Category: Oil And Gas
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GHEITI introduces beneficial ownership addresses for transparency in extractive licensing procedures
The Ghana Extractive Industry Transparency Initiative (GHEITI) says enough progress has been made in tackling the issues of obscure licensing procedures and concealed ownership. Dr Steve Manteaw, the Co-Chair of the GHEITI, at a dissemination workshop, highlighted the significant progress that was made in promoting transparency and accountability within the extractive industry, leading to solving…
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Govt. urged to ensure full implementation of local content law
Energy analyst, Benjamin Nsiah has emphasized the crucial role of relevant stakeholders in ensuring the full implementation of the local content policy to foster the growth of the local economy. He highlights the importance of leveraging the recent developments in the oil and gas industry, particularly the commissioning of Jubilee South East in the Western…
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GNPC CEO scoops top African industry leadership award in Oil & Gas
The Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC), Opoku-Ahweneeh Danquah, has been adjudged the winner of the coveted Oil and Gas Industry Leadership Award for the year 2023 at the just ended 4th edition of the Africa Public Sector Conference and Awards (APSCA 2023). The award ceremony was held on Friday…
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We can’t keep our power plants on if payments are not consistent – IPPs
The Chief Executive Officer (CEO) of the Independent Power Producers (IPPs), Elikplim Kwabla Apetorgbor has indicated that the IPPs will only take on the threat of shutting down their plants only if promises made to them by the government are not fulfilled. “It is not about the threat to shut down, it is about our…
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ECG settles June, July payments to IPPs
Citi Business News has gathered that the Electricity Company of Ghana (ECG) has settled debts to all Independent Power Producers (IPPs) for the months of June and July after earlier concerns expressed by the power generation companies. Sources close to Citi Business News confirm that all the IPPs have received a second payment for current…
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BOST net profit increases by 112% in 2022, currently at GH₵342m
The net profit margin of the Bulk Oil Storage and Transportation Limited Company (BOST) has increased from GH₵161 million in 2021 to GH₵342 million in 2022. This was disclosed by the board chairman of BOST, Mr Ekow Hackman, during the institution’s 2nd annual general meeting held at their office in Accra on Thursday, August 17,…
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Govt supporting efforts to make TOR best refiner in Africa – NAPO
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production. According to the sector minister, any positive gains recorded by the state-owned refinery would help cushion the government in its operations. Speaking at the 2nd Annual General Meeting of…
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Petrol to sell at GHS12.97, diesel GHS13.43 per litre – COPEC
The Chamber of Petroleum Consumers (COPEC) is predicting that fuel prices may go up by 5.7% within the second pricing window of August 2023. The product is currently being sold at the pumps at an average price of GH¢12.45 per liter. COPEC says the price of LPG will also increase to about 11.9% within the…
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Managing Director of TOR resigns
The Managing Director of the Tema Oil Refinery (TOR), Jerry Kofi Hinson has resigned on health grounds, according to a letter sent to President Nana Akufo-Addo. Mr Hinson in his letter dated August 11, 2023, stated that he is unable to continue his role as the MD due to unforeseen health circumstances. “It has been…
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![The crucial role of IPPs in ensuring energy security and fueling developing economies [Article]](https://citibusinessnews.com/wp-content/uploads/2023/08/Elikplim-Kwablah-Apetorgbor-512x375-1.jpg)
The crucial role of IPPs in ensuring energy security and fueling developing economies [Article]
conoIn an era where energy is the lifeblood of progress, the role of independent power producers (IPPs) emerges as a beacon of innovation, resilience, and transformative change. As developing economies strive to carve a path toward prosperity and self-sufficiency, the significance of IPPs in bolstering energy security and driving economic growth cannot be overstated. This…