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Oil And Gas

Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’


The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The committee chaired by the CEO ...

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PIAC probes GNPC over Takoradi assets & revenue losses


The Ghana National Petroleum Corporation (GNPC) has the next seven days to explain to the Public Interest and Accountability Committee (PIAC), circumstances surrounding the Corporation’s acquisition of properties in the Western region. The move has been viewed by some as a conflict of interest which flouts administrative rules. The Chairman of PIAC, Dr. Steve Manteaw explained to Citi Business News ...

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‘Gov’t must probe $9.8m oil revenue loss’ – Steve Manteaw


The Chairman of the Public Interest and Accountability Committee (PIAC), Steve Manteaw has asked the government to investigate circumstances under which the country lost some $9.83 million as a result of underpricing of some oil products by the Ghana National Petroleum Corporation (GNPC). Mr. Manteaw believes a “mere directive” by the Finance Minister, Ken Ofori Atta for the GNPC to ...

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Ofori-Atta questions GNPC boss over $9.8m oil revenue loss

kk sarpong

The Minister for Finance, Ken Ofori-Atta, has asked the Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr. K.K Sarpong to explain circumstances that led to the country losing $9.83 million in oil revenue, as a result of under-pricing of oil products by the Corporation. The Minister is demanding that the GNPC answers for why it sold crude ...

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$350m China LNG deal to boost oil and gas sector


The Executive Director of the Kumasi Institute of Technology, Energy and Environment (KITE) Ghana, Ishmael Agyekumhene has described the 350 million dollar Liquefied Natural Gas (LNG) terminal deal with China as a good agreement that will boost Ghana’s oil and gas industry. Mr. Agyekumhene is optimistic the deal will ultimately secure the supply of fuel to grow the energy sector. ...

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ENI secures oil fields with Italian vessel


One of the major oil producing fields, ENI, has undertaken processes to fortify its operations in the oil and gas sector. It follows the arrival of Italian ship;Luigi de la Penn in Ghana on Thursday, August 30th 2018. The presence of the ship here in Ghana will not only see increased trade relations between Ghana and Italy but also more ...

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ESLA bond raises GH¢5.66 billion


Managers of ESLA PLC has announced that they have been able to raise about 265 million cedis as part of the energy bond to save the energy sector. This was carried out under the ten year auction bid of the bond; which spans from 2017 to 2027. According to the managers of ESLA PLC, the re-tapping took place on Wednesday, ...

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Fuel prices to remain stable in September


Prices of fuel are expected to remain relatively stable for the first pricing window in September. This means that for the first two weeks of September, consumers should be paying almost the same amount for fuel they purchase. The Institute of Energy Security (IES) who predicted this tells Citi Business News the stability could be attributed to the slight reduction in prices ...

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Petroleum Commission, 40 companies participate in ONS 2018[photos]

WhatsApp Image 2018-08-27 at 12.39.04 PM (2)

The Petroleum Commission is currently leading 4o companies to participate in the Offshore North Sea Conference in Stavanger Norway. The companies are made up of firms in the petroleum upstream sector. The delegation is made of the acting CEO of the Petroleum Commission, Egbert Faibille, and Deputy Minister for Energy, Joseph Cudjoe. – By: Lawrence Segbefia/ Norway

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Norwegian Petroleum Directorate lauds Ghana’s petroleum policies

crop use

The Norwegian Petroleum Directorate (NPD) has lauded key stakeholders in Ghana’s oil and gas sector for formulating policies aimed at enhancing efficiency in the upstream sector. According to the directorate, Ghana has so far achieved substantial gains from the passage and implementation of relevant laws in the oil and gas industry. “Now that all the regulations have been passed this ...

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