Category: Energy
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BOST holds first Annual General Meeting 29 years after its establishment
The Bulk Oil Storage and Transportation (BOST) Limited Company has held its maiden Annual General Meeting since its establishment in 1993. The event, which took place at the Movenpick Ambassador Hotel in Accra on Wednesday, September 14, 2022, had many dignitaries gracing it with their presence. The AGM also comes as a great achievement to…
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‘BOST Margin will not be taken off anytime soon’ – Energy Minister assures
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured that government will judiciously use the BOST Margin. The margin is a tax imposed on petroleum products, which is used to cover the maintenance and operating cost of petroleum product depots and expansion programs at the depots. Currently, it stands at nine pesewas per liter…
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LPG Marketers Association promise availability of product after strike
The LPG marketers Association of Ghana is assuring consumers they would get products to buy from the retail outlets of its member across the country. This comes after an earlier strike by the association over an embargo instituted by the government on the construction of new LPG stations in 2017. The development left many consumers…
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New GNPC CEO leads delegation to Appo Energy conference in Abuja
The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Opoku Ahweneeh-Danquah, is today leading a high-powered delegation to a two-day petroleum conference of Chief Executive Officers (CEO’s) of National Oil Companies (NOC’s) of African Petroleum Producers’ Organisation (APPO) in Abuja, Nigeria. The African Petroleum Producers Organisation (APPO) is a 16-member intergovernmental energy organisation…
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GOIL’s profit after tax rises by 9% to hit GH¢ 98.7 million in 2021
Leading Oil Marketing Company GOIL has recorded significant growth in key areas of the company’s operations such as its profit after tax, total assets and volume of fuel sold in 2021. This was revealed at GOIL’s 53rd Annual General Meeting held in Accra. The 53rd Annual General Meeting of GOIL which was held on the…
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IES predicts petrol will sell above GH¢10 per litre in coming weeks
The Institute for Energy Security (IES) is projecting a rise in price of Gasoline (Petrol) ranging from 5 percent to 9 percent in the first pricing window of June. The Institute is however predicting some form of stability in the prices of Gasoil (Diesel) and Liquefied Petroleum Gas (LPG) in the same period. Per the…
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Fuel shortage: New policy to ensure direct delivery of fuel products underway – NPA
Government is currently implementing a new policy to ensure the direct delivery of fuel products to the country’s ports without bulk distributors. The policy, which differs from the previous arrangement where BDCs dealt directly with international oil companies is meant to prevent any instances of fuel shortage in the wake of the Russian-Ukraine war that…
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COPEC demands timelines from gov’t on when TOR’s rehabilitation will be completed
The Chamber of Petroleum Consumers Ghana (COPEC) is demanding for accurate timelines as to when the rehabilitation of the Tema Oil Refinery will be completed as promised by government. President Akufo-Addo, in his May Day address on Sunday, disclosed that his government has begun the rebuilding of the state-owned refinery which has not been fully…
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COPEC insists gov’t must scrap taxes on petroleum products
The Chamber of Petroleum Consumers (COPEC) insists the government must consider a policy to scrap some taxes off petroleum products, despite the President’s decision not to. President Akufo-Addo speaking during this year’s May Day parade on Sunday dismissed calls on the government to reduce taxes on petroleum products, describing it as an unsustainable move to…
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Gov’t urged to introduce policies to ensure proper utilization of petroleum revenues
Economist, Dr. Theophilus Acheampong has criticized government’s utilization of resources from the country’s petroleum funds. The Ghana Petroleum Fund is meant to channel excess petroleum revenue into financial instruments for sustaining public expenditure capacity during periods of unanticipated petroleum revenue shortfalls and serve as an endowment to support the development for future generations. They comprise…