Category: Oil And Gas
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New Board takes office to steer affairs of Ghana Grid Company
The Ghana Grid Company has sworn into office, a new Board to oversee its affairs. The new composition comes at a time of rapid development and growth in the power sector, with key projects currently underway to establish consistent power supply and delivery across the country. The Board is led by His Excellency, Ambassador Kabral…
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Ghana losing out over ENI, Springfield unitisation stalemate – Kwame Jantuah
The Oil and Gas sector Chairman at the Association of Ghana Industries (AGI), Kwame Jantuah says time is running out for the unitisation of the oil fields of both ENI Ghana and Springfield Ghana. The remarks come two weeks after a court presided over by Her Ladyship Justice Mariama Sammo partly agreed with Springfield and…
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Springfield confident final court ruling will see to effective development of oil field
One of the key actors in the ongoing ENI-Springfield unitization saga, Springfield Exploration and Production Limited, says it is confident the final court ruling in the case involving the two parties will lead to the development of the Sankofa and Afina fields in a manner consistent with world-class practices. This comes after the recent ruling…
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Mixed reactions greet court order for ENI to pay 30% revenue into escrow account
The stalemate between ENI Ghana and Springfield Ghana over the directive by then Energy Minister John Peter Amewu to execute a Unitization and Unit Operating Agreement (UUOA), which some stakeholders say is denying the country of much-needed revenue, saw Springfield dragging ENI to court. Springfield prayed the court for a number of reliefs including an…
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Fix TOR and BOST to cushion consumers from fuel price hikes – COPEC
As fuel prices continue to rise at the pumps, the Chamber of Petroleum Consumers (COPEC) says the situation will not change until institutions like the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited run at full capacity. According to COPEC, once the entities commence operations, they should be able to…
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Deal with fuel smuggling, cylinder recirculation and petroleum price hikes – New NPA boss advised
Executive Director of the Institute for Energy Security (IES), Nana Amoasi VII, has urged the newly appointed Chief Executive of the National Petroleum Authority (NPA) Dr. Mustapha Abdul-Hamid, to prioritize resolving issues pertaining to fuel smuggling, cylinder recirculation and the continues rise in fuel prices at the pumps. President Akufo-Addo in a letter dated June…
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Akufo-Addo appoints Mustapha Hamid as NPA CEO
President Nana Akufo-Addo has appointed Dr. Mustapha Abdul-Hamid as the Chief Executive Officer of the National Petroleum Authority (NPA). He takes over from Hassan Tampoli, who is now MP for Gushiega and a Deputy Transport Minister-designate. The appointment takes effect from July 1, 2021. A letter from the President to Dr. Hamid dated June 17th…
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AOMC blames recent fuel price increase on hikes on global oil market
The Association of Oil Marketing Companies says the recent increase in fuel prices is due to a hike in the global oil market. Fuel prices at the pumps shot up from GHS6.05 to GHS6.23 over the weekend, an increase that many consumers have expressed concerns over. On the other hand, oil prices on the world…
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Fuel prices likely to go up soon – COPEC predicts
The Chamber of Petroleum Consumers (COPEC), is predicting another increase in petroleum prices at the various pumps in the coming days. COPEC wants the government to take swift actions to avert the increase. A recent hike already moved the price of petrol at some pumps from GHC 6.05 to GHC 6.23 per litter, leading to…
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Incoming TOR MD must be given clear KPIs to ensure success – COPEC
The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah has charged the Ministry of Energy to outline Key Performance Indicators for the next Managing Director to be appointed to steer the affairs of the struggling Tema Oil Refinery (TOR). The Minister Dr. Mathew Opoku Prempeh on Tuesday, June 15, 2021, inaugurated a…