Concerned members of the Greater Accra Regional Canoe Fishermen Association (GARCFA) of Sege in the Ada West District, are boiling with anger over attacks on them by a vigilante group within Prampram in the Greater Accra Region. The aggrieved fisher-folks clad in red appealed to President Nana Addo Dankwa Akufo-Addo to save them from the … Read more
European and US stocks scored solid gains Wednesday, with the Dow ending at a fresh record, as investors welcomed congressional testimony by Federal Reserve Chair Janet Yellen reiterating the pledge to gradual interest rate increases. Sentiment also got a boost from higher oil prices following US inventory data showing a big drop in petroleum supplies. … Read more
Former Brazilian President Luiz Inacio Lula da Silva has been convicted of corruption charges and sentenced to nine and a half years in prison. The judge ruled he could remain free pending an appeal. Lula has rejected claims that he received an apartment as a bribe in a corruption scandal linked to state oil company … Read more
The rapid pace of global warming and ice melting at the poles have underscored the “critical” need for the United States to build four new polar icebreaker ships, US officials said Tuesday. The cost for each of the new ships is estimated to be $791 million, said the report from the National Academies of Sciences, … Read more
Total and Qatar Petroleum on Tuesday unveiled a 25-year joint venture to develop the vast offshore Al-Shaheen oil field. The firms’ bosses told a Doha press conference that their North Oil Company would operate the field from July 14. “Joining Al-Shaheen is a major milestone and accomplishment in the long history of the group’s partnership … Read more
Oil and gas will remain central to the world’s supply of energy for decades to come, despite a surge of interest in renewables, the chief executive of giant producer Saudi Aramco Amin Nasser said Monday. Oil major bosses and energy ministers are meeting at the World Petroleum Congress in Istanbul, with the outlook clouded by … Read more
More than a month since the start of the diplomatic crisis gripping the Gulf, hopes of a swift resolution seem as remote as a summer downpour in the desert. Both sides — the group of Saudi-led allies against Qatar — seem as entrenched in their positions as ever and as unlikely to find a face-saving … Read more
President Nana Akufo-Addo, as well as other power stakeholders have revealed that the newly commissioned Floating Production Storage and Offloading Vessel (FPSO) named after former President John Agyekum Kufuor holds a lot of bright promises for the ailing Ghana economy. The FPSO Kufuor was commissioned by President Nana Addo on Thursday, 6th July, 2017 in a … Read more
Chief Executive Officer of Ghana National Petroleum Commission (GNPC), Dr. Kofi Kodua Sarpong has hinted of plans by GNPC to venture into the production of fertilizer, ethanol and other petrol chemical products. The reposition of GNPC , he said, will need the participation of private investors in the implementation of these ventures. He disclosed this … Read more
President Nana Akufo-Addo has commissioned Ghana’s third oil Floating Production Storage and Offloading (FPSO) vessel named after former President John Agyekum Kufuor. Watched on by a line-up of top government officials and Italian managers of the vessel, the President turned the valve wearing a smile that meant – let the cash flow. The FPSO will … Read more
The President ,Nana Akufo-Addo has commissioned the Floating Production Storage and Offloading Vessel (FPSO) John Agyekum Kufuor to formally kick-start the production of oil in commercial quantities from the Sankofa Gye-Nyame Fields. The symbolic ceremony was done offshore by the President turning the production valve of the FPSO and opening a Subsea Well Choke. A … Read more
Saudi Arabia on Thursday said it had begun taxing foreigners working in the private sector as part of fiscal reforms aimed at coping with a drop in oil revenues. Long a tax-free haven for expatriates, the Saudi economy was dealt a serious blow in 2014 when global crude prices plummeted. The kingdom, the world’s largest … Read more
President Nana Addo Dankwa Akufo-Addo is expected to turn the valve on the Floating Production Storage and Offloading (FPSO) barge – named after former president John Agyekum Kufuor – offshore Cape Three Points on Thursday. The ceremonial turning of valve is to mark the commencement of commercial oil exploration from Sankofa Gye Nyame Fields. A … Read more
Asian energy firms sank Thursday following a plunge in oil prices while equity traders remained on edge after North Korea’s latest missile test and warnings from the US it would use force to deal with the nuclear-armed state. Crude fell around four percent Wednesday on renewed concerns about a global supply glut that overshadowed data … Read more
Nigerian lawmakers on Wednesday said former president Goodluck Jonathan should give evidence at an inquiry into an oil block deal that has become a shorthand for endemic graft. The probe centres on the $1.3 billion sale of OPL 245, an oil block estimated to hold nine billion barrels of crude, to petroleum giants Eni and … Read more
Arab states that have cut ties with Qatar meet in Cairo on Wednesday to discuss their next move in the Gulf diplomatic crisis, after Doha said their demands were impossible to meet. The foreign ministers of Saudi Arabia, the United Arab Emirates, Bahrain and Egypt are holding the talks a month after they severed ties … Read more
German car giant Volkswagen said Tuesday it was returning to the Iranian market for the first time in 17 years due to the lifting of economic sanctions. The company, maker of brands including VW, Porsche, Skoda and Seat, said it would resume selling cars in Iran from August after signing a deal with local importer … Read more
Under-pressure Qatar vowed a major boost to gas production Tuesday as a deadline approached for Doha to meet the demands of Arab countries engaged in a blockade against it. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt — who accuse Qatar of supporting extremism — gave Doha an extra 48 hours to address their … Read more
Energy-rich Qatar said on Tuesday it plans to increase natural gas production by 30 percent over the next several years, as it faces pressure from its neighbours in a diplomatic crisis. Saad Sherida Al-Kaabi, the head of Qatar Petroleum, told a press conference that the emirate intends to raise production to 100 million tonnes of … Read more
When Iran signed its landmark deal with world powers in 2015, curbing its nuclear programme in exchange for sanctions relief, many expected an investment gold rush. But despite thousands of business delegates flooding into Tehran from all over Europe, Asia and beyond, big deals have been slow to emerge. That makes Monday’s agreement with French … Read more