Tag: COPEC
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COVID-19: COPEC calls for emergency support for oil and gas companies
Following the economic impact of the novel Coronavirus on individuals and businesses, the Chamber of Petroleum Consumers (COPEC) is urging government to consider providing emergency assistance to oil and gas companies. According to COPEC, a lot of these companies are, “are reeling heavily under the harsh effects of our 3 weeks lockdown and subsequent low…
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Resolve challenges with UNIPASS to prevent fuel shortage – COPEC to Gov’t
The Chamber of Petroleum Consumers, Ghana, is predicting fuel shortages across the country if government fails to find a solution within the next 24 hours to the ongoing challenges with the migration onto the new customs system (UNIPASS) from the existing GCNet platform. According to COPEC, the ongoing challenges with the migration is leading to…
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COPEC urges Gov’t to assist BOST to store more oil reserves
As concerns continue to mount over lack of storage facilities to store oil in the US, the Chamber of Petroleum Consumers, Ghana, (COPEC) is calling on government to help the Bulk Oil Storage and Transport (BOST), ‘to get a good credit line or an open credit system in place immediately to stock oil at this…
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COPEC demands compensation for LPG consumers after withdrawal of ‘illegal’ levy
The Chamber of Petroleum Consumers, COPEC, says it will engage the National Petroleum Authority, NPA, on how consumers who were charged the 13.5 pesewas Liquefied Petroleum Gas (LPG) circulation levy will be compensated. The Minister for Energy, John Peter Amewu, last week announced that the NPA has been directed to stop charging the LPG re-circulation…
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‘Illegal’ LPG levy still charged despite supposed withdrawal – COPEC
Despite the assurance given by government that the controversial 13.5 pesewas cylinder recirculation levy has been withdrawn from the price of Liquefied petroleum gas, LPG, the Chamber of Petroleum Consumers, COPEC, insists the levy is still being charged at gas fuel stations across the country. COPEC is already in court with the Consumer Protection Agency…
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COPEC, CPA sue NPA over new LPG levy
The Chamber of Petroleum Consumers Ghana (COPEC), and the Consumer Protection Agency (CPA), have sued the National Petroleum Authority (NPA) over the introduction of the Cylinder Recirculation Recovery Margin (CRM), which will allow LPG operators to start charging 13.5 pesewas for each kilogram of LPG. The two entities in their writ of summons contend among…
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OMCs’ justification for insignificant drop in fuel prices unfair to consumers – COPEC
The Chamber of Petroleum Consumers, COPEC, has reiterated the need for further reduction in fuel prices at the pumps. The comments follow the Chamber of Bulk Oil Distributors’ appeal to petroleum consumers to be circumspect in their demand for decreases in fuel prices at the pumps. Brent crude, which was selling for about 66 dollars…
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It’ll be disappointing if fuel prices don’t go down further – COPEC
The Chamber of Petroleum Consumers Ghana, COPEC, says it expects prices of petroleum products at the pumps to go down further after some Oil Marketing Companies reduced prices by about seven percent on Monday, March 16, 2020. Following a drop in global crude oil prices and the relative stability of the cedi for about two…
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Stop interfering in fuel price movement – OMCs tell stakeholders
The Association of Oil Marketing Companies, has advised against what it calls undue interference in the pricing decisions of its members. This follows a statement by the Chief Executive of the National Petroleum Authority, Hassan Tampuli indicating that the Authority was anticipating a 15 percent reduction in the prices of fuel at the pumps, due…
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COPEC demands reduction in fuel prices as global crude prices drop again
The Chamber of Petroleum Consumers, COPEC, wants Oil Marketing Companies (OMCs) in the country to reduce their ex-pump prices for consumers to reflect the sustained decline in the global crude oil prices. According to COPEC, consumers could be benefitting from a reduction of between 10%-32% compared to the 2% that consumers have been given over…