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Oil & Gas

TUC cautions Parliament against amendment of petroleum bill

The Ghana Trades Union Congress (TUC), has demanded an immediate halt to attempts by members of the Joint Select Committee of Parliamentary on Energy and Mines and Finance to amend provisions in the Petroleum Revenue Management Bill. Mr Kofi Asamoah, Secretary General of the TUC, who made the appeal noted …

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Government cautioned not to fund STX housing project with oil money

Mr Kofi Asamoah, Secretary General of the Trade Union Congress (TUC), has cautioned Government not to use proceeds from the oil industry as collateral for the XTS Korea Housing Project. He said that even though Government was obliged to provide housing for security agencies and the entire country, the oil …

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TUC cautions government against stability clauses in oil agreements

The Sekondi-Takoradi District Council of Labour on Thursday cautioned the government against inserting stability clauses in agreements with international oil companies that are doing business in the country, because it could create problems in future. At a meeting in Takoradi, the council said stability clauses lock up parties into agreements, …

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Ghana government urged to address local discontentment on oil find

Participants at a Workshop on Foreign Policy in Ghana’s Emerging Oil Economy have called on Government to address promptly and peacefully any local discontentment that might emerge from the oil find. They contended that this should be done through dialogue, mediation, institutional capacity building and enforcement of corporate responsibility and …

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GTUC urges government to review oil agreements

The Trades Union Congress (TUC) on Wednesday called on the government to review stability clauses in the oil agreements it had signed with International Oil Companies (IOC) to maximise benefits to the people. In addition, government must desist from signing new contracts that contained stability clauses. Mr Kofi Asamoah, Secretary …

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Tullow to produce Ghana’s first 50,000 barrels of oil in December

Ghana will become an oil production country early in December when Tullow Oil produces the first 50,000 barrels of oil. Tullow Oil has said in an Interim Management Statement issued Wednesday November 10, 2010 and copied to ghanabusinessnews.com that the first oil from Jubilee Phase 1, which Tullow describes as …

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Group calls for withdrawal of Petroleum Bill from Parliament

The Patriots for the Protection of Western Regional Heritage, a pressure group, on Tuesday called on the government to immediately withdraw the Petroleum Revenue Management Bill (PRMB) from Parliament. Mr George Mireku Duker, a leading member of the group, told a press conference that the Bill needed further and broader …

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IEA proposes changes to oil and gas laws

The Institute of Economic Affairs (IEA) has proposed a number of amendments to the Constitution to engender fiscal disci­pline in management and use of rev­enues from the oil and gas sector. “The IEA is of the view that the resource curse is by no means automatic and that it is …

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How Oando of Nigeria got the world media into ‘lap dog’ mode over Ghana gas sector deal

Oando Plc is a Nigerian oil and gas firm, which seems to have a very effective public relations (PR) outfit that has succeeded in getting the world’s media into ‘lap dog’ mode by reporting a false press statement it put out on Sunday October 4, 2009. The media momentarily lost …

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Ghana asked to formulate national policy on use of gas

Mr. Frank Opoku Adjapong, a leading member of the New Patriotic Party in Brong-Ahafo, on Tuesday called for a national policy to regularize the installation and use of liquefied petroleum gas for commercial vehicles. Speaking to the Ghana News Agency (GNA) in an interview, at Sunyani, Mr. Adjapong noted with …

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