Ghana loses $30 billion over bad oil deal

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• Driller 11 years ago

  what kind of arrangements/contract does Norway have with the petroleum extracting companies? Ghana needs a leaders with spine.
  I admire the Chinese who descended heavily on the minister responsible for expanding the railway ...
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  what kind of arrangements/contract does Norway have with the petroleum extracting companies? Ghana needs a leaders with spine.
  I admire the Chinese who descended heavily on the minister responsible for expanding the railway system and was credited for his hard work in building the super fast trains. When he was found to have short changed the country he was dealt with severely. Last week the # 9 most powerful man in China found himself in hot waters. Will this ever happen in Ghana? Mahama must prove this to us.

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• Ed Okine 11 years ago

  The GIGS have done such a good job that there is not very much to add to it, except to say that PSA does not make oil exploration profitable from the perspective of the oil ex0ploration companies. Kenya is yet produce oil, ye ...
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  The GIGS have done such a good job that there is not very much to add to it, except to say that PSA does not make oil exploration profitable from the perspective of the oil ex0ploration companies. Kenya is yet produce oil, yet it implements the PSA and also is moving towards awarding its exploration block by an auction process. Why is Ghana, after derisking its oil potential, still awarding oil blocks by the negotiated process.

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• Nana 11 years ago

  Unfortunately, there will be very few comments on this crucial matter. If it were tribe or religion you will see many comments. Oh Ghana, misplaced priorities.

  Unfortunately, there will be very few comments on this crucial matter. If it were tribe or religion you will see many comments. Oh Ghana, misplaced priorities.

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• John 11 years ago

  Thank you Mr David Agbee. Please let this information be well known, and don't relent in your efforts to get the bill withdrawn. Our parliamentarians like ministers such as Rashid Pelpuo, Hannah Tetteh and others care more ab ...
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  Thank you Mr David Agbee. Please let this information be well known, and don't relent in your efforts to get the bill withdrawn. Our parliamentarians like ministers such as Rashid Pelpuo, Hannah Tetteh and others care more about their foreign masters than about Ghana.

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• Faceless soul. 11 years ago

  Thank you my brother for this intelligent remark of yours. Our people only do not understand that here is the best place where they are required to make fruitful contributions to save Ghana's economy from falling. All what th ...
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  Thank you my brother for this intelligent remark of yours. Our people only do not understand that here is the best place where they are required to make fruitful contributions to save Ghana's economy from falling. All what they know is to only talk about politic or tribe. We are talking about billions of dollars here. Guys wake up, it is time to show what we got in head to fight for Ghana economy prosperity. not for senseless politic and tribalism. Am really ashamed of you.

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• C.Y. ANDY-K 11 years ago

  Of course, PSA is far, far superior and safeguards our interests better.
  
  Unfortunately, the powers-that-be in Ghana cannot see beyond their noses. Their minds are terribly clouded with C19th colonial thinking and mentalit ...
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  Of course, PSA is far, far superior and safeguards our interests better.
  
  Unfortunately, the powers-that-be in Ghana cannot see beyond their noses. Their minds are terribly clouded with C19th colonial thinking and mentality. To them, we must even be grateful that Tullow and Kosmos are drilling the oil, which was just there useless under the sea until they found it; and giving us something small too is just too good. That's the general thinking and mentality of the so-called Ghanaian elite across board. Very sickening! Even the leaders of the NGO ACEP, which has been making so much noise about the oil share in such a mentality.
  
  The bad news in town is how the oil companies had already spread their tentacles and bought off much of the civil society. Scores of journalists had received "scholarships" to study oil and gas, etc. abroad and are now their surrogates, mouthing uninformed platitudes on their behalf anytime the issue of the unfair rip off is raised.
  
  Andy-K

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• Tatal 11 years ago

  Have we already lost or losing or will lose such revenue due to bad deal. Check your Headlines and the stories/information you give us, please, Confusionist.

  Have we already lost or losing or will lose such revenue due to bad deal. Check your Headlines and the stories/information you give us, please, Confusionist.

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• Ed Okine 11 years ago

  The body of a production sharing contract layouts the production share between the contractor(s) and the state or its state-owned oil company. Typically, most of the early production will be set aside for recovering the costs ...
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  The body of a production sharing contract layouts the production share between the contractor(s) and the state or its state-owned oil company. Typically, most of the early production will be set aside for recovering the costs incurred during development by the contractor (cost oil), while the state receive an increasing share of production after costs are recovered (profit oil).

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• Ghanaman Original 11 years ago

  Good Job. Well done. We have to protect our interests. All government contracts must be read by unbiased third parties who have no affiliations with any of the parties involved in signing the contract. If people are getting k ...
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  Good Job. Well done. We have to protect our interests. All government contracts must be read by unbiased third parties who have no affiliations with any of the parties involved in signing the contract. If people are getting kickbacks for signing treacherous contracts, they should be held accountable.

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• Sirbrod Osu-RE 11 years ago

  This is a very insightful piece and the comments by Mr David Agbee should be taken extremely seriously.
  In as much as one would expect to have some returns from 'risk taking' especially in such a volatile industry we do not ...
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  This is a very insightful piece and the comments by Mr David Agbee should be taken extremely seriously.
  In as much as one would expect to have some returns from 'risk taking' especially in such a volatile industry we do not have to 'remain' soft touch for easy pickings. Our children's heritage and future generations shouldn't be sacrifice for by incompetent jackass-smiling 'technocrats' only interested in their party or clansmen's short term welfare. Just been watching the film, 'BIG MEN' and we should therefore be getting 'better and smarter'. We do not need to reinvent the wheel, the Norway model is another one worth exploring considering the government paid for their minister to address our parliament on the very same issue.
  God Bless Ghana.

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• BOY KOFI 11 years ago

  Foreigners come into our country to do business mainly for profits.They don't care if you are crying or dying,their profit is what matter most to them.If we don't understand this common principle then I don't see why we shoul ...
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  Foreigners come into our country to do business mainly for profits.They don't care if you are crying or dying,their profit is what matter most to them.If we don't understand this common principle then I don't see why we should have politicians and intellectuals in the country.Thank you.

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• Joshua 11 years ago

  That's amazing, i love this facts

  That's amazing, i love this facts

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• Kodjo 11 years ago

  Misleading headline

  Misleading headline

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• EZEKIEL 11 years ago

  Please,EXPLAIN this section/Clause to our MOSTLY DUMB MPs and let us for ONCE consider and UNDERSTAND THE "SMALL PRINT" before pending our Signature!!!
  Let the LAWYERS and those who say they UNDERSTAND the Queen's English... ...
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  Please,EXPLAIN this section/Clause to our MOSTLY DUMB MPs and let us for ONCE consider and UNDERSTAND THE "SMALL PRINT" before pending our Signature!!!
  Let the LAWYERS and those who say they UNDERSTAND the Queen's English...look into it PROPERLY!!!! WE have been ripped off TOO OFTEN!!!

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• Kamal Mohammed 11 years ago

  Let us has a people of Ghana to be precisely our so called our trusted leaders do the right thing at the first time.Afghan sign their oil deal the same day Ghana sign the oil deal i stand to be corrected,but afghan where able ...
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  Let us has a people of Ghana to be precisely our so called our trusted leaders do the right thing at the first time.Afghan sign their oil deal the same day Ghana sign the oil deal i stand to be corrected,but afghan where able to put their country first why? Ghana.We the youth are watching them they should be very careful has how to manage the resources of this our dear nation.

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• JAMES Y 11 years ago

  Things will be worst even if, as anticipated, NPP get to power come 2016. They will accept HMC in totality and more sell-out conditions in the future from explorers to help maintain power with the help of World Bank, IMF, Rev ...
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  Things will be worst even if, as anticipated, NPP get to power come 2016. They will accept HMC in totality and more sell-out conditions in the future from explorers to help maintain power with the help of World Bank, IMF, Revenue Watch Institute, Oxfam, dodgy Fitch rating of the country and, of course, their own IMANI.

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• JONA 11 years ago

  NO RUSH TO THE BRUSH COMPARE OTHER NATIONS SUCCESS ESPECIALLY NORWAY, CANADA, SOME MIDDLE EAST COUNTRIES

  NO RUSH TO THE BRUSH COMPARE OTHER NATIONS SUCCESS ESPECIALLY NORWAY, CANADA, SOME MIDDLE EAST COUNTRIES

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