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Kosmos wins $14m in court case against Tullow

kosmos energy

A panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has ruled in favour of Kosmos Energy Ghana in relation to its dispute with Tullow Ghana Limited over the West Leo Rig. This was announced in a statement released by Tullow Oil. In this regard, Tullow Oil is to reimburse Kosmos Energy, some 14 million dollars ...

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Fuel prices to reach GH¢4.99 cedis per litre


Consumers should be paying an additional 15 pesewas per litre on fuel they purchase at major fuel pumps from today till the end of this month [July]. This will be the case barring any last minute intervention by the National Petroleum Authority (NPA) to cushion consumers from high prices. The institute of Energy Security (IES) has predicted that fuel prices ...

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Fuel prices to go up by 3 percent


The Institute of Energy Security (IES) is predicting a 3 percent increase in fuel prices for the second  half of July. According to the institute, prices will go up by about three percent barring an intervention from the National Petroleum Authority (NPA). In an interview with Citi Business News, Research Analyst at the IES Mikdad Mohammed attributed the expected increase ...

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ENI gas production to reduce cost of electricity–KITE


Cost of electricity to homes and factories are expected to be reduced in the coming months following the start of gas production by ENI. That is the verdict of the Executive Director of the Kumasi Institute of Technology, Energy and Environment (KITE) Ghana, Ishmael Agyekumhene. ENI last week[3, July 2018] started gas production from the Sankofa field in the Offshore ...

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PIAC to engage Special Prosecutor on oil money expenditure


The Public Interest and Accountability Committee (PIAC) would soon hold a meeting with Martin Amidu, the Special Prosecutor (SP) over the disbursement of revenue accruing from oil resources, Dr. Steve Manteaw, Chairman of the Committee, has disclosed. He said the meeting would focus on the need for collaboration between PIAC and the Special Prosecutor to strictly monitor the utilization of ...

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Otumfuo asks NPA to step up efforts to ensure public safety


The Asantehene,  Otumfuo Osei Tutu II has urged industry players in the petroleum sector to collaborate with in order to ensure effective product delivery, and economic growth. The Asantehene was speaking at his Palace in Manhyia when the Chief Executive of the National Petroleum Authority (NPA), Hassan Tampuli, led a delegation made up of some members of the board, directors ...

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Tullow Oil to pay $254m for terminating rig contract in Ghana

tullow plc

A London judge has ordered Tullow Oil to pay rig owner Seadrill about $254 million for wrongfully terminating a rig contract it had with the company in Ghana on grounds of force majeure over a maritime dispute. Tullow cancelled the contract for Seadrill’s West Leo rig in December 2016 after Ghana set a drilling moratorium on its TEN offshore oil ...

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Kosmos Energy supports 8th Agribusiness Exhibition


The 8th edition of the Pre-Harvest Agribusiness Exhibitions & Conference has received a major boost as Kosmos Energy, one of the world’s leading oil and gas production companies, and a partner at Ghana’s biggest oilfield the Jubilee Field, has presented a cheque as part of its sponsorship package towards the organisation of the event. At an impressive ceremony held in ...

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Saltpond Oilfield ‘wasting’ petroleum revenue – PIAC

Dr. Steve Manteaw - Chairman, PIAC

The Public Interest and Accountability Committee, PIAC, wants the Ghana National Petroleum Corporation (GNPC) to expedite processes to decommission the Saltpond Oil Production Company Limited. PIAC is alarmed at how the non functioning oilfield is still draining the nation’s meager oil resources and impeding other investments. The need to decommission the Saltpond oilfield forms part of ten themes on the ...

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PIAC accuses GNPC, GRA of ‘hijacking’ Ghana’s oil cash


The 2017 Annual Report published by the Public Interest and Accountability Committee (PIAC), has indicted two state institutions, the Ghana Revenue Authority (GRA), and the Ghana National Petroleum Corporation (GNPC) for hijacking monies realized from Ghana’s oil sector. According to PIAC, instead of releasing the monies to the Ghana Petroleum Holding Funds as stated by law, the institutions keep them in their ...

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