Category: Oil And Gas
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Oil production in Ghana threatened by continuous drop in Brent crude prices – IES
The Institute of Energy Security, IES, says oil producers in Ghana may be compelled to halt their production if the global price of Brent Crude continues to fall. The price of US oil turned negative for the first time in history on Monday, 20th April, 2020. By this, oil producers are paying buyers to take…
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Tullow Oil plc appoints Rahul Dhir as new CEO
Tullow Oil plc (Tullow), has announced the appointment of Rahul Dhir as Chief Executive Officer and an Executive Director of the Group. Rahul will take up his appointment from 1 July 2020 and Dorothy Thompson, currently Executive Chair of Tullow, will return to her position as Non-Executive Chair after a limited period of handover. Rahul…
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COPEC urges Gov’t to assist BOST to store more oil reserves
As concerns continue to mount over lack of storage facilities to store oil in the US, the Chamber of Petroleum Consumers, Ghana, (COPEC) is calling on government to help the Bulk Oil Storage and Transport (BOST), ‘to get a good credit line or an open credit system in place immediately to stock oil at this…
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US oil prices turn negative as demand dries up
The price of US oil has turned negative for the first time in history. This is according to the British Broadcasting Corporation (BBC). That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May. Demand for oil has all but dried up…
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COPEC demands compensation for LPG consumers after withdrawal of ‘illegal’ levy
The Chamber of Petroleum Consumers, COPEC, says it will engage the National Petroleum Authority, NPA, on how consumers who were charged the 13.5 pesewas Liquefied Petroleum Gas (LPG) circulation levy will be compensated. The Minister for Energy, John Peter Amewu, last week announced that the NPA has been directed to stop charging the LPG re-circulation…
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‘Illegal’ LPG levy still charged despite supposed withdrawal – COPEC
Despite the assurance given by government that the controversial 13.5 pesewas cylinder recirculation levy has been withdrawn from the price of Liquefied petroleum gas, LPG, the Chamber of Petroleum Consumers, COPEC, insists the levy is still being charged at gas fuel stations across the country. COPEC is already in court with the Consumer Protection Agency…
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Puma Energy’s 5 tips on staying alive during the Covid-19 Pandemic
As part of efforts aimed at educating the general public on the best ways to stay safe and prevent the spread of the dreaded Covid-19 pandemic, Puma Energy, a leader in Ghana’s Oil Marketing industry has compiled five top tips on how best Ghanaians could stay clear of the virus and avoid infection. These tips,…
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Energy Minister announces withdrawal of new LPG levy
Government has announced the withdrawal of the 13.5 pesewas Cylinder Recirculation Margin (CRM) levy placed on every kilogram of Liquefied Petroleum Gas (LPG). This was revealed by the Minister of Energy, Peter Amewu at a press briefing on Thursday, April 16, 2020. “That slight increase in price that you saw in the papers, it has…
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Fuel prices to remain stable in first pricing window in April – IES predicts
Prices of fuel are to remain stable in the first pricing window of April, 2020, according to the Institute of Energy Security, IES. In a statement issued by the Institute, they attribute the stability in fuel prices to the fairly modest reduction in prices of Gasoline and Gasoil on the international market, as well as…
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TOR MD, Asante Berko resigns after bribery allegations in US
The Managing Director of the Tema Oil Refinery (TOR), Asante Berko has resigned. His resignation comes after he was dragged to court in the United States for allegedly making illegal payments to gain approval for a client’s power plant project from 2015 through to 2016 in Ghana. A press statement issued by the Director of…