Ghana Government Appoints New Head to National Oil Company

Source: Reuters 1/24/2017, Location: Africa

Ghana's new government replaced the head of the national oil company after an election in which it promised greater transparency in the sector and a fairer use of oil revenues. It appointed Kofi Konadu Sarpong, former head of Ghana's only refinery, the Tema Oil Refinery (TOR), to replace Alex Mould as head of Ghana National Petroleum Corporation (GNPC), a senior aide at the presidency told Reuters.

Ghana produces around 100,000 barrels per day and has made $3 billion in revenue since it began producing crude in 2010 from an offshore field operated by British company Tullow. A second Tullow field opened last August.

GNPC has stakes in both operations as well as in an oil and gas field operated by Italy's ENI set to begin operations in 2017.

The government of Nana Akufo-Addo, sworn on Jan. 7, says public opinion over the benefits of oil to the economy declined under the previous administration. "The NPP commits to a transparent, accountable and efficient management of the country's petroleum resources for the benefit of all Ghanaians," it said in its manifesto.

The government says it seeks to attract more domestic and foreign investment in oil and gas exploration, develop the Western region into an oil services hub and create a port to serve oil operations across the West Africa region. It also aims to expand the Tema Oil Refinery so that domestic crude is processed locally, improve the quality of imported fuel and build a petrochemical industry.


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Related Categories: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 

Related Articles: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 


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