Category: Oil And Gas
-
OPEC, Russia meet again to approve biggest ever oil cut
OPEC, Russia and other oil producing nations were meeting on Sunday in a bid to clinch a deal on the biggest oil cut ever, amounting to 10 percent of global supply, after their initial efforts to support oil prices amid the coronavirus pandemic were blocked by Mexico. The group, known as OPEC+, was expected to…
-
NPA’s introduction of new LPG levy ill-timed and insensitive – LPG Marketers
The Liquefied Petroleum Gas Marketing Companies Association of Ghana says the recent introduction of the 13.5 pesewas Cylinder Recirculation Margin (CRM) is unfortunate. It says the levy is not only going to burden the tax payer, but is also insensitive to the plight of Ghanaians as the country grapples with the social and economic impact…
-
COPEC, CPA sue NPA over new LPG levy
The Chamber of Petroleum Consumers Ghana (COPEC), and the Consumer Protection Agency (CPA), have sued the National Petroleum Authority (NPA) over the introduction of the Cylinder Recirculation Recovery Margin (CRM), which will allow LPG operators to start charging 13.5 pesewas for each kilogram of LPG. The two entities in their writ of summons contend among…
-
Spending Heritage Fund now won’t solve Ghana’s problems – ACEP cautions gov’t
The African Centre for Energy Policy, ACEP, says efforts by government to draw funds from the Ghana Heritage Fund to stem the spread of the Coronavirus pandemic is not acceptable. The Think Tank says the use of the Fund is ‘akin to telling citizens to go for their pension because they are faced with challenges…
-
PIAC kicks against plans by gov’t to use Heritage Fund for COVID-19 fight
The Public Interest and Accountability Committee (PIAC), has kicked against government’s decision to use the Ghana Heritage Fund to finance the fight against the novel coronavirus pandemic in the country. The Finance Minister, Ken Ofori-Atta, while addressing Parliament on the economic impact of COVID-19 on the country called for the amendment of the Petroleum Revenue…
-
Calls for removal of Cylinder Recovery Margin unfortunate – NPA
The National Petroleum Authority (NPA), has described as unfortunate calls by the LPG Marketing Companies Association of Ghana for the withdrawal of the 13.5 pesewas cylinder recovery margin. The Authority has also condemned the assertion that the new charge will increase the price of LPG and other petroleum products at the pumps and thereby burden…
-
COPEC demands official withdrawal of new ‘levy’ slapped on LPG by NPA
The Chamber of Petroleum Consumers, COPEC, is demanding an official publication from the National Petroleum Authority, NPA, notifying Ghanaians of a withdrawal of some levies it placed on Liquefied Petroleum Gas, LPG. According to COPEC, the NPA on Tuesday directed Oil Marketing Companies to start charging 13.5 pesewas on every kilogram of LPG from the…
-
Fuel prices to drop again in April pricing window – IES predicts
The Institute of Energy Security (IES), is predicting a further drop in the prices of fuel on the local market between 16 and 24 percent in the first pricing-window for the month of April 2020. This, the Institute attributes to the significant fall in the prices of Brent crude, gasoline and gasoil on the world…
-
Gov’t requests to use part of Heritage Fund for COVID-19 fight
The Finance Minister, Ken Ofori-Atta, is calling for the amendment of the Petroleum Revenue Management Act (PRMA) to allow government to utilize portions of the Ghana Heritage Fund to deal with the Coronavirus pandemic. The Heritage Fund is a creation of section 10 of the Petroleum Revenue Management Act 815 enacted in 2011. The purpose…
-
COVID-19: Gov’t urged to make use of Ayalolo buses to ensure social distancing
The General Transport, Petroleum and Chemical Workers Union, is calling on government to revive the ailing ‘Ayalolo’ buses which operate the BRT system in the country to alleviate pressure on public transportation as the novel Coronavirus continues to spread. Earlier this week, the President in an announcement directed all commercial transport drivers to restrict the…