Category: Oil And Gas
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Cedi depreciation drives away benefit from declining oil prices
Some industry watchers in the petroleum sector have ruled out a possible decline in the prices of petroleum products at least with the continuous depreciation of the cedi. [contextly_sidebar id=”O8rQsj4mVtwcxgwPHbzjabIX6nMn6deL”]According to them, the situation will also come as a disincentive to consumers as they are likely not to benefit from the stability on the global…
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NPA moves to protect consumers from oil price hikes
The National Petroleum Authority (NPA), the body regulating operations of the petroleum downstream sector says it will protect consumers of petroleum products from a possible increase in the global price of crude oil. [contextly_sidebar id=”7dasUw4LXuRCJe3Uukqrd7Dk4vPpJwVy”]This is the assurance coming from the Chief Executive of the NPA, Moses Asaga. According to him, the move is to…
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Allied oil tops cheapest oil price rankings
Allied Oil has been adjudged the best Oil Marketing Company (OMC) offering the best price for diesel and petrol at the pumps. [contextly_sidebar id=”u3mMneZ8ZMoE1fKpM5WTFtToSDSpov9o”]This is according to the Chamber of Petroleum Consumers. In all ten oil marketing companies were surveyed. Allied placed number one with the best price at the pumps while SO Energy placed…
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ECG sheds 400MW of power Monday
The Ghana Grid Company (GRIDCo) has asked the Electricity Company of Ghana to shed a total of 400 megawatts of power today [Monday]. “Gridco has requested for 400MW load relief from ECG between 18:00hrs and 06:00hrs due to insufficient power generation.” [contextly_sidebar id=”aWDobpXOXlDzLTHbfQi3J5XIhtImAZHp”]The shedding covers six regions in the country. They are: Accra (140MW), Ashanti…
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New partner for national airline to be named in 2016
The Ministry of Transport has hinted to Citi Business News that the search for a partner for Ghana’s new national airline would be completed by January 2016. [contextly_sidebar id=”Bu9kYOnGwJpLRcO3lGm4wQJ9CWga4mwt”]According to the Ministry transaction adviser PricewaterhouseCoopers (PWC) will by the close of this month open tender for competitive bidding, paving way for both domestic and international…
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Ghana begins building 3rd FPSO
Ghana has begun building its third Floating Production Storage and Offloading (FPSO) vessel as part of moves to make the country an oil hub in West Africa. [contextly_sidebar id=”t3qyf7Q1Z5MO1gOqzBDRzGfRV4MM7wyn”]This comes after the country completed the OCTIP Sankofa gas project negotiations at a cost of 7 billion dollars endorsed by World Bank and the IFC. The…
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Inflation rises to 17.4 percent
Inflation for the month of September 2015 increased to 17.4% compared with the 17.3% recorded in August. [contextly_sidebar id=”kILjImY1F14pZyYrkv2KNeRUImh8p01d”]The monthly change rate for August is minus 0.1% while that of August was minus 0.7%. The food inflation rose to 7.8% compared to the 7.7% recorded for August, where as non food inflation recorded 23.2% which…