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Oil & Gas

Civil society to contest Ghana oil bill

The Civil Society Platform on Oil and Gas says it will seek a review of the amendments to the Petroleum Revenue Management Bill that allows the government to use about 70 per cent of the country’s oil revenue as collateral. The Platform said it was aware that before amendments to …

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As Ghana pumps first oil country has no petroleum law

Today Wednesday December 15, 2010 Ghana makes history as the country joins the world’s oil producers. The country will officially pump its first commercial oil from the largest oil field in West Africa, the Jubilee field. And Tullow Oil describes the development as “the fastest ever full-scale comprehensive deep water …

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Government will take precautionary measures in oil exploitation – Vice President

Vice President John Dramani Mahama on Tuesday reassured Ghanaians that government would implement all necessary precautionary measures that would help avoid the mistakes of other oil rich countries. “We started learning from other countries that had over the years exploited oil and I can assure you that they have been …

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Oil contributes over $550m of $1.3b FDI in Ghana

In less than 24 hours, Wednesday December 15, 2010 Ghana would pump its first oil in commercial quantities from the Jubilee oil fields and the country will become one of the world’s producers of oil. The Jubilee oil field is the largest to be discovered in West Africa in the …

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CHROG sensitizes communities on oil and gas issues

The Coalition on Human Rights, Oil and Gas (CHROG) has undertaken community sensitization and education on human rights implications of oil and gas exploration and production in six districts of the Western Region. Dr Steve Manteaw, Chairman of the CHROG, announced at a press conference at Sekondi at the weekend. …

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3,000 people listed for training in oil industry

The Management Development and Productivity Institute under the Ministry of Employment and Social Welfare has developed a training course in oil and gas to meet the demands of the emerging oil and gas industry in Ghana. Mr Enoch Teye Mensah, Minister of Employment and Social Welfare made this known to …

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Parliament amends Clause 5 to collateralize Ghana’s oil

Parliament has amended the Clause 5 of the Petroleum Management Bill to allow Ghana to collateralize the country’s oil revenue. Information reaching ghanabusinessnews.com from the floor of Parliament says the amendment was done today Thursday December 9, 2010. Clause 5 as approved by Cabinet and presented to Parliament reads: 5(1) …

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Group calls on banks to stop funding Kosmos Energy

A group calling itself the Western Sahara Resource Watch (WSRW) says it has asked international banks to stop further funding of Texas-based energy company, Kosmos Energy. According to the group their action is in reaction to Kosmos Energy’s exploration activities offshore the disputed Western Sahara. In a press release signed …

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Numerous amendments to Petroleum Management Bill confusing – Joe Ghartey

Parliament on Wednesday adjourned unceremoniously over innumerable amendments on the Petroleum Management Bill. The unusually bulky 61 page Order Paper for the day had 256 amendments which according to Mr Joe Ghartey, New Patriotic Party (NPP) Member of Parliament (MP) for Esikadu/Ketan, was confusing. “The amendments are just too many …

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Civil Society Platform backs Heritage Fund, but says no to oil-backed loans

The Civil Society Platform on Oil and Gas has pledged support for a Heritage Fund, as proposed in the Petroleum Revenue Management Bill before Parliament, saying its deletion would be a subversion of the peoples’ will. It said the rationale, was not just to put money away for future generations …

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