Ghana Now Begging ExxonMobil to Come

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Ibn Batuta 11 years ago

I am sure there is more to this story than the writer lets on.

I am sure there is more to this story than the writer lets on.
DusTY-FooT-pHiloSophER 11 years ago

It's incomplete because the writer of this so-called piece is simply a nut-job and hilariously offensive to propagate such before the digital world we're now living in. Now, let me break it down from the genesis of Biblical A ...
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It's incomplete because the writer of this so-called piece is simply a nut-job and hilariously offensive to propagate such before the digital world we're now living in. Now, let me break it down from the genesis of Biblical Adam to the chapters of Isaiah for all to read. First, Kosmos wanted to offload some of their stake in the jubilee field offshore Ghana and approached ExxonMobil to help share some of that portfolio. All sounded good in their terms, but on the side of the Ghana government it's not supposed to be so since it was agreed that every company involving the project and wiling to bring in a third party due to cost constrain must do so by floating its portfolio for other company across the spectrum to fairly bid on it.

But that's not what Kosmos wanted. For them it should be ExxonMobil and ExxonMobil only and hence bring the whole deal of theirs into suspicion before the government. Now, the mahogany well, which is the cradle of our Jubilee oil field we know of today was discovered in 6th of June 2007 into the labs of Kufuor's administration whiles Tsatsu was sitting comfortably in prison. So, how come that the same Tsatsu who was never re-instated at the said GNPC came back to lead and convinced Mills administration to oppose the sale to give GNPC the opportunity to present a competing offer? These unscrupulous goons from the so-called think-tanks to Oil Watchdogs did similarly to Kwame Nkrumah and succeeded by plotting Ghana's woes up until date and they're back at it again.

If the mate-meho are not in power, then "all is not well" becomes their clarion trumpeting tune.
insight to the bone 11 years ago

here we go again , now pepeni mahama wants his kickback so is trying to hand over the oil of the fantis to another foreign group . doesn't he know we can develop these resources ourselves

here we go again , now pepeni mahama wants his kickback so is trying to hand over the oil of the fantis to another foreign group . doesn't he know we can develop these resources ourselves
The Mentor 11 years ago

SORRY YOU DON'T HAVE THE KNOWLEDGE OR EQUIPMENT TO HANDLE IT YOURSELF. NOR THE FUNDS TO DO THIS. EVERYTHING GHANIANS TOUCH, BREAKS DOWN. NO EQUIPMENT IS EVER MAINTAINED.

SORRY YOU DON'T HAVE THE KNOWLEDGE OR EQUIPMENT TO HANDLE IT YOURSELF. NOR THE FUNDS TO DO THIS. EVERYTHING GHANIANS TOUCH, BREAKS DOWN. NO EQUIPMENT IS EVER MAINTAINED.
MAHAMA 11 years ago

Mr. Dusty foot soldier, no amount of impressive references to industry practice can erase the fact that the stupid NDC government rejected ExxonMobil and is now begging them to return.

What you described is rather the reve ...
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Mr. Dusty foot soldier, no amount of impressive references to industry practice can erase the fact that the stupid NDC government rejected ExxonMobil and is now begging them to return.

What you described is rather the reverse. Ghana government wanted to cajole Kosmos to sell to GNPC and CNOOC because the Chinese were willing to pay bribes whereas the American Company would not bribe any individual. Their only good-faith measure was to dash the 3.5% to Ghana upon purchasing the Kosmos stake. Get the facts before you argue blindly
DusTY-FooT-pHiloSophER 11 years ago

WILL GHANA CHOOSE CHINA OVER EXXONMOBIL FOR KOSMOS’S JUBILEE STAKE?

The government of Ghana about a week ago indicated in a press release that it will soon decide on the Kosmos Energy-ExxonMobil Jubilee stake issue that ...
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WILL GHANA CHOOSE CHINA OVER EXXONMOBIL FOR KOSMOS’S JUBILEE STAKE?

The government of Ghana about a week ago indicated in a press release that it will soon decide on the Kosmos Energy-ExxonMobil Jubilee stake issue that has become thorny over the period. The government pledged to do ‘whatever it takes within the law to protect the national interest at all times,’ in the matter of the sale of Kosmos Energy’s stake in the Jubilee oil field to ExxonMobil. And now there are speculations within the global oil industry that the government is likely to settle on the China National Offshore Oil Corporation (CNOOC) against Kosmos’ choice ExxonMobil. Indeed, government officials in the past have indicated their preference for the Chinese who have expressed interest in buying the stake.

At the height of the clamour for the stake, the Chairman of CNOOC, Fu Chengyu for the first time publicly declared in August last year that China was placing a bid for the stake. Since Kosmos Energy put up for sale its stake in the country’s largest oil field, the Jubilee oil field which is also the largest oil field to be discovered in West Africa in the last 10 to 15 years, the field which according to Tullow Oil has about 1.5 billion barrels of oil and has 17 wells, the sales issue is yet to be resolved. When news first broke in 2009 that Kosmos was selling its stake, the company denied the reports. The closely held Texas based company kept secret its intentions insisting the stake was not for sale. But it turned out Kosmos had opened its data room to Texas neighbours ExxonMobil much to the consternation of the Ghana National Petroleum Corporation (GNPC), Ghana’s national oil company, which is one of the stakeholders in the field.

Kosmos Energy offered to sell to ExxonMobil against the terms of the agreement binding the consortium holding stakes in the field, and the government of Ghana did not hide its displeasure with Kosmos’s action. According to the terms of the agreement, any one member in the consortium who intends to sell its stake must first make the offer to members. It is only when members have no interest in buying or are unable to buy that outsiders would be invited to bid for the stake on sale and Kosmos has been accused of flouting the agreement by secretly making the offer to ExxonMobil. The government subsequently, halted the deal between the Texan companies. And a section of the American media went on the offensive slamming Ghana and dragging the country’s image into the mud. There were even articles in some US media blaming President Obama for causing the halt.

But the drama must end at some point as the country begins commercial production of oil in November or December barring any other difficulty. The government set up a committee to look into the matter. The committee has presented its report on which government will take a decision soon, and it could decide for China which has not hidden its interest in Ghana. Relations between Ghana and China goes over 50 years and the two countries recently celebrated it. In recent times bilateral trade between Ghana and China has grown, recording in excess of $1.6 billion last year.

Cheers!

Posted: Mon, 16 Aug, 2010
Pantry Man 11 years ago

Presenting one-sided stories like this makes me wonder what's in store for so-called Oil Watchdog. Any serious minded fellow worth his salt will quickly discern the shallow nature of this unfortunate piece. Grow up!!

Presenting one-sided stories like this makes me wonder what's in store for so-called Oil Watchdog. Any serious minded fellow worth his salt will quickly discern the shallow nature of this unfortunate piece. Grow up!!
DusTY-FooT-pHiloSophER 11 years ago

Yes indeed. The so-called writer of this piece is simply a nut-job and hilariously offensive to propagate such before the digital world we're now living in. Now, let me break it down from the genesis of Biblical Adam to the c ...
read full comment

Yes indeed. The so-called writer of this piece is simply a nut-job and hilariously offensive to propagate such before the digital world we're now living in. Now, let me break it down from the genesis of Biblical Adam to the chapters of Isaiah for all to read. First, Kosmos wanted to offload some of their stake in the jubilee field offshore Ghana and approached ExxonMobil to help share some of that portfolio. All sounded good in their terms, but on the side of the government of Ghana it's not supposed to be so since it was agreed that every company involving with the project and wiling to bring in a third party due to cost constrain must do so by floating its portfolio for other companies across the spectrum to fairly bid on it.

But that was not what Kosmos wanted. For them it should be ExxonMobil and ExxonMobil only and hence brought the whole deal of theirs into suspicion before the government. Now, the mahogany well, which is the cradle of our Jubilee oil field we know of today was discovered in 6th of June 2007 into the labs of Kufuor's administration whiles Tsatsu was sitting comfortably in prison. So, how come that the same Tsatsu who was never re-instated at the said GNPC came back to lead and convinced Mills administration to oppose the sale to give GNPC the opportunity to present a competing offer? These unscrupulous goons from the so-called think-tanks to Oil Watchdogs did similarly to Kwame Nkrumah and succeeded in plotting Ghana's woes up until date and they're back at it again.

If the mate-meho are not in power, then "all is not well" becomes their clarion trumpeting tune.
MAHAMA 11 years ago

You must be the only one in Ghana defending this indefensible crooked government. Shame on you

You must be the only one in Ghana defending this indefensible crooked government. Shame on you
DusTY-FooT-pHiloSophER 11 years ago

My friend Exxon Mobil is coming to Ghana not for Kosmos's deal this time around, but the Keta prospects. If they have issues with GNPC, why on earth would they even bother to negotiate with them to enter Ghana again under the ...
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My friend Exxon Mobil is coming to Ghana not for Kosmos's deal this time around, but the Keta prospects. If they have issues with GNPC, why on earth would they even bother to negotiate with them to enter Ghana again under the same government that despises of them so dearly much. Remember, Exxon Mobil is a big boy in the oil and gas industry and of course a magnet and Ghana is not even the number one oil "hotspot" in Africa not alone the world over. So why the rush? Sometimes most of you yahoos from Kukurudian descent make me sick to my stomach for advertising your abject ignorance in here daily for gallery applause.

Adjei 11 years ago

Have you soon forgotten How Exxon-Mobil or formerly Mobil ditch Ghana when we needed them most. What shows that they will not repeat same or sabotage Ghana's Effort to glorify Nigeria and Ivory Coast. I stop short of further ...
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Have you soon forgotten How Exxon-Mobil or formerly Mobil ditch Ghana when we needed them most. What shows that they will not repeat same or sabotage Ghana's Effort to glorify Nigeria and Ivory Coast. I stop short of further comment. Their agents must come back properly with better offers and promise to go for the Long Haul.
THE CHOSEN ONE 11 years ago

FROM THEIR FRUIT, YE SHALL KNOW THEM. THAT'S HOW THEY WERE AND THAT'S HOW THEY SHALL REMAIN.
YE NIM MU EFIRI TITI.
A DONKEY WILL REMAIN A DONKEY.

FROM THEIR FRUIT, YE SHALL KNOW THEM. THAT'S HOW THEY WERE AND THAT'S HOW THEY SHALL REMAIN.
YE NIM MU EFIRI TITI.
A DONKEY WILL REMAIN A DONKEY.
Akyem Mafia 11 years ago

And so that is it: Kuffour and EO Group (3 persons) alone owes 3.5% of our oil and 25 million of us owe only 18.75%? Everyone must note that the EO Group did not contribute a cent towards the development of the oil fields and ...
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And so that is it: Kuffour and EO Group (3 persons) alone owes 3.5% of our oil and 25 million of us owe only 18.75%? Everyone must note that the EO Group did not contribute a cent towards the development of the oil fields and yet Kuffour dashed them 3.5% and sent one of them as Ambassador to Switzerland: to do what? Open an account for the lodgement of their booty?
And now this nonsense of a write up to deceive Ghanaians. Three persons 3.5% and 25 million people 18.75% and shall not suffer economically?
KWAKU MANU 11 years ago

It is this same skin pain in NDC that has destroyed every good thing in the country. You destroy everything because you think an Ashanti owns it, before you realize it was a blessing for our country. This government is a curs ...
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It is this same skin pain in NDC that has destroyed every good thing in the country. You destroy everything because you think an Ashanti owns it, before you realize it was a blessing for our country. This government is a curse and a scourge on our nation. We pray God heals us sooner of them.
OKOE 11 years ago

WHERE ARE THOSE EXPERTS NOW? THEY MUST SHOW GHANA THE MONEY. THERE IS NO SMOKE WITHOUT FIRE. SOMEONE PAID FOR THOSE SO CALLED EXPERTS TO ILL ADVISE THE GOVERNMENT. I WAS ALL THE WHILE WONDERING WHAT HAPPENED THAT MOBIL IS NO ...
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WHERE ARE THOSE EXPERTS NOW? THEY MUST SHOW GHANA THE MONEY. THERE IS NO SMOKE WITHOUT FIRE. SOMEONE PAID FOR THOSE SO CALLED EXPERTS TO ILL ADVISE THE GOVERNMENT. I WAS ALL THE WHILE WONDERING WHAT HAPPENED THAT MOBIL IS NO MORE OPERATING IN THE COUNTRY. NOW I KNOW. MOBIL WILL CALL OFF OUR BLUFF ANY TIME.
Alex. I. 11 years ago

This might not be smoke, rather dust stirred up by political agitations.
In this case, DusTY-FooT-pHiloSophER's conviction seems sincere, Ghana might be better off like it is now.
(You also misread the experts-paragraph.)

This might not be smoke, rather dust stirred up by political agitations.
In this case, DusTY-FooT-pHiloSophER's conviction seems sincere, Ghana might be better off like it is now.
(You also misread the experts-paragraph.)
Sammy 11 years ago

'ExxonMobil offered to purchase the EO Group’s stake of 3.5% and dash it to the Ghana government. By now the total stake owed by Ghana would be 22.25% instead of 18.75%'.

Are you so thoughtless? A state should accept fre ...
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'ExxonMobil offered to purchase the EO Group’s stake of 3.5% and dash it to the Ghana government. By now the total stake owed by Ghana would be 22.25% instead of 18.75%'.

Are you so thoughtless? A state should accept free cash from corporate giants? Wouldn't' you rather oppose this 'bribe' in disguise?
andy hama 11 years ago

permit me to write from Malabo,been in the oil&gas sector for more 25 yrs now,exxon mobil is no angel,it may hold
the biggest assets in portfolio ratings but it's far from being the best in finding new wells,Chevron is bette ...
read full comment

permit me to write from Malabo,been in the oil&gas sector for more 25 yrs now,exxon mobil is no angel,it may hold
the biggest assets in portfolio ratings but it's far from being the best in finding new wells,Chevron is better,ghana's infant oil exploration needs companies with much more oilsearch orientation,wild cats in our jargon,not etablished wells acquisition,with huge turnover margins chasers like ExxonMobil.Rex Tillerson CEO of exxonmobil is a hawk,his mindset is very conservative and capitalist,we know him you don't.As a ghanaian,i will prefer the likes of the majors minus exxonmobil,and BP.
alex. Illi 11 years ago

Thanks

Thanks
NTIKUMA ANANSE 11 years ago

WHILE TSATSU AND AHWOI WERE DESTROYING GHANA'S INTERESTS REFUSING EXXON MOBILE TO BUY KOSMOS, TSATSU AND AHWOI HAVE BECOME MEGA MULTI MILLIONAIRES. WHILE GHANA AND GHANAIANS FIGHT FOR SCRAPS OF BREAD ON THE FLOOR, TSATSU AND ...
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WHILE TSATSU AND AHWOI WERE DESTROYING GHANA'S INTERESTS REFUSING EXXON MOBILE TO BUY KOSMOS, TSATSU AND AHWOI HAVE BECOME MEGA MULTI MILLIONAIRES. WHILE GHANA AND GHANAIANS FIGHT FOR SCRAPS OF BREAD ON THE FLOOR, TSATSU AND AHWOI ARE SWIMMING IN BILLIONS OF DOLLARS. WHILE POOR GHANAIANS SCHOOL CHILDREN DO NOT HAVE CHALK AND SCHOOL BUILDINGS FOR STUDIES, TSATSU AND AHWOI ARE LAUGHING ALL THE WAY TO THE BANK, WITH ACCOUNTS IN SWITZERLAND, CAYMAN ISLANDS, BAHAMAS.

Fred 11 years ago

It seems that the NDC big wigs and the GNPC were bribed by the Chinese to arrange the sale of Kosmos' share to them. So they blocked the sale to Exxon-Mobile, but Kosmos smelled the treachery and refused to sell.
Simple!

It seems that the NDC big wigs and the GNPC were bribed by the Chinese to arrange the sale of Kosmos' share to them. So they blocked the sale to Exxon-Mobile, but Kosmos smelled the treachery and refused to sell.
Simple!
link building 11 years ago

qclJWI Very neat blog article.Really thank you!

qclJWI Very neat blog article.Really thank you!

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Ghana Now Begging ExxonMobil to Come

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