The Vice President Dr. Mahamadu Bawumiah has inaugurated a state-of-the-art Command Centre for the National Petroleum Authority’s Bulk Road and Electronic Cargo Tracking Systems to control and monitor the distribution of petroleum products across the country. This technology will also help curb illicit activities in the petroleum downstream industry. According to the NPA, the dominant […]
Despite a 9 percent decrease, Urals spot prices in Northwest Europe were still one and a half times higher in 2019 than in 2016 ($63.3 versus $41.1 per barrel, according to Refinitiv), when the first OPEC + agreement was signed. As a result, the Russian budget again, as in 2017-2018, received additional income, which reached
Why Russia Should Exit The OPEC+ Deal Read More »
The Chamber of Petroleum Consumers (COPEC) has called on the government to take immediate steps to hedge the purchase of crude oil from the international market. It says it will enable the country avoid paying more for the product in the coming days. Oil hedging is used to reduce or eliminate a company or country’s
Time to hedge crude oil imports — COPEC Read More »
Oil prices have rose after two bases hosting US troops in Iraq were hit by ballistic missiles. Brent crude was up by 1.4% at $69.21 per barrel in the middle of the Asian trade, easing back from earlier gains. So-called safe haven assets, like gold and the Japanese yen, also rose on the news. At
Iran Attack: Crude Oil Prices Hike After Iraq Missile Attacks Read More »
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
Oil price surges above $70 a barrel Read More »
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
Four fuel tankers destroyed by fire at Bost depot in Buipe Read More »
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
Committee Set Up To Probe Inferno At BOST Depot At Buipe Read More »
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 »
