Category: Oil And Gas

This weekend could be crucial for many consumers as Ghana’s National Petroleum Authority (NPA) meets to decide whether to increase the prices of fuel or not. It is widely speculated that on Tuesday July 1, 2014, fuel prices will go up by about 20% to enable oil distribution and marketing companies to recover the cost…

Gov’t must account for TOR debt recover levy – PEF

Jun 27, 2014

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The Private Enterprise Federation (PEF) is asking government to publsh the specific amount generated since the implementation of the Tema Oil Refinery (TOR) debt recovery levy in 2003. According to the PEF, more than GHC 1.1 billion has been generated since the introduction of the levy and should be able to prevent recurrent fuel shortages. The Chief Executive…

Stop restricting BDCs – PEF to Gov’t

Jun 27, 2014

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The Chief Executive Officer of the Private Enterprises Federation (PEF), Nana Osei Bonsu says government has no business in interfering in the market activity of the Bulk Oil Distribution Companies (BDCs). He accused government of making it difficult for private sector businesses such as the BDCs to operate. Nana Bonsu explained that “BDCs are private sector…

Government acquires Atuabo lands

Jun 23, 2014

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The government has compulsorily acquired lands on which the gas processing plant at Atuabo in the Western Region is situated. By the acquisition, the lands in dispute at Atuabo, the metering station of the gas project and the right of way for gas pipelines to Aboadze have all become the property of the state. The…

Fuel shortage to hit Ghana in a week – BDCs warns

Jun 21, 2014

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The Chief Executive Officer of the Chamber of Bulk Oil Distribution Companies (BDC), Senyo Hosi has cautioned government to stop subsidizing petroleum products to the detriment of the industry. According to him pricing of petroleum prices is out of the control of the politician. ‘’Is high time we all accept some few things, pricing is out…

India overtakes US as Nigeria’s biggest oil importer

Jun 20, 2014

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India has taken over from the US as the largest importer of Nigerian oil, the West African state’s national oil company has said. The US has “drastically reduced” its demand for Nigeria’s crude oil in recent months, the Nigerian National Oil Corporation said. The country is currently buying about 250,000 barrels a day. India now…

Cease giving conflicting dates on T3 – Gov’t warns VRA, TICo

Jun 19, 2014

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Government has warned it will no longer accept any excuse from both the Volta River Authority (VRA) and the Takoradi International Company (TICo) over the conflicting dates of completion of the T2 thermal Plant at Aboadze. The Energy and Petroleum Minister, Emmanuel Armah Kofi Buah made this known on his tour of the thermal plant.…

BDCs: Fuel shortage to hit Ghana soon

Jun 17, 2014

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The Chamber of Bulk Oil distribution Companies is warning of an imminent shortage of petroleum products in Ghana. According to the chamber, they will soon not be able to supply petroleum products because government has not paid an amount of over GHC 1.5billion due the bulk oil distribution companies (BDCs) from subsidies. They say, their…

NPA maintains prices of petroleum products

Jun 16, 2014

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