Category: Oil And Gas
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New diesel sulphur content rules to take off tomorrow
Effective Saturday, July 1 2017, all imported diesel into Ghana should have a minimum sulphur content of not more than 50 million parts per million, barring any last minute changes. This follows the implementation of the new regulation by the National Petroleum Authority (NPA). A study by the African Centre for Energy Policy (ACEP) and…
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FPSO shutdown not to exceed 12 weeks – Tullow
Tullow Oil has announced that its planned shutdown of the FPSO Kwame Nkrumah later this year, will not exceed the proposed twelve weeks. Tullow is expected to shut down its Jubilee fields operations later this year for the stabilisation, rotation and offloading system installation. It also comes on the back of the faulty turret bearing…
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Gov’t sets up c’ttee to probe BOST contaminated fuel sale
The Energy Ministry has set up an eight-member investigative committee to look into the Bulk Oil Storage and Transportation (BOST) company’s controversial sale of 5 million litres of contaminated fuel. The committee has been mandated to determine the circumstances that led to the contamination of the fuel and review the transaction, among others. The committee will…
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Solving power challenges: Yantei Jereh begins works on gas pipeline
Government has announced the construction of an onshore natural gas transmission pipeline from Takoradi in the Western region to Tema in the Greater Accra region to transmit natural gas to power generation plants. It follows the signing of a Project Implementation Agreement (PIA) for the Aboadze-Tema Natural Gas Transportation Pipeline and gas infrastructure Project. The…
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BOST contaminated fuel saga: The NPA’s key findings
The National Petroleum Authority (NPA) confirmed that the two companies alleged to have purchased the over 5 million litres of contaminated fuel under suspicious circumstances from the Bulk Oil Storage and Transportation (BOST) Company were not licensed. According to the NPA, it will take legal action against the firms, whiles it conducts further investigation to determine…
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Interdict BOST Director over sale of contaminated fuel – Minority
The Minority in Parliament has called for the immediate interdiction of the Managing Director of the Bulk Oil Storage and Transportation (BOST)Company, Alfred Obeng Boateng, over the sale of 5 million litres of contaminated fuel. This call comes barely 24-hours after ACEP also called on the CEO of BOST to step aside for investigations into…
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BOST defends sale of ‘contaminated’ fuel to oil company
The Bulk Oil Storage and Transportation Company (BOST) has defended its decision to sell off contaminated or off-spec product to oil company, Movenpiina. Documents sighted by Citi Business News indicate that BOST has agreed to sell 5 million litres of the product to the company at a cost of 1 cedi per litre. This is…
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Ghana to lose GH¢7 million over sale of contaminated fuel
Ghana is likely to lose about 7 million cedis in revenue following attempts by the Bulk Oil Storage and Transportation Company Limited (BOST) to sell contaminated fuel to some oil marketing companies. Documents sighted by Citi Business News indicate that BOST has agreed to sell about 5 million litres of contaminated fuel to Movenpinna Energy.…
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Ghana Gas denies reports of ‘missing’ $47.4m gas funds
The Ghana National Gas Company has dismissed reports suggesting that it is unable to account for some $47.4 million accrued from the sale of raw gas to the Ghana National Petroleum Company (GNPC). Ghana Gas, in a statement signed by the Corporate Communications Manager of Ghana Gas, Ernest Owusu Bempah, described such reports as “untrue…
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ACEP opposes hedging, wants stabilization fund fortified
The African Center for Energy Policy (ACEP) has opposed calls for Ghana to hedge its oil against global price fluctuations. According to the Executive Director of ACEP, Benjamin Boakye, the move will rather be injurious to the country’s economy in the long run. He rather advocated that the Bank of Ghana and Ministry of Finance…