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.
Ghana's Energy Sector, Oil and Gas News
The writer randomly selected three countries whose economic activities are strongly influenced by crude oil production and revenues; and briefly assessed their current economic development trends.
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.
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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.
Oil prices were on track to a weekly loss as potentially higher Iraqi crude exports and bearish U.S. inventory data weighed on the market.
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.
UK-based Tullow Oil has now stabilised oil and gas production from its Jubilee floating production ship (FPSO) offshore Ghana, following a month-long shutdown in April, it said June 30.
The Tema Oil Refinery (TOR) has held a thanksgiving service to express their appreciation to God for the company's resurgence.
![A very prolonged period of low oil prices could damage global growth [File: Sergei Karpukhin/Reuters]](https://www.graphic.com.gh/images/joomlart/article/b6fe01f5a9b93865a031a5eecef33fef.jpg)
Oil prices have steeply dropped towards $40 after a deal to freeze oil output by the world's biggest oil producers fell apart.
Glory Oil Company Limited, a 100% Ghanaian owned entity, started from a table top Kerosene outlet, and now has a network of approx. 60 fuel stations, and still growing.
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.
As part of the government’s effort to ensure that the oil and gas sector contributes towards the transformational agenda being pursued by President John Dramani Mahama, major oil and gas projects are still being pursued in Ghana, despite the downturn of crude oil prices worldwide.
This was made known by the Petroleum Minister, Mr Emmanuel Armah-Kofi Buah, following the arrival of the FPSO Prof. John Evans Atta Mills (FPSO Atta Mills) on the shores of Ghana on March 2, 2016.
The new Board of the Ghana National Gas Company (Ghana Gas) has assured management and staff of the company that it would put in place policies and programmes to improve the company’s fiscal position.
Oil firms have put major projects in West Africa on hold because of low prices - as they have across the globe - but when the market finally picks up, development is likely to recover much more slowly in the region than elsewhere.
High costs bedevil the region, which includes established producers such as Nigeria and newer entrants like Ghana. Add to this long-standing problems of poor infrastructure, complex bureaucracy and politics, and West Africa may be well down the list for any investment revival.
Kosmos Energy, one of Ghana’s Jubilee field operators, has said it will not cut down its investments in the country’s oil sector, in spite of the falling crude oil prices on the world market.
The company will rather ensure that all capital expenditure and investments are evaluated effectively to minimise the impact of the falling prices on their operations would be minimal.
The Vice President (VP) and Country Manager of Kosmos Energy Ghana, Mr Joe Mensah, said this in Accra during an interaction with the media.
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