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Oil & Gas

Ghana urged to use part of oil revenue to develop culture

Mr. Azaanab Waksman, Brong-Ahafo Regional Director, Centre for National Culture (CNC), on Friday appealed to the government to set aside at least five percent of the oil revenue to develop the country’s culture. He said cultural development had been neglected by successive governments for a long time and now that …

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Government urged to use oil revenue set up scholarship scheme

Dr Samuel H. Donkor, President of All Nations University College in Koforidua, on Thursday urged Government to use part of the oil and gas revenue to set up scholarship scheme for young people to pursue higher education. He noted that the measure would be beneficial to many brilliant but poor …

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Let’s find ways of employing graduates into the oil and gas industry – PSC

Mrs Bridget Katsriku, Chairman of the Public Services Commission (PSC), on Wednesday called for a national debate on how to unleash young potentials to take over the effective and efficient management of the oil and gas industry. She said Ghana had a large number of young graduates and professionals who …

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Tullow Oil to increase its expenditure on education

Tullow Oil Ghana Limited is to spend 80 per cent of its funds earmarked for the development of communities on education, Dr Anthony Aubynn, Director of Corporate Affairs of Tullow Ghana Limited has announced. He said the remaining 20 per cent would go into other social sectors such as health …

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Tullow, GNPC says oil production volumes from Jubilee Field are accurate

The Ghana National Petroleum Corporation and Tullow Ghana Limited, Operator of the Jubilee Field, on Wednesday assured the public that the measurement systems in place on the FPSO Kwame Nkrumah for crude oil “are accurate”. In a statement released by Tullow Ghana Limited, they said at the moment, the quantities …

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Global oil and gas sector valued at $270b

The number of announced transactions which took place in the oil and gas sector worldwide in 2010 were valued at $270 billion, according to financial group Ernst & Young (EY). The transactions include mergers and acquisitions in the sector. EY reports that 947 deals were made known in 2010, with …

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Ghana government officials mute over $23m payment from Kosmos Energy

Ghana government officials are not saying anything about payments totaling $23 million being made to government by Texas-based oil producer, Kosmos Energy. Kosmos Energy has said it is due to pay the government of Ghana an amount of $23 million as the company prepares to sell its shares on the …

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Tullow Oil to invest 50% of $1.5b global expenditure in Ghana

British oil producer, Tullow Oil, will invest about half of it’s capital expenditure for the year 2011 in Ghana, an official has disclosed. Tullow Oil has indicated that it will spend about $1.5 billion in all its operations globally, according to its Interim Management Statement (IMS) which was copied to …

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Oil is exhaustible – Minister

Alhaji Issahaque Salia, Upper West Regional Minister has observed that Ghana’s oil and gas find is exhaustible and should therefore be utilised judiciously for the growth of the economy. He advised Ghanaians to concentrate on deriving the maximum benefits from other resources such as gold, agriculture, tourism and telecommunication. Alhaji …

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Oil revenue must benefit Ghanaians – Dr Nduom

The Government has been tasked to utilise oil revenue for the benefit of Ghanaians, more specifically, the communities in the oil production area in a visible, positive and very significant way. Dr Papa Kwesi Nduom, Convention People’s Party (CPP) presidential candidate for Election 2008, who made the call, called for …

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