Prices of fuel are likely to see further drop in the first pricing window of July by about 2%. This is according to the Institute of Energy Security (IES). The Institute believes indicators such as the relative appreciation of the cedi against the dollar and the general reduction in the global price of crude oil … Read more
Ghana is likely to lose about 7 million cedis in revenue following attempts by the Bulk Oil Storage and Transportation Company Limited (BOST) to sell contaminated fuel to some oil marketing companies. Documents sighted by Citi Business News indicate that BOST has agreed to sell about 5 million litres of contaminated fuel to Movenpinna Energy. … Read more
The Institute for Energy Security (IES) has predicted a reduction in fuel prices at the pumps in the second fuel pricing window beginning June 16. Principal Research Analyst Richmond Rockson explained on Thursday June 15 that the forecast was based on consideration of the market indicators “like the Brent crude price which has dropped by … Read more
The Institute of Energy Security (IES) has predicted an average drop of 1.03% percent in fuel prices for the second pricing window. According to IES, current developments across the globe indicate that fuel prices will drop slightly for the next pricing window in May. World Oil Market Indices for Benchmark Brent crude prices have been … Read more
Fuel prices will remain fairly stable in the first pricing window in May. This is a prediction by the Institute for Energy Security (IES). According to the institute, the slight fall of Brent crude price, stability of the fuel stock levels among other factors will ensure the stability of fuel prices. The IES further hints … Read more
The Institute for Energy Security (IES) has predicted a further drop of fuel prices by about 2% in the 1st pricing window of April. The Institute believes the drop could be attributed to the removal of Excise Levy and the review of the Special Petroleum tax which has been moved from 17.5% to 15% by … Read more
The Institute for Energy Sector has predicted that prices of gasoline (Petrol) and gasoil (Diesel) at the pump are expected to fall by at least 3% in the last pricing-window in March 2017. In a press released signed by Richmond Rockson, Principal Research Analyst, Petroleum Unit of the IES, the increase in prices during the … Read more
The Institute of Energy Security (IES) is predicting a further increase in fuel prices in the first pricing window of March due to the constant depreciation of the cedi. The IES says the depreciation of the cedi is already threatening the stability of fuel prices. The Institute also believes the cedi played a part in … Read more
The Institute of Energy Security (IES) has predicted a percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the next pricing window will go up. “If you look at the crude oil price at the world market, the cedi dollar ratio, … Read more
African Center Energy Policy (ACEP) has dismissed claims that the country will soon be experiencing acute fuel shortage following the shutdown of the Tema Oil Refinery (TOR). In exclusive interview with GhanaWeb, Head of Policy Unit and Energy Policy Advisor at ACEP, Dr. Ishmael Ackah, disclosed that TOR does not have significant grip over the … Read more
The National Petroleum Authority (NPA) has asked the public to disregard talk of a possible fuel shortage in the next few days, assuring that there is enough fuel for consumers. “We, therefore, encourage the media and the general public to disregard any projections being put out in the public domain as merely speculative without any … Read more
The Institute for Energy Security (IES) has warned of an impending shortage of petroleum products in the coming weeks. This is due to the shutdown of the Tema Oil Refinery and the congestion at the ports which has compelled many oil companies to postpone their imports. A statement released on Tuesday, February 14 by Richmond … Read more
Fuel supplies are expected to be seriously disrupted due to the unanticipated shutdown of the Tema Oil Refinery (TOR). The situation is expected to be aggravated by port congestion facing the oil companies, which is compelling them to postpone their import and export programmes; amid acute discharge and loading constraints. A release issued in Accra … Read more
The Institute of Energy Security (IES) wants the National Petroleum Authority (NPA) to be swift in averting what it describes as an imminent fuel shortage in the next two weeks. The development follows the low levels of fuel stocks by the Tema Oil Refinery and the Bulk Oil Storage and Transportation (BOST). The Institute also … Read more
Operatives of the Bureau of National Investigations (BNI) have picked up 10 workers of Tema Oil Refinery (TOR) for questioning over a purported arson. They are supposed to assist the BNI to unravel the circumstance under which several barrels of oil spilled from the refinery into some drains at Tema that caused the explosion of … Read more
Energy think tank, Institute for Energy Security (IES), says a recent explosion at the Tema Oil Refinery (TOR) is a harbinger for challenges in the energy sector. IES also says its observation of the refinery suggests that non-adherence to safety protocol and standard operating procedures, lack of adequate supervision, inexperience operating and production management personnel … Read more
The Institute for Energy Security (IES) have indicated that the country might be plunged into a phase of fuel shortage if urgent measures are not taken to restore the fuel production capacity of the Tema Oil refinery following yesterday’s explosion. According to them, the explosion of a furnace at the refinery which was supporting fuel … Read more
The Chief Executive Officer of the Tema Oil Refinery (TOR), Mr Isaac Osei, has allayed fears of a possible fuel shortage following an explosion at the facility. A Principal Research Analyst at the Institute for Energy Security (IES), Richmond Rockson, had suggested that the explosion of the furnace at the Crude Distillation Unit (CDU) of … 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