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‘News Review for 11th October, 2017: Oil rises on signs of tighter market, but 2018 looks more uncertain

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Happy Wednesday!!

The International news portal, Reuter has disclosed ‘Oil rises on signs of tighter market, but 2018 looks more uncertain”.  Explaining this, the news portal says Oil prices edged higher for a third day on Wednesday as OPEC said the market was gradually tightening after years of oversupply, but the 2018 outlook was less certain.

Also the Accra-based online news platform, Citifmonline has reported “IMF, Ghana deliberate on mode of issuing energy bond”. Citi Business News gathered that the delay in issuing the Energy Sector bond is due to an inconclusive meeting with the International Monetary Fund on the categorization of the bond. An earlier statement from the Finance Ministry indicated that, government will issue the 2.5 billion dollar energy sector bond in September this year.

It also reported “MIDA holds gender forum under Power Compact II”. The Millennium Development Authority (MiDA) has held a Social and Gender Integration forum which is a strict requirement under the Power Compact Two.The forum is a strict requirement under the Power Compact Two to enable Ghana access some funds from the US government to be injected in to the power sector.

Myjoyonline also reported “NPA to engage 200 extra safety Auditors”. According to the news portal, the Energy Minister, Boakye Agyarko, has disclosed that government has given the National Petroleum Authority (NPA) the clearance to hire 200 auditors to make sure that safety standards are complied with at all gas stations across the country.

Daily Graphic also disclosed the following :

  • Prosecute owners of gas stations, whose negligence leads to loss of lives and properties-MPs Page 3
  • Police opens post at gas explosion site to recieve victims complaints Page 45
  • 15 truckloads of smuggled petroleum products confiscated. Page 64
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Jacqueline Parditey

Jacqueline is a graduate with a Degree in Communication Studies from the Ghana Institute of Journalism (GIJ). She is a Project Associate currently working with the Oil, Gas and Mining projects team at Penplusbytes.
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