The President, Nana Addo Dankwa Akufo-Addo, has described the Atuabo Gas Plant as a critical piece of infrastructure that will aid in the transformation of the Ghanaian economy, because “so much of the future of our country is bound up with this plant”. According to President Akufo-Addo, “If, indeed, we are going to succeed in … Read more
The Vice President of the policy think tank IMANI Ghana has described moves by the National Road Safety Commission to impose a compulsory towing levy on vehicle owners as senseless. In a skype interview on Tv3’s Midday Live, Kofi Bentil said, “So many different things cause accidents. Parked, abandoned vehicles are one of those things … Read more
US petroleum giants ExxonMobil and Chevron reported big jumps in second-quarter profits Friday, the latest boost from a recovery in oil prices that still feels shaky to many industry officials. Exxon’s profit for the quarter ending June 30 nearly doubled to $3.4 billion, while Chevron nabbed $1.5 billion in earnings, up from a $1.5 billion … Read more
ExxonMobil saw its second-quarter profits nearly double from the year-ago period due to higher oil prices and better refining margins, the company reported Friday. Net income jumped to $3.4 billion, up 97 percent from the same period of 2016 as oil prices ran solidly higher at about $45 to $53 a barrel. Higher oil prices … Read more
US Secretary of State on Wednesday Rex Tillerson denied suggestions that he plans to resign because of disagreement with the White House. “I’m not going anywhere,” Tillerson told reporters said as received Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani. Tillerson described his relationship with President Donald Trump as “good” and he would remain in … Read more
Sri Lanka deployed troops and police to distribute fuel Wednesday as striking petroleum workers protested over plans to sell off stakes in state-owned oil depots to India and China. The indefinite walkout by workers of the national oil company, backed by Sri Lanka’s main leftist opposition party, is in response to the sale of state … Read more
Top US diplomat Rex Tillerson does not plan to step down, the State Department said Tuesday, quashing reports citing differences with the White House. Since taking the helm of the State Department in February, the former ExxonMobil chair has come under fire for his ultra-low profile, and his plan to slash by 30 percent the … Read more
The US House of Representatives will vote Tuesday to slap new sanctions against Russia, a move that limits President Donald Trump’s ability to tinker with the penalties and has also triggered uproar in Moscow and Europe. The legislation is the result of a congressional compromise reached at the weekend and is aimed at punishing the … Read more
Anglo-Dutch energy giant Shell said Tuesday it has shut down a key crude supply pipeline in Nigeria’s restive south because of a leak. Shell subsidiary the Shell Petroleum Development Corporation of Nigeria Ltd (SPDC) said the Trans Niger Pipeline (TNP) was shut on July 21 at B-Dere in Ogoniland. “Efforts are ongoing for a joint … Read more
The US House of Representatives votes Tuesday to slap new sanctions against Russia, a move that limits President Donald Trump’s ability to tinker with the penalties and has also triggered uproar in Moscow and Europe. The legislation, which is the result of a congressional compromise reached at the weekend and is aimed at punishing the … Read more
The Chamber of Petroleum Consumers says it will go any length to ensure that there are no longer delays in the implementation of the new national fuel sulphur standards which have been missed three times. Following a 2016 BBC report that the quality of diesel shipped into Africa is toxic due to excessive sulphur content, the … Read more
Nigeria’s former oil minister faces charges only at home but her name crops up in a growing number of international cases that lift the lid on the scale of alleged corruption in the country’s oil sector. Since leaving office in 2015, Diezani Alison-Madueke has been implicated in bribery, fraud, misuse of public funds, and money … Read more
Former Power Minister, Dr Kwabena Donkor says he is battling with blood pressure and diabetes as a result of the pressure that came with his work. He told Lexis Bill on Joy FM’s Personality Profile Thursday, the nature of the work altered completely his lifestyle, including the time he slept. “It was a huge burden…you … Read more
Total Petroleum Ghana has been rewarded with two prestigious awards by the Chamber of Petroleum Consumers (COPEC) Ghana. The awards; Best Customer Service 2016 and Best Brand (Environment / Safety) 2016, were presented to Management by the Executive Director of COPEC, Duncan Amoah. The Management of Total Petroleum Ghana received these awards with excitement and … Read more
Indian oil-to-telecom conglomerate Reliance Industries’s first-quarter consolidated profit jumped 28 percent Thursday, pumped up by higher margins from its core oil refining business, the group said, beating analyst estimates. Consolidated net profit for the three months through June rose to 91.08 billion rupees ($1.4 billion), up from 71.13 billion rupees a year earlier, said the … Read more
The United States on Thursday hit oil giant ExxonMobil with a $2 million fine for violating Ukraine-related sanctions, at a time when Secretary of State Rex Tillerson was still in charge of the company. The Treasury Department said Exxon had business dealings with Igor Sechin, president of Russian state energy company Rosneft, who was blacklisted … Read more
A Nigerian court has ordered the temporary forfeiture a $37.5 million property belonging to the country’s ex-oil minister, with prosecutors alleging it was bought with ill-gotten funds. Judge Chuka Obiozor, sitting at the Federal High Court in Lagos, on Wednesday ordered the forfeiture of Diezani Alison-Madueke’s apartment complex on the city’s ultra-chic Banana Island. Banana … Read more
Nigeria is reviving its search for oil in the country’s conflict-riven northeast, aided by China and emboldened by gains made against Boko Haram. President Muhammadu Buhari’s government is exploring inland basins ranging from central Benue state to Boko Haram’s heartland in northeast Borno. Renewed attacks on oil and gas infrastructure in the southern Niger delta … Read more
Top newspaper the Philippine Daily Inquirer said Monday its owners are in talks to sell the publication, months after President Rodrigo Duterte threatened a shame campaign against them over critical coverage of his drug war. Marixi Prieto, chairwoman of the Inquirer Group of Companies, said the family had decided to quit the newspaper business and … Read more
SRI EMAS Limited (SEL), the company responsible for the complete subsea architecture installation including Structures, Flowlines, Umbilical and Risers for the FPSO Kufuor has expressed its joy at the commencement of production of oil at Cape Three Points. The installed hardware are the conduits through which the oil extracted from below the seabed is moved to the floating production, storage and offloading unit (FPSO) – John … Read more