Category: Oil And Gas
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AMERI power plant begins commercial operations
The AMERI power plant has began full commercial operations. The power plant which commenced operations yesterday is expected to add some 250 MegaWatts of power to the national grid. The plant was initially expected to be commissioned on September 2015 but suffered a temporary setback as civil works on the compacted platform for the plant…
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Ghana Gas Company board dissolved
Board Chairman of the Ghana National Gas Company Dr Kwesi Botchwey has bid farewell to the company’s board. It follows the dissolution of the board. The move means all non executive board members of the Ghana National Gas Company will be bowing out. The members include Dr Valarie Sawyer, Mr Eric Nathaniel Yankah and William…
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TOR to begin operations by end of February
The Tema Oil Refinery (TOR) is set to resume operations this month. TOR which was scheduled to begin operations last week had to postpone it due to challenges with the Residual Fluid Catalytic Cracking (RFCC) Plant. But speaking to Citi Business News, the local Treasurer of the Professional Managerial Staff Union of TOR, Kofi Asante was…
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Atuabo Gas to shutdown again for maintenance works
Ghana National Gas Company (Ghana Gas), operators of the Atuabo Gas Processing Plant in the Ellembele District of the Western Region, say they will shut down the facility for routine maintenance works on Friday January 15, 2016. [contextly_sidebar id=”TuZk1HukMW0QTwb4e9mYBcwPFak1PLHx”]A statement signed by the Corporate Communications Manager of Ghana Gas, Alfred Ogbamey, said “the planned maintenance,…
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Fuel prices up by 27% from today
The latest increase of between 18 to 27 percent in the prices of petroleum products occasioned by the passage of the Energy Sector Levy (ESL) by Parliament last month, is expected to take effect from today [Monday] January 4. Although a good number of fuel stations say they will be effecting the changes today, Citi…
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Oil prices will reach $70 a barrel by 2020 – OPEC
Oil producers’ group Opec has said it expects oil prices to recover to $70 a barrel by 2020. [contextly_sidebar id=”vUZ7JA5lRHBnMqdLUvqa2RQ3H1n1V131″]Prices have fallen from more than $110 a barrel in the summer of 2014 to less than $37 a barrel now due to oversupply and slowing demand. But Opec said oil prices would begin to rise…
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Fuel prices reduce marginally
Some Oil Marketing Companies (OMCs) have reduced prices of petroleum products at the pumps following a decline in the global market price of crude oil. [contextly_sidebar id=”oN63wqMylqE27EQYZOnvKRppNPjGmkoc”]Crude prices have been sinking on the global market for some time now, this morning it sank deeper across the world closing at its lowest level since February 2009…
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Oil sinks below $35 as supply glut worsens
Crude prices sank deeper in Asian trading on Friday, Decmber 18, 2015 after the US oil benchmark closed at its lowest level since February 2009 on worsening oversupply concerns and a stronger dollar. [contextly_sidebar id=”tmCTxEUPMxfvCACBEbUXoaScaO98idlK”]At around 02:20 GMT, West Texas Intermediate (WTI) for January delivery was trading at $34.77 per barrel, 18 cents off its…
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Don’t drag Finance ministry into AMERI deal fray
The Ministry of Finance says it cannot be blamed for the alleged wrongful payments in the controversial AMERI power plant deal. According to its Chief Director, approval of payment for the contract, followed prior approval by cabinet and parliament respectively. [contextly_sidebar id=”CAZr5gKkbK1HKApEVFwIlQZtYnm5nEfR”]The power ministry has come under intense pressure for its alleged role in the…
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Oil giants predict gloomy times ahead for the industry
Oil giant Tullow is predicting tough times ahead for the oil industry in the coming months as prices of the commodity on the world market continue to decline. The price of a barrel of the commodity over the weekend fell below 40 dollars, the lowest since 2009. The price of Brent Crude fell 5.3% to…