Business News of Tuesday, 23 May 2023
Source: www.ghanaweb.live
2023-05-23PetroSA deal is not in the interest of Ghana – NAPO tells Freddie Blay, GNPC
Energy Minister, Dr Matthew Opoku Prempeh
The Minister for Energy, Dr. Matthew Opoku Prempeh, alias NAPO, has called out the Board Chairman of the Ghana National Petroleum Corporation (GNPC), Freddie Blay, over the PetroSA deal, which seeks to offload some of Ghana's oil interests to the South African National Company (PetroSA).
According to The Chronicle newspaper, NAPO, in
Read full articlea letter to Freddie Blay, which it sighted, accused the former New Patriotic Party (NPP) chairman of pushing for the deal despite a government directive for it to cease.
The energy minister, who is also the member of parliament for Manhyia South, told Blay that it is scandalous for him to be pushing for the deal even though he has been told on a number of occasions that it will not be approved because it is not in the interest of Ghana.
He ordered the GNPC board chairman to withdraw from the deal and to stop further engagements on it.
"Subsequent to the meeting with my counterpart, Hon. Gwede Mantasha, Minister of Mineral Resources and Energy in South Africa, on the above subject, I have had cause to formally respond to him in two successive correspondences affirming the government's position on the matter, and you were in copy in all instances.
"It is therefore scandalous that, in spite of these directives, you have led GNPC to offer part of the government-acquired JOHL interest in the DWT to PetroSA. I direct that you cease and desist from any further flouting of the directives forthwith and withdraw the offer made to PetroSA in your letter of 23 April 2023 immediately," parts of Napo's letter to Blay is quoted by The Chronicle.
In another letter to President Nana Addo Dankwa Akufo-Addo, NAPO complained that Blay was going on with the PetroSA deal even though he had been directed not to.
He told the president that the GNPC was trying to sell 50 per cent of the 7 per cent interest the government recently acquired in the Anadarko West Cape Three Points Company (WCTPC).
"The Chairman of the GNPC Board, in the letter under reference, is inviting PetroSA to preempt the 7% interest that was recently acquired by the Government of Ghana from Anadarko West Cape Three Points Company ("Anadarko") and proposing an equal split of the Deep Water Tano ("DWT") portion which would decrease the government's interest.
"We wish to bring this action of the Chairman, which is in direct contravention of the Government of Ghana's express directives on the subject matter, to the urgent attention of His Excellency the President," parts of the letter which was addressed to the secretary to the president, read.
Read the letter NAPO wrote to Freddie Blay and Akufo-Addo below:
