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Oil And Gas

Tullow, Jubilee partners support June 3 disaster victims

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Tullow Oil and the Jubilee Partners have presented a cheque for GH₵500, 000 to the 37 Military Hospital to assist them in the delivery of medical care to victims of the recent floods and fire disaster. Managing Director of Tullow Oil, Charles Darku, who made the presentation, told journalists that the gesture was a way of sharing in the plight ...

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OMCs to display fuel prices from today

Oil Marketing Companies (OMCs) will start announcing their ex-pump prices for petroleum products and display these prices at their retail outlets from today June 16th, 2015. This is according to a statement issued by the National Petroleum Authority (NPA). The NPA made known its intentions to no longer be involved in the pricing of petroleum products some weeks back. The ...

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Massive fraud scam hits Tullow Ghana

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Lead operator of the Jubilee oil field, Tullow Oil has warned the public against fraudsters who are using the company’s name to swindle people of huge amounts of money. A public notice by Tullow Oil released today June 15th, 2015, cautioned the public against falling for contract award proposition scams and employment fraud. According to Tullow Ghana, its name and ...

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We trust BDCs to fairly price fuel – Moses Asaga

NPA

The National Petroleum Authority (NPA) has said it trusts the Bulk Oil Distribution Companies (BDCs) to fairly price petroleum products. The Authority’s Chief Executive Officer (CEO), Moses Asaga on the Citi Breakfast Show said although his outfit will no longer be involved in the pricing of petroleum products, it will still have an oversight responsibility. “The NPA will still be ...

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BDCs to start setting petroleum prices this month

crudeoil

Government has confirmed to Citi Business News that the National Petroleum Authority (NPA) will not be involved in the pricing of petroleum products effective June 15. This is part of the full deregulation of the petroleum downstream sector. Bulk Oil Distribution Companies (BDCs), importers of the petroleum products will be allowed the free hand to price their products to reflect ...

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Agreement ends Nigerian fuel impasse

A major fuel strike which left domestic airlines grounded, gas stations dry, and banks closing early has been resolved. Fuel wholesalers had stopped distributing petroleum, claiming the government owed them $1 billion. Government officials said the wholesalers had been fully paid. Peter Akpatason, recent president of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and now a lawmaker, ...

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Tullow justifies dismissal of Ghanaian workers

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Tullow oil PLC has justified the dismissal of close to 70 of their workers in Ghana despite revelations that their operational cost for drilling a barrel of crude stands at 10 dollars. The lead operator of the jubilee field, Tullow Oil Ghana blamed the decision to lay off the workers on the plunge in the price of crude on the ...

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OPEC unlikely to cut output

crudeoil

The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday. Asked if OPEC would cut output at the upcoming June 5 meeting, Iran’s Deputy Oil Minister Rokneddin Javadi told Reuters: “I don’t think so.” Iran, along with Venezuela, has repeatedly called for ...

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ExxonMobil to begin operations in Ghana

ExxonMobil-

Citi Business News can confirm oil giant ExxonMobil is to begin operations in Ghana. According to state owned oil firm, Ghana National Petroleum Corporation (GNPC,) ExxonMobil has signed a Memorandum of Understanding (MOU) with it to purchase an oil block close to the Hess and Jubilee fields. GNPC’s CEO Alex Mould told Citi Business News ‘we are attracting the right ...

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GNPC to finalize $400 million ENI loan

GNPC

The Chief Executive of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has revealed that the state-run oil giant will soon be in the international market to finalize the transaction covering a $400 million dollar loan that will support new capital investments. GNPC’s intention to seek foreign cash for its operations without first obtaining Parliamentary approval has triggered a never-ending ...

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