Govt Begins Talks with Sahara Oil

Information picked up from the corridors of power indicate that top management officials of Nigerian owned oil giants, Sahara Oil, have arrived in the country to discuss the possibility of lifting oil for the Ghanaian market.

Sahara was formerly lifting oil from Nigeria to Ghana, under a deal they struck with the immediate past government, headed by Mr. John Agyekum Kufuor. The contract was, however, not renewed when it expired. It is not clear whether the oil lifting company came to the country on its own, or was invited by the government. The Chronicle can, however, report that the Sahara officials have held a series of meeting with top government officials about the possibility of lifting oil for Ghana once again.

A source told this reporter that though the government’s side is interested in clinching a deal with the company, it is being cautious, following the discovery that interest charged by Sahara is not uniform. The Chronicle has also gathered that though Sahara Oil would always come with a lower bid, compared with their competitors, at the end of the day government would pay more than the highest bidder during the tender process, due to how their interest is calculated.

Ghana government officials made this revelation after thorough studies about the contract signed by the Volta River Authority (VRA) and Sahara to lift crude oil. It was established that as soon as this bottleneck is cleared, Sahara would be contracted by government to begin the lifting of crude oil for the country. Whilst these talks are on-going, The Chronicle has also gathered that the current Board Chairman of the Ghana National Petroleum Corporation (GNPC), Mr. Ato Ahwoi and a high powered government delegation have been dispatched to London to negotiate a government to government deal with Libyan.

The latter, according to the source, is being represented by Tam Oil, a wholly owned Libyan oil lifting company, which would lift the oil if a deal is struck. A source contacted at the Ministry of Energy, on Wednesday, would neither deny nor confirm the ongoing negotiations with Sahara Oil. The source, however, confirmed that the Board Chairman of GNPC and some government officials are in London to negotiate with Tam Oil for a possible supply of oil to Tema Oil Refinery (TOR).

GNPC is said to be used in the deal because it has a stronger Balance Sheet, unlike TOR, which has been blacklisted by the banks.

Meanwhile, plans are far advanced to begin the forensic audit into the books of all agencies under the Ministry of Energy, after which a restructuring policy would be implemented to streamline their operations. TOR currently has over one thousand worker, with many General Managers, who do not have any Mangers reporting to them.