“God shouldn’t forgive Govt if it messes up our oil” – Nana Kobina Nketia

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T.K 11 years ago

GOD WILL FIRST ASK KUFFOUR AND CO.FIRST.

GOD WILL FIRST ASK KUFFOUR AND CO.FIRST.
NANA 11 years ago

WE VOTED YOU GUYS OUT FOR NONE PERFORMING: SO WHY SHOULD WE VOTE YOU IN AGAIN? ANOTHER NONE PERFORMING PARTY?????

WE VOTED YOU GUYS OUT FOR NONE PERFORMING: SO WHY SHOULD WE VOTE YOU IN AGAIN? ANOTHER NONE PERFORMING PARTY?????
ATSU, HO 11 years ago

GOVT SHOULD NOT WORRY AFTER ALL THE CURSE IS CONDITIONAL. GVT SHOULD JUST DO TE RIGHT THING AND THE CURSE WILL NOT APPLY TO THEM. ON MY PART I WILL SAY MAY GOD PUNISH BE IT EVER SO SEVERELY ANY ONE WHO USES HIS POSITION TO TA ...
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GOVT SHOULD NOT WORRY AFTER ALL THE CURSE IS CONDITIONAL. GVT SHOULD JUST DO TE RIGHT THING AND THE CURSE WILL NOT APPLY TO THEM. ON MY PART I WILL SAY MAY GOD PUNISH BE IT EVER SO SEVERELY ANY ONE WHO USES HIS POSITION TO TAKE ADVANTAGE OFTHE PEOPLE
Nana Adjei 11 years ago

I don't blame you but i blame Kwame who accepted Volta as Ghanaians.

I don't blame you but i blame Kwame who accepted Volta as Ghanaians.
Nana Adjei 11 years ago

I don't blame you but i blame Kwame Nkrumah who accepted Volta as Ghanaians.

I don't blame you but i blame Kwame Nkrumah who accepted Volta as Ghanaians.
iddrisu alhassan 11 years ago

I can see your dump and blind may God forgive you.

I can see your dump and blind may God forgive you.
c.citizen 11 years ago

The reason is we have seen that,the npp's non performance is better than the ndc's best performance,of unpresidented corruption.

The reason is we have seen that,the npp's non performance is better than the ndc's best performance,of unpresidented corruption.
HONESTY 11 years ago

The Seven sisters are trying to take the rest through the back door, Ivory Coast and cut prices.

God is already punishing Ghana for being too greedy and not leaving the oil to future generations.

If you are reading, I ...
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The Seven sisters are trying to take the rest through the back door, Ivory Coast and cut prices.

God is already punishing Ghana for being too greedy and not leaving the oil to future generations.

If you are reading, I say, you thought me to use my brain when you once asked the question, what would the world had been if the Nazis has won the WW2. I guess you know the answer and so you did a good lecturing job.
HONESTY 11 years ago

...you taught me..
(last para)

...you taught me..
(last para)
Against Morons 11 years ago

Moronic thinkers. If I come and clear the forest on your land and labour on to produce crops from it, would you expect me to share equally the proceeds with you? What did Kuffour do wrong? The oilfield is just a sea berth wit ...
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Moronic thinkers. If I come and clear the forest on your land and labour on to produce crops from it, would you expect me to share equally the proceeds with you? What did Kuffour do wrong? The oilfield is just a sea berth without the expertise to explore and produce it. What you call little share has given us billions of dollar so far. Do nothing Africans can always pick on others

C.Y. ANDY-K 11 years ago

You and your ilk, which include the NPP and NDC leaders, are indeed the morons and are willing to give out our oil resource on a silver platter. When you engage in sharecropping, which proportion goes to the land owner and th ...
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You and your ilk, which include the NPP and NDC leaders, are indeed the morons and are willing to give out our oil resource on a silver platter. When you engage in sharecropping, which proportion goes to the land owner and the tenant farmer?

Now, here is the case that the Jubilee Fields reserve of oil alone was conservatively estimated to the value of $160bn! Ghana is supposed to get only about $20bn when fully exploited and the FOCs take the rest! What sort of crazy arrangement is that? GNPC did all the seismic work and started drilling, thereby eliminated some areas as not good enough but discovered huge amount of gas deposits. KOSMOS simply took a look at the data and the maps and easily decided that, by the solve of the continental bed, the oil reserves must be a bit further from the coast! They drilled there and presto, the oil was there! They didn't bring the crude and put in the ground, fools! And they didn't spend a fortune doing that. So for the investment of $4bn, Tullow and Kosmos should take $140bn???? What abt the investment Ghana made into all that oil exploration data collection?

Ghanaians have been sold down the river already by the idiots country.

Andy-K
Yaw Poku, USA 11 years ago

Andy-K or whatever you call yourself. You always sound like you know everything and smart huh? Why didn't you and your ewe Tsikata do what you are talking about when the NDC was in power so that Ghana would have gotten 90% in ...
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Andy-K or whatever you call yourself. You always sound like you know everything and smart huh? Why didn't you and your ewe Tsikata do what you are talking about when the NDC was in power so that Ghana would have gotten 90% instead of 10% before Kuffour's administration took over and invited KOSMOS? I believed we could have found the said technology in Volta region to drill the oil without any foreign assistance with them taking a big chunk of the pie and giving us the crumbs.
SAMANGWANA INTERNATIONAL 11 years ago

Why are Ghanaian youth becoming tribalistic,too partisan and too sectorial?. Western Region people crying for their oil because it was found in their area. Forest Akan tribes crying over their cocoa, coffee, diamond and gold. ...
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Why are Ghanaian youth becoming tribalistic,too partisan and too sectorial?. Western Region people crying for their oil because it was found in their area. Forest Akan tribes crying over their cocoa, coffee, diamond and gold. All they are trying to say is that the north has nothing to showcase and to sell out internationally. That is why JD Mahama is seen unfit to govern Ghana. These bastards preferred Governors Edden Clark, George Ekem Furguson, Sir Charles Mac Cathy down to the Gorgisburgs than their fellow blackman. Yet 60 years down the line all Blacks greedy as they are took to the streets when Prez Obama was declared the President of the USA. Nothing wrong there!!!! They think it is fine with them. He can twist the whiteman"s hands through his health care bill(OBAMACARE) and hard cash from bailed out USA banks to grant investment soft loans to Africans. Black ass cheats!!. THINK!!!! Why wont they spray EBOLA on Africans to reduce your greedy,useless and lazy bluffly populace. For the two worried types of Yaw Poku and his friend Andy K, be it known that the issue here is neither NDC or NPP. A resource is not until it becomes. How many petroleum Engineers do have in your homes. Which of you can produce a drill machine. Which of you can determine where crude oil can be found. You gentlemen must be grateful to God for having John Dramani coming out early to set things right for this Oil exploration else this country would have been doomed.To the chiefs you demanded that on a son or daughter from your area can manage the oil and that was done why these complaints again????? Wait to have an Nzima, Fante, Ashanti or Akim man on this throne as President under this so call Oil regime.You guys will see and know what we call corruption.
Balderash 11 years ago

Ghanaians cannot handle the truth. No wonder they are happy going to the IMF. Useless and hopeless country. The parable of the talent is not even a lesson for us.

Ghanaians cannot handle the truth. No wonder they are happy going to the IMF. Useless and hopeless country. The parable of the talent is not even a lesson for us.
diaba k 11 years ago

when people were jubilating about the discovery of oil at the shores of Ghana, What I said was, 'How things are done in Ghana nothing will change'.
The OMANHENE'S comment is in the right direction.
Ghana should copy other c ...
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when people were jubilating about the discovery of oil at the shores of Ghana, What I said was, 'How things are done in Ghana nothing will change'.
The OMANHENE'S comment is in the right direction.
Ghana should copy other countries that have developed their countries with their resources.
God bless.
C.Y. ANDY-K 11 years ago

Whatever I called myself is not the issue. I earned my coveted title of TK deservedly.:-) Just prove me wrong if I am blowing hot air!

Now that you want to tribalise it, if the NDC were still in power, GNPC would have disc ...
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Whatever I called myself is not the issue. I earned my coveted title of TK deservedly.:-) Just prove me wrong if I am blowing hot air!

Now that you want to tribalise it, if the NDC were still in power, GNPC would have discovered oil with foreign partners under far better terms and conditions. There is so much hype about drilling for oil. had GNPC chosen the correct places to drill when they did so own their own, we'd have been owning a big chunk of the discoveries, instead of the pittance we now have.

Kola has already written abt Tsatsu's purchase of drills and let me add sending Ghanaians to Libya and Angola to learn oil drilling. All this efforts were dismantled by the NPP regime and they sold out to foreign vultures!

Anyway, here is the Open Challenge to all of you who think you know better.
Been too busy to pursue this case to its logical end.

Andy-K
C.Y. ANDY-K 11 years ago

So far there has been no taker for the Open Challenge issued by Efo Solo and GIGS, the only true selfless and informed patriots fighting for maximizing the benefits from Ghana's oil and gas resources.

OPEN CHALLENGE

As ...
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So far there has been no taker for the Open Challenge issued by Efo Solo and GIGS, the only true selfless and informed patriots fighting for maximizing the benefits from Ghana's oil and gas resources.

OPEN CHALLENGE

As a follow up to our Press Statement on the Petroleum Exploration and Production Bill 2013, released on 28th July, 2014, the Ghana Institute of Governance and Security (GIGS) is challenging the following under-listed organizations and their executives to come out and tell Ghanaians how much revenue would eventually accrue to them from the Jubilee Fields which is considered to hold 2 billion barrels of oil and 5000 billion cubic feet of gas worth estimated conservative value of US$175 billion, that is, (2 billion x US$75) + (5000 billion x US$5.00 per 1000 cubic feet), under the hybrid system -THE MODERN CONCESSION - they are championing and collaborating with the World Bank, IMF, Oxfam America, Revenue Watch Institute, Star Ghana, to force down the throats of Ghanaians.

The World Bank and IMF have estimated theirs to be US$19.390 billion and US$20.269 billion respectively, using a long term base price of US$75 per barrel when the field becomes exhausted. We at GIGS have also estimated ours using the same base price of US$75 per barrel and US$ 5 per 1000 cubic feet for gas as indicated above to be between US$83.475 billion, representing profit oil only (47.70% of total estimated revenue), and US$ 86.94 billion, representing Royalties and Profit oil (49.68% of total estimated revenue) as the “Minimum Government Take,” excluding Profit Taxes, under the simplest Production Sharing Agreement. Note: Under this simplest Production Sharing Agreement, Ghana is not contributing a cent towards exploration, development and daily operating costs.

These conservative estimated revenue figures accruing to Ghana under the PSA fall within the 42%-60% “Minimum Government Take” range set by the US Government Accountability Office (GAO), that should accrue to any host government from total production revenue by allowing its oil and gas resources to be exploited under any fiscal arrangement or contract [(DCMNR 2006) Department of Communication, Marine and Natural Resources, Dublin, Ireland].

If the Modern Concession formula was not being manipulated by the Foreign Oil Companies, as the case is now to their advantage, Ghana should at least earn US$66.8675 billion including taxes, representing 38.21% of the total estimated revenue of US$175 billion, though this falls short of the base Minimum Government Take of 42%.

The price of light crude oil since production began in 2010, has been fluctuating between US$100 and US$120 and is currently around US$105 per barrel.

The World Bank and the IMF estimates are 11.08% and 11.58% of the total estimated production revenue of the US$175 billion respectively as the ‘Minimum Government Take’, under the current prevailing system – the Modern Concession which makes Ghana to also contribute toward development and daily operating cost. Ghana currently is required to be paying US$150 million or more yearly to the lead operator Tullow as her share of daily operating and technical costs for participation in the project contrary to international practice. The total operating cost plus capital cost that Ghana is expected to pay over the next ten years average roughly US$180 million per year.

This is a clear and absolute example of robberies in the name of investment Mr. Kofi Annan complained against, but our elite technocrats and political leaders do not seem to realize it. The passage of the current Petroleum Exploration and Production Bill which is in the pipe-line would amount to complete perpetuation of these robberies and a death sentence on Ghana’s economic emancipation and independence, reducing us to modern day slavery status. We say a BIG NO to selling Ghanaians down the river all over again.

The organizations being challenged are:
1. Africa Centre for Energy Policy (ACEP).
2. Ghana’s Oil and Gas Technical Committee.
3. Institute of Economic Affairs
4. Centre for Economic Policy Analysis
5. Oxfam America
6. The 135 CSO Platform on Oil and Gas
7. Oil Watch Ghana
8. Ghana National Petroleum Corporation (GNPC)
9. Energy Commission
10. Petroleum Commission
11. IMANI Ghana
12. ISODEC
13. Friends of the Earth
14. Friedrich Ebert Foundation
15. Select Committee on Energy and Petroleum
16. Select Committee on Finance
17. Ministry of Finance
18. Ministry of Energy and Petroleum

We challenge them, in addition, to publish the list of countries in Africa producing oil in recent times under the Modern Concession.

Ghanaians are waiting for your answers. Please DO NOT take forever to respond.

Solomon Kwawukume
Senior Research Officer
Oil & Gas, GIGS

Note: This article takes precedence over our earlier publication due to the revision and evaluation of the Gas deposits.

26th August, 2014.
KOLA, INSIDE LONDON. 11 years ago

The Oil has been sold for pittance by the most highest thief, Kufuor. GNPC under Tsatstu Tsikata took all the risk in having to spend chunk of Ghana Government budget in the exploration Kwesi Botchwey resigned because of that ...
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The Oil has been sold for pittance by the most highest thief, Kufuor. GNPC under Tsatstu Tsikata took all the risk in having to spend chunk of Ghana Government budget in the exploration Kwesi Botchwey resigned because of that.

Little did majority of Ghanaians know we Tastsu Tsikata managed to buy a drill ship too which the thieves came to sell because they had no knowledge or clue about the legalities attached to the drill ship. One stupid NPP idiot, Nana Akomea, who referred to the Hedge Funds as Cha-cha is one typical illiterate Tsatsu Tsikata made him look a fool after explaining the legal duties the SG Bankers hog-tied to it.

There was a clear case of fraud which implicated one other NPP foolish thief, KT Hammond who wept bitterly before the commission set to interrogate the Fraudulent act. The funny thing was that before the commissions investigations into where the remaining proceeds went, there was this drama about this other idiot, Kwaku Banku, Mr. Fake documents, who actually presented fake documents to say there proceeds were paid into some commercial bank in London on some fake date. That idiot Banku is always around to protect these thieves with his fake documents.

But anyway, the whole mess in the oil industry has been all caused by that poor old Dark looking Kufuor.And the reason Ghanaians voted NDC to look after it.
C.Y. ANDY-K 11 years ago

Kola,

Thanks for the back up. Been very busy today. It is clear there are just too many ignoramuses on Ghanaweb and in Ghana with clue what they are talking/writing about. We have a disaster in the making and some cannot s ...
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Kola,

Thanks for the back up. Been very busy today. It is clear there are just too many ignoramuses on Ghanaweb and in Ghana with clue what they are talking/writing about. We have a disaster in the making and some cannot see it. Anyway, Kufuor surely blundered but Mahama has the power now to fix it. Rather, he is going to cement that blunder into laws. We must say a BIG TWEAAAAH! to that too.

Below is what the issue is about.

Andy-K

THE PETROLEUM (EXPLORATION PRODUCTION) BILL 2013
A MODERN CONCESSION IN GHANA

“Africa’s natural resource wealth rights belongs to the continent’s citizens, but these citizens are being robbed of its benefits by revenue diversion, corruption, jobless growth and rising inequality,” Kofi Annan. Geneva, September 26th 2013.

Dr. Peter Eigen observed that The World Bank and Western Governments do not see anything wrong with the multinational companies engaged in extractive industries paying tens of millions of dollars into private accounts overseas to secure bad contracts and agreement in their favour. DW TV Journal interview, 31st December, 2013.
These are sobering observations to guide us in our quest for a “Better Oil Deal for the mass of Ghanaians,” not only a few connection men linked to the powers-that-be.
At long last, the much awaited Petroleum (Exploration and Production) Bill, which was withdrawn from Parliament in 2010 under protest from some of us, has finally arrived in a new form. Though I have some misgivings about the Bill in general, especially the numerous powers given to the Minister of Energy, my main concern are about the fiscal provisions it contain and what kind of fiscal regime or arrangement we are adopting to maximize the full potential of our natural oil and gas resources. The Bill has been cunningly designed to look like a “contract for work law” which governs production sharing agreement but it is not.
The Bill is essentially in all respect the Royalty Tax system which include some aspects of Joint Ventures and Production Sharing Agreement (PSA) in implementation to conform and fall in line with the current prevailing system which GNPC and the Ministry of Energy referred to as a Hybrid system. It is referred to as “Modern concession” because, unlike the old traditional concession under which only Royalties and Taxes are paid to the host government, this hybrid allows Ghana some participation interest, which makes the Bill look like a Joint Venture, or some loose form of partnership for which Ghana has to pay for capital cost development which is normal under both Joint Ventures and Production Sharing Agreements.
Normally, under Joint Ventures and Production Sharing Agreements, allocations are made from production to take care of daily operating and technical costs. Under this hybrid system which the World Bank and Oxfam America are forcing down the throat of Ghana through their Ghanaian well-resourced and financed surrogates, who are always on radio and TV, Ghana is being made to contribute also towards daily operating cost which I consider abnormal. Ghana, therefore, within the next 10 years would have to hand over US$ 1.8 billion to the Jubilee partners for participating in the project (Energizing Economic Growth in Ghana 2013). Since there is no provision in PNDC Law 84 to back this sort of bizarre arrangement which defies all international practice, the Draft Bill makes provision to capture this abnormality, see Section 10(b) (ii) of the Draft Bill.
The financial obligations that this clause would place on Ghana are so huge that the burden on the limited resources available to meet our infrastructural deficits cannot be underestimated if we have to adopt this hybrid system in the Draft Bill. The implication also is, as a Nation, we cannot increase our take from our own resources which belongs to us under the Constitution without having to pay heavily for it. This would create inequalities in sharing the oil revenue. This is the main disadvantage of operation under Joint Ventures.
This hybrid system also makes provision for minimal carried interest under which a small percentage of production is given for free as owners of the resource, something which does not exist in the old traditional concession. This carried interest ranges from 3% to 10% in the old contracts signed, but raised to 15% in the Draft Bill. The carried interest provisions are not found in PSA laws; what is found is how the profit oil is shared.
This hybrid system, referred to as the Modern Concession, was designed by the British and the Americans as an antidote to the Production Sharing Agreement which was started from the East – Indonesia precisely. It would be recalled the British and the American oil giants operating in that country protested vehemently against the PSA when it was introduced, arguing ineffectively that they took all the risks.
This Modern Concession is what the World Bank, IMF, Oxfam America and Revenue Watch are imposing on newly emerging oil producing countries in which their political leaderships and the elite technocrats are not smart and savvy enough and cannot read between the lines since they had no clue about these things to shape their consciousness. Perhaps, some might be smart and aware but decide to turn a blind eye for whatever expected benefits, real or imaginary, the boon might bring them as the gatekeepers and the men about town who become connection men and surrogates for these FOCs. One contract can make you a multi-millionaire, we all know; so it is much better to be on the side of the people with the money bags.
This Modern Concession is as equally exploitative as the old traditional concession. For example, Ghana should be earning close to US$5 billion in total at the end of 2013 under the PSA; God bless us if we did earn US$2 billion under the current prevailing system – Modern Concession. Ghana is losing almost US$3 billion within 3 years of operating the Jubilee Fields under this Modern Concession. See tables below:

Table 1.
PROJECTED POSITION 3 YEARS OF OPERATION ENDING 2013,
UNDER ROYALTY TAX SYSTEM
...........................Barrels........................US$.........................%
Total Output................ …96,077,000, .............10,262,573,617
Ghana .........................17,361,223 ...............1,840,197,044....... 17%
FOCs *................... .... 78,715,777.............. 8,422,376,573....... 83%

Note: The total investment of US$4 billion would have been fully recovered at the end of 2013.

Table 2.
PROJECTED POSITION UNDER PRODUCTION SHARING AGREEMENT 3 YEARS ENDING 2013

............................... Barrels................... US$
Total Output .................96,077,000...............10,262,573,617
Royalty 5%..................... 4,803,850...................513,128,680
Production Cost.............10,950,000................1,180,737,040
Capital Cost Recovery....11,497,500...............1,239,773,892
Total Direct Cost............27,251,350............... 2,933,639,612
Profit Oil........................68,825,650.................7,328,934,005

Ghana 60%...................41,295,390................4,397,360,403
FOCs 40%.....................27,530,260...............2,931,573,602
Total..............................68,825,650...............7,328,934,005

Table 3.
PROJECTED TOTAL DUE GHANA UNDER PRODUCTION SHARING AGREEMENT
3 YEARS ENDING 2013
............................... Barrels.................US$.......................%
Royalty.........................4,803,850..............513,128,680
Profit Oil.....................41,295,390...........4,397,360,403
Total:.............................6,099,240…......4,910,489,083…..47.98%

Table 4
.PROJECTED LOSSES TO BE SUFFERED BY GHANA 3 YEARS ENDING 2013
....................................Barrels....................US$
PSA.............................46,099,240...........4,910,489,083
RTS.............................17,361,223...........1,840,197,044
Losses.........................28,738,017...........3,070,292,039

Table 5.
PROJECTED TOTAL DUE FOREIGN OIL COMPANIES 3 YEARS ENDING 2013
………............................Barrels.................US$......................%
ProductionCost.................10,950,000........1,180,737,040
CapitalCostRecovery........11,497,500........1,239,773,892
Profit.Oil...........................27,530,260.......2,931,573,602 Total:.................................49,977,760.......5,352,084,534……..52.02%

If Ghana was operating under the PSA, Ghana would be earning as much as over US$50 billion in 20 years as against the US$20 billion and the US$19 billion estimated by IMF and the World Bank respectively.

Note: The conservative estimated value of the Jubilee Fields which is estimated to hold about 2 billion barrels of oil is US$160billion, excluding the value of the associated gas.
Since 2009, I have been telling Ghanaians that there is no economic and moral justification to engage a contractor who spent about US$4 billion, as they claimed, to work on our oil valued over US$160 billion, and before production begun the World Bank and the IMF rushed to announce to us that, us owners of the oil, we would be receiving about US$20 billion and we are happy and excited and have stopped thinking. They are taking the bulk of the revenue because they said they brought their money to invest. Yes, they brought in some money, but there is an alternative which can insure us a fair share of our wealth and good returns to them too; an alternative which countries far lesser in stature than Nkrumah’s Ghana are adopting.

This is the message I have carried to the political class including Parliament, the elite technocrats, Institute of Economic Affairs, Centre for Economic Policy Analysis, KASA, Imani Ghana, GNPC, Ministry of Energy, Isodec, Ghana Institute of Journalism, the Academia of our tertiary institutions, Africa Centre for Energy Policy, PAIC, Civil Society Organization Platform on Oil and Gas, Chiefs, The Christian Council and prominent individuals in high places but they all failed to understand me because in their mind, in the truest of colonial mentality and subservience, the white man has come to help us to get our oil out of the ground and we must be grateful for whatever we get, as the oil would have remained in the ground! Really?! Some people even accused me of being influenced by Mr. Kofi Wayo, as if that is a horrible disease I have caught.
If the Bill is passed in its current form, it would enable the foreign oil companies to make between 500% to 600% net returns on capital investments thereby denying us a fair share of our wealth. Indeed, Ghana is being robbed of its oil wealth the same way as gold and other minerals which have been mined in Ghana for over a century with no sign of advanced development in the mining areas and the country comparable to mining areas in the Western world. It is surprising Ghana is about to pass a law to legalize and perpetuate the robbery of her citizens Kofi Annan complained about. If the Bill is passed into law, it would amount to an economic suicide committed by the leaders of Ghana, plunging the current generations and the future ones into eternal economic bondage which can only be described as modern day slavery. Neo-colonialism is now too soft a word to describe the ongoing plunder of many African countries.
I am by this publication appealing to Dr. Kofi Annan for and on behalf of the People of Ghana to come down to talk to the President and his Cabinet to invite independent international experts to have a second look at the fiscal provisions in the Bill and other aspects of it. I equally appeal to Dr. Peter Eigen to assist Dr. Kofi Annan in this regard. I am aware he was responsible for drawing the formidable fiscal regimes for Botswana and Namibia governing their extractive industries, making them among the best on the continent.

By Solomon Kwawukume
solomon.kwawukume@yahoo.com
Author – Ghana’s Oil and Gas Discoveries: Towards Full Maximum Benefits
Yaw Poku, USA 11 years ago

Andy-K Mr. Know it all I can deduced from your writing on ghanaweb that you lack civility. How long was PNDC/NDC in power and what prevented them from doing absolutely the right thing for Ghana that could have be done by your ...
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Andy-K Mr. Know it all I can deduced from your writing on ghanaweb that you lack civility. How long was PNDC/NDC in power and what prevented them from doing absolutely the right thing for Ghana that could have be done by your ewe kinsmen all those 20 something years? It always made me wonder as a matter of fact Andy-K. You always come on Ghanaweb with your illiterate Kola ranting and raving. If you get your information from Kola or whatever his name is I do dearly petty you man.

DusTY-FooT-pHiloSophER 11 years ago

Hahaha, Mahogany-East and FPSO Kwame Nkrumah MV21 indeed. Well, could somebody please tell this ignorant chief that, there is no such thing as Mahogany-East since Mahogany 1 up to 5 together with Odum 1,2,3, and Heydua 1,2,3, ...
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Hahaha, Mahogany-East and FPSO Kwame Nkrumah MV21 indeed. Well, could somebody please tell this ignorant chief that, there is no such thing as Mahogany-East since Mahogany 1 up to 5 together with Odum 1,2,3, and Heydua 1,2,3,4, are the basis clusters of Jubilee field we know of today and nothing like a solely Mahogany-East field out there in our emerging oil portfolio and certainly no FPSO Kwame Nkrumah MV21 field either since FPSO Kwame Nkrumah MV21 is a tanker vessel previously called Ohdoh which was converted into a floating, production, storage and offloading (FPSO) vessel for the Jubilee field.

Therefore, the FPSO Kwame Nkrumah MV21 we know of today. Further more, Deep Turonian & Cenomanian is not a well or a field but a prospect under studies. Jee! Starrfmonline.com could have checked these readily available facts with GNPC or the multinational oil company envolved in the discoveries so far, such as Kosmos, Anadarko, Tullow, Eni or Amerada Hess for accuracy. What a bunch of mushroom news media houses are these all over Ama Ghana!
SACRAJI-NYAMAA 11 years ago

I,m disappointed that no less a person than an Omanhene could curse the govt of our land.Nana should know that we have laws governing the oil and it,s proceeds and that if he as a chief is not satisfied with the processes the ...
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I,m disappointed that no less a person than an Omanhene could curse the govt of our land.Nana should know that we have laws governing the oil and it,s proceeds and that if he as a chief is not satisfied with the processes the right thing to do is to ask for the laws to be applied and not to curse the govt.Nana you,.ve stooped too low,sorry to say that
SACRAJI-NYAMAA 11 years ago

I DOUBT IF NANA PROF. NKETIA WOULD HAVE SPOKEN THE WAY YOU SPOKE ,(THE WAY I KNOW HIM) I MISS HIM.

I DOUBT IF NANA PROF. NKETIA WOULD HAVE SPOKEN THE WAY YOU SPOKE ,(THE WAY I KNOW HIM) I MISS HIM.
SACRAJI-NYAMAA 11 years ago

WE ARE LOOSING THE GOOD CROP OF OUR LEADERS.GOD GIVE US GOOD LEADERS

WE ARE LOOSING THE GOOD CROP OF OUR LEADERS.GOD GIVE US GOOD LEADERS
iddrisu alhassan 11 years ago

See another idiot

See another idiot
iddrisu alhassan 11 years ago

See another idiot

See another idiot
Elements 11 years ago

You are right my friend people write as if they don't know what is going on in Ghana. Look our leaders refuse to think because

You are right my friend people write as if they don't know what is going on in Ghana. Look our leaders refuse to think because
NDC Akoromfuor Party. 11 years ago

Your are crazy,stupid guy.

Your are crazy,stupid guy.
YAW 11 years ago

Its shocking to learn that the Prof Chief is not aware of the laws governing the oil industry. By the agreement Kuffuor signed Ghana owns 13 and half per cent of the oil. The rest is shared among the so called jubilee partner ...
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Its shocking to learn that the Prof Chief is not aware of the laws governing the oil industry. By the agreement Kuffuor signed Ghana owns 13 and half per cent of the oil. The rest is shared among the so called jubilee partners which includes Kuffuor's E&O. So Nana chief direct the curse to the appropriate quarters
atta 11 years ago

Funny how ppl are more concerned about what E&O does with it's less than 1% rather than what the government is doing with it's over 13% share...this is what in Ghana we call "skin pain"

Funny how ppl are more concerned about what E&O does with it's less than 1% rather than what the government is doing with it's over 13% share...this is what in Ghana we call "skin pain"

Nene ( Ningo Prampram ) 11 years ago

Kwasiakwa! speak to the bloody issue. don't't let politics undermine your sense of patriotism.

Kwasiakwa! speak to the bloody issue. don't't let politics undermine your sense of patriotism.
GOLD COAST 11 years ago

Just two weeks ago,Nana Nketsia and his fellow chiefs were jumping up and down kissing Dr.Adusei(EO Group and now Edusei Foundation)all over - for some peanuts he handed them - out the $1billion he,Kufuor and his cabal scamme ...
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Just two weeks ago,Nana Nketsia and his fellow chiefs were jumping up and down kissing Dr.Adusei(EO Group and now Edusei Foundation)all over - for some peanuts he handed them - out the $1billion he,Kufuor and his cabal scammed Ghana. Now,after collecting the few cedis,these remnants of the past turn around to attack the government - as some Ghanaians(fraudulent pastors,corrupt politicians,so-called financial analysts and even the average guy who is caught stealing)are doing these days.

The chiefs should first ask Edusei for account of his share of the booty.

PEACE
KWAME 11 years ago

TRIBLISTIC CHEIF

TRIBLISTIC CHEIF
Kofi 11 years ago

Kwame, Do you have brains in your head?
Just sit back, pray to God to restore your
brains and then read again what the chief
Is talking or questioning about .Any genuine
person who loves his country would want to
know ...
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Kwame, Do you have brains in your head?
Just sit back, pray to God to restore your
brains and then read again what the chief
Is talking or questioning about .Any genuine
person who loves his country would want to
know where that oil proceeds are going.
Thank you!
C.Y. ANDY-K 11 years ago

The NDC has followed in the footstep of the NPP in messing out the crude find already! Efo Solo has proven this in many articles and in a book. This Chief should call a spade a spade and speak straight to the powers that be t ...
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The NDC has followed in the footstep of the NPP in messing out the crude find already! Efo Solo has proven this in many articles and in a book. This Chief should call a spade a spade and speak straight to the powers that be that they should not go ahead with passing this obnoxious Petroleum Bill. And the govt shld adopt the PSA system, instead of the hybrid Consensus system only Ghana is adopting in Africa.

There would have been no need at all to go the IMF if the PSA were in place. In fact, the cedi wouldn't be falling. Ghana would have been booming already despite the stealing and the blatant corruption.

Andy-K
KWAA 11 years ago

They have already messed it up.Ghana is now in dire straits than before the Oil discovery.Because of bad governance.
Our politicians are so corrupt,they never think about the Nation nor the people who voted for them.

They have already messed it up.Ghana is now in dire straits than before the Oil discovery.Because of bad governance.
Our politicians are so corrupt,they never think about the Nation nor the people who voted for them.
Kofi 11 years ago

Osman, Please go back and read Kwaa's
comments and tell world if he mentioned
anybody's name.
Please Mr Osman don't act like a dog which
would attack anybody who comes closer to
his master , even if just to shake hands ...
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Osman, Please go back and read Kwaa's
comments and tell world if he mentioned
anybody's name.
Please Mr Osman don't act like a dog which
would attack anybody who comes closer to
his master , even if just to shake hands (with
that master).
agbesi francis 11 years ago

More monies are being milked off mother Ghana today as never before,at the expense of the ordinary Ghanaian Citizen.
What a mess we see and no one cares!
May the Good Lord Of All The Earth Visit us with His Vengeance and th ...
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More monies are being milked off mother Ghana today as never before,at the expense of the ordinary Ghanaian Citizen.
What a mess we see and no one cares!
May the Good Lord Of All The Earth Visit us with His Vengeance and the prayer of this Great & Noble Omanhene Come to Pass to save Ghana from Total collapse!
osman 11 years ago

Did we start the exploration of oil during Kufours regime?. Foolish talk from a clueless citizen.

Did we start the exploration of oil during Kufours regime?. Foolish talk from a clueless citizen.
Ibrahim Mahama. 11 years ago

Until Mahama finishes the construction of his 5-Star Hotel in Dubai, Nananom, you would not see or hear anything about your oïl money.

Until Mahama finishes the construction of his 5-Star Hotel in Dubai, Nananom, you would not see or hear anything about your oïl money.
Mringa Baby 11 years ago

Nana,
If we had 2 of your kind in Ghana, all will be well. Tell your colleague mumu chiefs to sit up and be counted. Their silence is too loud or they have been pacified as it has happened to the media in Ghana today?

Nana,
If we had 2 of your kind in Ghana, all will be well. Tell your colleague mumu chiefs to sit up and be counted. Their silence is too loud or they have been pacified as it has happened to the media in Ghana today?
Maame Abena 11 years ago

The Chiefs say the government must disclose all the revenue and benefits accrued from oil production since early 2011.

It is time to make Mahama accountable when the chiefs are not even sure about this corrupt government. ...
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The Chiefs say the government must disclose all the revenue and benefits accrued from oil production since early 2011.

It is time to make Mahama accountable when the chiefs are not even sure about this corrupt government.
Mahama is the type of people I call a smooth talker, they are the dangerous type, they will be killing you, and you will not even know it.
ADUANABA OGYA 11 years ago

NANA GOG WILL FORGIVE YOU FOR SNATCHING COMEDY'S WIFE AND GOD WILL FORGIVE YOU FOR KILLING BECAUSE CHIEFTAINCY.

NANA GOG WILL FORGIVE YOU FOR SNATCHING COMEDY'S WIFE AND GOD WILL FORGIVE YOU FOR KILLING BECAUSE CHIEFTAINCY.
ABBA 11 years ago

THE SPIRIT OF JUNE 4TH 1979 REVOLUTION IS TOTALLY DEAD BECAUSE MAHAMA LED NDC HAS LOOTED THE COFFERS OF THE NATION. NOW IT IS OBVIOUS THAT THE BLOOD OF GEN.I.K.ACHAMPONG AND THE OTHERS WHO WERE EXECUTED ARE INNOCENT.

THE SPIRIT OF JUNE 4TH 1979 REVOLUTION IS TOTALLY DEAD BECAUSE MAHAMA LED NDC HAS LOOTED THE COFFERS OF THE NATION. NOW IT IS OBVIOUS THAT THE BLOOD OF GEN.I.K.ACHAMPONG AND THE OTHERS WHO WERE EXECUTED ARE INNOCENT.
dan 11 years ago

THEY WILL BE HAUNTED BY THE INNOCENT BLOOD BY JJ RAWLINGS AND HIS HOODLUMS MAHAMA AND COM.

MURDERERS OF THE INNOCENTS

In addition to the 3 judges (who were not proven to have committed any crimes in a martial court or ...
read full comment

THEY WILL BE HAUNTED BY THE INNOCENT BLOOD BY JJ RAWLINGS AND HIS HOODLUMS MAHAMA AND COM.

MURDERERS OF THE INNOCENTS

In addition to the 3 judges (who were not proven to have committed any crimes in a martial court or a court of law) the following also were, innocently killed and today the innocent (from all tribes) blood ; still speaks and cries for justice:

Greater Accra Region

Major Sam Acquah, Madam Larmioko Adjebu, Azure Frafra, Akwei Allotey, Bokari Moshe, Alberta Rockson, Kwame Danso, Emmanuel Ashitey, Joseph Oduro, Samuel Kotey, Nash, Mnuanuan Alhassan, Gadzi Jamesi, Alex Aggrey, Joseph Kwaakye, Abukari Mukaila, E K Frimpong, Emmanuel Abbey, Rose Tetteh, Demawuna Grushie, Julius Odartey, Bonney Lartey, Okoe Allotey,
Mohamed Alhassan, Frank Yaro

Ashanti Region

Kwaku Kramo, Kwabena Nti, John Chinkwa, Akosua Addae, Kwame Kum, Gabriel Tseyi, Abdulai Moshie Abdu, Ibrahim, Osumanu Sissala, Kofi Gyaaman, Kwadwo Boateng, Benjamin Whyte, Dagarti Seidu, Raphael Avorga, Azzure Kussasi, Johnson Oware, Amma Agyeiwah, Alhamadi Maiga, Kwabena Dapaah, Osei Kwame, Kwaku Opoku, Kwame Opoku, Agnes Korkor, Kpele Bimoaba, Kwadwo Nsafoa, Abena Afra, Mohammadu Halifu, Kwame mekye, Amma Asantewaah, David Darko, Agyaba, Oanduku Mantse,Akua Takyiwaa, Moro Moshie, Mama Kanjarga, Cpl Joana Essien, Ali Grushie, Odiyifu Samuel Asare. Abu Kramo, GNTC 75 yr old Watchman at Kronum, Abena Kyerewa,

Eastern Region

Mrs Mary Solomon (wife of proprietor, Solomon Commercial College) under Yaw Akrasi Sarpong’s watch (then Eastern Regional Secretary and now Drug Enforcement Agency Boss) with no legal justification, Kwame Tetteh, S.K. Ampadu, Amma Ansah, Akosua Wiafe, Afuah Boahemaa, Osei Kofi, Mary Arkumaki, Adwoa Kyeraa, Vida Abla Amenuvor, Kudzonu Torgbe, James Olugan, Kwettey Narki, Cpl S K Sarpong, Kwasi Mensah, Kwabena Doh, Salifu Zabrama, Supt Owusu Siaw, Kwadwo Ampofo, Yaw Mosi, Adzo Adabla, Ossumanu, Bussanga, BB Bismark and family member (Aburi)

Tema

Joseph Boateng, Anthony Dagarti, Jacob Ashmond Mensah, Justice Quainoo Paul, Aklugu Tugo, Abu Piss, Emmanuel Kwesi Nukpor

Brong Ahafo Region

Oboti Konkonba, Abubakari Yakubu, Keana Tere, Kwabena Yendor, Saidu Gonja, D.K Deku, Adamu Moshie, Kwabena Oppong, Abu Bayou, Kwasi Ankoma, Kofi Amponsah, Abena Boaduwoah

Volta Region

Akakpovi Ahiaka (of Atidzeve), Samson Kwao (of Anloga), Ht anson Ankrah, Avorga Ahiagba, L/Cpl Owusu Peprah,
Agbodzihu Kudzordzi, Kwesi Boateng, Mawulawoe Forfoe, Hugeh, Dwame Amevor Kpedo, Agbotsi Duxo, Sherri Kwame Feleme,Grace Bagadu, Apedo Damalie, Labadi Kabre, Justin Kwame Egbadzor, selina Dankah, Winfred Degli, Kwame Dortogbi, Korkuvi Agbenyegah, Kwa rshie Azi , Atsu Gator, Nene Kinikini I, Kohi Sowrlo, Afatsao Gomado, Estey Amegayibor, Amos Kwasi Fiaybenya,

Western Region

Commander Barnor, Commander Adjavon, Petty Officer Hughes (shot by navy personnel), Joseph Yinta, Anthony Beyeeman, Kwesi Essuon, Awusu Walla, Sgd Joseph Aikins, Kwesi Sam, Atta Panyin,
Kwadwo Boamah, Kwesi Badu, Adwoa Nduah, Adjoba Woke, Kwame Dankwa, Kwame Poku, Kofi Nketia, No. 177168 A/ABJW, Ghanny Kow Ackon, Afua Harkowah, Barnaba Kwadwo, Kyaya, Armah Kojo, Kwasi Atta, Ama Attah, Grumah, Kwame Boateng, A djoa Sasa, Kwesi Ahwer

Central Region

Kojo Mensah, Edua Edua, Kofi Ankoma, Osumanu Sokoto, Kwame Addo, Kofi Badu, Kwasi Oguaman, Adwoa Ebuakwa, Michael Asante, Nana Korankye Sarfour II, Kwaka Aduoni, Kwasi Manu, Kwame Ketewa, Esi Essong, Kennedy Amissah, Kobinah Ntamaah

Northern Region

Misay Fulani, Hajia Bibata Kponlana, Seidu Allando, Jatawari Fulani, Challa Kokomba, Adama Mahama, Bawa Njasolo, Tia Nsaigri, Zakari Ibrahim, Baba Gazelle,

Upper Region

Yakubu Dogbeli, Azawe Achana, Aluguchaab ,Akansianab, Matiki Abugri, Jalawari Fulani, Kumajo Tonye, Emmanuel Kweku Ali, Alebadigi Adindamu, Bawa Aflblikame, Inni Dagoro, John Sasane, Amedagoro Aderi.

MAY THEIR SOULS REST IN PEACE
willie bonsu 11 years ago

very sad

very sad
Yaw Columbus Ohio 11 years ago

Nana even common public toilet can be constructed by this useless good for nothing party.They have been in power for 26 now and they are still making stupid noise.They are useless to the highest point. President Kuffuor took ...
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Nana even common public toilet can be constructed by this useless good for nothing party.They have been in power for 26 now and they are still making stupid noise.They are useless to the highest point. President Kuffuor took Ghana to the world for the first time and they came in to destroy and caused a mess.The rail system and other infrastructure built by Nkrumah and Kuffuor are under serious dilapidation. Look at our health care system. Complete mess.About 78% of senior secondary students couldn't make this year.What a terrible government.I hope they are buried forever.They always have stomach ,selfish outdated supporters to insult and defend their corrupt and terrible leaders and dismal performance .I blame the mass illiteracy rate by the way but change will come soon where everybody is going to realize how deadly this 10th century this political party is.
Adom 11 years ago

Has this chief been bold to ask Akuffo Addo where the Drill Ship money is? Let us in Ghana THINK POSITIVE for the country than to think Negative for everything .

Has this chief been bold to ask Akuffo Addo where the Drill Ship money is? Let us in Ghana THINK POSITIVE for the country than to think Negative for everything .
BIRAHMA 11 years ago

Nana do u declare the royalties that u receive to your subjects?

Nana do u declare the royalties that u receive to your subjects?
gyan 11 years ago

It is not the current govt but Kufour's govt. Nana when were you made the head.

It is not the current govt but Kufour's govt. Nana when were you made the head.
FREEDOM IN THE TRUTH 11 years ago

THIS ESSIKADU GUY IS AN NPP CARD HOLDER. THEY HIDE BEHIND YOUR CHIEFTANCY AND MAKE WILD CLAIMS FOR YOUR OWN GOOD. YES YOU HAVE SOME EDUCATION BUT THAT DOESN'T MEAN MUCH. WHAT WE HAVE IN GHANA IS THE MANY INTELLECTUAL DERELI ...
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THIS ESSIKADU GUY IS AN NPP CARD HOLDER. THEY HIDE BEHIND YOUR CHIEFTANCY AND MAKE WILD CLAIMS FOR YOUR OWN GOOD. YES YOU HAVE SOME EDUCATION BUT THAT DOESN'T MEAN MUCH. WHAT WE HAVE IN GHANA IS THE MANY INTELLECTUAL DERELICTS. STICK TO ESSIKADO ISSUES
Togbui Fiadzoe 11 years ago

Nana Wo ano hwam!!!! We need more Chiefs like you.

Nana Wo ano hwam!!!! We need more Chiefs like you.
C.Y. ANDY-K 11 years ago

Mahama has the power to right the blunder by Kufuor but he is rather messing up big time! He delivering the final stroke to kill us off! Here are the sobering facts.

THE PETROLEUM (EXPLORATION PRODUCTION) BILL 2013
A MODE ...
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Mahama has the power to right the blunder by Kufuor but he is rather messing up big time! He delivering the final stroke to kill us off! Here are the sobering facts.

THE PETROLEUM (EXPLORATION PRODUCTION) BILL 2013
A MODERN CONCESSION IN GHANA

“Africa’s natural resource wealth rights belongs to the continent’s citizens, but these citizens are being robbed of its benefits by revenue diversion, corruption, jobless growth and rising inequality,” Kofi Annan. Geneva, September 26th 2013.

Dr. Peter Eigen observed that The World Bank and Western Governments do not see anything wrong with the multinational companies engaged in extractive industries paying tens of millions of dollars into private accounts overseas to secure bad contracts and agreement in their favour. DW TV Journal interview, 31st December, 2013.
These are sobering observations to guide us in our quest for a “Better Oil Deal for the mass of Ghanaians,” not only a few connection men linked to the powers-that-be.
At long last, the much awaited Petroleum (Exploration and Production) Bill, which was withdrawn from Parliament in 2010 under protest from some of us, has finally arrived in a new form. Though I have some misgivings about the Bill in general, especially the numerous powers given to the Minister of Energy, my main concern are about the fiscal provisions it contain and what kind of fiscal regime or arrangement we are adopting to maximize the full potential of our natural oil and gas resources. The Bill has been cunningly designed to look like a “contract for work law” which governs production sharing agreement but it is not.
The Bill is essentially in all respect the Royalty Tax system which include some aspects of Joint Ventures and Production Sharing Agreement (PSA) in implementation to conform and fall in line with the current prevailing system which GNPC and the Ministry of Energy referred to as a Hybrid system. It is referred to as “Modern concession” because, unlike the old traditional concession under which only Royalties and Taxes are paid to the host government, this hybrid allows Ghana some participation interest, which makes the Bill look like a Joint Venture, or some loose form of partnership for which Ghana has to pay for capital cost development which is normal under both Joint Ventures and Production Sharing Agreements.
Normally, under Joint Ventures and Production Sharing Agreements, allocations are made from production to take care of daily operating and technical costs. Under this hybrid system which the World Bank and Oxfam America are forcing down the throat of Ghana through their Ghanaian well-resourced and financed surrogates, who are always on radio and TV, Ghana is being made to contribute also towards daily operating cost which I consider abnormal. Ghana, therefore, within the next 10 years would have to hand over US$ 1.8 billion to the Jubilee partners for participating in the project (Energizing Economic Growth in Ghana 2013). Since there is no provision in PNDC Law 84 to back this sort of bizarre arrangement which defies all international practice, the Draft Bill makes provision to capture this abnormality, see Section 10(b) (ii) of the Draft Bill.
The financial obligations that this clause would place on Ghana are so huge that the burden on the limited resources available to meet our infrastructural deficits cannot be underestimated if we have to adopt this hybrid system in the Draft Bill. The implication also is, as a Nation, we cannot increase our take from our own resources which belongs to us under the Constitution without having to pay heavily for it. This would create inequalities in sharing the oil revenue. This is the main disadvantage of operation under Joint Ventures.
This hybrid system also makes provision for minimal carried interest under which a small percentage of production is given for free as owners of the resource, something which does not exist in the old traditional concession. This carried interest ranges from 3% to 10% in the old contracts signed, but raised to 15% in the Draft Bill. The carried interest provisions are not found in PSA laws; what is found is how the profit oil is shared.
This hybrid system, referred to as the Modern Concession, was designed by the British and the Americans as an antidote to the Production Sharing Agreement which was started from the East – Indonesia precisely. It would be recalled the British and the American oil giants operating in that country protested vehemently against the PSA when it was introduced, arguing ineffectively that they took all the risks.
This Modern Concession is what the World Bank, IMF, Oxfam America and Revenue Watch are imposing on newly emerging oil producing countries in which their political leaderships and the elite technocrats are not smart and savvy enough and cannot read between the lines since they had no clue about these things to shape their consciousness. Perhaps, some might be smart and aware but decide to turn a blind eye for whatever expected benefits, real or imaginary, the boon might bring them as the gatekeepers and the men about town who become connection men and surrogates for these FOCs. One contract can make you a multi-millionaire, we all know; so it is much better to be on the side of the people with the money bags.
This Modern Concession is as equally exploitative as the old traditional concession. For example, Ghana should be earning close to US$5 billion in total at the end of 2013 under the PSA; God bless us if we did earn US$2 billion under the current prevailing system – Modern Concession. Ghana is losing almost US$3 billion within 3 years of operating the Jubilee Fields under this Modern Concession. See tables below:

Table 1.
PROJECTED POSITION 3 YEARS OF OPERATION ENDING 2013,
UNDER ROYALTY TAX SYSTEM
...........................................................Barrels........................US$.........................%
Total Output................ …96,077,000, .............10,262,573,617
Ghana .........................17,361,223 ...............1,840,197,044....... 17%
FOCs *................... .... 78,715,777.............. 8,422,376,573....... 83%

Note: The total investment of US$4 billion would have been fully recovered at the end of 2013.

Table 2.
PROJECTED POSITION UNDER PRODUCTION SHARING AGREEMENT 3 YEARS ENDING 2013

........................................ Barrels................... US$
Total Output .................96,077,000...............10,262,573,617
Royalty 5%..................... 4,803,850...................513,128,680
Production Cost.............10,950,000................1,180,737,040
Capital Cost Recovery....11,497,500...............1,239,773,892
Total Direct Cost............27,251,350............... 2,933,639,612
Profit Oil........................68,825,650.................7,328,934,005

Ghana 60%...................41,295,390................4,397,360,403
FOCs 40%.....................27,530,260...............2,931,573,602
Total..............................68,825,650...............7,328,934,005

Table 3.
PROJECTED TOTAL DUE GHANA UNDER PRODUCTION SHARING AGREEMENT
3 YEARS ENDING 2013
................................................ Barrels.................US$........................%
Royalty.........................4,803,850..............513,128,680
Profit Oil.....................41,295,390...........4,397,360,403
Total:.............................6,099,240…......4,910,489,083………..47.98%

Table 4
.PROJECTED LOSSES TO BE SUFFERED BY GHANA 3 YEARS ENDING 2013
....................................Barrels....................US$
PSA.............................46,099,240...........4,910,489,083
RTS.............................17,361,223...........1,840,197,044
Losses.........................28,738,017...........3,070,292,039

Table 5.
PROJECTED TOTAL DUE FOREIGN OIL COMPANIES 3 YEARS ENDING 2013
………............................Barrels.................US$........................%
ProductionCost.................10,950,000........1,180,737,040
CapitalCostRecovery........11,497,500........1,239,773,892
Profit.Oil...........................27,530,260.......2,931,573,602 Total:.................................49,977,760.......5,352,084,534. 52.02%

If Ghana was operating under the PSA, Ghana would be earning as much as over US$50 billion in 20 years as against the US$20 billion and the US$19 billion estimated by IMF and the World Bank respectively.

Note: The conservative estimated value of the Jubilee Fields which is estimated to hold about 2 billion barrels of oil is US$160billion, excluding the value of the associated gas.
Since 2009, I have been telling Ghanaians that there is no economic and moral justification to engage a contractor who spent about US$4 billion, as they claimed, to work on our oil valued over US$160 billion, and before production begun the World Bank and the IMF rushed to announce to us that, us owners of the oil, we would be receiving about US$20 billion and we are happy and excited and have stopped thinking. They are taking the bulk of the revenue because they said they brought their money to invest. Yes, they brought in some money, but there is an alternative which can insure us a fair share of our wealth and good returns to them too; an alternative which countries far lesser in stature than Nkrumah’s Ghana are adopting.

This is the message I have carried to the political class including Parliament, the elite technocrats, Institute of Economic Affairs, Centre for Economic Policy Analysis, KASA, Imani Ghana, GNPC, Ministry of Energy, Isodec, Ghana Institute of Journalism, the Academia of our tertiary institutions, Africa Centre for Energy Policy, PAIC, Civil Society Organization Platform on Oil and Gas, Chiefs, The Christian Council and prominent individuals in high places but they all failed to understand me because in their mind, in the truest of colonial mentality and subservience, the white man has come to help us to get our oil out of the ground and we must be grateful for whatever we get, as the oil would have remained in the ground! Really?! Some people even accused me of being influenced by Mr. Kofi Wayo, as if that is a horrible disease I have caught.
If the Bill is passed in its current form, it would enable the foreign oil companies to make between 500% to 600% net returns on capital investments thereby denying us a fair share of our wealth. Indeed, Ghana is being robbed of its oil wealth the same way as gold and other minerals which have been mined in Ghana for over a century with no sign of advanced development in the mining areas and the country comparable to mining areas in the Western world. It is surprising Ghana is about to pass a law to legalize and perpetuate the robbery of her citizens Kofi Annan complained about. If the Bill is passed into law, it would amount to an economic suicide committed by the leaders of Ghana, plunging the current generations and the future ones into eternal economic bondage which can only be described as modern day slavery. Neo-colonialism is now too soft a word to describe the ongoing plunder of many African countries.
I am by this publication appealing to Dr. Kofi Annan for and on behalf of the People of Ghana to come down to talk to the President and his Cabinet to invite independent international experts to have a second look at the fiscal provisions in the Bill and other aspects of it. I equally appeal to Dr. Peter Eigen to assist Dr. Kofi Annan in this regard. I am aware he was responsible for drawing the formidable fiscal regimes for Botswana and Namibia governing their extractive industries, making them among the best on the continent.

By Solomon Kwawukume
solomon.kwawukume@yahoo.com
Author – Ghana’s Oil and Gas Discoveries: Towards Full Maximum Benefits
George Gyamfi 11 years ago

I wish all these talkatives will read your article to understand what is happening. Very informative and I personally appreciate it.

Stay blessed

I wish all these talkatives will read your article to understand what is happening. Very informative and I personally appreciate it.

Stay blessed
wiseman 11 years ago

Mr Andy cant we change the percentage wise coz our 10% is too little. why????

Mr Andy cant we change the percentage wise coz our 10% is too little. why????
Kerosine 11 years ago

Nana, your demand is right. But please check out who gave 88% of the oil to foreigners and pocketed 2% for themselves. They could have used the Netherlands formula.

Nana, your demand is right. But please check out who gave 88% of the oil to foreigners and pocketed 2% for themselves. They could have used the Netherlands formula.
Honesty 11 years ago

EnLighten us please. What is the Netherland formula.

EnLighten us please. What is the Netherland formula.
Kerosine 11 years ago

Netherland insisted that any company which prospecting for oil will not have more than 49%. They all agreed and today the sovereign wealth of the kingdom of Netherlands is the envy of the world. Every citizen is worth $1,00 ...
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Netherland insisted that any company which prospecting for oil will not have more than 49%. They all agreed and today the sovereign wealth of the kingdom of Netherlands is the envy of the world. Every citizen is worth $1,000,000.00
nobody 11 years ago

This ugly call chief look at stupid man does he think ghana would be heaven in a day when Kouffour was power Ghana was in mess God is going to punished him first before anybody useless chief because Mahama have block al ...
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This ugly call chief look at stupid man does he think ghana would be heaven in a day when Kouffour was power Ghana was in mess God is going to punished him first before anybody useless chief because Mahama have block all the loopose that they have been steeling money the calabouley that they have been my uselee chief you this Ashanti would not that post no more .Mahama would win again and again
Yaw Poku, USA 11 years ago

No wonder you are called nobody. I don't to say anything further.

No wonder you are called nobody. I don't to say anything further.
KOKI 11 years ago

Nana, I share your sentiments only that God is different from us humans; He will copiously forgive governments that fail their people in mismanaging the natural resources He freely gives especially when governments admit thei ...
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Nana, I share your sentiments only that God is different from us humans; He will copiously forgive governments that fail their people in mismanaging the natural resources He freely gives especially when governments admit their ineptitude and leave the scene honourably in election time. But when they continue to subjugate their people through mismanagement a time would come the cries of the oppressed would trigger deliverance and judgement for every nefarious act!

But we must hold ourselves to scrutiny for our roles in diverse ways in strengthening the lacklustre performance of governments, the glorification of wealth in societies without any hindsight to the means of wealth acquisition. When some chiefs gapingly endorse politicians who under perform and even accept inducement largesse e.g. cars during election time, it becomes difficult to blame governments alone. Could be that some of the national saboteurs in the oil industry are from within the other side of government? Can we blame electorates that prop up corrupt governments through election?
Fighting the rot in our society must be a shared responsibility especially in the oil industry.

All hands must be on deck. Certainly, the nation must demand accountability from the current government for its stewardship over the recent oil resource.
kwabena owusu robbie texas u.s.a 11 years ago

Nananom this is simple but its good you are all speaking up now. well ghana is seriously exchanging out oil barrels for china loans and other loans AKA barter trade so as for money na lie thats this is the bitter truth.

Nananom this is simple but its good you are all speaking up now. well ghana is seriously exchanging out oil barrels for china loans and other loans AKA barter trade so as for money na lie thats this is the bitter truth.
Why,why 11 years ago

God. Shouldn't forgive

God. Shouldn't forgive
GBORTSUI 11 years ago

NANA, WHAT WILL BE LEFT OF THE OIL NDC INHERITED AFTER THE 20 YRS IT HAS BEEN LOANED TO THE CHINEESE? BETTER REVISE YOUR NOTES

NANA, WHAT WILL BE LEFT OF THE OIL NDC INHERITED AFTER THE 20 YRS IT HAS BEEN LOANED TO THE CHINEESE? BETTER REVISE YOUR NOTES
Ghanaba 11 years ago

When Mahama came to Worcester about a week and half ago he told us Ghana only received $700,000 in oil revenue last year How could that be, Its that really ture!!!! How much did he pocket

When Mahama came to Worcester about a week and half ago he told us Ghana only received $700,000 in oil revenue last year How could that be, Its that really ture!!!! How much did he pocket
dan 11 years ago

IN THE POCKETS OF MAHAMA, HIS FAMILY, HIS FAT ARSE GIRLFRIENDS AND RELATIVES, THE MINISTER OF FINANCE, THE OIL MINISTER, IF WE HAVE ONE, WAMPAH, BARTON O, WOYOME, ISOFOTON, WATERVILLE, SUBAH, SADA, GYEEDA, 'YES' MERCHANT BAN ...
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IN THE POCKETS OF MAHAMA, HIS FAMILY, HIS FAT ARSE GIRLFRIENDS AND RELATIVES, THE MINISTER OF FINANCE, THE OIL MINISTER, IF WE HAVE ONE, WAMPAH, BARTON O, WOYOME, ISOFOTON, WATERVILLE, SUBAH, SADA, GYEEDA, 'YES' MERCHANT BANK FORTIZ, ABLAKWA, ALL THOSE IRRESPONSIBLE OUT OF COLLEGE BOY AND GIRL MINISTERS WHO WITHIN A FEW YEARS OF WORKING AT THEIR FIRST JOBS, HAVE BOUGHT MANSIONS AND HOUSES BOTH IN GHANA AND ABROAD.

THIS IS WHERE THE OIL MONEY HAS GONE - TO THE POCKETS OF THE PLANNING, LOOTING AND SHARING BRIGADE WITH THEIR CEO AS JOHN MAHAMA.

THE FACT THAT THE GOVERNMENT IS DOING NOTHING ABOUT GETTING OUR MONIES BACK FROM WOYOME DESPITE THE COURT ORDER OBTAINED BY AMIDU, IS AN INDICATION OF THE GOVERNMENT'S COMPLICITY IN DEFRAUDING GHANA BIG TIME.
EZEKIEL 11 years ago

What is there after the oil has been pumped out ??? The Right to Information Bill has been sitting there ALL THESE YEARS un-attended to. Mills PROMISED to pass it,Well, HE DIDN'T HAVE THE BALLS! Mahama IS NOT INTERESTED and t ...
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What is there after the oil has been pumped out ??? The Right to Information Bill has been sitting there ALL THESE YEARS un-attended to. Mills PROMISED to pass it,Well, HE DIDN'T HAVE THE BALLS! Mahama IS NOT INTERESTED and the main opposition Party, INSTEAD of agitating for this Bill to be passed, are just SELFISHLY LOOKING for POWER TO STEAL also!!
WE HAVE TO GET THIS RTI BILL. The opposition IS TOO DAFT to be called such. ALL THEY WANT is Also their Car and housing ALLOWANCES!What a STUPID/SELFISH NATION OF FOOLS RULING US ???
aburo 11 years ago

Nana God will bless u

Nana God will bless u
Iwan 11 years ago

Can't blame this chief if his sources are always from the net. He has forgotten that we Ghanaian lie alot. We go to bed with a thought and by daylight it is a fact from Govenment. Either the govt. counter the nonsence or get ...
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Can't blame this chief if his sources are always from the net. He has forgotten that we Ghanaian lie alot. We go to bed with a thought and by daylight it is a fact from Govenment. Either the govt. counter the nonsence or get consumed by loudmouth chiefs like this one.
NDC SUPPORTER 11 years ago

Our leaders really need the fear of God to keep them in check and its is a shame that this chief is probably an idol worshipper so God will not answer his paryers

Our leaders really need the fear of God to keep them in check and its is a shame that this chief is probably an idol worshipper so God will not answer his paryers
Osei Yao 11 years ago

THIS SILLY CHIEF DOES NOT WANT TO REMEMBER THAT THE AGREEMENTS COVERING MOST OF THE DRILLING FIELDS WERE SIGNED BY THE NPP GOVERNMENT. THEY GAVE AWAY OUR OIL. MAHAMA MUST MAKE THIS KNOWN TO THE PEOPLE OF GHANA.

THIS SILLY CHIEF DOES NOT WANT TO REMEMBER THAT THE AGREEMENTS COVERING MOST OF THE DRILLING FIELDS WERE SIGNED BY THE NPP GOVERNMENT. THEY GAVE AWAY OUR OIL. MAHAMA MUST MAKE THIS KNOWN TO THE PEOPLE OF GHANA.
Say it as it is 11 years ago

Fools do they read , or are just hearday listerners. If one reads one will know what is going on, one needs not be told.
Reading is the key to find out is things are working or not. Not drinking from morning to evening.

Fools do they read , or are just hearday listerners. If one reads one will know what is going on, one needs not be told.
Reading is the key to find out is things are working or not. Not drinking from morning to evening.
Best Man 11 years ago

Nana, some ada prmnt chiefs in d kantry shud emulate u and stp cltin millions of dollars frm d presidnt.

Nana, some ada prmnt chiefs in d kantry shud emulate u and stp cltin millions of dollars frm d presidnt.
Peter Francisco 11 years ago

Some people still don't get it. Just stop banking your hopes on natural resources. Making clean and world class products from these natural resources; plus local and foreign consumption of these home made products is key to w ...
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Some people still don't get it. Just stop banking your hopes on natural resources. Making clean and world class products from these natural resources; plus local and foreign consumption of these home made products is key to what generates the wealth of a nation. These are very simple every day economics.
kasapa 11 years ago

God will first punish you are your subjects. Foolish Chief, what have you done for your community? you have sold almost all the lands and misused the proceeds for stupid things that the community did not benefit.

God will first punish you are your subjects. Foolish Chief, what have you done for your community? you have sold almost all the lands and misused the proceeds for stupid things that the community did not benefit.
Dilly Circus 11 years ago

Nana Kobina Nketia, I understand your pain.Ghana has been hijacked by J J Rawlings and his murderous corruptible NDC for almost 30 yrs. This NDC machinery has created a schematic "create, loot,and share" mechanism that benefi ...
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Nana Kobina Nketia, I understand your pain.Ghana has been hijacked by J J Rawlings and his murderous corruptible NDC for almost 30 yrs. This NDC machinery has created a schematic "create, loot,and share" mechanism that benefit only NDC party bandits and has never had the welfare of the nation or the people in mind. They have become so successful because Rawlings made the security forces a pilitical wing of the NDC by purging the security forces of Akans and recruiting Anglos and Northerns. Look and listen to the names at the people who control these security forces. So they have no interest to cut off the hand that feeds them despite the corruption. Show me one person who has been to jail under this NDC govt. despite being caught in this cycle of corruption. GHana was sold on propaganda by J J Rawlings and his NDC bandits. They will keep looting the nation until the people rise up and say enough is enough. On the flip side, this banditry could plunge this country into a civil war. Listen, you can fool the people most of the time,but not all the time. More than 30 yrs of of RAwlings and his NDC deception is enough.
Chii 11 years ago

Your problem is tribal and therefore must remain with you. Ghana is moving and is moving. Join the wagon or you will find yourself abandoned along with your bigotry.

Your problem is tribal and therefore must remain with you. Ghana is moving and is moving. Join the wagon or you will find yourself abandoned along with your bigotry.
TOGBE 11 years ago

Nana mo. Nyame nhyirawo. Womma wo animounyam mmoroso.

Nana mo. Nyame nhyirawo. Womma wo animounyam mmoroso.
ANTI 11 years ago

THE GOVERNMENT MADE THE OIL TRANSACTIONS OPAQUE TO ENABLE THEFT OF THE PEOPLES' MONEY GO UNDECTED. FORTUNATELY, ACCOUNTING FOR THE OIL REVENUES COULD BE DONE LONG AFTER THE CURRENT GOVERNMENT HAVE LEFT OFFICE. HOWEVER, THE C ...
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THE GOVERNMENT MADE THE OIL TRANSACTIONS OPAQUE TO ENABLE THEFT OF THE PEOPLES' MONEY GO UNDECTED. FORTUNATELY, ACCOUNTING FOR THE OIL REVENUES COULD BE DONE LONG AFTER THE CURRENT GOVERNMENT HAVE LEFT OFFICE. HOWEVER, THE COUNTRY'S LAW ENFORCEMENT SHOULD PROSECUTE AND METE OUT STIFF SENTENCES IF THEFT OF THE PEOPLE'S MONEY IS DETECTED. IN CHINA, CORRUPT GOVERNMENT OFFICIALS ARE SENTENCED TO DEATH BY FIRING SQUAD. I THINK GHANA CAN LEARN FROM CHINA ABOUT HOW TO PREVENT CORRUPTION.
truth 11 years ago

If POLITICIANS will loot the money this should be basic necessity for all Ghanaians.

If POLITICIANS will loot the money this should be basic necessity for all Ghanaians.
bewise 11 years ago

The citizens have to be strong and stop supporting shady politicians, they have to call for accountability from those in office and if worse comes to worse, send the shady ones to jail seize all the worldly possessions. It is ...
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The citizens have to be strong and stop supporting shady politicians, they have to call for accountability from those in office and if worse comes to worse, send the shady ones to jail seize all the worldly possessions. It is time that these corrupt politicians start to pay for their evil ways. regardless of family.
Frank 11 years ago

When will patriotic Ghanaians stop politicing every patriotic statement. This is no NDC or NPP, but Ghana where we do not have anywhere to go except here. Let us get mature!

When will patriotic Ghanaians stop politicing every patriotic statement. This is no NDC or NPP, but Ghana where we do not have anywhere to go except here. Let us get mature!
NFANTE GYIMII 11 years ago

1D10TSM YOU ARE CRYING

1D10TSM YOU ARE CRYING
Ugly Akufo Addo 11 years ago

What is this animal talking about ? Stupid fool

What is this animal talking about ? Stupid fool
ADANKO 11 years ago

WHAT A PITTY. NDC FOUGHT TOOTH AND NAIL TO GET POWER AND CHOP EVERYTHING NYAFU NYAFU. LOOK AT ALL THE MANY SCANDALS EVERY DAY EVERY WHERE. THEY HAVE NO CONSCIENCE, NO FEELING JUST HARDENED HEARTS THAT ARE BENT ON CHOPPING A ...
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WHAT A PITTY. NDC FOUGHT TOOTH AND NAIL TO GET POWER AND CHOP EVERYTHING NYAFU NYAFU. LOOK AT ALL THE MANY SCANDALS EVERY DAY EVERY WHERE. THEY HAVE NO CONSCIENCE, NO FEELING JUST HARDENED HEARTS THAT ARE BENT ON CHOPPING AND HAVING GOOD TIME. WHEN YOU CHOP AND YOU ARE CAUGHT THEY JUST RECYCL;E YOU. POOR GHANA
APOSTLE ELIJAR 11 years ago

You made a point but unfortunately the contract that we signed with these oil and gas companies did not benefit us as a country. Those who signed the contract are making more money than the country as a whole. You NEED to go ...
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You made a point but unfortunately the contract that we signed with these oil and gas companies did not benefit us as a country. Those who signed the contract are making more money than the country as a whole. You NEED to go back and do your research well and you will know where the money is going. Thanks for your point.
Tayam Clifford 11 years ago

What u have just said is thé wright ward

What u have just said is thé wright ward
WHERE 11 years ago

“We have celebrated the 100th million barrel of oil, how much did our government or the nation get and where is the money?”-Awulae Annor Adjaye Paramount Chief of the Western Nzema Traditional Area.

“We have celebrated the 100th million barrel of oil, how much did our government or the nation get and where is the money?”-Awulae Annor Adjaye Paramount Chief of the Western Nzema Traditional Area.
Paapa 11 years ago

How many lands did you sell to more than one person? Talk is cheap.

All of corrupt old duades must vacate position and give the youth a chance.

How many lands did you sell to more than one person? Talk is cheap.

All of corrupt old duades must vacate position and give the youth a chance.
Emmanuel Agbesi RSA 11 years ago

A real chief/Nana would rather pray for his people, and ask for God's wisdom not to invite God in a negative way.

A real chief/Nana would rather pray for his people, and ask for God's wisdom not to invite God in a negative way.
drah 11 years ago

GOD WILL NEVER FORGIVE THEM.

GOD WILL NEVER FORGIVE THEM.
Stan Pobee 11 years ago

Nana Nketsia, please demand some of the oil monet to rehabilitate Essikadu where you are a chief of.Essikadu is a total eyesore and a disgrace. I am sure you cannot be proud of being the chief of such a place. Act now. Stop t ...
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Nana Nketsia, please demand some of the oil monet to rehabilitate Essikadu where you are a chief of.Essikadu is a total eyesore and a disgrace. I am sure you cannot be proud of being the chief of such a place. Act now. Stop the talking and act now otherwise your people will very soon show their dissatisfaction with you. You have influence within some of the top individuals of the NDC govt. Some of them were even your classmates and childhood friends.
Osei kuffour 11 years ago

Kuffour had sold the oil already nana.. What are you talking about ?
If the oil is giving you Any money , will you go to IMF for bailout?
There is a documentry I watch on American television about The Ghana oil find , call ...
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Kuffour had sold the oil already nana.. What are you talking about ?
If the oil is giving you Any money , will you go to IMF for bailout?
There is a documentry I watch on American television about The Ghana oil find , called THE BIGMEN after you done watching it I guess you will be ready to ask God to curse Kufour and his family .
The reason why we the NPP is finding it hard to come to power was because of what kuffour did when he got power .
Sad. Smh
mickey 11 years ago

Nana, with this fool for a president, what do you expect? Mess up!

Nana, with this fool for a president, what do you expect? Mess up!
mensah abrampa 11 years ago

There's no plausible excuse why the people of Ghana cannot demand accountability from those who have administered the oil revenue from day one. The President's annual State of the Nation address should have been the platform ...
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There's no plausible excuse why the people of Ghana cannot demand accountability from those who have administered the oil revenue from day one. The President's annual State of the Nation address should have been the platform to render accounts to the people. What is the President waiting for? The lack of accountability means some sneaky business is going on. It's about time we started to ask the President for accountability on the oil revenue if he won't do it voluntarily.
olu 11 years ago

Some one should tell this NPP fanatic that the oil find was mess up by NPP at the contract level. 10% is our share. If the Omahene wants to know how mch the country got out of the 100m barrel we lifted, he should first work o ...
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Some one should tell this NPP fanatic that the oil find was mess up by NPP at the contract level. 10% is our share. If the Omahene wants to know how mch the country got out of the 100m barrel we lifted, he should first work out 10% of the 100m barrels and multiply that (10m barrel)by crude price. Alternatively, he can check in the daily graphic for such information. The trouble is that when NPP Omahenes failed to accept the fact that the oil revenue is known and want to make political speeches, they end up making ass of themselves. I pity this npp chiefs
ghanaman 11 years ago

well god blss you nana.ghana need kline water good highways

well god blss you nana.ghana need kline water good highways
WAZIRAZI 11 years ago

YES HE IS RIGHT THIS GOES TO BOTH NDC AND NPP LEADERS

YES HE IS RIGHT THIS GOES TO BOTH NDC AND NPP LEADERS
Ritewing 11 years ago

Do not confuse yourself Wazirazi. The chief was specific. He addressed the ruling government who on all accounts have been anything but honest. Leave the NPP in all this. It least, the NPP have given Ghana what Tetteh Quarshi ...
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Do not confuse yourself Wazirazi. The chief was specific. He addressed the ruling government who on all accounts have been anything but honest. Leave the NPP in all this. It least, the NPP have given Ghana what Tetteh Quarshie gave the Gold Coast over a century ago. Ghanaians ought to celebrate Kuffour and the NPP, who from the bush, found oil under the seabead which is now the future of our country. The paramount chief is mad because he sees this oil, our last hope, being systematically mismanaged by an incompetent and a stealing gang. Kudos to the chief, the ruffians being fed with the cramps can continue to fool themselves. But they will soon learn how stupid and foolish they have been.
Abdul 11 years ago

God see's and know the sabotage and doom prophecies being carried out by NPP just to get power.
NPP is diverting gov't's attention which is the main cause of our current predicament. So, Nana talk to your people to demonstr ...
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God see's and know the sabotage and doom prophecies being carried out by NPP just to get power.
NPP is diverting gov't's attention which is the main cause of our current predicament. So, Nana talk to your people to demonstrate patriotism.
MR MAWEGYATA 11 years ago

NANA TELL YOUR SUBJECTS NOT TO VOTE FOR THIS CURRENT GOVERNMENT, THEY ARE TOO CORRUPT EVERYBODY IN GHANA IS TALKING ABOUT IT INCLUDING YOU NANANOM WHO NORMALLY WOULD NOT COMMENT ON GOVERNANCE AT LEAST IN PUBLIC, BUT NOW YOU A ...
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NANA TELL YOUR SUBJECTS NOT TO VOTE FOR THIS CURRENT GOVERNMENT, THEY ARE TOO CORRUPT EVERYBODY IN GHANA IS TALKING ABOUT IT INCLUDING YOU NANANOM WHO NORMALLY WOULD NOT COMMENT ON GOVERNANCE AT LEAST IN PUBLIC, BUT NOW YOU ARE DOING IT.
GHANABA 11 years ago

Empty oil barrel makes the loudest noise. Why don't you ask NPP who signed the oil contracts and gave it away cheap?

Empty oil barrel makes the loudest noise. Why don't you ask NPP who signed the oil contracts and gave it away cheap?
Kwasi Poku 11 years ago

No one should insult or blame this person for what he has said even though it might not be appropriate. He is very frustrated as are many Ghanaians. The level of pilferage, theft and waste of the people's money in Ghana by go ...
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No one should insult or blame this person for what he has said even though it might not be appropriate. He is very frustrated as are many Ghanaians. The level of pilferage, theft and waste of the people's money in Ghana by government appointees and politicians is beyond comprehension. Heard an anecdote that a Ghanaian appointee to a foreign post for four years, spent over three (3) million dollars not cedis purchasing and shipping mining equipment to Ghana after his service. Where did he get the money and how much was he being paid a year?
Joe 11 years ago

Mahama should be he'd responsible.

Mahama should be he'd responsible.
Kofi 11 years ago

The most celebrate d chief of our time.The most distinguished personality of our time.Bravo

The most celebrate d chief of our time.The most distinguished personality of our time.Bravo
Efo Kwaku Canada 11 years ago

Only the Asantehene who support this fools and idiots gov't for his selfish gains every sensible Ghanaian know that NDC is fools party , take time and observe their Dr's and when they are talking and if such people are runnin ...
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Only the Asantehene who support this fools and idiots gov't for his selfish gains every sensible Ghanaian know that NDC is fools party , take time and observe their Dr's and when they are talking and if such people are running a nation don't expect anything good they are cursed party trust me if we give them 5 trillion they will still borrowed and run with deficits
Paapa Tandoh 11 years ago

The best comes from the west and indeed the wise chiefs are also from the west for boldly standing up to government and requesting for the revenue. We the westerners are tired and we demand them so that we too can progress as ...
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The best comes from the west and indeed the wise chiefs are also from the west for boldly standing up to government and requesting for the revenue. We the westerners are tired and we demand them so that we too can progress as westerners and as a fountry
Steve 11 years ago

Nana, you are free to contest the 2016 elections as the flag bearer of the NPP, ok? Good luck Mr. 'Paramount Chief'

Nana, you are free to contest the 2016 elections as the flag bearer of the NPP, ok? Good luck Mr. 'Paramount Chief'
puley 11 years ago

Is so disgusting and appalling to hear these stupid followers of ndc and amateurish mahama talking nonsense. Yes I know you guys are being fed by how much insults you rain on others whenever a substantive issues are being rai ...
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Is so disgusting and appalling to hear these stupid followers of ndc and amateurish mahama talking nonsense. Yes I know you guys are being fed by how much insults you rain on others whenever a substantive issues are being raised but for Christ sake can't you guys be reasonable for a minute? This gov' is now selling Ghana to IMF just for loans meanwhile billions of cedis are being generated from the oil revenue. Where does these monies go? We talk about it and you will have monkeys like you to exhibit your monotonous ignorance. Is sad and mahama is proving to us while some of the northerners are still fools. Nkwasiasem ara kwa.
Joe Pasaasa 11 years ago

Mahama and NDC are dispicable criminals posing as politicians whose core goal is to steal, kill and destroy Ghana.

Why can't they account for how much we have received from our oil, and where the money is or how they have ...
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Mahama and NDC are dispicable criminals posing as politicians whose core goal is to steal, kill and destroy Ghana.

Why can't they account for how much we have received from our oil, and where the money is or how they have been used.

God has a special place in hell for them.
mr amin 11 years ago

nana u have spoken well. where is the money? pls vote the NDC out they lack the know how.

nana u have spoken well. where is the money? pls vote the NDC out they lack the know how.
hon mahadin wa 11 years ago

Chief, you are only giving yourself out for those boys with sharp teeth to insult.This pressure on govt could have been done in the quite.This current gov't is still leaving in the past where citizens were deceived with all s ...
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Chief, you are only giving yourself out for those boys with sharp teeth to insult.This pressure on govt could have been done in the quite.This current gov't is still leaving in the past where citizens were deceived with all sort of false promises.Citizens are wide awake to the extend that they punished npp in 2008 even for minor excesses.So will NDC go for incompetence and deceit.My uncle President Mahama, as much as I feel attach to you as a moternal uncle is to time go away with the little credibility left in you.
Concern 11 years ago

Kuffour and NPP managed to bring us out of IMF without oil money. However, NDC has managed to take us back to IMF with all the touted oil money. Ghana must open her eyes and stop the political blindness that is destroying the ...
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Kuffour and NPP managed to bring us out of IMF without oil money. However, NDC has managed to take us back to IMF with all the touted oil money. Ghana must open her eyes and stop the political blindness that is destroying the nation.
Gyeeda, Sada, Subah, Woyome 11 years ago

NDC is a criminal organization. Jon mahama is a thief so he will die with Okugyato Aboakwa, Asiedu Nkasei, Betty Mould, Kwabena Duffour, Jon Woyome, Ebo bAton Oduro, Fiifi Kwata, Alonte Jabocs, Aminsa Atta to mention but only ...
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NDC is a criminal organization. Jon mahama is a thief so he will die with Okugyato Aboakwa, Asiedu Nkasei, Betty Mould, Kwabena Duffour, Jon Woyome, Ebo bAton Oduro, Fiifi Kwata, Alonte Jabocs, Aminsa Atta to mention but only a few. Then people like the rat man Tsikata (look at his teeth) and Thony Lithur with his wife(Oye Lithur) who sent the bribe to Atuguba will all die this year or be seriously ill by 2016 election time. The only person to remain healthy in NDC s honorable Martin Amidu.
amenyo 11 years ago

Your families will die before them. Stupid npp man. Is the northerners not from Ghana to rule this country. Or Ghana is for MPP or Ashanti. The contract the govt signed lack merit so why this stupid comments from fools suppor ...
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Your families will die before them. Stupid npp man. Is the northerners not from Ghana to rule this country. Or Ghana is for MPP or Ashanti. The contract the govt signed lack merit so why this stupid comments from fools supporters insulting everyone who did not vote for npp.
sarpong. 11 years ago

Well spoken Nana. Let me also ask a simple question,how many schools children have seen crude oil here in ghana? Apart from the one showed to us on tv. I have not seen this crude with my naked eye. How much more the cash from ...
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Well spoken Nana. Let me also ask a simple question,how many schools children have seen crude oil here in ghana? Apart from the one showed to us on tv. I have not seen this crude with my naked eye. How much more the cash from it. God help Ghana.
Akwesi Asempa 11 years ago

Nana Nketia just look at Essikado and ask yourself; what have my ruling family done for Essikado ? That part of Sekondi looks like Zongo. No development ,no sewerage system , people still shit at street corners .
And you hav ...
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Nana Nketia just look at Essikado and ask yourself; what have my ruling family done for Essikado ? That part of Sekondi looks like Zongo. No development ,no sewerage system , people still shit at street corners .
And you have the nerve to talk about the government .Idiot king. Examine your own backyard before you can criticize somebody else .
kaketonti 11 years ago

The "t"chief is broke.No good money from selling the land.Politicians just arrange and give him some AKPETESHI.And he will be OK.

The "t"chief is broke.No good money from selling the land.Politicians just arrange and give him some AKPETESHI.And he will be OK.
Lord Tennison 11 years ago

A good and answerable question.

A good and answerable question.
Ghanaian Patriot 11 years ago

Do Mahama & his NDC thugs care, They don't. They are armed robber disguised as politicians

Do Mahama & his NDC thugs care, They don't. They are armed robber disguised as politicians
Edem 11 years ago

@tk. For your information kfour never sold 1 barrel of oil before your thieving and corrupt gov. took over in 2008. Ndc has stolen all the oil money,world cup money , gyeeda,Suba,sada,woyome,waterville ,etc. God will punish a ...
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@tk. For your information kfour never sold 1 barrel of oil before your thieving and corrupt gov. took over in 2008. Ndc has stolen all the oil money,world cup money , gyeeda,Suba,sada,woyome,waterville ,etc. God will punish all who vote Ndc as well as their descendants for the hardship they have inflicted on Ghanaians.!
SHEHU 11 years ago

"God shouldn't forgive Gov't if it messes up our oil" - Nana Kobina Nketia.

"We have celebrated the 100th million barrel of oil, how much did our gov't or the nation get and WHERE IS THE MONEY" - Awulae Annor Adjaye.

"C ...
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"God shouldn't forgive Gov't if it messes up our oil" - Nana Kobina Nketia.

"We have celebrated the 100th million barrel of oil, how much did our gov't or the nation get and WHERE IS THE MONEY" - Awulae Annor Adjaye.

"Corruption has reached(has crossed)the tipping point" -Georgina Theodora Wood.

"Taxpayer's money was misapplied" - NIA.

"Roads Minister confesses to misapplication of Road Fund".

"NDC acquires 20-acre land for party school".

"NDC admits ownership of ultra-modern office complex".

"IMF Bailout: Ghana's team off to Washington for final talks".

In the face of all this thievery/looting, do we need IMF bailout?

"Ghana likely to mismanage IMF funds" -Dr. Nduom.

Clearly, Ghana is headed in the wrong direction and the Mahama NDC gov't needs to be massively voted out in 2016.
Solja 11 years ago

nana nketsiah is bitter cos he's the chief of sekondi and not of any of the locations where the oil is at.npp has greater share and not the current govt.the worst ndc can do being in power is to chop chop the monies and lie a ...
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nana nketsiah is bitter cos he's the chief of sekondi and not of any of the locations where the oil is at.npp has greater share and not the current govt.the worst ndc can do being in power is to chop chop the monies and lie about them .

go floss joe ghartey's teeth.now god should not forgive is what its gotten to?fyi,god forgives.always.
Nene ( Ningo Prampram ) 11 years ago

Nana mo ne kasa
God bless you and your generations.

Nana mo ne kasa
God bless you and your generations.
NON ALIGNED 11 years ago

God never will forgive all the coup plotters who overthrew OSAGYEFO DR. KWAME NKRUMAH, for this present Ghana.
They did so, for their own personal, SELFISH and GREEDY gains.........

With the exception of Nkrumah and someh ...
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God never will forgive all the coup plotters who overthrew OSAGYEFO DR. KWAME NKRUMAH, for this present Ghana.
They did so, for their own personal, SELFISH and GREEDY gains.........

With the exception of Nkrumah and somehow Kutu Acheampong..........God will never forgive those who sold our rich natural resources on the cheap to their 'masters' to enrich themselves, to the detriment of our children and children's future!

One is not supposed to judge but....this is really bad! We had so-called leaders who could have turned a RICH NATION - GHANA around, but no! GREED, SELFISHNESS, CORRUPTION and THE SLAVE MENTALITY HAS GOTTEN THE BETTER OF THEM!

With all the riches we have, these traitors still collaborate with their 'masters' to rape our nation of it's rich natural resources under the guise of IMF and World Bank Structural Programmes.

I'm sorry to say this, Nana! The oil has already gone the same way......how on earth do we negotiate to get 13% or so, out of a 100%. The oil might as well should have been left where it was. We are doing worse than we had no oil to drill.

NKRUMAH NEVER DIES!!!
GOD BLESS GHANA!
AFRICAN FOREVER!
Whatever 11 years ago

I understand Kobina Nketia. After NPP messed around and siphoned money huge oil revenue through EO group, our last hope is NDC and we hope they do the right thing

I understand Kobina Nketia. After NPP messed around and siphoned money huge oil revenue through EO group, our last hope is NDC and we hope they do the right thing
KANAWU KASABA 11 years ago

"our last hope is NDC and we hope they do the right thing"

You have hope in NDC after GEEDA, SUBA, FRAUDULENT JUDGEMENT DEBTS, AND ALL SCHEME, LOOT AND SHARE SCAMS?

EO Group made oil drilling in commercial qyty po ...
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"our last hope is NDC and we hope they do the right thing"

You have hope in NDC after GEEDA, SUBA, FRAUDULENT JUDGEMENT DEBTS, AND ALL SCHEME, LOOT AND SHARE SCAMS?

EO Group made oil drilling in commercial qyty possible and determine they legitimately did get a fraction which is really tiny for their effort. That is a fundamental thing in every business in the world.

If oil was discovered during NDC gov't, Ghana would have received may 1/4 of what it is getting now.
Yaw Poku, USA 11 years ago

You said it right.With their track record of create, loot, and share 1/4 would have been better for Ghana. The taste of pudding is in the eating. See where we are as a nation under this banditry NDC and some of their apologis ...
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You said it right.With their track record of create, loot, and share 1/4 would have been better for Ghana. The taste of pudding is in the eating. See where we are as a nation under this banditry NDC and some of their apologist have the effrontery to accuse the other side.
candy wiafe 11 years ago

some of the comments made here are not healthy for public consumption. where did the omanhene go wrong? so do you mean to tell Ghanaians that government is properly administering the oil revenue. it is very sad that what ev ...
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some of the comments made here are not healthy for public consumption. where did the omanhene go wrong? so do you mean to tell Ghanaians that government is properly administering the oil revenue. it is very sad that what ever mess this government create, you will have people to defend .all the waste, corruption, and excessive borrowing are all future burden on our children .but one thing is definite, that these looters 's family will not be insulated from this "future burden ".
MARK A 11 years ago

TOO LATE..OUR OIL HAS ALREADY BEEN GIVEN AWAY!!

TOO LATE..OUR OIL HAS ALREADY BEEN GIVEN AWAY!!
Fred 11 years ago

A mistake, you couldn't stop it at common wealth hall. Too bad.

A mistake, you couldn't stop it at common wealth hall. Too bad.
oor 11 years ago

Ndc please answer this simple question ghanaians are listening and also god the omini refree is watching

Ndc please answer this simple question ghanaians are listening and also god the omini refree is watching
KWAME=BELGIUM 11 years ago

Why can't you people have somehow patienc with the government about the oil. Rome was not built in a day.

Why can't you people have somehow patienc with the government about the oil. Rome was not built in a day.
Kwame Afful 11 years ago

These chiefs koraa? Do you want money to live big right? Have you invested any resources in oil that's in the sea? Get lost you koraa there. If you have any ideas help your people because thus is one fight you cannot win

These chiefs koraa? Do you want money to live big right? Have you invested any resources in oil that's in the sea? Get lost you koraa there. If you have any ideas help your people because thus is one fight you cannot win
Better Ghana no matter what 11 years ago

Politicians don't fear God but they fear poverty thats why they are not transparent and corrupt.

Politicians don't fear God but they fear poverty thats why they are not transparent and corrupt.
J.B. Rockson Washington D.C. 11 years ago

Oh GH

Oh GH
J.B. Rockson Washington D.C. 11 years ago

Oh NDC

Oh NDC
kwame 11 years ago

God bless Ghana

God bless Ghana
Agonaba 11 years ago

Every oil country not bad especially in the initial stage,only Ghana has nothing to show since oil production.God have mercy.

Every oil country not bad especially in the initial stage,only Ghana has nothing to show since oil production.God have mercy.
kofi 11 years ago

if we have not been able to manage our gold, diamond, bauxite, cocoa,timber and other resources and still wallowing poverty. what is the guarantee that we will manage our oil well?

if we have not been able to manage our gold, diamond, bauxite, cocoa,timber and other resources and still wallowing poverty. what is the guarantee that we will manage our oil well?
kofi 11 years ago

Why some people are so ignorant? Ghanains must face the fact, and stop insulting those who are bold to speak the truth.

Why some people are so ignorant? Ghanains must face the fact, and stop insulting those who are bold to speak the truth.
Honest Tony 11 years ago

You see when l hear this people so called professors then l remember the song from B. Marley, album survival,rebel. Pls everyone should get one and listen, then u know that president Mahama has blocked these thiefs. They get ...
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You see when l hear this people so called professors then l remember the song from B. Marley, album survival,rebel. Pls everyone should get one and listen, then u know that president Mahama has blocked these thiefs. They get their degrees just to rob the country. And somebody has come to put stop on it. Bob says, building churches and universities,graduating thiefs and murderers. Pls people listen to it and stop always reading this bible. This so called learnerd people are killing Ghana. Their way to rob the nation is blocked. Franklin,Hayford,Dr. Baah,Chief Nkatia and etc. Pls president make sure that the judicial should take their responsibility serious. Don't wait too much. You should act now. Africa is not America or Europe. We don't like gentle game. You don't have that time. Don't listening to ur advisors too much. I know you allow the public to know who is milking the nation. You are doing the best to expose all these devil doers and they don't like it. Ghana God is with you to fight this fight. Never give up.
Tuffour Francis 11 years ago

Nana moo ne kasa. But God will forgive him whn he repent, 1john 1vs 8-9 going. But one thing I remember now is. For his complaining he told( Ghanafoo s3 y3 wo short memory for us to keep something) so I not wonder, 2016 peop ...
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Nana moo ne kasa. But God will forgive him whn he repent, 1john 1vs 8-9 going. But one thing I remember now is. For his complaining he told( Ghanafoo s3 y3 wo short memory for us to keep something) so I not wonder, 2016 people will still vote for him. And later they will cry to talk against God. Always God make mistakes for Ghanafoo. This is the the time we need to think. Dr Limam told Ghana to cut cocoa n plant cola. And now Mr Mahama said we must stop nkoko n make only nkpmfaam farms. :D:D eiiiii nti ghana paaaa nie. God help us still Ghana is for ur hand.(francisohenetuffour@gmail.com)
Tuffour Francis 11 years ago

Nana moo ne kasa. But God will forgive him whn he repent, 1john 1vs 8-9 going. But one thing I remember now is. For his complaining he told( Ghanafoo s3 y3 wo short memory for us to keep something) so I not wonder, 2016 peop ...
read full comment

Nana moo ne kasa. But God will forgive him whn he repent, 1john 1vs 8-9 going. But one thing I remember now is. For his complaining he told( Ghanafoo s3 y3 wo short memory for us to keep something) so I not wonder, 2016 people will still vote for him. And later they will cry to talk against God. Always God make mistakes for Ghanafoo. This is the the time we need to think. Dr Limam told Ghana to cut cocoa n plant cola. And now Mr Mahama said we must stop nkoko n make only nkpmfaam farms. :D:D eiiiii nti ghana paaaa nie. God help us still Ghana is for ur hand.(francisohenetuffour@gmail.com)

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“God shouldn’t forgive Govt if it messes up our oil” – Nana Kobina Nketia

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