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Ghana’s oil, gas and mining sector insights – February 2016

  • SOURCE: | qwesa2big
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    A monthly bulletin of Ghana’s oil, gas and mining sector insights – February 2016
    In this edition:
    * Top stories in the month of February
    * Personality of the Month
    * Upcoming events
    * Featured Institution
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    TOP STORIES IN THE MONTH OF FEBRUARY
    In the month of February, Bank of Ghana published a report for second half year ended December 31, 2015 in pursuant to sections 28 of the Petroleum Revenue Management Act 2011, (Act 815). The publication outlines crude oil lifts of Ghana, and the allocation to the Ghana Petroleum funds. Also in this month, Natural Resource Governance Institute and International institute for Democratic and Electoral Assistance (IDEA) launched Political Parties policy book on oil and gas. Other extractive stories filed this month are:

    ▪ Tullow: Capital expenditure cuts won’t affect Jubilee, TEN projects.
    ▪ TOR resumes operation ahead of April 2016 target.
    ▪ Tekper defends TOR debt recovery levy, others on petroleum sector.
    ▪ Gov’t ignored our caution on ENI deal – Minority Leader
    ▪ Irate youth seize AngloGold concession in Obuasi
    ▪ AngloGold to fully shut Obuasi mine.
    ▪ Don’t abolish Heritage Fund – Political Parties

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    Mr ADZEMAN

    Personality Profile
    Mr. Nuertey Adzeman is a founding member of the Ghana Oil and Gas Services Providers Association (GOGSPA) and has been serving as the Executive Director since 2009.
    He has over twenty (20) years of managerial leadership experience of which ten (10) years was spent in the engineering industry in Nigeria.
    Mr. Adzeman began his career at Fung Tai Engineering Company Limited of Nigeria as country representative for Ghana. He also became country representative for JKL Energy Limited of Aberdeen, United Kingdom in the year 2010.
    He currently serves on the local content committee of the Petroleum Commission, representing the indigenous service companies in the Offshore Oil and Gas industry of Ghana and also a participating member of the steering committee of Enterprise Development Centre
    (EDC).

    SAVE THE DATE FOR THE FOLLOWING:

    ▪ 7th Ghana Summit-Oil, Gas & Power

    20th April -21st April 2016, 8:30am @Accra International Conference Centre

    ▪ 4th UMAT Biennial International Mining and Mineral Conference

    3rd-6th August 2016, 8am @UMAT,Tarkwa

    ▪ Re-launch of Information Portal- Reportingoilandgas

    15th March ,2016 , 8am @New Media Hub
    * Online Discussion on Oil and Gas

    Read more

    Featured Institution
    Public Interest and Accountability Committee (PIAC)
    The Public Interest and Accountability Committee (PIAC) is an institution established under Section 51 of the Petroleum Revenue Management Act, 2011(Act 815) to among other things provide extra layer of citizen oversight the management of petroleum revenues. The Committee is composed of thirteen (13) members drawn from civil society, traditional rulers, think tanks, professional groups, trade unions and faith-based groups. The Committee is supported by a secretariat to facilitate the performance of its functions.

    Their vision is to be a credible institution for ensuring the efficient management of petroleum revenues for sustainable development. PIAC is also a statutory Institution committed to ensuring efficient, transparent and accountable management of petroleum revenues and investments to secure the greatest social and economic benefit for the people of Ghana through active engagement with government and citizens. This mission is accomplished by maintaining a balanced stance, exhibiting high integrity and remaining independent of sectional influences.

    As part of it mandate, PIAC is required to prepare and publish two reports –semi and annual report each year detailing how much petroleum revenue has been collected during the period under review and how the amount so collected has been utilized.
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