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Oil prices have climbed above $70 a barrel for the first time in four months amid fears that the US air strike that killed Iran’s top military commander may trigger a retaliation. The global oil markets have risen by more than 5% to $70.73 a barrel since the attack that killed Qassem Suleimani in Iraq […]

Personnel of the Ghana National Fire Service (GNFS) Friday evening prevented fire in a parked fuel tanker at a waiting area in front of the Bulk Oil Storage and Transport (BOST) depot at Buipe in the Savannah Region from spreading to the main storage facility of the company. However, the fire affected three other tankers

An investigative committee has been set up to probe a fire incident near a depot belonging to the Bulk Oil Storage and Transportation Company Limited (BOST) at Buipe in the Savannah Region on Friday. Government Relations Manager at the Buipe depot, Mr Yaw Antwi-Dadzie, told the Ghana News Agency (GNA) that the committee will ascertain

Mitch Kahn remembers how, when fighting began in the second war in Iraq, prices for US crude oil spiked $10 per barrel overnight. That would have meant a profit of $50,000 if a trader had made the smallest purchasing trade possible. Or, just as big a loss if the trader had decided to sell. Mr

Ing. Herbert Ato Morrison has been appointed acting Managing Director of the Tema Oil Refinery, Citi News can confirm. His appointment follows the resignation of Isaac Osei, who served as the MD of the company for nearly three years. A source at the refinery disclosed to Citi News that the mantle fell on Ing. Morrison

Three fuel tanker trucks have been destroyed by fire near a depot belonging to the Bulk Oil Storage and Transportation Company (BOST) at Buipe in the Central Gonja District of the Savannah Region. Officials of BOST told citinewsroom.com that efforts have been put in place to put out the fire. [PHOTO]http://cdn.modernghana.com/images/content/132020100603-qulxocb543-whatsapp-image-2020-01-03-at-12.10.07-pm.jpeg[/PHOTO] “Three of the tankers parked

Oil prices soared more than four percent Friday and equities reversed early gains following news that the US had killed a top Iranian general, fanning fresh fears of a conflict in the crude-rich region. The head of Iran’s Quds Force, Qasem Soleimani, was hit in an attack on Baghdad’s international airport early Friday, according to

Juwel Energy Limited has been declared the ‘Bulk Oil Distributing Company (BDC) Company of the Year’ at the 2019 Ghana Oil and Gas Awards. This is the second time in succession that the wholly Ghanaian downstream oil and gas company has won the award after it picked a similar award in 2018. Juwel Energy also

The National Petroleum Authority (NPA) has reversed with immediate effect its earlier decision to increase the BOST margin on petroleum products by 100 per cent. The communication to reverse the earlier decision was contained in a memo to the Oil Marketing Companies on Monday. The BOST margin was expected to increase from GH¢0.03 to GH¢0.06

Springfield Exploration and Production (E&P) Limited, an independent upstream player in the Republic of Ghana and its partners, Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO, on Wednesday, officially announced the discovery of 1.5 billion barrels of crude and gas at its Afina-1 well in Block 2, offshore Ghana. “Springfield has more than doubled its