The sports category has moved to a new website.

Ghanaian government to revoke four petroleum exploration licences for lack of development

The Ghanaian government is set to annul the petroleum exploration licenses of some four companies which have not developed their allocated oil blocks.

Deputy Petroleum Minister, Dr Mohammed Amin Adam

According to the Deputy Petroleum Minister, Dr Mohammed Amin Adam, this is part of measures put in place by the government to ensure that its petroleum assets are developed for the benefit of Ghanaians.

He indicated that the companies were identified for termination after they reviewed 14 licences that were awarded in recent years to other companies.

Speaking on the possibility of companies already producing to further explore offshore areas the minister said that the laws on petroleum and exploration would have to be amended.

The amendment will allow companies already producing to further explore offshore areas for more oil.

ADVERTISEMENT

“We’re changing our law to allow companies that are already producing in a certain area to continue with exploration. We have in our laws, provisions that constrain investment,” he said.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

African countries with the highest divorce rate

African countries with the highest divorce rate

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

ADVERTISEMENT