Category: Oil And Gas
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Ghana’s second FPSO John Evans Attah Mills tour (Photos)
Ghana’s second FPSO John Evans Attah Mills is expected to commence production of oil in the first week of August this year. This was disclosed during the tour of the facility by a team of media and officials from Tullow and other partners. The FPSO is currently undergoing commissioning and testing to give way…
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Jubilee Partners to meet in UK over damaged turret bearing
Partners of the Jubilee field are expected to meet in London next week to decide on the most appropriate option to adopt for the repair of the damaged turret bearing on the FPSO Kwame Nkrumah. This is according to the CEO of Ghana National Petroleum Corporation (GNPC), Alex Mould. According to him, the meeting has…
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Ghana Gas increases gas supply to VRA
The Ghana National Gas Company Limited (Ghana Gas), has told Citi Business News of an increased supply of gas from the FPSO Kwame Nkrumah following the resumption of operations on the floating vessel on Wednesday, July 13, 2016. According to the company, it has therefore increased its supply of gas to the VRA by about…
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Revealed: VRA debt to banks up to 4 billion cedis
Citi Business News can confirm that debts owed banks by the Volta River Authority (VRA) alone are now in excess of 1.1 billion dollars, coming up to about 4.4 billion cedis. Documents seen by Citi Business News reveal that the state owned company’s indebtedness to a number of banks alone as at March, 2016 was about…
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FPSO resumes gas production after shutdown
Gas has begun flowing at the FPSO Kwame Nkrumah after a temporary shut down yesterday due to faults on all Fire and Gas systems as well as VFD monitors on the facility. The operators have since rectified the issue which has led to the activation of the Fire and Gas System of the facility hence…
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Govt to directly service CDB loan to Ghana Gas
Citi Business News has gathered that government is seeking to directly use the outstanding debts owed the Ghana National Gas Company by the VRA, to service part of the Chinese Development Bank (CDB) loan facility Ghana Gas secured to construct the Atuabo Gas Processing Plant. Sources within the Finance Ministry say a committee comprising of…
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Blackouts to worsen as VRA loses 230 MW power in Aboadze
Ghanaians experiencing intermittent power outages should brace themselves for the worst should the cuts in gas supply from the Ghana National Gas Company to the Aboadze power enclave continue. This is the caution coming from engineers of the Volta River Authority (VRA). It comes on the back of the fact that Tullow Oil – operator of…
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Probe Saltpond Oil prices for 2015 – GHEITI to GRA
The Ghana Extractive Industry Transparency Initiative (GHEITI), is demanding that the Ghana Revenue Authority (GRA) investigates what it describes as a possible breach of law, oil prices quoted by operators of the Saltpond Oil fields for 2015. The 2015 PIAC report revealed that crude oil lifted from the Saltpond Oil field was sold at 50…
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Blackouts likely to intensify due to Nigerian strikes
Ongoing blackouts in Ghana are likely to linger for a while as workers in Nigeria’s oil industry intensify their industrial action. The Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN) has embarked on a severe strike over some unresolved industry issues with the central government. The development is expected to completely shutdown all…
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Ghana losing tax revenue to extractive sector over lack of data
The absence of adequate data on the operations of businesses in the extractive sector continues to impede the GRA’s ability to fully implement Ghana’s transfer pricing policy. According to the Deputy Commissioner in charge of Policy Programs at the GRA, Edward Gyamerah, the issue makes it difficult to fully assess operational costs quoted by the…