Audio By Carbonatix
State power generator VRA has started hedging its crude oil purchases for its operations.
The program which began last month, will see the state power generator hedge about 500,000 barrels of crude oil for the next 12 months.
It is expected to cost the Authority about 2 million dollars and at a hedge price slightly below 115 dollars per barrel.
The program would however allow the VRA to review the facility every two weeks.
“I will say the most important objective is to provide price certainty and cash flow certainty for budgetary purposes,” Chief Executive of VRA, Kweku Awortwi explained to Joy Business.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
IMANI Africa defends CSO intervention in Supreme Court case challenging OSP Act
2 minutes -
Ablakwa assures support for Ghanaian nationals in UAE amid regional tensions
9 minutes -
Asantehene @ 76: How Otumfuo celebrates his birthday
11 minutes -
2026 U20 WWCQ: Kurt Okraku visits Black Princesses camp ahead of Uganda second leg
14 minutes -
Enterprise Group PLC injects GH₵2.4m into maternal healthcare with new facility for Sunyani Hospital
15 minutes -
Macroeconomic progress not reflecting in living conditions of Ghanaians — APL report
16 minutes -
Annoh-Dompreh sues Bono Regional Minister, media house over cocoa smuggling claims; demands GH¢30m
17 minutes -
Thoughts of a Ghanaian youthÂ
20 minutes -
19-year-old student critically injured after being shot during Domeabra-Danchira demolition exercise
25 minutes -
NHIA CEO sets out key pillars for strengthening Ghana’s health system
33 minutes -
The Giant Stirs: How Tema Shipyard’s new leadership is betting big on Ghana’s claim to West Africa’s maritime throne
34 minutes -
2026 U20 WWCQ: Black Princesses depart Ghana for Uganda second leg
39 minutes -
COLORBOND vs Aluzinc: Which roofing sheet should you actually buy for your Ghana Home in 2026?
40 minutes -
Sudan recalls top envoy, accusing Ethiopia and UAE of directing drone attacks on airportÂ
41 minutes -
CMC MD courts global investors in London to back President Mahama’s cocoa sector reforms
50 minutes