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Govt's management of oil resources commended PDF Print E-mail

By Lawrence Markwei & Albert Larkai

THE Institute of Economic Affairs (IEA) has given the government thumps up for the progress made to enhance transparency in the management of the oil and gas resource of the country. In a report prepared by the IEA on Petroleum Transparency and Accountability Index (IEA-P-TRAC INDEX) 2011, the government scored an average of 59.7 per cent against a bench work of 60 per cent.

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World Bank (WB) has tasked West African mining companies to procure more equipment, supplies and services from local companies to boost economic growth in West Africa. “Increasing local procurement by the Mining Industry in West Africa will spread the benefits of mining more evenly across a country’s economy, creating jobs and stimulating the sustainable development of local enterprises,”.

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Duffuor Inaugurates Team To Review Mining Stability Agreements PDF Print E-mail

The Government today set up a seven-member team to review and re-negotiate stability agreements it had entered into with some mining companies to ensure that the country derived maximum benefits from its resources. Finance Minister Dr Kwabena Duffuor, who inaugurated the team, said the review was necessary as the nation had benefited little from dividends and record world prices of gold.

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Tullow sets production projections for 2012 PDF Print E-mail

TULLOW Oil says it expects production at its Jubilee oil field to average between 70,000 and 90,000 barrels of oil equivalent per day (boepd) for 2012.

"Gross Jubilee production is currently over 70,000 boepd and following a number of remedial activities, it is expected to average 70,000 to 90,000 boepd in 2012," the company said in a trading statement and operational update.

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Opening Remarks By Mr. Enoch H. Cobbinah Chairman of GHEITI NSC, Chief Director, MOFEP PDF Print E-mail

GHEITI Annual Retreat Sogakope, Villa Cisneros Hotel - January 6-9, 2012

Colleague Chief Directors and Ghana EITI National Steering Committee Members,

Good morning and happy new year to you all.

1.     I have been informed that the objective of this meeting is to take stock of the EITI implementation in 2011 and plan for 2012. It is a nice way to start the New Year with an assessment of our work in 2011 and a discussion of strategies for 2012.

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