Category: Oil And Gas
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Ghana’s oil production declines for the third consecutive year – PIAC
Ghana has for the third consecutive year seen a decline in crude oil production according to the 2022 Public Interest and Accountability Committee’s (PIAC) annual report. 71,439,585 barrels were produced in 2019 but declined to 66,926,806 barrels in 2020 representing a 6.32 percent drop. It further declined to 55,050,391 barrels in 2021 (17.75%) and then…
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Africa risks losing 500bn barrels of crude over int’l pressures – Dr. Amin Adam
The Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam has indicated that over 500 billion barrels of crude oil will be left untapped in Africa following growing concerns from international communities to ensure a sustainable climate. This development, he believes will mitigate the growth of the African continent. He further explains that…
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Fuel prices to decline in second pricing window of May – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a decline in the prices of fuel in the second pricing window of May 2023. COPEC’s projections indicate that the decline is a result of the decrease in the price of crude on the international market and stable to slightly declining forex rates. Petrol is expected…
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Increasing Ghana’s Oil and Gas reserves is my priority – GNPC CEO
Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) Opoku-Ahweneeh Danquah has said, he remains committed in building and sustaining a robust state petroleum entity and won’t be distracted by few dissenting elements within the system. His statement was in a response to a question that he was asked regarding a series of alleged…
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NPA to regulate bitumen supply chain to ensure quality and efficiency
The National Petroleum Authority (NPA) is developing a framework to regulate the importation, storage, processing and marketing of bitumen in the country. The framework, which will have inputs from the Ghana Standards Authority (GSA), the Ghana Highways Authority (GHA), and the Customs Division of the Ghana Revenue Authority (GRA), is to streamline the bitumen supply…
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MTN explains why it suspended its Data Zone bundle
MTN Ghana, a subsidiary of Scancom PLC, has announced the suspension of its MTN Data Zone bundle effective April 05, 2023. Subscribers of the package had taken to social media to express their dissatisfaction with the development with many calling for its reintroduction. The company apologized to its customers for the lack of communication on…
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COPEC worried over fuel shortage at GOIL filling stations
The Chamber of Petroleum Consumers (COPEC) is urging GOIL, a prominent oil marketing company, to resolve its supply issues as some customers have been left stranded at their outlets across the country. Citi Business News has confirmed that this situation has persisted for several days with some stations in the Northern part of the country…
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Gold for Oil policy will save Ghana $4.8bn annually – Veep
Vice President Dr Mahamudu Bawumia has stated that the country will save $4.8 billion annually from the ‘Gold for Oil’ policy. According to him, this is the most important aspect of the policy which is aimed stabilising prices of fuel products, as well as reduce pressure on Ghana’s foreign exchange. Speaking at the commissioning of…
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Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023
The Energy Minister, Dr Matthew Opoku Prempeh participating for the first time in the North Africa & Europe Energy & Hydrogen Exhibition & Conference (NAEPEC). The Conference is organised at the Fira Barcelona, Gran Via, Barcelona, Spain from the 13-17 March, 2023. Dr. Prempeh will be speaking on Monday, March 13, as a keynote speaker…
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International Women’s Day: Female engineering students tour Karpowership
Karpowership Ghana has observed International Women’s Day (IWD) with an educational tour for female engineering students on its Powership Karadeniz Osman Khan in Sekondi – Takoradi. March 8, is earmarked every year by the United Nations (UN) to celebrate the successes of women. The day is also used to challenge gender stereotypes, call out discrimination,…