DOCSLIB.ORG

Skaten2017.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Skaten2017.Pdf This thesis has been submitted in fulfilment of the requirements for a postgraduate degree (e.g. PhD, MPhil, DClinPsychol) at the University of Edinburgh. Please note the following terms and conditions of use: This work is protected by copyright and other intellectual property rights, which are retained by the thesis author, unless otherwise stated. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This thesis cannot be reproduced or quoted extensively from without first obtaining permission in writing from the author. The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the author. When referring to this work, full bibliographic details including the author, title, awarding institution and date of the thesis must be given. From Refining to Smuggling: The Everyday Politics of Petrol in Ghana Monica Skaten PhD in African Studies University of Edinburgh 2017 1 2 Declaration I declare that the thesis has been composed by myself and that the work has not been submitted for any other degree or professional qualification. I confirm that the work submitted is my own. My contribution and those of the other authors to this work have been explicitly indicated below. Monica Skaten March 2017 Edinburgh, UK 3 4 Abstract From Refining to Smuggling: The Everyday Politics of Petrol in Ghana This thesis presents an ethnographic study of the downstream petroleum industry in Ghana focusing on trade, infrastructure, flow, politics and social relationships. In 2010, the West African Republic of Ghana started pumping crude oil from the offshore Jubilee-field. The rapid development from discovery to extraction, along with economic expectations generated by the development of the new upstream industry, led to exponential growth in the downstream industry. A liberalisation reform of the downstream industry was initiated in 2005 and the state started to redefine its role in the petroleum industry, allowing a range of private entrepreneurs to participate in the downstream sector. On the back of these key transformations of the industry, this thesis demonstrates the continuous politicisation of petroleum products on a national level and the significance of this politicisation on infrastructure, networks and social relationships throughout the industry. This thesis argues that the trade, distribution and price of petroleum products in Ghana facilitates and shapes political and economic reciprocity between the government, the publics and profitable economic networks. Even though there was adequate infrastructure such as refinery, pipelines and petroleum storage depots, petroleum products in Ghana were distributed in a way that allowed the most number of people to come into contact with petroleum, by having access to the actual product, but also through enabling job creation and profitable economic activities. The petroleum infrastructure would obstruct profitable networks and informal markets. I propose the term ‘Politics of Petrol’ to emphasise how the industry and the commodities were part and parcel of the political and social fabric in Ghana. Reflecting the negotiable nature of politics and reform alongside the changeable practices and networks in the industry - Politics of Petrol - demonstrates the productive purpose of petroleum in Ghana’s democracy. 5 Table of Contents DECLARATION 3 ABSTRACT 5 TABLE OF CONTENTS 6 LIST OF ACRONYMS 9 LIST OF ILLUSTRATIONS 10 ACKNOWLEDGEMENTS 11 INTRODUCTION 12 RUSH TO ‘FIRST OIL’ 13 DOWNSTREAM BOOM 18 INDUSTRY TOPOGRAPHY: WHY FOCUS ON THE DOWNSTREAM INDUSTRY? 20 MANAGING SCOPE AND ANALYTICAL CATEGORIES 26 TRACKING OIL: FIELD SITES AND METHODOLOGY 30 FIELD SITES 30 ETHNOGRAPHY AND ETHICS 35 CHAPTER ONE 41 THE POLITICS OF PETROL IN GHANA 41 INTRODUCTION 41 THE POLITICS OF PETROL 41 “IT’S POLITICAL” 42 THE POLITICISATION OF PETROLEUM PRODUCTS IN GHANA 48 LEGACIES: AFFORDABLE PETROL AND STATE CONTROL 48 THE FOURTH REPUBLIC: COMPETITION, ELECTIONS AND REFORM 55 OIL, STATE AND SOCIETY 60 ANTHROPOLOGY, OIL AND NEOLIBERALISM 67 CONCLUSION 73 CHAPTER TWO 75 ‘POLITICS’ AT TEMA OIL REFINERY 75 INTRODUCTION 75 REFINING THE NATION: PETROL MADE IN GHANA 76 6 NATIONALISATION OF THE REFINERY: YEARS OF TROUBLE 83 DEMOCRACY, DEREGULATION AND DISCOVERY 86 GAS PROCESSING: DISTRACTING ATTENTION 93 THE MISSING CARGO: EVERYDAY LIFE AT TEMA OIL REFINERY 95 CONCLUSION 104 CHAPTER THREE 107 THE TEMA HEAVY INDUSTRIAL AREA AND REFORM 107 INTRODUCTION 107 EVERYDAY BUSINESS AT TEMA HEAVY INDUSTRIAL AREA 108 THE REGULATOR: THE NATIONAL PETROLEUM AUTHORITY 111 EXPANSION AND ‘DEREGULATION’: ‘BDCS AND OMCS’ 114 “THE SYSTEM IS TOO MUCH”: VOICES FROM ESTABLISHED PETROLEUM ACTORS 119 NAAGAMNI OIL: THE POLITICS OF PETROL IN NEW SPACES 123 CLEANING UP THE INDUSTRY: CONTINUITIES IN THE POLITICS OF PETROL 131 CONCLUSION 137 CHAPTER FOUR 139 WAITING FOR PETROL 139 INTRODUCTION 139 BOST AND BUIPE 139 “IT’S COMING” 142 WAITING, RUMOURS AND INFRASTRUCTURE 146 THE ‘POLITICS’ OF DISTRIBUTION 153 PETROLEUM STORAGE DEPOTS: THEFT AND UNCERTAINTY 154 PETROLEUM BARGES AND PIPELINES: MAINTENANCE AS ‘POLITICS’ 158 TRUCKS: DISTRIBUTION POLITICS AND UNIFIED PETROLEUM PRICE FUND 162 CONCLUSION: WHY WAIT? 164 CHAPTER FIVE 167 SAFETY, CONTAMINATION ‘POLITICS’ AND PETROLEUM HIERARCHIES 167 INTRODUCTION 167 THE EXPLOSION AT NKRUMAH CIRCLE 168 RISK IN THE ASHANTI REGION: NPA AND THE PETROLEUM PRODUCT MARKETING SCHEME 172 ADULTERATION AND CONTAMINATION 174 ON FIELD INSPECTIONS 180 SAFETY HIERARCHIES 188 CONCLUSION 195 CHAPTER SIX 197 THE PRICE OF PETROL 197 7 INTRODUCTION 197 PRICE REFORM AND RESISTANCE 198 THE NEW PRICING REGIME: THE POLITICS OF TRANSPARENCY 205 HARM AND CARE: POLITICS OF PETROL PRICE BEYOND THE ACRONYMS 212 EXTERNALITIES IN THE POLITICAL PROJECT 215 OIL TRADING: ELITE ACCUMULATION 217 LIQUEFIED PETROLEUM GAS (LPG) 220 SMUGGLING 223 CONCLUSION 231 CHAPTER SEVEN 233 THE NATIONAL FUEL SHORTAGE OF 2014 233 INTRODUCTION 233 CRISIS: SHORTAGES AND INFORMAL MARKETS 234 ‘ARTIFICIAL SHORTAGE’: FILLING STATIONS OWNERS’ USEFUL SCAPEGOATS 239 NEGOTIATING THE SHORTAGES: BDCS SHOWING MUSCLES 242 CONSOLIDATING RELATIONSHIPS 245 NORTHERN PRIORITIES AND DISTRIBUTION 250 WHEN THE DUST SETTLES: THE AFTERMATH OF THE SHORTAGE 255 CONCLUSION 258 CONCLUSION 261 INTRODUCTION 261 RETURNING TO THE INDUSTRY 261 THE POLITICS OF PETROL 264 REFORM 265 UPSTREAM – DOWNSTREAM 267 CONCLUSION 269 APPENDIX 1:PETROLEUM PRICE BUILD UP PER 20TH NOVEMBER 2014 270 BIBLIOGRAPHY 271 8 List of Acronyms Automatic Petroleum Product Price Formula (APPPF) Bulk Distributing Company (BDC) Bulk Oil Storage and Transportation Company (BOST) Floating Production and Storage Operator (FPSO) Ghana National Petroleum Corporation (GNPC) Ghana Oil Company (Goil) Health Safety and Environment (HSE) Letter of Credit (LC) Liquefied Petroleum Gas (LPG) National Democratic Congress (NDC) National Patriotic Party (NPP) National Petroleum Authority (NPA) Oil Marketing Company (OMC) Oil Trading Company (OTC) Petroleum Product Marketing Scheme (PPMS) Residual Fuel Catalytic Cracker (RFCC) Tema Heavy Industrial Area (THIA) Tema Oil Refinery (TOR) Tweneboa, Enyenra and Ntomma (TEN) Unified Petroleum Price Fund (UPPF) 9 List of illustrations Introduction: Table 0.1: Benchmark Project Timelines in West Africa. Cairn Energy (2015). Image 0.2: Ghana’s Offshore Oil Fields. Ghana Oil Watch (2015). Table 0.3: Fieldwork Timeline 2013-2014. Author (2014). Image 0.4: Field Site Locations. Google Maps (2016). Chapter 2: Image 2.0: Kwame Nkrumah and Italian Visitors. (TOR, 2017). Image 2.1: Opening Ceremony. (TOR, 2017). Image 2.2: Tema Refinery. Author (2014). Image 2.3: TOR Workers at Rally. (Ocloo and Mordey, 2016). Image 2.4: MD of TOR. (Ocloo and Mordey, 2016). Chapter 3: Table 3.0: Source: NPA Statistics 2016, Table: Author (2016). Image 3.1: Sumaila at a filling station in Tamale. Author (2014). Image 3.2: Naagamni Logo. (2014). Image 3.3: THIA Office Pink Cable Ties. Author (2013). Chapter 4: Image 4.0: State-Owned Petroleum Infrastructure in Ghana. Google Maps (2014). Image 4.1: Satellite Image of Buipe Town, Port and Petroleum Storage Depot. Google Maps (2014). Chapter 5: Image 5.0: Figure x: My Own Rendition of Atsu’s Drawing. Author (2014). Image 5.1: Rural filling stations in Ashanti Region. Author (2013). Image 5.2: Temporary outlet. Author (2013). Image 5.3: Taking Underground Tank Samples. Author (2013). Image 5.4: Trying to Charge the American Machine. Author (2013). Chapter 6: Table 6.0: Dataset NPA 2016. Table: Author (2016). Table 6.1: Dataset NPA 2016. Table: Author (2016). Table 6.2: Data: NPA 2014. Chart: Author (2016). Table 6.3: Data: NPA 2014. Table: Author (2016). Image 6.4: The Ghanaian Times. Author (2016). Image 6.5: Paga at the Ghanaian Border with Burkina Faso. Google Maps (2016). Chapter 7: Image 7.0: Informal Sale of Petroleum Products. Author (2014). Image 7.1: Naagamni Filling Station in Tamale during the Shortage. Author (2014). 10 Acknowledgements I would like to express my sincere gratitude to my supervisors Dr. Gerhard Anders and Dr. José Maria Munoz. I could not have asked for a better team! The two excellent scholars have given me patient guidance, encouragement and support. Their comments on uncountable drafts have shaped this thesis in many ways. Gerhard and José are brilliant supervisors, but most of all inspiring and good people. For everything, thank you! There are many people in Ghana that contributed to the research and that made my time there a rich and fulfilling experience. Sumaila Mesuna opened his home, business and social networks beyond what I could have asked for. I am forever grateful for everything he did for my research and for his efforts to keep me safe and in good health. I further like to thank Osman Mesuna, Nasara Mesuna and Sawatu Mesuna for their hospitality and friendship. Appreciation goes to every single manager and worker of Naagamni Oil that has accommodated me in offices and filling stations across Ghana. A special thanks also goes to Issah Charles, Bryan Nabia and Fuseni Ayologo for helping me at various field sites. I appreciate all the help and contacts I was granted through the Norwegian Embassy in Ghana.
Load more

Recommended publications
  • 2016 Annual Aggregate Report
    2016 REPUBLIC OF GHANA MINISTRY OF FINANCE, GHANA SOE ANNUAL AGGREGATE REPORT Table of Contents ACRONYMS ..................................................................................................................................................................................................... 2 ACKNOWLEDGEMENT ..................................................................................................................................................................................... 3 FOREWORD ..................................................................................................................................................................................................... 4 STATEMENT FROM EXECUTIVE CHAIRMAN, STATE ENTERPRISES COMMISSION (SEC) .................................................................................. 5 EXECUTIVE SUMMARY .................................................................................................................................................................................... 6 1 INTRODUCTION ...................................................................................................................................................................................... 7 2 OVERVIEW OF THE SOE SECTOR ............................................................................................................................................................ 8 3 CONTRIBUTION OF THE SOE SECTOR ....................................................................................................................................................
    [Show full text]
  • Guin April 28, 2017
    April 28, 2017 GSE MARKET STATISTICS SUMMARY Weekly Stock Market Review GSE-CI Extends Gains: The equities market ended the week in the positive Current Previous % Change territory anchored on price gains in 8 counters. The Ghana Stock Exchange’s Databank Stock Index 24,800.75 24,672.90 0.52 Composite Index (GSE-CI) gained 10.37 points w/w to ~1,896 points, while GSE-CI Level 1,896.13 1,885.76 0.55 the Databank Stock Index surged by 128 points w/w to ~24,800 points. The Market Cap (GH¢ m) 58,822.68 48,778.78 20.59 year to date returns of the GSE-CI and the Databank Stock Index stand at YTD Return DSI 11.05% 10.48% 12.26% and 11.05% respectively. YTD Return GSE-CI 12.26% 11.64% Weekly Volume Traded (Shares) 2,142,471 1,812,263 18.22 A block trade in Ecobank Transnational Inc. propelled the volume of shares Weekly Turnover (GH¢) 2,785,677 1,639,744 69.88 traded by ~17% w/w to ~2.1 million shares. These trades, which occurred Avg. Weekly Volume Traded (Shares) 1,059,295 1,049,043 0.98 across 22 counters, were valued at ~GH¢2.7 million. Avg. Weekly Value Traded (GH¢) 1,473,386 1,460,057 0.91 The market breadth of the Ghana Stock Exchange was positive w/w: 8 No. of Counters Traded 22 21 gainers to 3 laggards. Unilever Ghana increased by 15Gp to GH¢9.05. Access No. of Gainers 8 6 Bank Ghana moved up 10Gp to GH¢4.00.
    [Show full text]
  • MANUFACTURING MORAL PANIC: Weaponizing Children to Undermine Gender Justice and Human Rights
    MANUFACTURING MORAL PANIC: Weaponizing Children to Undermine Gender Justice and Human Rights Research Team: Juliana Martínez, PhD; Ángela Duarte, MA; María Juliana Rojas, EdM and MA. Sentiido (Colombia) March 2021 The Elevate Children Funders Group is the leading global network of funders focused exclusively on the wellbeing and rights of children and youth. We focus on the most marginalized and vulnerable to abuse, neglect, exploitation, and violence. Global Philanthropy Project (GPP) is a collaboration of funders and philanthropic advisors working to expand global philanthropic support to advance the human rights of lesbian, gay, bisexual, transgender, and intersex (LGBTI) people in the Global1 South and East. TABLE OF CONTENTS Glossary ...................................................................................... 4 Acronyms .................................................................................................. 4 Definitions ................................................................................................. 5 Letter from the Directors: ......................................................... 8 Executive Summary ................................................................... 10 Report Outline ..........................................................................................13 MOBILIZING A GENDER-RESTRICTIVE WORLDVIEW .... 14 The Making of the Contemporary Gender-Restrictive Movement ................................................... 18 Instrumentalizing Cultural Anxieties .........................................
    [Show full text]
  • PRESS RELEASE PR. No 034/2019 GHANA OIL COMPANY LIMITED (GOIL) ANNUAL REPORT and CONSOLIDATED FINANCIAL STATEMENT for the YEAR
    PRESS RELEASE PR. No 034/2019 GHANA OIL COMPANY LIMITED (GOIL) ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 GOIL has released its Annual Report and Consolidated Financial Statements for the year ended December 31, 2018 as per the attached. Issued in Accra, this 9th day of April, 2019 - E N D – att’d. Distribution: 1. All LDMs 2. General Public 3. Company Secretary, GOIL 4. MBG Registrars, (Registrars for GOIL shares) 5. Custodians 6. Central Securities Depository 7. Securities and Exchange Commission 8. GSE Council Members 9. GSE Notice Board For enquiries, contact: Head Listing, GSE on 0302 669908, 669914, 669935 *GA GHANA OIL COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 GHANA OIL COMPANY LIMITED ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 CONTENTS PAGE COMPANY INFORMATION 1 REPORT OF THE DIRECTORS 2 - 3 REPORT OF THE AUDITOR 4 - 7 STATEMENT OF COMPREHENSIVE INCOME 8 STATEMENT OF FINANCIAL POSITION 9 STATEMENT OF CHANGES IN EQUITY 10 STATEMENT OF CASH FLOWS 11 GENERAL INFORMATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 12 - 26 OTHER NOTES TO THE FINANCIAL STATEMENTS 27 - 40 GHANA OIL COMPANY LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2018 BOARD OF DIRECTORS: Hon. Peter Kwamena Bartels - Chairman Mr. Patrick Akpe K. Akorli - Group CEO/MD Mr. Thomas Kofi Manu - Member Hon. Kwame Osei-Prempeh - Member Mr. Beauclerc Ato Williams - Member Mrs. Beatrix Agyeman Prempeh - Member Mr. Robert Owusu Amankwah - Member Mrs. Rhoderline Baafour-Gyimah - Member Mr. Stephen Abu Tengan - Member SECRETARY: Nana Ama Kusi-Appouh AUDITOR: PKF Chartered Accountants Farrar Avenue P.O.
    [Show full text]
  • Governance Newsletter -1-16-8-2016.Cdr
    GOVERNANCE NEWSLETTER A Publication of The Institute of Economic Affairs Vol. 21 No. 1 January/February 2016 PROPORTIONAL REPRESENTATION: A SOLUTION TO WINNER-TAKES-ALL POLITICS IN GHANA? The Winner – Takes- All (WTA) Politics the IEA WTA Advisory Committee and the project is an initiative of the Institute of Board. Economic Affairs (IEA). The WTA project A copy of the Winner -Takes -All Politics forms part of a larger governance research report was submitted to The President of project which dates back to 2014. The aim of Ghana and disseminated to key stakeholders. this project is to promote a “More inclusive and All subsequent papers on the subject including accountable system of Governance in Ghana'. this paper have been developed based on At the end of an almost two year consultation themes/issues identified in the final report. and research process a report was produced by Presented by Dr. Ransford Gyampo1 Summary This paper is the first in a series of publications aimed at contributing to the debate over the “winner-takes-all” politics in Ghana. It discusses the winner-takes-all as an electoral formula within the context of Ghanaian politics. It highlights the dangers of the winner-takes-all politics such as the marginalization of perceived political opponents and the feeling of exclusion from the governance process by those who do not belong to the ruling party. The paper argues further that the winner-takes-all politics undermines the quest for national development, cohesion and the drive towards democratic maturity and consolidation. In proffering policy recommendations, the paper critically examines proportional representation as one possible mechanism for ensuring inclusive governance and dealing with some of the challenges associated with the winner-takes-all politics.
    [Show full text]
  • National Sports Authority, Ghana Propelling Ghana to High International Recognition
    National Sports Authority, Ghana Propelling Ghana to high international recognition Mission statement The National Sports Authority exists to develop, organise promote and manage competitive and social sports with the view to promoting health, fitness, recreation, national cohesion and professionalism that ensures sustainable wealth creation, vigorous infrastructure development and proactive management which leads to sports excellence and international recognition. We foster teamwork and pursue the highest standard of excellence, honesty, fairplay, innovation and productivity in our service delivery. Our human resources, being our most treasured assets, operates in a congenial working environment and are continually developed and motivated to instil loyalty, devotion and commitment to win the respect of our stakeholders. Objectives 1. To promote and encourage the organisation and development of, and mass participation in, amateur and professional sports in Ghana 2. To co-ordinate and integrate all efforts to raise the standards of performance in amateur and professional sports throughout Ghana Functions of NSA 1. Organise and assist the participation of Ghanaian sportsmen and sportswomen in amateur and professional sports at district, regional, national and international levels 2. Be responsible for taking insurance cover for all sportsmen, sportswomen and sports officials chosen to represent Ghana 3. Provide financial assistance to any team or person for the purpose of enabling that team or person to represent Ghana in international competitions 4. Encourage Ghanaians to participate in sporting activities in or outside Ghana 5. Provide sports instructors to any person, team or organisation 6. Provide and maintain sports centres and facilities for use by all sportsmen and sportswomen 7. Maintain all playing fields and stadia provided by the body Honourable Minister Clement Kofi Humado, Minister of Youth and Sport known as the National Playing Fields Board 8.
    [Show full text]
  • Radiation Protection Institute Annual Report for the Year 2015
    RADIATION PROTECTION INSTITUTE ANNUAL REPORT FOR 2015 GHANA ATOMIC ENERGY COMMISSION RADIATION PROTECTION INSTITUTE ANNUAL REPORT FOR THE YEAR 2015 Executive Summary The Radiation Protection Institute (RPI) of the Ghana Atomic Energy Commission was established to provide the scientific and technical support for executing the operational functions of the Radiation Protection Board. The operational activities of the Institute for the year 2015 include: Ninety Seven (97) authorizations to possess and/or use irradiating devices, radiation sources and radioactive materials. There were also regular compliance inspections to ensure protection of radiation workers, patients and the public and the security and safety of radiation sources. One Hundred and Five (105) permits were granted for import, export, and transport, construction and transfer of radioactive materials. A total of Four Hundred Sixty-Three (463) food samples and industrial raw materials were analyzed and certificates issued for radioactivity contamination. Individual or personal monitoring was provided for One thousand, Seven hundred and Thirty-Five (1,735) occupationally exposed workers in Ghana. Fifty-Seven (57) radiation survey meters were calibrated using the facilities at the Secondary Standards Dosimetry Laboratory (SSDL). Seven Hundred and Twenty-Seven (727) Base Stations were monitored during the year under review. Twenty (20) research projects were undertaken to enhance protection and safety of radiation workers, patients and the general public. Fourteen (14) journal articles were published. There were Nine (9) National Training Courses organized by RPI for end user Institutions for their specific applications. Four (4) IAEA Training Courses were organized. The internally generated funds from the service activities were used to support and sustain the regulatory, service, research and development activities of the institute.
    [Show full text]
  • Ghana at a Glance: 2002-03
    COUNTRY REPORT Ghana Ghana at a glance: 2002-03 OVERVIEW The New Patriotic Party (NPP) government will persist with its investigations into cases of maladministration and corruption on the part of the previous government. While this will lead to tensions between the opposition National Democratic Congress (NDC) and the NPP, a military coup is not expected. The government will meanwhile continue to focus on reforms designed to improve macroeconomic stability. Efforts to reduce the country’s fiscal deficit, together with a range of other policy reforms, donor support and recovery in the agricultural sector, should lead to a gradual acceleration of GDP growth. As fiscal and monetary policy is more co- ordinated, the Economist Intelligence Unit forecasts a gradual decline in the inflation rate, while improved macroeconomic stability should see the value of the cedi stabilise. Key changes from last month Political outlook • The president, John Agyekum Kufuor, has performed his first cabinet reshuffle, in an attempt to improve the government’s ability to implement economic policy. Economic policy outlook • The government has issued a three-year Government of Ghana index- linked bond (GGILB), to replace up to 50% of the domestic debt of C6trn (US$844m), now held in 91- and 182-day Treasury bills. The instrument’s interest and principal are linked to the consumer price index, providing full inflation protection to the holder. Economic forecast • Our economic forecasts have been moved on by one year to 2003. We now expect growth to pick up to 4.8% of GDP in 2003, against a background of falling inflation.
    [Show full text]
  • Good Energy Contents Contents
    ANNUAL REPORT AND 2014 FINANCIAL STATEMENTS Good energy contents contents 02 Company Information 03 Notice of 46th Annual General Meeting 04 Resolutions to be passed at the Annual General Meeting 05 Profile of New Directors to be Elected 06 Board of Directors 07 Address by Chairman 10 Management Team 11 Report of the Directors on The Financial Statements 13 Corporate Governance 14 Disclosure Requirements 16 Independent Auditor's Report 18 Statement of Comprehensive Income 19 Statement of Financial Position 20 Statement of Changes in Equity 21 Statement of Cash Flow 22 Notes to The Financial Statements 43 Proxy Form GOIL Annual Report & Financial Statements 2014 Company Information Notice of 46th Annual General Meeting BOARD OF DIRECTORS Prof. William A. Asomaning – Chairman NOTICE IS HEREBY GIVEN that the 46th Annual General Meeting of the Shareholders of Ghana Oil Mr. Patrick Akpe Kwame Akorli – Managing Director Company Limited will be held at the Auditorium, College of Physicians and Surgeons, Ridge, Accra on Hon. Nii Laryea Afotey-Agbo – Member Thursday, 30th April, 2015 at 11:00 am for the transaction of the following business: Nana Esuman Kwesi Yankah – Member Mr. Eugene Akoto-Bamfo – Member Mr. Chris A-Ackummey – Member AGENDA Mad. Faustina Nelson – Member Mr. Thomas Kofi Manu – Member ORDINARY BUSINESS Hon. Kojo Bonsu – Member 1. To receive and consider the reports of the Directors and the Auditors and the Financial Statements of the Company for the year ended December 31, 2014. 2. To declare a dividend for the year ended December 31, 2014. SECRETARY Mr. Stephen Y. Gyaben 3. To elect Directors to replace retiring Directors.
    [Show full text]
  • Has Gse Played Its Role in the Economic Development of Ghana?
    CAPITAL MARKET 23 YEARS AND COUNTING: HAS GSE PLAYED ITS ROLE IN THE ECONOMIC DEVELOPMENT OF GHANA? 1st CAPITAL MARKET CONFERENCE BY EKOW AFEDZIE, DEPUTY MANAGING DIRECTOR MAY 10, 2013 INTRODUCTION Ghana Stock Exchange (GSE) was established with a Vision: -To be a relevant, significant, effective and efficient instrument in mobilizing and allocating long-term capital for Ghana’s economic development and growth. INTRODUCTION OBJECTIVES - To facilitate the Mobilization of long term capital by Corporate Bodies/Business and Government through the issuance of securities (shares, bonds, etc). - To provide a Platform for the trading of issued securities. MEMBERSHIP OF GHANA STOCK EXCHANGE GSE as a public company limited by Guarantee has No OWNERS OR SHAREHOLDERS. GSE has Members who are either corporate or individuals. There are two categories of members:- - Licensed Dealing Members - 20 - Associate Members - 34 HISTORICAL BACKGROUND 1968 - Pearl report by Commonwealth Development Finance Co. Ltd. recommended the establishment of a Stock Exchange in Ghana within two years and suggested ways of achieving it. 1970 – 1989 - Various committees established by different governments to explore ways of bringing into being a Stock Exchange in the country. HISTORICAL BACKGROUND 1971 - The Stock Exchange Act was enacted. - The Accra Stock Exchange Company incorporated but never operated. Feb, 1989 - PNDC government set up a 10-member National Committee on the establishment of Stock Exchange under the chairmanship of Dr. G.K. Agama, the then Governor of the Bank of Ghana. HISTORICAL BACKGROUND July, 1989 - Ghana Stock Exchange was incorporated as a private company limited by guarantee under the Companies Code, 1963. HISTORICAL BACKGROUND Nov.
    [Show full text]
  • Beyond the Budgets
    BEYOND THE BUDGETS A Collation of Government Policies On Wages & Salaries, Energy and Employment, Volume 1 2001 – 2006 Compiled by Kwadwo Baah-Wiredu M.P Minister of Finance and Economic Planning and Budget Implementation Support Team Foreword This publication is to provide a quick reference material for: 1. Academics, 2. Students; 3. Researchers; 4. Social Commentators; 5. Politicians; as well as 6. Economic Planners. On the three (3) critical areas, 1. Employment; 2. Energy; and 3. Wages. that have provided the most formidable challenge to economic planners in Ghana with reference to the last two (2) decades. The content of the publications are drawn from the Budget Statement and Economic Policies of Governments of Ghana. The two publications available cover the following time periods: 1. Volume 1: 2001 – 2006 2. Volume 2: 1982 – 2000 Subsequent volumes will cover: 1. Period from 1951 to 1981; 2. Translation into at least six (6) local languages. Since Democracy and good governance thrives on the availability of information, this publication will provide an excellent resource material on the national economy in these three (3) key areas mentioned above. These publications will be made available to a very wide segment of the population including posting them on Ministry of Finance and Economic Planning website: www.mofep.gov.gh. We hope that this document will stimulate active discussion on these 3 critical issues of national concern. We are walking on the path of honour and courage. Kwadwo Baah-Wiredu, M.P. Minister TABLE OF CONTENTS Foreword 2 Table of Contents 4 Wages Policies of Government of Ghana 5 Energy Policies of Government of Ghana 7 Employment Policies of Government of Ghana 17 POLICIES FROM BUDGET ON WAGES AND SALARIES 2005, FEBRUARY, 24 “Government being mindful of the importance of higher wages in mitigating hardships and enhancing the productivity of its employees was “committed to improving the remuneration of Ghanaians and will grant increases in salaries in consultation with all stakeholders”.
    [Show full text]
  • Ghana: State Treatment of LGBTQI+ Persons
    Ghana: State treatment of LGBTQI+ persons March 2021 © Asylos and ARC Foundation, 2021 This publication is covered by the Creative Commons License BY-NC 4.0 allowing for limited use provided the work is properly credited to Asylos and ARC Foundation and that it is for non-commercial use. Asylos and ARC Foundation do not hold the copyright to the content of third-party material included in this report. Reproduction or any use of the images/maps/infographics included in this report is prohibited and permission must be sought directly from the copyright holder(s). This report was produced with the kind support of the Paul Hamlyn Foundation. Feedback and comments Please help us to improve and to measure the impact of our publications. We would be extremely grateful for any comments and feedback as to how the reports have been used in refugee status determination processes, or beyond, by filling out our feedback form: https://asylumresearchcentre.org/feedback/. Thank you. Please direct any comments or questions to [email protected] and [email protected] Cover photo: © M Four Studio/shutterstock.com 2 Contents 2 CONTENTS 3 EXPLANATORY NOTE 5 BACKGROUND ON THE RESEARCH PROJECT 7 ACKNOWLEDGEMENTS 7 FEEDBACK AND COMMENTS 7 WHO WE ARE 7 LIST OF ACRONYMS 8 RESEARCH TIMEFRAME 9 SOURCES CONSULTED 9 1. LEGAL CONTEXT 13 1.1 CONSTITUTION 13 1.2 CRIMINAL CODE 16 1.3 OTHER RELEVANT LEGISLATION AFFECTING LGBTQI+ PERSONS 20 2. LAW IN PRACTICE 24 2.1 ARRESTS OF LGBTQI+ PERSONS 26 2.1.1 Arrests of gay men 29 2.1.2 Arrests of lesbian women 31 2.1.3 Arrests of cross-dressers 32 2.2 PROSECUTIONS UNDER LAWS THAT ARE DEPLOYED AGAINST LGBTQI+ COMMUNITY BECAUSE OF THEIR PERCEIVED DIFFERENCE 33 2.3 CONVICTIONS UNDER LAWS THAT ARE DEPLOYED AGAINST LGBTQI+ COMMUNITY BECAUSE OF THEIR PERCEIVED DIFFERENCE 36 3.
    [Show full text]