IF the coming on-stream of Atuabo gas, which President Mahama called “the game-changer”, was meant to assure Ghanaians of improved power supply, it has done the opposite; and sector managers now say it was not meant to increase generation.
Category: Oil & Gas
The Oil Price Crush And Oil Frontiers: The Stakes And The Escape Strategy For Ghana
THE black gold is under severe pressure which has been blamed on several factors including increasing US domestic oil production, increasing shale production, Saudi’s strategy to maintain its market share, and low demand for oil in the Euro Zone and Asia. Oil prices have crushed as a result, reported at a five year low of […]
‘Nigeria May Be Losing $24.17 Billion Monthly To Falling Oil Prices’
NIGERIA may lose an about $24.17 billion (N4 trillion) within the next one year if crude oil prices fail to rebound.
Moody’s Lowers Price Expectations For Benchmark Crude Oils
THE steep drop in oil prices since the middle of this year has led Moody’s Investors Service to lower its pricing assumptions for the two benchmark crude oils, European Brent and West Texas Intermediate (WTI), by $10 in 2015 and $5 in 2016, the rating agency said today.
Ghana: Italian Firm Gets Green Light To Develop Gas Project
GHANA’S government has given Italian energy firm Eni the final green light to develop gas resources in the Offshore Cape Three Points block. The company is expected to begin production in 2017, it said on Monday.
$700 Million GNPC Loan Facility In Danger
THREE opposition Members of Parliament (MPs) are lacing their boots to sue the Ghana National Petroleum Corporation (GNPC) for bypassing Parliament in securing a 700 million dollar loan facility from German bank, Deutsche Bank.
Energy Think-Tank Welcomes GNPC-GNGC Merger
ENERGY think-tank, the African Centre for Energy Policy (ACEP) has welcomed the announcement of the takeover of the Ghana National Gas Company by the Ghana National Petroleum Corporation (GNPC).
Ghana Receives $780.07 Million From Oil Cash
GHANA has received a total of US$780.07 million (GHȻ2,139.12 million) in revenues from oil receipts at the third quarter of this year, the Minister of Finance, Set Terkper has announced.
Fuel Prices: NPA Accused Of Milking The People
THE drastic reduction of crude oil from $115 per barrel to about $80 on the world market has compelled the opposition New Patriotic Party (NPP) to urge the government to reduce fuel prices accordingly.
Ghana: Oil And Gold Exports Decline
GHANA’S companies sold fewer products overseas for the period January to September,2014 but the trade deficit narrowed because of a big decline in gold and crude oil imports.