Seven months since crude oil prices began to tumble on the international market, no concrete step has been taken by the government to mitigate the risks of the falling prices on the Ghanaian economy.
Category: Energy
650 Megawatts Needed To Solve Power Crisis
Broken down power plants are holding down the ability of Ghana Gas company to supply 650megawatts worth of power; enough to kill off a debilitating power crisis.
Ghanaian Companies Grab $600M Oil Contracts
The Ghana government announced that from 2008 to 2014, about $600 million worth of oil contracts have been awarded to Ghanaian companies, as the country marks the first anniversary of the Local Content law.
Labour Union: More Oil workers To Be Laid Off
The General Transport, Petroleum and Chemical Workers’ Union (GTPCWU) has warned that hundreds of Ghanaians working in the oil industry will be sacked in the coming weeks following the drop in the price of oil on the world market.
IEA Calls For Speedy Passage Of Key Oil Laws
A Visiting Fellow of the Institute of Economic Affairs, Prof John Asafu-Adjaye has called for the speedy passage of key bills to enhance the level of transparency and accountability in the management of Ghana’s oil and gas resources.
Ghana Blows $2 Million On Luxury Cars
Ghana’s Ministry of Energy and Petroleum (MoEP) spent $1,745, 159 (GHS5,584,508 at current exchange rate) on 38 luxury vehicles when there was no budgetary provision for the purchases.
Actis Announces $1.9Bn Pan-African Renewable Energy Platform
Actis, a global pan-emerging market private equity firm, today announced the launch of a pan-African renewable energy generation platform, Lekela Power.
Ghana Contracts Dubai Power Company
Following erratic power supply, government has clinched a deal with a Dubai based company APR to bring in emergency power generators. The deal was said to have been closed last week in Dubai. Sources say the 10 emergency power generators which is expected to come in April, will have the combined capacity to produce 250 […]
Oil Exporters Suffer Biggest Economic Shortfall
Economic developments for commodity exporters after a fall in prices vary significantly depending on the type of commodity, with oil exporters suffering the biggest shortfall in activity, according to research by US based Moody’s Investors Service.
Don’t Blame DumsϽ …If You Can’t Manage Your Business –Barton Odro
Most businesses in Ghana have turned their shops, offices and production centres into sleeping places due to the ongoing power crisis, which has crippled the Ghanaian economy.