DOCSLIB.ORG

Perroleum REFINING / Works

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Perroleum REFINING / Works Documentof The World Bank FOR OFFICIAL USE ONLY c k tf/S- 53J Public Disclosure Authorized Report No. 6628-GH Public Disclosure Authorized STAFF APPRAISALREPORT GHANA PETROLEUMREFINING AND DISTRIBUTION PROJECT May 20, 1987 Public Disclosure Authorized Public Disclosure Authorized Energy Department This documenthas a restricteddistribution and may be used by recipientsonly in the performance of theirofficial duties. Its coutelts may not otherwise be disclosed without World Bank authorization. CURRENCYEQUIVALENTS Currency Unit = Cedi (¢ ¢ 159 = US$1.00_ WEIGHTSAND MEASURES 1 Metric Ton (MT) = 1,000 Kilograms(kg) 1 Barrel (BBL) = 0.159 Cubic Meter 1 Metric Ton of Oil (API 30) = 7.19 Barrels 1 Ton of Oil Equivalent(TOE) = 10 MillionKilocalories (39.7 Million BTU) 1 TOE = 1,000 Kilogramof Oil Equivalent(kg OE) 1 Kilocalorie = 3.97 BritishThermal Units (BTU) 1 Gallon = 3.785 Liters ABBREVIATIONSAND ACRONYMS BEICIP = Bureaud'Etudes Industrielles et de Cooperation de l'InstitutFrancais du Petrole ECG = ElectricityCorporation of Ghana EIB = EuropeanInvestment Bank ENI Ente NazionaleIdrocarburi GHAIP GhanaianItalian Petroleum Company Limited GNPC Ghana NationalPetroleum Corporation COIL - Ghana Oil CompanyLimited KfW = Kreditanstaltfur Wiederaufbau MFP Ministryof Fuel and Power NEB = NationalEnergy Board PNDC = ProvisionalNational Defense Council UNDP = United NationsDevelopment Program VLTC = Volta Lake TransportationCompany VRA Volta Lake Authority FISCALYEAR January 1 - December 31 1/ A dual exchangerate systemwas establishedon September19, 1986 when a foreignexchange auction was institutedfor specifiedtransactions. A t90 rate appliedto the first window (cocoaand residualoil exports, petroleumand essentialdrugs imports,and centralgovernment debt service contractedbefore January 1, 1986);the rate on the secondwindow was establishedat the weekly auction. The two rates were unifiedwith effect from February20, 1987; all transactionsare now valued at the rate emergingin the weeklyauction. In the week endingMay 8, 1987, the marginalrate at the auctionwas ¢159 = US$1. FOR OFFICIAL USE ONLY GHA APPAUISALOF PETROLEUMREFINING AND DISTRIBUTIONPROJECT TABLE OF CONTS Page No. I. INTRODUCTION *v***ev***-*v¢**X**v*** 1 II. THE ERGY SECTOR..................... 2 A. Energy Resources, Supply and Demand ....................... 2 B. Sector Organization . .............. ................ 4 C. The Renewable Energy Sector.............................. 5 D. The PetroleumnSector ................... 55......... 1. Hydrocarbon Potential .....* ........................... 5 2o PetroleumConsumption 000000000000000000toooeoOO-oO 6 3. Petroleum Refining 000000 00 00000000 000000000*ooOoo* 0000 9 4. Petroleum Product Distribution and Marketing .. o..... 11 5. Petroleum Product Transport via Volts Lake *ooo**.ooo.. 12 6. Distribution in the Rural Areas ....................... 12 7, LPG Distribution 000...... 0... 04 0000000. 0 0 O..00000000.00.00 13 8. Petroleum Product Pricing ............................. 13 9. Private Sector Activities .......................... 15 E. Government'sSector Ob3ectives and Development Plans *e*oe* 15 F. Role of the Bank Group 161..........................o.*.o. III. THE BORROWER AND THE IMPLEMENTING AGENCIES ..................... 17 A. Introduction .... .00000.00000000... * .............. 17 B. The Ghana Italian Petroleum Limited *....*......*e . o* 18 1. Organization .0.0.0.0............o.o...o................. 18 2. Managementand Staff .... .............................o 19 3. Accounts and Audit 0000...0 20 4. GRAIP's Finances ................ 20 This reportwas preparedby Messrs.N. Tin and T. Nayar of the Energy Departmentwith the assistanceof Mr. N. Kassatly(Consultant). Mrs. R.M. Colon providedsecretarial assistance. This documenthas a restricteddistribution and may be usedby recipientsonlb in the perfomae of their oflicialduties. Its contentsmay not otherwisebe disclosedwithout World Bank authorization. - ii - Page No. C. The Ghana Oil Company Limited ...........*................. 25 I1 Organisation .ooo.o.eoe....ooo*oo........*........... ,25 2. Management and Staff .................................. 25 3. Accounts and Audit ...o,....,.....0.0...........o.....0 26 4. GOIL's Finances o*o*ooooo,.ooo.o*.*oo.oo.ooo,ooooe oo.*. 26 IV. THE PROJECT o.o.o... *oe........ee...... *.ee................ 29 A. Genesis .o,o.,o o.o..o*.... ooo. oo.o.oooooo*o..oooo..e.oo*.. 29 B. ProjectObjectives oo..o ee 30 C. Project Description oo...............o...................... 30 1. Rehabilitationof GRAIP'sTema Refinery Facilities .... 31 2. Rehabilitationof COIL'sBulk PetroleumDepots at Takoradi and Kumasi *.oo5oeo*oo....oe.*oo eO*..O.oso0. 32 3. Rehabilitationof Retail Outlets .......... 0...........32 4. Expansionof LPG MarketingFacilities o................ 33 5. Petroleum Product Transport via Volta Lake .....o...... 33 6. Farmers' ServiceReseller Outlets o.......ooo..o..oo... 34 7. Trainingfor GOIL Personneland ComputerFacilities oo. 34 D. Project Managementand Implementation ... ** ................ 34 E. Project Schedule ......... .......................... 36 Fo Project Cost Estimates ....................... 36 Go Financing Plan so,,... .ovsoo**oX*oeoo...ss.s..... 38 R. Procurement e 39 I. Allocation and Disbursement of IDA Credit .0........0...... 40 J. Environmentaland Safety Aspects o............. ...... 41 K. ProjectMonitoring and ReportingRequirements .... o....... 42 V. PROJECT JUSTIFICATION AND RISKS ....... oo... o.......eeooo.0*0 43 A. Project Justification o... .....................ooo oo 0.0.00.0 43 1. Sectoraland Institutional Objectives ................0 43 2. Econ%iMicReturns *o..o..o....o..o..o........ooooooooooo 44 3. GHAIP'sTema RefineryOperating Economics ............. 44 - iii - S. ProjectRisks *................,.o........*..0,.,00......*,45 VI* AGREE13MET............. *..,...........* 46 ANNUE$E 2-1 Ghana - EstimatedEnergy Supply/DemandBalance, 1985 2-2 PetroleumProducts Price Structure 3-1 CHAIP - OrganizationStructure 3-2 GRAIP - HistoricalIncome Statements, 1981-1985 3-3 CHAIP - HistoricalBalance Sheets, 1981-1985 3-4 GUAIP - ProjectedIncome Statements, 1986-1992 3-5 GBAIP - ProjectedBalance Sheets, 1986-1992 3-6 QUAIP - ProjectedSources and Applicationof Funds, 1986-1992 3-7 QUA!P - Notes and Assumptionsfor FinancialProjections 3-8 COIL - OrganisationStructure 3-9 COIL - HistoricalIncome Statements,1981-1985 3-10 COIL - HistoricalBalance Sheets, 1981-1985 3-11 COIL - ProjectedIncome Statements,1986-1992 3-12 COIL - ProjectedBalance Sheets, 1986-1992 3-13 COIL - ProjectedSources and Applicationof Funds, 1986-1992 3-14 COIL - Votes and Assumptionsfor FinancialProjections 4-1 ProjectImplementation Schedule 4-2 DetailedProject Cost Estimates 4-3 EstimatedDisbursement Schedule 4-4 ProjectMonitoring Indicators 5-1 EconomicAnalysis 5-2 QUAIP - Tema RefineryOperating Economics MAPS Ghana - Existingand ProposedPetroleum Supply and Distribution Facilities(IBRD 20017) Volta Lake PetroleumTransport - AkosomboWorks (IBRD 20018) Volta Lake PetroleumTransport - Buipe Works (IBRD 20019) DOCUMENTSCONTAINED IN PROJECTFILE 1. Improvementand Expansionof the Volta Lake TransportSystem: Fuel HandlingFacilities at Akosomboand Buipe,VLTS EngineeringConsortium, L&P - GOPA - RRI, April 1986. 2. Regulationsof the GhanaianItalian Petroleum Company Limited. 3. Regulationsof the Ghana Oil CompanyLimited. - iv - CHANA PETROLEUMREFINING AMD DISTRIBUTIONPROJECT CREDITAND PROJECTSUMMARY Borrower: Republicof Ghana Beneficiaries: GhanaianItalian Petroleum Company Ltd. (GHAIP)and Ghana Oil CompanyLtd. (COIL) Amount: SDR 11.7 million (US$15million equivalent) Terms: StandardIDA OnlendingTerms: The Governmentwould onlend the full amountof the Credit to GRAIP (SDR 1.3 millionor US$1.7 million equivalent)and COIL (SDR 10.4 millionor US$13.3 million equivalent) at 1.1 times the prevailing (currently7.92X) Bank interestrate for 15 years including3 years of grace. GHAIP and COIL would bear the foreignexchange risk on the Credit. Colenders: SIB is expectedto provideUS$6.5 million equivalent towards .he financingof GHAIP'sTema refinery rehabilitation.The FederalRepublic of Germany, throughKfW, would provideDM 16 million (US$8.7million equivalent)to Vofta Lake TransportationCompany (VLTC) to financeon a parallelbasis the watersidefacilities of the Volta Lake petroleumtransport system. ProjectDescription: The proposedproject would increasethe reliabilityand reducethe cost of supplyand distributionof petroleum productsthroughout the countryby furtherimproving the operatingefficiency of CHAIP'srefinery and by rehabi- litatingand improvingCOIL's existing o4tl distribution and marketingfacilities. It would also open a new route of transport(Volta Lake) of petroleumproducts to the north and enable the distributionof diesel and keroser.eto outlying/remoteareas mainly to facilitate movemontof agriculturalproducts. The proposedproject comprisesthe followingcomponents: (a) Completionof the ongoingrehabilitation of the Tema Refineryof GCAIP (underCredit 1446-GH) particularlyoffsite facilities, utility systems, LPC handling,product shipping facilities and energy efficiencyimprovement of the existing distillationunit, and acquisitionof vehicles; (b) rehabilitationof GOIL's bulk petroleumstorage depots locatedat Takoradiand Kumasi; (c) rehabilitationof GOIL's existingnetwork of retail outlets; (d) expansionof the infrastructureand increased availabilityof LPG bottlesand stovesto market additionalLPG that could be made availablefrom the Tema refinery; (e) provisionof storagetanks
Load more

Recommended publications
  • 2016 Annual Aggregate Report
    2016 REPUBLIC OF GHANA MINISTRY OF FINANCE, GHANA SOE ANNUAL AGGREGATE REPORT Table of Contents ACRONYMS ..................................................................................................................................................................................................... 2 ACKNOWLEDGEMENT ..................................................................................................................................................................................... 3 FOREWORD ..................................................................................................................................................................................................... 4 STATEMENT FROM EXECUTIVE CHAIRMAN, STATE ENTERPRISES COMMISSION (SEC) .................................................................................. 5 EXECUTIVE SUMMARY .................................................................................................................................................................................... 6 1 INTRODUCTION ...................................................................................................................................................................................... 7 2 OVERVIEW OF THE SOE SECTOR ............................................................................................................................................................ 8 3 CONTRIBUTION OF THE SOE SECTOR ....................................................................................................................................................
    [Show full text]
  • Guin April 28, 2017
    April 28, 2017 GSE MARKET STATISTICS SUMMARY Weekly Stock Market Review GSE-CI Extends Gains: The equities market ended the week in the positive Current Previous % Change territory anchored on price gains in 8 counters. The Ghana Stock Exchange’s Databank Stock Index 24,800.75 24,672.90 0.52 Composite Index (GSE-CI) gained 10.37 points w/w to ~1,896 points, while GSE-CI Level 1,896.13 1,885.76 0.55 the Databank Stock Index surged by 128 points w/w to ~24,800 points. The Market Cap (GH¢ m) 58,822.68 48,778.78 20.59 year to date returns of the GSE-CI and the Databank Stock Index stand at YTD Return DSI 11.05% 10.48% 12.26% and 11.05% respectively. YTD Return GSE-CI 12.26% 11.64% Weekly Volume Traded (Shares) 2,142,471 1,812,263 18.22 A block trade in Ecobank Transnational Inc. propelled the volume of shares Weekly Turnover (GH¢) 2,785,677 1,639,744 69.88 traded by ~17% w/w to ~2.1 million shares. These trades, which occurred Avg. Weekly Volume Traded (Shares) 1,059,295 1,049,043 0.98 across 22 counters, were valued at ~GH¢2.7 million. Avg. Weekly Value Traded (GH¢) 1,473,386 1,460,057 0.91 The market breadth of the Ghana Stock Exchange was positive w/w: 8 No. of Counters Traded 22 21 gainers to 3 laggards. Unilever Ghana increased by 15Gp to GH¢9.05. Access No. of Gainers 8 6 Bank Ghana moved up 10Gp to GH¢4.00.
    [Show full text]
  • PRESS RELEASE PR. No 034/2019 GHANA OIL COMPANY LIMITED (GOIL) ANNUAL REPORT and CONSOLIDATED FINANCIAL STATEMENT for the YEAR
    PRESS RELEASE PR. No 034/2019 GHANA OIL COMPANY LIMITED (GOIL) ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 GOIL has released its Annual Report and Consolidated Financial Statements for the year ended December 31, 2018 as per the attached. Issued in Accra, this 9th day of April, 2019 - E N D – att’d. Distribution: 1. All LDMs 2. General Public 3. Company Secretary, GOIL 4. MBG Registrars, (Registrars for GOIL shares) 5. Custodians 6. Central Securities Depository 7. Securities and Exchange Commission 8. GSE Council Members 9. GSE Notice Board For enquiries, contact: Head Listing, GSE on 0302 669908, 669914, 669935 *GA GHANA OIL COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 GHANA OIL COMPANY LIMITED ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 CONTENTS PAGE COMPANY INFORMATION 1 REPORT OF THE DIRECTORS 2 - 3 REPORT OF THE AUDITOR 4 - 7 STATEMENT OF COMPREHENSIVE INCOME 8 STATEMENT OF FINANCIAL POSITION 9 STATEMENT OF CHANGES IN EQUITY 10 STATEMENT OF CASH FLOWS 11 GENERAL INFORMATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 12 - 26 OTHER NOTES TO THE FINANCIAL STATEMENTS 27 - 40 GHANA OIL COMPANY LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2018 BOARD OF DIRECTORS: Hon. Peter Kwamena Bartels - Chairman Mr. Patrick Akpe K. Akorli - Group CEO/MD Mr. Thomas Kofi Manu - Member Hon. Kwame Osei-Prempeh - Member Mr. Beauclerc Ato Williams - Member Mrs. Beatrix Agyeman Prempeh - Member Mr. Robert Owusu Amankwah - Member Mrs. Rhoderline Baafour-Gyimah - Member Mr. Stephen Abu Tengan - Member SECRETARY: Nana Ama Kusi-Appouh AUDITOR: PKF Chartered Accountants Farrar Avenue P.O.
    [Show full text]
  • Good Energy Contents Contents
    ANNUAL REPORT AND 2014 FINANCIAL STATEMENTS Good energy contents contents 02 Company Information 03 Notice of 46th Annual General Meeting 04 Resolutions to be passed at the Annual General Meeting 05 Profile of New Directors to be Elected 06 Board of Directors 07 Address by Chairman 10 Management Team 11 Report of the Directors on The Financial Statements 13 Corporate Governance 14 Disclosure Requirements 16 Independent Auditor's Report 18 Statement of Comprehensive Income 19 Statement of Financial Position 20 Statement of Changes in Equity 21 Statement of Cash Flow 22 Notes to The Financial Statements 43 Proxy Form GOIL Annual Report & Financial Statements 2014 Company Information Notice of 46th Annual General Meeting BOARD OF DIRECTORS Prof. William A. Asomaning – Chairman NOTICE IS HEREBY GIVEN that the 46th Annual General Meeting of the Shareholders of Ghana Oil Mr. Patrick Akpe Kwame Akorli – Managing Director Company Limited will be held at the Auditorium, College of Physicians and Surgeons, Ridge, Accra on Hon. Nii Laryea Afotey-Agbo – Member Thursday, 30th April, 2015 at 11:00 am for the transaction of the following business: Nana Esuman Kwesi Yankah – Member Mr. Eugene Akoto-Bamfo – Member Mr. Chris A-Ackummey – Member AGENDA Mad. Faustina Nelson – Member Mr. Thomas Kofi Manu – Member ORDINARY BUSINESS Hon. Kojo Bonsu – Member 1. To receive and consider the reports of the Directors and the Auditors and the Financial Statements of the Company for the year ended December 31, 2014. 2. To declare a dividend for the year ended December 31, 2014. SECRETARY Mr. Stephen Y. Gyaben 3. To elect Directors to replace retiring Directors.
    [Show full text]
  • Has Gse Played Its Role in the Economic Development of Ghana?
    CAPITAL MARKET 23 YEARS AND COUNTING: HAS GSE PLAYED ITS ROLE IN THE ECONOMIC DEVELOPMENT OF GHANA? 1st CAPITAL MARKET CONFERENCE BY EKOW AFEDZIE, DEPUTY MANAGING DIRECTOR MAY 10, 2013 INTRODUCTION Ghana Stock Exchange (GSE) was established with a Vision: -To be a relevant, significant, effective and efficient instrument in mobilizing and allocating long-term capital for Ghana’s economic development and growth. INTRODUCTION OBJECTIVES - To facilitate the Mobilization of long term capital by Corporate Bodies/Business and Government through the issuance of securities (shares, bonds, etc). - To provide a Platform for the trading of issued securities. MEMBERSHIP OF GHANA STOCK EXCHANGE GSE as a public company limited by Guarantee has No OWNERS OR SHAREHOLDERS. GSE has Members who are either corporate or individuals. There are two categories of members:- - Licensed Dealing Members - 20 - Associate Members - 34 HISTORICAL BACKGROUND 1968 - Pearl report by Commonwealth Development Finance Co. Ltd. recommended the establishment of a Stock Exchange in Ghana within two years and suggested ways of achieving it. 1970 – 1989 - Various committees established by different governments to explore ways of bringing into being a Stock Exchange in the country. HISTORICAL BACKGROUND 1971 - The Stock Exchange Act was enacted. - The Accra Stock Exchange Company incorporated but never operated. Feb, 1989 - PNDC government set up a 10-member National Committee on the establishment of Stock Exchange under the chairmanship of Dr. G.K. Agama, the then Governor of the Bank of Ghana. HISTORICAL BACKGROUND July, 1989 - Ghana Stock Exchange was incorporated as a private company limited by guarantee under the Companies Code, 1963. HISTORICAL BACKGROUND Nov.
    [Show full text]
  • 2012-Edition-GC100-Directory.Pdf
    2012 2012 DIRECTORY DIRECTORY NAME OF COMPANY BUSINESS CATEGORY LOCATION ADDRESS TELEPHONE FAX/E-MAIL/WEBSITE CONTACT PERSON TITLE 7 Dr. Amilcar Cabral Road, Accra (233-302) 770189/90/91 “(233-302) 770187 1 Abosso GoldFields Limited Mining Institution Airport Residential Area P. O. Box KA 30742 www.goldfields.co.za” Alfred Baku Managing Director Accra Banking Services [email protected] Head, Corporate 2 Acces Bank (Ghana) (Commercial & Merchant) “Starlets ‘91 Road “P. O. Box GP 353 Osu- Accra” (233-302) 684860 / 742699 www.accessbankplc.com/gh Matilda Asante-Aseidu Communications (233-302) 2688960 3 Accra Brewery Manufacturing - Beverages Opp. Ohene Djan Staduim” P. O. Box GP351 (233-302) 688851-6 [email protected] Gregory Metcalf Managing Director www.sabmiller.com (233-302) 685176 4 Activa International Insurance Company Non-Banking-Insurance Graphic Road, Adabraka PMB KA 85 (233-32) 686352 / 672145 [email protected] Limited www.group-activa.com “P. O. Box 35 Banking Service-Rural & 3rd Floor Heritage Tower, 6th Ave. West (233-322) 420926 / 90099 Lucy Opoku-Arthur Ag General Manager 5 Adansi Rural Bank Limited Community Banking Ridge, Accra Fomena-Adansi” Banking Services-Rural & 6 Adonten Community Bank Limited Community Banking Head Office: Fomena - Adansi P.O.Box 140 3420-24109/027-895636/027-7609343 3420-26780 [email protected] Mr.Francis Mensah Senior Manager Banking Services-Rural & 7 Ahantaman Rural Bank Limited Community Banking New Tafo, Akyem, Eastern Region P. O. Box 41, Ahanta (233-312) 23431 / 21016 (233-312)29116 David Bampoe General Manager Banking Services-Rural & 8 Amanano Rural Bank Limited Community Banking Agona Ahanta,Western Region P.
    [Show full text]
  • Ghana National Petroleum Corporation List of Registered Service Companies with Permit
    GHANA NATIONAL PETROLEUM CORPORATION LIST OF REGISTERED SERVICE COMPANIES WITH PERMIT OWNERSHIP START DATE OF EXPIRY DATE OF 1st Renewal COUNT SERIAL NO. NAME OF COMPANY ADDRESS CONTACT NUMBER RANGE OF SERVICES PROPOSED STRUCTURE PERMIT PERMIT (expiry date) Industrial area Extension road, Ronfort Provision of 3rd party labour (On/Offshore), Office/warehouse Ghanaian co. with more Foundation Int., Takoradi Tel: 0243-431805 rental, full fabrication facilities, marine engineering, repairs and than 50% Ghanaian 1 001108 Seaweld Engineering Ltd. P. O. Box 574 Tema. Email: [email protected] maintenance, Tank cleaning, procurement, handling of waste. ownership 1-Sep-08 31-Aug-09 28-Dec-10 Thokey House, Comm4, Opposite SEGECO Tel: 022-205557 Logistics, Labour supply, Catering, Marine supply vessels, Car rental, Ghanaian co. with more Flats. Fax:022-205558 Pipe yard/Warehouse, Shipping agency, clearing & forwarding Crude oil than 50% Ghanaian 2 002108 Menergy (Ghana) Limited P. O. Box CO2932, Tema Email: [email protected] brokerage&lifting ownership 1-Sep-08 31-Aug-09 31-Aug-10 Tel: 022-302474, 022-302291 Plot A/34/4, Steel works Road, Heavy Fax:022302474 Ghanaian co. with more Industrial Area, Tema. Email:[email protected] / Importation of Chesterton Products, Maintenance of Chesterton's plants, than 50% Ghanaian 3 003108 Gulf Engineering Services Ltd P. O. Box CO 1642, Tema [email protected] machinery and equipment. ownership 1-Sep-08 31-Aug-09 Logistical services related to import and export of oilfield equipment, principally handling of sea and airfreight, transportation of materials, Ghanaian co. with more Commercial Warehouse Road, Main warehousing, storage, ship agency services, meet and greet, aircraft than 50% Foreign 4 004108 SDV Ghana Limited Harbour Area, P.
    [Show full text]
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 8th January, 2015 STOCK MARKET ACCRA BOURSE MAKES PROMISING START INDICATORS WEEK OPEN WEEK END CHANGE The year 2014 has begun living up to expectations as bullish runs in equities from the petroleum, finance and consumer Market Capitalization (GH¢ goods sectors saw the annual returns of the broader market 'million) 64,352.42 64,229.12 -0.19% Market Capitalization (US$' inch up to 0.42% last Thursday. Though, most equities gave million) 20,109.50 20,014.06 -0.47% up their opening prices, rise in the market value of Ghana Oil Petroleum Company Limited (GOIL), Societe Generale Ghana Volume traded (shares) 783,118.00 573,274.00 -26.80% Table 1: Market Summary Limited (GOIL) and Fan Milk Limited (FML) were enough to close the week’s activities on a positive note. Key benchmark indices closed the week better despite slight volatilities during inter-day trading. The GSE Composite INDEX ANALYSIS index closed at a year-to-date return of 0.42% whiles the GSE Financial Stocks Index settled at 0.67% returns. INDICATORS Closing Week YTD Level Change CHANGE Total market capitalization of the Ghana Stock Exchange was GH¢64.23 billion, an equivalent to USD20.00 billion. GSE Composite Index 2,270.57 0.42% 0.42% GSE Financial Stocks Index 2,258.77 0.67% 0.67% Table 2: Key Stock Market Indices LIQUIDITY The absence of block trades over the period saw liquidity comparatively down last week. All in all, an approximate figure of 573,274 shares exchanged hands within the first trading week of the year, and was also valued about GH¢2.48 million.
    [Show full text]
  • Ghana Oil & Gas 2012
    Ghana Oil & Gas 2012 Economy • Exploration • Oil • Natural Gas • Challenges • Services Global Business Reports Industry Explorations CREDITS EDITORIAL AND MANAGEMENT TEAM Senior Journalist: Angela Harmantas [email protected] Journalist: Tom Hurst [email protected] Project Coordinator: Pavlina Pavlova [email protected] General Manager: Agostina Da Cunha [email protected] Regional Manager: Sharon Saylor [email protected] Graphic Designer: Gonzalo Da Cunha [email protected] Editor: Barnaby Fletcher For more information about GBR, please email [email protected]. For updated industry news from our on-the-ground teams around the world, please follow us on Twitter: @GBReports. THANK YOU GBR would like to thank the following associations for their help in the research of this project: Ministry of Energy www.energymin.gov.gh Ghana Energy Commission www.energycom.gov.gh Ghanaian National Chamber of Commerce & Industry www.ghanachamber.org Ghana Investment Promotion Centre (GIPC) www.gipcghana.com Petroleum Commission We would also like to sincerely thank all the companies that took the time to give their insights on the market, with a special mention to George Aboagye, CEO, Ghana Investment Promotion Centre (GIPC), for his written contribution to this book, as well as to Leslie Asamoa, Consultant to the Finland-Ghana Chamber of Commerce (FINGHCC) for his assistant. Industry Explorations Global Business Reports // BRAZIL CHEMICALS 2012 72 Global Business Reports Industry Explorations INTRODUCTION LETTER Dear readers, Simply put, Ghanaians truly value their reputation as one of the African con- Akwaaba. tinent’s most stable, investor-friendly countries, and take great pride in main- A simple word, meaning “welcome” in taining it as such.
    [Show full text]
  • WEEKLY MARKET REVIEW 3 November 2017
    DATABANK RESEARCH WEEKLY MARKET REVIEW 3 November 2017 ANALYST CERTIFICATE & REQUIRED DISCLOSURE BEGINS ON PAGE 4 GSE MARKET STATISTICS SUMMARY Current Previous % Change Market Indices Maintain Bullish Performance (w/w): Databank Stock Index 30,388.18 30,209.24 0.59% By the end of this week’s trading session, the Ghana Stock Exchange’s Composite Index GSE-CI Level 2,367.28 2,352.11 0.64% increased by 15.15 points w/w to ~2,367 points while the Databank Stock Index (DSI) surged by 178.94 points w/w to 30,388 points. The year-to-date returns of the GSE-CI Market Cap (GH¢ m) 58,057.10 58,497.34 -0.75% and the DSI are recorded at 40.15% and 36.07% respectively. YTD Return DSI 36.07% 35.27% Market activity improved by ~32% w/w to 5.37 million shares on the back of block trades YTD Return GSE-CI 40.15% 39.25% in Cal Bank and Total Petroleum. The total volume of shares traded were valued at Weekly Volume Traded (Shares) 5,365,067 941,100 470.08% GH¢8.97 million. Cal Bank and Total Petroleum accounted for ~94% of the aggregate volume of shares traded. Weekly Turnover (GH¢) 8,973,736 3,004,202 198.71% Avg. Weekly Volume Traded The market breadth of the bourse was negative (w/w) with 6 gainers and 7 laggards. 1,443,315 1,417,645 1.81% Unilever Ghana was the best performer (w/w), surging by 39Gp to GH¢10.99.
    [Show full text]
  • World Bank Document
    Document of The World Bank FILE FOR OFFICIAL USE ONLY Public Disclosure Authorized ReportNo. P-3191-GH REPORT AND RECOMMENDATION OF THE PRESIDENTOF THE INTERNATIONALDEVELOPMENT ASSOCIATION Public Disclosure Authorized TO THE EXECUTIVEDIRECTORS ON A PROPOSED CREDIT OF SDR 10.2 MILLION TO THE Public Disclosure Authorized REPUBLICOF GHANA FOR AN ENERGY PROJECT May 5, 1983 Public Disclosure Authorized This documenthas a restricteddistribution and maybe used by recipientsonly in the performanceof their official duties. Its contentsmay not otherwisebe disclosedwithout World Bank authorization. CURRENCY EQUIVALENT Currency Unit = Cedis (¢) US$1 = 2.75 Cedis 1 Cedi = US$0.36 US$1 = SDR 1.08 (The US$/SDR exchange rate used in this Report is that of April,1983) WEIGHTS AND MEASURES 1 meter (m) 3.28 feet (ft) f kilometer (km) 0.68 mile (mi) 1 square kilometer (km2) = 0.386 square mile (sq mi) 1 kilogram (kg) 2.2 pounds (lb) 1 metric ton (m ton) = 2,204 pounds (lb) 1 liter (1) 0.26 US gallon (gal) I cubic meter (m3) = 6.3 barrels (b) ABBREVIATIONS AND ACRONYMS CIB = Capital Investment Board EEC = European Economic Community GRAIP = Ghana Italian Petroleum Company GNPC = Ghana National Petroleum Corporation GOIL = Ghana Oil Company Limited GSD Geological Survey Department GSI = Geophysical Service, Inc. MFP = Ministry of Fuel and Power NEB = National Energy Board RRI = Robertson Research International TOE = Tons of Oil Equivalent UNCTC = United Nations Center for Transnational Corporations VALCO = Volta Aluminum Company VRA = Volta River Authority FISCAL YEAR January 1 - December 31 FOR OFFICIAL USE ONLY REPUBLIC OF GHANA ENERGY PROJECT CREDIT AND PROJECT SUMMARY Borrower : Republic of Ghana Beneficiary : Ministry of Fuel and Power Amount : SDR 10.2 million (US$11.0million equivalent) Terms : Standard Project Description The primary objectives of the project are to re- kindle and accelerate petroleum explorationin Ghana.
    [Show full text]
  • Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana
    WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 17th November, 2016 STOCK MARKET UNCERTAINTY DRIVES PERFORMANCE FURTHER DOWN Increased uncertainty on the Ghana Stock Exchange (GSE) INDICATORS WEEK OPEN WEEK END CHANGE saw performance of listed companies slip further during last Market Capitalization week’s activities. Shares of Standard Chartered Bank (SCB), (GH¢'million) 51,951.45 51,438.18 -0.99% Ghana Oil Company Limited (GOIL), Ecobank Ghana Limited Market Capitalization and Ecobank Transnational Incorporated (ETI) forced the (US$'million) 13,101.52 12,934.24 -1.28% broader market dropped further down. Volume traded (shares) 1,610,158.00 1,902,646.00 18.17% At the close of week, the losses on the GSE-Composite Index, Value Traded (GH¢) 524,455.97 1,428,989.43 172.47% the GSE Financial Stocks Index (GSE-FSI) and the SIC-FSL Top 15 Liquid Index (T-15 Index) worsened from the Value Traded (US$) 132,261.36 359,322.44 171.68% Table 1: Market Summary previous week losses of 15.42%, 18.01% and 25.84% respectively, to settle at 16.42%, 19.24% and 29.22% INDEX ANALYSIS respectively. INDICATORS Closing Week YTD Level Change CHANGE Total market capitalization also dropped further from the previous week’s figure of GH¢51.95 billion to GH¢51.44 GSE Composite Index 1,667.26 -1.72% -16.42% billion last Thursday. Likewise, an equivalent dollar value also dipped from the previous week’s figure of USD 13.17 SIC-FSL Top 15 Index 2,626.33 -4.55% -29.22% billion to USD12.93 billion.
    [Show full text]