The Africa Centre for Energy Policy (ACEP) says Ghana will not be able to repay its $2 billion barter agreement with China if it relies solely on revenue from the proposed Integrated Aluminum Industry. This is contained in a paper published by ACEP that analyses the plan as put out by government. Parliament in July 2017 […]
ACEP Says Ghana Cannot Repay $2bn Sinohydro Loan Read More »
Government’s inability to track the sales and movement of petrol-based products on the local market has created the space for an illegal trading of the commodity, costing the economy over GH¢25million between 2015 and 2018, according to a report released by the Chamber of Bulk Oil Distributors (CBOD). The illegality recorded an unreported tax receipt
Consumers is likely to suffer an oil and gas shortage due to what the Ghana Chamber of Bulk Oil Distributors (CBOD) has termed “unhealthy competition” amongst Bulk Distribution Companies (BDCs) and commercial banks. The unhealthy competition has reportedly resulted in the average BDC premiums falling from $ 66.60/mt to $65.75/mt for gasoline and $64.12/mt to
Oil Shortage Looms Over ‘Unhealthy’ Rivalry Read More »
Mohammed bin Salman said failure to act could embolden Iran and lead to war, which he said would ruin the global economy, following an attack on oil facilities which he blames on Tehran. Iran said the prince’s remarks would “bring [the Saudis] nothing but shame”. The prince also said he accepted some responsibility for journalist
Saudi crown prince warns of ‘Iran threat’ to global oil Read More »
The fight against the illicit trade of refined petroleum products is yielding results, with the latest report on the activities in the downstream petroleum subsector showing that the country saved nearly GH¢1 billion, which would have otherwise been lost through smuggling of the products. The report showed that GH¢952 million was saved from blocking the
GH¢1bn Saved From Fuel Smuggling In 2018 — CBOD Report Read More »
The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD) Senyo Hosi has bemoaned the culture of lateness in the country. He said the canker which has become an acceptable norm in our societal life has set the country in a fast retrogressive manner towards productivity. Senyo Hosi indicated that time has
Let’s Start Scoring Time In Schools, Workplaces To Increase Productivity ― Senyo Hosi Read More »
The Economist Intelligent Unit (EIU) says there will be hardly any room for the Bank of Ghana (BoG) to cut its policy rate, as inflation is further expected to inch up in the coming months. According to its Country Report for September 2019, due to factors such as depreciation of the cedi, slow pace of
No chance for policy rate cut – EIU predicts Read More »
The Institute of Energy Security (IES) has predicted a further increase in petroleum prices in the coming days. This prediction follows attacks on critical oil facilities in Saudi Arabia over the weekend. According to the IES, the situation is likely to cause a shortage of oil on the world market, thereby leading to a hike
Fuel Prices To Go High Again – IES predicts Read More »
The International Maritime Organization, IMO says it will enforce a new 0.5% global Sulphur Cap on fuel content from 1st January, 2020. According to the IMO, Sulphur in gasoline impairs the effectiveness of emission control systems and contributes to air pollution hence the enforcement of the new 0.5% global Sulphur Cap on fuel content will
IMO To Enforce New Global Regulation On Sulphur Cap In 2020 Read More »
The General Transport, Petroleum and Chemical Workers Union (GTPCWU), want a reduction in the price of fuel to help ease the cost of living of Ghanaian workers. According to the national secretariat of the union in a statement issued recently, the frequent unannounced fuel price hikes were dealing hefty blows to the pockets of workers, whose salaries
Petroleum Workers Want Fuel Prices Reduced Read More »
