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The Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, have agreed to cut oil output by 10 million barrels per day (bpd) in May and June. That’s according to a statement released by the group. The move according to analysts is designed to help prop up petrol prices, which have been […]

The Chamber of Petroleum Consumers Ghana (COPEC) and the Consumer Protection Agency (CPA) have asked the National Petroleum Authority to withdraw with immediate effect, a cylinder investment margin (CIM) imposed on petroleum products effective April 2, 2020. According to the two bodies, the new levy/tax is illegal as it does not have parliamentary approval. A

OPEC will meet on Monday with Russia and other oil producers in the hope of agreeing supply cuts and ending a brutal price war. The meeting, called by Saudi Arabia, will be held via video conference and will include oil producers from outside the OPEC+ alliance that includes Russia and a few other countries, two senior

The Chamber of Bulk Oil Distributors has donated boom mic poles to some media organisations to aid journalists’ safe coverage of the coronavirus outbreak. The CBOD presented the boom microphone poles to the Multimedia Group (JoynewsTV), Despite Media Group (UTv) and Omni Media (CitiTv) on Friday, April 3, 2020. The poles, when connected to the

PRESS RELEASE CBOD MAKES VIRTUAL DONATION OF GHS100,000 TO KCCR VIA VIDEO CONFERENCING TO SUPPORT CORONA VIRUS TESTING April 1, 2020. 13.00 GMT The Chamber of Bulk Oil Distributors (CBOD) has donated an amount of GHS100,000 to the Kumasi Center for Collaborative Research (KCCR) on Wednesday April 1, 2020 via video conferencing, in line with

The Vice-Chairman of the LPG Marketers Association of Ghana, Gabriel Kumi, has described as unfortunate the introduction of the Cylinder Recirculation Recovery Margin introduced by the National Petroleum Authority on liquified petroleum gas. LPG operators have been asked by the NPA to start charging 13.5 pesewas on each kilogram of LPG. According to the Petroleum

The newly introduced levy or Cylinder Recovery Margin by the National Petroleum Authority (NPA), is to support LPGMCs/OMCs ahead of the implementation of the Cylinder Recirculation Model (CRM), the National Petroleum Authority has said. The NPA in March this year launched the pilot phase of the policy in Kade in the Eastern region and Obuasi

GOIL has reduced its petrol price by a margin of 10 percent. The reduction comes as the two weeks partial lockdown of Kumasi, Accra, Tema, due to the outbreak of coronavirus enters its fourth day. The reduction is taking effect at all its pumps with Diesel XP now selling at GHC4.32 and Super XP at

The African Centre for Energy Policy, ACEP, is calling on government to prepare a supplementary budget that will help manage the effects of low oil prices on the market. According to ACEP, the impact of revenue shortfalls from the oil and gas sector due to price volatility on the international market, has severe implications for

The Chamber of Petroleum Consumers COPEC is asking Oil Marketing Companies to communicate details of petroleum prices pricing with transparency so that consumers are in the know and do not harbor suspicions they are being shortchanged. This follows a press briefing to educate some journalists on the petroleum price build-up and pricing of petroleum products