Ghana, Nigeria Sign oil-purchase Agreement

Ghana's Tema Oil Refinery (TOR) will effective next month buy 30,000 barrels of crude oil per day from Nigeria under an agreement signed between TOR and state-owned Nigerian National Petroleum Corporation (NNPC).

The agreement was signed at the NNPC Headquarters in Abuja, where NNPC's Group Managing Director, Jackson Gaius-Obaseki, signed for his company while Ghana's Minister of Energy, Albert Kan-Dapaah, signed for TOR. The purchase price was not disclosed.

Gaius-Obaseki said the agreement would provide economic benefits for both country, and implored the Ghanaian delegation to explore other areas of business link between both countries.

Kan-Dapaah, while regretting problems that stalled earlier agreement, noted that inadequate crude oil had caused economic problems for Ghana and thanked the NNPC for the good financial package that made the agreement a reality.