Tag Archives: OIL

The Oil Palm Development Association of Ghana (OPDAG) has said incidents of oil palm products-smuggling into the country is intensifying despite several complaints made to designated authorities. President-OPDAG, Samuel Avaala, told B&FT that smugglers have been using unapproved routes while others take advantage of the ECOWAS Trade Liberalisation Scheme to …

Cocaine is set to become Colombia’s main export, overtaking oil, according to Bloomberg Economics. The Colombian government is taking a more lenient policy regarding drugs, thus production of the drug is expanding. According to Bloomberg Economics, 2022 exports were worth an estimated $18.2 billion. Oil exports posted a drop of …

Nigeria’s state-owned oil company says an oil tanker carrying 800,000 litres of stolen crude has been intercepted offshore while heading to Cameroon. It said the vessel would be destroyed as a deterrent. Nigeria’s state-owned oil firm said the oil had been stolen from a well in the south-western state of …

The Tema Oil Refinery has been reported to be leased to a group called Torentco Asset Management (TAM) for 6 years at $22 million. The group is allowed to refine up to 8 million barrels of oil a year by paying $1 million every year as rent. However, social media users have …

The National Petroleum Authority (NPA) has reported the confiscation of a substantial amount of smuggled crude oil and diesel in the Western Region between January and April 2023. During separate operations conducted by the Ghana Navy and Marine Police, a total of 108,000 litres of diesel and 73,000 litres of …

The Dormaahene, Osagyefo Oseadeeyo Agyemang Badu II, broke protocol during a speech at the Annual Convention of the Council of Bono, Bono East and Ahafo Associations of Continental North America (COBAANA), to express some of the misgivings he had to Dr Mahamudu Bawumia. Osagyefo Badu II could not hold his displeasure …

The Managing Director of Renaizance Oil Limited, an unlicensed Oil Marketing Company, David Aseye Tay, has been found guilty and convicted of 23 charges of defrauding by false pretense amounting to over GHc27.9 million. Tay, was convicted after two years of full trial by the Criminal Division of High Court …

     Crude oil production has been on the decline at an average of 10 per cent per annum for three consecutive years, the Public Interest and Accountability Committee (PIAC) has observed. It explained that a volume of 71,439,585 barrels (bbls) was produced in 2019, but declined to 66,926,806 bbls in …

The Head of Ghana’s Economic Management Team, Vice President Dr Mahamudu Bawumia on Wednesday, March 15, 2023, took a swipe at critics of the government’s Gold-for-oil policy. Touting the success of the policy which is currently in its third month of implementation, the vice president said the country will witness more …

A man believed to be in his late twenties in a Fire Service uniform has been nabbed and beaten to pulp for stealing palm oil and palm kernel at Abeadze Towoboase in the Central Region. The suspect was on Wednesday, March 15, 2023 dawn caught with over ten gallons of …