Tag: GNPC
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Ghana’s oil revenue rises by 67% in first half of 2017 – BoG
Latest figures have shown that revenue from Ghana’s oil production increased by 67 percent for the first half of 2017 compared to the same period in 2016. The semi-annual report on the Petroleum Holding Fund and Ghana’s Petroleum Funds shows that Ghana realized 191.32 million dollars in revenue in the first half of this year…
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Procurement delays impeding new oil explorations – GNPC CEO
The Ghana National Petroleum Corporation, GNPC, has appealed to President Akufo Addo to intervene and grant the necessary approval in the proposed oil exploration activities in the Voltaian basin. The CEO of GNPC, Dr. Kofi Koduah Sarpong explains that Ghana may miss out on potential increase in oil revenue due to increased exploration activities should…
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GNPC begins processes to relocate to Takoradi
The Ghana National Petroleum Corporation, GNPC, has disclosed it has commenced processes to relocate the company’s operations to Takoradi in the Western region. According to the CEO of the GNPC, Dr. Kofi Koduah Sarpong, the outfit is embarking on this action to bring the development associated with the oil find and its operations, closer to…
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Hedge Ghana’s oil to protect economy from shocks – PIAC
The Public Interest and Accountability Committee (PIAC) has impressed on the Bank of Ghana and Finance Ministry to target hedging Ghana’s oil reserves to protect the economy from massive revenue losses due to declining global oil prices. In its 2016 Annual report, PIAC warned of extreme financial losses in the near future following the over…
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PIAC demands swift clearance of $ 2.4bn energy sector debts
The Public Interest and Accountability Committee (PIAC) has warned that the troubles confronting Ghana’s energy sector may deepen soon if the huge debts in the sector are not settled. PIAC argues that the debt owed particularly by the Volta River Authority (VRA), greatly affected operations for 2016 considering the declining global oil prices. In the…
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Freddie Blay chairs GNPC Board
President Akufo Addo has appointed Mr. Freddie Blay as Board Chairman for the Ghana National Petroleum Corporation (GNPC). He is to head the seven member board which includes the Managing Director of GNPC, Dr. K. K. Sarpong. Other members on the board of the GNPC are Prof. J.S Nabila, Mr. Kwabena Kwakye and Mr. Yaw…
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Ghana names 3rd FPSO after J.A. Kufuor
Ghana’s third Floating Production Storage and Offshore (FPSO) vessel has been named after Former President, John Agyekum Kufuor. A statement from the Former President’s office on Wednesday said the Former President has left to Singapore for the naming of the third FPSO in his honour. The vessel will be operating in the Offshore Cape Three Points…