News

Despite moves by the central bank to sanitize the banking sector, the industry’s asset quality remains a source of concern as the Non-Performing Loans (NPLs) ratio remain high, the Bank’s Sector Report has revealed. The stock of NPLs increased from GH¢7.1bn as at end-April 2017 to Gh¢8.63bn in April 2018- a new record high, the […]

South Africa’s Eskom Holdings SOC Ltd. and KfW, the German development bank, signed a $100 million loan facility to connect renewable-power projects run by independent producers to the grid. The loan will support expanding the transmission network in the Northern Cape province after the government signed long-delayed power-purchase agreements in April for projects worth $4.1

The Chief Executive of Ghana’s Petroleum Commission, Egbert Faibille, has described petroleum data as a national asset which must be safeguarded through efficient data management systems for future benefit to the state. “It is a time-tested truth that oil and gas discoveries are the product of repeated use of data. This underscores the value of

Saudi Arabia has increased its oil production this month by 700,000 bpd to 10.70 million bpd, very close to its highest-ever production of 10.72 million bpd from November 2016, a Reuters survey showed on Friday in a clear sign that OPEC’s largest producer is making up for supply drops elsewhere within the cartel. Saudi Arabia’s

It has emerged that Seadrill Ghana Operations Limited is demanding $277 million from Tullow Oil Ghana Limited (TGL), a subsidiary of Tullow Oil Plc, in an arbitration process in London. The company, which filed claims in a Commercial Court in London – United Kingdom, is seeking a declaration that Tullow was not entitled to terminate

Government is on course to transform the country’s energy system away from fossil fuels towards energy efficiency and sustainable energies such as wind and biomass, a Deputy Minister for Energy, Joseph Cudjoe, has told parliament. Answer a question on plans to transform the country’s energy system away from fossil fuels, Joseph Cudjoe said by the

Oil company Tullow Oil has contracted a second rig to work on its drilling program and accelerate production growth in Ghana. Tullow is the operator of two fields located off Ghana, the Jubilee and Tweneboa, Enyenra, Ntomme (TEN). In addition to Maersk Drilling-owned Maersk Venturer drillship, which is already working off Ghana, Tullow has now

U.S. Energy Secretary Rick Perry believes that Saudi Arabia and Russia will be able to boost their oil production to stabilize the oil market and compensate for losses of Iranian oil supply. “I am comfortable that Saudi Arabia is going to be able to increase their production to… 11 million barrels per day going forward,

The National Petroleum Authority (NPA) will from next month, July 2018, begin issuing licences to companies which seek to set up bottling plants for the Cylinder Recirculation Model (CRM). According to the Chief Executive Officer (CEO) of the NPA, Mr Alhassan Tampuli, 18 companies have so far put in applications to participate in the CRM.