Ghana’s political interference could derail its oil boom

Ghana's political interference could derail its oil boom

Ghana was one of the shining stars of the oil and gas market in the 2010s, dropping its crude production from virtually zero to some 215 kbpd by the end of the decade. The start of the Jubilee field in 2010, barely 3 years after its discovery, was Ghana’s first real claim for a place under the sun. Then came Sankofa’s first unassociated offshore production which greatly helped domestic industries ease their dependence on foreign imports and grounds for further optimism. A series of new events, however, pose a hitherto unresolved question to anyone interested in Ghana’s offshore. As is often the case with projects that exceed general expectations, the Ghanaian government could go to great lengths to ensure that the nascent oil industry serves its interests. For a while, the general political narrative traversed the West African market somewhat silently. At the beginning of May 2020, the Ghanaian Minister of Energy and Petroleum, John Peter …

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