Outgoing Finance Minister Seth Terkper, who also doubles as acting Power Minister, has assured Ghanaians there will be no increment in fuel prices at least during the Yuletide. “As we stand here BOST together with Ministry of Finance have invested in three cargos of crude which we put in strategic stock at South Africa, U. … Read more
Fuel prices have gone up by six per cent at the various service stations across the country, the Chamber of Petroleum Consumers Ghana has said. This current increases ranging between 4 and 6 per cent across the pumps is largely traced to the upward volatility of world market indexes over the past fortnight coupled with … Read more
Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0756 GMT, up 20 cents from their last close. U. … Read more
The Institute of Energy Security has projected a likely increase in fuel prices for the 2nd window Fuel prices are expected to increase at the various pumps by 2% anytime from December 16, 2016. According to the Institute of Energy Security, projections for the second pricing window show that the increment will span from December … Read more
Fuel prices are expected to increase at the various pumps by 2% anytime from December 16, 2016. According to the Institute of Energy Security, projections for the second pricing window show that the increment will span from December 16 to December 31. Principal Research Analyst at the Institute of Energy Security, Richard Rockson explains that … Read more
The Institute of Energy Security has said fuel prices are likely to go up by 2% from December 16 to December 31, 2016 per the second pricing window. Speaking to Benard Nasara Saibu on the Morning Starr, Principal Research Analyst at the Institute of Energy Security, Richard Rockson said consumers should brace themselves for an … Read more
Oil prices today Monday 12 December shot to their highest levels since mid-2015 after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up markets. Brent crude, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between … Read more
Oil prices edged up in thin trading on Thursday after steep falls in the previous session, supported by a weaker dollar, positive economic data and a drawdown in U. S. crude stocks. International Brent crude futures were trading up 4 cents at $53.04 a barrel at 0345 GMT after closing the previous session down 93 … Read more
The decline in crude oil prices on the world market has gravely affected the country’s oil sector, which is likely to adversely affect production from the Tweneboah-Enyerra-Ntomme (TEN) fields and the Sankofa Fields, Seth Terkper, Minister of Finance, has disclosed. Despite the low oil prices on the world market, the Finance Minister said government had … Read more
The Chamber of Petroleum Consumers Ghana has announced that fuel prices have gone down at the pump between 1 to 4 percent, barely a week to the December 7 polls. A statement signed by Duncan Amoah, Executive Secretary of the chamber, attributed the drop to the consistent decline in crude prices on the international market. … Read more
Barely a day to the end of the final pricing window for the month of November, prices of fuel across most oil marketing companies (OMCs) have dropped by between 1 and 4.23%, the Chamber of Petroleum Consumers, Ghana has announced A press statement released by Duncan Amoah, Executive Secretary for the Chamber on Wednesday, 30 … Read more
The Chamber of Bulk Oil Distribution Companies (CBOD) has alleged, and Goil has denied, that government is subsidising state-owned oil companies to stay prices when there is supposed to be price hikes, so as to outcompete the private sector. Senyo Hosi, CEO of the chamber, told the B&FT that government has, through GOIL and the … Read more
The Chief Executive Officer of the Chamber for Bulk Oil Distribution Companies (BDC) Senyo Horsi has warned government to end alleged unfair pricing war its engaged in with some BDC’s and Oil Marketing Companies (OMC’s) in the country. According to Senyo Horsi government is alleged to be engaged in subsiding its companies to stay prices … Read more
The prices of petroleum products have reduced considerably across pump stations in the country. The reduction had come off the back of predictions by the flagbearer of the New Patriotic Party, Nana Akufo-Addo, and the Institute for Energy Security (IES). Nana Akufo-Addo had said the government will reduce petrol price in a “desperate” move to … Read more
U. S. opens door to oil exports after year of pressure A domestic drilling boom of the past six years has transformed the U.S into an energy powerhouse. The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash … Read more
According to the Institute of Energy Security, trading activities within first pricing window for the month of November reveals most oil marketing companies are losing their market share to Goil, Top Oil, Radiance Oil, Glory Oil and Allied Oil because they were selling the cheapest fuel on the local market. Shell (Vivo Energy), Total Petroleum … Read more
Fuel prices are expected to fall by between 1.5 and 3% in the second-pricing window for November 2016, the Institute for Energy Security (IES) has projected. “As a result of marginal loss of the Ghana Cedi to the U. S. Dollar, the up to 8.12 % reduction in the prices of finished products on the … Read more
The Institute for Energy Security (IES) has predicted a marginal drop in petrol and diesel prices in Ghana in the coming days. According to IES, per their analysis, diesel and petrol are likely to go down by 1.5% and 3.0% respectively on the local market. “As a result of marginal loss of the Ghana Cedi … Read more
The Public Interest and Accountability Committee (PIAC) has joined a long list of advocates that have urged government to seriously consider restoring its hedging programme in order to cushion the country against the impact of oil price shocks on the state’s purse. The advice of a Committee established by an Act of Parliament to provide … Read more
Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that OPEC will reach a deal to cut output. Donald Trump’s surprise victory in last week’s U. S. presidential election has boosted stocks and the dollar, but undermined much of the commodities … Read more