Legal experts demand Ghana change its oil company contracts. Current agreements fail to bring fair money back to the country. The Institute of Economic Affairs hosted a meeting about petroleum deals. Victor Anku Tsede from Excel Legal Consultancy said Ghana needs better terms. He believes technical workers should lead future talks without political pressure.
The government signed a deal with major oil companies extending licenses until 2040. Tullow Oil, Kosmos Energy, PetroSA, Ghana National Petroleum Corporation and Explorco received four extra years. The companies plan to drill 20 new wells with two billion dollars in investment. Civil society groups worry about the timing and transparency of this extension. They question whether the...