Ghana: Connection Of Transmission Lines To Karpowership Commences At Secondi Naval Base
Work has begun to connect the transmission lines to allow the Karadeniz Powership Osman Khan, simply referred to as Karpowership, to resume the supply of power to the national grid after relocating from Tema to Takoradi.
The 470-megawatts (MW) Karadeniz Powership which is being managed by Karpowership Ghana Company Limited arrived at the anchorage of the Home Port of the Western Naval Command, Sekondi in the Sekondi-Takoradi metropolis last Thursday evening.
The powership, which propelled itself from Tema to the Western Region and in the company of two tugboats, arrived at the anchorage at 10:30 p.m. last Thursday and early yesterday morning, it entered port and positioned at a jetty, the size of a football field.
Managing Director of Karpowership Ghana Company Limited, Mr Volkan Buyukbicer, in an interview with journalists said after the successful voyage, work would begin immediately and that the relocation was a win for Ghana and the company.
“I must say today we have achieved what we describe as a ‘big move’, which is very important for the energy sector recovery programme to enable the country to utilise the volume of gas produced offshore Ghana,” he said.
After the successful mooring, “we will immediately move in to connect to the transmission lines already in place to resume supply of the 450MW to the national grid.”
“We have arrived, we have started work, but we will work faster to beat the 17-day timeline we have given to the nation and I must say at the moment we are on course,” he said.
Mr Buyukbicer said the use of natural gas was environmentally friendly because it burned cleaner than other fossil fuels and gas came with enormous benefits not only to them as power generators but also the nation as a whole.
Savings
“When we talk about the economy and natural gas I will say it’s cheaper compared to other fossil fuels and the country will, through the use of the gas, save millions of dollars and help government to meet its contractual agreements with gas producers,” he said.
At the port of the Navy, workers were still working on pipelines that would connect the gas to the powership.
The lines stretch to cover a distance of about 10 kilometres made up of 1.5 kilometres of marine and 8.5 onshore pipeline from the metering station of the Ghana National Gas Company (Ghana Gas) to the shore at Ngyeresia.
Generates 450MW
The powership, which generates 450MW power to the national grid, is currently off after disconnecting from the grid in order to set sail to Sekondi.
Immediately after the reconnection to the grid at its current location, the powership would continue to run on heavy fuel oil (HFO) until in the middle of November 2019, when it will be connected to off-take the natural gas from the country’s oil fields.
Construction works on the jetty at Sekondi started in August last year.
It also saw the construction, expansion and reinforcement of the breakwater from two metres to four.
Benefits
When connected, the generating units will be supplied with the 90 million standard cubic feet of gas daily (MMSCFD), which will reduce the cost of transporting gas to Tema and make gas cheaper compared to HFO.
Source: graphic.com.gh/www.energynewsafrica.com
Nigerian Gov’t Ordered To Pay $9bn To Private Gas Firm
A British judge has ordered the Nigerian government to pay $9bn in assets to a small private company.
The firm, P&ID, had reached a deal with the Nigerian government in 2010 to build a natural gas plant – but the deal fell through two years later.
P&ID then sued the government for failing to provide the gas or install the pipelines it had promised to build.
The firm was first awarded $6.6bn (£5.4bn) in 2017, but the London court has now added $2.4bn in interest.
According to the firm’s website, the deal would have allowed it to “build a state-of-the-art gas processing plant to refine natural gas…[that] Nigeria would receive free of charge to power its national electric grid”.
The firm said it had accrued interest of $1.2m a day as a result of the collapsed deal, but the government’s legal team said this was “manifestly excessive and penal”, AFP reported.
The final amount of more than $9bn is equivalent to about 20% of Nigeria’s declared foreign reserves of $45bn.
The government also told the Commercial Court in London that English courts did not have the authority to rule on the dispute.
Nigeria argued that as the original deal was made under Nigerian law, “the seat of the arbitration was Nigeria”.
“I am prepared to make an order enforcing the final award,” he said in his ruling statement. “I will receive submissions from the parties as to the precise form of order appropriate.”
The judge’s decision converts the 2017 arbitration award into a legal judgement, which allows P&ID to try to seize assets from Nigeria.
Andrew Stafford QC, the barrister representing P&ID, told Reuters the firm would “begin the process of seizing Nigerian assets in order to satisfy this award as soon as possible”.
Nigeria’s solicitor general Dayo Apata said the government would appeal against the decision.
Source: BBC
South Africa: Voith Launches On-site Machining And Servicing Tools
Voith, a technology group which provides array of services including energy and oil and gas, has introduced on-site machining and service tools for customers, businesses and authorities in South Africa.
The new services include the refurbishment of plant components in installed or independent state by linear and circular milling, as well as drilling, boring and welding.
The portable on-site machine equipment ensures increased plant up-time and safety.
Cutting assembly, dismantling and transport costs for the refurbishment and maintenance of plant equipment are reduced to a minimum.
“During the past two years, we built up an extensive range of on-site machining and repair services through the acquisition of equipment and the training of new staff.
“Now, we can provide cost-effective workshop-quality machining for the largest and smallest on-site machining projects in Southern Africa,” Anton Harris, Head of Service and Managing Director of Voith Hydro in South Africa said during the launch on Thursday.
“Besides the use in the hydropower sector, the equipment is also applicable to all fields of processing industry in Africa such as the oil and gas or the mining industry.
“For hydropower plants, the Voith range of services is amplified to assessments, trouble shooting, repair and assembly services–along the whole life cycle of an operating plant.”
The on-site machining equipment is stored in sea freight containers on the Voith company premises in South Africa.
From there, the equipment is ready to be shipped on the road or on the seaway to any location in Southern Africa.
Overview of Voith’s On-site Machining Equipment
For a whole range of different boring, drilling and facing applications, there are three heavy-duty line boring machines, which can be equipped with different heads and with an orbital welding machine for welding and re-profiling applications.
The linear mill is a bed-type milling machine for universal use in a fast and accurate way.
Together with the adjustable head mounting options for angular milling and the different tooling options, a wide range of milling jobs can be fulfilled.
Voith’s circular mill is equipped with an incremental drive and can be setup for the machining of large internal diameters and flanges.
While the circular mill comes in a customised container with removable roof and door header, the linear mill and the line boring machines are delivered in steal boxes, or depending on the application in a container.
For repairs and installations, a fully-equipped tool container is also available.
Source:www.energynewsafrica.com
“Besides the use in the hydropower sector, the equipment is also applicable to all fields of processing industry in Africa such as the oil and gas or the mining industry.
“For hydropower plants, the Voith range of services is amplified to assessments, trouble shooting, repair and assembly services–along the whole life cycle of an operating plant.”
The on-site machining equipment is stored in sea freight containers on the Voith company premises in South Africa.
From there, the equipment is ready to be shipped on the road or on the seaway to any location in Southern Africa.
Overview of Voith’s On-site Machining Equipment
For a whole range of different boring, drilling and facing applications, there are three heavy-duty line boring machines, which can be equipped with different heads and with an orbital welding machine for welding and re-profiling applications.
The linear mill is a bed-type milling machine for universal use in a fast and accurate way.
Together with the adjustable head mounting options for angular milling and the different tooling options, a wide range of milling jobs can be fulfilled.
Voith’s circular mill is equipped with an incremental drive and can be setup for the machining of large internal diameters and flanges.
While the circular mill comes in a customised container with removable roof and door header, the linear mill and the line boring machines are delivered in steal boxes, or depending on the application in a container.
For repairs and installations, a fully-equipped tool container is also available.
Source:www.energynewsafrica.com Sinanju, ExxonMobil Sign Charter For LNG-Fuelled Bunker Tanker
Sinanju Logistics Services, the tanker operating arm of Sinanju Tankers Holdings has entered into a two-year time charter agreement with ExxonMobil Asia Pacific for an LNG-powered new-build bunker tanker.
The vessel will deliver ExxonMobil’s new engineered marine fuels to ocean-going vessels within Singapore port limits from Q1 2020. The vessel will join Sinanju’s 13-vessel bunker fleet in December 2019.
Under the Maritime Singapore Green Port Programme, registered vessels that are serviced by alternative or cleaner marine fuelled harbour crafts during their port stay – such as receiving bunker from LNG-powered bunker tankers – stand to receive a 10% port dues concession.
“As responsible stakeholders of the maritime industry, we are stepping up to promote the use of LNG as a sustainable alternative marine fuel to reduce greenhouse gas emissions and we encourage more of such bunker tankers to operate in Singapore,” Sinanju’s managing director Ju Kai Meng said.
Marine Vicky is a 103-metre long 19-m wide bunker tanker classed by Bureau Veritas and has a carrying capacity of 7,990 dwt. It is equipped with a 55 m3 LNG tank paired with a fuel gas supply system on deck for engine propulsion, Sinanju said. The vessel is built at Keppel Offshore & Marine’s shipyard in Nantong, China, under the Maritime and Port Authority of Singapore’s LNG bunkering pilot programme.
“ExxonMobil is glad to be partnering with Sinanju in its effort to reduce emissions in its operations. We are committed to doing our part to meet the demand for cleaner marine fuel supplies safely and reliably, while at the same time, reduce environmental impact and provide sustainable solutions,” Koh Sing Liang, Asia Pacific Sales Director of ExxonMobil Marine Fuels said.
Source: naturalgasworld.com/energynewsafrica.com
Ghana: GNPC Received US$98.29m In First Half Of 2019
Ghana’s national oil company, GNPC, received an amount of US$98.29 million from the petroleum revenue during the first half of 2019, the country’s central bank has announced.
Similarly, the Annual Budget Funding Amount (ABFA) received US$165.66 million whiles the Ghana Stabilisation Fund (GSF) and the Ghana Heritage Fund (GHF) received an allocation of US$69.85 million and US$29.94 million respectively during the period under review.
A report published on the central bank’s website said: “In H1 2019, a total amount of US$434.48 million comprising lifting proceeds of the Ghana Group, surface rentals, PHF income and corporation income tax was received into the PHF.
“Total petroleum revenue distributed was US$363.74 million. GNPC received US$98.29 million, ABFA received US$165.66 million whiles GSF and GHF received an allocation of US$69.85 million and US$29.94 million respectively during the period under review.
GHF and GSF total return year to date (YTD) was 4.71% and 1.33% respectively.
“Realised income on the GPFs in H1 was US$11.20 million (GHF contributed US$6.72 million and GSF contributed US$4.48 million) as compared to H2 2018 total net realised income of US$9.26 million (GHF contributed US$5.31 million and GSF contributed US$3.95 million). GSF and GHF accumulated reserves were US$455.53 million and US$521.83 million respectively.
“Global economic growth is projected to decline from 3.6% in 2018 to 3.3% in 2019 before picking up slightly to 3.6% in 2020. Growth has moderated amid weak growth in the Eurozone, continued trade policy uncertainty, concerns about China’s greater-than-envisaged growth slowdown outlook at the weakest pace in at least 27 years, higher tariffs on Chinese imports, threats of tariff imposition on Mexican imports, and lingering “no-deal” withdrawal of the United Kingdom from the European Union.
“The balance of risks thus remains skewed to the downside, the major central banks have adopted a dovish stance to monitor implications of incoming data and global economic developments. This dovish stance is favourable for global financial conditions with positive implications for emerging markets and frontier economies in the near-term as investors seek higher yields.
“The crystallization of these risks has in the near to medium term created a flight to quality with safe haven bond yields falling and is impacting positively on the marked-to-market valuations of the portfolios of the Ghana Petroleum Funds.”
Source: laudbusiness.com/energynewsafrica.com
Nigeria: VON Lauds NNPC On Reputation Turnaround
The Voice of Nigeria, the mass communication apparatus dedicated to dissemination of information from the country to the outside world, has applauded the improved global reputation of the Nigerian National Petroleum Corporation (NNPC) which was accentuated with the appointment of Mallam Mele Kyari as the Group Managing Director.
Leading a top level management delegation to the NNPC Towers on Thursday, Osita Okechuku, Director General of the agency, noted that the elevation of Mallam Kyari to the position of GMD of NNPC has helped to place a seal of credibility on the operations and activities of the Corporation.
The VON DG explained that based on its varied interaction with global radio audiences, the agency was in a position to feel the pulse and changing perception about the Corporation within the last four years, noting that VON was ready to partner with the Corporation to consolidate this remarkable improvement.
Mr. Okechukwu proposed the creation of a Joint Intervention Partnership with the NNPC, a package which he explained would help both organization seek a workable and mutually beneficial alliance for the common good of the larger population.
Welcoming the VON delegation to the NNPC Towers, Mallam Kyari said the NNPC was favourably disposed to innovative ideas and solutions that would help in effective execution of its mandate of superintending over the nation’s vast hydrocarbon resources for the benefit of all Nigerians and stakeholders.
While acknowledging the strategic role of VON in the Federal Government’s external information dissemination matrix, Mallam Kyari assured that the Corporation would continue to work towards steady improvement of its transparency and accountability quotient.
Egyptian Company To Build Solar PV Plants In Select African Countries
An Egyptian state-owned company, Arab Industrialization Organization (AOI) has announced that it will launch solar power plants in Uganda, Congo, Tanzania, Eritrea, Somalia and Southern Sudan, with capacities ranging from 2 to 4MW.
The company will be responsible for the design, financing, construction and operation of the plants.
The projects will produce electricity as well as desalination plants in targeted countries.
The initiative also benefits from a grant approved by the Egyptian government to the tune of $12 million.
Egypt boasts one of the most progressive renewable energy programmes in Africa, which has seen one of the world’s biggest solar parks come to fruition.
The Benban solar complex located in the city of Aswan in southeastern Egypt is one of the largest of its kind in the world at 1.65GW and is set to be completed by year-end.
The North African company also recently commissioned the 200MW Suez wind farm.
A second 252MW wind project recently achieved financial close.
Kosmos Hires Maersk Drillship For Equatorial Guinea Well
A Maersk Drilling-owned drillship has been hired by Kosmos Energy to drill an exploration well offshore Equatorial Guinea.
The drilling contractor said through its social media channels on Friday that its drillship Maersk Voyager had been signed by Kosmos Energy to drill the S-5 exploration well offshore Equatorial Guinea.
According to Maersk Drilling, the contract has been novated to Kosmos from Noble Energy after a one-well option was exercised on the rig’s current contract.
The rig owner added that the work is expected to start in September this year.
Noble Energy awarded a70 day contract to the Maersk Voyager drillship for operations in Equatorial Guinea earlier this year.
The contract started in 2Q 2019 and was scheduled to end in July 2019. The contract also included one one-well option.
Bassoe estimated that Maersk Voyager’s dayrate with Noble Energy was around $165,000.
Below is the tweet
Extended! Our drillship hashtag#MaerskVoyager has been signed by Kosmos Energy to drill the S-5 hashtag#exploration hashtag#well offshore hashtag#EquatorialGuinea. The contract has been novated to Kosmos from Noble Energy after a one-well option was exercised on the hashtag#rig’s current contract. Work is expected to commence in September this year. https://maerskd.co/Voyager hashtag#MaerskDrilling
MODEC Issues $1.1 Billion In Bonds To Refinance FPSO In Brazil
MODEC has announced that an affiliate has issued a project bond in the international capital markets outside Japan to refinance an FPSO chartered to the TUPI consortium led by Petrobras in Brazil, with the aim of strategically diversifying its financing sources for MODEC’s entire FPSO charter business.
In recent years, the number of FPSO charter projects simultaneously executed by MODEC is increasing and the scale of financing for these projects is also expanding.
In response to these changes in the business environment, the aims of issuing the project bond are to enhance MODEC Group’s financial stability by diversifying its financing sources for FPSO projects, as well as to secure financing flexibility for the future growth of the MODEC Group.
This project bond was issued for the FPSO Cidade de Mangaratiba MV24 which has been deployed and is currently in operation at the Iracema Sul (formerly Cernambi Sul) oil field, operated by Petrobras, in the giant “pre-salt” region offshore Brazil. The shareholders of Cernambi Sul MV24 B.V., which owns the FPSO, are MODEC, Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. and Marubeni Corporation.
The FPSO is currently chartered by a consortium formed by Petrobras (65%), Royal Dutch Shell plc (25%) and Petrogal Brasil S.A. (10%) under a fixed-price charter contract that extends until 2034. The FPSO achieved the first oil production in October 2014 at which time, the 20-Year charter of the FPSO began.
MODEC was responsible for the engineering, procurement, construction, mobilization and installation of the FPSO, as well as a MODEC Group company in Brazil is providing operations and maintenance services for the FPSO. The FPSO, a best in class FPSO both globally and in Brazil, accounts for approximately 4% of Brazil’s daily hydrocarbon production.
The capital cost for the construction of the FPSO was originally financed by equity capital from the four Sponsors of Cernambi Sul MV24 B.V., as well as by project finance from the Japan Bank for International Cooperation (JBIC) and commercial banks. Proceeds from the issuance of the project bond were used to refinance the project finance and make a distribution to Sponsors.
This transaction marks the first project bond for an FPSO project sold in the Regulation S/Rule 144A market, and was sold to a broad range of international investors outside Japan, mainly in Europe and the United States. Total investor demand for the issue was approximately 2-times the issue amount of the $1.1 billion project bond. The strong reception for the bond in the international market highlights MODEC’s highly praised asset management capabilities as well as operations and maintenance for FPSOs.
MODEC is currently carrying out 11 FPSO charter projects simultaneously all over the world, and four more FPSOs are currently under construction. With diverse means of financing, which can be applied to both existing and new charter projects, MODEC is able to respond more flexibly to the recent burgeoning demand for FPSOs and thus establish a robust position in the FPSO industry.
Angola Selects Roadshow Facilitator For Upcoming Licensing Round
Global business information provider IHS Markit, has been selected by the National Agency of Petroleum, Gas and Biofuels of Angola (ANPG), to facilitate its upcoming hydrocarbon licensing round presentations in Luanda, Houston, London and Dubai during September.
IHS Markit last hosted previous hydrocarbon round promotions for Angola in 2005, and 2007-2008, which led to the largest signing bonuses on record for individual blocks.
ANPG, the national concessionaire for Angola, holds mineral rights for the exploration, development and production of liquid and gas hydrocarbons in the West African country, announced it will launch a bid round for the award of exploration and production rights for a total of 10 blocks in the following areas offshore Angola:
Namibe Basin—Blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43
Benguela Sub-Basin—Block 10
The blocks, which are all considered frontier, currently have no hydrocarbon production.
During the upcoming roadshow presentations, ANPG will present technical details regarding the round, provide an overview of the geology of the blocks on offer, discuss fiscal terms, potential hydrocarbon reserves, the timeline for the rounds, qualification requirements and submission guidelines.
Several seismic vendors with seismic coverage of the blocks on offer, will also be present.
Angolan Government To Sell Stakes In 195 Companies
The share capital held wholly or partially by the Angolan state in 195 different companies will be sold between 2019 and 2022, under the Privatization Program, published in the Diário da República official bulletin, quoted by Jornal de Angola.
The program states that 175 companies will be sold via public tender, 11 by public auction and nine through Initial Public Offering (IPO), with the government expected to launch public tenders this year for 80 companies as well as one IPO.
In 2020, 81 companies are due to be sold through public tender, six through auction and three via IPO, and in 2021 and 2022 the remainder will be sold.
The most well-known companies involved in this process are state oil company Sonangol, diamond company Endiama and airline TAAG, the BCI, BAI, BCGA and Banco Económico banks, as well as financial companies ENSA Seguros and the Angola Debt and Securities Exchange (Bodiva).
Other companies listed for privatization include Sonangol’s airline, Sonair, airport management company Sociedade de Gestão de Aeroportos and Sonangalp, a fuel distribution company that is 51% owned by Sonangol.
Zimbabwe: Energy Minister Widens The Pool To Fill Board Vacancies
Zimbabwe’s Energy Minister, Fortune Chasi, has made an open call for applications from members of the public to submit their CVs for possible appointment to boards of State entities.
This appointment aims to do away with mismanagement, nepotism, and corruption in the country’s energy sector.
In an exclusive interview with NewZimbabwe.com, Chasi said the decision was made in order to help him widen his reach before making a choice on the candidate.
“The open call is going to help in the sense that it brings a broader range of people to choose from, not having a small group that is known just by myself. We have more people applying and we will conduct interviews and we can be able to identify skilled people that we need,” he revealed.
The energy minister added that he was also doing this to ensure transparency.
“Just to make sure that the process is open and transparent, and that there is a bigger pool from which to select board members rather than just thinking of people whom I know,” he said.
This development comes after Chasi decided to dissolve the Zimbabwe Electricity Supply Authority (Zesa) board. This decision was taken as Chasi felt that the board was not doing much to address the power challenges.
The Board has failed to “appreciate the urgency of the situation we are in”, he said.
The minister then assured that he will replace the board with people who do not wait for monthly or quarterly meetings to address power challenges confronting the nation.
US Gov’t Shows Appetite To Develop Industrial Dialogue With Africa On LNG
With record-breaking US gas production this year, and the promotion of gas as a ‘cleaner and cheaper’ energy source a continued priority for the current White House, the US Department of Energy is now looking towards Africa to develop opportunities in the exploration, production and monetization of LNG.
In the words of Energy Secretary Rick Perry, “increased amounts of US LNG on the world market benefit the American economy, American workers, and consumers and help make the air cleaner around the globe.”
Appetite for imported gas is growing steadily across the African continent. Just recently, South Africa announced plans to open its first LNG import terminal in 2024.
Meanwhile, US gas production is skyrocketing. Currently at 6 billion cubic feet (bcf) per day, production is forecast to grow to 10 bcf by the end of 2020.
This confluence of circumstance makes Africa a common-sense partner for the US, as it sets out to cement its position as an energy superpower.
As part of this mission, Assistant Secretary for Fossil Energy, Steven Winberg, would join 22 Pan-African ministers at the Africa Oil Week Summit in Cape Town this November.
He would use the event to share US energy policy points with the continent and outline a vision for deeper US commitment to Africa in the oil, gas and power sectors.
This vision looks set to encompass increased two-way trade and investment between the US and Africa, with the US making potential capital available on joint-ventures and to part-finance LNG infrastructure for energy-lacking African countries.
The announcement of Secretary Winberg’s attendance to the summit comes alongside several major US private-sector investments into the African energy sector.
ExxonMobil is making progress in Mozambique with its Rovuma LNG project in deepwater Area 4 block, which contains more than 85 trillion cubic feet of natural gas.
Particularly notable though is Anadarko’s recent announcement of its Final Investment Decision (FID) to construct a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa.
A representative from ExxonMobil would be covering the Rovuma LNG project in Mozambique at Africa Oil Week and, there would be strong presence from ENH and INP at the conference.
Africa Oil Week is putting a renewed focus on the place of gas, with 5 dedicated sessions dedicated solely to LNG in the event programme.
Assistant Secretary Winberg would be actively participating in the AOW Programme.
Source: www.energynewsafrica.com
Auditor General’s Report: We Have Honoured All Tax Obligations-GOIL
Indigenous Ghanaian oil company, GOIL, has dismissed claims in the 2018 Auditor General’s Report that it has defaulted in payment of levies to the state.
The Auditor-General, at a press conference, last week, accused some ten oil marketing companies including GOIL, for causing the state to lose about GHc33, 675,044 between 2016 and 2017.
“Our review of petroleum products lifted at TOR between November 2016 and November 2017 showed that 10 OMCs defaulted in the payment of excise duties, taxes and levies amounting to GH¢33,675,044,” a report from the Auditor General stated.
A data from the Auditor General showed that GOIL owed the state to the tune of GH¢27,688,000.
However, GOIL, in a statement signed by its public relations officer, rejected the claims and clarified the issue.
“Sometime in August last year, GOIL received a letter from the Commissioner, Customs Division of the Ghana Revenue Authority (GRA) in connection with a recovery of taxes and levies of petroleum liftings, covering the period January 2013 to December 2017 amounting to GHc19, 921, 401, 62.
“GOIL promptly responded by communicating to the GRA, using our analysed schedule to point out errors in declarations submitted to GOIL. GOIL specifically pointed out that all the declarations listed by the GRA had errors which could not be corrected via the GCNet system and therefore new declarations had to be made to replace them.
“Following that, GOIL was reliably informed by the GCNet that the erroneous declarations would be expunged from the records, after a month of the date of declaration,” the statement said.
It added that: “Our records which we have submitted to GRA therefore shows that GOIL has paid all taxes and levies of lifted petroleum products during the period indicated.”
GOIL said it found it strange that despite the clarifications, issues had been raised in Part three of the 2018 Auditor-General’s report under the heading: ‘TOR Default in the Payment of Petroleum Liftings’.
Specifically in item numbers 60 and 65, the report indicated that GOIL defaulted in the payment of excise duties, taxes and levies amounting to GHc 27,688,978.98 and MGO liftings amounting to GHS 497,490.
As further proof of non-liability, the GRA itself awarded GOIL the “2017 OVERALL BEST TAX PAYER (CUSTOMS DIVISION’ last year.
“We have, therefore, communicated to the GRA again and the Auditor-General’s office for the records to be formally corrected to reflect our current tax position and, in particular, clarify any misconceptions raised as a result of the publication of the Auditor-General’s report,” the company noted.
GOIL reiterated that it is a law-abiding corporate entity and has always paid its taxes promptly and regularly and will never renege in its obligations towards the state.
Source: energynewsafrica.com