Fuel prices to drop by 2% in first pricing window in July
Prices of fuel are likely to see further drop in the first pricing window of July by about 2%. This is according to the Institute of Energy Security (IES). The Institute believes indicators such as the relative appreciation of the cedi against the dollar and the general reduction in the global price of crude oil […]
Contaminated oil cartel is ‘security threat’; OMCs call for gov’t action
Chief Executive of the Association of Oil Marketing Companies (OMCs), Kwaku Agyeman-Duah, has said Ghana’s security is at risk if a cartel of illegal fuel operators continues building wealth. There have long been allegations that some influential business and political moguls are part of a cartel that smuggles oil to neighbouring landlocked countries by redirecting […]
Contaminated fuel saga: Senyo Hosi contemplates legal action against MP over bribery claim
Chief Executive of the Bulk Oil Distribution Companies (BDCs), Senyo Hosi, has threatened to sue Assin Central Legislator, Kennedy Agyapong, over allegations of bribery against him. Mr Agyapong alleged on Twi speaking radio station, Oman FM that Mr Hosi attempted to bribe the Managing Director of the Bulk Oil Storage and Transportation Company (BOST) with […]
Exposed: 38 ‘unlicensed’ firms bought contaminated fuel in 2015, 2016
Citi News has laid hands on a document naming at least Thirty Eight (38) companies without a National Petroleum Authority (NPA), license, yet the Bulk Oil Storage and Transportation (BOST), sold Twenty Million, Five Hundred and Ninety Thousand (20, 590,000) litres of contaminated fuel to them in 2015 and 2016 respectively. This means the illegality […]
BOST oil saga: Movenpinaa, Zup Oil ‘not licensed’; NPA to take legal action
The National Petroleum Authority (NPA) has disclosed that the two companies that acquired contaminated oil from the Bulk Oil Storage and Transportation (BOST) were not licensed to operate in the oil and gas sector. “Movenpinaa Energy and Zup Oil are not licensed to undertake any commercial activity in the downstream petroleum industry. Their activities therefore […]
BOST oil contamination: Our company is not owned by BOST boss- ZupOil
Zupoil, the company which acquired over 2 million litres of contaminated oil, says it has no links whatsoever with the Bulk Oil Storage and Transportation (BOST) Managing Director, Alfred Obeng. Operations Manager of ZupOil, Roland Ayipa told Evans Mensah on Joy FM’s Top Story, Zupoil is not owned in any shape or form by Mr […]
Gov’t to set up c’ttee to probe BOST contaminated fuel sale
The Energy Ministry will be setting up an eight-member investigative committee to look into the Bulk Oil Storage and Transportation (BOST) company’s controversial sale of 5 million litres of contaminated fuel. The committee has been mandated to determine the circumstances that led to the contamination of the fuel and review the transaction, among others. The […]
Chase Petroleum to build Court, library for Kpone
Chase Logistics, as part of its corporate social responsibility initiatives, has cut sod for the construction of a magistrate court facility; and a modern library for the Kpone area in the Greater Accra Region. The project, which is estimated to cost an hundred thousand Ghana cedis, is scheduled to last for six months from the […]
Fuel prices to go up by 4% in June- IES
The Institute of Energy Security (IES) is predicting a 4% increase in fuel prices for the first pricing window in June. Principal Research Analyst at the Institute, Richmond Rockson attributed the development to the depreciation of the cedi by 1.18%, as well as increase in prices of gas oil and gasoline. “When you look at […]
Declining oil prices will least affect Ghana – Economist
Some Economists have ruled out any significant impact on Ghana’s economy following the declining global oil prices. The decision by Oil Producing and Export Countries (OPEC) including Russia to cut down production due to increased supplies has resulted in a drop in prices. Contrary to the expectations of many investors in the oil and gas […]
