Category: Oil And Gas
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ENI announces new gas discovery in Ghana
ENI Ghana has announced that it has discovered more gas and condensate in Cape Three Points, offshore Ghana. According to the company, the well, drilled on the Akoma exploration prospect, proved an estimated volume of between 550 and 650 bcf of gas and 18-20 mmbbl of condensate. A statement from the company said the field…
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ITLOS case to blame for some dormant oil contracts – Alex Mould
Former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has blamed the number of dormant contracts Ghana has with some oil exploration companies on the protracted maritime dispute between Ghana and Ivory Coast. The Member of Parliament for Adansi Asokwa, K.T Hammond had earlier called on government to cancel some oil exploration contracts signed…
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EOCO, Special Prosecutor must stop corruption in oil & gas sector — COPEC
The Chamber of Petroleum Consumers (COPEC), has charged anti-corruption bodies such as the Economic and Organized Crime Office (EOCO) and the Special Prosecutor’s Office to apply more pressure in their fight against corruption especially in the oil and gas sector. The call is in line with recommendations made by the committee set up to investigate…
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ESLA PLC accrues GH¢5.9 billion in assets
The total assets accruing to the Energy Sector Levy Act (ESLA PLC) increased by 2.5% for the first quarter of 2019 compared to the same period in 2018. According to the unaudited financial statement of ESLA PLC, the figure increased from 5.76 to 5.9 billion cedis for the period spanning January to March this year…
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Revised Petroleum Agreement will be beneficial to Ghana–AGM
Norwegian oil company, AGM has described a revised petroleum agreement it has with Ghana as a good deal that will enable the country benefit from exploration of oil. Parliament last week ratified the revised petroleum agreement for the South Deepwater Tano (SDWT) block which is over 3.5 kilometres below sea level. By the approval, AGM…
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Contaminated fuel saga: Let Movenpina pay for 471,000 litres it lifted without payment – C’ttee to BOST
The committee set up to investigate the loss of off-specification petroleum products (off-spec) belonging to the Bulk Oil Storage and Transportation Company Limited (BOST) has come out with its report recommending punishment for the companies at the centre of the issue. The Committee chaired by Senyo Hosi, Chief Executive Officer of the Chamber of Bulk…
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Investigate GHS1.5 million revenue loss — Committee to BOST
The committee set up to investigate the loss of off-specification petroleum products (off-spec) has urged the Bulk Oil Storage and Transportation Company Limited (BOST) to investigate the sale of contaminated fuel between 2014 and 2017 to ensure clean products were not deliberately downgraded as contaminated and sold at a loss to BOST and the Ghana…
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PIAC commends increase in oil cash invested in agriculture
The Public Interest and Accountability Committee (PIAC) has commended government for increasing the amount of oil revenue invested in the agricultural sector last year. In 2018, more than GH¢251 million was invested in the agricultural sector which represents more than 61 percent increase in the allocation made to the sector in 2017 when government invested…
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Aker Energy did not make new oil discovery — Petroleum Economist
Petroleum Economist, Dr. Theophilus Acheampong, has said Aker Energy cannot be said to have made new oil discoveries rejecting claims made by policy think IMANI Africa at a recent press conference. IMANI Africa at a press conference last week had said that Aker Energy had made new oil discovery outside its original period for oil…
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May Day: Oil workers call for fair salaries among expatriates and locals
As Ghanaians join the world to mark the Workers Day today, May 1, the Petroleum and Chemical Workers Union has called on government to enforce the equal-work for equal-pay sanctioned by the Labour Law. The Western Regional Relations Officer for the General Transport, Petroleum and Chemical Workers Union, Richard Hanson, speaking to Citi News during the May…