The Ghana Upstream Petroleum Chamber is calling on the government to reconsider the Growth and Sustainability Bill which seeks to impose a one per cent tax on gross production for oil and gas companies.
The Ghana Upstream Petroleum Chamber is warning that the proposed Growth and Sustainability Levy by government could trigger litigation through the international court as it breaches provisions in the petroleum agreements.
The proposed Growth and Sustainability Levy has the potential to dampen investments into oil and gas exploration and trigger litigations, if approved, the Ghana Upstream Petroleum Chamber, has warned
There are some major developments in the upstream oil and gas sector which threatens the entire industry, Ghana’s potential highest forex earner.
Ghana is losing its shine as the best investment destination for oil exploration and petroleum (E&P) companies, the Chief Executive Officer of the Ghana Upstream Petroleum Chamber, David Ampofo, has said.
U.S. Secretary of Energy Jennifer Granholm told a crowd of energy executives on Wednesday that even as the Biden administration targets a nationwide, carbon-neutral country by 2050, oil and natural gas is going to remain a part of the energy mix for years to come.
The spate of legal tussles within the petroleum upstream industry poses a real threat to sustainability of the nation’s oil production, say experts.
Q: It’s a new year and what should Ghanaians expect from the oil and gas industry with regards to revenue to government, exploration and production?
A: Government will continue receiving royalty, taxes and oil liftings as per the provisions of the Petroleum Agreements it has signed with the different companies that have invested heavily in the sector. In 2021, the industry contributed about GH11.63 billion to Ghana’s GDP; roughly 7%, and we are hoping for an increase this year.
The Ghana Upstream Petroleum Chamber has expressed concern about the impact on foreign investment in Ghana as a result of the ongoing dispute between ENI and its partner VITOL on the one hand and Springfield on the other.
The Ghana Upstream Petroleum Chamber has held its first annual oil and gas conference under the theme “transitioning to a low carbon economy”. The conference brings together explorers, oil and gas producers, and indigenous suppliers and manufacturers in the industry as well representatives from the Ministry of Energy, Ministry of trade and Industry, Ministry of Public Enterprises and the Petroleum Commission. Also in attendance were member companies of the Chamber and other stakeholders.