Tag: COPEC
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Consumers seek NPA intervention as fuel prices rise
Citi Business News has gathered that prices of fuel have gone up at some pumps effective Tuesday, January 16, 2017. This follows an earlier prediction by the Institute of Energy Security (IES) that prices will go up by between 3 and 5 percent. According to the IES, the development can be attributed to the increase…
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Industry intensifies pressure to get 15% petroleum tax scrapped
Analysts have intensified appeals for government to scrap the Special Petroleum Tax on petroleum products. They argue this will give more meaning to attempts to reduce the plight of consumers following rising global oil prices. The comments follow a recent NPA announcement of a seventy percent reduction in the price recovery and stabilization levy calculated…
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Fuel prices remain unchanged at pumps
The prices of petroleum products will remain unchanged at the pumps at least for the first two weeks in December, despite a reduction in the price stabilization and recovery levy. As a result, the Chamber of Petroleum Consumers (COPEC) is urging consumers to disregard reports of reduction in fuel prices due to the development. The…
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COPEC pushes for measures to mitigate $ 1.5bn loss to illegal fuel
The Chamber of Petroleum Consumers (COPEC) says Ghana is at a high risk of losing more revenue if it continues to ignore the fuel smuggling menace in the country. COPEC believes strongly that the government has turned a blind eye to the fuel smuggling issue which if not handled properly, will affect all consumers. “Indeed…
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COPEC demands arrest of illegal petroleum traders
The Chamber of Petroleum Consumers (COPEC) is calling on government to urgently investigate and arrest culprits involved in the illegal sale of petroleum products. COPEC believes this will ensure the immediate halt of the illegal activity and revamp the once vibrant sector. Oil Marketing Companies on Tuesday revealed that about 4,000 workers may lose their…
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More OMCs threaten layoffs over illegal trade
More workers are set to be laid off in the petroleum downstream sector as the illegal sale of petroleum products continue unabated. Already, the CEO of the Association of Oil Marketing Companies, Kwaku Agyeman-Duah has warned of some 4000 job losses in the next few months due to the development. The Association contends that profits…
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OMCs to sack 4000 workers over illegal trade
About 4,000 workers in the petroleum sector are likely to lose their jobs within the next few months if government fails to stop the illegal sale of petroleum products in the country. This is the caution from the Association of Oil Marketing Companies (AOMCs). The Association explains that the illegal trade which has been perpetrated…
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Petroleum consumers dissatisfied with NPP’s 100 days’ work
The Chamber of Petroleum Consumers (COPEC) has expressed dissatisfaction at the achievements of the Nana Akufo Addo led government, grading it below average in its first 100 days in office. Citing key issues such as the high sulphur content in fuel, as well as the unsteady fuel prices, COPEC believes government has not done much…
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OMCs yet to reduce prices as Goil’s prices drop by 1%
It appears most of the Oil Marketing Companies (OMCs) have not reduced the prices of their petroleum products for the first pricing window in March. This is contrary to predictions that fuel prices will be reduced for the period. The Institute for Energy Security (IES), early this week, indicated that prices for petroleum products are…