The former Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST), Dr Edwin Alfred Nii Obodai Provencal has robustly defended Ghana’s ‘Gold for Oil’ (G4O) initiative against recent criticisms. This comes in response to remarks by Dr Riverson Oppong, CEO of the Association of Oil Marketing Companies (AOMC), who questioned the programme’s […]
Tag: Gold for Oil
Gov’t commences review of ‘Gold for Oil Policy’ over fears of possible fuel shortage
The government has initiated a review of the Gold for Oil policy, holding a crucial meeting with petroleum sector stakeholders amid concerns over potential fuel shortages in parts of the country. On his first day in office, Energy Minister John Jinapor met with key industry groups, including the Bulk Oil Distribution Companies, the Chamber of […]
Gold-for-Oil plan: NPA to regulate product prices
To ensure that the prices of petroleum products imported under the Gold-for-Oil (G4O) programme reflect at the pumps to benefit consumers, the National Petroleum Authority (NPA) will regulate the prices of the products in the interim until the volumes increase significantly. In addition, the NPA will work with the Bulk Oil Storage and Transportation (BOST) […]
Gold for oil: First consignment arrives in Ghana next week
The first consignment of fuel in the government’s gold for oil deal will arrive next week, a Deputy Minister of Lands and Natural Resources, George Mireku Duker, has disclosed. “We have put all the lines together and we believe that we are ready to kick start it. “It is good and will help to cushion […]
Gold for oil: Mining firms directed to sell 20% for petroleum
From January 2023, the Ghana government will exchange gold for oil. That is gold produced locally will be exchanged for a portion of the petroleum needs of Ghana. The “Gold 4 Oil” programme will enable the country to use part of the gold produced locally to purchase oil as part of measures the government is […]