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    We did not provide guarantees to IPPs – World Bank clarifies

    139,331 jobs created from 1D1F so far – Alan Kyerematen

    Ghana’s energy sector debt reduced to $1.5 billion – Amewu

    GCNET appeals against Labour Court ruling on redundancy pay

    KIA workers to withdraw services to demand removal of MD

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

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    We did not provide guarantees to IPPs – World Bank clarifies

    Kristianne Reindorf Osei, MD, Twelve Springs Investment Group.

    Meet Kristianne Reindorf Osei; the Young Ghanaian MD of a real estate company bagging global awards

    KIA workers to withdraw services to demand removal of MD

    Managing Director and CEO of UBA Ghana, Olalekan Balogun.

    UBA Ghana restates commitment to provide fast and secure remittance service with Africash

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Victor Yaw Asante,
FBNBank Ghana MD/CEO

    SMEs need to master ICUMS, attract credit in order to benefit from enormous AfCFTA opportunities – FBNBank MD

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Don’t charge new rates until 3rd quarter – Shipping lines urged

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    Huawei Y7a; Enjoy poster level shots at the touch of a button!

    Looking for a Balanced School Life? Here is a Gadget Guide for You

    Stress-test your systems against possible cyber-attacks – BoG to banks

    Standout while staying healthy and fit with the sleek HUAWEI WATCH FIT

    Five reasons why you should get the HUAWEI Y7a

    Stallion Motors Ghana Ltd introduces ZxAuto Terralord pickup

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    World Bank appoints Senegal’s Makhtar Diop as Managing Director of IFC

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    WTO Appoints Nigeria’s Ngozi Okonjo-Iweala as First Female Leader

    Ghana-UK finalize negotiations on new interim Trade Partnership Agreement

    Go City Cycle Share & Tour promotes bike-sharing culture in Ghana

    Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees

    Digital transactions for 2020 up by 103% – GhIPSS report

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    We did not provide guarantees to IPPs – World Bank clarifies

    139,331 jobs created from 1D1F so far – Alan Kyerematen

    Ghana’s energy sector debt reduced to $1.5 billion – Amewu

    GCNET appeals against Labour Court ruling on redundancy pay

    KIA workers to withdraw services to demand removal of MD

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Ghana cedi expected to be stable for the rest of 2021

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    We did not provide guarantees to IPPs – World Bank clarifies

    Kristianne Reindorf Osei, MD, Twelve Springs Investment Group.

    Meet Kristianne Reindorf Osei; the Young Ghanaian MD of a real estate company bagging global awards

    KIA workers to withdraw services to demand removal of MD

    Managing Director and CEO of UBA Ghana, Olalekan Balogun.

    UBA Ghana restates commitment to provide fast and secure remittance service with Africash

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Victor Yaw Asante,
FBNBank Ghana MD/CEO

    SMEs need to master ICUMS, attract credit in order to benefit from enormous AfCFTA opportunities – FBNBank MD

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Don’t charge new rates until 3rd quarter – Shipping lines urged

  • TECHNOLOGY

    Huawei Y7a; Enjoy poster level shots at the touch of a button!

    Looking for a Balanced School Life? Here is a Gadget Guide for You

    Stress-test your systems against possible cyber-attacks – BoG to banks

    Standout while staying healthy and fit with the sleek HUAWEI WATCH FIT

    Five reasons why you should get the HUAWEI Y7a

    Stallion Motors Ghana Ltd introduces ZxAuto Terralord pickup

    Enjoy longer reading pleasure with the new HUAWEI MatePad T

    Huawei announces innovative HUAWEI Y7a in Ghana

    Patience Akyianu joins Hubtel as non-Executive Director

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    World Bank appoints Senegal’s Makhtar Diop as Managing Director of IFC

    WTO Director General outlines plans to rejuvenate global trade

    WTO Appoints Nigeria’s Ngozi Okonjo-Iweala as First Female Leader

    Ghana-UK finalize negotiations on new interim Trade Partnership Agreement

    Go City Cycle Share & Tour promotes bike-sharing culture in Ghana

    Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees

    Digital transactions for 2020 up by 103% – GhIPSS report

    Shift focus from upscaling to upgrading – Ofosu-Dorte urges businesses

    Ghana receives €9.7 million EU Grant to improve access to electricity

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Calls for removal of Cylinder Recovery Margin unfortunate – NPA

by Nerteley Nettey
April 4, 2020
in Oil And Gas, Top Stories
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The National Petroleum Authority (NPA), has described as unfortunate calls by the LPG Marketing Companies Association of Ghana for the withdrawal of the 13.5 pesewas cylinder recovery margin.

The Authority has also condemned the assertion that the new charge will increase the price of LPG and other petroleum products at the pumps and thereby burden the consumer.

NPA in a statement issued on 4th April, 2020, stated that, “The attention of the National Petroleum Authority (NPA) has been drawn to a statement issued by the LPG Marketing Companies Association of Ghana (LPGMCs) on the above subject, dated April 3, 2020, calling for the withdrawal of GHp 13.5 Cylinder RECOVERY MARGIN which took effect on April 1, 2020,”

“Per our projection for this very pricing window (1st April to 15 April, 2020), consumers are expected to enjoy a price reduction of about 11.56 percent even with the introduction of the Cylinder Recovery Margin. These projections were made before the decision to introduce the Cylinder Recovery Margin,” the statement added.

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The Authority further explained that the margin is to help the marketers to cover some of the cost as under the Cylinder Re-circulation Model (CRM), LPG cylinders will be procured, owned, branded and maintained by the Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs).

“We wish to state categorically that, contrary to their claim that the introduction of the margin will increase the product price at the pumps and thereby burden the consumer, the facts as they stand do not support that.”

“The margin is therefore to assist the marketers to offset some of their financial expenses, in accordance with the full cost recovery principle of petroleum products pricing in Ghana. It is therefore unfortunate for the LPGMCs to hold such a position”, it added.

However, the NPA says it will continue to engage with the marketers on apprehensions raised regarding tax components in LPG and other related issues of mutual concern.

“We are certainly aware of the difficult situation we all find ourselves in at this time, and the last thing we will do is to further burden the consumer with additional taxes. The NPA would, therefore, like to assure members of the general public of our commitment to ensure product availability, affordability, and accessibility, while ensuring the safety of the general public and the business viability of players across the value chain”, the statement concluded.

Background

The NPA on Wednesday, April 1, 2020, directed industry players to begin 13.5 pesewas charge on each kilogram of LPG.

It also instructed Oil Marketing Companies to increase the levy on Fuel Marking Margin from three pesewas to 4.5 pesewas per litre on every product.

But the Chamber of Petroleum Consumers, COPEC, has asked the NPA to issue an official publication notifying Ghanaians about a withdrawal of the levies placed on Liquefied Petroleum Gas, LPG.

Cylinder Re-circulation Model pilot implementation launched in Kade

The National Petroleum Authority, NPA, and the Ministry of Energy, started the pilot implementation of the Cylinder Re-circulation Model at Kade in the Kwaebibirim Municipality of the Eastern Region in March this year.

The Cylinder Re-circulation Model, which is primarily aimed at reducing LPG-related accidents according to government, will also create more jobs contrary to claims by players in the sector that they will lose their jobs.

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139,331 jobs created from 1D1F so far – Alan Kyerematen

Ghana’s energy sector debt reduced to $1.5 billion – Amewu

GCNET appeals against Labour Court ruling on redundancy pay

KIA workers to withdraw services to demand removal of MD

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Gas sub-sector becoming a fiscal burden to the country – IES study

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