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The Chamber of Petroleum Consumers (COPEC) has petitioned the Speaker of Parliament over the proposed increase in components of the Energy Sector Levies (ESLA) which will lead to increase fuel prices. COPEC in its petition said the “current fuel price increase is coming at the wrong time.” The mid-year budget reviews saw an upward adjustment in […]

The energy sector, whose inherent financial and technical inefficiencies affect every facet of the economy and millions of lives, is next in line for a major clean-up after a similar exercise undertaken in the banking sector over the last two years, the Finance Minister, Ken Ofori-Atta, has said. Fresh from an expensive banking sector clean-up

The Chamber of Petroleum Consumers (COPEC) says it intends to protest the increase in the Energy Sector Levies (ESLA) which will increase fuel prices. During the mid-year budget review, the Finance Minister said the government had to turn to the ESLA to raise more funds to settle legacy debts inherited from the previous government. COPEC’s Executive

Some tanker drivers on Monday, threatened to stop lifting petroleum products from the Tema Oil Refinery (TOR) if management does not fix its deplorable parking space. The drivers, who park their gas and oil tankers at the TOR tanker park did not load for hours even when some of their leaders informed them about the

The National Petroleum Authority (NPA) is to begin a pilot system of the cylinder recirculation model in two districts of the Eastern Region with public sensitization and community engagements. According to the NPA, the model will be a major game-changer in minimizing and possibly eliminating gas explosions in the country. It will be piloted in

Retailers of Liquefied Petroleum Gas (LPG), are calling on Akufo-Addo’s government to scrap the 23 percent tax levied on the fuel product. The LPG Marketing Association of Ghana wants the Finance Minister, Ken Ofori Atta, to take advantage of next week’s mid-year budget review, to bring relief to Ghanaians. “We note with grave concern that

Government is pondering the idea of either issuing new bonds to cater for the rising energy sector debts on the back of changes to the Energy Sector Levies and Accounts or to shelve plans for the bonds until Energy Sector Levies and Accounts (ESLA) inflows improve significantly. A decision is expected to be taken before

IN 2018, shippers paid less than what they did in 2017 to shipping lines for undue grounding and detention of containers after the mandatory free periods, the Chief Executive Officer (CEO) of the Ghana Shippers Authority (GSA), Ms Benonita Bismarck, has disclosed. This, she explained, meant that demurrage declined by 22.4 per cent to US$59

More Oil Marketing Companies (OMCs) which had retail outlets which were cited as shortchanging consumers are to replenish the quantities to their respective customers within the coming days. That is the assurance from the Chamber of Petroleum Consumers, COPEC. The move follows series of negotiations and the need to give value for money despite complying