Category: Oil And Gas
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NPA debunks RFO shortage rumors
The Chief Executive Officer(CEO) of the National Petroleum Authority(NPA), Hassan Tampuli has debunked rumors of a shortage of Residual Fuel Oil (RFO) in the country. This follows some rumors of an alleged shortage of the product which is used by factories in the country to generate steam in their broilers. Some factories in Tema recently agitated over…
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3.2 billion cedis accrued from energy sector levies
Government accrued a little over 3.29 billion cedis in 2016 from energy sector levies, a report, presented to Parliament by the Finance Minister Mr Ken Ofori Atta has revealed. The Annual report on the management of the energy sector levies and accounts for 2016, also revealed that total amount of GH¢3,256.29 million was programmed to…
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Tullow to drill new wells by year end
Tullow Ghana has told Citi Business News it will by the end of this year [2017] commence the drilling of additional wells in the West Cape Three Points as part of operations of the TEN oilfields. It follows the judgement by the Special Chamber of the International Tribunal for the Law of the Sea (ITLOS)…
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Maritime dispute win to boost Ghana’s economy
Analysts in the oil and gas sector are anticipating a judgement in favour of Ghana at the landmark case involving Ghana and Ivory Coast at the International Tribunal of the Law of the Sea (ITLOS). The Special Chamber of ITLOS is expected to deliver its ruling on the three-year dispute between the two countries. Ghana,…
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Ghana awaits maritime dispute ruling with ‘fingers crossed’
President Akufo Addo says his government will not make any pronouncements on the yet to be delivered judgment on the maritime border dispute between Ghana and Ivory Coast. Nana Addo maintains that a lot of work is ongoing on how best to handle the outcome of the three year dispute. The International Tribunal of the…
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![Fuel prices hit all-year-high [Infographic]](https://citibusinessnews.com/wp-content/uploads/2015/11/FUEL-STATION-1.jpg)
Fuel prices hit all-year-high [Infographic]
Ghanaians are currently paying more for petrol and diesel few months after enjoying fairly low prices. Current figures from the petroleum industry show that, prices of the two products at the various fuel stations have hit all time high, with petrol selling at an average of GHc4.29 at the pumps, and diesel going for an…
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White & Case advises GNPC on landmark gas deal
Global law firm White & Case LLP has advised the Ghana National Petroleum Corporation (GNPC) on a landmark liquefied natural gas (LNG) regasification project located in Tema, Ghana. Under the structure of the deal, Gazprom Global LNG Limited, a global subsidiary of global energy giant PAO Gazprom (Gazprom), the world’s largest gas producer, will supply…
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Fuel prices increase by 3% average in 2017
Consumers should be paying more for fuel they purchase at the various pumps from Tuesday, September 19, 2017 as Oil Marketing Companies (OMCs) begin to adjust their prices to reflect the increase in the prices of their products. If the prediction by the Institute of Energy Security (IES) is anything to by, then prices will…
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Cedi depreciation, US floods increase petroleum prices
Consumers should brace themselves to pay more for fuel for the second pricing window in September 2017. It follows an anticipated 7 percent rise in the prices of petroleum products. According to the Institute of Energy Security (IES), this is highly due to the effect and great impact Hurricane Harvey had on oil refineries across…
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GRIDCo to lead low power costs drive
Perhaps a key mandate of the new board of the Ghana Grid Company Limited (GRIDCo) will be to quicken the move to reduce the cost of electricity in Ghana. This will help meet the government’s objective of making Ghana very competitive within the sub-region with regards to pricing of electricity for consumers. In a speech…