Category: Oil And Gas
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Gov’t to critically vet gold, oil before export
Vice President, Dr. Mahamudu Bawumia has disclosed that government will be tough on inspecting oil and gold resources exported out of the country. According to him, government is working on a regulation that will give some state agencies the power to check and inspect total production of oil and gold before it leaves the country.…
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Sam Jonah blames low local investments for rising unemployment
Ghana’s inability to control critical sectors of the economy could partly be blamed for the rising unemployment in the country. This is the assertion of the Executive Chairman of Jonah Capital, Sam Jonah. Mr. Jonah who spoke at this year’s New Year School and Conference argued that the insignificant ownership in areas such as mining, communication and…
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Fuel prices to increase between 3 and 5%
Prices of fuel are expected to go up by between three and five percent for the second pricing window in January. The second pricing window period spans from Tuesday, January 16, 2018 till the end of the month. According to the Institute of Energy Security (IES), the development can be attributed to the increase in…
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Industry’s significant growth still triggered by oil sector
Citi Business News’ checks have shown that industry’s growth as has been touted by the government have been largely influenced by the oil sector. A development, some Economists also believe could have serious implications on the economy considering the exhaustive nature of the country’s oil resources. The revelation follows President Akufo Addo’s claims that industry…
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Analysts demand clarity over ExxonMobil agreement
Some energy sector analysts want government to come clear with the decision regarding direct negotiations with ExxonMobil over the latter’s preparations to start operations in Ghana’s oil industry. They argue that the seeming failure by the Energy Minister to resort to an open bidding process to select ExxonMobil, requires further scrutiny of the deal. The…
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ExxonMobil must abide by local content laws – Analyst
Oil industry analysts want authorities to enforce Ghana’s local content policies as new entrants join Ghana’s oil exploration industry. The comments also follow the commencement of operations of ExxonMobil in Ghana. The company is expected to sign an agreement with the government on Thursday, January 18, 2018, on the development. Citi Business News has been…
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ExxonMobil to commence operations in Ghana
American multinational oil and gas company ExxonMobil Corporation is to begin full operations in Ghana this year – 2018. It follows successful negotiations with Ghana to carry out exploratory works at the deep water cape three points. Citi Business News has gathered Government will next week Thursday 18th January, 2018, sign an agreement with the…
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Tullow Ghana upbeat about oil production in 2018
Tullow Ghana is upbeat about its oil production from the TEN and Jubilee fields this year. According to the company, it expects gross oil production from the TEN and Jubilee fields to average 139,800 barrels per day for the 2018 season. In its 2018 Trading Statement and Operational update, Tullow announced that it has secured…
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More LPG stations to be closed down–Hassan Tampuli
The Chief Executive of the National Petroleum Authority, Hassan Tampuli, has reiterated the Authority’s commitment to ensure LPG refill stations which fail to adhere to safety standards at their operation sites are shutdown, as it intensifies its monitoring and inspection exercise. The Authority has in the past been accused by the public of doing little…
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OMCs maintain prices for first pricing window in January
Oil Marketing Companies (OMCs) have maintained their prices at the pumps for the first pricing window in January 2018. Checks by Citi Business News at some major oil marketing companies have shown that the prices of fuel were kept unchanged for the period spanning January 1, 2018 to January 15, 2018. A litre each of…