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Oil & Gas

2012 Budget Statement: Ghana to allocate specific funds for hedging of crude oil imports

Ghana is set to announce a specific budgetary allocation to fund hedging of crude oil imports which started October 2010 when the 2012 budget statement is read next month November, an official at the Ministry of Finance and Economic Planning (MoFEP) has disclosed without given details. The country sometimes funds …

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Illegal oil deals in Takoradi

Crews on board some merchant and supply vessels that call at the Takoradi Port engage in illegal bunkering of large volumes of petroleum products for cash at the Takoradi anchorage. The danger, however, is that the perpetrators engage state security personnel in uniform to give them cover during their operations. …

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Seadrill inks $204m deal with Tullow Oil for offshore Ghana rig operation

Norwegian rig outfit, Seadrill says it has been awarded a one-year contract by Tullow Oil Ghana Ltd., a subsidiary of Tullow Oil plc, for operations offshore Ghana with the new-build ultra-deepwater semi-submersible rig. The rig is known as West Leo. “The potential contract revenue for the one-year period is $204 …

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Ghana produces 16.7 million barrels of crude oil, earns $337m from January to September 2011

Since became an oil producer on December 15, 2010, the country has produced 16.7 million barrels of oil from January to September, 2011, the Minister of Energy has said. Speaking to journalists at a news conference in Accra October 6, 2011, Dr Joe Oteng Adjei said all partners in the …

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