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News Review

News Review for 4 April 2018

  • SOURCE: Reportingoilandgas | qwesa2big
  • Wednesday is here again and we trust that you are working assiduously to achieve your dreams. Once again,, your number one extractive portal brings you another exciting news review in the industry in Ghana.

    In the first edition, Myjoyonline reports that an event to honour Mr. Alfred Obeng, Managing Director of BOST, has been called off. The ceremony was initially scheduled for April 7, 2018, but a statement by the Sefwi Akontombra Member of Parliament (MP) said it has been postponed indefinitely. Read more here

    In addition, the Gold Street Business and myjoyonline report on oil revenue losses due Ghana. The revelation was made by the policy think tank, Centre for Natural Resources and Environmental Management (CNREM). The report was captured in a formal complaint filed under the Whistleblowers Act 2006, Act 720 by the centre to Ghana Revenue Authority on impropriety against the contractor party for under-payment of royalties and corporate taxes due Ghana in the sum of US$902.45 million in their six years of operations at the Jubilee Fields. Read more here

    The backlash between BOST and COPEC continue unabated. COPEC is dismissing claims of the existence of a cartel within the Bulk Oil Storage and Transportation Company (BOST) by the Junior Staff and Senior Staff unions of the BOST. The Union, which made this claim, called on government to move against the supposed cartel sabotaging fuel prices. They are therefore urging the government to pay attention to them and ignore persons within the company who have formed a great cartel that dominates the industry. Read more here

    Adomfmonline also reports on the call on the staff to name saboteurs hampering the work of BOST. This came in the wake of claims by workers of the existence of cartels within BOST who are sabotaging fuel prices in the country. However, some industry players have waded into the war by challenging the staff to name members of the supposed cartel manipulating fuel prices in Ghana. The junior and senior staff unions of the BOST in a statement urged government to concentrate on dealing severely with a group of individuals who have formed a cartel in the oil sector and are driving prices of petroleum products in the country. The associations said this is the only means to help the government to continuously keep the prices of oil down in the country. Read more here


    Other stories making headlines in the newspapers include:

    Page 3 “Gold mining sees increased activity and business reforms” [B&FT]

    Page 24 “Kosmos innovation centre hosts investor engagement training with agric SME’s” [B&FT]

    Page 25 “Gov’t waits on Exxonmobil to find local partner” [B&FT]

    Keep visiting for more news, updates, opportunities and events in the extractive sector.






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