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Oil And Gas

No renewal of license for fronting companies – Petroleum Commission

Egbert Faibille

 The Petroleum Commission of Ghana has cautioned all businesses that engage in fronting to desist from the practice or face the law. The Commission has stated that it will not renew the license of any Joint Venture which fails to fully disclose the identities of its shareholders. The CEO of the Petroleum Commission, Egbert Faibille Junior believes the clamp down ...

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ACEP demands basis for direct negotiations for oil blocks

Benjamin Boakye - Executive Director of ACEP

The African Centre for Energy Policy (ACEP) is demanding answers over the existence of direct negotiations in the allocation of oil blocks. In ACEP’s view, this contravenes aspects of the law which states that a petroleum agreement shall only be entered into after an open, transparent and competitive tender process. The energy think tank says the government must be clear ...

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Gov’t attracts locals with competitive allocation of oil blocks

Amewu competition

The government is anticipating active local participation in oil exploration henceforth. This follows the launch of the country’s first licensing rounds bids evaluation for oil blocks. The exercise is to allow interested investors to own and operate six of the nine available oil blocks. The six oil blocks available for exploration are all located within the Western region. The coming ...

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President launches competitive oil block bidding today

President Akufo Addo 620x330

President Akufo-Addo is expected to launch the country’s maiden Oil and Gas Licensing Round next Monday [October 15, 2018]. The purpose of the licensing round is to encourage transparency in petroleum agreements while employing competent and capable companies. The decision is also to enhance cost effectiveness and undertake oil exploration in a sustainable and mutually beneficial manner. Nine oil blocks ...

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President to launch oil block bidding on Oct 15

nigeria_oil_3_cnbc_africa

President Akufo-Addo is expected to launch the country’s maiden Oil and Gas Licensing Round next Monday [October 15, 2018]. The purpose of the licensing round is to encourage transparency in petroleum agreements while employing competent and capable companies. The decision is also to enhance cost effectiveness and undertake oil exploration in a sustainable and mutually beneficial manner. Nine oil blocks ...

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Oil prices drop after IMF’s review of global economic growth

oil new

Oil prices fell on Tuesday [October 10, 2018] following the IMF’s downward review of the global economic growth forecasts. Reuters however reports that markets were supported as Hurricane Michael closed nearly 40 percent of U.S. Gulf of Mexico oil output and U.S. sanctions restricted Iranian exports. The Fund reduced the global economic growth from 3.9 to 3.7 percent. The IMF ...

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Petroleum C’ssion partners Glasgow to boost oil sector

Glasgow

The Petroleum Commission has secured a partnership with Glasgow Caledonian University (GCU) to deliver work-based education to the oil and gas industry in Ghana. The agreement, which was signed on Monday, October 2, 2018 with GCU, will provide educational support and help in strategically positioning Ghana’s oil and gas industry. The Commission and the GCU will therefore co-operate across the ...

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Eni commits to SDGs with Ghana operations

ENI

President Akufo-Addo has met with and the CEO of Eni, Claudio Descalzi to discuss Eni’s operational activities in Ghana. The meeting also looked at the frontrunner role Ghana can play in the partnership Eni recently signed with UNDP. The partnership seeks to combine efforts on the development of renewable energy, energy efficiency, forestry and clean cooking initiatives, starting in Africa. The ...

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Fuel prices to remain unchanged in October

FUEL-STATION

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 in the last pricing window ...

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Fuel transport: ACEP proposes utilization of pipelines

Benjamin Boakye - Executive Director of ACEP

The African Centre for Energy Policy (ACEP) wants the mandate of the Bulk Oil Storage and Transportation Company, BOST to be reviewed to deepen its storage capacity. ACEP explains that this should help in finding a lasting solution to the intermittent challenges associated with fuel transportation in Ghana. The comment also follows the sit down strike by the petrol tanker ...

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