Breaking News

Oil: Ghana tops in sub-Saharan Africa



                                           


Ghana was ranked number one in sub Saharan Africa in terms of risks versus rewards in the oil and gas industry, the Industry Risk/Reward Index - Upstream Oil & Gas report has revealed.
The country also placed 17th globally and was ranked high in all the four criteria which were industry reward, country reward, country risk and industry risk.
The report said Ghana is the regional outperformer, profiting from relative political stability, an open and competitive domestic market and strong prospectivity below ground.
“Ghana is the regional outperformer in our Upstream Risk/Reward Index, with a strong Rewards profile combining with a relatively low level of risk”, it added.
Angola and Nigeria sit towards the top of the regional index, in fourth and second place, respectively.
Nevertheless, they significantly underperform their potential, ranking 51st and 29th globally. Both hold a large oil reserves base, but challenging political and security environments and chronic underinvestment has begun to curtail exploration and production growth outlooks


source:.myjoyonline.com

No comments