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1-10 results from 1000 for query «petroleum»

February 23, 2018 9:58 AM New law to track VAT electronically in the offing

Parliament will soon pass a law that will track all VAT issued at various retail centers across the country. The Fiscal Electronic Device Bill is expected to connect all Point of Sale (PoS) devices with the Ghana Revenue Authority (GRA)’s systems. The move is to ensure that VAT issuing companies do not under declare their values and also punish tax evaders 29

February 19, 2018 5:04 PM Petroleum Commission halts fast paced contract approvals

The Petroleum Commission has warned that it will not approve any petroleum contract that does not fulfill the three months’ mandatory notice ahead of its implementation. The caution follows what the Commission describes as the abuse of the law by oil companies. According to the CEO of the Petroleum Commission, Egbert Faibille, the issue also prevents 29

February 16, 2018 6:00 AM IES slams ‘insignificant’ 2% Special Petroleum Tax reduction

A senior Analyst at the Institute of Energy Security (IES), Richard Rockson, is dissatisfied with the marginal reduction in the Special Petroleum Tax from 15 percent to 13 percent. Like some observers, Mr. Rockson insists that the Special Petroleum Tax should be scrapped completely. Mr. Rockson stated that even after the reductions, Ghanaians will continue 41

February 15, 2018 6:25 PM I will disrespect you if you dare me – Haruna threatens Speaker

Minority Leader, Haruna Iddrisu, has threatened to disregard the authority of the Speaker of Parliament, Professor Aaron Mike Oquaye. This follows what he describes as the Speaker’s failure to recognize him when he wanted to make an intervention during the debate on the Special Petroleum Tax today [Thursday]. What further angered the Minority Leader 18

February 15, 2018 5:41 PM Special Petroleum Tax reduced by 2%

Parliament has passed the Special Petroleum Tax Amendment Bill to reduce the tax from 15 percent to 13 percent. The amendment comes after recent protests against the rising cost of fuel, as well as calls from the minority for the Special Petroleum Tax to be scrapped. He explained that the amendment will protect Ghanaians in the future when petroleum 55

February 13, 2018 9:27 AM Scrap 15% Special Petroleum Tax–IES

The Institute of Energy Security (IES) has called for the outright abolishment of the 15 percent Special Petroleum Tax. The call comes after the Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Union (ICU) embarked on a demonstration over frequent hikes in petroleum prices. The National Petroleum Authority (NPA) has assured that it will take a look at tax and make some adjustment 28

February 3, 2018 7:15 AM North Korea made $200m flouting sanctions, UN told

North Korea earned nearly $200m (£141m) last year by exporting banned commodities in breach of international sanctions, a UN report says. The report by a panel of experts said several countries including China, Russia and Malaysia had failed to stop the illegal exports. It said there was evidence of military co-operation with Syria and Myanmar 29

December 5, 2017 7:09 AM Premix fuel diversions: ‘Guilty’ OMCs banned

The about 14 Oil Marketing Companies found culpable in the illegal diversion of premix fuel, have been banned and will no longer receive premix fuel supplies from the National Premix Fuel Committee. This was contained in a joint press release issued by the Ministry of Energy, Ministry of Fisheries and Aquaculture Development, National Petroleum Authority 55

October 30, 2017 5:00 AM Goil rewards dealers, supervisors and attendants

The Managing Director & Group CEO of GOIL, Mr. Patrick A.K. Akorli has appealed to the Government to quickly pass the local content law to strengthen local businesses in the country. Mr. Akorli made this appeal when he delivered his speech at the GOIL 2016 Dealers & Trade Area Awards ceremony held at the SWISS SPIRIT Alisa Hotel on Friday, October, 27 2017. “We at GOIL believe 31

October 27, 2017 8:55 PM UPDATE 1-Ghana's ESLA to pay 19.0 pct yield on 7-yr tranche of energy bond

ACCRA, Oct 27 (Reuters) - Ghana’s ESLA will pay a yield of 19.0 percent on an oversubscribed 2.4 billion cedi ($548 mln) seven-year tranche of a government-backed energy bond issued on Friday to repay debts owed by power utilities, arrangers said. ESLA, which was set up by the government to raise bonds to clear the debts, has extended the final pricing 27