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GNPC to lift second crude oil consignment, Thursday

Ghana is expected to begin lifting its second consignment of crude oil from the Jubilee Field on Thursday.

The transfer of the almost one million barrels from the FPSO Kwame Nkrumah is expected to last nearly the whole day.

The consignment which is owned by the Ghana National Petroleum Corporation would be marketed by Cirrus Energy and Vitol.

The country earned $112 million from the sale of its first share of crude oil from the Jubilee field. It lifted close to a million barrels then.

The Jubilee partners have so far lifted 8.4 million barrels of crude since crude production began in commercial quantities.

Meanwhile, the Ghana Revenue Authority has reiterated its challenges in fulfilling its mandate with regards to the Jubilee Field operations but maintains the country is not being shortchanged.

Thursday’s lifting however comes at a time when concerns have emerged about whether the country is getting all the revenue due it from the crude oil being produced in the Jubilee Field.

The GNPC has confirmed that the flow meters on the export pipeline are not functioning properly but that they will be replaced by July.

Director of Exploration and Production at GNPC, Thomas Manu told Joy News new flow meters have been ordered but takes a while to produce them.

He was however convinced that the improvised measuring systems are transparent enough and would not lead to corruption.

But the Ghana Revenue Authority maintained its difficulty is with metering from the field to the intake point of the FPSO storage tank.

Deputy Commissioner in Charge of Communications and Public Affairs, Francis Kofi Andoh however insisted they have no problem verifying the volumes of crude oil being sold, insisting every pesewa is accounted for.

http://news.myjoyonline.com/business/201105/66008.asp

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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
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