Kosmos Energy’s listing on the Ghana Stock Exchange still hangs in the balance as the Securities and Exchange Commission (SEC) says there is no word yet from the company. Reports were rife that the Jubilee Oil field partner would list on the Ghana bourse by the end of 2011 but SEC later said correspondence from the company indicated first quarter of... Read more

The government’s projection of oil receipts from the Jubilee Fields is likely to be missed this year. This is because the first quarter of the year is already gone and Tullow Oil, as a result of some challenges, is still producing oil at 70,000 barrels per day as against a projected target of 90,000 on which revenue projection has been based. As... Read more

Academic institutions across the country has been urged to look into how best local content in the oil sector could best be developed to benefit the citizenry. Professor Kwamina Panford, a visiting Fulbright Scholar at the Institute for Development Studies at the University of Cape Coast (UCC) made the call at a lecture on “The academia and the successful management of... Read more

Tullow Oil Plc says it expects to secure approval to commence work on a second field TEN in the third quarter of this year. Aidan Heavey, Chief Executive Officer, Tullow Oil Plc, who announced this said good progress, was made in appraising the TEN discoveries last year and that the company target is to produce 100,000 barrels-per-day from the field. TEN is... Read more

Government has approved payment of compensations to farmers to be affected by the Domunli Gas Project in the Jomoro District of the Western Region. It was to ease tension between affected farmers and workers at the project site. Mr Sylvester N. Dattieh, Jomoro District Chief Executive said this at Takinpa near Half Assini on Monday, when he met the enclave farmers of... Read more

The President of the African Development Bank (AfDB) has said the phenomena known as the ‘oil curse’ is not pre-ordained. This is the case where majority of citizens in oil countries live in poverty due to mismanagement of oil revenues. Dr. Donald Kaberuka was answering questions from journalists on Ghana’s oil and the country’s development future at the Bank’s headquarters in... Read more

American oil firm Kosmos Energy on May 3, 2012 terminated the acquisition agreement to buy Sabre Oil’s 4.05% interest in the Deepwater Tano Block, offshore Ghana. The termination was effected after both parties reached a “mutual agreement”. “Kosmos Energy…has reached a mutual agreement with Sabre Oil & Gas Holdings Ltd. (Sabre) to terminate the acquisition by Kosmos of Sabre’s participating interest in... Read more

No oil in commercial quantity was found at the Teak-4A appraisal well, located in the West Cape Three Points (WCTP) Block, offshore Ghana, partners at the Jubilee fields announced May 3, 2012. The Teak-4A well was targeting the stratigraphic extension of the Teak discovery area, but Kosmos Energy, who is the operator of the WCTP with a 30.8% interest, said “the... Read more

China’s largest oil trading firm, UNIPEC has taken over the marketing of Ghana’s share of crude Oil from the Jubilee field. JOYBUSINESS has learnt the firm took over the role from January this year. This was after the Ghana National Petroleum Company decided not to review its contract with Vitol and Woodfields which ended last year. UNIPEC is expected to market Ghana’s crude... Read more

The West Africa Network for Peacebuilding, (WANEP-Ghana) is to establish a Coastal Platform Committee aimed at promoting dialogue in the oil and gas sector. Mr. Justin Bayor, Network Coordniator told the GNA at a Regional Information sharing meeting on the project, “Fostering Citizen Dialogue in Peace Building”, (FOCIDIP) that it was crucial to mitigate any upheaval that may arise as a... Read more