Category: Oil And Gas
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Kosmos Energy’s Joe Mensah promoted to Senior Vice President and Head of Ghana Business Unit
Kosmos Energy has announced the promotion of its Country Manager, Joe Mensah, to Senior Vice President and Head of the Ghana business unit after serving with distinction as Country Manager since joining the company in 2015. Mr. Mensah will be responsible for the overall performance of the Ghana business unit, maintaining strong relationships with partners,…
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Government to revoke four petroleum licences for lack of development
Government is set to revoke the petroleum exploration licenses of some four companies which have failed to develop their allocated oil blocks. Deputy Petroleum Minister Mohammed Amin Adam told journalists in South Africa that the government will take aggressive action to ensure that its petroleum assets are harnessed for the benefit of Ghanaians. The licenses…
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Ghanaian workers at ENI agitate over unequal pay
Ghanaian workers at ENI, an Italian oil and gas company operating in the country, are agitating over what they call unequal pay structure at the company. The workers say their conditions of service are far below industry levels and want the discrepancies fixed. The concerns by the workers, Citi Business News understands has been triggered…
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BOST seeks US$150 million capital to turnaround fortunes
The Bulk Oil Storage and Transportation Company Limited (BOST) is seeking US$150 million capital to turnaround its operations. Making a case for the amount, Edwin Nii Obadai Provencal, the Managing Director of BOST, said about US$75 million of the funds would be used to upgrade and rehabilitate the company’s infrastructure and the other half would…
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Ghana Gas owes GNPC US$260 million for gas supplied – PIAC report
The first half year report on petroleum revenue management by the Public Interest and Accountability Committee, PIAC, has shown that Ghana Gas Company owes GNPC in excess of 260 million dollars for gas supplied. The issue, PIAC says continues to impact GNPC’s operations as well as other allocations that are to be made per law.…
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Prioritize renegotiation of take or pay contracts– Energy Expert to new Committee
Energy sector analyst and Executive Director of the Kumasi Institute of Technology, Energy and Environment (KITE) Ishmael Edjekumhene says it is critical that the newly established Energy Sector Recovery Programme Steering Committee negotiates a change of the existing take or pay contracts in the energy sector. According to him, when this is done, it will…
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3rd Annual ‘Sustainable Energy Forum’ to start next week in Accra
The ECOWAS Centre for Renewable Energy and Energy Efficiency (ECREEE) will be hosting its third annual ECOWAS Sustainable Energy Forum (ESEF) on 22-24 October in Accra, Ghana. This year’s venue will be the Kempinski Hotel, Gold Coast City. Under the high patronage of President Nana Akufo-Addo of Ghana, the event will bring together West Africa’s…
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Nigeria begins talks with major oil firms over oil revenue dispute
The Nigerian government and international oil companies are trying to find common ground on a dispute over oil revenues. Citing a 2018 Supreme Court decision, the government says it is entitled to $62 billion from companies after they failed to comply with a 1993 law that gives the state a larger share of revenues when…
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Ghana signs MoU to export talent in Oil and Gas industry to three African countries
Ghana is set to export some of its talents within the Petroleum Industry, to three African countries including Sierra Leone, Gambia and Liberia. This follows the signing of a Memorandum of Understanding between the Ghana National Petroleum Corporation, (GNPC) and its counterparts in these countries to purposely share experiences in the management of the petroleum…
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Springfield begins historic deepwater oil exploration off Cape Three Points
Springfield Exploration and Production Limited (SEP), an Independent Ghanaian energy company drilling in Deepwater offshore Ghana, on Monday October 7th spudded its Afina-1x well in the West Cape Three Points Block 2. This is the first time an independent energy company in Africa is accomplishing such a feat and places Springfield amongst known exploration companies,…