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Ghana needs effective regulation to be a petroleum hub—Experts

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Some energy experts at the Ghana International Petroleum Conference (GhIPCON) are urging government to speedily develop a policy framework to back its vision of creating a petroleum hub in the country. This, they believe will ensure effective regulation of the over 50 billion dollar project. Government is seeking to develop a petroleum hub which is expected to include refineries, tank ...

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Veep urges BDCs to consolidate

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Ghana’s vision of becoming a petroleum hub may not be realized if oil service providers in the industry fail to consolidate their efforts, Vice President Dr. Mahamudu Bawumia has said. According to him, Ghana will be better positioned to compete within the sub-region if service providers like bulk oil distribution companies (BDCs) join forces. Speaking at the 2nd edition of ...

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#CitiBizFestival: GhIPCON Day 1 in pictures

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The Ghana International Petroleum Conference (GhIPCON) started yesterday at the Kempinski Gold Coast Hotel in Accra. The three day event has assembled experts in the oil and gas industry, to discuss pertinent issues in the sector. Some of the topics that were discussed include; “Realizing the vision of a Petroleum Hub”, “Finding the optimal balance between foreign direct investments and ...

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Ghana Gas struggling due to VRA’s inability to pay debt

Dr. Ben Asante, CEO of Ghana Gas

Failure of the Volta River Authority(VRA) to pay some $500 million it owes the Ghana Gas Company is said to be having a toll on the production of gas in the country. The debt which has been lingering on for some years now, accumulated as a result of the supply of lean gas for power generation by the Gas Company. ...

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#CitiBizFestival: Oil and Gas experts to meet at GhIPCON 2018

Citi Business Festival

The next outdoor event on the Citi Business Festival, the Ghana International Petroleum Conference (GhIPCON) will come off this morning at the Kempinski Gold Coast Hotel Accra. The conference will assembly experts and stakeholders in the petroleum downstream sector to discuss challenges and bring out solutions for the industry. The topics to be discussed include; “Realising the vision of a ...

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LPG consumption in 3 regions of the north still low—NPA

Hassan Tampuli - CEO, NPA

A report by the National Petroleum Authority (NPA) has revealed that all the three regions in the north consume only 4% of the total LPG produced in the country. Out of the 650 LPG retail outlets in the country, only 30 are situated in the Northern region, Upper East region and the Upper West region. According to the report, people ...

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Publish all exemptions under ESLA – Senyo Hosi to ESLA Plc

Senyo Hosi-CEO Chamber of Bulk Oil Distributors

The Chamber of Bulk Oil Distributors (CBOD) is demanding that the government makes public, all exemptions granted under the ESLA receipts for 2016 and 2017. The Chamber argues that the extent of such exemptions may serve as an avenue for tax evasion hence Ghanaians must be given the fine details of the transactions. The request comes on the back of ...

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ESLA Plc debunks CBOD report on petroleum revenue receipt

Senyo Hosi new

The company responsible for clearing the energy sector debt, ESLA Plc has debunked reports by the Chamber of Bulk Oil Distributors (CBOD) that a total of 915 million cedis was not reported by government in 2016 and 2017 petroleum revenue receipt. The chamber last week alleged in its 2017 industry report that government failed to account for 576.63 million cedis ...

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Aker Energy takes over Hess Energy’s oil bloc in Ghana

CEO of Aker Energy, Jan Arve Haugan

Aker Energy Ghana AS, a subsidiary of Aker Energy AS has completed the acquisition of Hess Ghana, the operator of the Deepwater Tano Cape Three Points block (“DWT/CTP”) with a 50 percent participating interest in the license. A statement from the company copied to Citi Business News assured that “Aker Energy will work closely with licence partners and authorities to ...

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Tullow Plc targets more oil exploration in Ghana

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The Chief Executive Officer of Tullow Oil Plc, Paul McDade has disclosed that the company will actively participate in the bidding process announced by government recently to allocate oil blocs to investors. According to him, the company will earmark about half a billion dollars to commence more oil exploration in Ghana if it wins the bids. The Energy Minister, Boakye ...

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