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Oil & Gas

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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Workers in petroleum sector attend seminar on oil and gas

Mr. Emmanuel Armah- Kofi Buah, Deputy Minister of Energy, on Wednesday said Ghana’s discovery of oil and gas in commercial quantities had raised the expectations and hopes of many Ghanaians that needed to be managed. It also implied an acceptance of a challenge to participate in a new kind of …

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Kosmos Energy cancels sale deal of Ghana Jubilee oil field to ExxonMobil

Kosmos Energy says it has cancelled its sale deal of Ghana’s Jubilee oil field to ExxonMobil. The protracted sale deal was cancelled today, according to a report by the Wall Street Journal. According to the report Texas-based Kosmos said it was now focused on developing the huge Jubilee oil field …

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Christian Coalition urges proper management of Ghana’s oil

Representatives of Christian Coalition have underscored the importance of employing best practices in ensuring prudent management and equitable distribution of the country’s expected oil and gas wealth. The Coalition, made up of the Christian Council of Ghana (CCG) and the Ghana Pentecostal Council (GPC), expressed the hope that the best …

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Will Ghana choose China over ExxonMobil for Kosmos’ Jubilee stake?

The government of Ghana about a week ago indicated in a press release that it will soon decide on the Kosmos Energy-ExxonMobil Jubilee stake issue that has become thorny over the period. The government pledged to do ‘whatever it takes within the law to protect the national interest at all …

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NGO says oil not for people of the catchments area alone

A former District chief Executive for Jomoro and Executive Director of the Centre for Social and Community Advancement, a non-governmental organisation, Mr Ketiboa Blay, has said that by law the people of Jomoro District are not the exclusive owners of oil and gas find in the Jubilee Field but for …

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