Category: Oil And Gas
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450MW Karpowership to stabilize power supply – ACEP
The African Center for Energy policy (ACEP) is hopeful the arrival of the 450 megawatts Karpowership will help improve power supply in the country. The new power generating vessel replaces an earlier once with a lower capacity of 225 megawatts at Tema. Citi Business News understands that the ship has arrived in Ghana’s territorial waters…
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Work to get relevant laws passed – Minister to PC Board
Energy Minister, Boakye Agyarko has charged the new Board of Directors of the Petroleum Commission to work to get outstanding legislations on their operations passed into law by the end of the year. The Commission is seeking to get the Data Management Regulations and the Health and Safety Regulations by December this year. The two…
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SMEs lost GH¢250m to dumsor – Report
Ghana lost at least 200 million cedis in revenue accruing from the operations of Small and Medium Enterprises (SMEs) due to the impact of the power crisis on such businesses between 2012 and 2015. This is according to a new research conducted by the Institute of Statistical Social and Economic Research (ISSER) and the International…
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COPEC pushes for measures to mitigate $ 1.5bn loss to illegal fuel
The Chamber of Petroleum Consumers (COPEC) says Ghana is at a high risk of losing more revenue if it continues to ignore the fuel smuggling menace in the country. COPEC believes strongly that the government has turned a blind eye to the fuel smuggling issue which if not handled properly, will affect all consumers. “Indeed…
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Resist pressure for illegal siting of fuel stations – Prof. Frimpong Boateng
The Minister of Environment, Science, Technology and Innovation (MESTI), Professor Kwabena Frimpong Boateng, has advised the Environmental Protection Agency (EPA) and the National Petroleum Authority (NPA) to resist persuasion and pressure from influential people in society to site fuel stations at wrong places. Fuel and gas stations have claimed lives of hundreds of Ghanaians across…
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Gov’t woos foreign investors for its $ 2.4 bn energy sector bond
Foreign investors have shown interest to buy government’s 2.4 billion dollar energy sector bond. Citi Business News understands this is the response following an international road show by the transaction managers for the energy sector bond. The Deputy Energy Minister in charge of Finance, Joseph Cudjoe who disclosed this to Citi Business News explained that…
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BOST fuel saga: Investigative committee resolute with ambitious mandate
The newly inaugurated committee set up to investigate the off-spec products at the Bulk Oil Storage and Transportation Company (BOST) has resolved to carry out its mandate with much enthusiasm. The nine-member committee is confident that its work will lead to a turnaround in the operations at the petroleum products distributing company. [contextly_sidebar id=”A1WXjHx0w2ZQMdtRaW9bmi9Db5EDvrmP”]The Chairman…
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ACEP pushes for local technology use in Ghana’s extractive sector
The African Centre for Energy Policy (ACEP) has warned government against its over reliance on foreign partners in providing skills and technology needed to extract the country’s natural mineral resources. The energy think tank bemoans what it describes as the huge sums of monies spent to import such skills and technology. ACEP argues this is…
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Investors upbeat about moves to clear energy sector debt
Investors are optimistic government will be able to clear its huge energy sector debt within the next five years. They attribute this to the positive key indicators that are playing in the sector. This, however, comes at a time that majority of businesses are complaining about the high power charges in the country. President Akufo-Addo has…
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Minister charges new ECG Board to solve labour agitations
The Minister of Energy, Boakye Agyarko, has charged the new board of directors of the electricity company of Ghana (ECG) to embark on a pragmatic process to safeguard jobs ahead of the Private sector participation in the company. According to him, the power distributing company risks a worsening performance if staff issues are not duly…