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Oil & Gas

Ghana, Kosmos Energy still not settled over Jubilee field

A crucial meeting between the government and Kosmos Energy to deliberate on the latter’s move to sell its stake in the Jubilee Fields to ExxonMobil ended inconclusively in Accra Tuesday. The meeting, which lasted for less than three hours, was intended to allow both parties to carefully study the existing …

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Use oil revenue to develop Ghana’s infrastructure – Dr Sachs

A development economist, Dr Jeffrey Sachs on Tuesday advised Ghana to invest her oil revenue in development projects such as construction of more schools, hospitals, roads and other infrastructure that would benefit all Ghanaians. Speaking at the Millennium Cities Initiative Accra Partners Conference, Dr Sachs said it was important to …

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Is Ghana ready for an oil economy?

Ghana is set to join the world’s league of oil producing countries when commercial production of oil begins in the country in the last quarter of the year. The first 120,000 barrels of oil is expected in November, according to Tullow Oil, the major stakeholder in Ghana’s nascent oil industry. …

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Communities within catchment area should benefit most from Ghana’s oil – EPA

Communities within the Oil drilling catchment areas should benefit most from Ghana’s Oil find, Mrs Sheila Ashong, Programme Officer at the Environmental Protection Agency (EPA) has said. She said: “The people own the resource; therefore they should be involved in every level of decision making with regards to the oil …

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Religious group demands review of Ghana’s petroleum agreement

Reverend George N. Kotey, Director-General of Ghana International Institute for Bible and Evangelistic Ministry (GIIBRAEM) on Wednesday, called on Parliament to review the numerous lapses in the Petroleum Agreement with International Oil Companies (IOCs). He noted that the entire process is not transparent, and must be rejected to ensure that …

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People of Western Region asked to decide on usage of oil money

Mr. Paul Evans Aidoo, Western Regional Minister, on Thursday called on people in the region to make suggestions on the management of revenue that would be generated from the oil discovery. He noted that the people were not united on the matter and many divergent views have been expressed. Mr. …

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Tullow Oil says Tweneboa, Jubilee have total of 2.9 billion barrels of oil

The major stakeholder in Ghana’s nascent oil and gas industry, Tullow Oil says two of the major oil fields in the country contain 2.9 billion barrels of oil and gas. The Wall Street Journal citing information on Tullow Oil’s website says the Tweneboa oil field contains up to 1.4 billion …

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Mills lauds Singaporean discipline, expertise in constructing FPSO

President John Evans Atta Mills on Wednesday lauded Singaporean discipline and her expertise in the construction of the Kwame Nkrumah Floating, Production, Storage and Offloading, (FPSO) facility. The facility, now anchored at the Jubilee Fields in Takoradi in the Western Region, sets the tone for the production of oil by …

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NGO urges government to delay spending of petroleum revenue

Government has been asked to delay spending of all petroleum revenues until institutions charged with public financial management are strengthened through the enactment of right laws and regulations. The Civil Society Organisation (CSO) on Oil and Gas at a press conference in Accra on Wednesday said if such revenues were …

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We’ll account for every pesewa of oil money – Mills

President John Evans Atta Mills has interacted with a delegation from Tullow Oil and assured Ghanaians that the government would account for every pesewa which would accrue from oil revenues in the country. He underlined that the government held resources of the country, including the huge oil deposits in trust …

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