Category: Oil And Gas
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#CitiBizFestival: GhIPCON Day 1 in pictures
The Ghana International Petroleum Conference (GhIPCON) started yesterday at the Kempinski Gold Coast Hotel in Accra. The three day event has assembled experts in the oil and gas industry, to discuss pertinent issues in the sector. Some of the topics that were discussed include; “Realizing the vision of a Petroleum Hub”, “Finding the optimal balance…
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Ghana Gas struggling due to VRA’s inability to pay debt
Failure of the Volta River Authority(VRA) to pay some $500 million it owes the Ghana Gas Company is said to be having a toll on the production of gas in the country. The debt which has been lingering on for some years now, accumulated as a result of the supply of lean gas for power…
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#CitiBizFestival: Oil and Gas experts to meet at GhIPCON 2018
The next outdoor event on the Citi Business Festival, the Ghana International Petroleum Conference (GhIPCON) will come off this morning at the Kempinski Gold Coast Hotel Accra. The conference will assembly experts and stakeholders in the petroleum downstream sector to discuss challenges and bring out solutions for the industry. The topics to be discussed include;…
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LPG consumption in 3 regions of the north still low—NPA
A report by the National Petroleum Authority (NPA) has revealed that all the three regions in the north consume only 4% of the total LPG produced in the country. Out of the 650 LPG retail outlets in the country, only 30 are situated in the Northern region, Upper East region and the Upper West region.…
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Publish all exemptions under ESLA – Senyo Hosi to ESLA Plc
The Chamber of Bulk Oil Distributors (CBOD) is demanding that the government makes public, all exemptions granted under the ESLA receipts for 2016 and 2017. The Chamber argues that the extent of such exemptions may serve as an avenue for tax evasion hence Ghanaians must be given the fine details of the transactions. The request…
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ESLA Plc debunks CBOD report on petroleum revenue receipt
The company responsible for clearing the energy sector debt, ESLA Plc has debunked reports by the Chamber of Bulk Oil Distributors (CBOD) that a total of 915 million cedis was not reported by government in 2016 and 2017 petroleum revenue receipt. The chamber last week alleged in its 2017 industry report that government failed to…
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Aker Energy takes over Hess Energy’s oil bloc in Ghana
Aker Energy Ghana AS, a subsidiary of Aker Energy AS has completed the acquisition of Hess Ghana, the operator of the Deepwater Tano Cape Three Points block (“DWT/CTP”) with a 50 percent participating interest in the license. A statement from the company copied to Citi Business News assured that “Aker Energy will work closely with…
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Tullow Plc targets more oil exploration in Ghana
The Chief Executive Officer of Tullow Oil Plc, Paul McDade has disclosed that the company will actively participate in the bidding process announced by government recently to allocate oil blocs to investors. According to him, the company will earmark about half a billion dollars to commence more oil exploration in Ghana if it wins the…
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GNPC, Rosneft sign gas supply agreement
The Ghana National Petroleum Corporation (GNPC) has signed a 12-year agreement with Rosneft, for the supply of natural gas to Ghana. The signing took place on the sidelines of the 26th St. Petersburg International Economic Forum, St. Petersburg, Russia. GNPC Board Chairman, Frederick Blay, signed on behalf of GNPC, with Igor Ivanovich Sechin, Chief Executive…
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Energy Ministry pushes for increase local content in oil industry
Energy Minister, Boakye Agyarko has given indication that the Ministry of Energy will focus on ensuring that more Ghanaians take advantage of investment opportunities in the petroleum sector. The local content and participation policy for the downstream sector was submitted to cabinet for consideration in 2017 and approved in 2018. But the draft policy is…