Category: Oil And Gas
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Govt to push for increase local participation in Oil & Gas industry
President John Mahama has assured that government will continue to push for an increase in local content participation in Ghana’s oil and gas industry. Speaking on the FPSO Professor John Atta Mills to commence oil production in the Tweneboa Enyenra Ntomme (TEN) field, President Mahama expressed satisfaction at the level of Ghanaian involvement in the…
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TEN oil field will boost Ghana’s economy & energy sector – GNPC
One of the partners for the Tweneboa, Enyenra and Ntomme (TEN) Oil field that is the Ghana National Petroleum Corporation (GNPC) has told Citi Business News the commencement of commercial oil flow from the field will aid the country in its quest to become one of Africa’s thriving economies. President John Mahama will today [Thursday]…
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E&P law to enhance accountability in petroleum industry- Petroleum Commission
The Chief Executive Officer of the Petroleum Commission Theophilus Ahwireng has stated that the Exploration and Production (E&P) Bill which was passed by parliament recently will enhance accountability in the petroleum upstream sector. According to him, the bill will help create certainty in the petroleum upstream industry by removing developments that may cause to unnecessary…
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Petroleum funds accrue over $144m in first half 2016
Ghana received some 144,400,610.40 dollars as part of the Ghana Petroleum Funds from three lifting’s of crude oil from the Jubilee oil fields as at the end of the first half of 2016. This is according to a publication from the Bank of Ghana on crude oil lifting’s of Ghana and the allocation to the…
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Crack the whip on ‘fronting’ – ACEP to Petroleum Commission
The African Centre for Energy Policy (ACEP), wants the Petroleum Commission to execute its mandate and punish non-indigenous companies who flout Ghana’s regulations regarding the provision of goods or services in the oil and gas sector. In ACEP’s view, objectives of the country’s local content law risk being shot down if the issue of ‘fronting’…
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Ghana’s 15% interest in TEN project not a rip off- GNPC
As oil production at the Tweneboa Enyenra Ntomme (TEN) field commences this week, the Ghana National Petroleum Corporation (GNPC) has disputed claims that the financial agreement covering the project is a rip off. Under the TEN project agreement, Kosmos Energy has 17.0 percent interest, whiles PetroSA and Anadarko have 3.8 and 17.0 percent interests respectively.…
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We’ll give TOR oil if they can pay- GNPC CEO
The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) Alex Mould has stated that the corporation is ready to offload crude oil to the Tema Oil Refinery (TOR) if it has the financial guarantee. According to him, Ghana’s Petroleum laws will not allow the sale of the product without reliable financial guarantee to…
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GNPC may exceed $30 million loan cap if… – ACEP
The Ghana National Petroleum Corporation, GNPC may be granted permission, where necessary, to borrow above the 30 million dollars cap if the investment will be to the benefit of the country. That is the position of the African Centre for Energy Policy, ACEP. The newly passed Petroleum Exploration and Production Bill makes it necessary for the…
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Ghana Gas staff livid over BOST ‘takeover’
Workers of the Ghana National Gas Company are up in arms against government’s moves to allegedly hand over pipeline assets to the Bulk Oil Storage and Transportation (BOST). The local union of the General Transport, Petroleum & Chemical Workers Union (GTPCWU) has threatened to demonstrate against any such move. Speaking to Citi Business News the…
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TEN project to produce 23,000 bopd till end of 2016
The Tweneboa, Enyenra and Ntomme (TEN) Oil field which is scheduled to commence oil production next week is expected to produce over 23,000 barrels of oil per day (bopd) on average till close of the year. According to lead managers of the project, Tullow Oil Ghana Limited, the figure is expected to ramp up as…