Category: Oil And Gas
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TOR increases daily crude production by 20,000 barrels
The Tema Oil Refinery (TOR) is set to increase its daily production capacity following a successful test run of the expanded processing units. Per the expansion, the Crude Distillation Unit will now produce 65,000 barrels of crude oil a day from the current 45, 000 barrels’ level. The Managing Director of TOR, Kwame Awuah Darko who…
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2017 ‘imminent’ dumsor must not occur – Kwame Jantuah
Oil and Gas Analyst, Kwame Jantuah has impressed on both the governing NDC and incoming NPP government to work to avert any load shedding regime early next year. He argues that the impact of another round of load shedding will be disastrous for businesses. Kwame Jantuah’s comments follow concerns by some industry players of a…
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NPP gov’t should pursue misappropriation of oil revenue – PIAC
The Public Interest and Accountability Committee (PIAC) wants the Nana Akufo Addo led administration to demonstrate its willingness to enforce the Petroleum Revenue Management Act (PRMA) and give value for money. In PIAC’s view, its work would yield the necessary results if government machinery acts on findings indicating instances of misappropriation. Though the Chairman of…
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World Bank pumps $517m into Sankofa oil & gas project
The World Bank Group has provided another $517 million to Ghana in debt and guarantees to support the $7.7 billion Sankofa oil and gas project. This brings to a total of $1.217 billion provided by the group after it initially injected $700 million in the project which is being developed by Italian Firm ENI SpA…
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New gas project in Tema to revamp idle plant
Government’s desire to stabilize Ghana’s gas supply to enhance electricity production has received a major boost as the West African Gas Limited, a subsidiary of the Nigerian National Petroleum Corporation builds a 180million square cubic feet of gas plant at Tema. The project is expected to supply thermal plants in the Tema Power enclave with…
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TEN oil test run ‘good’ for sulphur content rules – TOR MD
The Tema Oil Refinery (TOR) has disclosed to Citi Business News that its test run of crude oil from the TEN fields should influence any major policy decision on the sulphur specification content for diesel. The National Petroleum Authority (NPA) has since September 2016, revised the national sulphur content specification for diesel from the 1000…
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Dumsor is coming back- ACEP warns
The African Center for Energy Policy (ACEP) has warned that Ghana may face power crisis by next year. The caution was contained in a report released by the group. According to ACEP, the danger the power sector faces in 2017 could be attributed to a potential disruption in gas supply. The report, which was titled…
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Abrogate power purchase agreement with some IPPs- ACEP to govt
The African Center for Energy Policy(ACEP) has urged government to review existing Power Purchase Agreement with companies holding Power Purchase contracts with the Electricity Company of Ghana According ACEP, it is imperative for government to pull out of some of the agreements since most of the companies have not yet secured funds for the projects…
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Govt not subsidizing GOIL- Terkper insists
Finance minister, Seth Terkper has debunked suggestions that government pays subsidies to the Ghana Oil company limited, (GOIL). There were reports in the media suggesting that government was subsidizing GOIL. But speaking at the company’s annual staff Awards and Dinner night in Accra, Mr. Terkper disclosed that it was rather government that owed the company…
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Govt halts further processing of IPPs
Government has directed the Ministry of Power to halt the processing of application for Independent Power Plants in the country. The move is aimed at assessing the situation to determine the country’s future power demand. President John Mahama disclosed this in an address read on his behalf at the official launch of the Ghana Exim…