COPEC flags mammoth loses in upstream sector

OMCs Requesting Waiver on Fines for Overdue Products at KPC

Several oil marketing companies (OMCs) in Kenya are seeking a waiver on penalties imposed for storing petroleum products beyond the allowable period in the Kenya Pipeline Company (KPC) storage facilities. According to Business Daily, the firms opine that logistical challenges and unforeseen delays have led to the overstaying of their products, resulting in substantial fines. … The post Kenya’s Oil Firms Request Waiver on Fines for Overdue Produc…

COPEC Exposes Major Oil Revenue Leaks, Urges Real-Time Monitoring

News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/copec-exposes-major-oil-revenue-leaks-urges-real-time-monitoring/Ghana’s petroleum sector is hemorrhaging 350−350−450 million annually due to systemic underreporting of crude oil production, according to Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC). At an event marking Strategic Mobilisation Ghana Ltd’s (SML) fifth anniv…

COPEC flags mammoth loses in upstream sector

says ‘we produce 100,000 barrels, report 60,000’ translating into US$350m – US$450m annual losses urges SML Ghana’s real-time monitoring system By Ebenezer Chike Adjei NJOKU Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has raised fresh concerns over revenue leakages in the upstream petroleum sector, urging government and regulatory authorities to adopt real-time monitoring technologies to curtail losses and st…