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Govt studying Exxon-Kosmos deal

Comment: OSUALOMO

Author:
MKO
Date:
2009-10-08 12:49:35
Comment to:
Re: How it works - AKOSUA


I just hope that you are not insulting me, as I do not think there's anything I've written that would warrant it.

I agree with you, But the question is do we have competent and DEDICATED people running our affairs for us.

Left to me, the issuing of new licenses ought to be suspended and the transfer of existing licenses/mandates restricted by an executive order (if appropriate) as the risks associated with exploration has been drastically curtail by current discoveries finds. Also a potentially "juicy" area should be reserved for exclusive exploration in the future by a wholly run Ghanaian entity (say GNPC)

The country should now focus on building a new refinery (preferably in the Western or Central Region) Sekondi-Takoradi area would be preferable because there is already a deep harbour there and a naval base (to provide security)

Also we should concentrate on developing / building a "land based service" or logistic industry to service these off shore fields. This is how you extract maximum benefit for your people ...creating jobs.

Building a refinery could be very very challenging in the current climate (ie raising finance)- but not impossible. This how we can add value (create jobs, obtain a premium on refined products by way of export duties etc, make use of by-products eg. bitumen for roads, plastics etc etc.

By not doing these, we will be repeating past mistakes, like for example in the cocoa industry where we failed to build on adding value to the bulk of the product.

It is important to do these things at the outset ...waiting usually result in the growth of lobbying interests that would in future lobby against such developments because they see their interests, profits and influence being eroded ...examples being the crude traders trading on the futures markets, the bulk carriers, overseas refineries etc. (...and you think they are imaterial, think agian)

I know this is kind of simplistic, but I hope you get the bigger picture.

This article is closed for comments.

10-08 04:51
 
 
 
 
 
 
 
OSUALOMO
MKO
10-08 12:49
JAH-jerry >>>>>>>>>>>>>>>>>>>>
10-08 09:05