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Oil And Gas

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

WhatsApp Image 2018-10-28 at 6.34.33 PM

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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NPA stops over 90% of fuel diversions

Hassan Tampuli - CEO, NPA

The National Petroleum Authority (NPA) has disclosed that it has curbed over ninety percent of illegal diversion of fuel over the past one year. As a result, petroleum product exports to neighbouring countries have reduced from 30 to two million litres between August last year and the same period this year [2018]. The CEO of the National Petroleum Authority, Hassan ...

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ExxonMobil deal: Gov’t likely to extend timeline for local partner

ExxonMobil-Nigeria-headquarters

ExxonMobil may get an extension of the timeline to select a local partner for its operations in Ghana. Citi Business News understands this may be the option since the government is keen on getting the company to operate in the country’s oil sector. Deputy Energy Minister, Dr. Mohammed Amin Adam disclosed this in an interview on the progress of work ...

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Karpowership wins best Independent Power Plant of the Year

Karpower 1

Karpowership Ghana Company Limited has been adjudged the Best Independent Power Plant service for the year 2017 at the Ghana Business Quality Awards held in Accra last weekend. The award seeks to appreciate Karpowership for its service quality, competitiveness and service innovation in Ghana. The award ceremony was under the theme Building Ghana beyond Aide: ‘The Role of the Private ...

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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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