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Oil And Gas

GOIL reduces fuel prices below 5 cedis per litre

Managing Director of Goil Ghana, Mr. Patrick Akorli

Ghana Oil Company Ltd, GOIL,  has reduced fuel prices at all its retail outlets. For now, Super XP is selling at   4.98 cedis per liter while Diesel XP is selling for 4.98 cedis per litre. The reduction, which is in line with the drop in international Petroleum prices and relative stability of the Cedi takes effect from Sunday, December  2,  ...

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Ghana needs more investment in petroleum upstream sector—Tsatsu Tsikata

Mr. Tsikata was rewarded for contributing immensely to the growth of the Ghanaian energy sector.

A former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) Tsatsu Tsikata has called for more investment into Ghana’s upstream sector. According to him, the sector holds the potential to significantly reduce the country’s unemployment level. Since the promulgation of the Local Content and Participation Regulation LI 2204, about 12,000 Ghanaians have been employed in the country’s upstream ...

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Ghana must focus on electricity distribution efficiency—Turkey Electrical Association

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The Electrical and Electronics Exporters Association of Turkey have called on government to focus more on improving the efficiency associated with the transmission and distribution of electricity in the country. The Vice Chairman of the Association, Mehmet Kavaklioglu made the call at the ongoing Turkey-Ghana Business to Business Summit. The Turkey-Ghana Business to Business Summit, organized by the Turkish Electrical ...

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IES blames power cuts on overdependence on gas

Dumsor

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 hit parts of the country. ...

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Petroleum Commission prioritises technology use for upstream operators                                                          

Egbert Faibille Jnr - CEO, Petroleum Commission

Chief Executive Officer of the Petroleum Commission, Egbert Faibille has urged various companies operating within the petroleum sector to use technology in building the industry. This he believes will promote the upstream space and improve revenue for the sector and country as a whole. He made the remarks at an engagement with some investors in the upstream petroleum sector. Addressing ...

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ACEP cautions GOIL on Exxon Mobil deal

Benjamin Boakye - Executive Director of ACEP

The Africa Centre for Energy Policy (ACEP) has cautioned the Ghana Oil Company Limited (GOIL) to ensure that it puts in place the necessary measures to absorb any risk that may arise from its partnership with Exxon Mobil. GOIL is set to become ExxonMobil’s local partner as it begins full-scale exploration for oil in Ghana’s West Cape Three Points in ...

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Gov’t approves GOIL as partner for Exxon Mobil oil deal

Minister Energy, John Peter Amewu

Minister for Energy John Peter Amewu has announced that government has approved state owned Oil Marketing Company, GOIL as the minority partner for the Exxon Mobil deepwater offshore oil field. Mr. Amewu disclosed that government has“been notified by Exxon of their choice” and the Ministry of Energy has approved of the deal. He stated that with the approval, the Ministry ...

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Prices of fuel drop marginally

FUEL

Fuel prices have dropped marginally by a little over 1 percent at some Oil Marketing Companies (OMC’s) across the country. Citi Business News checks at the pumps this morning show that the top three OMCs, Goil, Shell and Total Ghana are selling both Petrol and Diesel at GHC 5.15 pesewas across the country. The reduction in prices comes after the ...

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TOR gets new steam boiler to ensure uninterrupted operation

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The Tema Oil Refinery has taken delivery of a new 120 ton per hour steam boiler which is expected to assist in the power generation activities of the refinery. ‘Boiler 8’ as it is referred to by authorities at TOR arrived on the premises of the refinery over the weekend. The new boiler comes on the back of the refinery ...

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Dr. Amin Adam leads Ghana’s transparency drive in extractive sector

Dr. Mohammed Amin Adam - Deputy Minister of Energy

The Minister of Finance, Ken Ofori Atta, has appointed Deputy Minister of Energy, Dr. Mohammed Amin Adam has been appointed as Ghana’s Champion for Extractive Industries Transparency Initiative (GHEITI). He is to lead the implementation of the EITI in Ghana. The appointment of Dr. Mohammed Amin Adam is in fulfillment of requirements of the Extractive Industries Transparency Initiative (EITI) standards. ...

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