Dr Matthew Opoku Prempeh Archives - Page 2 of 3

26 Sep

Parliament Sits On GNPC’s US$620m LITASCO Facility

wontumionlineBusinessDr Matthew Opoku Prempeh, GNPC

The Ministry of Energy has disclosed that the proposed US$620million Ghana National Petroleum Corporation loan from Lukoil International Trading and Supply Company (LITASCO) SA will be laid before parliament for approval next month. According to the ministry, the GNPC is seeking the funds and has so far obtained board approval, upon which the sector ministry and the Ministry of Finance issued a ‘no objection’ and gave their go-ahead – in line with directives of the Public Financial Management Act (PFMA). The request, a statement from the ministry added, will be presented to the lawmaking body in mid-October when parliament reconvenes.…

22 Sep

No Wrongdoing In ‘GNPC-LITASCO’ Phase 6 Re-Financing Deal – Energy Ministry To Minority

wontumionlineBusinessDr Matthew Opoku Prempeh

The Ministry of Energy has refuted claims made by the Minority in Parliament that the ‘GNPC-LITASCO’ re-financing arrangement is being done in secrecy without parliamentary approval. This comes after the Ranking Member on Parliament’s Mines and Energy Committee, John Jinapor in a statement alleged that government seeks to contract the facility using GNPC without the necessary approvals. But the Ministry of Energy in a rebuttal issued on September 22, 2023 described the move the Minority "as a calculated attempt to sully the reputation of government" for what they say is political reasons. It clarified that the GNPC-LITASCO’ re-financing arrangement has gone through various…

18 Sep

Support Developing Countries To Meet Net-Zero Targets – Energy Minister Urges

wontumionlineBusinessDr Matthew Opoku Prempeh

Energy Minister, Dr. Matthew Opoku Prempeh is urging developed countries to support developing countries meet their net-zero targets. This, according to the Minister can be done by these countries redeeming funding pledges they made to support developing countries towards the reduction of GHG emissions. The Minister made this call when he addressed a high-level SDG Summit Action Weekend on the theme “From Billions to Trillions -Scaling-Up Energy Compacts to Deliver n SDG7” on the sidelines of the United Nations General Assembly in New York, USA on Sunday September 17, 2023. Dr. Prempeh said developing countries face the challenge of achieving the SDG7…

28 Aug

Energy Ministry Debunks IMANI, ACEP Claims Of Wrongdoing In Genser-GNPC Deal

wontumionlineBusinessDr Matthew Opoku Prempeh

The Ministry of Energy has debunked claims in a report authored by the Africa Centre for Energy Policy (ACEP) and IMANI Center for Policy & Education regarding an enquiry report by the Parliamentary Select Committee on Mines and Energy pertaining to the Gas Sales Agreement between the Ghana National Petroleum Corporation and Genser Energy Ghana Limited. ACEP and IMANI in a joint report, among others accused the Energy Minister, Dr. Matthew Opoku Prempeh for inconsistencies, when he appeared before the Parliament’s Select Committee on November 24, 2022. But the Ministry in a statement issued on August 28, 2023 rebutted the claims in the report…

08 Jun

Ghana’s Energy Security Remains Our Topmost Priority – Energy Minister To Investors In London

wontumionlineBusinessDr Matthew Opoku Prempeh

Energy Minister, Dr. Matthew Opoku Prempeh says Ghana’s energy security in the medium to long term is the topmost priority of the government. This he said, is the reason he is leading efforts at ensuring that the power and petroleum sectors of the country are strengthened with the relevant legal and regulatory framework. Dr. Prempeh made this assertion whilst contributing to a panel discussion at the 3rd Ghana Investment and Opportunity Summit (GHIOS) 2023 in London on Wednesday, 7th June 2023 on the topic “The future of Energy in Ghana- exploring the energy mix and the case for renewable energy”.…

29 May

Energy Ministry Flags Aker’s US$1.7 Billion FPSO Bill

wontumionlineBusinessAker Energy Ghana Limited, Dr Matthew Opoku Prempeh, Energy Ministry, Kadijah Amoah

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 surrogates and Ghanaian collaborators across segments of our society to amass ridiculous benefits from the Pecan field development. “Aker Energy purchased an FPSO for $35 million. In their Plan of Development submitted to the Government, Aker’s previous owners…

23 May

PetroSa Deal Is Not In The Interest Of Ghana – NAPO Tells Freddie Blay, GNPC

wontumionlineBusinessDr Matthew Opoku Prempeh, Freddie Blay, GNPC, PetroSA

The Minister for Energy, Dr. Matthew Opoku Prempeh, alias NAPO, has called out the Board Chairman of the Ghana National Petroleum Corporation (GNPC), Freddie Blay, over the PetroSA deal, which seeks to offload some of Ghana's oil interests to the South African National Company (PetroSA). According to The Chronicle newspaper, NAPO, in a letter to Freddie Blay, which it sighted, accused the former New Patriotic Party (NPP) chairman of pushing for the deal despite a government directive for it to cease. The energy minister, who is also the member of parliament for Manhyia South, told Blay that it is scandalous for him to…

20 Apr

$2.5 Million Worth Of Fuel Condensates For TOR Gone Missing – NAPO

wontumionlineBusiness, NewsDr Matthew Opoku Prempeh, fuel, Minister for Energy, TOR

The Minister for Energy, Dr Matthew Opoku Prempeh has revealed that crude condensation of about $2.5m allocated to the Tema Oil Refinery is reportedly missing. The minister, widely known as NAPO, speaking to the media on April 20, 2023 said that the fund was part of a business opportunity for the refinery to produce premix fuel from condensates from Ghana Gas. “I gave TOR a new business opportunity in the premix fuel market that all the condensate from Ghana Gas should be used for making premix fuel. The last time I heard, over $2.5 million dollars worth of condensate had gone missing…

08 Apr

Ghana Signs New Power Purchase Agreement

wontumionlineBusinessDr Matthew Opoku Prempeh, Minister of Energy

Minister of Energy, Dr. Matthew Opoku Prempeh has disclosed that the Electricity Company of Ghana has signed a power purchase agreement (PPA) with one AKSA Energy Company Limited (AECL). In a Facebook post sighted by GhanaWeb Business, the agreement forms part of efforts to ensure power grid stability and reliability, especially in the middle belts of Ghana. “Our efforts at ensuring power supply reliability in the overall context of our socio-economic development continues on daily basis, anchored on the dictates of good governance.” “In my remarks, I reminded the two parties of the essence of this morning’s exercise and thus, charged the ECG to…

14 Mar

Opoku Prempeh Strongly Pitches For Natural Gas As Ghana’s Transition Fuel In Barcelona

wontumionlineBusinessDr Matthew Opoku Prempeh

The Minister of Energy, Dr. Matthew Opoku Prempeh, has asked investors and decision-makers gathered at the North Africa and Europe Energy Exhibition and Conference (NAEPEC) to explore several opportunities in Ghana’s energy sector for the mutual benefit of both Ghana and the investors. Speaking as a keynote speaker on the topic: “Ghana’s current Energy Sector initiatives, the global energy transition, and opportunities available in Ghana’s near–term initiatives and project”, the Minister said Ghana, and for that matter, Africa has suddenly become a new hotspot for oil and gas activities. He added that at the same time, they have to compete for…