Tag: Energy Ministry
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Intermittent power cuts will stabilize soon – Deputy Energy Minister
A Deputy Energy Minister, William Owuraku-Aidoo, says the erratic power supply being experienced in some parts of the country should stabilize soon. Speaking on the Citi Breakfast Show, Mr. Owuraku-Aidoo, said the state is “looking at just a matter of days to bring this whole problem to an end.” Some consumers have been experiencing consistent…
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ENI, Vitol win new oil block in Ghana
Eni and its partner Vitol have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana. This result allows Eni to further consolidate its presence in the Country. A statement from ENI said ENI has 70 percent stake while Vitol has 30 percent Eni will be…
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Stakeholders disappointed with low number of bids for new oil blocks
Stakeholders in the oil and gas sector have expressed their disappointment in the low number bids submitted for the 3 oil blocks put up for competitive bidding by the Government. At the close of the submission date for bidding yesterday, only 3 bids were submitted. Tullow Oil bid for block 3, ENI and Vitol jointly…
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Revised Petroleum Agreement will be beneficial to Ghana–AGM
Norwegian oil company, AGM has described a revised petroleum agreement it has with Ghana as a good deal that will enable the country benefit from exploration of oil. Parliament last week ratified the revised petroleum agreement for the South Deepwater Tano (SDWT) block which is over 3.5 kilometres below sea level. By the approval, AGM…
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Load shedding to minimize as Ghana Gas completes tie-in of gas pipelines
Ghana should increase its power production by about 450 megawatts within the coming months. This follows the completion of tie-in of gas pipelines connecting Takoradi and Tema in a bid to stabilize the production and supply of power. There have been cuts in power supply to parts of the country over the past two months…
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Energy Ministry to prosecute culprits of fronting
The Ministry of Energy has given the strongest indication that it is ready to prosecute Ghanaians who are helping foreign companies operate in parts of the petroleum sector, which are solely reserved for local companies. According to the Ministry, a comprehensive plan to deal with such individuals and companies will be announced before the end…
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Karpower deal extension: IES warns of rise in power costs (Audio)
The Institute of Energy Security (IES) is cautioning of an eventual increase in the cost of power generated from the Karpowership over the continuous payment of capacity charges. The IES believes this will also defeat the immediate claims by the government of reducing the cost of power produced from the power barge. The comments come…
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Energy Ministry rejects calls to scrap special petroleum tax
The Ministry of Energy has rejected calls by the Chamber of Petroleum Consumers Council, to scrap the special petroleum tax on petroleum products. According to the Head of Communications at the Energy Ministry, Nana Damoah, scrapping the special petroleum tax will be detrimental to governments’ ability to raise revenue to tackle the energy sector debts. The…
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Give value for money – Energy Minister charges new Audit Committee
Energy Minister, Boakye Agyarko has charged the new Audit Committee for the energy ministry to commit itself to giving value for money as it commences its work. As part of fulfillment of provisions of Section 86 of the Public Financial Management Act 2016 (Act 921), the Minister on Friday, June 2, 2017 inaugurated a five…
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Job layoffs lurk over persistent power challenges – ICU
The Industrial and Commercial Workers’ Union (ICU) has renewed caution of massive job layoffs if the power supply challenges are not resolved anytime soon. The union contends that employers would be compelled to cut down on labour size due to increased cost of operation but a drop in production levels. “If this should continue, then…