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GNPC to lift Jubilee crude cargo in March

The Ghana National Petroleum Corporation is set to lift its Jubilee crude cargo by the second week of March.

The proposed date is March 12 or 13. Officials disclosed this to Joy Business in an emailed response to questions on a variety of issues.

Investigations by Joy Business’ George Wiafe indicate GNPC will be the fourth partner to lift after Tullow and two other partners.

According to the schedule agreed amongst the partners, the lifting will be done according to the partners’ interest in the field.

It says it is working closely with the partners to obtain the best price for the crude and expects to sell it at a price slightly higher than Brent crude which is currently trading at 97 dollars.

The corporation noted that it is evaluating proposals from world class oil traders and consumers as well as leading Ghanaian bulk distributors of refined petroleum products in order to select a suitable partner.

It says it will be doing its second lifting possibly on the 30th or 31st of May this year. It however adds that the lifting dates could change depending on production, stocks and terminal operations.
http://news.myjoyonline.com/business/201101/60196.asp

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