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

News in Brief

GNPC asked to provide disclosure on $100M Karpower guarantee

Alex MouldParliament has issued a 10-day ultimatum to the Ghana National Petroleum Corporation (GNPC) to provide full disclosure on contract details of the $100 million Karpower ship guarantee and the construction of a new office building.

This followed the approval of the GHS2.6 billion budget for the corporation after three unsuccessful attempts.

Members of the Minority had on those occasions succeeded in blocking the approval after arguing that GNPC was veering off its core mandate of petroleum exploration and rather providing guarantees and loans to some state institutions.

The Second Deputy Speaker of Parliament, Joe Ghartey, issued the directive after the house approved the budget Tuesday June 7.

He said: “The work programme is approved because the motion has been carried, but this is subject to GNPC providing further details on the following expenditure items in the corporation’s 2016 budget and work programme, the items being the new head office building including its location and the guarantee for Karpower ship… I am, therefore, directing GNPC to submit details of the above to the house latest by Friday 17 June, 2016. Additionally, this house serves notice on GNPC that henceforth, the house will demand and approve their activities before their budget for the ensuing year is approved.”


Profile photo of Editor
Follow Us

Profile photo of Editor
Follow Us

Latest posts by Editor (see all)

Share this article

Leave a reply

Personality of the Month
Follow Us Online
About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes ( with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Jan 2018 >>
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 4
Twitter Activity Stream

Partners We are proud to be associated with:

Skip to toolbar