Category: Energy
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Fuel prices cross GHS8.00 per litre
Fuel prices at some fuel stations continue to rise, crossing the GHS8 per litre mark in the first week of March 2022. This is expected to have a ripple effect on other Oil Marketing Companies, which will also adjust their prices upwards. Only two weeks ago, fuel prices averaged GHS6.4 per litre as the Price…
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Russia-Ukraine tensions, Cedi depreciation may increase fuel prices by 4% – IES
As the country continues to suffer fuel price hikes and increases in transport fares, consumers may have to brace themselves for more shocks in the next few days. The Institute for Energy Security (IES) is predicting a four percent increase in the prices of Liquefied Petroleum Gas (LPG), Diesel, and Petrol at the pumps in…
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Ghanaians urged to assume leading roles in energy sector to boost local content
Energy Minister, Dr. Matthew Opoku Prempeh has reiterated calls for Ghanaians to assume leading roles in the various sub-sectors under the country’s energy sector. According to him, the practice of expatriates being awarded huge contracts due to the lack of skills and technical know-how among Ghanaians must be addressed. To achieve this, he believes more…
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Ghana still working to improve local content in Oil & Gas industry- Akufo-Addo
President Akufo-Addo says Ghana is still struggling to get more local companies to participate in the oil and gas industry years after laws allowing local content were enacted. The President was speaking at this year’s International Energy Conference and Expo in Guayana. Ghana’s local content policy underpinned by L.I 2204, is geared towards a progressive…
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Suspension of PSRL was an unrealistic way of tackling fuel price hikes – IES
The Institute for Energy Security (IES) has described the suspension of the Price Stabilization and Recovery Levy (PSRL) as an unrealistic strategy for bringing down domestic fuel prices. Prices of fuel have gone up at the pumps across the country because the levy, which is a key component of the fuel price build-up, has been…
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Fuel price hikes: Gov’t urged to use windfall from oil export to cushion Ghanaians
As the price of Brent crude oil continues to surge on the international market, hitting US$86 per barrel as of January 17, 2021, the government is being urged to use the extra income it is making from selling Ghana’s oil to cushion Ghanaians at the pumps. In the 2022 budget, the government pegged a barrel…
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COPEC blasts government for silence on rising fuel prices in 2022 budget
The Chamber of Petroleum Consumers (COPEC) is disappointed that the government did not propose any policy in the 2022 budget to address the continuous hikes in fuel prices. This comes on the back of another increment in the price of fuel from GH¢6.90 to GH¢6.99 per litre. A drive-through town on Sunday to ascertain the…
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Energy sector workers risk losing their jobs if power loses are not curbed – Energy Minister
Energy Minister Matthew Opoku Prempeh says the jobs of staff of the Electricity Company Ghana Limited and other power distribution companies will be at risk if the energy sector continues to record the level of losses the industry is currently recording. The Electricity Company of Ghana is on record to be losing as much as…
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Ebenezer Essienyi replaces Jonathan Amoako-Baah as new GRIDCo boss
The Board of the Ghana Grid Company Limited (GRIDCo) has confirmed Ing. Ebenezer Essienyi, as the new Chief Executive of the company. This follows the nomination of Ing. Essienyi by the President, Nana Addo Dankwa Akufo-Addo. Ing. Essienyi, who is a member of the Senior Management team of GRIDCo, succeeds Ing. Jonathan Amoako-Baah, whose successful…
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Ameri deal: Contract sum reduced by 13% after renegotiation – Amin Adam
A Deputy Minister-designate for Energy, Dr. Mohammed Amin Adam, says the committee tasked by President Nana Addo Dankwa Akufo-Addo to renegotiate the contract sum of the Ameri power agreement succeeded in getting the amount reduced by 13%. He said the committee also managed to secure a favourable payment term for a $90 million amount that…