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Oil & Gas

Chartered Institute of Bankers organizes workshop on oil and gas industry

The Chartered Institute of Bankers (CIB), on Monday organized a four-day workshop in Accra, on letters of credit, to build the capacity of bankers and stakeholders in the oil and gas industry. The workshop is to ensure that participants are ready to take delivery of oil and to transact business …

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Oil companies in Ghana can’t flout laws – Ablakwa

Government will ensure that oil companies comply with the laws of the country as well as with business agreements, Mr Okudjeto Ablakwa, a Deputy Minister of Information on at the weekend said. He was speaking at a public forum on the oil find organized by the Committee for Joint Action …

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PEF calls for provision of skills training for Ghana’s oil industry

The Private Enterprise Foundation (PEF) on Thursday called on the government to focus on standardization and skills development for local operators in the emerging oil industry which would be crucial in achieving the 90 percent local content by 2020. The foundation said the government simply developing local content policies by …

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Ghana asked to invest oil revenue in infrastructure development

Mr Kyle Whitehill, Chief Executive Officer of Vodafone Ghana has urged government to ensure that revenue to be derived from the emerging oil industry is used for infrastructure development. “The oil sector has the capacity to sustain accelerated development of the country, “he added. Mr Whitehill said that he was …

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Workshop on oil calls for livelihood security, environmental protection

Participants at a workshop on the oil and gas industry have stressed the need for an immediate government’s attention on livelihood security and protection of the environment. In addition, government should put in place the necessary mechanisms to ensure coastal communities were not marginalised in the benefits from the petroleum …

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Expert warns that oil revenue expectation is threat to Ghana’s security

Dr Kwesi Aning, a Security Expert, has expressed dissatisfaction over false optimism some politicians have whipped up in the public over expected revenue in the oil and gas industry, describing the situation as unfortunate. He said the false expectation which was used as propaganda toolby some politicians during the Election …

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Tullow Oil completes $1.45b equity placing for Ghana, Uganda activities

The major stakeholder in Ghana’s Jubilee oil field, Tullow Oil has completed equity placing worth $1.45b to support its activities in Ghana and Uganda. According to a press release issued by Tullow Wednesday August 25, 2010 and copied to ghanabusinessnews.com, the company indicates that its full year production forecast increased …

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Aureos Africa Fund eyes Ghana’s oil and gas sector

A private equity fund, Aureos Capital sets eyes on Ghana’s emerging oil and gas sector. The company which already has investments in other sectors in Ghana believes the oil and gas sector is ‘interesting’ the Vanguard, a Nigerian publication has said. An investment executive Kodjo Asiagbe was quoted as saying …

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Ghana’s Jubilee oil field said to contain 1.2 trillion cubic feet of gas

Ghana has 1.2 trillion cubic feet of gas in the Jubilee field, which could meet the requirement of 15,000 barrels of crude oil needed to operate the Aboadze Thermal Plant. There are 1.8 billion barrels of crude oil (recoverable reserves) in the Jubilee field, making it the single biggest in …

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