Category: Oil And Gas
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Subsidize LPG to sustain free distribution project-ACEP
The Africa Centre for Energy Policy (ACEP) is asking government to subsidize Liquefied Petroleum Gas (LPG) to sustain the free rural LPG cylinders distribution project. The program which is aimed at halting the burning of charcoal has not yielded the desired results. Reports indicate that beneficiaries of the project are selling the cylinders because they cannot…
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NPA maintains prices of petroleum products
Users of Petroleum products have again been spared of an increase in the prices of fuel. The National Petroleum Authority (NPA) in its latest review of the prices of petroleum products maintained the last rates. The review takes effect from today. Petrol is still going for 3cedi 36pesewas per litre, diesel 3 cedis 27 pesewas,…
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Energy Minister defends emergency power badge contract
Energy and Petroleum Minister Emmanuel Buah has defended government’s move to go in for emergency power barges, despite calls by stakeholders that other alternatives should be pursued. The ministry weeks ago announced government had entered into a contract with a Turkish company, Karpower International Limited, to provide two power barges which will contribute about 450…
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Give priority to Ghanaians in oil contracts-NRGI
The Natural Resource Governance Institute (NRGI) is demanding that Ghanaians are given priority in the awarding of contracts in the upstream petroleum sector. This comes after the Energy ministry revealed that Ghanaian companies in the oil and gas sector have received close to 600 million dollars in contracts since Ghana started drilling oil in 2010.…
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NRGI warns hedging could lead to massive losses
The Natural Resource Governance Institute (NRGI) is warning that Ghana risks making some significant losses if cabinet approves the hedging proposal from the Energy ministry. The ministry wants to start quarterly hedging to avoid huge debts accumulating from subsidizing price differentials on petroleum products. Despite earlier reports that the Energy ministry will start hedging on September…
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Turkish firm to build emergency power ships for Ghana
Karpower International Limited a Turkish company is expected to build two emergency power ships for Ghana. The project will be pre-financed by Karpower and the cost would be paid on the amount of energy delivered to the system. The two mobile energy plants when delivered will add four hundred and fifty more megawatts of power…
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Gas plant to cater for 70% of Ghana’s LPG needs
The Ghana gas plant is to cater for 70% of the country’s Liquefied Petroleum Gas (LPG) needs when the plant comes on stream by the close of the year. According to the Minister of Energy and Petroleum Emmanuel Kofi Buah “The good news is that in the coming years we are going to have a…
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New EU sanctions to hit Russian oil giants
New EU sanctions against Moscow due to be announced on Monday will likely limit access to financial markets by Russian oil companies Rosneft and Transneft plus the petroleum unit of gas giant Gazprom, diplomatic sources said. Since the three companies are more than 50-percent state-owned, they “meet the criteria” laid down in a tough new…
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Acute fuel shortage ends
Citi Business News checks at various fuel pump stations in the Greater Accra Region shows the acute shortage of fuel that hit some parts of the region last week has ended. Many fuel stations in the capital, as well some regions across the country were hit with an acute shortage of fuel last week. A…
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Kosmos sets up advisory council to support Ghana’s needs
Kosmos Energy Ghana HC, a wholly owned subsidiary of Kosmos Energy Ltd, announced today the creation of an independent advisory council to enhance the company’s ability to support Ghana’s needs as a developing economy. By listening to the advice and insights of respected business leaders, Kosmos is preparing to play a more active role in…