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Oil & Gas

Ghana government to ensure 50% local content in oil sector

The Minister of Environment, Science and Technology, Ms  Sherry Aryitey, on Thursday expressed government’s intention to  ensure “50 per cent local content” in the  oil and gas find. She said there would be fair distribution of the gains of the oil industry in order for Ghanaians to have a feel …

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LUKOIL of Russia hopeful of more oil in Ghana

The second largest Russian oil producer, LUKOIL is optimistic it will hit oil in commercial quantities in Ghana. A Reuters news service report cited LUKOIL’s vice president for overseas saying its offshore oil exploration project in Ghana will almost certainly lead to commercial exploitation. LUKOIL, the report says leads an …

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Government asked to safeguard Ghana’s future in deciding on oil

The Ghana government has been urged to put in measures that will safeguard the future of Ghana as it decides on the country’s new found natural resource, oil. Speaking in an exclusive interview with ghanabusinessnews.com, Dr. Kwame Ampofo, an energy expert and immediate past CEO of the Tema Oil Refinery …

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Ghana, Japan sign pact to develop methanol from country’s oil

Ghana and Japan on Friday signed a Memorandum of Understanding to explore the possibility of the establishment of a large scale methanol plant in Ghana using the country’s newly found oil resources. Methanol is an alternate fuel for internal combustion and other engines, either in combustion with gasoline or used …

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Local leaders call for comprehensive response systems to oil disaster

Traditional Rulers, Civil Society and Community Based Organisations (CBOs) in the Western Region, have called on duty-bearers in the oil and Gas industry to, as a matter of urgency, develop a regional capacity for adequate and comprehensive responses to any disaster or mass casualty that may result from the activities …

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Addae-Mensah warns Ghanaians about euphoria over oil find

Ghanaians have been cautioned against being euphoric over the country’s oil find, and avoid contracting loans in anticipation of the revenue to be derived from the oil. A former Vice-Chancellor of the University of Ghana, Prof. Ivan Addae-Mensah who sounded the caution at a development forum in Takoradi, urged that …

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Second rig for Jubilee oil field by December

Ghana will have a second oil rig nicknamed “Millennium” by December at the Jubilee Oil Field at West Cape Three Points in the Western Region. The rig will boost the Floating Production and Storage Offloading (FPSO) facility to be able to work effectively as the country explores its oil deposits. …

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Oil alone can’t make Ghana middle-income nation by 2015 – Mahama

Vice President John Dramani Mahama, on Monday stated that revenue from oil alone cannot transform Ghana into a middle income status by the projected 2015 timetable. He therefore expressed the need for the country to strengthen its economic ties with its development partners to pave way for the fulfilment of …

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Finance minister says no sector will play second fiddle to oil and gas

Government would ensure that sectors such as agriculture and mining do not play second fiddle to oil and gas in the development of the Ghanaian economy, Finance Minister Dr Kwabena Duffuor reiterated on Monday. Speaking at the opening session of the high level session of the consultative group meeting, he …

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