Category: Oil And Gas
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Article: Eyes on Tortue Ahmeyim flng project in Mauritania and Senegal
With its long and illustrious record dating back over half a century, Africa remains one of the world’s largest liquefied natural gas (LNG) exporters. While few have floundered in recent times, new final investment decisions (FIDs) are occurring for major LNG export projects across the continent and the near term should see more LNG projects…
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TOR to resume full refinery status in 2020
The Tema Oil Refinery, TOR, should return to its full operational capacity for refining crude oil by the first quarter of 2020. This should be made possible with the replacement of one of the company’s furnaces which has impacted operations for about two years now. The latest assurance follows efforts by the managers of the…
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Tema Oil Refinery explains GHS186 million loss
The Tema Oil Refinery has said that the GHS186 million it incurred as a loss in the first four months of the year was not due to trading or transactional activities. Reacting to media reports about the loss, a statement from TOR said the amount was as a result of financial interest charges and exchange…
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Article: Restructure, recaptalize, and revamp TOR
Its weaknesses are well documented, ranging from distress financial position, low refining and utilization capacity, weak governance structure, poor maintenance culture, to production and storage losses. But little attention have been giving to its strengths and opportunities. It takes only those who have ever ventured closer, to see the brighter side of the 45,000 barrels…
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Dangote’s oil refinery not a threat to Ghana’s TOR – Analysts
Analysts in the oil and gas sector have downplayed any significant impact of a refinery by Dangote on the operations of the Tema Oil Refinery, TOR. They say the development though laudable, may not be able to meet the demand for refined products which makes it necessary for TOR to work to sustain its operations.…
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Fuel under-delivery: More OMCs to compensate consumers
More Oil Marketing Companies (OMCs) which had retail outlets which were cited as shortchanging consumers are to replenish the quantities to their respective customers within the coming days. That is the assurance from the Chamber of Petroleum Consumers, COPEC. The move follows series of negotiations and the need to give value for money despite complying…
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Dangote Refinery to end petroleum products import to Africa
Nigeria and other sub-Saharan African countries would soon heave a sigh of relief from the importation of petroleum products, with the imminent completion of the 650,000 barrels-per-day (bpd) Dangote Refinery at Ibeju-Lekki area of Lagos. Mr Devakumar Edwin, Group Executive Director, Strategy, Capital Project and Portfolio Development, announced this at the opening of the…
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Energy Ministry explains oil companies’ low interest oil blocks sale
The Energy Ministry has cited the lack of comprehensive data on Ghana’s oil blocks as well as the small size of the blocks as some of the reasons for the low interest in the first oil blocks bidding round. Out of the three blocks put up for the first bidding round, four companies expressed interest…
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PDS must improve revenue collections to be efficient–IES
The Institute of Energy Security (IES) has charged the Power Distribution Service (PDS) to improve the collection of bills to ensure prompt payment to power producers. The admonition follows threats by Independent Power Producers to cut power if some monies owed them are not paid. The Chamber of Independent Power Distributors and Bulk Consumers (CIPDIB)…
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Article: What next for government as dumsor clock ticks?
In 1984, Ghana was confronted with its first electricity crisis as a result of a severe drought of the lake, very much attributable to climate between 1982 and 1984. It was reported that the total inflow into the dam between 1982 and 1984 was less than 15% of the expected total, and that triggered power…