Category: Oil And Gas
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Procurement delays impeding new oil explorations – GNPC CEO
The Ghana National Petroleum Corporation, GNPC, has appealed to President Akufo Addo to intervene and grant the necessary approval in the proposed oil exploration activities in the Voltaian basin. The CEO of GNPC, Dr. Kofi Koduah Sarpong explains that Ghana may miss out on potential increase in oil revenue due to increased exploration activities should…
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Ghana must intensify laws governing mineral resources- Report
Some analysts in the mining industry want government to intensify laws governing the management of mineral resources to give value to citizens. They argued that the current practice where managers overlook certain best practices has serious implications if unchecked. These are the outcomes of the 2017 Resource Governance Index report which ranked Ghana 13th in…
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GNPC begins processes to relocate to Takoradi
The Ghana National Petroleum Corporation, GNPC, has disclosed it has commenced processes to relocate the company’s operations to Takoradi in the Western region. According to the CEO of the GNPC, Dr. Kofi Koduah Sarpong, the outfit is embarking on this action to bring the development associated with the oil find and its operations, closer to…
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We will manage oil revenue to benefit all – Nana Addo
President Akufo Addo has committed to the efficient use of Ghana’s oil revenue to give value for money and protect the interest of Ghanaians. According to him, Ghana has no reason not to improve the lot of citizens with a decade of commercial oil exploration. The President was also hopeful the judicious use of the…
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Sankofa oil revenue: Analysts advise on past experiences in Jubilee, TEN
As commercial oil production begins on the Sankofa Gye Nyame field, some players in the oil and gas industry have called for stringent measures in the management of the oil revenue. According to them, the government must work to avert some mistakes witnessed in the exploration of oil and management of revenue from the Jubilee…
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First oil flows from Sankofa Gye Nyame oilfields
President Akufo-Addo has officially commissioned the Sankofa Gye Nyame field for the commencement of the commercial exploration of oil. The Sankofa Gye Nyame oil field is the third after the Jubilee and TEN oilfields all in the Western region. The production was preceded by a commemorative turning of the valve on the FPSO John Agyekum…
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Financial institutions to buy into energy sector bond
Some financial institutions in the country have indicated of their readiness to buy into the energy sector bond yet to be released by government later this year. This they believe will aid government get the energy sector back on a strong financial footing. Dr. Bawumia at the spring meetings in Washington in April this year,…
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Contaminated fuel: Committee to advice on way forward – Boakye Agyarko
The Energy Minister, Boakye Agyarko has indicated that the eight member committee tasked to look into the alleged sale of 5 million litres of contaminated fuel to Movenpiina, would now offer advice to the Minister on how to avert the possible sale of contaminated or off-spec products. According to him, the mandate also comes after…
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No wrongdoing in sale of contaminated fuel- Gov’t
The Minister for Energy, Boakye Agyarko, has refuted claims by the minority group in parliament that the BNI and National Security are covering up rot at the Bulk Oil Storage and Transportation Company Limited (BOST). The Minority Leader, Haruna Iddrisu, at a press conference accused the BNI of covering up malfeasance in the sale of…
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Lands Ministry sets July 19 to start integrated mining project
The Ministry of Lands and Natural Resources has indicated that it will by the 19th of July, 2017, implement the Multilateral Mining Integrated Project (MMIP) aimed at sanitizing the country’s mining sector. According to a resource governance index report by the Natural Resource Governance Institute (NRGI), Ghana ranked 24th out of 81 countries involved in…