OPEC, GECF sign MoU to strengthen cooperation
MOHAMMAD Sanusi Barkindo, Secretary General of OPEC, and his GECF counterpart, Yury Sentyurin, signed the MoU in Moscow on the sidelines of Russian Energy Week. The purpose of the MoU is to establish and strengthen cooperation in order to carry out activities and share experiences, views, information and best practices in areas of mutual interest. […]
EOCO, GRA Probing Culprits In Tax Evasion – NPA Boss
The Chief Executive Officer (CEO) of the National Petroleum Authority, Hassan Tampuli, has said his outfit is doing its best to address the issues of tax evasion in the petroleum downstream sector. The said his outfit has been ensuring strict punishment for persons found guilty when found out. “As for the punishment in the industry, […]
Adulterating Fuel Caused Kpone Tanker Explosions – COPEC
Chamber of Petroleum Consumers (COPEC) is blaming Wednesday night’s fire explosions at a Kpone tanker yard on illegal activities being carried out by persons adulterating fuel. The Chamber said the development must be a trigger for stringent measures to be adopted to prevent fuel diversion and adulteration. In a statement signed by Duncan Amoah, the […]
Fire Burnt 15 Gas Tankers To Ashes At Kpone
At least 15 gas tankers have been burnt to ashes at Kpone tanker farm in the Greater Accra region. The tankers reportedly belong to the oil marketing company, Goodness Energy. The fire broke out at about 8pm Wednesday. The Ghana National Fire Service has said it is investigating the cause of the inferno. At least […]
ACEP Says Ghana Cannot Repay $2bn Sinohydro Loan
The Africa Centre for Energy Policy (ACEP) says Ghana will not be able to repay its $2 billion barter agreement with China if it relies solely on revenue from the proposed Integrated Aluminum Industry. This is contained in a paper published by ACEP that analyses the plan as put out by government. Parliament in July 2017 […]
GH¢2,7 billion lost to taxes, margins in petroleum downstream sector
Ghana lost GH¢2.7 billion in taxes and regulatory margins in the petroleum downstream sector from 2015 to 2018, the latest report on activities in the downstream petroleum sub-sector has indicated. The report, prepared by the Ghana Chamber of Bulk Oil Distributors (CBOD), showed that the country lost GH¢2,559.08 million in taxes and evaded regulatory margin […]
Powerful Cartel Stealing Petroleum Revenue — Senyo Hosi
Chief Executive of the Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has said powerful cartel of industry players is stealing Ghana’s petroleum revenue. The comments by Mr Hosi come on the back of revelations in CBOD’s annual report on the movement of petroleum products that, some 1billion litres of the refined commodity could not […]
Chamber of Bulk Oil Distributors outdoors 2018 Industry Report
The Chamber of Bulk Oil Distributors (CBOD) will, on Tuesday, launch its 2018 industry report. Among the key issues highlighted in the report include fuel quality policy, license rationalization, health safety security and environment policy, Ghanaian content and Ghanaian participation policy. The report also talks about steps taken by the National Petroleum Authority (NPA) to […]
GH¢1bn Saved From Fuel Smuggling In 2018 — CBOD Report
The fight against the illicit trade of refined petroleum products is yielding results, with the latest report on the activities in the downstream petroleum subsector showing that the country saved nearly GH¢1 billion, which would have otherwise been lost through smuggling of the products. The report showed that GH¢952 million was saved from blocking the […]
Saudi crown prince warns of ‘Iran threat’ to global oil
Mohammed bin Salman said failure to act could embolden Iran and lead to war, which he said would ruin the global economy, following an attack on oil facilities which he blames on Tehran. Iran said the prince’s remarks would “bring [the Saudis] nothing but shame”. The prince also said he accepted some responsibility for journalist […]
