Category: Oil And Gas
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TOR: 3-member interim management committee sworn in after firing of MD and deputy
The Minister for Energy, Dr. Matthew Opoku Prempeh, has sworn into office a 3-member Interim Management Committee (IMC) to oversee the affairs of the Tema Oil Refinery as part of efforts to restructure and revamp the refinery. The Chairman of the 3-member IMC is Mr. Nobert Cormla-Djamposu Anku. The other members are Mr. William Ntim…
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Relocating Ameri plant unnecessary and wasteful – The Energy & Associates
Civil Society Group, The Energy and Associates says it is strongly against the government’s plans of relocating the Ameri Thermal Plant from Aboadze to Anwomaso in Kumasi, Ashanti Region. According to the group, the move is “wasteful” and “unnecessary” given the fact that government is finding it very difficult to pay debts it owes in…
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ENI, Springfield await further directive from government on unitisation of oil fields
The two key actors in the ongoing ENI-Springfield unitisation saga have laid responsibility for the next line of action in resolving the impasse, at the doorstep of government. Despite agreeing to the need for an early mutually beneficial solution to be arrived at, the two companies still disagree on whether or not there should be…
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Togbe Afede XIV seeks cooperation with West African Power Pool Secretariat
As part of efforts to bring development across the ECOWAS subregion, Togbe Afede XIV and his investment partners – Shenzhen Energy Group have sought audience with the Secretary General of the West Africa Power Pool in Benin to explore opportunities for cooperation in the development of the viable WAPP Priority Generation Projects. The Secretary General,…
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Tullow oil & partners to invest additional $4.2 billion in Jubilee and TEN fields
Tullow Oil and its partners are set to invest over $4 billion dollars into the Jubilee and TEN fields focusing on new wells and infrastructure over the next 10 years as part of an ambitious ‘Value Maximization Plan’ that is expected to deliver consistent revenue and value to Ghana. This was disclosed by the Chief…
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Third party assessment can resolve ENI/Springfield unitisation impasse – Egyapa Mercer
Deputy Minister-designate for Energy, Andrew Egyapa Mercer, has called for the introduction of a third-party assessment of the directives on the unitisation of the Afina and Sankofa fields. This follows a delay in the two companies joining forces to explore the Afina and Sankofa fields. It will be recalled that former Energy Minister, John Peter…
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BOST justifies recent margin increase in petroleum price buildup
The Bulk Oil Distribution Company, BOST, has justified the recent increment in its margins which are part of the petroleum price buildup at the pumps. The company stated that the margin is key to ensuring it can run its daily operations. The Managing Director of BOST, Edwin Provencal, said although the financial status of his…
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Dangote Refinery 88% complete – Corporate Strategy Officer
Ghana, together with other West African countries, will soon cut down the importation of petroleum products, with the imminent completion of the 650,000 barrels-per-day (bpd) Dangote Refinery at Ibeju-Lekki area of Lagos, Nigeria. The Group Chief Corporate Strategy Officer for the Dangote group, Aliyu Suleiman, announced this at a virtual conference hosted by the Ghana…
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Fuel prices may rise marginally in first pricing window of June – IES
Consumers of petroleum products might be paying slightly higher prices for the fuel they purchase at the country’s various pumps as we enter the month of June. According to an analysis by the Institute of Energy Security (IES), the increase can be attributed to the 3.50% rise in price of Brent crude, together with the…
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ExxonMobil pulls out of Ghana, abandons oil fields
US oil and gas company, ExxonMobil has pulled out of Ghana, abandoning its exploration activities in the Deepwater Cape Three Point Block in the Western Region. The company in a letter to the Minister of Energy, Matthew Opoku Prempeh, copied to the Petroleum Commission and Ghana National Petroleum Corporation, (GNPC) and sighted by Citi Business…