BLACK GOLD BULLETIN

In the town of  Banda Daud Shah, located in the Karak District of Khyber Pakhtunkhwa (KP), Pakistan, a hazardous practice has emerged where residents store liquefied petroleum gas (LPG) in large plastic bags for domestic use. This issue highlights not only the dire living conditions but also the critical need for infrastructure development in the region. natives carrying LPG in plastic bags Banda Daud Shah is part of Karak District, known for its rich deposits of natural gas and oil. The district covers an area of approximately 3,372 square kilometers and has a population of about 430,000. Despite its resource wealth, this town suffers from a severe lack of proper gas distribution infrastructure, forcing locals to adopt unsafe methods to access the resource. Why Store Gas in Plastic Bags? Residents resort to filling plastic bags with natural gas because of the absence of a formal gas supply system. The gas is often extracted by making makeshift connections to main gas lines using h...

Ghana’s petroleum industry plays a vital role in the country’s economy, contributing significantly to government revenues, energy security, and industrial development.  The sector is governed by several state institutions, each with a unique mandate to ensure efficient and sustainable management of the country’s oil and gas resources. On BLACK GOLD BULLETIN today, let's take an in-depth look at the key institutions and their roles. GHANA NATIONAL GAS COMPANY (GHANA GAS) Established in July 2011, Ghana Gas is responsible for the development and management of Ghana’s natural gas resources. As a key player in the energy sector, it ensures the delivery of clean and affordable energy to support national development. Ghana Gas processes raw natural gas from offshore oil fields, notably the Jubilee and TEN fields, through its Atuabo Gas Processing Plant. It supplies processed gas to thermal power plants and industries, promoting the use of natural gas for electricity generation and indus...

Nana Amoasi VII, the Executive Director of the Institute of Energy Security (IES), has expressed concerns about the decreasing interest of international investors in Ghana's oil and gas sector. ( Nana Amoasi VII, the Executive Director of the Institute of Energy Security ) In discussing the state of the petroleum industry, he emphasized key challenges that have hindered exploration and production activities, leading to a steady decline in oil and gas output in recent years. “The reduction in upstream production is no surprise. Companies are struggling to find new fuel sources, with exploration activities declining due to regulatory challenges and uncertainties,” he stated. He noted that over the past five years, production has consistently declined as obtaining approvals for exploration and development has become more challenging, adding that  "Processes are complicated and approvals are delayed, leaving investors frustrated." "Today, Investors don't find Ghana...

The Petroleum Commission has indicated that it is considering a reduction in Ghana's 15% stake in oil exploration projects. With the discovery of oil in several African nations, Ghana risks losing investments in the capital-intensive oil sector to competing countries. The Chief Executive of the Petroleum Commission, Egbert Faibille Jnr, has called for reforms to the country's legal framework governing oil exploration. Responding to concerns about Ghana's lack of progress in developing new oil fields, Faibille lamented the regulatory challenges faced by investors. (CEO, Petroleum Commission, Ghana. Egbert Faibille) "The conversation around that sector is very, very, very commercial, regulatory and also investment related. And the reason is simple, to drill one offshore exploratory Well, a company will have to spend between about 50 to $70 million to be able to bring oil to the surface." “So when an investor brings their money, GNPC will have to take 15% through exp...