Tag: ACEP
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Electricity subsidy must be targeted to sustain power sector – ACEP
The Africa Centre for Energy Policy, (ACEP), has warned that government’s introduction of a complete waiver of the electricity bill of lifeline consumers of electricity and 50 percent reduction for all other consumers using March 2020 bill as the benchmark, will “endanger the sustainability of the power sector now and after the COVID-19 pandemic.” According…
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Spending Heritage Fund now won’t solve Ghana’s problems – ACEP cautions gov’t
The African Centre for Energy Policy, ACEP, says efforts by government to draw funds from the Ghana Heritage Fund to stem the spread of the Coronavirus pandemic is not acceptable. The Think Tank says the use of the Fund is ‘akin to telling citizens to go for their pension because they are faced with challenges…
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ACEP pushes for supplementary budget to manage impact of low oil prices, COVID-19
The African Centre for Energy Policy, ACEP, is calling on government to prepare a supplementary budget that will help manage the effects of low oil prices on the market. According to ACEP, the impact of revenue shortfalls from the oil and gas sector due to price volatility on the international market, has severe implications for…
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ACEP urges 40% projected revenue in Stabilization Fund against oil price volatility
In order to avoid the impact of revenue shortfalls from the oil and gas sector often due to price volatility on the international market, the Africa Center for Energy Policy (ACEP), is asking government to secure at least a 40 percent projected revenue in the Stabilization Fund. According to a report on petroleum funds published…
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ACEP builds dossier on poorly executed oil-funded projects to demand prosecution
The Africa Center for Energy Policy (ACEP) is worried that Ghana may not have a good story to tell in terms of how its revenue from the petroleum industry has been utilized. ACEP, which has complained about how oil funded projects are either abandoned or executed poorly, says it is putting together a dossier to…
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ACEP demands basis for direct negotiations for oil blocks
The African Centre for Energy Policy (ACEP) is demanding answers over the existence of direct negotiations in the allocation of oil blocks. In ACEP’s view, this contravenes aspects of the law which states that a petroleum agreement shall only be entered into after an open, transparent and competitive tender process. The energy think tank says…
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Fuel transport: ACEP proposes utilization of pipelines
The African Centre for Energy Policy (ACEP) wants the mandate of the Bulk Oil Storage and Transportation Company, BOST to be reviewed to deepen its storage capacity. ACEP explains that this should help in finding a lasting solution to the intermittent challenges associated with fuel transportation in Ghana. The comment also follows the sit down…
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Cancel non functional oil blocks – ACEP to government
The Africa Center for Energy Policy (ACEP) has called for a review of contracts that are given to companies that are mandated to drill oil in the country. According to the Executive Director of ACEP, Benjamin Boakye, such a move is necessary as most companies that have signed contracts with Ghana after its oil discovery…
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Depreciating cedi to negate fuel price drop – ACEP
The Executive Director of the Africa Centre for Energy Policy (ACEP), Ben Boakye has told Citi Business News petroleum prices at the pumps will not experience any significant drop in the coming weeks, even though crude oil price continues to drop on the international market. According to him, a continuous depreciation of the cedi against the…
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ACEP demands swift passage of mineral revenue management law
The African Centre for Energy Policy (ACEP) wants the government to make do its promise of passing the Mineral Revenue Management Law to track revenue made in the mining sector. The government is yet to pass the law almost two years into its administration. A development, ACEP believes raises concerns on the future of investments…