Category: Oil And Gas

The World Bank’s Board of Directors has approved a record investment of $700 million in guarantees for Ghana’s Sankofa Gas Project – a transformational project that will help address the country’s serious energy shortages by developing new sources of clean and affordable natural gas for domestic power generation. [contextly_sidebar id=”1OOFa6YNR3Im1jjAoHQDtMHR3yPctjkb”]The Board approved a unique combination…

The worsening power crisis in the country is likely to ease soon if new projections from engineers on the FPSO at the Jubilee fields are anything to go by. [contextly_sidebar id=”4Oc3Z0wE656BDz0EPUhb05ZBx4kPkLs1″]The cut of gas exports from the jubilee fields by Tullow to Ghana gas early this month following a fault on the compressors on the…

Jubilee Operator, Tullow oil is confident the company’s hedging program will offset majority of losses it is likely to record this year following the decline in the price of crude on the global market. [contextly_sidebar id=”na8uFUmOM4O763ZmwT2ySIdCjU8rnTmD”]The oil giant who yesterday July, 29th, 2015 announced its half year results recorded a sales revenue of 820 million…

Citi Business News has gathered that the National Labour Commission (NLC) has directed the General Transport, Petroleum and Chemical Workers Union (GTPCWU) to commence negotiating severance packages for the 19 sacked Ghanaian MODEC workers on the FPSO Kwame Nkrumah. [contextly_sidebar id=”uvIt9nTfq6Ncv3WQJTxlY4kOj4VZ2xUl”]The NLC gave the directive after MODEC refused to reinstate the workers despite an MOU…

Tullow Oil Plc has announced that the export of gas from the Jubilee Field is likely to resume by mid-August. Presently, the company has mobilised a team of experts to rectify the fault within the gas compression system on the FPSO Kwame Nkrumah to reinstate gas export and full oil production. About two weeks ago,…

The National Petroleum Authority (NPA) has maintained the petroleum prices deregulation has started despite concerns from some market watchers that the authority still determines the  price of petroleum products. Minority Spokesperson on Energy, K.T. Hammond has argued that the NPA still has a hand in the pricing of petroleum products since the deregulation regime is…

The African Center for Energy Policy (ACEP) has lauded the Bulk Oil Distributing Companies (BDCs) for publishing the fuel price indicators. Speaking on the Citi Breakfast Show on Tuesday, the Executive Director at ACEP, Dr Mohammed Amin Adam described the BDCs as “heroes” of the petroleum-pricing regime. “I think that the heroes of this deregulation…

Contrary to calls by the Chamber of Bulk Oil Distributors (CBOD) for prices of petroleum products to be reduced by 25%, Citi Business News checks have revealed various Oil Marketing Companies have only sanctioned  a close to 15%  reduction in price of  petrol. [contextly_sidebar id=”AAsjqqoUU5ZdLZYTsFTzII3DIUOulz3L”]This follows the good performance of the cedi against the dollar…