reasonable price for extraction of the oil in ghana

                                               
                                               
                                               
                                               
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  • Does the government regulate the local oil market in Ghana?
  • In Ghana, the local crude oil market proxies international oil pricing, resulting in the government having little or no role in terms of price settings in the local oil industry. This review also notes that the local petroleum products market has been deregulated since 2015 by the regulator.‌
  • Is Ghana a net importer of petroleum products?
  • Ghana is a net importer of crude oil, petroleum products, and natural gas in the history of petroleum consumption.‌
  • What if oil revenue is flowing in Ghana?
  • 1.37 With oil .revenue flowing, Ghana will be confronted with a number of choices. Ghana needs first to decide what part o f oil revenue it wants to spend now, versus later. This inter- temporal choice should be dictated by absorptive capacities considerations (the social return of oil revenue spending).‌
  • Why is Ghana’s petroleum industry important?
  • The petroleum industry is very critical to many sectors of the Ghanaian economy and provides a range of products from crude oil and gas, petrochemical products to the last by-product, bitumen. It is important for growth and development in Ghana.‌
  • Where did Ghana find crude oil?
  • 1.1 Ghana recently found crude oil off the shores of its Western Atlantic Coast. Jubilee field’s estimated reserves: as of October 2009, amount to 490 million barrels of high-quality oil and justify commercial exploitation should barrel oil prices exceed US$30.‌
  • Does Ghana have an exportable surplus before domestic demand re-exceeds?
  • A sensitivity analysis on reserves is presented in Chapter 2. 3 IMF(2009) projects that Ghana’s oil supply (fiom Jubilee Phase I) will enjoy an exportable surplus between 201 1 and 2016, before domestic demand re-exceeds supply. The regime in place applies to the consortium in charge of the Jubilee field exploitation.