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.
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.
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
The Ghana Petroleum Commission has granted a permit to Pressure Tech Engineering Limited, a Ghanaian petroleum engineering company, to undertake upstream petroleum services of lifting inspection, calibration as well as equipment and material supply services.
The Ghana Chamber of Mines, an association of mining companies operating in the country has brought stakeholders up to speed on the current state of the industry.
The information sharing was done at this year's Mining for Development Forum, which was aimed at providing more information on the mining cost metrics to the stakeholders.
Chief Executive Officer of the Chamber, Sulemanu Koney, addressing the 2016 Mining for Development Forum (MDF), said the Chamber decided to organize the event with the intention of clarifying these metrics which are cash costs, total cash costs, and the currently popular all-in sustaining costs, laying out what they all actually mean in practice”.
The Petroleum Bill currently being rushed through Parliament is one of the worst things that could happen to Ghana at this point in time. Unless Parliament takes very drastic steps now to stall the passage of the bill, Ghana would lose a historic opportunity to end the predatory and practically terroristic attacks on our policy space; stop the pillage of our natural resources; stabilise our macro-economy once and for all; and realise the benefits of real, genuine and productive livelihoods, good healthcare, happy and secure families and boundless opportunities for all.
These days, the most watched part of cars in Ghana is the fuel gauge. The reason is not farfetched. The recent 27 per cent increase in petroleum prices has compelled every car owner to try and save money on fuel.
Tullow Ghana, lead operator of Ghana’s Jubilee Field has downplayed any effect the deferment of two crude oil liftings will have on its production guidance for 2016.
This is because the company was putting in new operating procedures to resume lifting after a two-week planned maintenance.
A source at Tullow told the GRAPHIC BUSINESS, the company was not able to lift crude oil from the Jubilee Fields due to the deteriorating condition of the turret bearing on the Floating, Production, Storage and Offloading (FPSO) vessel, Kwame Nkrumah, but that notwithstanding, lifting would resume after the planned maintenance.