Category: Oil And Gas
-
Freddie Blay maintained as Board Chair of GNPC
The President, Nana Akufo-Addo, has re-appointed Freddie Blay as the Board Chair of the newly re-constituted seven-member board of the Ghana National Petroleum Corporation, (GNPC). Freddie Blay who has served as Board Chair for the past four years will continue in the same capacity. Mr. Blay is expected to support the management of GNPC, led…
-
Increase Ghana’s oil storage capacity as global prices fall – Dr Sulemana to government
As oil prices on the global markets continue to fall, Energy Consultant, Dr Yussif Sulemana says the government must strive to increase its storage capacity. He argues that this will help cushion the country when prices begin to rise. According to him, “Ghana must have massive storage ability and the reason is that, when these…
-
Address valuation and secrecy concerns raised against GNPC-Aker Energy deal – CSOs to government
A group of civil society organisations working in the extractive industry has asked government to take steps to address concerns raised against moves to increase the country’s stakes in oil blocks operated by Aker Energy and AGM Petroleum Ghana. The group had earlier expressed worry over the valuation of the company, among others. A member…
-
COPEC blames recent fuel price hikes on cedi depreciation
The Chamber of Petroleum Consumers says the current increase in fuel prices is largely due to the recent depreciation of the Ghana Cedi. Fuel prices at the pumps of major oil marketing companies shot up from about GH¢6.28 to GH¢6.35 over the weekend, an increase that many consumers have expressed concern over. In an interview…
-
OMC’s likely to repeat infractions in audit report if GRA refuses to ‘bite’ – COPEC
The Chamber of Petroleum Consumers (COPEC), says some Oil Marketing Companies (OMC’s) in the country are likely to default on the payment of taxes on petroleum products lifted from the Tema Oil Refinery (TOR) next year if political interference in the affairs of the Ghana Revenue Authority (GRA) is not halted. The 2020 report of…
-
GRA charged to retrieve GH¢226.9 million in unpaid taxes from 28 OMCs
A 2020 report of the Auditor-General has revealed that 28 Oil Marketing Companies in the country owe the Customs Division of the Ghana Revenue Authority an amount of GH¢ 226.9 million. According to the audit report, the 28 OMCs from July 2018 to December 2019, lifted various petroleum products without paying the required duties and…
-
Akufo-Addo appoints Kofi Dzamesi as CEO of Bui Power Authority
A former Minister for Chieftaincy and Religious Affairs, Samuel Kofi Dzamesi has been appointed as the Chief Executive Officer of the Bui Power Authority. His appointment was confirmed in a letter signed by the Chief of Staff, Akosua Frema Osei-Opare on July 30, 2021. “Pursuant to Section 9 (2) of the Bui Power Authority Act,…
-
GNPC’s plan to increase stake in Aker and AGM troubling – CSOs
News of efforts by the Energy Ministry to get Parliament to give them, along with the Ministry of Finance the mandate to agree on a purchase price with Aker Energy and AGM, in connection with plans by the Ghana National Petroleum Corporation (GNPC) to acquire stakes in the two oil and gas companies, has generated…
-
CSOs petition Parliament over GNPC’s move to acquire stakes in Aker Energy, AGM Petroleum
A group of civil society organisations working in the extractive industry are calling on Parliament to reconsider the planned acquisition of stakes in Aker Energy and AGM Petroleum Ghana oil blocks by the Ghana National Petroleum Corporation (GNPC). The group made up of 15 civil society groups, said the possible merits of the deal “cannot…
-
Akufo-Addo appoints former Ambassador to China Edward Boateng as TOR MD
President Nana Akufo-Addo has appointed Ghana’s former Ambassador to China, Edward Boateng as Managing Director of the Tema Oil Refinery (TOR). Mr. Boateng is expected to spearhead the transformation of the company. Edward Boateng who served as Ambassador from 2017 to 2020, takes office at the Tema Oil Refinery at a time when workers of…