Category: Oil And Gas
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Stop massing up at LPG stations; we’ll work during lock-down – LPG Marketers assure
The Liquefied Petroleum Gas Marketing Companies Association of Ghana has called on the general public to desist from rushing to various retail outlets across the country to purchase gas in response to the President’s partial lock-down of Accra, Tema, Kasoa and Kumasi on March 30, 2020. This comes after thousands of people in response to…
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West African Gas Pipeline to cut gas supply to VRA, GRIDCo for 6 hours
The West African Gas Pipeline Company (WAGPCo), says it will from midnight, Saturday 28th March, 2020, to 6:00 am Sunday, 29th March, halt the supply of gas from its pipelines to the Volta River Authority, (VRA), and the Ghana Grid Company Limited, (GRIDCo) to enable it upgrade its software. According to WAGPCo, the exercise is…
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Anamua Sakyi writes: Low prices induces cut-backs within the oil and gas sector
Brent crude is now trading below the US$30 per barrel mark compared to US$68.60 trading price recorded on January 03, on fears the deadly Covid-19 will push the world into recession with an oversupply of the commodity. Oil prices fell heavily at the open in Asia on Monday 23, 2020 after a trillion-dollar Senate proposal…
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ACEP pushes for supplementary budget to manage impact of low oil prices, COVID-19
The African Centre for Energy Policy, ACEP, is calling on government to prepare a supplementary budget that will help manage the effects of low oil prices on the market. According to ACEP, the impact of revenue shortfalls from the oil and gas sector due to price volatility on the international market, has severe implications for…
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Anamua Sakyi writes: Analyzing the impact of low oil price on Ghana’s oil production growth
Oil as a lucrative commodity, has empowered many countries that produce it for export, in terms of improving the lives of the populace and increasing their political power among other nations (Abubakar et al. 2016; Akakpo, 2015). A 2007 report by the United Nations Conference on Trade and Development (UNCTAD), suggest that extractive activities (including…
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OMCs’ justification for insignificant drop in fuel prices unfair to consumers – COPEC
The Chamber of Petroleum Consumers, COPEC, has reiterated the need for further reduction in fuel prices at the pumps. The comments follow the Chamber of Bulk Oil Distributors’ appeal to petroleum consumers to be circumspect in their demand for decreases in fuel prices at the pumps. Brent crude, which was selling for about 66 dollars…
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Consumers must be measured in demanding fuel price reduction – Senyo Hosi
The Chamber of Bulk Oil Distributors has asked petroleum consumers to be circumspect in their demand for decreases in fuel prices at the pumps. According to the chamber, there are several factors that go into the computation of fuel prices before the ex-pump price is reached. Crude oil prices saw about 30 percent drop on…
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GRIDCo partly blames power outages on lack of funds to purchase fuel
The Ghana Grid Company, GRIDCo, has blamed the lack of sustained financing to fuel the various dual power generation plants as partly accountable for the intermittent power outages experienced in parts of the country. According to the power transmission company, Ghana’s ability to resolve the recurring problem should ease the apprehension associated with intermittent power…
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Boycott fuel stations that fail to reduce prices – COPEC urges consumers
The Chamber of Petroleum Consumers, COPEC, is urging motorists to avoid Oil Marketing Companies that have refused to reduce fuel prices at the pumps. OMCs across the country were expected to reduce their prices from Monday, March 16, 2020, which was officially the next pricing window, and following a drop in crude oil prices by…
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Santol Energy distributes free hand sanitizers; reduces fuel price to GHS4.9 per litre
Santol Energy has announced what appears to be a double bonanza for motorists with the distribution of free hand sanitizers to all its customers, and a reduction in prices of products at its fuel stations nationwide. A litre of petrol is now selling at 4.9 cedis per litre, down from 5.25 a litre, according to…