NPA hints of increment in LPG prices
The National Petroleum Authority (NPA), has given indications of an increment in prices of LPG products as government prepares to implement the Cylinder Re-circulation policy. The Chief Executive Officer of the NPA, Hassan Tampuli, who made this revelation when he appeared before the Mines and Energy Committee of Parliament, said the new policy will bring […]
Oil hits two-year high on Saudi purge, world shares retreat
LONDON (Reuters) – Oil jumped to its highest in over two years on Monday as Saudi Arabia’s crown prince cemented his power through a crackdown on corruption, while world shares eased a notch and major currencies traded in tight ranges. FILE PHOTO: An investor looks at an electronic screen at a brokerage house in Hangzhou, […]
Energy bond auction ends today
Government is expected to conclude the auctioning of the energy bond Friday, November 3, 2017; barring any last minute changes. Managers of the bond had to extend the auction for the bond after they failed to raise the 6 billion cedis expected. The 7 year bond made the 2.4 billion cedi mark after auctioning closed […]
A Breakdown of Taxes, Levies and Margins Imposed on Ex-Pump Prices
Taxes are the main source of revenue for government. Proceeds from the tax collection are used to undertake government policies and to meet expenditure and other budgetary requirements. Petroleum products are no exception from tax impositions as such various taxes, levies and margins are imposed on petroleum products before it is passed down to the […]
COPEC wants ‘undersubscribed’ energy bond halted
COPEC, a petroleum sector watchdog, is demanding that government abrogates the ¢10 billion Energy Bond currently being issued. According to the petroleum sector watchdog, the bond rules out any possibility for the government to scale down on taxes on the commodity “even in the event of shocks on the international markets as happened in recent […]
NPA urges Nigeria to reduce sulphur content in diesel
The National Petroleum Authority is urging its Nigerian counterpart to reduce the sulphur content in its diesel fuel to about 50parts per million(ppm). Nigeria is currently doing 3,000ppm of sulphur content, which is considered to be toxic fuel. Mr. Tampuli who was speaking in Nigeria, Lagos during the Oil Trading and Logistics Downstream Expo said […]
Don’t blame us entirely for Atomic junction explosion – EPA
The Environmental Protection Agency (EPA), has said it cannot be fully blamed for Saturday’s gas explosion at Atomic junction in Accra. It said although it admits that its mandate included ensuring that the gas station where the explosion occurred was complying with environmental safety regulations, other agencies also had various roles to play in ensuring […]
We Need A Public Inquiry Into Atomic Gas Explosion – Senyo Hosi
Chief Executive Officer of the Chamber for Bulk Oil Distributors (CBOD), Senyo Hosi has called on government to sanction all authorities of the Atomic Junction gas station whose negligence led to the massive gas explosion on Saturday, October 7. Speaking in an interview with host Kwami Sefa Kayi on Peace FM’s ‘Kokrokoo’, he expressed disgust […]
BDCs LOSE 140 MILLION CEDIS IN THREE MONTHS.
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, Mr. Senyo Hosi has debunked claims that Bulk Oil Distributors (BDCs) are making profit. Mr. Hosi made this statement when he took a seat on Point blank on eye witness news on Citifm. Mr. Hosi however, made it clear the people he represents […]
New policy not solution to gas station disasters – Senyo Hosi
The Chief Executive Officer of the Chamber of Bulk Oil Distributors Senyo Hosi is against the formulation of a ‘new’ policy to regulate the activities of gas stations in the country. According to him, the enforcement of already existing laws and constant supervision, would prevent gas station disasters. Speaking on Joy FM’s Super Morning Show […]
