BY FREDERICK ASIAMAH – Contrary to general knowledge among the Ghanaian public as well as civil society groups that the Petroleum (Exploration and Production) Bill, 2010 has been withdrawn from Parliament, Mr Inusah Fuseini, Deputy Minister of Energy, insist the Bill is still before Parliament. Last Tuesday, Mr. Fuseini vehemently opposed suggestions that the Bill...
Politics
Political issues and events relating to oil produced in Ghana
Ghana Central bank hikes rates, cites euro zone
ACCRA Feb 15 (Reuters) – The Bank of Ghana’s Monetary Policy Committee announced a one percentage point increase to 13.5 percent in its prime lending rate on Wednesday, the first hike in three years, citing risks from the euro zone debt crisis and currency volatility. The decision surprised some analysts who had expected tame inflation...
Pay outstanding electricity bills or face ejection – GAF
The Nine oil companies operating at the Takoradi Air-Force Base are to pay all outstanding electricity bills with immediate effect or face ejection from the base, the Chief of Air Staff of the Ghana Armed Forces, Air Vice-Marshal Michael Samson-Oje, has said. Air Vice-Marshal Samson Oje gave this directive in Takoradi on Tuesday at...
Key political risks in the Gulf of Guinea
A stretch of West Africa’s coast spanning more than a dozen countries, the Gulf of Guinea is a growing source of oil, cocoa and metals for world markets. But rising rates of piracy, drug smuggling and political uncertainty in an area ravaged by civil wars and coups have made it a challenging area for...
Financial impropriety could affect NDC in Dec elections – EIU
The financial impropriety that has rocked the government could have far-reaching consequences for the National Democratic Congress (NDC) in the December elections, the Economic Intelligence Unit (EIU) has indicated. In its February 2012 political outlook on Ghana, the EIU noted that while President John Evans Atta Mills had struggled to maintain party unity, the...
Ghana and Euromoney hosts conference on finance and investment
Despite the global economic turndown, Ghana’s economy has registered remarkable growth over the last three years, with Real GDP growth increasing from 4.1 per cent in 2009 to 7.7 per cent in 2010, Mr Ishmael Yamson, Chairman of the Economic Advisory Council, has stated. Mr Yamson said apart from growth in GDP, single digit...
Ghana proposes easing of fuel price hikes
February Feb 8 (Reuters) – Ghana’s government has proposed a 20 percent reduction in fuel price hikes after labour unions threatened to go on strike, but the National Petroleum Authority has not yet signed off on the move, officials said. In December Ghana announced a cut in fuel subsidies following an increase in crude...
Supporting maritime security in Ghana: US Africa Command Blog
I just returned from a very successful planning meeting with the Petroleum Security Coordination Center (PSCC) in Ghana — the agency responsible for developing a strategic security plan for their oil and gas industry. We have been asked to support their effort by conducting a table top exercise to test Ghana’s Maritime Strategic Plan,...
Gas shortfall plunges Ghana into load shedding
BY CHIKA AMANZE-NWACHUKU, This Day –Drastic reduction in gas supply from Nigeria through the West African Gas Pipeline Project (WAGPP) has forced the Electricity Company of Ghana (ECG) to resort to load management in various parts of the country, pending when normalcy would return. The WAGPP was initiated by the Federal Government with governments...
Kojo Bonsu grateful to board and managemet of GOIL
Mr. Kojo Bonsu, the recently replaced acting Managing Director of GOIL says he is grateful to the Board, Management and staff of the company for the co-operation and loyal support he received for the past six months during which he managed the largest existing indigenous oil marketing outfit in the country. In an interview...
