Tag: IES
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Anamua Sakyi writes: To spend the Ghana Heritage Fund now, or not to; multiple thoughts
In politics, academia and social circles, the debate on the utilization of the Ghana Heritage Fund (GHF) now have taking center stage over the past few years. The debate is often stoked by governments’ decision to amend the law to allow for the usage of the fund, other than what was originally intended. It first…
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Don’t touch Heritage Fund; you’ll burden future generations – IES cautions gov’t
The Institute for Energy Security, IES, says attempts by government to fall on the Ghana Heritage Fund to fight the spread of the Coronavirus pandemic cannot be justified. The Institute says the utilization of Fund deliberately set aside for future use, will leave future generations with a burden too huge to carry. The Finance Minister,…
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Anamua Sakyi writes: The oil market must brace for another price plunge, if…..
The oil and gas industry appeared to have weathered the storm of the 2015 price collapse and had responded with considerable accomplishments. By November 2017, domestic crude oil production reached its highest level in U.S. history. International trade in crude oil and petroleum products was booming with exports of 6.6 million and imports of 10.3…
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Fuel prices to drop again in April pricing window – IES predicts
The Institute of Energy Security (IES), is predicting a further drop in the prices of fuel on the local market between 16 and 24 percent in the first pricing-window for the month of April 2020. This, the Institute attributes to the significant fall in the prices of Brent crude, gasoline and gasoil on the world…
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Anamua Sakyi writes: Low prices induces cut-backs within the oil and gas sector
Brent crude is now trading below the US$30 per barrel mark compared to US$68.60 trading price recorded on January 03, on fears the deadly Covid-19 will push the world into recession with an oversupply of the commodity. Oil prices fell heavily at the open in Asia on Monday 23, 2020 after a trillion-dollar Senate proposal…
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Anamua Sakyi writes: Analyzing the impact of low oil price on Ghana’s oil production growth
Oil as a lucrative commodity, has empowered many countries that produce it for export, in terms of improving the lives of the populace and increasing their political power among other nations (Abubakar et al. 2016; Akakpo, 2015). A 2007 report by the United Nations Conference on Trade and Development (UNCTAD), suggest that extractive activities (including…
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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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IES predicts 5 to 8% drop in fuel prices from today
The Institute of Energy Security (IES), has predicted about 5 to 8 percent drop in the prices of fuel at the pumps from Monday, March 16, 2020. It follows the drop in global crude oil prices as well as the relative stability of the cedi, which are two of the major determinants for the prices…
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Anamua Sakyi writes: Absolutely nothing wrong with ‘Take-or-Pay’ power purchase agreements
In recent times, there has been a strong debate on factors necessitating Ghana’s rising energy sector debt. One of such factors as mentioned, is the “take-or-Pay” (ToP) clause in the Power Purchase Agreements (PPAs) between the Government of Ghana (GoG) and Independent Power Producers (IPPs). GoG as the buyer of the power produced by the…
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IES charges NPA to encourage OMCs to reduce fuel prices
The Institute for Energy Security (IES), has called on government through the National Petroleum Authority (NPA), to bring pressure to bear on Oil Marketing Companies (OMCs), to reduce prices of fuel at the pumps to reflect the trend on the international market and the relative stability of the Cedi against the US Dollar. Even though…