Business in Ghana

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Posts Tagged ‘Oil’

To Pin an Unconstitutional Tale. Critical News, 3rd March 2013

Posted by Business in Ghana on March 3, 2013

Sydney Casely-Hayford, sydney@bizghana.com

A couple of police died in a river, trying to prevent illegal Galamsey miners from ruining the environment.  Reading the story, I wondered whether President Mahama’s visit to the Western Region and his subsequent visit to the families of the service men would get Government to sit up and resolve this menace.  But read this story from May 2012 in the Ghanaian Chronicle and ask yourself whether there is additional mystery to resolving this Galamsey.  We know how it works, we have a law in place and yet we still cannot find the will to fix the greed.  Now we are chasing Chinese people all through the villages, trying to out them with cudgels and knifes.

Even better, just to see how entrenched our traditional and cultural beliefs go, and how we are despite all our Christian values, striking workers of the Sofoline Interchange Project say they are not going back to work until their leaders reverse a curse invoked to bind them all to their demand for a salary increase by preventing them from returning to work prematurely.  The Union leaders apparently invoked the Antoa Nyamaa deity to deal with anybody who goes against the group’s decision to strike.  A day after China GEO-Construction, their employers, agreed to a 25 per cent salary increase, workers would not return to work until the curse is overturned.  So, Chairman of the Construction Workers Union Rudolph Asoala has started arrangements to get the curse overturned.  The Personnel Manager of the company, who is a chief, is leading the workers to the Asantehene’s chief priest to have the curse reversed.  Last time I heard, we are a Christian country. Read the rest of this entry »

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Kosmos submits Declaration of Commerciality to Ghana, Tullow to issue 4 million shares on GSE

Posted by Business in Ghana on November 14, 2010

By Emmanuel Dogbevi, Ghana Business news

Kosmos Energy, one of the stakeholders in Ghana’s Jubilee oil field where Ghana’s first commercial production of oil is expected in December has submitted a ‘Declaration of Commerciality’ to the Ghana government. The Declaration, it says is for the southeast Jubilee area. And Tullow Oil plans to issue four million shares on the Ghana Stock Exchange (GSE). Read the rest of this entry »

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The Scramble For Ghana’s Oil Begins

Posted by Business in Ghana on October 17, 2010

By Carly Ahiable, Business in Ghana

Some people call it Dino Juice, Texas Tea, Black Gold while other call it the fluid with rising cost but here in Ghana, where the continental shelf is impregnated with oil, crude may be assuming a new name, HOPE (Help Our People to Enjoy). Who want to be hungry and suffer in abundance of oil wealth? Every Ghanaian hopes to enjoy peace and prosperity but how trustworthy are the international agencies and multinational companies in their resolve to develop the oil reserves of Ghana, and keep the nation united and peaceful as they find it? Read the rest of this entry »

Posted in Carly Ahiable, Oil and Gas | Tagged: , , , , , , , , , , , , , | 16 Comments »

BURN, BABY BURN – NIGER DELTA GHOST!

Posted by Business in Ghana on October 17, 2010

By Kwaku Adu-Gyamfi, THE VOICE OF  REASON

ONCE UPON A TIME, the Niger Delta was calm until the oil find

Making the politicians’ bank accounts feel like fluid

Swimming in money like Tsunami flood

Eating, drinking and partying like no tomorrow

While the citizens go to bed with empty tummies

You wonder   why Delta is burning Read the rest of this entry »

Posted in Kwaku Adu-Gyamfi, Social Services | Tagged: , , , , , , | 3 Comments »

Critical News 1st August, 2010

Posted by Business in Ghana on August 2, 2010

Glory, Glory, Glory!  What a start to the week.  The New Crusading Guide blessed the week with the story of the year so far.  Tsatsu Tsikata involved in a contentious (have to be careful here, might cause Fear and Panic!) contract with MODEC, the builders and managers of the FPSO Kwame Nkrumah.  Rather longwinded so here are the essential facts as I see them.  Tsatsu signed a contract to provide advisory services to MODEC back in 2008 when he was in custody.  The IFC through the Multi-lateral Investment Guarantee Agency (MIGA) were only recently told of this contract.  Both the IFC and MIGA are heavily invested in the FPSO, which is owned by Jubilee Ghana BV 21, a special purpose company, set up to raise funds for the development of the Jubilee field unit in West Cape 3 Points.  This also involves Tullow, Kosmos, Anadarko, the EO Group, Sabre Oil and GNPC.  I will do a very detailed report on the shareholding structure of all this in the coming week.  It will impress you! trust me.  Anyway, the IFC and MIGA are p***** off because they were only told at the back end.  The contract is for $5million, two has been paid, all of it during the NDC era and the remainder to be paid when the first oils starts.  Great start to the week!  It got more interesting as the days rolled forward, and Tsatsu publicly threatened to sue through his company Strategic Oil and Gas.  He owns 50% of the company and we are yet to know who owns the other half!  This story will run for a long time.  Until the due diligence is completed and the IFC and MIGA are content, the FPSO will not be storing any oil!  Imagine what this will mean to Ghanaians if one person’s greed halts our whole economic jump off! Read the rest of this entry »

Posted in Critical Weekly News, Sydney Casely-Hayford | Tagged: , , , , , , , , , , , , | 1 Comment »