Category: Oil And Gas
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New directors of GOIL promise to improve the company’s profitability
Newly appointed directors of GOIL Company Limited have promised to prioritize the improvement of the company’s share value along with profitability during their tenure. Shareholders of GOIL at an Extraordinary General Meeting voted for and ratified the appointment of four individuals as new directors. The four include Mr. Reginald Daniel Laryea, Mr. John Boadu, Madam…
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Cynthia Lumor appointed as Deputy Managing Director of Tullow Ghana
Tullow Ghana has announced the appointment of Cynthia Lumor as Deputy Managing Director, effective October 1, 2021. Cynthia Lumor is the first to be appointed as Deputy Managing Director of Tullow Ghana since the company began its Ghana operations in 2006. As Deputy Managing Director, Cynthia Lumor will be responsible for the integration of the…
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Aker Energy, GNPC will engage you at the ‘appropriate time’ – Energy Ministry to Lukoil
The Ministry of Energy has responded to the Russian energy company, Lukoil’s concerns about being sidelined in the Ghana National Petroleum Corporation’s (GNPC) planned acquisition of stakes in Aker Energy and AGM Petroleum Ghana. In a letter to the Energy Minister, Lukoil said it has not been aware of and engaged in discussions of its…
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LUKOIL raises questions over government’s plan to increase its shares in DWT/CTP
International Oil & Gas Company LUKOIL has expressed concerns over government’s recent attempts to acquire a major stake in the Deepwater Tano/Cape Three Points (DWT/CTP) bloc operated by Aker Energy Ghana Limited. According to LUKOIL, being one of the main partners in the DWT/CTP project, with a 38% Licence Interest and a 42.22% Participating Interest,…
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Ghana must become shareholder in oil extraction to boost earnings – Energy Consultant
Energy Consultant Dr Yussif Sulemana says Ghana must move from relying on returns from royalties to maximise its revenues from the extractive industry. His comment is a reaction to an analysis done by the Institute of Fiscal Studies (IFS) that showed that Ghana’s revenue from its oil was about a quarter of that of Nigeria…
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New petroleum hub will give economy a major boost – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has expressed confidence in the ability of the upcoming petroleum hub, saying it will drastically improve the fortunes of Ghana’s petroleum industry. Parliament last year passed the Petroleum Hub Development Corporation Bill, to facilitate the establishment of a petroleum and petrochemical hub in the country, which will be provided with…
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We don’t expect ban on setting up of LPG stations to be lifted – Bureau of Public Safety
The Bureau of Public Safety says it does not expect the ban on the construction of Liquified Petroleum Gas (LPG) stations in the country to be lifted. It says it rather anticipates the green light for the siting of LPG cylinder recirculation distribution points to be given. Chief of Party at the Bureau of Public…
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Government supports GNPC’s decision to acquire stakes in Aker Energy, AGM Petroleum deal – NAPO
Government says it fully backs the decision by the Ghana National Petroleum Corporation, GNPC, to acquire stakes in Aker Energy and AGM Petroleum Ghana Limited. This is according to the Energy Minister, Dr. Mathew Opoku Prempeh. The 1.65 billion loan billion dollar deal has been met with stiff opposition from civil society organizations who say…
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BOST to take delivery of pipelines from US after 12-year delay
After a twelve-year delay, Ghana through the Bulk Oil Storage and Transportation Company Limited (BOST) will take delivery of some pipelines from the United States of America. The equipment cost the country a total of $63 million dollars, but an additional $8 million has already been used to repair some of the yet-to-be shipped pipelines…
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Parliament must ensure Aker Energy, AGM deal is value for money – ASEPA
The Alliance of Social Equity and Public Accountability (ASEPA) is urging Parliament to thoroughly scrutinise the deal by the Ghana National Petroleum Commission (GPNC) to increase its shares in Aker Energy and AGM Petroleum. Speaking during a press conference, Executive Director of ASEPA, Mensah Thompson, said the legislative arm of government must work to ensure…