Category: Oil And Gas
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Fuel prices may go up by 16 pesewas soon – COPEC
As global crude oil prices continue to increase the Chamber of Petroleum Consumers, COPEC, is hinting of an up to 16 pesewas hike in fuel prices at the pumps in the coming days. In an interview with Citi Business News, Executive Secretary of COPEC, Duncan Amoah called on authorities to put measures in place to…
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Cedi depreciation and taxes quadruple domestic fuel prices in the last decade – IES
Over the past decade (2010-2019), Ghana has seen a 347 percent increase in price of Gasoline (Petrol) and a 338 percent increase in Gasoil (Diesel) price at the pump, largely because of Cedi depreciation, taxes and levies. Analysis of data from the Energy Commission (EC), National Petroleum Authority (NPA) and IES’ MarketScan show that by…
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Aker Energy appoints Kadijah Amoah as CEO of Aker Energy Ghana Limited
Aker Energy AS has promoted Country Director, Mrs. Kadijah Amoah as Chief Executive Officer, CEO, of Aker Energy Ghana Limited, effective 4 January 2021. In a statement issued by the company, CEO of Aker Energy AS, Håvard Garseth, notes that, the move shows Aker Energy’s commitment to become a fully Ghanaian operator managed and run…
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Fuel prices to go up slightly in 1st pricing window of February – IES
Consumers of petroleum products should be paying slightly higher prices for the fuel they purchase at the country’s various pumps for the next two weeks which is the first pricing window for February, 2021. According to an analysis by the Institute of Energy Security, IES, the increase can be attributed to the 3.9% increase in…
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Global oil prices to hit 60 dollars a barrel, 1st quarter 2021 – Analyst
Energy Consultant, Dr Yussif Sulemana is predicting that oil prices on the global market are likely to hit 60 dollars per barrel in the first quarter of 2021. Currently, Brent crude oil is selling for about 55.78 dollars per barrel increasing by a little over 4 dollars since the start of the year. Dr Sulemana…
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Rigworld training expands with purchase of SMTC Ghana
Rigworld Training Centre (RTC) and SMTC Global Ghana have signed an agreement which will see Rigworld Training acquire 100 percent of the SMTC Ghana Training Facility. This means, RTC would assume all training services being provided through SMTC Ghana. SMTC has operated in partnership with the Regional Maritime University (RMU) within its campus in Nungua,…
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PIAC elects Professor Kwame Adom-Frimpong as its new chairman
The Public Interest and Accountability Committee (PIAC), the statutory body with oversight responsibility of the management and use of the country’s petroleum revenues, has elected Professor Kwame Adom-Frimpong as its new chairman. A statement issued by PIAC stated that, “Professor Adom-Frimpong, who represents the Institute of Chartered Accountants, Ghana (ICAG) on the Committee, was elected…
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Government must appoint only qualified persons to energy sector boards – COPEC
The Chamber of Petroleum Consumers (COPEC) has called on the government to ensure that only persons with requisite knowledge and expertise are assigned to manage the various energy sector institutions. A recent circular from the government on January 7, 2021, had indicated a dissolution of the various boards and corporations in accordance with the country’s…
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AfCFTA and Dangote’s refinery will make fuel cheaper – Energy Consultant
Energy analyst and lead technical consultant to the Chamber of Petroleum Consumers (COPEC), Dr Yussif Sulemana says the African Continental Free Trade Area Agreement (AfCFTA) coupled with the establishment of a state-of-the-art refinery by Nigerian businessman Aliko Dangote stand the potential to significantly reducing the cost to refined crude products on the continent. He stated…
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Ghana set for first sub-saharan African LNG-to-power project
Ghana is set to open sub-Saharan Africa’s first liquefied natural gas-to-power project as it moves to position itself as a hub for the cleaner and cheaper fuel in the region. This is according to the Bloomberg Quint. LNG-to-power projects have been booming from Asian to Latin American in recent years as they allow nations to…