Category: Oil And Gas
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Gold tumbles, oil hits 5-year low
Gold prices tumbled on Monday December 1st, 2014 after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum, joining a broad rout in commodities that sent copper and oil prices to four- and five-year lows. The slide in the oil and commodity prices is hurting many assets tied to the resource sector…
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Government is deliberately starving PIAC-ACEP
Energy and research think-tank, Africa Centre for Energy Policy (ACEP) has accused government of deliberately victimizing the Public Interest and Accountability Committee (PIAC) by starving them of funds. This follows the consistent failure of government to fully pay PIAC’s budgetary allocation which is affecting its smooth operation. The 13-member Committee inaugurated in 2011, didn’t…
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Tullow supports National Farmers Day celebrations
Tullow Ghana Limited (TGL) has presented an amount of GH₵35,000.00 to the Ministry of Food and Agriculture as its support for the 30th edition of the National Farmers’ Day celebration. Communications Officer, Kennedy Noonoo, presenting the cheque on behalf of Tullow Ghana explained that this year was the first time the company was sponsoring the…
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ACEP welcomes GNPC-GNGC merger
Energy think-tank, the African Centre for Energy Policy (ACEP) has welcomed the announcement of the takeover of the Ghana National Gas Company by the Ghana National Petroleum Corporation (GNPC). According to the finance minister Seth Tekper, the move is expected to enhance a more integrated management and continued financing of projects in the oil and…
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GNPC to takeover Ghana National Gas Company
Government has announced the Ghana National Petroleum company Company (GNPC) will take over the management and operations of Ghana National Gas Company (GNGC). The Ghana gas takeover is expected to make GNPC a stronger company with enough muscles to compete on the global stage. According to Finance Minister Seth Tekper ‘the consolidation of GNPC and…
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Atuabo Free Port Ghana Limited to list on Ghana Stock Exchange
Atuabo Free Port Ghana Limited, is expected to list on the Ghana Stock Exchange soon after it commences operations. The 600 million dollar joint project between Ghanaian institutions and a foreign investor is expected to commence in the second quarter of 2015. The project expected to be completed in 25 months would provide port facilities…
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MODEC workers likely to strike again over ‘good behavior contract’
There seems to be renewed tension between management of MODEC, operators of the FPSO Kwame Nkrumah and Ghanaian workers of the company, days after they called off their strike. This follows the refusal of the workers to sign onto an undertaking to be of good behavior before they are allowed back onto the rig. The…
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We will not reduce fuel prices-NPA
Prices of petroleum products will not be reduced in the next price review by the National Petroleum Authority (NPA). According to the NPA, which undertakes the price review every two weeks, it will not review downwards the prices, despite a drop in the price of crude oil on the world market. Crude oil prices hit…
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Energy Minister inspects electrification projects in W/R
The Minister of Energy and Petroleum, Emmanuel Kofi Buah, has visited some ongoing and completed electrification projects in parts of the Central and Western Regions to acquaint himself with progress of work. The visit was also to interact with leaders of beneficiary communities on proper energy conservation practices among others. The Minister’s visit forms part…
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KIPP US$ 900 million project signed
A 900 million dollar agreement has been signed for the construction of the Kpone Independent Power Plant (KIPP). The project being undertaken by Cenpower Generation Company, when completed in 2017, will be the largest private IPP in the country. It will account for approximately 10% of Ghana’s total installed capacity and approximately 20% of…