Category: Oil And Gas
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GOIL commits US$25 million in Exxonmobil deal
GOIL has revealed said it is going to cost the company about US$25 million in the next five years as the local partner in Exxonmobil’s Deep Water Cape Three Points’ oil exploration programme. According to Goil, this will be done through its wholly-owned subsidiary, GOIL Offshore Company Ltd. Speaking at GOIL’s 50th Annual General Meeting…
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Kweku Awotwi elevated to Executive Vice President of Tullow plc
Tullow Oil Plc has appointed Kweku Andoh Awotwi, Managing Director of Tullow Ghana Limited (TGL), to the position of Executive Vice President following a reorganization exercise. The Tullow Ghana’s business, previously under its West Africa’s business, is now a standalone entity under the new Group structure. The company said the move reflects the materiality and…
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Tullow Ghana pays first dividend in four years
Tullow Plc has announced the payment of US$67 million as dividend to its shareholders for the year 2018 — the first time in four years. The company also announced a new dividend policy which will allow it to pay dividend of US$100 million annually to shareholders. Chief Executive of Tullow Group, Paul Mcdade said the…
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Goil gets shareholders approval for 5% stake in ExxonMobil
Shareholders of Goil have given approval for the company to own a five percent stake in the operations of Exxon Mobil in Ghana. The decision was arrived at following majority acceptance of the arrangement at Goil’s Annual General Meeting on Thursday, May 23, 2019. Addressing shareholders at the AGM, board of Directors which was very…
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Find out why Exxonmobil, BP pulled out of bidding rounds–ACEP demands
The Africa Center for Energy Policy (ACEP) has charged the Ministry of Energy to undertake some serious introspection to find out why big companies like ExxonMobil and British Petroleum, (BP) pulled out of the competitive bidding process for the 3 oil blocks put on offer by the Government. Out of the 14 companies that were…
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Editorial: Transparency, accountability in extractives non-negotiable
Despite having numerous legal provisions and industry reports all aimed at deepening transparency in the oil and gas sector, these are yet to lead to any meaningful accountability. It does appear that not much has been done to demand accountability in the oil and gas sector. Ghana, since the discovery and commercial production of oil,…
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Stakeholders disappointed with low number of bids for new oil blocks
Stakeholders in the oil and gas sector have expressed their disappointment in the low number bids submitted for the 3 oil blocks put up for competitive bidding by the Government. At the close of the submission date for bidding yesterday, only 3 bids were submitted. Tullow Oil bid for block 3, ENI and Vitol jointly…
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WAGP-Ghana Gas pipeline ‘Tie-In’ for ENI’s OCTP Gas: A stitch in time
Until recently, gas from offshore oilfields in the western coast of the country only terminated at the Aboadze thermal power enclave in the Western Region. Aside Ghana Gas having the capacity to deliver 150 million standard cubic feet per day (mmscf/d) for power generation, additional gas from Eni’s Offshore Cape Three Point (OCTP) Integrated Project…
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Exxonmobil, BP withdraw bids for new oil blocks
US oil giant, ExxonMobil and British Petroleum (BP) have pulled out from bidding for oil blocks in West African country, Ghana, in the ongoing Licensing Bid Round. The two International Oil Companies (IOCs) had earlier submitted applications for direct negotiations for block 5&6, but pulled out at the latter stage of the bid round. The…
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Energy Ministry closes submission of bids for new oil blocks
The deadline for the submission of bids for the exploration oil blocks put on offer by the government in October last year elapsed at 12 noon today, May 21, 2019. The Ministry of Energy is expected to begin the opening of the bids at 5 pm. The bid process, which was ushered in by President…