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Ref: CBDO/0013/2020 Dated 16th March 2020 COVID-19 CBOD OPERATING ADVICE TO BULK DISTRIBUTION COMPANIES (BDCs) AND DEPOTS The Ministry of Information has announced four (4) new confirmed cases of the Coronavirus infection (COVID-19), bringing the total of confirmed cases in Ghana to six (6). The CBOD in light of this and upon consultation with various […]

Few days after bouncing back from its sharp decline in nearly two decades, oil prices have gone down once again today. This was after a Saudi-Russian price war and an equities meltdown sparked by the coronavirus pandemic saw their biggest weekly losses in more than a decade. The Brent global benchmark was down 6% at

The Institute of Energy Security (IES) has predicted about 5 to 8% reduction in the prices of fuel at the pumps from today [Monday]. It follows drop in global crude oil prices as well as the relative stability which are two of the major determining factors for the prices of fuel at the pumps. The price reviews

The Chamber of Petroleum Consumers (COPEC) is advocating for protection of drivers and fuel stations nationwide from the novel coronavirus threat. Among other things, COPEC urged “as many fuel stations to make all the necessary arrangements to install self-serving or automated pumps across some service stations.” The group is also advocating for the use of

There is very little chance of petroleum legacy debts – a phenomenon which almost crippled the downstream sector – occurring again, as robust structures are now in place, Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, has said. Government, between 2011 and 2015, owed Bulk Oil Distribution Companies to the

Pressure is mounting on the oil marketing companies (OMCs) in the country to reduce ex-pump prices of petroleum products to reflect the positive changes in the variables that determine the prices. The changes include the continuous fall in the price of crude oil on the international market and the stability of the local currency against

The Chamber of Petroleum Consumers Ghana (COPEC), says it will not rule out the possibility of going to court to compel Oil Marketing Companies (OMCs) in the country to reduce fuel prices. The threat comes after a conflict over crude oil prices between Saudi Arabia and Russia pushed the global price of crude oil down

The Ghana Upstream Petroleum Chamber has announced the appointment of a new CEO. The announcement on March 9 2020, named veteran journalist David Ampofo as new CEO. The chamber represents the shared interests of companies involved in oil and gas exploration and production as well as oil field services in the country. The Chamber is

Oil prices saw its lowest drop since 1991 on Monday, March 9 after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Prior to this huge slash, crude prices had been relatively stable.

The Chamber of Petroleum Consumers (COPEC) is asking Oil Marketing Companies (OMCs) in the country to reduce their ex-pump prices for consumers to reflect the sustained decline in the global crude oil prices. According to COPEC, consumers could be benefitting from a reduction of between 10%-32% compared to the 2% that consumers have been given over