Oil & Gas

ACEP advises against GNPC relocation

The Africa Centre for Energy Policy (ACEP), an energy think tank, wants plans to relocate the headquarters of the Ghana National Petroleum Corporation (GNPC) to be abandoned. President-elect Nana Akufo-Addo recently reiterated his government’s desire to relocate the headquarters of GNPC to the Western region during a visit to the Western Region House of Chiefs. “The commitments that we have ...

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HFC bank to invest heavily in oil & gas in 2017

TEN

The Managing Director of HFC Bank, Robert Le Hunt has told Citi Business News the bank will make a substantial investment in Ghana’s oil and gas industry in 2017. According to him, the industry holds the potential to empower efforts by the government to increase local participation of Ghanaians in the sector. Speaking to Citi Business News, Mr Le Hunte ...

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Nigeria Oil Price Rises to $55.61

Crude Oil

The price of Brent crude rose to $55.61 per barrel on Wednesday, up 26 cents from the previous day in what will be good news to oil dependent Nigeria. The Nigerian government has repeatedly lamented the impact of the fall in global oil prices on its economy which is suffering from a recession. The current Muhammadu Buhari administration has pledged ...

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Oil to boost economy by 7.5% in 2017 – IMF projects

The International Monetary Fund (IMF) projects that Ghana’s economy will grow 7.5 percent in 2017 as the Tweneboa, Enyenra and Ntomme (TEN) oil field begins full production. To date, the Tweneboa, Enyenra and Ntomme (TEN) field has produced about 800,000 barrels of oil, and the gas export to the Gas Processing Plant (GPP) is expected to begin in the 1st ...

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Ghana’s oil and gas future extolled

Chief Director of the Petroleum Ministry, Professor Thomas Akabzaa, has given an upbeat assessment of the nation’s oil and gas industry, saying, its future is promising. He said with the start of oil drilling at the second oil field – Tweneboa Enyenra and Ntonme (TEN fields), and the Sankofa Gye Nyame expected to come on-stream next year, there certainly were ...

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ACEP launches platform to monitor energy sector manifesto

The Africa Centre for Energy Policy (ACEP) has launched a platform to enable citizens to access the manifesto of political parties, analyse it and make informed decisions on the energy sector. The platform dubbed: “Citizens’ Energy Manifesto Monitor,” serves as an accountability mechanism to monitor the manifesto of elected government. The document comprises all the promises made by the political ...

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