Oil prices are moving back towards the US$90-per-barrel threshold, as stalled US-Iran negotiations and sharply reduced shipping through the Strait of Hormuz revive concerns about the durability of global petroleum supplies. Brent crude rose by more than 1% in early Asian trading on Monday, August 17, with renewed geopolitical uncertainty providing fresh support to prices....
Category: Oil and Gas
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GNPC Sees Voltaian Basin as Ghana’s Next Petroleum Frontier
Ghana’s National OilCompany is positioning the Voltaian Basin as the country’s most important long-term upstream frontier, arguing that the underexplored basin could reshape Ghana’s petroleum future at a time when global investment capital is becoming increasingly selective.According to the report, Ghana National Petroleum Corporation (GNPC) Chief Executive Kwame Ntow Amoah said the basin represents a...
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Ghana’s refining capacity yet to shield fuel market from global shocks – CEMSE
Ghana’s growing refining capacity will improve fuel security but cannot yet fully shield the country from global petroleum market shocks, Benjamin Nsiah, an energy expert, has said. He said local refineries operating at full capacity could meet about 60 per cent of current domestic petroleum demand, leaving the country dependent on imports for the remainder.Mr...
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Jinapor Engages Upstream Petroleum Chamber on Oil Production, Gas Supply and Sector Reforms
The Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has held discussions with the Ghana Upstream Petroleum Chamber on measures to strengthen the country’s upstream petroleum sector and attract increased investment. The engagement provided an opportunity for the Minister to review developments in the upstream industry since the government assumed office, outline interventions...
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Henos Launches Ghana’s First Drive-Thru LPG Outlet
Henos Energy has commissioned Ghana’s first Drive-Thru Cylinder Distribution Outlet (CDO) at East Legon Hills, introducing a new approach to LPG distribution that could change how urban consumers access cooking gas. The facility operates under the National Petroleum Authority’s (NPA) Cylinder Recirculation Model (CRM), allowing motorists to exchange empty cylinders for filled ones without leaving...
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PETROSOL secures approval to raise capital on Ghana Stock Exchange
PETROSOL Platinum Energy PLC, one of the leading oil marketing companies has received approval from the Ghana Stock Exchange and the Securities and Exchange Commission to raise long-term capital through the Ghana Stock Exchange, Managing Director Michael Bozumbil has said. The approval marks a milestone for the company, which has evolved over two decades from...
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Fuel pricing norm broken as market turns ‘radically volatile’ – COMAC CEO
The CEO of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, says Ghana’s fuel market has entered an unusually volatile phase, forcing oil marketing companies (OMCs) to respond in ways rarely seen under the country’s pricing system. His comments come as the government rolls out a ¢ 2-per-litre cushioning on diesel after another...
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LPG Demand Accelerates, but Supply Strategy Faces a New Test
Ghana’s latest petroleum import figures show that LPG imports continued to rise during the review period, signalling sustained growth in household and commercial demand for cooking gas.The trend is important because LPG has become one of the most visible components of Ghana’s clean-cooking and energy-transition agenda.The data indicate that LPG remains heavily dependent on imported...
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S/Africa targets Dangote Refinery secondary listing after planned Nigeria IPO
The Johannesburg Stock Exchange (JSE) is courting Dangote Petroleum Refinery for a secondary listing following the company’s scheduled initial public offering (IPO) on the Nigerian Exchange (NGX) later this year. The pursuit forms a broader part of the South African bourse’s strategy to attract high-profile African corporates and expand cross-border liquidity, positioning itself as the...
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Dangote Refinery turns to Libyan crude as supply from Nigeria slows!
Dangote Refinery has continued to intensify the diversification of its crude feedstock, reducing its dependence on Nigerian grades as it ramps up imports from Libya and other African producers to sustain high operating rates. According to crude tracking data by Argus Media, domestic crude accounted for 71 percent of the refinery’s feedstock in July, down...