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“This is a country where the demand profile around resources is growing significantly. The demographics are very exciting, so we are extremely bullish on Ghana.” Wissam Al Monthiry, Managing Director, Tullow Oil Ghana The Energy Year Ghana 2022 highlights Ghana’s strategy to monetise its hydrocarbons resources and capitalise on its socioeconomic stability to become a regional petrochemicals hub and to spread the use of natural gas and LNG – altogether reinforcing the country’s potential as an emerging energy hub in West Africa. “Using natural gas as the fuel for industrial expansion is going to be the pillar of growth for socioeconomic development in the whole African continent.” Ben Asante, CEO, Ghana National Gas Company The Energy Year Ghana 2022 portrays a detailed picture of Ghana’s energy scene under President Nana Akufo-Addo’s renewed administration, focusing on the varied efforts the country is undertaking to enhance its oil and gas production, upgrade its refining capacity and push for an energy transition. This edition’s Year’s Focus chapter on oil and gas infrastructure includes an infographic detailing the petroleum hub development plans and an editorial focus on the projects, companies and service providers that are setting the groundwork for Ghana’s energy self-sufficiency. Produced in partnership with the Ministry of Energy, National Petroleum Authority and the Petroleum Commission, this fifth edition of The Energy Year’s Ghana series delivers insight to potential investors on the government’s efforts to push the energy industry forward, providing a clear picture of Ghana’s opportunities at a time when gas is the new oil and the country is driven by its pursuit of the energy transition.
A number of countries have recently discovered and are developing oil and gas reserves. Policy makers in such countries are anxious to obtain the greatest benefits for their economies from the extraction of these exhaustible resources by designing appropriate policies to achieve desired goals. One important theme of such policies is the so-called local content created by the sector—the extent to which the output of the extractive industry sector generates further benefits to the economy beyond the direct contribution of its value-added, through its links to other sectors. While local content policies have the potential to stimulate broad-based economic development, their application in petroleum-rich countries has achieved mixed results. This paper describes the policies and practices meant to foster the development of economic linkages from the petroleum sector, as adopted by a number of petroleum-producing countries both in and outside the Organisation for Economic Co-operation and Development. Examples of policy objectives, implementation tools, and reporting metrics are provided to derive lessons of wider applicability. The paper presents various conclusions for policy makers about the design of local content policies.
This book explores the myriad issues that play out in the upstream petroleum industry of Ghana from a legal perspective. Focusing on Ghana as an emerging petroleum country, Thomas Kojo Stephens begins by examining whether the existing constitutional framework will be effective in governing the expanding oil and gas sector. Drawing on various approaches proffered by other experts in the field, Stephens looks at possible institutional structures that could be put in place and juxtaposes these ideas with the experience of Ghana to test the efficacy of these proposals. He also explores the types of contractual frameworks currently implemented in Ghana for comparison with other emerging petroleum economies, examining the barriers to effectiveness, novel provisions that must be incorporated, and lessons learned from other regions. Finally, the book highlights how vital it is for the Ghanaian State to monitor the use of petroleum revenue and make ethical investment decisions that prioritize the interests of Ghanaian citizens. Upstream Oil and Gas in Ghana will be of great interest to students and scholars of energy law and policy, oil and gas management, and African Studies more broadly, as well as those working in the upstream petroleum industry.
“Given the number and calibre of the companies that expressed interest in our maiden oil and gas licensing round, it suffices to say that Ghana’s oil and gas industry is attractive and promising.” Hon. John Peter Amewu, Minister of Energy The Oil & Gas Year Ghana 2020 delves into the country’s developments a decade after first oil. This year’s edition covers a range of topics, including the country’s first-ever licensing round, measures aimed at boosting investor confidence, the government’s plans to turn Ghana into a regional logistics and petroleum hub, the increasing role gas is playing in the country’s energy mix and the achievements of the local content law since its enactment in 2013. “The exciting aspect about this achievement [the Afina-1x well discovery] is that it’s not just for Springfield, but is for the entire continent – to say that Africans can do things and we do them very well once we put our minds to it. We think that this will unleash the potential of Africa.” Kevin Okyere, Founder and CEO of Springfield Group, TOGY Ghana 2020 Indigenous Company of the Year Ghana is putting the pieces in place to increase its energy profile on the African continent, such as expanding E&P activities to reach 500,000 bopd by 2024, initiating policies to increase transparency in the awarding of blocks and ultimately creating a regional hub for the hydrocarbons industry. Produced in partnership with the Ministry of Energy, this fourth edition of The Oil & Gas Year Ghana provides insight to investors and companies looking at strategic opportunities in the country at a time when Ghana’s oil and gas industry is aiming to double production.

Ghana

International Monetary Fund. African Dept.

Published: 2024-07-11

Total Pages: 330


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This Medium-Term National Development Policy Framework (MTNDPF) 2022-2025 seeks to operationalize Article 36, Clause 1 of Ghana’s 1992 constitution, which enjoins Government to ensure that the national economy is managed efficiently to maximize the welfare of the citizenry. It was prepared with broad-based stakeholder participation including the use of cross-sectoral planning groups (CSPGs) as enjoined by article 15 of the National Development Planning Commission Act, 1994 (Act 479). Public consultations were also undertaken across the country, including engagement with parliament and the presidency. It was finally approved by the Commission following approval from the presidency and presented to Parliament.
The oil and gas industry is a complex sector with significant reach in terms of providing the energy needs of the global economy and the security, environmental and development consequences thereof. In particular, the sector is extremely important for the economic growth of emerging markets and developing countries. Furthermore, the life span of oil and gas resources is finite, with high health and safety risks and substantial environmental costs that require careful management and sustainability practices to ensure optimal extraction and utilisation of these resources. This book examines the challenges and opportunities in the oil and gas industry, in the context of emerging markets and developing economies. It provides comprehensive coverage of the management and sustainability practices of the sector, the environmental impact and sustainability of resources as well as the businesses that operate in the sector across the entire value chain. It addresses the current discourse on topics such as the Sustainable Development Goals, the Green Economy, the Paris Agreement and Glasgow Climate Pact and concludes with a chapter on the future of the oil and gas industry. The discussions around energy and energy transitions in particular continue to gain momentum and the book provides a wide-reaching and up-to-date overview of the industry. The book introduces readers to the concepts and formal models of analysis in the oil and gas sector and will serve as a useful resource for students, scholars and researchers in operations, marketing, procurement and supply chain management, project management, health and safety management, environmental economics, natural resource economics, development finance, and development studies. Researchers and practitioners working in these areas will also find the book a useful reference material.
Approximately two billion dollars a day of petroleum are traded worldwide, which makes petroleum the largest single item in the balance of payments and exchanges between nations. Petroleum represents the larger share in total energy use for most net exporters and net importers. While petroleum taxes are a major source of income for more than 90 countries in the world, poor countries net importers are more vulnerable to price increases than most industrialized economies. This paper has five chapters. Chapter one describes the key features of upstream, midstream, and downstream petroleum operations and how these may impact value creation and policy options. Chapter two draws on ample literature and discusses how changes in the geopolitical and global economic environment and in the host governments' political and economic priorities have affected the rationale for and behavior of National Oil Companies' (NOCs). Rather than providing an in-depth analysis of the philosophical reasons for creating aNOC, this chapter seeks to highlight the special nature of NOCs and how it may affect their existence, objectives, regulation, and behavior. Chapter three proposes a value creation index to measure the contribution of NOCs to social value creation. A conceptual model is also proposed to identify the factors that affect value creation. Chapter four presents the result of an exploratory statistical analysis aimed to determine the relative importance of the drivers of value creation. In addition, the experience of a selected sample of NOCs is analyzed in detail, and lessons of general applicability are derived. Finally, Chapter five summarizes the conclusions.
This book explores how African countries can convert their natural resources, particularly oil and gas, into sustainable development assets. Using Ghana, one of the continent’s newest oil-producing countries, as a lens, it examines the "resource curse" faced by other producers - such as Nigeria, Angola, and Equatorial Guinea - and demonstrates how mismanagement in those countries can provide valuable lessons for new oil producers in Africa and elsewhere. Relying on a broad range of fieldwork and policymaking experience, Panford suggests practical measures for resource-rich developing countries to transform natural resources into valuable assets that can help create jobs, boost human resources, and improve living and working conditions in Ghana in particular. He suggests fiscal, legal, and environmental antidotes to resource mismanagement, which he identifies as the major obstacle to socioeconomic development in countries that have historically relied on natural resources.
This book provides a thoroughly researched guide to the Nigerian Oil and Gas Industry, providing students, potential investors, academics and policy makers the opportunity to get acquainted with various dimensions of the oil and gas industry.
Examines critical links between local content requirements and the application of sustainable development treaties in global energy markets.