The global fall in prices of crude has slowed down operations of businesses in the oil and gas sector in Sekondi-Takoradi Metropolis. The economic situation in the Western Regional capital improved largely due to the discovery of oil and gas in 2007 as businesses and multinationals flocked to the city. But the sharp downturn in … Read more
The global fall in prices of crude has slowed down operations of businesses in the oil and gas sector in Sekondi-Takoradi Metropolis. The economic situation in the Western Regional capital improved largely due to the discovery of oil and gas in 2007 as businesses and multinationals flocked to the city. But the sharp downturn in … Read more
Brazil’s state oil giant Petrobras has reported a massive loss for the third quarter of its financial year. Analysts had been expecting the firm to make a profit, but instead it lost 16bn reais ($4.8bn; £3.86bn). Petrobras said low oil prices had forced it to cut the value of oil fields and other assets. The … Read more
The presidential candidate of the Convention People’s Party (CPP) has threatened that governance under his watch will see the repeal of the Petroleum and Exploration Law. Addressing party supporters and sympathizers at the manifesto launch of the cockerel family at the Ghana Academy of Arts and Science in Accra on Saturday, Mr. Greestreet said his … Read more
Despite conflicts and instability in some parts, Africa’s fast growth and development, at least during the past decade, has attracted several external countries mainly from Asian region, European Union (EU) and the United States. In this special interview, David Shinn, an Adjunct Professor in the Elliott School of International Affairs, a former U. S. Ambassador … Read more
The National Patriotic Party (NPP) launched its 2016 manifesto in Accra, this Sunday and a team of fact-checkers subjected five claims made by the party’s Vice Presidential candidate, Dr Mahamud Bawumia to scrutiny. It was found that only one of them was entirely true. Two claims were found to be true but misleading, whiles one … Read more
Participants at a policy dialogue on the utilisation of oil revenues on selected priority areas have urged the government to ensure the optimal use of the Annual Budget Funding Amount (ABFA) to achieve the needed socio-economic development. The participants, drawn from different Civil Society Organisations (CSOs) with interest in the oil sector said, for instance, … Read more
Ghana’s economic growth slowed to 2.5 percent in the second quarter compared with a year earlier, provisional official data showed on Wednesday, due mainly to a temporary halt in oil production. Ghana saw sustained GDP growth of above 8 percent until 2013, helped by exports of gold, cocoa and oil, but then slumped because of … Read more
Government has been charged to spend oil revenues responsibly at all times to enable it to mitigate the negative impact a slowdown in commodity prices may have on the economy as it is currently. This comes as most African countries like Ghana are said to the hardest-hit any time there are uncertainties of oil prices … Read more
Ghanaians did not have candy and butter running down their taps during the eight-year administration of President John Kufuor and the New Patriotic Party, the governing National Democratic Congress’ Campaign Spokesperson Joyce Bawa Mogtari has said. “I don’t remember, as I always say, that under NPP for eight years, Ghana was actually a paradise,” she … Read more
The vice-presidential nominee of the main opposition New Patriotic Party (NPP), Dr Mahamudu Bawumia is actually the flag bearer of his party rather than Nana Akufo-Addo, the governing National Democratic Congress’ Campaign Spokesperson, Joyce Bawah-Mogtari, has said. “…I believe that he [Dr Bawumia] is actually the flag bearer of the New Patriotic Party,” Mrs Bawa-Mogtari … Read more
There was pandemonium during the broadcasting of the Joy News flagship programme dubbed, “The Ballot Box,” in the Sekondi-Takoradi metropolis last Friday evening when supporters of the ruling National Democratic Congress (NDC) and the New Patriotic Party (NPP) nearly traded blows, bringing an abrupt end to the well-attended programme. That was during an open forum … Read more
The question explicit in the title of this article is directed at the political parties aspiring to govern this country. We are by no means ignorant of the fact that nations are infinitely more complex than businesses. Nor are we by ‘business plan’ referring to those multi-year ‘development plans’ favoured by certain ‘political visionaries’ ONCE … Read more
Abuja (AFP) – Nigeria’s economy nosedived into a recession official data revealed Wednesday with oil production hammered by militant attacks on pipelines and foreign investment at a “record” low. Output in the three months to the end of June was -2.06 percent with the oil sector reporting a double-digit decline following a wave of attacks … Read more
Abuja (AFP) – Nigeria’s economy nosedived into a recession, official data showed Wednesday, with oil production hammered by militant attacks on pipelines and foreign investment at a “record” low. Output in the three months to the end of June was -2.1 percent with the oil sector reporting a double-digit decline following a wave of attacks … Read more
After more than six months marked plunging revenue caused by attacks on oil pipelines in the Niger Delta and ballooning inflation, the Federal Government said on Wednesday said it was expecting a better second half of the year. The government’s optimism is in spite of a forecast by the International Monetary Fund that the country’s … Read more
Libreville (AFP) – Gabon braced for possible violence Tuesday as the country awaited official results of a bitterly disputed presidential election, with both frontrunners claiming victory in a vote condemned by EU observers as lacking transparency. The interior minister is due to announce later Tuesday whether incumbent Ali Bongo has won a new term or … Read more
Libreville (AFP) – Security forces deployed on the deserted streets of Libreville Tuesday as Gabon awaited official results of the weekend presidential election that both the incumbent Ali Bongo and his main rival already claim to have won. The interior minister said he would announce official results after the Cenap election commission meets at around … Read more
Founder of UT Holdings, Prince Kofi Amoabeng, has advised the banking sector to be cautious in lending to importers of oil and gas describing the sector as risky. Banks are having to deal with non-performing loans partly due to the failure by importers including state-owned Volta River Authority (VRA) and Tema Oil Refinery (TOR) as … Read more
The people of Gabon went to the polls on Saturday to decide whether President Ali Bongo will remain in office or be unseated by a career diplomat and close associate of his late father, who ran the country for 41 years. The election takes place in a climate of persistent social unrest driven in large … Read more