Category: Oil And Gas
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Ghana oil, gas and energy summit shines spotlight on exploration potential and latest midstream openings
Ghana’s vast hydrocarbon potential and the opportunities for investors to participate in the broader energy sector’s development were highlighted by Harry van Schaick, Managing Editor for Africa, Oxford Business Group (OBG), together with other economic analysts and industry experts recently at the Ghana Oil, Gas and Energy Summit 2022, which took place in Accra between…
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Nigeria set to stop importation of refined oil and refine its own oil by 2023
Nigeria is one of the world’s largest oil producers, yet, has failed to develop an oil refinery sector. Fortunately, the Nigerian Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed that Nigeria is a year away from refining its own crude oil. This report is according to Reuters, which stated that the minister had made the…
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Stakeholders push for development of national hydrogen policy
Stakeholders within the energy sector are pushing for speedy efforts toward developing a comprehensive national policy and a roadmap on hydrogen energy. This, Executive Chairman of the GMEA Group, Charles Laba, notes will activate the needed investment and business activity relating to hydrogen country as well as accelerate the country’s national energy and climate plan.…
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NPA directs OMCs to increase UPPF and BOST margin on fuel effective Dec. 1
The National Petroleum Authority (NPA) has directed Oil Marketing Companies and other industry players to increase the Unified Petroleum Price Fund (UPPF) and Bost margin on fuel effective December 1. A November 30 memo sent to the Oil Marketing Companies indicated that the firms were all to review the BOST Margin in their Price Build…
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Fuel prices to go down by 10% – IES
The Institute for Energy Security, IES, is projecting prices of petrol and diesel to go down between 10% and 8% from Thursday, December 1, 2022. This, the IES attributes to the 13.45% fall in the price of gasoline, the 11.63% fall in the price of Gasoil, and the 1.88% fall in the price of LPG.…
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Edwin Provencal emerges petroleum CEO of the year 2022
The Managing Director of the Bulk Oil Storage and Transportation Limited Company, BOST, Edwin Alfred Provencal was named the Petroleum Sector Chief Executive Officer of the Year, 2021. The honour was bestowed on him at the Ghana Energy Awards which event was held at the Labadi Beach Hotel on Friday 25th November 2022. The Ghana…
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Tullow Ghana committed to skills transfer – Managing Director
Tullow Ghana has reiterated its commitment to skills transfer and the actualisation of the dream of Ghanaian entities acquiring the requisite capacities to lead oil and gas activities with an organic team from Ghana to ensure rapid national development. Speaking during a panel discussion at the 2022 Local Content Conference and Exhibition in Takoradi, the…
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Gov’t to barter gold for oil – Bawumia
The Vice President, Dr. Mahamudu Bawumia, has hinted at a policy to use gold to make purchases of oil on the commodity market. Speaking at the AGI Awards night in Accra, Dr. Bawumia said this barter of sustainably mined gold for oil is key in addressing the economic crisis confronting the country. The cedi depreciated…
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Ex-Goldman banker, Asante Berko arrested over alleged bribery scheme
Former Goldman Sachs Group Inc. banker and former Managing Director of the Tema Oil Refinery, Asante Berko, was arrested on charges that he orchestrated bribes to Ghanaian officials while employed at the investment bank. A six-count August 2020 indictment unsealed last week in federal court in Brooklyn, New York, accuses Berko of conspiring with at…
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Revive TOR to provide reliable and affordable fuel – IES to Prez Akufo-Addo
The Institute for Energy Security, IES, has reiterated the need for government to do all it can to ensure the Tema Oil Refinery is revived, in the wake of hikes in prices of fuel at pump stations. The call by the Institute comes on the back of a recent announcement by President Akufo-Addo that steps…