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 […]
What Will Happen To Oil If There Is Another War? Read More »
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
Ato Morrison Is Acting Managing Director Of TOR Read More »
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
Fire Guts Three Fuel Tankers Near BOST Depot At Buipe Read More »
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
Oil prices surge after US strike kills Iranian general Read More »
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
Juwel Energy adjudged ‘BDC of the Year’ again Read More »
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
NPA reverses decision to increase BOST margin on petroleum products Read More »
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
Official: Springfield E&P Discovers 1.5 Billion Barrels Of Crude, Gas Offshore Ghana Read More »
Liquefied Petroleum Gas (LPG) Pump Attendants will soon be licensed by the Environmental Protection Agency (EPA) as part of the broader procedures to inject professionalism into the sector to reduce accidents concomitant with gas usage. The EPA has, therefore, rolled-out initial processes towards the licensing regime which requires that every LPG Attendants must go through
EPA to license LPG Station Attendants Read More »
The Bulk Oil Storage and Transportation (BOST) company has written off 50% of the BOST overstay fees charged to Bulk Distribution Companies. This follows successive negotiations between the Chamber of Bulk Oil Distributors (CBOD) and BOST. The BOST overstay charges has been a matter of contention between the two sides because in as much as
Global oil-producing group OPEC and its allies are meeting in Vienna, with expectations raised over whether the alliance will make further cuts to its output at the two-day gathering. The 14 members of OPEC and a group of allied non-OPEC producers led by Russia (collectively known as OPEC+) are expected to at least keep production
OPEC considering a deeper cut to its oil production Read More »
