Business News of Sunday, 29 August 2010

Source: GNA

Oil companies will comply with the laws - Ablakwa

Takoradi, Aug. 29, GNA - Government will ensure that oil companies comply with the laws of the country as well as with business agreements, Mr Okudjeto Ablakwa, a Deputy Minister of Information on at the weekend said.

He was speaking at a public forum on the oil find organized by the Committee for Joint Action (CJA) at Takoradi.

Mr Ablakwa said people should not think that oil companies could flout the country's laws and get away with.

"Oil companies must act within the country's strategic and natural resources interests", he declared.

He said government was concerned about the oil sector as much as the people that oil companies did the right thing at all times.

Mr Ablakwa said at the same time, the country would guard against unfortunate incidences that befell some oil producing countries.

He said government would also ensure that the Western Region in particular and the country as a whole derived maximum benefit from the oil find.

Mr Ablakwa said fishermen would not lose their livelihood as a result of the oil find, but would be allowed to fish in approved areas.

Mr Kwesi Pratt, a leading member of CJA, called on government to protect the country's natural resources.