Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Completion of gas project will boost revenue – BoG

refineryThe Bank of Ghana (BoG) has warned Ghana would lose a lot of revenue if the gas project is delayed any further.

The project has suffered a number of setbacks due to challenges with funding and government through the Chinese Development Bank (CDB) recently paid almost $200 million to Sinopec for work on the Ghana Gas Infrastructure Development project to continue after grinding to a halt.

The $700 million project when completed is expected to rake in substantial amount of revenue for the country.

Governor of the BoG, Dr Henry Wampah said it’s coming on stream will also see the country reduce its imports on oil.

“One area when developed well, which will add t o our capacity to generate foreign exchange revenue, is gas production. It is expected that the project will come on stream by the end of the year if we are able to do this we will save some amount of foreign exchange we use to import oil.”

Source: Citifmonline

Get the latest news and updates on Ghana’s oil and gas value chain by following us Reporting Oil and Gas on twitter @oilgasghana and like our facebook page and get at us on Google+. Subscribe to our group to get updates.

 

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar