Category: Oil And Gas
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Cash flow is important for IPPs – Cenpower Board Chair to Gov’t
Board Chairman of Cenpower Generation Company Limited, operators of the Kpone Independent Power Plant, says as government works around the clock to beat down the cost of power from Independent power producers (IPPs) the cash flow of companies also needs to be prioritized. In the past three weeks, government has agreed new power purchase agreements…
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98 oil contracts for local firms cancelled due to COVID-19 – Petroleum Commission
The Chief Executive Officer of the National Petroleum Commission, Egbert Faibille Jnr., has disclosed that some 98 contracts worth US$ 389 million have been cancelled due to the impact of COVID-19 on the Petroleum industry. These contracts were awarded by Aker Energy and four other oil companies from the fourth quarter of 2019 to the…
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Gov’t makes significant savings in gas supply agreement with Cenpower
Government and Cenpower Generation Company Limited (Cenpower), a major power producer in Ghana have successfully secured terms for a gas supply agreement, GSA. According to the agreement, Cenpower Generation Company Limited (Cenpower) has committed to switching its primary fuel from light crude oil (LCO) to natural gas and signed a gas supply agreement (GSA) with…
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Tullow Ghana records significant milestone of 300m barrels of oil from Jubilee Field
Tullow Ghana Limited, operator of the Jubilee and TEN fields, has recorded a significant milestone of 300 million barrels of oil production from the Jubilee field. Tullow and its partners GNPC, Kosmos, Anadarko and Petro SA, are an integral part of Ghana’s remarkable Jubilee story. With the support of the government of Ghana, the Jubilee…
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Fuel prices to reduce marginally towards end of 2020 – COPEC predicts
The Chamber of Petroleum Consumers, COPEC, has predicted that fuel prices in Ghana will continue to drop marginally for the rest of the year. The Chamber believes that based on happenings on the international oil market, consumers can expect to purchase fuel at reduced prices. Speaking to Citi Business News, Executive Secretary of COPEC, Duncan…
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Pay fuel suppliers regularly to ensure continuous power supply – IPPs to government
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB–Ghana) has questioned government’s commitment to regularly pay its members to ensure a continuous supply of power in the country. This comes days after Government announced an amended Power Purchase Agreement with CENIT Energy Limited, a Ghanaian independent power producer. According to the Chamber, government…
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Help reduce debts in Ghana’s energy sector – Government to IPPs
Government has called on Independent Power Producers (IPPs) in the country to help reduce debts and provide a stable energy supply for Ghanaians. The advice comes after the government successfully secured terms for an amended Power Purchase Agreement (PPA), with CENIT Energy Limited (CEL), a Ghanaian independent power producer. Per the agreement, CEL has decided…
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Government secures amended power purchase agreement with CENIT Energy
Government and CENIT Energy Limited (CEL), a Ghanaian independent power producer, have successfully secured terms for an amended Power Purchase Agreement (PPA). Per the agreement, CEL has decided to convert its power plant into a tolling structure and transfer all resulting cost savings to ECG. A statement issued by the Public Relations Unit of the…
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COPEC predicts marginal decrease in fuel prices
The Chamber of Petroleum Consumers (COPEC) is predicting a marginal decrease in prices of fuel at the pump. This reduction should be expected by the end of September, according to COPEC. Speaking to Citi Business News, Executive Secretary of COPEC, Duncan Amoah, said consumers should expect either one or two percent reduction in prices of…
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COPEC to publish regular consumer survey to improve service from OMCS
As part of efforts to ensure that the interests of consumers are protected at the fuel pumps, the Chamber Of Petroleum Consumers (COPEC) has begun releasing regular surveys on Oil Marketing companies in the country. According to COPEC, the findings of the survey will help guide consumers in their decisions on the ideal OMC to…