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Nigerian oil company targets Ghana’s oil and gas sector

Ghana has become the attraction for major global players in the oil industries. Some of the companies that have shown interest in doing oil and gas business in Ghana include Royal Dutch Shell, China National Offshore Oil Company (CNOOC) and Indian state-run Oil & Natural Gas Corporation (ONGC). But there …

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No sign of companies relocating from Nigeria to Ghana, says BusinessDay

As the hoopla about the relocation of companies in Nigeria to Ghana continues, a Nigerian publication says despite media reports of relocation to Ghana because of the country’s power problems, these companies cannot be located in Ghana. A report carried by BusinessDay, which is also circulated in Ghana, says it …

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American investors won’t come to Ghana: It’s their money, not the President’s

President Obama came to Ghana to endorse the country’s good democratic process. In the midst of chaos, needless bloodshed, and tainted elections and accompanying violence in Africa, Ghana stands out on the continent as a good example. But beyond democratic stability, the country also needs economic stability and growth. In …

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Gold Fields to hit one million ounces of gold by 2011

Vice President John Dramani Mahama on Wednesday commended Gold Fields Ghana for plans to increase its current gold production level from 900 ounces to one million ounces from 2009 to 2011. He said government was also appreciative about the company’s effort in improving the lives of people in its operational …

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Ghana benefits from Bridge Investment Development programme

Business entities engaged in productive sectors in the Ghanaian economy are qualified for partnerships with investors in the Diaspora, under the Bridge Investment Development (BID) program. The BID program, an initiative of the Inter-regional Bridge Group (IBG), is aimed at supporting growth and development within the country, and actively engaging …

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IFC to increase investments in oil and gas in sub-Sahara Africa

International Finance Corp., the World Bank Group’s private-sector lending arm, plans to increase spending on sub-Saharan Africa’s oil and gas industry and sees “significant” opportunities in Ghana, Uganda and Tanzania. “Africa is a focus region for us,” Kamal Dorabawila, the IFC head of oil and gas in Africa, said in …

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Ghana to rehabilitate Takoradi Harbour at $700m for oil services

The Ghana Ports and Harbours Authority (GPHA) will be spending $700 million to rehabilitate the Takoradi Harbour, Ghana’s second sea port to make it ready for the country’s emerging oil industry, ghanabusinessnews.com has learnt. According to the information which did not indicate the source of the money, the acting Director-General …

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Ghana Stock Exchange All-Share Index continues gain

The benchmark GSE All-Share index of the Ghana Stock Exchange (GSE) opened the week slightly higher on a gain by Ghana Oil Company (GOIL). The index went up by 2.88 points to close the session at 5,352.72 points from Friday’s 5,321.84 points. Change for the year to date now stands …

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Gold Coast Security Gold Fund Unit Trust soaring high

Gold Coast Securities Limited Gold Fund product, one of the best performing collective investment schemes in Ghana, grew by 74.28 percent in value in 2008, despite the global economic downturn. The fund, the second unit trust to be established in Ghana after HFC Unit Trust, saw its value soared at …

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Tullow Ghana awards subsea contract on Jubilee field to Expro

Tullow Ghana Limited, a subsidiary of UK oil and gas exploration company Tullow Oil, has awarded a multi-million dollar contract to international oilfield service company, Expro to deliver subsea, well test and data acquisition services. The specific amount involved has not been mentioned. The services will be on the Jubilee …

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