Senior Minister, Yaw Osafo Maafo, has opposed the idea of totally abolishing subsidy on electricity supply, arguing that various situations may necessitate the subsidizing of power to a segment of consumers. Speaking at the just-ended two-day Ghana Energy Summit, Ing. Osafo Maafo said: Energy is what we need as a constant to make the economy … Read more
How can Ghana move forward if people with chains of degrees decide to tell lies through their teeth? It is very strange and a display of in intellectual dishonesty for people like Arthur Kennedy to always turn the facts upside down like Prez. Akufo-Addo has been doing by saying that June Four Harmed Ghana. Rather … Read more
Our attention has been drawn to a publication in The Chronicle newspaper of Monday, 27th May, 2017, under the above headline “Asogli Plant Shutdown…560MW of power lost in dispute over pipeline connectivity.” In that publication, you put out a number of inaccuracies making it necessary for us to publish this rejoinder. Your story is about … Read more
Captain Adam Maxwell Mahama will be buried tomorrow but not the question of who killed him. According to official sources at the Criminal Investigation Department (CID), the late captain met his untimely death while checking ‘Galamsey activities at Diaso in the Upper Denkyira District of the Central Region.’ Certainly, this kills earlier assertion of mob … Read more
Our attention has been drawn to a publication in The Chronicle newspaper of Monday, 27th May, 2017, under the above headline “Asogli Plant Shutdown…560MW of power lost in dispute over pipeline connectivity.” In that publication, you put out a number of inaccuracies making it necessary for us to publish this rejoinder. Your story is about … Read more
Egypt is closing its airspace to Qatari planes in a growing diplomatic row, with Saudi Arabia and Bahrain expected to do the same on Tuesday. Several countries have cut ties with Qatar, accusing it of supporting terrorism in the Gulf region. Qatari nationals in Bahrain, Saudi Arabia and the UAE have been given two weeks … Read more
Canada’s trade deficit narrowed in April to Can$370 million (US$274 million), as exports to the United States hit a record high, the government statistical agency announced Friday. The results were worse than the Can$30 million deficit forecast by economists, following a Can$936 million deficit in March (revised from the Can$135 million deficit first reported). Canada … Read more
Some Economists have ruled out any significant impact on Ghana’s economy following the declining global oil prices. The decision by Oil Producing and Export Countries (OPEC) including Russia to cut down production due to increased supplies has resulted in a drop in prices. Contrary to the expectations of many investors in the oil and gas … Read more
Some Economists have ruled out any significant impact on Ghana’s economy following the declining global oil prices. The decision by Oil Producing and Export Countries (OPEC) including Russia to cut down production due to increased supplies has resulted in a drop in prices. Contrary to the expectations of many investors in the oil and gas … Read more
The price of oil has plummeted by about 5%, despite oil-producing nations agreeing to extend production cuts for a further nine months. Meeting in Vienna, energy ministers from both Opec and non-Opec countries agreed to maintain output curbs, due to expire next month, until March 2018. But investors had been hoping the oil producers would … Read more
Intra-African trade has the greatest potential for building sustainable economic development and integration, says African Economic Outlook (AEO) 2017. AEO, is a flagship report of the African Development Bank (AfDB) released in Ahmedabad, India, on its 52nd Annual Meetings and made available to the Ghana News Agency. Citing data produced by its economists and peer … Read more
The Bank of Ghana (BoG) has cut its benchmark interest rate by 100 basis points from 23.5 to 22.5 percent, citing a downward trend in inflation towards medium term targets. The BoG has set eight plus or minus two percentage points as its medium target and the central bank Governor, Dr Ernest Addison is confident … Read more
Even before he is sworn in as the Metropolitan Chief Executive for Ga-Central, Emmanuel Lamptey is promising massive development within his jurisdiction. Mr. Lamptey, who received a 100 percent endorsement from the assembly, says he plans to establish a water and oil extraction company within the municipality after he is sworn in. Speaking on the , … Read more
Gross sales volumes of crude oil in the first quarter of 2017 averaged approximately 132,500 barrels of oil per day (bopd). This comprises 82,500 bopd from the Jubilee fields and 50,000 bopd from Tweneboa-Ntomme-Enyenra (TEN) offshore oil fields. This is contained in the financial and operating results of Kosmos Energy for the first quarter of … Read more
The World Bank is confident of a rebound in Ghana’s economic growth this year. To this end, the Bank has projected a growth target of 6 to 7 percent for 2017. It is however expecting the figure to inch up higher in 2018 and subsequent years. The 6 to 7 percent growth target by the … Read more
The National Petroleum Authority (NPA) has announced measures to deal with the smuggling of petroleum products which is costing the nation about GH¢850 million. As part of the measures, exporters of petroleum products from the country are to pay the same taxes that local retailers and wholesalers of the products pay, but, unlike their local … Read more
Fighting illegal mining in Ghana (1) what is the position of the law? Galamsey is a national security issue that needs urgent, effective and a lasting solution A principal tool for the management of national mineral resources is a system of allocating rights to mining companies and persons to carry out minerals exploration and mining … Read more
The construction of a US$953million 400MW power plant, known as the Bridge Power, has commenced in Tema, with the first 200MW expected to come on-stream by close of this year. The project is expected to address the long-term energy requirements of Ghana by providing over 17percent of the country’s reliable generating capacity. The project, which … Read more
Imports from the Africa region to Ghana in 2016 amounted to 3.2 million metric tonnes. This represented an increase of 1.1 million metric tonnes or 57% increase over the 2015 figure. The Ghana Shippers Authority’s shipping quarter and outlook cites major items imported from the Africa regions as liquid bulk cargoes mainly crude oil, LPG … Read more
The Africa Centre for Energy Policy (ACEP) is in support of government’s plan to sell a majority of its stake in the Volta River Authority (VRA). Speaking to Citi News, the Executive Director of ACEP, Ben Boakye said this, specifically the sale of the thermal component of VRA will improve efficiency and accountability. “We have … Read more