Category: Oil And Gas
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Ghana must focus on electricity distribution efficiency—Turkey Electrical Association
The Electrical and Electronics Exporters Association of Turkey have called on government to focus more on improving the efficiency associated with the transmission and distribution of electricity in the country. The Vice Chairman of the Association, Mehmet Kavaklioglu made the call at the ongoing Turkey-Ghana Business to Business Summit. The Turkey-Ghana Business to Business Summit,…
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IES blames power cuts on overdependence on gas
The Institute of Energy Security (IES) wants the government to find pragmatic ways to purchase and store adequate quantities of alternative fuel for the country’s power generation plants. The IES argues that may largely help in stabilizing power generation and supply. The suggestion comes on the back of the recent erratic power supply that has…
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Petroleum Commission prioritises technology use for upstream operators
Chief Executive Officer of the Petroleum Commission, Egbert Faibille has urged various companies operating within the petroleum sector to use technology in building the industry. This he believes will promote the upstream space and improve revenue for the sector and country as a whole. He made the remarks at an engagement with some investors in…
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ACEP cautions GOIL on Exxon Mobil deal
The Africa Centre for Energy Policy (ACEP) has cautioned the Ghana Oil Company Limited (GOIL) to ensure that it puts in place the necessary measures to absorb any risk that may arise from its partnership with Exxon Mobil. GOIL is set to become ExxonMobil’s local partner as it begins full-scale exploration for oil in Ghana’s…
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Gov’t approves GOIL as partner for Exxon Mobil oil deal
Minister for Energy John Peter Amewu has announced that government has approved state owned Oil Marketing Company, GOIL as the minority partner for the Exxon Mobil deepwater offshore oil field. Mr. Amewu disclosed that government has“been notified by Exxon of their choice” and the Ministry of Energy has approved of the deal. He stated that…
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Prices of fuel drop marginally
Fuel prices have dropped marginally by a little over 1 percent at some Oil Marketing Companies (OMC’s) across the country. Citi Business News checks at the pumps this morning show that the top three OMCs, Goil, Shell and Total Ghana are selling both Petrol and Diesel at GHC 5.15 pesewas across the country. The reduction…
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TOR gets new steam boiler to ensure uninterrupted operation
The Tema Oil Refinery has taken delivery of a new 120 ton per hour steam boiler which is expected to assist in the power generation activities of the refinery. ‘Boiler 8’ as it is referred to by authorities at TOR arrived on the premises of the refinery over the weekend. The new boiler comes on…
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Dr. Amin Adam leads Ghana’s transparency drive in extractive sector
The Minister of Finance, Ken Ofori Atta, has appointed Deputy Minister of Energy, Dr. Mohammed Amin Adam has been appointed as Ghana’s Champion for Extractive Industries Transparency Initiative (GHEITI). He is to lead the implementation of the EITI in Ghana. The appointment of Dr. Mohammed Amin Adam is in fulfillment of requirements of the Extractive…
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NPA stops over 90% of fuel diversions
The National Petroleum Authority (NPA) has disclosed that it has curbed over ninety percent of illegal diversion of fuel over the past one year. As a result, petroleum product exports to neighbouring countries have reduced from 30 to two million litres between August last year and the same period this year [2018]. The CEO of…
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ExxonMobil deal: Gov’t likely to extend timeline for local partner
ExxonMobil may get an extension of the timeline to select a local partner for its operations in Ghana. Citi Business News understands this may be the option since the government is keen on getting the company to operate in the country’s oil sector. Deputy Energy Minister, Dr. Mohammed Amin Adam disclosed this in an interview…