Petroleum Archives - Wontumi Online

21 Apr

Total Petroleum Revenue Hits Highest For First Time In 2022 – PIAC

wontumionlineBusinessPetroleum, PIAC

The total revenue from petroleum products recorded its highest for a single year since the beginning of petroleum production in Ghana. Ghana made $1.43 billion from petroleum production in 2022 alone, due to happenings on the international market as a result of the Russia-Ukraine conflict. This was contained in the Public Interest and Accountability Committee (PIAC)’s 2022 annual report, launched on April 20, 2022. “Crude oil production has been declining for three consecutive years. A volume of 71,439,585 barrels was produced in 2019, but declined to 66,926,806 barrels in 2020, representing 6.32 percent. It further declined to 55,050,391 barrels in…

We’ll Reduce Fares If Fuel Prices Come Down In The Next Pricing Window – GPRTU

wontumionlineNewsDiesel, fuel prices, GPRTU, Petroleum, Pricing window

The Ghana Private Road Transport Union (GPRTU), says it will reduce fares should the prices of fuel come down in the next pricing window. According to the Union, should that happen, they will not hesitate to reduce transport fares. However, what they will not do is to rush and reduce fares and be hit with hikes in fuel prices. The General Secretary of GPRTU, Mr Godfred Abulbire has said. According to him, a lot of considerations would have to be looked at before reducing transport fares. “For now, we will not rush and reduce fares, we need to observe things…

Demand For Petroleum Products Grows 41%

wontumionlineBusinessNPA, Petroleum

Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid says demand for petroleum products in the country has seen significant growth from an average of 7 to 41 percent in 2021. According to him, the unprecedented surge in consumption is as result of various technological based schemes and interventions being implemented by the downstream regulator to curb illicit fuel activities over the past few months. Dr. Abdul-Hamid said this at the official opening of the 5th Edition of the Ghana International Petroleum Conference (GhIPCon), in Accra on Wednesday, 28th September 2022, The 3-day conference is on the…