Pulse Business Wrap TOR to clear debt after posting $800,000 profit, MD says

In 2015, TOR's debt was estimated to be in excess of 1.9 billion Ghana Cedis, however, the MD says the introduction of the Energy Debt Recovery Levy would help to settle the debt.

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TOR to clear debt after posting $800,000 profit, MD says

The acting Managing Director of Tema Oil Refinery (TOR), Mr Kwame Awuah Darko, has said the company is taking steps to clear its debt within the next 10 years after posting $800,000 profit from its operations from February 16 to April 20, 2016.

In 2015, TOR's debt was estimated to be in excess of 1.9 billion Ghana Cedis, however, the MD says the introduction of the Energy Debt Recovery Levy would help to settle the debt.

Production of crude oil resumes on the Jubilee Field

Production of crude oil has resumed on the Jubilee Field after Tullow declared force majeure on two cargoes after an issue on the Floating Production Storage and Offloading (FPSO) facility that exports the oil.

The turret bearing on FPSO Kwame Nkrumah developed a fault and was shut down for maintenance work.

Initial maintenance deadline was missed, raising concerns it may worsen the country’s shaky power supply.

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.80                             4.10

Pound Sterling             5.48                              5.78

Euro                             4.28                              4.58

 

On how your stocks performed on the GSE Index today

 

UT Bank Limited were the biggest gainers of the day, gaining 1p to close at 10p….whereas Ghana Commercial Bank Limited and Societe Generale Ghana Limited were the biggest losers of the day, dropping 1p each to close at 3.02p and 0.76p respectively.

 

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