Oil rises on new output freeze calls, but traders bet on further falls
Oil prices rose on Monday, lifted by reports of renewed talks by some members of the Organization of the Petroleum Exporting Countries (OPEC) to restrain output. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $41.99 per barrel at 0643 GMT (2:43 a.m. ET), up 19 cents, or 0.5 percent, from their last close. […]
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 […]
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 […]
