The Chamber of Mines has urged the government to ensure due diligence before any trade of gold for oil agreements ahead of its implementation in 2023.
Of all the motley crew of ideas the government of Ghana has churned out in recent days and weeks to deal with the country’s deteriorating public finances, none has caught fire like the decision to start buying oil with gold rather than dollars.
From January 2023, the Ghana government will exchange gold for oil. That is gold produced locally will be exchanged for a portion of the petroleum needs of Ghana
Minister Guilbeault made the following statement after the just completed COP 27 Climate talks “During a global energy crisis, we are more committed than ever to support the global transition to cleaner, renewable forms of energy, by transitioning away from our dependency on fossil fuels”.
The world’s biggest climate conference – the COP summit, seen as a means of holding major powers to their climate pledges, is becoming increasingly controversial as we’re seeing greater participation from oil and gas lobbyists as environmentalists have mounting fears of yet another case of greenwashing.
Green Energy International Limited (GEIL), an indigenous company operating the Otakikpo marginal field in Oil Mining Lease (OML) 11, will expand oil production to 25,000 barrels per day next year.
The Ghanaian government on Thursday announced its plans to buy oil products with gold rather than the United States’ dollar reserves
Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that Nigeria needs to spend $410 billion above usual to deliver its energy transition plan by 2060, more than N10 billion yearly.
The Deputy Energy Minister, Dr Mohammed Amin Adam, says government is ready to implement its gold-for-oil barter deal
At least 600 million people in Africa are without access electricity and with inadequate funding for power generation, Russia’s Rosatom state nuclear energy corporation now proposes to provide, over the next several years, mini nuclear plants for generating reliable and affordable power in a number of African countries.