The Petroleum Commission (PC) has dismissed claims that Ghana’s passage of the Local Content and local participation act could possibly dampen investor confidence making Ghana unattractive for foreign investments.
Parliament last week passed the Act that will promote Ghanaian participation in the oil and gas sector.
Its passage has raised concerns from International Oil companies (IOC) who have expressed fears of the impact it will have on their businesses.
Acting Chief Executive officer the Commission, Nii Agyei Akpo told Citi Business News, the laws have always existed.
He said they were given legal backing and hence the IOCs should have no course for alarm.
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