could derail economic targets—Prof. Quartey
Professor of Economics at the Institute of Statistical Social and Economic Research (ISSER) Prof. Peter Quartey, has expressed concerns about the rising inflation rate in the country. From the beginning of the year, the Consumer Price Inflation (CPI) rate has risen consecutively on 3 occasions. The CPI, which measures the change over time in the…
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MTN Ghana decries rampant fibre cuts
MTN Ghana says it is ready to play its part in bringing an end to the damaging phenomena of fibre cuts in the telecommunication industry. “On the issue of fibre cuts, we have seen an increase in the country and about 80 percent of the cuts are due to road construction works. The drastic rise…
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SSNIT receives GH¢ 9.9 million as dividend from MTN Ghana
MTN Ghana, a day after its maiden Annual General Meeting, has paid out a total dividend of over GH¢9.9 million to its third largest shareholder the Social Security and National Insurance Trust (SSNIT). This follows approval of a final dividend of 3 pesewas per share by shareholders of MTN at the AGM yesterday (May 14,…
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Impact of financial sector reforms will be felt long-term — BoG
Head of Banking Supervision at the Bank of Ghana, Osei Gyasi has said the recent banking sector reforms should impact positively on the macroeconomy largely through the reduction in interest rates and a decline in non-performing loans among others. While delivering a presentation at the first in a series of round table discussion with the…
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Sanction companies not complying with terms of Petroleum Agreements — ACEP
The Africa Center for Energy Policy (ACEP) has urged government to immediately review all existing Petroleum Contracts and their deliverables to ensure that companies who are not complying with their contracts are sanctioned appropriately. According to ACEP, of the 15 active Petroleum Agreements (beyond the producing fields of Jubilee, TEN and Sankofa), only two companies…
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Ensure fairness in awarding oil blocks – ACEP
Exactly one week to the May 21st deadline for the submission of bids, given to some 14 companies that applied to explore oil blocks put on offer by the government last year, the Africa Center for Energy Policy (ACEP) has called for fairness in the awarding of the oil blocks up for grabs. President Akufo-Addo…
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ACEP demands immediate review of 13 petroleum agreements
The Africa Center for Energy Policy (ACEP) has urged government to, as a matter of urgency, review all existing Petroleum Contracts and their deliverables to ensure that companies who are not complying with their contracts are sanctioned appropriately. According to ACEP, out of the 15 active Petroleum Agreements, beyond the producing fields of Jubilee, TEN…
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Support Bank of Ghana to clean financial sector — CAL Bank MD
The Managing Director of CAL Bank Limited, Frank Adu Jnr, has urged stakeholders in the financial sector to support the Bank of Ghana as it cleans the sector. The Bank of Ghana, last week sent out a notice, strongly indicating that it will punish persons, companies or institutions dealing in the foreign exchange business without…