Category: Oil And Gas
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Petroleum retailers threaten to boycott fuel with temperature above 20 degrees
The Ghana Petroleum Retailers Association has joined calls urging the National Petroleum Authority (NPA) to enforce a directive it gave to Bulk Oil Distributors and oil depots to keep the temperature of their petroleum products at 20 degrees Celsius before it is transported. The National Petroleum Authority in a recent directive aimed at reducing losses…
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Asante Berko appointed CEO for Tema Oil Refinery
The Tema Oil Refinery, TOR, is set to announce the appointment of Asante K. Berko, an investment banker, as its new Chief Executive Officer, a Citi Business News source has confirmed. The appointment of the new CEO comes barely a fortnight after the refinery appointed Ing. Ato Morrison as an interim head following the sudden…
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Survivors of 2014 offshore helicopter crash petition Petroleum Commission
Two persons who survived the 2014 helicopter crash off the coast of the Western Region have formally petitioned the Petroleum Commission for compensation due them after waiting for about six years without much success. The two, Godfred Amankwah and Ebenezer Ampabeng, who were part of the 8th May 2014 helicopter crash reactivated calls for compensation…
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Protect Ghanaians from possible US-Iran tensions escalation – COPEC
Even as oil prices drop on the international market, the Chamber of Petroleum Consumers Ghana-COPEC, has called on the government to put in place strategies to protect Ghanaians against a possible hike in oil prices due to any escalation in US-Iran relations in the near future. According to COPEC, the government can consider hedging as…
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Survivors of 2014 LukOil helicopter crash yet to be compensated
Some survivors of the 2014 helicopter crash that killed four petroleum workers off the coast of the Western Region say they have not received any compensation despite the conclusion of investigations into the crash. The four persons who died in the accident which occurred on May 8, 2014, included two Ghanaians, a Nigerian and a…
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COPEC wants gov’t intervention in stabilizing fuel prices
he Chamber of Petroleum Consumers Ghana (COPEC) wants the government to apply the price stabilization levy to cushion consumers from a likely increase in the cost of fuel. Already, industry players have predicted a hike in fuel prices at the pumps by about two percent this month. This prediction is premised on among other things,…
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Oil prices jump after top Iranian general killed by US
Oil prices have risen sharply after the killing of a top Iranian general in Iraq. Analysts warned the action could escalate tensions in the region and affect global oil production. The price of Brent crude jumped by more than 3% and at one point hit $69.50 a barrel, the highest since September. It came after…
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Ing. Ato Morrison appointed acting Managing Director of TOR
Ing. Herbert Ato Morrison has been appointed the acting Managing Director of the Tema Oil Refinery, Citi News can confirm. His appointment follows the resignation of Isaac Osei, who served as the MD of the company for nearly three years. A source at the refinery disclosed to Citi News that the mantle fell on Ing.…
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IES predicts two percent fuel price increase in New Year pricing window
The Institute of Energy Security (IES), is predicting an increase in fuel prices at the pumps when oil marketing companies review their prices in the first pricing window in January 2020. The energy policy think tank in a press release explained that the drivers of the potential increase include a four percent increment in prices…
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TOR MD was forced to resign after he refused ‘corrupt’ deal — Think tank alleges
The Institute of Energy Security (IES) is alleging that the recent resignation of the Managing Director of Tema Oil Refinery, Isaac Osei, was induced by persons who wanted him to approve a shady deal that would have cost taxpayers millions of dollars. The energy policy think tank in a press release stated that its investigations…