Category: Oil And Gas
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No new CEO appointed yet – Gov’t replies GOIL
Government has dismissed reports that it has appointed a new CEO for Ghana Oil Company Limited (GOIL). The company had issued a statement reacting to reports that President Akufo Addo has appointed a new CEO for the company. GOIL rejected the reports explaining that the appointment could not have been done without recourse to laid…
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Job layoffs lurk over persistent power challenges – ICU
The Industrial and Commercial Workers’ Union (ICU) has renewed caution of massive job layoffs if the power supply challenges are not resolved anytime soon. The union contends that employers would be compelled to cut down on labour size due to increased cost of operation but a drop in production levels. “If this should continue, then…
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Power cuts to worsen over unpaid debts to WAPCo et al – Analysts
Analysts in the power sector fear the current disruptions in power supply would linger until such a time that government finds sustainable means to increase gas supplies to power the country’s thermal plants. According to them, the quantity of gas delivered by the Ghana Gas Company is insufficient to meet demands by the thermal plants.…
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Power cuts still on despite Energy Minister’s assurances
Consumers of electricity are still bearing the brunt of power cuts despite claims that the situation has since normalized. Power supply was cut to some parts of the Greater Accra region yesterday [Sunday]. The development is in sharp contrast with assertions by the Energy Minister, Boakye Agyarko of a stable power supply effective last Saturday…
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Listing GRIDCo on stock market: Managers discredit Kwabena Donkor’s claims
Managers of the Ghana Stock Exchange (GSE) have discredited claims by former Power Minister, Dr. Kwabena Donkor indicating his pessimism of the prospects of listing the Ghana Grid Company Limited (GRIDCo) on the stock exchange. According to the Managing Director of the GSE, Kofi Yamoah, the decision is a laudable one and should be supported…
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GOIL dismisses ‘change of CEO report’
Indigenous Oil Marketing Company, GOIL has dismissed reports indicating that Presdent Akufo-Addo has appointed one Mr. Osei Prempeh as its new CEO. According to a press statement signed by GOIL’s Board Chairman, Prof. William Asumaning, the company is listed on the Ghana Stock Exchange(GSE), hence has procedures in appointing its head, which must comply with…
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Power supply will stabilise from today – Energy Minister
Energy Minister, Boakye Agyarko has assured consumers of stable power supply effective today evening. The assurance follows what he says is the completion of works for the interconnection between the Tweneboa, Enyera, Ntomme (TEN) fields and the Jubilee Field for gas exportation to the Ghana Gas Company. According to the Minister, the intermittent power cuts…
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OMCs demand ease of registering businesses
Some Oil Marketing Companies (OMCs) are advocating for all processes in registering their businesses to be streamlined. The petroleum distribution companies believe the current practice delays the process which makes it unattractive for the business to expand and promote competition. Though the Managing Director of Petroleum Limited, Emmanuel Pobee admits of some initial constraints in…
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ACEP pushes for a transparent petroleum sector under NPP
The African Centre for Energy Policy (ACEP), has impressed on the NPP government to pursue processes to enact regulations to guide the effective implementation of the Petroleum Exploration and Production (E&P) law. The Centre believes the regulations should intensify the call for transparency and value for money in the petroleum sector. The energy think tank…
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No need for energy levy cuts due to US$ 2.4bn debt- IECP
Despite assurances from President Akufo Addo to grant some tax cuts in the power sector, the Institute of Energy and Climate Change Policy (IECP) has cautioned that any attempt to review the energy sector levy downwards may cause a power crisis due to the huge debts crippling the sector. President Akufo-Addo during his maiden State…