Category: Oil And Gas
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$350m China LNG deal to boost oil and gas sector
The Executive Director of the Kumasi Institute of Technology, Energy and Environment (KITE) Ghana, Ishmael Agyekumhene has described the 350 million dollar Liquefied Natural Gas (LNG) terminal deal with China as a good agreement that will boost Ghana’s oil and gas industry. Mr. Agyekumhene is optimistic the deal will ultimately secure the supply of fuel…
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ENI secures oil fields with Italian vessel
One of the major oil producing fields, ENI, has undertaken processes to fortify its operations in the oil and gas sector. It follows the arrival of Italian ship;Luigi de la Penn in Ghana on Thursday, August 30th 2018. The presence of the ship here in Ghana will not only see increased trade relations between Ghana…
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ESLA bond raises GH¢5.66 billion
Managers of ESLA PLC has announced that they have been able to raise about 265 million cedis as part of the energy bond to save the energy sector. This was carried out under the ten year auction bid of the bond; which spans from 2017 to 2027. According to the managers of ESLA PLC, the…
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Fuel prices to remain stable in September
Prices of fuel are expected to remain relatively stable for the first pricing window in September. This means that for the first two weeks of September, consumers should be paying almost the same amount for fuel they purchase. The Institute of Energy Security (IES) who predicted this tells Citi Business News the stability could be attributed to…
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![Petroleum Commission, 40 companies participate in ONS 2018[photos]](https://citibusinessnews.com/wp-content/uploads/2018/08/WhatsApp-Image-2018-08-27-at-12.39.04-PM-2-1.jpeg)
Petroleum Commission, 40 companies participate in ONS 2018[photos]
The Petroleum Commission is currently leading 4o companies to participate in the Offshore North Sea Conference in Stavanger Norway. The companies are made up of firms in the petroleum upstream sector. The delegation is made of the acting CEO of the Petroleum Commission, Egbert Faibille, and Deputy Minister for Energy, Joseph Cudjoe. – By: Lawrence…
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Norwegian Petroleum Directorate lauds Ghana’s petroleum policies
The Norwegian Petroleum Directorate (NPD) has lauded key stakeholders in Ghana’s oil and gas sector for formulating policies aimed at enhancing efficiency in the upstream sector. According to the directorate, Ghana has so far achieved substantial gains from the passage and implementation of relevant laws in the oil and gas industry. “Now that all the…
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Cancel non functional oil blocks – ACEP to government
The Africa Center for Energy Policy (ACEP) has called for a review of contracts that are given to companies that are mandated to drill oil in the country. According to the Executive Director of ACEP, Benjamin Boakye, such a move is necessary as most companies that have signed contracts with Ghana after its oil discovery…
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PC creates platform for local companies at ONS 2018
The Chief Executive Officer of the Petroleum Commission, Egbert Faible Junior has indicated that the commission is creating a platform for local indigenous companies to partner with international firms to expand Ghana’s petroleum upstream sector. The move, according to him, will also help Ghanaian companies to enter into joint venture deals with international companies to…
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Fuel price increases by 8.6% from January to August
Analysis done by Citi Business News indicates that fuel prices have increased by 8.6 percent from January to August this year.[2018] A recent report by the Institute for Energy Security pointed out that fuel prices went up by 2 percent for the month of August. So what is accounting for the increase witnessed between January…
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Change BOST’s mandate to address fuel price hikes – IES
The Institute of Energy Securities (IES) is calling for a change in the mandate of the Bulk Oil Storage And Transportation (BOST) to help address the constant increase in fuel prices. According to the Executive Secretary of IES, Paa Kwesi Anamoah Sekyi, an analysis of the trend in fuel prices on the international market can better…