Tag: IES
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BOST must work to keep strategic oil reserves – IES
The Institute of Energy Security, IES, says the current state of the Bulk Oil Storage and Transportation Company, BOST, puts the country at risk in case of oil price hikes. The IES says BOST for the past three years has not been able to strategically store enough oil to cushion the country in an emergency…
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BOST must justify any increase in its margin on petroleum prices – IES
The Institute for Energy Security (IES), says managers of the country’s petroleum sector could have a stronger case to increase the BOST margin on petroleum products only if BOST accounts for its use of the revenue. It follows a withdrawal of the proposed one hundred percent increase in the BOST margin on the prices of…
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Dangote’s oil refinery not a threat to Ghana’s TOR – Analysts
Analysts in the oil and gas sector have downplayed any significant impact of a refinery by Dangote on the operations of the Tema Oil Refinery, TOR. They say the development though laudable, may not be able to meet the demand for refined products which makes it necessary for TOR to work to sustain its operations.…
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Petroleum prices likely to see marginal increase in coming days — IES
Consumers should expect a likely increase in the price of fuel at the various pumps for the first pricing window in June as the price of fuel per gallon slowly reaches GH¢24. This is according to the Institute of Energy Security (IES). The IES in a press release has indicated that the increment in the…
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Lack of bond guarantee hampering ECG takeover – IES
The Institute of Energy Security(IES) has stated that the delay in announcing the takeover of the Electricity Company of Ghana (ECG) by Power Distribution Services(PDS) is due to the latter’s refusal to provide a bond guarantee. The Millennium Development Authority (MiDA) announced in January that PDS was scheduled to take over ECG on February 1,…
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IES raises concern as PURC, ECG delay major policy decision making
The Institute of Energy Security, IES, is warning that the technical and operational challenges within the ECG may escalate if the process for the handing over to the Power Distribution Services (PDS) is delayed any further. The IES also wants the PURC to be swift in announcing the new tariffs as the delay is impacting…
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$24m revenue loss hangs over TOR’s neck – IES
The Tema Oil Refinery (TOR) is to lose about 24 million dollars in revenue due to drop in global prices of refined products. This is the assertion of the Institute of Energy Security (IES). The energy think tank attributes the development to an ineffective business model despite producing refined products. The imminent loss follows the…
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IES blames power cuts on overdependence on gas
The Institute of Energy Security (IES) wants the government to find pragmatic ways to purchase and store adequate quantities of alternative fuel for the country’s power generation plants. The IES argues that may largely help in stabilizing power generation and supply. The suggestion comes on the back of the recent erratic power supply that has…
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Fuel prices to remain unchanged in October
Fuel prices are to remain stable for the first pricing window of October [spanning October 1-15, 2018]. This is a prediction by the Institute of Energy Security (IES). The IES attributes the findings to various indicators such as the cedi’s performance and marginal increase in the price of Brent crude. Prices of fuel went up…
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Drivers lament over GH¢5 fuel prices
Some drivers have expressed their displeasure over the increase in fuel prices for the second pricing window in September. Checks by Citi Business News at some fuel pumps on Monday evening [September 17, 2018] showed that Shell had increased its prices. A litre of diesel and petrol are being sold at 5 cedis 18 pesewas…