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Even in the bloated-budget world of oil exploration, $70 million is a lot of money. And yet that’s how much Kevin Okyere, one of Ghana’s savviest yet understated entrepreneurs, has personally expended in developing the highly promising West Cape Three Points Block 2 offshore Ghana (WCTP2). Springfield Group, the energy conglomerate he founded and controls, […]

Crude oil prices jumped on Wednesday following the Energy Information Administrations’ latest weekly petroleum status report, with the authority confirming a draw in crude oil inventories of 5.8 million barrels for the week to August 17. A day earlier, the America Petroleum Institute estimated inventories had gone down by 5.17 million barrels. Analysts had forecast a modest draw

The Chamber of Petroleum Consumers Ghana (COPEC) is calling for “an immediate national dialogue” on constant fuel price increases that have hit consumers over the past few months. “Ghanaian petroleum consumers have over the past 24 hours been hit with another fuel price increases. Fuel prices across most Major Oil Marketing Companies within the country

The Ghana Community Network Services Limited (GCNet) in partnership with the National Petroleum Authority (NPA) has successfully integrated the Ghana Customs Management System (GCMS) with the National Petroleum Authority (NPA) petroleum trading platform (ERDMS) to enhance tracking and collection of revenue in petroleum trading activities in the downstream sector. With the seamless bridging of both

The National Petroleum Authority (NPA) says it has in collaboration with National Security and the Ghana Armed Forces arrested 17 persons engaged in smuggling and syphoning of oil in two separate operations. Thirteen persons suspected to be part of a cartel dealing in smuggling of petroleum products were picked up in the first operation. The

The Human Rights court has dismissed an application for interim injunction brought against the National Petroleum Authority (NPA) by the Ghana LPG Operators Association (GLiPGOA) & Togbi Adaku V. The Applicants filed an application praying for a declaration that the Cylinder Recirculation Model Policy (CRM) is inconsistent with the National Petroleum Authority Act, 2005 (Act

The African Centre for Energy Policy (ACEP) has opposed the proposed renegotiated Ameri deal, stating it will be a drain on the national purse. The John Mahama administration in 2015 entered into a $510 million deal with Ameri to provide an emergency power plant to augment power supply at the peak of the country’s electricity

Oil prices could spike as high as $200 per barrel over the next 18 months, which would cause an “economic crash of horrible proportions,” according to a new report. A research paper from economist and oil market watcher Philip K. Verleger predicts there could be a shortage of low-sulfur diesel fuel in 2020 as a

Africa’s richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters. Dangote, who built his fortune in cement, is building the world’s largest single oil refinery with capacity of 650,000 barrels per day (bpd) to

We refer to the statement issued by the National Petroleum Authority on the above subject dated 24th July 2018 and hereby respond as follows; 1. The Ghana Chamber of Bulk Oil Distributors (CBOD) acknowledges and supports interventions by the NPA and government agencies to address the menace of petroleum tax evasion that continues to bedevil