The new board of the Ghana Oil Company (GOIL) intends to increase the company’s market share from 18 per cent to about 30 per cent by 2020.
This forms part of its plans of making GOIL the major driver and the market leader in the oil marketing business in the country.
Effective July 1, 2017, the Sulphur content in petroleum products in Ghana is to be reduced from 3000 parts per million (ppm) to 50ppm in line with a new government policy, the Vice President Alhaji Dr Mahamudu Bawumia has announced.
This, according to the Vice President was to help reduce respiratory diseases triggered by fuel toxins with high Sulphur content.
Top Oil Company Limited, a wholly indigenous oil-marketing company, has opened a new fuel station at Suhum in the Eastern Region.
This brings to six the number of branches opened in the region, and 67 nationwide.
The Government has been cautioned against any hasty moves to hedge its share of crude oil exports from the Jubilee and Tweneboa-Enyera-Ntomme (TEN) fields.
The government is banking its hopes on the Tweneboa-Enyenra-Ntomme (TEN) and the Sankofa-Gye-Nyame oil fields to achieve its growth target of 6.3 per cent this year.
Kosmos Energy Ghana has expressed its commitment to play a part in ensuring that the associated gas from the oilfields yield the expected dividend of transforming the national economy.
Vice-President and Country Manager of Kosmos Energy, Mr. Joe Mensah, says aside the contribution of oil revenues to the national budget, “we believe natural gas has a lot to offer the country.”
The Tema Oil Refinery (TOR) has held its annual thanksgiving service with a charge to workers to fully support any administration appointed to take over after January 7, 2017.
Proudly, they call themselves elephant hunters. They are the geologists who scour the treacherous depths of the Arctic, or Brazil’s Atlantic pre-salt fields, or offshore west Africa, or the deep waters of the Gulf of Mexico, hoping to bag giant oil discoveries that can generate billions of dollars of cash for their firms over a span of decades.
Nigeria plans to raise 20 billion naira ($63 million) by March to help fund renewable energy projects, the first issuance of so-called green bonds in West Africa’s biggest economy.
A Deputy Finance Minister, Mrs Mona Quartey, has repeated the government’s commitment to ensure transparency in the spending of the country’s oil and gas revenue to propel the growth of the economy. It will also use the funds to fight poverty.
Oil held steady yesterday, as the world's largest producers gathered in Algeria to discuss ways to support the market, although scepticism about any deal being reached has prompted money managers to cut their bullish bets to a one-month low.
An agreement for an Onshore Natural Transmission Pipeline (NGTP) estimated to cost $500 million will be signed in Accra today.
Militant attacks on energy facilities in Nigeria's southern Niger Delta threaten to cripple the country's state oil company if allowed to go unchecked, the Nigerian National Petroleum Corporation (NNPC) has said.
Ghana in less than a decade after the discovery of oil and gas has made tremendous strides, having successfully developed two independent oil fields with plateau production of more 100,000 barrels and 80,000 barrels respectively
Stakeholders in the country’s gas sub-sector have called for the setting up of a stakeholders’ representation and a steering committee to shape best practice and development of the sector.
