Tag: IES
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Cede majority stake in TOR to private investors to ensure its success – IES
Government has been urged to cede majority of its stake in the Tema Oil Refinery (TOR) to private investors, to ensure it attracts the needed investment to succeed. This advice was given by the Institute for Energy Security (IES). The proposal comes on the back of the recent appointment of Ghana’s former Ambassador to China,…
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Fuel prices may rise marginally in first pricing window of June – IES
Consumers of petroleum products might be paying slightly higher prices for the fuel they purchase at the country’s various pumps as we enter the month of June. According to an analysis by the Institute of Energy Security (IES), the increase can be attributed to the 3.50% rise in price of Brent crude, together with the…
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IES urges government to act on its ENI/Springfield unitisation directive
The Institute for Energy Security (IES) has charged government to take immediate steps to actualize its directive to Eni Ghana Exploration and Production Limited and Springfield Exploration and Production Limited to unitize the Afina discovery and the Sankofa field. According to the Institute, urgent action is required from government given that time is of essence…
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Ghana likely to lose if ENI/Springfield impasse ends up in court – IES
Ghana could be the overall loser if the ongoing impasse between ENI Ghana Exploration and Production Limited, and Springfield Exploration and Production Limited, which has led to a delay in the unitization of their Afina and Sankofa oil fields, end up in the International Court of Arbitration. That’s according to the Executive Director of the…
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IES MarketScan: A year on, why hasn’t ENI and Springfield unitized as directed
In April 2020, the then Energy Minister John Peter Amewu wrote to the subsidiary of the Italian oil major Eni Ghana Exploration and Production Limited (ENI), and Springfield Exploration and Production Limited (Springfield) a subsidiary of Springfield Group, directing them to execute a Unitization and Unit Operating Agreement (UUOA). The purpose of executing the UUOA…
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Government urged to set up renewable energy authority
A fellow of the Institute of Energy Security (IES) and former Ranking Member on the Mines and Energy Committee in Parliament, Adam Mutawakilu, has reiterated the need for government to make renewable energy a critical component of Ghana’s power mix and create an enabling environment for the private sector to enter the industry. Government has…
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![Ghana must develop national hydrogen policy and roadmap [Article]](https://citibusinessnews.com/wp-content/uploads/2020/12/IES.jpg)
Ghana must develop national hydrogen policy and roadmap [Article]
The world is moving into a “Hydrogen economy” led by developed economies, and the pace looks quite fast. In most advanced countries that are looking for ways to recover from the economic damages wrecked by COVID-19, they are setting mid-to-long-term plans with more detailed targets that include hydrogen in several of their economy rebooting policy…
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Gas sub-sector becoming a fiscal burden to the country – IES study
The Institute for Energy Security’s (IES’) study of the petroleum industry reveals that the natural gas sub-sector is rapidly becoming a fiscal burden to the country due poor energy strategies, and delays in building the necessary and relevant infrastructure to off-take the processed domestic gas. Government’s poor handling of the gas sub-sector is greatly contributing…
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$134 million GCGP judgement debt has damaged Ghana’s reputation – IES
The Institute for Energy Security (IES) has bemoaned the impact of a judgement debt that has been slapped on the government by the International Court of Arbitration. Ghana has been hit with a US$134 million judgement debt over the cancellation of its Emergency Power Agreement with GCGP Limited. The contract, signed in 2015, was among…
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Cedi depreciation and taxes quadruple domestic fuel prices in the last decade – IES
Over the past decade (2010-2019), Ghana has seen a 347 percent increase in price of Gasoline (Petrol) and a 338 percent increase in Gasoil (Diesel) price at the pump, largely because of Cedi depreciation, taxes and levies. Analysis of data from the Energy Commission (EC), National Petroleum Authority (NPA) and IES’ MarketScan show that by…