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Stephen Yeboah's Blog (27)

Did Kosmos Energy pay fines to Ghana on moral or technical grounds?

US oil producer, Kosmos Energy’s spilled 706 barrels of low toxicity substance at its drilling fields in West Cape Three Points in 2010. A five-member ministerial committee was set up to look into the issue.

The committee after its findings recommended that the Texas-based oil and gas exploration company pays a fine of $35 million to the government of Ghana. In sharp response, Kosmos referred to the fine as baseless and unlawful.

The oil industry is known to be fraught with…

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Added by Stephen Yeboah on June 9, 2011 at 11:11 — 1 Comment

Niger Delta community ready to sue Agip Oil Company

The people of Etiema are ready to take a court action against Agip, a major oil company operating in the oil-rich Niger Delta for what they describe as an unfair treatment. The people bemoaned since oil production started in 1971, there have been no significant improvement in their livelihoods.

In an interview with the Chief of Etiema, Howels Idibo Ebifate, he said “we are dying, the oil companies left us like that”. “Many of our children died as a result of negative oil operations”,…

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Added by Stephen Yeboah on May 30, 2011 at 15:03 — 3 Comments

Screen your leaders! – Niger Delta Chiefs urge oil communities in Ghana

Chiefs and community leaders in the Niger Delta have charged oil communities in Ghana to carefully screen their leaders before giving them the mandate to negotiate on their behalf with oil companies and governments. The chiefs and community leaders in Oruma and Rumuekpe revealed that oil companies in the Niger Delta use divide-and-rule tactics where money is used to influence leaders to the total neglect of the welfare of entire communities.

The chiefs of Oruma, Joseph Efanga and…

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Added by Stephen Yeboah on May 27, 2011 at 21:24 — No Comments

EITI report reveals the plunder of mining revenues in Ghana

A glaring plunder of mining revenues has been revealed in the Extractive Industries Transparency Initiative (EITI) aggregate report of Ghana. The aggregated audit report meant to collect, analyze and reconcile payments made by mining companies to the government and to reconcile mining companies’ submissions of mining benefits payments to those received by the government was made known in Ghana EITI – Dissemination Workshop held in Kumasi on January 31, 2011.

The workshop that brought…

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Added by Stephen Yeboah on February 13, 2011 at 16:02 — No Comments

In search of sustainability and improved livelihoods in mining areas

Close to being a seemingly hopeless economic venture, mining- with its immense wealth- continues to sap the vitality of resilient people and capacity of the economy. The recent ‘alleged’ cyanide spillage by Newmont in Subri River is not surprising at all when the highly-rated mining company happens to be the 2009 award winners of the most irresponsible company in the world.

The mining sector has always defied logic analysis. It still remains a fact that mining in Ghana has rarely had…

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Added by Stephen Yeboah on January 20, 2011 at 13:00 — No Comments

Is Ghana rehearsing the resource curse?

Much ado about nothing is the right description for developments bordering on Ghana’s oil. With estimated 1.3 billion barrels of crude oil making 120 barrels per day compared to Nigeria’s 36 billion barrels of crude oil (2.5 million barrels a day), it goes without saying that Ghana is making an absolute fuss out of nothing. Ghana’s oil happens to be the first of its kind that has been fast-tracked and meaninglessly hyped. Day after day, the ordinary Ghanaian is made to understand that the oil… Continue

Added by Stephen Yeboah on December 2, 2010 at 22:18 — 2 Comments

What lack of transparency can do to oil-producing states: Beware Ghana!

What lack of transparency can do to oil-producing states: Beware Ghana!



"Transparency works both ways and it is for the company as well as the countries -- their people need to know and the more they know what is being done for their benefit, the more they will be supportive." - Ngozi Okonjo-Iweala, World Bank's Managing Director



Ensuring transparency in the extractive sector has never been a real priority of the state authorities of Ghana and commercial entities. As a… Continue

Added by Stephen Yeboah on November 25, 2010 at 18:59 — No Comments

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