The National Petroleum Authority (NPA) has said that per its calculations, the directive to Oil Marketing Companies to increase the Bulk Oil Storage and Transport (BOST) margin on petroleum products from 3 pesewas to 6 pesewas effective June 1 will not increase the cost of petroleum products beyond 0.5...
The COVID-19 pandemic has hit every part of the energy industry, but investments in renewables are set to drop the least, while renewable energy stocks have outperformed the broader market since U.S. stocks cratered in March.
Within the renewable sector, solar stocks have been on an uptrend for two years,...
Crude oil prices have slumped in 2020, with global benchmark hitting a 21-year low below US$16 per barrel in April. On Monday April 20, West Texas Intermediate (WTI) crude price fell by more than US$50 per barrel to close the day’s trading at negative US$30-plus; first time oil price...
...as it kicks against plans to turn Ghana Gas into aggregator
It is high time Ghana stopped the continuous political experimentation with gas resources, the Africa Centre for Energy Policy (ACEP) has said - insisting that government halts the proposed plan to make Ghana National Gas Company (GNGC) a gas...
By Raymond NUWORKPOR
During the first quarter of 2020, the world recorded slumps in prices of crude oil, exposing its vulnerability and volatility. Due to the coronavirus (COVID-19), crude oil prices plunged by 54.18 percent on average terms, starting the year on a high of US$66.74 to close the first...
Consumers will soon have to pay more than the current average pump price of GH¢4.01 per litre for fuel, the Institute of Energy Security (IES) has predicted, citing a surge in prices on the international market.
The energy think-tank believes that the national average price of Gh¢4.01 per litre for...
Total has called off a plan to acquire Occidental Petroleum’s assets in Ghana, which was conditional on completing the acquisition of Occidental’s other assets in Algeria, the French energy company said on Monday.
The deal was part of an US$8.8billion agreement reached between Total and Occidental to take over Anadarko’s...
Government has announced that its indebtedness to the Electricity Company of Ghana (ECG) amounting to some GH¢2.6 billion has been settled, and also revealed a credit balance of GH¢500million. The move is part of efforts to guarantee viability of the power distributor and ensure it has enough funds to...
Gold and silver are selling on a high, lifted by concerns over economic growth, a second wave of virus infections and simmering tensions between the U.S. and China.
Last week, gold headed back toward its peak in April l, when prices hit the highest since 2012. Silver , meanwhile jumped...