Citi Business News

Category: Oil And Gas

  • Goil maintains prices of petroleum products as deregulation kicks off

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    State owned oil marketing company Goil stayed away from increasing the prices of its petroleum products as full deregulation of the downstream petroleum sector took effect today 16th June,2015. [contextly_sidebar id=”dlcqE1xPRPzsYMMT5cH68Ig9n0wLX1ya”]A number of Oil Marketing Companies (OMCs) increased the prices of their products this morning after the National Petroleum Authority announced yesterday evening that the…

  • Fuel prices up by 14 pesewas

    Fuel prices up by 14 pesewas

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    Citi Business News has learnt some Oil Marketing Companies (OMCs) have sanctioned a 14 pesewa increase in prices of petroleum products. [contextly_sidebar id=”H2UALSofwSKGgDvNdTczhR7qOOJWzYxz”]This follows the implementation of the full deregulation of the petroleum downstream effective today. A visit to the Total pump station in Adabraka this morning revealed Petrol was being sold at 3 cedis…

  • Tullow, Jubilee partners support June 3 disaster victims

    Tullow, Jubilee partners support June 3 disaster victims

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    Tullow Oil and the Jubilee Partners have presented a cheque for GH₵500, 000 to the 37 Military Hospital to assist them in the delivery of medical care to victims of the recent floods and fire disaster. [contextly_sidebar id=”ToHosxznD6jHhJ041LH14d0D8D5za1ku”]Managing Director of Tullow Oil, Charles Darku, who made the presentation, told journalists that the gesture was a…

  • OMCs to display fuel prices from today

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    Oil Marketing Companies (OMCs) will start announcing their ex-pump prices for petroleum products and display these prices at their retail outlets from today June 16th, 2015. [contextly_sidebar id=”ux4Yw64KGwylMTSYrk5c7p30ICL0Ikcj”]This is according to a statement issued by the National Petroleum Authority (NPA). The NPA made known its intentions to no longer be involved in the pricing of…

  • Massive fraud scam hits Tullow Ghana

    Massive fraud scam hits Tullow Ghana

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    Lead operator of the Jubilee oil field, Tullow Oil has warned the public against fraudsters who are using the company’s name to swindle people of huge amounts of money. [contextly_sidebar id=”Xyx9KUnnrZpfB3l8UjlkDnQnyfw77kdn”]A public notice by Tullow Oil released today June 15th, 2015, cautioned the public against falling for contract award proposition scams and employment fraud. According…

  • We trust BDCs to fairly price fuel – Moses Asaga

    We trust BDCs to fairly price fuel – Moses Asaga

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    The National Petroleum Authority (NPA) has said it trusts the Bulk Oil Distribution Companies (BDCs) to fairly price petroleum products. [contextly_sidebar id=”TdOTAHvlDTrHocCwzyTwt1Te9EhXMuLf”]The Authority’s Chief Executive Officer (CEO), Moses Asaga on the Citi Breakfast Show said although his outfit will no longer be involved in the pricing of petroleum products, it will still have an oversight…

  • BDCs to start setting petroleum prices this month

    BDCs to start setting petroleum prices this month

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    Government has confirmed to Citi Business News that the National Petroleum Authority (NPA) will not be involved in the pricing of petroleum products effective June 15. [contextly_sidebar id=”EqnkzxIBCdUOdcmlZh0csPiaDaNSd7qb”]This is part of the full deregulation of the petroleum downstream sector. Bulk Oil Distribution Companies (BDCs), importers of the petroleum products will be allowed the free hand…

  • Agreement ends Nigerian fuel impasse

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    A major fuel strike which left domestic airlines grounded, gas stations dry, and banks closing early has been resolved. [contextly_sidebar id=”XRzmgEglSDOXF6cgMd007f4t3MneoDJp”]Fuel wholesalers had stopped distributing petroleum, claiming the government owed them $1 billion. Government officials said the wholesalers had been fully paid. Peter Akpatason, recent president of the Nigeria Union of Petroleum and Natural Gas…

  • Tullow justifies dismissal of Ghanaian workers

    Tullow justifies dismissal of Ghanaian workers

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    Tullow oil PLC has justified the dismissal of close to 70 of their workers in Ghana despite revelations that their operational cost for drilling a barrel of crude stands at 10 dollars. [contextly_sidebar id=”NNpStwXKuTwsKYLtNe1hFaZxzNmo3QYK”]The lead operator of the jubilee field, Tullow Oil Ghana blamed the decision to lay off the workers on the plunge in…

  • OPEC unlikely to cut output

    OPEC unlikely to cut output

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    The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday. Asked if OPEC would cut output at the upcoming June 5 meeting, Iran’s Deputy Oil Minister Rokneddin Javadi told Reuters: “I don’t think so.” Iran, along with…