Author: citibusinessnews

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in Business, News, Oil And Gas, Top Stories

Citi Business News checks across the capital have revealed some Oil Marketing companies have sanctioned a close to 15% increase in fuel prices at the pumps. The change in prices at the pumps vary from one station to the other. A visit to the Shell pump station at Asylum Down revealed there was a 50.5…

We didn’t steal oil from Saltpond Offshore – GSTS

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in Business, Oil And Gas, Top Stories

The General Shipping and Trading Services (GSTS) has denied stealing oil from Saltpond Offshore oil field and insisted that claims that its vessel has been arrested in Germany are also “false.” The GSTS Chief Executive Officer (CEO), Justice Asare in an interview with citifmonline.com said the publication by Ghana News Agency (GNA) was “a personal vendetta against him…

Stolen Saltpond crude oil intercepted in German waters

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in Business, Oil And Gas, Top Stories

The International Police in Germany has intercepted an oil tanker, MT Ceilo Di Milano that was carrying stolen crude from Saltpond Offshore oil field. According to a correspondence between Addo Atuah & Company, Solicitors of SOPCL, and the Director-General of the Criminal Investigations Department of Ghana, General Shipping & Trading Services Ltd, acting per its…

Gov’t squeezing everything out of Ghanaians – KT Hammond

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in Business, Local Economy, Top Stories

The Mahama administration has been accused of financially burdening Ghanaians with the frequent increases in petroleum and utility prices. Former Deputy Energy Minister, K T Hammond was of the view that the National Democratic Congress (NDC) government has breached its contract with Ghanaians. “The contract was not vote for me and I will skin you…

America renews AGOA

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in Business, Local Economy, News

The United States of America has renewed the African Growth and Opportunity Act (AGOA) program. [contextly_sidebar id=”CMKU5ILbdVmbfeeKoyKZBdyDvmv7dkAc”]The program which was to expire in September this year has been extended for ten years. The new extension which was signed by President Barack Obama gives the US the ability to withdraw, suspend, or limit benefits if designated…

GPHA suspends July 1 port tariff hikes

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in Business, Top Stories, Transport

The Ghana Ports and Harbours Authority (GPHA) has pushed to October 1,2015 a proposed upward review of some tariffs at the country’s ports. [contextly_sidebar id=”vkAL0yn0xYk6KNWbxRJoHGcsTflb5Ydf”]The authority had set Wednesday July 1,2015 to review upwards vessel handling charges and stevedoring charges by 4percent, whiles receipt and delivery charges with regards to imports handling was to be…

Oil prices down as Greece default looms

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in Banking And Finance, Business, News

Oil prices extended losses in Asia on Tuesday on expectations Greece will miss a key debt repayment later in the day and edge closer to a eurozone exit, analysts said. US benchmark West Texas Intermediate (WTI) for August delivery fell 23 cents to $58.10 while Brent crude for August eased 15c to $61.86 in late-morning…

Fly540 to resume operations in Ghana

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in Business, Top Stories, Transport

The Ghana Civil Aviation Authority (GCAA) has told Citi Business News that the authority is currently reviewing the new structure of FLY540 before granting the airline permission to resume operations. [contextly_sidebar id=”mYzQQyFxEzWKQcER6D5s1TncsmMigKLu”]This comes after the airline reapplied to the GCAA to resume operations soon. The airline’s application follows its acquisition by new investors. Fly540 Ghana,…

Correct economic structures to save cedi- Alhassan Andani

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