Africa Oil and Gas news and related events in the sub region
ACCRA, Ghana – Africa’s largest independent oil company, Tullow Oil plc (‘Tullow’), today kicked off a business initiative aimed at attracting and facilitating further investment in the continent. Known as “Invest in Africa”, the programme aims to encourage long-term investment across the continent to help build and develop local capacity, boost domestic job markets, develop skills...
Tullow Oil Plc, the lead company in Ghana’s oil production, said on Wednesday that it expected production at the Jubilee oil field for 2012 to average between 70,000 and 90,000 barrels. “Gross Jubilee production is currently over 70,000 barrels per say and following a number of remedial activities is expected to average 70,000 to...
Participants in the 63rd Annual New Year School and Conference (ANYSC) have called for transparency in the oil and gas sector by the publication of receipts and records of revenues, as well as a tracking system for the use of these revenues. They were of the view that the revenues accruing from oil had...
The Dean of the Faculty of Social Sciences of the University of Ghana, Legon, Prof.Samuel Agyei-Mensah has asked the government to direct oil companies to put up permanent structures for their operations in the Western Region, instead of renting. He said the practice among oil companies was that they rarely developed permanent structures in...
The Ghana National Petroleum Corporation (GNPC) says claims of ownership of some of Ghana’s oil fields by neighbouring Cote d’Ivoire do not have merit and will not disturb the country’s oil production in anyway. According to the GNPC, the boundaries between Ghana and Cote d’Ivoire had been very clear and undisputed and any new...
By Kwasi Kpodo, Reuters – Ghanian President John Atta Mills on Monday said he was confident of winning a second four-year term this year though he conceded it had been a painful decision to cut fuel subsidies, a move that has sparked violent protests in nearby Nigeria. Ghana, the world’s second biggest cocoa producer,...
Ghana’s recent economic growth fueled by oil production will not be spared the activities of money laundering and illicit financial transactions, the Ghana Financial Intelligence Centre (FIC) has alerted. The Ghanaian economy is expanding and more investors are coming. The International Monetary Fund (IMF) projected the economy grew at least 13.5% in 2011. The...
Siem Offshore, a shipping company engaged in the provision of marine services to the offshore oil and gas industry, says it has entered into a contract with the Ghanaian subsidiary of Italian-based oil company Eni to provide two platform supply vessels (PSVs) for its operations offshore Ghana. The two PSVs are Siem Louisa and...
Nico Colombant –While piracy attacks off the coast of unstable Somalia have garnered lots of attention in recent years, maritime security experts say it is on Africa’s western coast, in the oil-rich Gulf of Guinea, where piracy attacks are currently on the rise. Militants hidden behind bandanas from Nigeria’s Niger Delta oil region...
By Timothy Gobah — President John Evans Atta Mills has said the unanimous endorsement by the International Monetary Fund (IMF) of a non-concessional borrowing limit of US$3.4 billion for Ghana is an indication of the confidence reposed in the country’s economy by the international community. He said the approval by the IMF had now...
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