President John Evans Atta Mills has cautioned his government will not hesitate to punish investors who take undue advantage of the people.
While promising to support foreign investors in their business endeavours, President Mills says the laws of the country must guide all.
He was speaking to officials of Kosmos Energy Exploration Group who paid a courtesy call on him on Thursday, at the Castle, Osu.
According to Stephen Anti, Joy News' Castle Correspondent, the meeting was held in a cordial, relaxed atmosphere, with the executives of Kosmos paying glowing tribute to Ghana’s democracy.
President Mills said the people of the Western Region must be made to feel the oil presence in their community, and advised Kosmos Energy to develop the community during their period of exploration.
He also advised the group to procure goods and services from local sources in order to promote business in the region.
Greg Hill, President of Kosmos Energy told Stephen Anti after the meeting, that figures emanating from the oil fields in Ghana were not bloated in order to boost the stocks of the company as has been speculated by the media.
He maintained Ghana has oil reserves in excess of two billion barrels which will be explored for the benefit of the country.
Mr. Hill was however evasive on what percentage of revenue from the exploration will be made available to government for purposes of development.
Story by Nathan Gadugah
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
Our business policies will foster growth of private sector – President Mahama
10 minutes -
Opoku-Agyeman’s ascension not merely a political triumph, it signals our commitment to gender equality – Mahama
10 minutes -
I’ll have humility to take responsibility for challenges and resolve them – Mahama
21 minutes -
This is an opportunity for new governance – President Mahama
41 minutes -
I’ve got no doubt your administration will bring about positive change – Tinubu to Mahama
42 minutes -
I am here to walk with you; don’t hesitate to reach out – Bola Tinubu to Mahama
47 minutes -
Bola Tinubu urges Africans to resolve disagreements through dialogue, not conflict
54 minutes -
You have been a worthy opponent – Mahama tells Akufo-Addo
1 hour -
‘Today marks a new beginning, we shall reset Ghana’ – Mahama to Ghanaians
1 hour -
Mahama vows to focus on public health to mitigate future pandemic risks
1 hour -
Your voices will matter – Mahama to Ghanaians
1 hour -
Alan Kyerematen advocates establishment of 2bn dollar market infrastructure development fund
1 hour -
Bond market: Turnover drops 20.58% to GH¢522m
2 hours -
Consistent debt repayment to improve Ghana’s rating status; default extremely low
2 hours -
Your early concession eased tensions in the country – Mahama applauds Bawumia
2 hours