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The Gold for Oil policy which started in earnest at the beginning of this year 2023 appears to be fading fast with the passage of time. Readers will recall all the brouhaha that greeted the gold for oil initiative from the Minority caucus in parliament for lack of transparency in…
All Oil Marketing Companies (OMCs) that purchase petroleum products under the Government’s Gold for Oil (G40) Programme will be required to sign an undertaking to guarantee a reduction in their prices at the pumps. The decision, according to the National Petroleum Authority (NPA) was intended to ensure that consumers benefited…
The price of fuel is expected to fall by GHC1 in the coming days as Ghana prepares to take delivery of four oil consignments through the gold-for-oil programme. This was announced by the Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST), Mr Edwin Provencal. He was…
The New Patriotic Party (NPP) has indicated that the first shipment of the oil purchased under the “Gold for Oil” initiative was not purchased with cash, as previously reported. According to the party, intermediaries in the deal paid for the oil in cash, while Ghana paid them with gold. Deputy…
The National Petroleum Authority (NPA) has revealed that the initial 40,000 tonnes of diesel that arrived in January under the Gold-for-oil policy were valued at US$40 million. The clarification by the NPA comes after several calls by industry experts including the Institute of Energy Securities for the government to provide…