Category: Oil And Gas
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Government must address fuel price hikes – TAGG
The Trade Advocacy Group Ghana (TAGG) is lamenting the frequent hikes in fuel prices. The Group says the development is skyrocketing their cost of doing business and stifling their growth. Fuel prices started the year at a little over GH¢ 4 per litre but currently, sell at GH¢ 6.50 per litre. President of TAGG, Kwadwo…
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Petrol and diesel prices to hit GH¢7 per litre if government does not intervene – COPEC
The Chamber of Petroleum Consumers (COPEC) says fuel prices at the pump may hit GH¢7 a litre if the government does not put measures in place to cushion Ghanaians. Speaking to Citi Business News, Executive Secretary of COPEC, Duncan Amoah stated that, “Fuel is now threatening to get to almost GH7 a litre. Currently, some…
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TOR staff interdicted over disappearance of fuel, transfer losses and others
The Tema Oil Refinery (TOR), has queried and interdicted some of its staff pending the conclusion of investigations into the disappearance of fuel, product storage, and transfer losses at the refinery. This is part of recommendations by an interim management committee, which was inaugurated in June 2021, to oversee the affairs of the company as…
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Tullow executives pay working visit to Ghana
The Senior Leadership Team (SLT) of Tullow Oil Plc, led by the Chief Executive Officer, Rahul Dhir are paying a working visit to Ghana. The visiting Executives will hold a series of engagements with key Government of Ghana stakeholders, including the Office of the Vice President, Ministry of Energy, the Bank of Ghana, the Ghana…
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BOST to take delivery of pipelines from USA in November
Ghana, through the Bulk Oil Storage and Transportation Company Limited (BOST), will take delivery of some pipelines from the United States of America to increase the Tema-Akosombo pipeline capacity. According to management of the company, the pipelines will arrive by November this year. The Managing Director of BOST, Edwin Provencal, during an interaction with the…
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BOST saved Ghana from paying $26 million to BDCs – Managing Director
The Bulk Oil Storage and Transportation Company Limited (BOST) says its current management has saved Ghana from paying $26 million to eight Bulk Distribution Companies. The eight companies had asked BOST to pay $37 million for 22.7 million litres of petroleum products which allegedly went missing from tanks of the national strategic oil storage company…
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CSOs write to Speaker of Parliament to invite interested parties in AGM-AKER deal
The Alliance of CSOs working on Extractives, Anti-Corruption, and Good Governance, has made a request to the Speaker of Parliament to invite all interested parties in the AGM-AKER deal. They are of the view that this will pave way for a transparent conversation on the issue. The request is captured as part of a letter…
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Ghana to assist Sierra Leone on petroleum downstream regulation
The National Petroleum Authority (NPA) has offered to assist its counterpart in Sierra Leone, the Petroleum Regulatory Agency (PRA), to improve efficiency in regulating the petroleum downstream in that country. In furtherance to this, a team from the NPA, led by its Chief Executive, Dr. Mustapha Abdul-Hamid paid a working visit to the Executive Chairman…
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Renegotiate old contracts in extractive sector – Economist urges government
Economist and lecturer at the University of Ghana, Dr. Adu Owusu Sarkodie has urged the government to consider renegotiating old contracts in the extractive sector which do not offer the country value for money. He also wants government to become an active participant in the production process in the extractive sector. Data from the Institute…
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COPEC reiterates calls for review of petroleum taxes to reduce fuel prices
The Chamber of Petroleum Consumers (COPEC) has reiterated calls for the government to remove the Price Stabilisation and Recovery Levy to avert the consistent increase in prices of petroleum products. Prices of fuel, particularly petrol, have increased from $694/MT as of 13th September 2021 to above $720/MT as of 16th September 2021 representing a 3.7%…