Category: Oil And Gas
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Why refined products standard is critical to Africa
A move by the African Refiners & Distributors Association (ARA), and the African Union (AU), to ensure common standard for the importation and refining of petroleum products on the continent remains critical to trade, environment and the economy of the region, stakeholders said, Wednesday. Under the plan, Africa is expected to adopt harmonized AFRI Clean…
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Transition to renewable energy not an European solution, it’s in Africa’s interest – IES
The energy landscape’s transition to renewables is a global panacea for the high energy cost and sustainable development, and not a European solution. Policy makers in Africa must as part of the exploitation of fossil fuels consider also the abundant renewable energy resources, freely at their disposal. Countries in the West and the oriental have…
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BOST closes down head office as 46 staff test positive for COVID-19
The Bulk Oil Storage and Transportation Company Limited (BOST), has closed down its head office at Dzorwulu after 46 employees tested positive for the novel Coronavirus. The office will be closed from Monday, July 6, 2020 to Monday, July 13, 2020. A statement issued by the Corporate Communications Department of BOST and sighted by Citi…
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TEN Field’s challenges and crude price fluctuations reduced 2019 oil revenue – IES
The Institute for Energy Security, IES, says the drop in Ghana’s oil revenue in 2019 could be attributed to the movement of crude prices on the world market and the challenges faced by Tullow Oil in the TEN Fields. Oil revenue dropped by 5 percent to 925 million dollars in 2019 from 977 million dollars…
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Facilitate more exploration projects to mitigate impact of COVID-19 – Kosmos to Gov’t
Jubile partner, Kosmos Energy, has urged government to facilitate exploration projects for oil companies in the wake of the COVID-19 pandemic. The fall in oil prices coupled with reduced demand for oil, has taken a toll on the global oil industry and affected players in Ghana’s oil sector. Having set a benchmark of $58.66 oil…
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We’ll keep checking fuel stations to protect consumers – COPEC insists
The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations. The Association of Oil Marketing Companies, OMCs, has criticized the act accusing COPEC of usurping the powers of the National Petroleum Authority, NPA, and the Ghana Standards Authority, GSA, which are mandated…
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Help us obtain our full severance package – Suspended Schlumberger workers to Energy Ministry
Suspended workers of Schlumberger, an international oil and gas service provider operating in Ghana, are calling on the Ministry of Energy and the Petroleum Commission, to help them in their demand for full severance package instead of the 40% payment given to them. An Executive Member of Schlumberger Workers Union, Sylvester Boadi, tells Citi Business…
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Suspended Schlumberger workers demand full severance package
Suspended workers of Schlumberger, an international oil and gas service provider operating in Ghana, are demanding full severance package as agreed in their 2016 Memorandum of Understanding (MOU). The Chairman of the Schlumberger Workers Union, Bright Kwabena Danquah, told Citi Business News the company last month gave letters to about 60 of its Ghanaian workers…
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PIAC urges Parliament to restrict GNPC’s spending on CSR
The Public Interest Accountability Committee, PIAC, has reiterated its call on Parliament to put some restrictions on the Ghana National Petroleum Corporation’s budget allocated to Corporate Social Investments. At the launch of the 2019 annual PIAC report, Chairman of PIAC, Nobel Wadzah, among other things said GNPC has for the past ten years not raked…
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Manage expectations from oil proceeds in mid-year budget – IES to Gov’t
The Institute of Energy Security, IES, has advised government to benchmark expected revenue from petroleum receipts around 35 dollars per barrel. The 2020 national budget pegged petroleum prices for export at 60 dollars per barrel. However, the outbreak of COVID-19 caused prices of crude oil on the world market to drop to as low as…