Business

The Ministry of Energy has a US$1.7 billion bill for a Floating Oil Production Storage Offloading (FPSO) vessel which the Norwegian company Aker Energy Ghana Limited, purchased for US$35 million as part of a Plan of Development (PoD) to the government of Ghana. “Even though Aker has sold their interest in Ghana, they are scheming to stay on the Pecan development through …

The Independent Power Producers, Distributors, and Bulk Consumers are threatening to cut power supply to the national grid by the end of June 2023 if the government fails to settle its debt. This could create a huge power shortfall as the IPPs control over 65% of the available thermal generation capacity in the country. It is indicated that as of April 2023, the …

Former President of Liberia and Former ECOWAS Chair, Ellen Johnson Sirleaf has urged African countries to prioritize the use of data in its policy making as she says it is critical to Africa’s development. “In Africa, the need for timely data has become increasingly important in recent years. With the continent experiencing significant economic growth and development, data has become …

The Deputy Minister of Lands and Natural Resources, Benito Owusu-Bio, has revealed that the government has approved an amount of GH₵2.5 million for the 2023 Green Ghana tree planting. The Deputy Minister mentioned this at a press conference at the ministry on the government’s preparation towards the 2023 Green Ghana Day celebration. According to Mr. Owuau-Bio, the Forestry Commission through …

Data from the Public Interest and Accountability Committee (PIAC) shows that Ghana’s total petroleum revenue between 2011 and 2022 amounted to US$8.8 billion, with the year 2022 recording the highest realized petroleum revenues in the Petroleum Holding Fund (PHF). The total petroleum revenue in 2022 is the highest for a single year since petroleum production began in Ghana, with a …

Prices of petroleum products have shot up at the pumps this Monday April 17, 2023. This is the first increase since the introduction of the much-touted ‘Gold for Oil’ policy. Leading Oil Marketing Companies (OMCs), GOIL, Total and Shell have all increased prices of petrol and diesel. GOIL is selling petrol at ¢13.10 per litre and diesel at ¢12.99 per …