Category: Oil And Gas
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FPSO shutdown hurts Ghana’s economic growth
The Ghana Statistical Service (GSS) has reveled the shutdown of the Kwame Nkrumah FPSO in the second quarter of 2016 led to a slowdown in Ghana’s economic growth for that period. Gross Domestic Product (GDP) figures released by the GSS today [Wednesday] revealed that Ghana’s economy in the second quarter of 2016 grew by 2.5%…
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Dirty diesel kills thousands of Ghanaians yearly – ACEP
Energy policy think tank, Africa Centre for Energy Policy (ACEP) has told Citi Business News thousands of Ghanaians lose their lives every year because they inhale fumes from dirty diesel. ACEP’s Deputy Executive Director, Benjamin Boakye says ‘people are dying because we import this dirty fuel. World Bank estimates that 17, 500 people die annually…
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GNPC,PURC to work on refinancing Sankofa field loans
As work on the Gye Nyame Sankofa field reaches 54 percent, the Ghana National Petroleum Corporation (GNPC) has assured that it will work the with the Public Utilities Regulatory Commission (PURC) to help generate money to refinance the loans used by government as a partner in the project. The Sankofa field is estimated to hold…
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Petroleum workers petition Ghana Gas Board over dismissals
The General Transport, Petroleum and Chemical Workers’ Union, (GTPCWU), is petitioning the Ghana National Gas Company Limited over the dismissal and suspension of some workers at the Atuabo Gas Processing plant. A total of forty-five workers have been affected in various disciplinary measures taken by the management of the Ghana Gas Company Limited for demonstrating against…
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FPSO for Sankofa oil field 80% complete
The Ghana National Petroleum Corporation (GNPC) has announced that the FPSO being constructed for the Sankofa Gye Nyame Oil and Gas Project is 80 percent complete. T he Sankofa field holds estimated proven hydrocarbon reserves of 204 million barrels of oil and 1.1 trillion standard cubic feet of natural gas. ENI, the operator, holds a…
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Over 60 companies set to participate in Citi Business Olympics
Over 60 companies are set to participate in the year’s Citi Business Olympic scheduled for tomorrow September 24, 2016. The event which will be held at the Burma Camp Leisure Center will bring together participants from the banking sector, insurance, technology pharmaceuticals , real estate, automobile, as well as Oil and Gas, among others. Already,…
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Ghana signs $700m guarantee for Sankofa, Gye Nyame Oil project
The Government of Ghana has signed an agreement of 700 million dollars with the World Bank to provide financial guarantee for the Sankofa Gye Nyame Oil and Gas Project located 60km offshore Takoradi in the Western region. The World Bank has already negotiated the legal documentation with the project sponsors– ENI, Vitol, GNPC, and the…
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BDCs are ready to import fuel with European standards- Senyo Hosi
The Chief Executive Officer of the Chamber for Bulk Oil Distributors Companies (CBOD) Senyo Hosi has stated that the chamber is ready to import diesel with a sulphur level which meets the European limit of 5 or 10 parts per million (ppm). This follows a report released by the African Centre for Energy Policy (ACEP)…
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BDCs chamber calls for calm over debt payment uncertainty
The Chief Executive Officer of the Chamber for Bulk Oil Distribution Companies Senyo Horsi has rejected revelations that government may not abide by the agreed payment plan to clear debts owed banks by Bulk Oil Distribution Companies. Government is currently indebted to about 17 Bulk Distribution Companies in excess of 500 million dollars. In government’s…
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ACEP displayed ‘ignorance’ in ‘dirty diesel’ report – NPA boss
The National Petroleum Authority (NPA) has dismissed reports that it is to blame for the dumping of ‘dirty diesel’ on the Ghanaian market. A report released by the African Centre for Energy Policy (ACEP) and its partner, Public Eye, has revealed that Swiss commodity trading firms are exploiting lax regulatory standards to sell to African…