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•   Senyo Hosi, Chief Executive Officer of the Ghana Chamber of Bulk Oil Distribution (CBOD)

Maiden international petroleum confab opens tomorrow

The Ghana Chamber of Bulk Oil Distributors (CBOD) will tomorrow (Friday, November 6, 2015) organise the maiden edition of the Ghana International Petroleum Conference (GhIPCON) to create a platform for industry education, policy construction, review, modification and momentum for growth and development in the petroleum industry.

According to the Chief Executive Officer of the CBOD, Mr Senyo Hosi, the event, which would be held annually, will bring together the major players in Ghana’s mid-and downstream petroleum sectors.

“We hope the event will bring to the fore issues affecting the petroleum mid- and downstream industries and also find ways of strengthening these sectors for the growth of the economy,” Mr Hosi added.

The Executive Director of ACEP, Dr Mohammed Amin Adam

Interest in oil contract disclosure intensifies

Three Civil Society Organisations (CSOs) are asking government to adopt an open and competitive bidding approach in the award of oil contracts in the country.

The current process used to award oil contracts, according to the Africa Center for Energy Policy (ACEP), the Civil Society Platform on Oil and Gas and the Third World Network (TWN), does not promote transparency and could give rise to corruption.

The Executive Director of ACEP, Dr Mohammed Amin Adam, in an interview with the Graphic Business on October 21, said “what we have currently is the administrative process, where one company applies for an oil block and it is evaluated and awarded without waiting for another company to apply.

Tullow tops Ghana Club 100 awards for 2013/2014

Tullow Ghana Limited has been adjudged winner of the 14th Ghana Club 100 (GC100) awards for 2013/2014 at a ceremony in Accra.

The petroleum and mining service giant emerged winners, having competed with other 100 limited liability firms operating in the country.

The annual event was organised by Ghana Investment Promotion Centre (GIPC) to celebrate and motivate Ghana’s leading businesses in all sectors of the economy.

The theme for this year’s celebration was “Impact Investment and Sustainable Economic Development.”

Rob Tims

Energy investment in Africa: Unleash the potential

The low price of oil has dashed initial hopes for oil and gas investment in Africa but governments have the opportunity to turn things around.

The discovery of oil off the coast of Ghana in 2007 – and subsequent hydrocarbon finds in Uganda, Kenya, Tanzania and Mozambique – sparked an exuberant international response, with oil and gas investors and companies initially flocking to what many saw as a new frontier for the industry.

The excitement was understandable. The oil and gas finds in Mozambique had the potential to increase its GDP five-fold by 2040. Ghana’s economy, too, was being transformed. Prices were booming and the ‘Africa Rising’ narrative was taking hold across the world, with rising consumption and improved political stability changing investor perceptions.

Eight years on, with the oil price halved to below USD50 a barrel, the enthusiasm of those early days looks a little optimistic.

While there have been significant successes in oil and

Ghana Oil and Gas Awards opens nominations

NOMINATIONS for this year’s Ghana Oil and Gas Awards (GOGA 2015) have opened to reward the achievements of local and international companies involved in the Ghana oil and gas sector.

The awards will bring together players in the oil and gas industry that have played a defining role in moving the industry forward.

A press release issued by Xodus Communications Limited, organisers of the annual event, said in times like these, when the oil and gas sector was faced with consistent challenges, the ability of organisations as well as the people involved in the industry to deliver the technologies, financial packages, insurance products, best practices and initiatives to succeed was crucial.

It said the Ghanaian economy had become increasingly reliant on energy to sustain growth and the awards would be dedicated to championing excellence in the industry.

Mr Joe Mensah — Ghana Country Manager, Kosmos Energy, says there is more social investment projects in the pipeline.

The changing face of CSR

The intervention by Kosmos epitomises the changing face of corporate social responsibility towards impact investing, as opposed to the traditional donations and hand-outs. This is done to ensure sustainability in resources, in view of resource scarcity that is hitting the world in recent years.

Benefits from gas resources to increase

The Minister for Petroleum, Mr Emmanuel Armah- Kofi Buah, has said the country’s benefits from gas resources are expected to scale up upon completion of its gas fields.
The Ghana Gas Infrastructure Project, which has been completed and is due for commissioning is expected to provide about 100million cubic feet of gas (mmscf) a day to power plants at the Aboadze power enclave.

GNPC  invest

GNPC invests US$6m to build human resource

The Ghana National Petroleum Corporation (GNPC), has invested US$6 million to develop the competency of human resource to work in the country’s nascent petroleum industry.

The amount was used to fund scholarships and relared expenses for 135 students to undertake continued studies in geosciences, petroleum engineering, health, safety and environment (HSE), and petro business, among other disciplines in the petroleum sector

Mr Moses Dotsey Aklorbotu of the Graphic Group

Oil & Gas Providers commend Graphic Business, reporter

The Ghana Oil and Gas Service Providers Association (GOGSPA) has commended the Graphic Communications Group Ltd and its Staff Writer, Mr Moses Dotsey Aklorbortu, for continuously winning of the Oil and Gas awards, the latest being at the just-ended 20th Ghana Journalists Association Awards 2015.

Reporters of the Graphic Group have won majority of the honours in the Oil and Gas category, mostly with stories carried in its special agenda-setting business and financial publication, the Graphic Business.

Our oil money online' platform launched

Africa Centre for Energy Policy, in collaboration with other governmental institutions has launched a platform to enhance the citizen’s ability to keep track of how the country’s oil and gas resources are managed.

GE Oil & Gas secures $850m contract

General Electric (GE) has placed an order across its oil & gas business for the supply of $850 million worth of equipment to the country’s Offshore Cape Three Points (OCTP) block being operated by Eni Ghana and its partners, Vitol and the Ghana National Petroleum Corporation (GNPC).

• Dr George Sipa-Adjah Yankey

Ghana Gas to attain maximum capacity soon

The Ghana National Gas Company (Ghana Gas) is to commence the processing of natural gas to the maximum operating capacity of the plant to sustain its processing of 150 million standard cubic feet (scf) of gas a day.

Petroleum prices ordered down 10 per cent 

The National Petroleum Authority has announced a 10% reduction in the prices of petroleum products effective 1st January 2015. 

Old rigs beg for decommissioning

After the euphoria and funfair that greeted the discovery of oil, a major issue that needs attention is decommissioning. Once machinery and equipment were mobilised at the commissioning of the production, they have to be decommissioned after oil.

Kwaku Kwarteng, MP for Obuasi West

Obuasi West MP outraged by Vivo Energy’s non-compliance with regulatory requirements

The Member of Parliament for Obuasi West, Mr Kwaku Kwarteng has filed an urgent question in Parliament asking the Minister for Energy & Petroleum to appear before the house and explain why Vivo Energy (formally Shell Petroleum Ghana) continues to operate in Ghana without complying with regulatory requirements.

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