Category: Oil And Gas
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Karpower deal extension: IES warns of rise in power costs (Audio)
The Institute of Energy Security (IES) is cautioning of an eventual increase in the cost of power generated from the Karpowership over the continuous payment of capacity charges. The IES believes this will also defeat the immediate claims by the government of reducing the cost of power produced from the power barge. The comments come…
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Red flags over local content in ECG as bidders submit proposals (Audio)
Ghana could be losing significant benefits from the power sector in the absence of a local partner for the concessionaires bidding to assume management of the Electricity Company of Ghana (ECG). This is the concern of Policy Analyst with ISODEC, Dr. Steve Manteaw. His argument follows the submission of proposals by two companies bidding for…
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Bidders for ECG concession drops to two
Citi Business News can confirm that the number of bidders for the private sector participation in the Electricity Company of Ghana (ECG) has dropped to two. The latest follows the close of submission of request for proposals today, March 26, 2018. A statement from the Millennium Development Authority (MiDA) and copied to Citi Business News…
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We need a module to determine allocation to GNPC—Boakye Agyarko
Ghana’s oil sector will suffer a major setback if industry players and the government do not decide on a single module to run the oil industry. This is the assertion of the Minister for Energy, Boakye Agyarko. According to him, the non-existence of a single module to define allocation of funds to the Ghana National…
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Aker Energy quickens process to start oil drilling in 2021
Norwegian oil company, Aker Energy, has disclosed to Citi Business News it is hoping to start its oil exploration activities in Ghana by the end of 2021. The company explains that it is working to complete the necessary processes to get clearance from the government to start operations. The CEO of Aker, Jan Arve Haugan…
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Bawumia to Deliver Keynote Address at 6th Edition of EOBS
Vice President, Dr Mahamudu Bawumia is expected to deliver the keynote address at the sixth edition of Ghana Economic Outlook and Business Strategy Conference (EOBS) on Wednesday 21 March, 2018 at Labadi Beach Hotel, in Accra. He will lead business executives, policy makers, among others to discuss issues on the oil and gas industry in…
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No significant increase in fuel prices-IES
The Institute of Energy Security (IES) has predicted prices of petroleum products to remain stable for the second pricing window in March. The IES largely attributes the prediction to the insignificant increase in the price of key indicators such gasoline on the international market. “Fortunately for consumers in this window, the international indicators have been…
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GNPC still interested in Voltain Basin, looking for investors
The Ghana National Petroleum Corporation (GNPC) has reassured that it has not abandoned oil exploration in the Voltain Basin. The GNPC, some years ago announced that it will commence onshore oil exploration at the Voltain Basin, but checks by Citi Business News show that the corporation is yet to inject the needed funds in the…
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MODEC appoints 1st female offshore Production Technician Trainee
MODEC Ghana Limited has appointed Portia Ama Anobea Oduro as the first female offshore Production Technician Trainee. Portia is the only female among sixteen (16) other male candidates. Her appointment also comes after four years of brazing the odds to succeed in her chosen career. A native of Kwahu-Nkwatia, Porita had her high school education…
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Govt must clear all debt by April–BDCs
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi has told Citi Business News members of the chamber are expecting government to clear the final part of debt owed them by next month. The total debt as at 2016 owed Bulk Oil Distribution Companies was estimated to have hit about…