Category: Oil And Gas
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Tullow Oil open to potential buyers as Ghana operations disappoint
Tullow Oil Plc has disclosed that it is open to receiving offers for the take-over of the company as challenges from its Ghana operations begin to bite hard. The company had faced setbacks in its Jubilee and TEN fields culminating in the resignation of the company’s CEO, Paul Mcdade, on Monday after more than two…
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Tullow’s shares drop 50 percent as CEO resigns over poor performance in Ghana
Shares of Tullow Oil Plc on the London Stock Exchange plummeted by more than 50 percent as its CEO, Paul McDade resigned over disappointing performance in its Ghana operations. Tullow Oil which is the lead partner of the Jubilee and TEN fields could not meet its production targets due to technical problems at Jubilee as…
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Tema Oil Refinery seals deal to refine 11 million barrels of crude oil
The Tema Oil Refinery (TOR) has signed an agreement with Woodfield Energy Resources to process a tolling 11 million barrels of crude, Isaac Osei, Managing Director of TOR, has revealed. Mr. Osei said Woodfield Energy Resources’ long history with the Refinery and its knowledge on energy business in Ghana and Africa originated and led the…
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Eni, government inaugurate business and agricultural training project
In the presence of Italy’s Prime Minister Giuseppe Conte, Ghana’s Senior Minister Yaw Osafo-Maafo and Eni’s CEO Claudio Descalzi inaugurated today in Dormaa East, Bono region, the Okuafo Pa Agricultural Training Center. The center is a pilot initiative of the Africa Project which aims to support economic diversification in the agricultural sector through skill transfer…
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COPEC raises alarm over sub-standard diesel; calls on regulators to act
The Chamber of Petroleum Consumers (COPEC), is asking government agencies responsible for the petroleum sector and standards to rid the market of sub-standard diesel being sold by some fuel stations. The product, known as harbour load or black oil according to COPEC, could ruin vehicle engines. Executive Secretary of COPEC, Duncan Amoah, is thus calling…
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80 percent of registered indigenous Petroleum companies not active
Despite the Petroleum Commission’s claim that local content participation in Ghana’s oil and gas sector is improving, it says more than 80 percent of indigenous companies registered with the Commission are currently not operational due to limited capacity. Speaking to Citi Business News on the sidelines of the Local Content Conference in Takoradi, the Business…
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NPA to set up prosecution department to tackle crime in downstream petroleum industry
The Chief Executive Officer of the National Petroleum Authority, NPA, Hassan Tampuli, has announced that discussions are underway which will lead to the establishment of a specialized office that will prosecute people in the downstream petroleum sector, whose activities negatively impacts expected revenue for national development. During the recent 2020 budget presentation to Parliament, Finance…
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ACEP hopeful latest oil discovery will increase Ghana’s oil revenue
The Africa Centre for Energy Policy, ACEP, says the recent oil discovery by Springfield Exploration and Production Limited is a big win for the local oil and gas industry in Ghana and Africa as a whole. Springfield, a wholly Ghanaian-owned company, recently made a discovery of more than 1.2 billion barrels of oil in its…
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Ghanaian firm Springfield makes historic oil discovery of 1.2bn barrels in deepwater
Springfield Exploration and Production Limited (SEP), an independent Ghanaian energy company, has made a discovery of more than 1.2 billion barrels of oil in its deepwater drilling off the coast in the Western Region. The company last month commenced its drilling activity in the West Cape Three Points Block 2 and a little over a…
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Tullow Ghana celebrates suppliers for supporting local content development
One of the leading oil and gas companies in Ghana, Tullow Ghana, has celebrated its suppliers for their dedication to local content development. The event was held at the Accra Mariott Hotel. In his keynote address, the Executive Vice President of the company, Kweku Andoh Awotwi, hailed the suppliers for their local content drive and encouraged them…