Oil & Gas

INFLATION RATES FOR AUG 2018: IMPLICATIONS FOR YOU AND ME

Inflation is generally the increase in the overall prices of goods and services within a region or area. When there is inflation purchasing power reduces. Purchasing power deals with the ability of the financial resources a person has to purchase a certain amount of goods or acquire certain services. Simply put, in times of inflation you cannot buy the same ...

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Aker Energy Expands Activity In Ghana

Aker Energy

Aker Energy, a 50-50 joint venture between Aker and TRG, has entered into an agreement with Hess Corporation to acquire a 50 percent participating interest in the Deepwater Tano Cape Three Points block (DWT/CTP) offshore Ghana. The total cash consideration for the transaction is USD 100 million, consisting of USD 25 million payable upon closing of the transaction and a ...

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Prospects of oil discovery in Voltaian basin promising – Akufo-Addo

The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Thursday,  February 8, 2018, when he was  delivering the State of the Nation Address in Parliament said his government recognises the importance of exploiting the countries offshore hydrocarbon resources, stressing that it is equally critical not to ignore the possibilities of the nation’s onshore deposits, especially in the Voltaian Basin. ...

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Government Excludes Exxon Mobil in New Petroleum Register

exxon mobil

The Government of Ghana has launched a public register of petroleum contracts as a means of enhancing transparency and accountability in the oil and gas sector. The register, however, does not include the Exxon Mobil contract which was signed in 2015. The company signed a memorandum of understanding with Ghana to assess its Deep Water Cape Three Point (DCTP) region ...

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Tullow Ghana to drill Wells In 2018

  Tullow Oil has announced in a statement that it will drill at least two more wells commencing February 2018. It said it has secured the Maersk Venturer rig to be “used across the TEN and Jubilee fields and has been contracted for up to four years with favourable early termination provisions.” “The first well planned is an Ntomme production ...

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USAID promotes strategic partnerships in the oil and gas sector

West African Gas Pipeline

As part of a program to improve the competitiveness of local businesses, the United States Agency for International Development (USAID) and government have held a conference in the Western Region for stakeholders in the oil and gas sector. At the conference, participants shared lessons learned and best practices and highlighted the achievements of local businesses in the industry. The conference ...

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Ghana remains an oil led economy – Statistical Service

Ghana’s economy continues to be led by the oil sector according to some figures released by the Ghana Statistical Service . A development, some economists have warned could have dire implications for the country’s future if not checked. For the third quarter this year, the Ghana Statistical Service stated that oil contributed largely to the growth in the country’s Gross Domestic ...

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NPA assures Ghanaians

The National Petroleum Authority (NPA) has assured the general public that there will be no increment in fuel prices at the pumps this festive season. “This is as a result of a marginal drop of fuel prices on the world market. The Exchange Rate has also remained relatively stable,” the NPA announced in a statement. It also said it has ...

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