Oil hits $40, raises govt hopes
Government could profit from oil rebound by the third quarter of this year following the commodity price hitting over $40 as at Tuesday March 7, 2016. Ghana Government’s budget has been battered severely by low oil prices from mid last year till date. But the anticipated rebound of oil prices could bring smiles back to […]
Banks too exposed to BDCs – Frank Adu
The Managing Director of CAL Bank, Frank Adu Jnr., has said that banks will continue to face difficult times for at least the next couple of years as a result of their exposure to the Bulk Oil Distributing Companies (BDCs). “The BDCs have a challenge in that they owe the banks so much money, and […]
Tullow suspends crude oil lifting
The deterioration in the condition of the turret bearing on the Floating Storage and Offloading vessel (FPSO) Kwame Nkrumah has forced Tullow Oil to defer two liftings totalling over 1.6 million barrels of crude oil. Two vessels had arrived last week to lift crude oil, only to be told on Thursday that off-take has been […]
‘OMCs must consolidate’
Consolidation among the over 130 Oil Marketing Companies could be Ghana’s sure bet to improving standards in the downstream sector of the petroleum industry, Christophe Zyde, Puma Energy’s Chief Operating Officer for Africa has said. “If the rules for being allowed to do something are so low you create hazardous situations, that’s where you might […]
