BDCs are ready to import fuel with European standards- Senyo Hosi
The Chief Executive Officer of the Chamber for Bulk Oil Distributors Companies (CBOD) Senyo Hosi has stated that the chamber is ready to import diesel with a sulphur level which meets the European limit of 5 or 10 parts per million (ppm). This follows a report released by the African Centre for Energy Policy (ACEP) […]
Dirty diesel kills thousands of Ghanaians yearly – ACEP
Energy policy think tank, Africa Centre for Energy Policy (ACEP) has told Citi Business News thousands of Ghanaians lose their lives every year because they inhale fumes from dirty diesel. ACEP’s Deputy Executive Director, Benjamin Boakye says ‘people are dying because we import this dirty fuel. World Bank estimates that 17, 500 people die annually […]
Local participation in petroleum industry hits $221m by June 2016
The volume of contract awarded to Ghanaians in the Petroleum and Gas Industry from January to June this year has hit 221 million dollars. The figure is an improvement on previous years which was about half under same period of review. Speaking to Citi Business News, the Minister of Petroleum, Emmanuel Armah Kofi Buah attributed […]
Develop regulations on discretionary powers in oil industry – Analyst
Energy policy analyst, Dr. Steve Manteaw is advocating that Ghana develops regulations to demand the basis and processes by which the Minister of Petroleum executes discretionary powers in the award of oil contracts. He believes the provision of the new Petroleum Exploration and Production (E&P) Bill which grants discretionary powers in some cases will undermine […]
Oil companies owe Ghana over $700,000; think-tanks worried
Nine out of 16 oil companies failed to pay a total of $721,000 in surface rentals to government last year, according to the Public Interest and Accountability Committee (PIAC) 2015 annual report. The default means a 61% drop in expected revenue from the sector. The PIAC is a citizens-led statutory body established under Section 51 […]
Parliament passes bill on oil sector regulation
Parliament on Thursday, August 4, 2016, passed the Petroleum Production and Exploration Bill. The Bill is among other things expected to regulate activities within the country’s oil and gas sector and ensure value for money. Until the passage of the E&P Bill, the country’s oil sector was regulated by the PNDC Law 84 which some […]
Petroleum workers push for legislation to address salary disparities
The General Transport, Petroleum and Chemical Workers’ Union (GTPCWU) is pushing for a legislation to compel companies in the oil and gas industry to pay local workers acceptable salaries. According to the union, some employers have consistently refused to pay acceptable salaries within the industry. This, it blamed on lack of legislation which has created […]
Govt cuts down projected oil price to $45 per barrel
Government has revised downwards its benchmark PRICE OF CRUDE OIL for 2016 from the 53.5 dollars per barrel to 45.35 dollars per barrel. This translates into 1.4 billion cedis oil revenue down from the 2 billion cedis it projected in the 2016 budget statement. The figure also means the projected oil revenue for the year […]
CBOD GIVES BACK .
Teachers and students of St Kizito R/C School at Nima were all smiles when staff of the Chamber of Bulk Oil Distributors (CBOD) presented 15 whiteboards and markers worth 4,500 cedis to the school. This social responsibility was done in collaboration with the Wise Water Foundation, a non-governmental organisation, which seeks to champion and support […]
Foreigners dominate petroleum upstream sector despite local content law
The move to get local companies to substantially participate in Ghana’s Oil and Gas industry is still under pressure as figures released by the Petroleum Commission indicate that the value of activities ceded to indigenous companies in the Petroleum Upstream sector between 2010 and 2015 was only one billion dollars. In all, total value of […]
