Category: Oil And Gas
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We did no wrong in sale of 260 metric tonnes of slop oil – TOR
Management of the Tema Oil Refinery (TOR) has refuted claims of wrongdoing in a recent sale of about 260,000 tonnes of slop oil. This follows a recent publication that suggested that TOR was involved in a shady deal with some unlicensed companies. The report revealed what it described as a shady transaction between state-owned Tema…
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Fuel prices to go up as NPA announces restoration of UPPF margin
The National Petroleum Authority (NPA) has announced that it is restoring the full Unified Petroleum Price Fund (UPPF) margin on petroleum products. It made the announcement to players in the industry on Thursday June 30, 2022, indicating that the decision takes effect from Friday, July 1, 2022. “We hereby wish to inform you that, following…
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Prices of petrol, LPG to fall by 4% in first pricing window of July – IES
Consumers of petroleum products, can heave a sigh of relief as the price of petrol is expected to go down by about 4 percent per litre at the various pumps in the country in the 1st pricing window of July. This is according to a recent analysis by the Institute for Energy Security (IES). This…
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ASTM International pledges support for Ghana’s petroleum industry
The Director of External Relations of ASTM International, a global standards organisation, James P. Olshefskyan has pledged his outfit’s support to Ghana’s efforts at creating a world class petroleum industry. He said the American-based private standards-setting body, will provide technical assistance to build the capacity of local experts to enhance the reliability and profitability of…
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BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD
The Ghana Chamber of Bulk Oil Distributors (CBOD), has called on other players in the foreign exchange supply market to step up their efforts to ensure the demand for US Dollars by Bulk Distributing Companies (BDCs) is met. This, according to the CEO of the Chamber, Senyo Hosi, is important as the quantum of US…
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CBOD calls for a more structured supply of Forex for petroleum products
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has blamed the inadequate supply of foreign exchange for the procurement of petroleum products at the doorsteps of commercial banks in the country. The remark comes on the back of a report from Bloomberg which claimed that Ghana faces a…
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GOIL’s profit after tax rises by 9% to hit GH¢ 98.7 million in 2021
Leading Oil Marketing Company GOIL has recorded significant growth in key areas of the company’s operations such as its profit after tax, total assets and volume of fuel sold in 2021. This was revealed at GOIL’s 53rd Annual General Meeting held in Accra. The 53rd Annual General Meeting of GOIL which was held on the…
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Fuel prices to go up by over GH¢1 per litre soon – COPEC
It appears the woes of fuel consumers are not yet over, as the price of the commodity is tipped to increase by about 12 percent in the next pricing window of June 2022. This would mean that the average price of fuel is likely to increase by about GH¢1.33 per litre. While petrol prices are…
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Tullow Oil confirms merger with Capricorn Energy
Tullow Oil has confirmed its merger with Capricorn Energy, a fellow British oil and gas company that offers the combined entity oil reserves in excess of a billion barrels across multiple countries in Africa. According to the company, it is intended that the Combination will be implemented by means of a Court-sanctioned scheme of arrangement…
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NPA boss named outstanding public sector leader of the year
The Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid continued in his streak of silverware collection as he emerged the ‘Outstanding Public Sector Leader’ for the year 2021 at the Ghana CEO Excellence Awards held at the plush Kempinski Hotel in Accra. He was awarded for his Sterling Leadership, Achievement, Business Excellence…