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


News in Brief

Ghana to be sub-regional petrol hub

oilfunnelPresident John Mahama has said he intends making Ghana a hub in the sub-region for petroleum distribution.

“Mr Speaker, on the downstream level, our vision is to create Ghana as a hub for petroleum distribution in the sub-region,” he said.

“Already BOST (Bulk Oil Storage and Transportation) has begun supplying petroleum products to the landlocked countries of Burkina Faso, Niger, and Mali from their Bolgatanga depot,” Mr Mahama told Parliament on Thursday February 25, 2016, when he delivered the last of his State of the Nation addresses for his first term.

Mr Mahama also said local firms and personnel had benefitted from the local content law passed by Parliament in connection with the oil and gas sector.

The president said: “Mr Speaker, in the energy sector, government in 2013 formulated the local content and local participation policy. Mr Speaker, approximately 7,000 people have been employed in the upstream sector of the oil and gas industry: 5,590 Ghanaians and 1,350 expatriates.

“Out of the 474 companies registered with the Petroleum Commission, 321 are indigenous companies and 46 are joint ventures. Out of the total value of 6.3 billion contracts awarded, from 2010 to 2015, over $1 billion have gone to indigenous companies. Mr Speaker, specifically, as of the third quarter of 2015, $201,072,000, representing 41 per cent of a total of $792, 623,000 worth of investments for the year was awarded to indigenous companies.”

Source: http://classfmonline.com/1.8718529

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