The Tema Oil Refinery (TOR) has acquired a 120-tonne-per-hour boiler to assist in the production of steam for onward conversion into electricity for the operations of the refinery. That will help the company to wean itself off the national grid and make it self-sufficient in energy supply. Currently, TOR consumes 7.5MW of power at peak […]
TOR acquires 120-tonne boiler to be power sufficient Read More »
The mercurial nature of the oil market has flipped the mood in the past two weeks from hysterical expectations of severely reduced supply from Iran to concerns over the pace of global economic and oil demand growth. Trade wars, weakening emerging markets and currencies, and the strengthening U.S. dollar began to overshadow market fears that
What’s Behind The Latest Oil Price Plunge? Read More »
Petro-states urgently need to begin diversifying their economies, shifting away from oil production, or else they face financial risks in the years ahead. That conclusion comes from the IEA’s new report, “Outlook for Producer Economies,” which warns that a changing energy system threatens the economies of oil-producing countries. The threat comes in multiple forms, both
Petro-States Face Extinction Read More »
Crude markets had a panic attack in August and September that sent prices soaring. Sanity is now returning. Prices have fallen but are likely to move even lower over the next few months. The panic attack was caused largely by Trump’s August 7 announcement that sanctions would be re-imposed on Iran. Anxiety about the effect
Why Oil Prices Could Still Go Lower Read More »
The new ship fuel regulations coming into force at the start of 2020 are set to create an initial confusion on the refining market and crude oil and oil product trade flows, analysts and industry experts say. We are now just 14 months away from January 1, 2020—the start date which the International Maritime Organization
Is A Diesel Crunch Coming? Read More »
Oil prices fell on Tuesday [October 10, 2018] following the IMF’s downward review of the global economic growth forecasts. Reuters however reports that markets were supported as Hurricane Michael closed nearly 40 percent of U.S. Gulf of Mexico oil output and U.S. sanctions restricted Iranian exports. The Fund reduced the global economic growth from 3.9
Oil prices drop after IMF’s review of global economic growth Read More »
The Tankers Drivers Union (TDU) says Monday’s industrial action by its members has been called off with immediate effect. The union of over 4,000 transporters of petrol, diesel and petroleum products, said they would suspend operations citing poor working conditions and salary distortions, and vowed to remain on strike until the National Petroleum Authority (NPA)
Tanker drivers call off strike Read More »
Labour has joined public disapproval of fuel price increases that hit the pumps last week. Fuel prices went beyond ¢5 per litre during last pricing window, causing many interest groups to call on the government to step in and provide some cushion. Already, the Chamber of Petroleum Consumers Ghana (COPEC) has called for “an immediate
Fuel price hikes not what you promised – TUC berates gov’t Read More »
Fuel shortage could hit the pumps from Monday if tanker drivers follow through with a threat to park their vehicles to protest poor service conditions. The Ghana National Petroleum Tanker Drivers Union, which is made up of over 4,000 bulk transporters of petrol, diesel and other fuel types, has said its members will park their
Fuel shortage imminent as tanker drivers threaten strike Read More »
Special Prosecutor Martin Amidu, has turned down a request to investigate how an amount of Ghc40 million cedis was allegedly transferred from the Bulk Oil Storage and Transportation Company Limited (BOST), to the presidency between August 2015 and early January 2017. The group calling itself the Centre for National Affairs, wanted the Special Prosecutor to
Amidu turns down request to probe Mahama, Debrah over ‘suspicious’ Ghc40m BOST cash Read More »
