News

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 […]

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

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)

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 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

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

Energy Think Tank, Africa Centre for Energy Policy (ACEP), has backed calls for the government to bring relief to fuel consumers by scrapping some taxes from the petroleum price build up. Fuel prices crossed the GHc5 per litre mark earlier in the week, giving rise to calls for government to cushion consumers against economic hardship.

  The National Petroleum Authority (NPA) is advocating a review of the law setting it up to give it powers to prosecute smugglers of petroleum products. Pursuant to the current law, the authority can only impose a fine, suspend or ban companies that engage in illegal activities. The authority has, since September last year, apprehended

    Bulk Oil Distributors have denied paying ¢40.5m in ‘security fees’ after revelations, it ended up ‘illegally’ in the office of the Chief of Staff’s account. Senyo Hosi who is Chief Executive of the Chamber of Bulk Oil Distributors said on Joy FM Monday, ‘there is nothing like security fees’ in their invoices. He

    The National Petroleum Authority (NPA) has cleared Globex Energy Limited to do business in all petroleum downstream activities. Earlier in a press release, the NPA suspended Globex Energy Limited together with other oil companies over tax evasion. A spokesperson for the company, by a letter dated 3 August, 2018, said the NPA cleared