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Oil & Gas

Kosmos submits Declaration of Commerciality to Ghana, Tullow to issue 4 million shares on GSE

Kosmos Energy, one of the stakeholders in Ghana’s Jubilee oil field where Ghana’s first commercial production of oil is expected in December has submitted a ‘Declaration of Commerciality’ to the Ghana government. The Declaration, it says is for the southeast Jubilee area. And Tullow Oil plans to issue four million …

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Petroleum bills generate argument in parliament

The Majority and Minority in parliament, on Friday, debated over which of the two petroleum bills; the Petroleum Management Bill and the Petroleum Exploration and Production Bill, should be passed first. Mr Cletus Apul Avoka, Leader of government business, presenting the business of the House for the week ending November …

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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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