Saturday, 04 September 2010 04:38

The first bulk of 120,000 barrels of all to be pumped out of Ghana’s Jubilee Field in the Western Region is now expected in November this year, instead of December as earlier envisaged.

In readiness for that breakthrough, the Vice-President, Mr. John Dramani Mahama, has assured the international community that the country has taken the necessary steps to prepare itself to become an oil economy.

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Saturday, 04 September 2010 04:38

The Ghana National Petroleum Corporation (GNPC) and its partners in the Jubilee Oil Field, have accomplished with verve and surprising goodwill what other oil explorers and producers around world have failed to achieve with grim determination.

The Jubilee partners, which includes, GNPC, Tullow Ghana Ltd. Anardarko Petroleum, Kosmos Energy, Sabre Oil and controversial EO Group have broken industry record which usually pegs the period between oil discovery and production at seven years.

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Saturday, 04 September 2010 04:38

Ghana is to enter into a deal with Equatorial Guinea for the supply of one million barrels of high quality-crude oil annually.

In furtherance of this, President John Evans Atta Mills is in that country to sign an agreement with President Theodore Nguema Mbasogo.

The signing of the accord marks the end of months of negotiations between the two governments for a comprehensive collaboration in the oil sector.

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Saturday, 04 September 2010 04:38

The Government of Ghana is to create an independent body to take charge of the disbursement of the Export Development Investment Fund (EDIF).

This is as a result of several complaints from some stakeholders in the export sector that the banks responsible for disbursing the fund are reluctant in releasing the funds because they prefer the companies access loans belonging to the banks instead of the EDIF.

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