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Oil and Gas Online News Review: A daily service by Penplusbytes Extractive team: – 7th June 2017

  • SOURCE: | qwesa2big
  • The Ministry of Finance rounded the extractive sector yesterday with a press releases of Ghana’s Petroleum Receipts and Distribution Report for 1st Quarter of 2017. The report published in the country’s state newspaper, Daily Graphic disclosed a total of 11,733,092 barrels of crude as liftings from both Jubilee and TEN fields.

    It also writes a total gross receipts from the total liftings ($103.7m constituting royalties, carried and participating interest and transfer to GNPC including equity financing cost and net carried & participating interest),of which the government of Ghana received $67.3m.

    Today, the Business and Financial times( started the day reporting, ‘Demand accountability in oil revenue-ACEP’’. The Paper disclosed the NGO’s readiness to help citizens combat corruption and ensure accountability of Ghana’s hydrocarbon. It writes ‘The African Centre for Energy Policy (ACEP), a policy think – tank on Thursday called on Ghanaians to demand accountability on oil revenue funded projects in local communities to minimise corruption in the sector’.

    Pulse Online also reports ‘Ghana rakes $94 million from crude exports’. It further writes ‘according to the Finance Ministry in Ghana Petroleum receipts report for January to March showed that government made $94 million from crude exports for the first quarter of 2’. The funds were generated from crude exported by the Ghana group as well as royalty payments from other partners on the Jubilee and Tweneboa Enyera Ntomme (TEN) oil fields.

    Again, PulseOnline on Wednesday reports ‘Nana Addo to launch Sankofa-Gye Nyame oil field’. It explains ‘For the first time this July, the ENI Sankofa-Gye Nyame oil field would officially be launched for producing oil for the country’. The oil field is estimated to produce 50,000 barrels of oil per day after the start of commercial production, and start producing gas in the second quarter of 2018.

    Meanwhile, Myjoyonline has also disclosed the intention of energy minister, Honorable Boakye Agyako and the Government to strictly check illegal fuel smugglers.  It says “Gov’t moves to check fuel smuggling with tracking devices’’.This it explains the illicit activities of fuel smugglers are said to be costing the state about GHȻ850 million annually.

    Elsewhere, the Daily Graphic, reports National Petroleum Authority’s initiative put in place to ensure safety. It writes ‘NPA to assess filling stations to ensure safety’. The initiative will allow the newly commissioned Risk Assessment team of the NPA to boldly and meticulously unearth lapses that exist in the organisational structure of oil marketing companies (OMCs).

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