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Ghana National Petroleum Corporation
Industry Oil and gas industry
Headquarters Tema, Greater Accra, Ghana
Key people Alex Mould (CEO)[1]
Owners President John Dramani Mahama
Website www.gnpcghana.com

The Ghana National Petroleum Company (GNPC) is the state agency responsible for the exploration, licensing, and distribution of petroleum-related activities in Ghana.[2]

History[edit]

The corporation was established to replace the Petroleum Department which was an agency under the Ministry of Fuel and Power. The department was responsible for the importation of crude oil and petroleum products for the Ghanaian economy.[2] The mandate for oil exploration was held to be the Technical Directorate of the Ministry of Fuel and Power and the Geological Survey Department. The corporation was created to promote the Government of Ghana's objective of supplying adequate and reliable petroleum for the country and the discovery of crude oil in the country's territories.

Mandate[edit]

The corporation was established as a state-owned company with the statutory backing of PNDC Laws 64 and 84. The laws mandated the corporation to engage in exploration, production and disposal of petroleum products. The laws also established the legal structure that informed the corporation in contractual agreements between the Government of Ghana and private oil exploration companies. In 1987, the Petroleum Income Tax Law were added to the corporation's mandate to permit it to tax various petroleum products for consumption. The law was the PNDC Law 188.

Functions[edit]

The corporation has amongst it functions to promote petroleum exploration activities, to appraise existing petroleum discoveries, to ensure that Ghana benefit the most from the development of the country's petroleum resources. The corporation promotes the training of Ghanaians in petroleum related activities and ensure environmental protection in all petroleum related activities.

Jubilee fields[edit]

The corporation announced in 2007 that the Petroleum Agreement signed in 2004 between Ghana represented by the Ministry of Energy and the Corporation, on the one hand, and Kosmos Energy HC and its partners had yielded in the discovery of oil in commercial quantities.[3] Production of crude oil begun in December 2010. The country's oil fields are known as Jubilee fields and is situated at Cape Three Points in the Western region of the country. The corporation has controlling stake in all the oil wells that produce crude oil. In April 2011, GNPC confirmed that it had an initial 10% interest in a new oil discovery at the Paradise prospect offshore Ghana. The discovery was announced in April 2011 by Hess Corporation, a New York-based oil company.[4] In June 2011, the corporation lifted 135,675 metric tonnes of Jubilee crude oil from the FPSO Kwame Nkrumah. This represented crude oil on behalf of the Ghana Group, comprising the Government of Ghana (GoG) and GNPC. It represented the first lifting of crude oil from the Jubilee fields. The barrels lifted comprised accumulated government royalties of 37,557 metric tonnes and accumulated GNPC’s 13.75 per cent participating interest entitlement of 98,119 metric tonnes.[5]

References[edit]

  1. ^ "Alex Mould heads GNPC". ghananewsagency.org. 6 October 2013. Retrieved 20 February 2014. 
  2. ^ a b "About GNPC". www.gnpcghana.com. Retrieved 4 June 2011. 
  3. ^ "SIGNIFICANT OIL DISCOVERY IN GHANA". www.gnpcghana.com. Retrieved 5 June 2011. 
  4. ^ "GNPC confirms 10% initial interest in newly found oil in Ghana". www.ghanabusinessnews.com. Retrieved 5 June 2011. 
  5. ^ "GNPC Lifts 994,691 Barrels Of Crude Oil". www.ghanaoilonline.org. Retrieved 5 June 2011. 

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Ghana_National_Petroleum_Corporation — Please support Wikipedia.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.

105 news items

Ghanasoccernet

Ghanasoccernet
Fri, 19 Sep 2014 01:37:30 -0700

The rest are Alex Mould (CEO of the Ghana National Petroleum Corporation), Rex Danquah, a sports expert who will serve as the secretary and consultant to the committee, and Abdulai Yakubu, chief director in the ministry of Youth and Sports.
 
GhanaWeb
Fri, 29 Aug 2014 06:57:03 -0700

Officials of Tullow Oil plc, Ghana National Petroleum Corporation (GNPC), the Ministry of Finance, Ghana Petroleum Commission and journalists are on the tour with the minister. Large quantities of oil and gas have been discovered offshore Cape Three ...
 
GhanaWeb
Thu, 18 Sep 2014 21:30:00 -0700

When the team's headline sponsors, Ghana National Petroleum Corporation (GNPC) decided to increase the bonuses from $10,000 to $15,000 per player late last year, there was a lot of hue and cry about it, especially with the prevailing economic ...
 
GhanaWeb
Wed, 17 Sep 2014 13:03:45 -0700

An evaluation committee consisting of personnel from the Ghana National Petroleum Corporation (GNPC), the PC and the Ministry of Energy and Petroleum (MOEP) then review the applications based on, among other things, the technical and financial ...
 
AllAfrica.com
Wed, 17 Sep 2014 02:33:45 -0700

Gaps have also been identified in the Ghana National Petroleum Corporation Act, 1983 (PNDCL 64). These gaps include gender blind provisions and the lack of gender balance in the composition of the Board. The Petroleum Exploration & Production Law, ...

Citifmonline

Citifmonline
Tue, 16 Sep 2014 05:25:48 -0700

The CEO of the Ghana National Petroleum Corporation (GNPC) has expressed shock that his outfit may have paid for Black Stars friendly matchess even after the Ghana Football Association (GFA) had received payments from agents for the same matches.

spyghana.com

GhanaWeb
Tue, 16 Sep 2014 07:03:45 -0700

The Chief Executive Officer of the Ghana National Petroleum Corporation(GNPC), Alex Mould, is demanding accountability from the Ghana Football Association over expenses made on the Black Stars ahead of Ghana's World Cup campaign. Mould, who ...
 
Ghana
Mon, 25 Aug 2014 01:26:15 -0700

The Report also called on Parliament to seek evidence of efficient spending of previous allocations to the Ghana National Petroleum Corporation (GNPC) as a condition for allowing GNPC to have control over its revenues—as demanded— noting that the ...
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