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The Chamber of Bulk Oil Distributors (CBOD), in collaboration with the Tema Command of the Ghana National Fire Service, has organized an emergency fire response training program for members of the chamber. Forty representatives from member company depots participated in the intensive training session. The purpose of the training program was to equip depot staff with the requisite skills to effectively respond to emergency fire outbreaks. This initiative underscores CBOD's commitment to prioritizing safety and security in downstream sector depots....
Read moreThe Ghana Chamber of Bulk Oil Distributors (CBOD) has hosted this year's media soiree, inviting representatives from various media houses across the country. The cocktail event aimed to establish a strong and collaborative relationship between the Chamber and the media, focused on ensuring accurate and timely information reaches Ghanaians. Dr. Patrick Ofori, CEO of CBOD, emphasised the critical role the media plays in disseminating information. "It's paramount that Ghanaians receive the right information on time," he stressed. He highlighted the...
Read moreThe Ghana Chamber of Bulk Oil Distributors (CBOD) has asked the Government to enhance measures to stabilise the cedi to ensure reduced fuel prices for Ghanaians. According to the Chamber, a strong cedi is critical to affordable petrol and diesel prices, which would also support business growth and cushion the public from the associated hikes in prices of goods and services. Dr Patrick Ofori, Chief Executive Officer (CEO), CBOD, said that among the two key variables that affected ex-pump prices...
Read moreThe Ghana Chamber of Bulk Oil Distributors (CBOD) has called on government to create an enabling environment that would ensure bulk distribution companies compete fairly in the gold for oil (G4O) programme. According to Chamber, the Bank of Ghana (BoG) underwriting the risks associated with commercial activities of the Bulk Oil Storage and Transportation company (BOST), gives the government sole shareholder private limited liability company, an upper hand over other players in the field. In a virtual press briefing on...
Read moreThe Liquefied Petroleum Gas Marketers Association has renewed calls for the taxes on LPG to be scrapped. The taxes on LPG constitute about 13% percent of the pricing. Though the price of LPG has gone down by about 7%, the association believes the removal of taxes will reduce the cost of LPG drastically and increase the consumption of the commodity. Speaking to Joy Business, Vice President of the LPG Marketers Association, Gabriel Kumi, said the government must prioritise the call...
Read moreThe Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, has been elected President of the African Refiners and Distributors Association (ARDA) in Cape Town, South Africa. The Executive Committee of the continental body approved the nomination last Sunday and the Annual General Meeting unanimously ratified the appointment on Thursday. This is the first time a Ghanaian is leading the Association and also the first time a petroleum downstream regulator is leading the body. In submitting the nomination,...
Read moreThe Chamber of Bulk Oil Distributors (CBOD) has denied reports that some Bulk Oil Distribution Companies (BDCs) have threatened not to renew their $300,000 licenses due to the implementation of the Gold for Oil policy. The CEO of CBOD, Patrick Ofori, stated in a recent interview that no BDC has expressed such intentions and that the reports are unfounded. According to Mr. Ofori, the BDCs are not opposed to the Gold for Oil policy and do not see it as...
Read moreGhana’s oil production will grow slightly in the near term, with crude oil and other liquids production increasing from 142,440 barrels per day in 2022 to 145,390, Fitch Solutions has disclosed. This projection follows recent investments by Tullow Oil. Here is more. It said the investments to propel this moderate growth consists of a multi-year drilling campaign at the Jubilee and Tweneboa-Enyenra-Ntomme (TEN) fields which currently account for approximately 80% of Ghana’s upstream output. In 2022, Tullow’s investments included four new...
Read moreThe Ghana National Gas Company (GNGC) on Friday signed a Project Implementation Agreement with its joint venture partners to construct a second Gas Processing Plant (GPP Train 2) at an estimated cost of US$700 million. The gas plant would be sited at Atuabo in the Ellembele District of the Western Region and is expected to be completed within 24 months. It would generate 1,500 direct and indirect jobs within the Atuabo power enclave. At the signing ceremony in Accra, Dr...
Read moreThe deputy Energy Minister, Andrew Egyapa Mercer, has confirmed that the initial consignment of 40,000 tons of oil brought into the country under the Gold-for-oil policy was purchased with cash and not gold as widely claimed by the Vice President, Dr Mahamudu Bawumia. His disclosure comes after several calls by Industry experts such as the Institute of Energy Securities and COPEC for the government to disclose the quantity of gold it exchanged for the 40,000 metric tons of fuel as...
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