Category: Oil And Gas
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Aker Energy makes successful oil discovery in Ghana
Aker Energy has announced that its oil exploration in the Deepwater Cape Three Points block in Ghana have been successful. The company explained that initial works done show that its Pecan4A well in the block could be holding some 450 to 550 million barrels of oil. This, the company said has paved the way for…
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Axxela signs gas transportation deal with WAPCo
Axxela Limited, sub-Saharan Africa’s preferred fast-growing gas & power portfolio company, has signed a Gas Transportation Agreement (GTA) with the West African Gas Pipeline Company Ltd. (WAPCo) to transport over 15 million standard cubic feet per day (“mmscf/d”) of natural gas via the West African Gas Pipeline (WAGP) to Lome, Togo. During the signing ceremony…
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No data on ABFA expenditure in PIAC report
The Public Interest and Accountability Committee, PIAC, is demanding sanctions for institutions that delay in submitting data for its reports. The Committee which has oversight responsibility in the management of petroleum revenue maintains that the development impacts adversely on its operations. The Chairman of the Public Interest and Accountability Committee, Dr. Steve Manteaw in an…
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ENI gas inexpensive – Government
The government has clarified the cost of gas that it is taking from the Offshore Cape Three Points being operated by ENI is costly. According to the Ministry of Energy, the price of 40 million dollars per month cannot be possible as there have been negotiations for a drop in the price of gas from…
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Energy Ministry opens prequalification application for oil blocks
The Ministry of Energy has opened applications for prequalification from interested companies for the oil blocks the government has put up for competitive bidding. The application is opened to who submitted Expression of Interest (EoI) for the competitive bidding for three Blocks (GH_WB_02, GH_WB_03 and GH_WB_04) in the Western Basin and direct negotiations in respect…
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Ameri welcomes Amewu’s ‘enhanced’ agreement
Ameri Energy has demonstrated its willingness to work with the government of Ghana on the new agreement it has brought forth. CEO of Ameri Energy, Mustafa Ahmed said in a statement: “We are always happy to address any misconceptions about our work and we’ve engaged in a constructive dialogue with the government and all stakeholders.…
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Ghana-Togo deliberate on maritime boundary for oil blocks
Government is hoping to reach an amicable agreement with the Togolese government on the Ghana-Togo Maritime Boundary demarcation. This is the third time the two countries are meeting to properly demarcate the boundaries which is suspected to hold oil and gas in commercial quantities. Lessons from Ghana-Ivory Coast dispute Ghana last had a maritime dispute…
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24 million dollars revenue loss at TOR false—Management
The Tema Oil Refinery (TOR) has described as ‘false’ a publication by the Institute of Energy Security(IES) that the refinery is incurring losses to the tune 24 million dollars. Management of TOR in a press statement issued on December 3rd, 2018 said the projections by IES which concluded that the refinery was making losses due…
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GOIL reduces fuel prices below 5 cedis per litre
Ghana Oil Company Ltd, GOIL, has reduced fuel prices at all its retail outlets. For now, Super XP is selling at 4.98 cedis per liter while Diesel XP is selling for 4.98 cedis per litre. The reduction, which is in line with the drop in international Petroleum prices and relative stability of the Cedi takes…
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Ghana needs more investment in petroleum upstream sector—Tsatsu Tsikata
A former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) Tsatsu Tsikata has called for more investment into Ghana’s upstream sector. According to him, the sector holds the potential to significantly reduce the country’s unemployment level. Since the promulgation of the Local Content and Participation Regulation LI 2204, about 12,000 Ghanaians have been…