Ghana Doles Out Oil Blocs for Free

Ghana is one of the youngest oil producing countries in the world. It started oil production in late 2010, with a capacity of 55,000 barrels per day. There has been significant increase since, as the Jubilee field produces approximately 110,000-200,000 barrels of light sweet crude oil, and 140 million cubic feet of natural gas daily.

By August 2012, an amount of US$ 903 million was generated from the natural resource into the country's purse. Almost five years down the line, since the country was placed on the league of oil producers, though falls in the 88th position, not a single law has been passed by Parliament with regards to how our oil blocks should be awarded.

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