IES

03 Nov

Bring Back TOR To Refine And Sell Fuel At Cheaper Prices – IES To Akufo-Addo Again

wontumionlineBusinessIES, TOR

The Institute for Energy Security (IES) is appealing once again to President Akufo-Addo to bring back Tema Oil Refinery in the shortest possible time to refine and sell petroleum products at cheaper prices. In a statement, it expressed worry that an oil producing country with a refinery capacity of 45,000 barrels per stream day would have it top government officials abandon its domestic competitive advantage, and rather seek to import refined petroleum product elsewhere, in the name of reliability and affordability. This is coming after President Akufo-Addo announced that the government will be looking for reliable and regular sources of…

22 Sep

Ghana Not Benefiting From Global Fuel Price Drop – IES

wontumionlineBusinessfuel, IES, Institute of energy security

The Institute of Energy Security (IES) is predicting an insignificant drop in fuel prices in the Ghanaian market despite the drop in global fuel prices. According to the IES this prediction will be so if the cedi remains weak against major trading currencies. Crude Oil price has fallen by 4 per cent in recent weeks but unfortunately, the cedi continues to struggle on the forex market as it closed trading close to 10 Cedis per Dollar. Executive Director for the Institute of Energy Security, Nana Amoasi III, said although fuel prices may reduce, the instability of the Cedi is set…