The oil find in neighbouring Ivory Coast will have no impact on Ghana’s fields, Tullow Oil, operator of the Jubilee Field, has said. France’s Total announced about three weeks ago it has struck oil on a block off Ivory Coast adjacent to Ghana’s giant Jubilee oil and gas field, leading to questions about whether a possible territorial dispute could arise between... Read more
Archive for the ‘News in Brief’ Category
Offshore Africa: The Next Oil and Gas Hotspot?
May 17 | Posted by oilgas | News in BriefEver since the late 1950s, when commercial quantities of oil were first discovered in Nigeria’s Niger Delta basin, West Africa has been an area of interest for oil and gas exploration and production companies. But a host of challenges, many of them related to threats of violence and corrupt political regimes, dissuaded many of the world’s leading energy companies from... Read more
Oil becomes Ghana’s second main export with value of $3b in 2012
May 16 | Posted by oilgas | News in BriefCrude oil is now Ghana’s second main export, increasing moderately in the past two years from $2.7 billion in 2011 to $3 billion in 2012, according to Standard Chartered Research. Gold is the country’s highest foreign exchange earner. In its Outlook on Ghana released May 14, 2013, it noted that Ghana became an oil producer in December 2010, with an estimated 85,000... Read more
Government launches Enterprise Development Centre in Takoradi
May 16 | Posted by oilgas | News in BriefThe government has launched an Enterprise Development Centre in the Western Region to build the capacity of Ghanaian small and medium scale enterprises to fully take part in the opportunities in the oil and gas sectors of the economy. The Centre would help small enterprises to position themselves to take advantage of business opportunities in the new sector to ensure... Read more
The 2013 Revenue Watch Institute Resource Governance Index Report
May 15 | Posted by oilgas | News in BriefThe Revenue Watch Institute (RWI) has launched the 2013 Resource Governance Index (RGI) report which is a measure of transparency and accountability in the oil, gas and mining sector of 58 countries. The report seeks to promote the effective, transparent and accountable management of oil, gas and mineral resources. One of the key findings in this year’s report is that only... Read more
Tullow invested 669 million dollars in Ghana last year
May 15 | Posted by oilgas | News in BriefAs part of its commitment towards the socio-economic development of the country, Tullow Oil plc in 2012 invested 669 million dollars as part of its corporate social responsibilities. Out of the amount 114 million dollars was spent on developing the capacity building of Ghanaian registered businesses, which supply and provide services to the company. This became known when Mr Aidan Heavey, Chief... Read more
Oil production threatens fish catch
May 14 | Posted by oilgas | News in BriefFisher folks in the coastal communities of the Western region have complained about the dwindling fish catch due to the negative impact of the oil and gas exploration and production. The operations of the Jubilee Oil and Gas field, and fishing activities of surrounding communities in the Jomoro District is intertwined. The imposition of a ban on fishing within 500 metres... Read more
Atuabo gas project to propel more growth
May 13 | Posted by oilgas | News in BriefThe multi-million dollar Atuabo gas project is poised to become the number one revenue generating venture by the government, industry experts have said. They said the project, when fully functional by December this year, could pay off the investment cost and other projects financed by the loan from China in less than five years. The experts say the decision by Ghana to... Read more
Annan calls for end to ‘unconscionable’ exploitation of Africa’s resources
May 10 | Posted by oilgas | News in BriefKofi Annan, the former UN secretary-general, is urging David Cameron to use Britain’s chairmanship of the G8 to end some of the “unconscionable” practices of companies exploiting Africa’s vast reserves of natural resources. The prime minister has promised to put trade, transparency and tax at the top of the G8′s agenda when he hosts the leaders of the world’s major nations... Read more
Demand Accountability and Transparency on Mineral Revenues – Kofi Annan
May 10 | Posted by oilgas | News in BriefFormer United Nations Secretary-General and President of the Africa Progress Panel Foundation, Mr. Kofi Annan, has bemoaned corruption in the management of mineral revenues by African leaders. He calls for the involvement of Civil Society and the general public to demand accountability from leaders. Watch full video here ... Read more
