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the Ghanaian public as well as civil society groups that the Petroleum (Exploration and Production) Bill, 2010 has been withdrawn from Parliament, Mr Inusah Fuseini, Deputy Minister of Energy, insist the Bill is still before Parliament.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...
Business
Issues and events related to the business of oil production in Ghana
SA firm to build oil refinery in Ghana
South Africa’s Alpha Refinery is financing the construction of a $ 7 billion refinery at Atuabo in the Western Region to process crude from the Jubilee Fields, Executive Chairman, Melvyn Julie, said in Accra. The refinery will have a capacity to process 200,000 barrels of crude a day. “We have signed the Memorandum of...
Tullow to list in Uganda Stock Exchange
KAMPALA, UGANDA – After successfully listing on the Ghana Stock Exchange, Oil explorer Tullow is set to list on the Uganda Securities Exchange (USE). According to Mr. Jimmy Kiberu, the Corporate Affairs Manager at Tullow Uganda, the process of registering on the Uganda bourse commenced in the first part of 2010 – 2011. “It (Floating...
Ghana to collaborate development agenda with other African countries -Veep
Vice President John Dramani Mahama has given the assurance that Ghana would always do everything within her purview to support African and other Third World countries in their development agenda. He said it is only through such collaboration that the country could effectively identify areas that she is comparatively stronger and develop strategies for partnership...
Asian refiners to cut West African crude imports by 13% in March
By Sherry Su (Bloomberg) — Asian refiners will cut their daily imports of West African crude for loading in March by 13 percent from an at least seven-month high in February, according to a survey of six traders and an analysis of loading programs obtained by Bloomberg News. A total of 62 cargoes amounting to...
Sub-Sahara Africa Stocks: Tullow Oil Ghana, UBA Nigeria move
Tullow Oil Plc (TLW GN), the Accra listing of the London- based oil company, advanced 3.2 percent to 32 cedi, the highest since Sept. 16. Oil rose after China said it would help resolve Europe’s debt crisis, easing concern that economic growth will slow and curb fuel demand.
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...
Tullow Oil reiterates focus on local content development
Jubilee Partner, Tullow Oil Ghana says local content build-up is at the heart of its oil and gas operations because of the commercial advantages. Communications Manager, Gayheart Mensah says local capacity building and capability development helps to ease access to local raw materials for the company whilst creating shared prosperity in the country. This he...
Indian engineering companies explore new business at Oil & Gas Africa
Many India Oil Exploration and companies have expressed major interest in establishing business at the sub-Saharan region where oil is recently seen as a major dominant factor of economy progression. In a press statement copied to Ghana Oil Info in sequence of the upcoming Oil and Gas Africa 2012 expo event, indicated that India’s...
Ghana OMCs hope for full participation in oil sector
Some Oil Marketing Companies (OMCs) have said after one year of oil production in Ghana there is still no clear opportunity to fully participate in the budding industry. The companies had high hopes prior to the oil production in Ghana and the opportunity to do business in the industry. Industry players even predicted an...
