Ghana Parliament passes petroleum revenue bill

You Are Here: Home » Lead Story, Oil & Gas » Ghana Parliament passes petroleum revenue bill

Ghana’s Parliament today Wednesday March 2, 2011 passed the country’s most talked about Petroleum Revenue Management Bill.

Correspondents in Parliament tell ghanabusinessnews.com that the bill was taken through the third and final reading and passed before 12 noon. Parliament voted unanimously to agree on the bill after several amendments.

Popular amongst the amendments is the Clause 5 which would allow Ghana to collateralize the country’s oil revenue. In other words, it would allow the government to borrow against any future oil revenues.

It would also set-up an independent regulatory body to regulate the oil industry in the country.

By Emmanuel K. Dogbevi

|
| Tweet This! |

Comments