Bad contracts to cost Ghana US$40b of oil revenue – Expert

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• DEAD GOAT MAHAMA KILLED MILLS 10 years ago

  ITS ALL BECAUSE DEAD GOAT IS GHANA'S PRESIDENT!!!!!

  ITS ALL BECAUSE DEAD GOAT IS GHANA'S PRESIDENT!!!!!

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• Gasco 10 years ago

  You are a fool, who sign the oil contract? is it K4 or Mahama?

  You are a fool, who sign the oil contract? is it K4 or Mahama?

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• SARPONG 10 years ago

  My friend, both Npp and Ndc has signed contracts under the same system.
  
  Let's even assume Npp signed a bad contract that gave us only 13.75 percent, does it mean Ndc should also do the same?
  
  If you don't know, Ndc gover ...
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  My friend, both Npp and Ndc has signed contracts under the same system.
  
  Let's even assume Npp signed a bad contract that gave us only 13.75 percent, does it mean Ndc should also do the same?
  
  If you don't know, Ndc government signed with TAP OIL of Australia for a concession of oil exploration at the Volta Basin for only 10 percent, worse than what Npp did.
  
  Even you can excuse the Npp mistake because at that time, Ghana had not discovered oil and those companies, Kosmos, Tullow and others risked losing hundreds of millions if not billion for taking that risk.
  
  Why should an Ndc government sign for 10 percent in 2010 at a time when we have a history of oil on our shores? I will not blame you too much because you seem like you are too wet behind the ears.

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• WhenIdiotsRule 10 years ago

  So far as we have selfish bastards as leaders we will continue to give our resources away and be poor with no water and no light.

  So far as we have selfish bastards as leaders we will continue to give our resources away and be poor with no water and no light.

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• Paapa Owusu-Ansah 10 years ago

  This exactly our stupidity in the whole sub Sahara continent, our leaders use their stomach and their dicks more than their head, what they leant at school does not have anything to do with the developments of the continent n ...
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  This exactly our stupidity in the whole sub Sahara continent, our leaders use their stomach and their dicks more than their head, what they leant at school does not have anything to do with the developments of the continent no, prof. Kwakukumeh or whatever they call him has been drumming this same issues in the ears of our political leaders and our technocrats and they are refusing to listen why ? I guess that is what they called education gone bonkers because nothing to show the knowlage they acquire from their so called education they apply in policy making. In reality both parties are stomach and dick directions.

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• Joe Canada 10 years ago

  Well, with Ghana certified LIARS (lawyers) involve, we will be lucky to get even 20billion $ over that period of time.

  Well, with Ghana certified LIARS (lawyers) involve, we will be lucky to get even 20billion $ over that period of time.

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• KWAA 10 years ago

  How can Kuffour sign a contract which is now in Parlisment?Did you read the article well?Why do we Ghanaians always put Party and tribe before the Nation?If we can put the Nation first before anything,I think the tension whic ...
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  How can Kuffour sign a contract which is now in Parlisment?Did you read the article well?Why do we Ghanaians always put Party and tribe before the Nation?If we can put the Nation first before anything,I think the tension which always proceed our elections will reduce.Because we shall always vote on issues not on tribal basis.

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• Close Observer 10 years ago

  MEMBERS OF OUR LOW GRADE LEGISLATURE (PARLIAMENT) LIKE AMASA NAMOALE (BBC NEWS!!!!!!) DON'T DESERVE THE ACCOLADE ''HONOURABLE'' IF OTHER INTELLIGENT MEN AND WOMEN OF INTEGRITY IN PARLIAMENT WANT TO BE RESPECTED, THEY MUST EDU ...
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  MEMBERS OF OUR LOW GRADE LEGISLATURE (PARLIAMENT) LIKE AMASA NAMOALE (BBC NEWS!!!!!!) DON'T DESERVE THE ACCOLADE ''HONOURABLE'' IF OTHER INTELLIGENT MEN AND WOMEN OF INTEGRITY IN PARLIAMENT WANT TO BE RESPECTED, THEY MUST EDUCATE PEOPLE NOT TO ELECT A CHAFF LIKE AMASA NAMOALE (BBC NEWS!!!!!).
  
  WHEN DID OUR PARLIAMENT TURN TO THIS? When did it turn to a place where foolish people and people who don't seem to know where they are go? What is somebody like Amasa Namoale (BBC NEWS!!!!!)doing there? Do those who vote for this idiot think beyond what they will eat today. I BLAME PNDC AND THE PDC CONCEPT. This encouraged all kinds of fools and nobody's to get involve in government, and this is where we are today. VERY DISAPPOINTING. HE IS SAYING WAYOME SHOULD SUE FOR MORE MONEY. IS HE WEALTHY OF BEING IN PARLIAMENT AND BE REFERRED TO AS ''HONOURABLE'' If those there with this person want the name ''honourable'' to carry any weight, then they should discourage people from voting for his sort.
  (miny3mi m3i niyoo la, ny3 kwaa m3i ni ny3 foor oshiki ny3 haa. Bul3 ko kwraa b3 Amasa Namoale he, ni ehaa bul3 aba ny3he tete hu.)

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• SUNKWA 10 years ago

  NPP DOES NOT SEE OR KNOW ABOUT THE RAPE OF THE COUNTRY VIA THE E.O. GROUP INCLUSION IN THE MASTER PETROLEUM AGREEMENT WITH COSMOS & TULLOW THAT KILLED ANY CHANCE OF GHANA MAKING ANY MEANINGFUL GAINS FROM ITS OIL RESOURCE. AND ...
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  NPP DOES NOT SEE OR KNOW ABOUT THE RAPE OF THE COUNTRY VIA THE E.O. GROUP INCLUSION IN THE MASTER PETROLEUM AGREEMENT WITH COSMOS & TULLOW THAT KILLED ANY CHANCE OF GHANA MAKING ANY MEANINGFUL GAINS FROM ITS OIL RESOURCE. AND THE HYPOCRITES DISTURB US WITH VAIN CLAIMS...GOD PUNISH THEM AND THEIR DESCENDANTS WITH HERNIA-SIZED AFFLICTIONS!!

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• SARPONG 10 years ago

  Business News of Wednesday, 16 June 2010
  
  Source: GNA
  
  GNPC, Tap Oil and others sign agreement
  
  Accra, June 16, GNA - Deputy Minister of Energy, Armah Kofi Buah, on Wednesday said government would ensure that companie ...
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  Business News of Wednesday, 16 June 2010
  
  Source: GNA
  
  GNPC, Tap Oil and others sign agreement
  
  Accra, June 16, GNA - Deputy Minister of Energy, Armah Kofi Buah, on Wednesday said government would ensure that companies operating in the oil and gas sector adhered fully to environmental laws governing the sector. Speaking at the signing of a petroleum agreement for oil exploration in offshore Accra-Keta basin in Accra, Mr Buah said the oil spillage off the Gulf of Mexico should provide a wake-up call to improve enforcement of the environmental laws.
  
  The offshore Accra contract is between Ghana National Petroleum Corporation (GNPC), Australian firm Tap Oil Limited, Challenger, Minerals Incorporated and Afex Oil Ghana, an affiliate of Afex International based in the US.
  
  Tap Oil Limited would control 36 per cent stake in the joint venture while, the GNPC would control 10 per cent, both US firms involved in the deal would control 27 per cent each. Mr Buah called on development partners to support the country's effo rts to derive maximum benefits from the oil resources and urged them to adher e to the country's laws.

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• Ndoo 10 years ago

  Is Armah Kofi Buah a deputy minister of Energy?
  Pls check and come again.

  Is Armah Kofi Buah a deputy minister of Energy?
  Pls check and come again.

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• Zoobie-Zoobie 10 years ago

  MAhamah is too tribal, too visionless and too incomnpetent to run Ghana

  MAhamah is too tribal, too visionless and too incomnpetent to run Ghana

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• Dr Robert K Glah 10 years ago

  PSA is the sustainable outcome for Ghana

  PSA is the sustainable outcome for Ghana

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• freedom&corruption 10 years ago

  and we borrow $30M for an aircraft, Ghana is cursed, in the abundance of rain we have famine!!! if this is not a curse what is?

  and we borrow $30M for an aircraft, Ghana is cursed, in the abundance of rain we have famine!!! if this is not a curse what is?

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• Osei Yao 10 years ago

  THIS IS WHAT YOU GET IF THE PRESIDENT ALONE DETERMINES, AND SIGNS THE AGREEMENT, TYPICALLY FAVOURED BY KUFFUOR AND HIS CRONIES.. NANA ADDO WAS THE AG WHO ADVISED THE GOVT

  THIS IS WHAT YOU GET IF THE PRESIDENT ALONE DETERMINES, AND SIGNS THE AGREEMENT, TYPICALLY FAVOURED BY KUFFUOR AND HIS CRONIES.. NANA ADDO WAS THE AG WHO ADVISED THE GOVT

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• SARPONG 10 years ago

  Another wet behind the ears guy. Read my response above titled "THREADING DANGEROUSLY" if Ndc under Mills did not sign a worse oil contract with TAP OIL of Australia andtwo America companies for only 10 percent for Ghana.

  Another wet behind the ears guy. Read my response above titled "THREADING DANGEROUSLY" if Ndc under Mills did not sign a worse oil contract with TAP OIL of Australia andtwo America companies for only 10 percent for Ghana.

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• nii nii niiiii 10 years ago

  Look guys, I keep telling you all that Ghana is doomed and can never be good for at least 100 yrs as we have bigots running the country.Glad I left

  Look guys, I keep telling you all that Ghana is doomed and can never be good for at least 100 yrs as we have bigots running the country.Glad I left

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• Moses Amoako Osei 10 years ago

  I think our leaders should for once, put self interest aside and think about the total wellbeing of all the citizens. I sometimes, wonder how our leaders failed totally even though 80%-90% of them schooled outside the shores ...
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  I think our leaders should for once, put self interest aside and think about the total wellbeing of all the citizens. I sometimes, wonder how our leaders failed totally even though 80%-90% of them schooled outside the shores of Ghana. The youth should hold the leaders responsible of all their deeds. Leaders should put into practice the good things they've learnt outside ghana to the best use and stop the beruocratic attitudes. Citizenry must put a stop to the behavior of politicizing every issue and think about the development of Ghana. Thanks

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• Efo Kwaku Canada 10 years ago

  The so called expert what was Ghana stands during the contract? Was the country have enough to compete against drilling companies interest? They decide what will favour them because Ghana doesn't have experts to drill their ...
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  The so called expert what was Ghana stands during the contract? Was the country have enough to compete against drilling companies interest? They decide what will favour them because Ghana doesn't have experts to drill their own oil so what are you talking about, You're expect fine if they gave you the chance no foreigners can you drill that off shore oil, what advice did you give to the government during the discovery of the oil?talk is cheap on like Mahama always does

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• HARDER@-'89 10 years ago

  Why cant we simply go the korean, the singaporean or the chinese way by first developing a strong science and technoloy base through agressive r&d policy and so grow a robust industrialised culture to help us move away from ...
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  Why cant we simply go the korean, the singaporean or the chinese way by first developing a strong science and technoloy base through agressive r&d policy and so grow a robust industrialised culture to help us move away from this senseless dependence on raw material export which is invariably the cause of all these painful cycle of dependence and underdevelopment...
  
  our political leadership are the bane of all our underdevelopment for their selfish desire to grab, grab and stealthifully covert everything in their sight that is public or even more...

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• Odiyifo Kwajo 10 years ago

  Yes, they live right among us looking and acting just like you and me; living in plush apartments, luxury hotels and homes; driving high class vehicles and chasing beautiful young chicks. They establish fake companies and em ...
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  Yes, they live right among us looking and acting just like you and me; living in plush apartments, luxury hotels and homes; driving high class vehicles and chasing beautiful young chicks. They establish fake companies and employ few ignorant secretaries and office managers to man their nefarious ventures. If you dare ask them what exactly they do, they would tell you they are EXPERTS, CONSULTANTS, ADVISORS, CONTRACTORS and BUSINESSMEN. Yes, they are BUSINESSMEN with no discernible tangible product to market but yes, they provide clandestine services to their CLIENTS who equip them with suit cases stuffed with high denomination bills - dollars, pounds, francs euros and the likes to bribe our DECISION MAKERS like PRESIDENTS, VICE PRESIDENTS, MINISTERS, PARLIAMENTARIANS,EXECUTIVES, KINGS AND QUEENS, PARTY LEADERS, RELIGIOUS LEADERS, TOP SECURITY BRASS - OFFICERS, GENERALS, POLICE COMMISIONERS and BOARDER PATROL OFFICERS. Just ask Woyome, as an NDC financier, how he was able to secure a contract worth millions of dollars from the NPP Kuffour's government. Search Woyome and the likes of him's background and you will know who are actually being used to control Ghana and the rest of Africa from the background. They are paid six to seven figure incomes to enable them to live their 'enviable' lifestyle. To their MASTERS, this pay is a drop in the bucket compared to the BILLIONS they burgle out of Africa with the complicity of our own kind who are unfortunately hailed as heroes and role models among our ignorant victimized folks. They used to be called SPIES subject to sabotaging treasonable offence which, in most countries, carries death penalty but not in Africa right now. Yes, these SPIES and their colluding DECISION MAKING so-called 'leaders' are reselling Africa in the new 21ST century GLOBAL SLAVE TRADE. OIL AND GAS CONTRACT in the interest of Ghanaians? Forget it. We were warned by KWAME NKRUMAH in his book 'NEOCOLONIALISM, THE LAST STAGE OF IMPERIALISM'.

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• CBT 10 years ago

  You have said it all but who will listen,we have been brain washed for a very long time and cant even distinguish between black and white.I just wonder sometimes if our leaders are satan incarnate or demonic possess that they ...
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  You have said it all but who will listen,we have been brain washed for a very long time and cant even distinguish between black and white.I just wonder sometimes if our leaders are satan incarnate or demonic possess that they think about themselves to the detriment of a whole nation and yet they are the people we aplaud most.Oh what a wicked world.

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• African Patriot 10 years ago

  Now we see why these shameless and discraceful so call political leaders try to distroy the legacy of Kwame Nkrumah. These leaders steal from the state while children in Africa go hungry and homeless. Slavery has created an u ...
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  Now we see why these shameless and discraceful so call political leaders try to distroy the legacy of Kwame Nkrumah. These leaders steal from the state while children in Africa go hungry and homeless. Slavery has created an uncontrolable monster in Africa that has no shame and no mercy. These same leaders hide behind the so call religions created by the West as their dominant ideology but greed and neo-colonialism,greed and class domination is the true dominant philosophy that governs these neo colonial states. This cancer must be rooted out before these leaders put us all back into slavery.

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• Abankaba 10 years ago

  Did this not start under the NPP administration?

  Did this not start under the NPP administration?

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• eugene 10 years ago

  everybody want to mention oil and Gas but gold & cocoa companys have taken advantage of Ghana for 100 years...let those contracts be re -written to better help Ghana citzens

  everybody want to mention oil and Gas but gold & cocoa companys have taken advantage of Ghana for 100 years...let those contracts be re -written to better help Ghana citzens

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• ugly akufo addo 10 years ago

  he has aids

  he has aids

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• Nana 10 years ago

  Is ordain thief

  Is ordain thief

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• Didier 10 years ago

  This is what happens when we have a bunch of silly and illiterate educated buffoons making decisions in Ghana. With all the so called degrees and all, we are still illiterates with regards to how we negotiate some of these c ...
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  This is what happens when we have a bunch of silly and illiterate educated buffoons making decisions in Ghana. With all the so called degrees and all, we are still illiterates with regards to how we negotiate some of these commercial deals. The sad part is tha they will never listen and quickly jump on each other and make it a political issue ...NPP vs. NPP. We simply lack the capacity to manage. We talk all do and do nothing actionable. We tolerate foolishness and corrupt politicians who burrow money to get into power, steal, become rich overnight without any one questioning how they got their money. How could someone like Mr. Timbillah deposit 1MM cedis into his accounts without no one questioning the source? How much does the president make in a month let alone a Police Director of HR? I cannot wait for the firing squad to come back. We need some serious cleansing of these corrupt politicians. Steal a got a get 20 years in jail... Steal Millions and walk away scot free. What a mockery of democracy....governance.

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• dyfk thackley 10 years ago

  This is a very brilliant exposition and so i pray that they forward this proposal to government & Parliament and further ask to arranged for a working presentation for our mp's to better drum home this position to decision ma ...
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  This is a very brilliant exposition and so i pray that they forward this proposal to government & Parliament and further ask to arranged for a working presentation for our mp's to better drum home this position to decision makers in government..

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