Ghana to revoke four petroleum licences for lack of development – deputy minister

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CAPE TOWN (Reuters) – Ghana will revoke four petroleum exploration licences from companies that are not developing the assets, the country’s deputy minister for petroleum said on Wednesday.

Mohammed Amin Adam told journalists in Cape Town that the country will take aggressive action to ensure that its petroleum assets are developed.

The licences were identified for termination after a review of 14 licence awards that were made in recent years.

“Four of them are lined up for termination,” he said.

The government has not yet notified the companies involved.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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