Category: Oil And Gas
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Oil companies urged to help address negative impact of seaweeds on oil-enclave dwellers
Board Chairman of the Ghana National Petroleum Corporation (GNPC), Freddy Blay, has called on oil Companies and other stakeholders to take immediate steps to alleviate the sufferings of fishermen whose livelihood have been impacted negatively by the invasion of seaweed. According to Mr. Blay, the rising frequency with which seaweed wash ashore along the coast…
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NPA confident fuel prices will be stable in November
The National Petroleum Authority, NPA, is confident that the two-month removal of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG will provide the desired relief to Ghanaians when it takes effect. According to the Authority, it will do everything within the law to ensure that the Price Stabilization and Recovery levy…
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Africa must hasten slowly in discarding hydrocarbons – Dr. Amin Adam
A deputy Energy Minister, Dr. Mohammed Amin Adam, says African countries ought to exercise some patience in adopting cleaner sources of energy. According to the Energy And Petroleum Economist, the recent energy crisis in Europe should be clue enough that no economy can depend solely on the “so-called cleaner sources of energy”. Dr. Amin Adam…
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Court dismisses ENI’s request for review of unitization directive
The commercial division of the Accra High Court dismissed a judicial review application brought before it by ENI Ghana Exploration and Production Limited and Vitol Upstream Ghana Limited. The review application was in connection with a number of directives given by then Energy Minister John Peter Amewu for the unitization of ENI’s Sankofa oil field…
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Plans to kick out foreign players in Ghana’s downstream oil sector counterproductive – Henry Akwaboah
The Former Chairman of the Association of Oil Marketing Companies, Henry Akwaboah, says the government’s plans to aggressively implement a local content law on the downstream sector risk dwindling investor confidence in the country. This follows some moves by the government to increase local participation in the space. Henry Akwaboah says if this is not…
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November 1st presents earliest opportunity for removal of PSRL – NPA
The National Petroleum Authority (NPA) says the earliest opportunity for the removal of the Price Stabilisation and Recovery Levies (PRSL) in the price build-up of petrol, diesel and Liquefied Petroleum Gas (LPG) would be the 1st of November. The NPA on the 11th of October announced that President Akufo-Addo had approved the removal of the…
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Energy Ministry debunks NDC’s claims of 7% fuel price hike
The Energy Ministry is debunking claims that fuel prices have increased by 7 percent at the pumps. This comes on the back of comments by the National Democratic Congress on the recent price increases at a press briefing on Monday, October 18, 2021. Fuel prices went up over the weekend after similar increases in previous…
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Scrapping of PSRL stalls as fuel prices rise to GH¢6.80 per litre
The much-anticipated removal of the Price Stabilization and Recovering levy of 16 pesewas in the price build-up of fuel at the pumps is yet to take effect even as the second pricing window commences. This is because Parliament is yet to give the National Petroleum Authority (NPA) the approval needed to scrap the levy. While…
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NPA approves 2-month removal of Price Stabilisation, Recovery levy to reduce fuel prices
The National Petroleum Authority (NPA), has approved the removal of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG for two months. This was announced in a press statement issued by the Authority’s Corporate Affairs Department today, October 11, 2021. “The National Petroleum Authority (NPA) wishes to inform the public that His…
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Increase petroleum imports from Ghana – NPA boss to sole Burkinabe importer
In a bid to improve petroleum products trade between Ghana and Burkina Faso, the National Petroleum Authority (NPA) is reviewing the export and transit arrangements with Societe Nationale Burkinabe d’Hydrocarbures (SONABHY). SONABHY is the only institution mandated by law to import and distribute petroleum products in Burkina Faso. The review is to among other things…