{"id":610418,"date":"2019-04-26T11:11:40","date_gmt":"2019-04-26T11:11:40","guid":{"rendered":"
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General News of Friday, 26 April 2019<\/p>\n

Source: <\/strong>Graphic.com.gh <\/p>\n2019-04-26\n\n

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<\/p>\n

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General News of Friday, 26 April 2019<\/p>\n

Source: <\/strong>Graphic.com.gh <\/p>\n

2019-04-26<\/p>\n

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\"Drplay video<\/span>Dr. Kofi Kodua Sarpong, CEO of Ghana National Petroleum Corporation<\/span><\/span><\/p>\n<\/div>\n

The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr K.K. Sarpong has denied owning Fuel Trade as claimed by the policy think tank, IMANI Africa.<\/p>\n

IMANI Africa had accused Dr Sarpong of engaging in a conflict of interest situation in a US$4.4 billion petroleum agreement between Ghana and Aker Energy Ghana Limited.<\/p>\n

At a press conference in Accra Thursday morning, the Vice President of IMANI Africa, Mr Kofi Bentil, alleged that Dr Sarpong \u201cand his family own Fueltrade,\u201d one of the local partners of the Deepwater Tano \/ Cape Three Points (DWT\/CTP) Petroleum Agreement, with a two per cent stake.<\/p>\n

But in a press statement responding to the allegation, Dr Sarpong stated: \u201cI wish to state emphatically that neither I nor my family own Fuel Trade as claimed by IMANI Ghana.\u201c<\/p>\n

Conflict of interest<\/b><\/p>\n

\u201cConsequently, I, Dr. K.K. Sarpong, Chief Executive of GNPC cannot be accused of conflict of interest in dealing with Aker Energy as stated by IMANI Ghana.\u201c<\/p>\n

\u201cIndeed, Fuel Trade’s 2% stake in the Deepwater Tano Cape Three Points Block was acquired in 2014 long before my appointment in 2017 as Chief Executive of GNPC.\u201d<\/p>\n

Adding, Dr Sarpong said it was surprising to him that IMANI could not carry out due diligence on the ownership of Fuel Trade Limited before arriving at its \u201cerroneous conclusion, causing me serious embarrassment and jeopardising my standing in the international business community.\u201c<\/p>\n

\u201cNo doubt, I have incurred immense economic, political and social cost by IMANI Ghana’s unjustifiable claim,\u201c he added.<\/p>\n

Demanding retraction<\/b><\/p>\n

\u201cThis, I find unacceptable and hereby demand a retraction of the said claim and an unreserved apology from IMANI Ghana and its Deputy Director, Mr. Kofi Bentil within two weeks. The retraction should be given as much prominence as the press conference,” Dr Sarpong indicated.<\/p>\n

\u201cMeanwhile, I reserve my rights to seek legal redress,\u201d he concluded.<\/p>\n

IMANI’s allegation<\/b><\/p>\n

IMANI Africa had stated that Aker Energy is the operator of the Deepwater Tano \/ Cape Three Points (DWT\/CTP) field with a 50 per cent stake and recently submitted a US$4.4 billion plan of development to the government for approval to allow for development and production activities to start.<\/p>\n

According to IMANI, with Dr Sarpong being the CEO of GNPC, another partner of the DWT\/CTP with a 10 per cent stake, it was ethically wrong for a company he and his family own to also be a partner of the field, the Vice President of IMANI Africa, Mr Kofi Bentil said at Thursday morning’s press conference.<\/p>\n

\u201cIt does not look right. We put it out here publicly because we want clarification. We are not against Ghanaian participation in our oil industry but protecting the public purse includes avoiding such conflicts,\u201d he said at the press conference.<\/p>\n

\u201cIt is a zero-sum game; what Ghana has, Aker does not have. So, if it is true that the company is negotiating with itself or there are powers on both sides, I think it is a matter of concern and we need some answers concerning that one,\u201d he added.<\/p>\n

Below is a copy of Dr Sarpong’s response<\/b><\/p>\n

<\/p>\n<\/div>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

General News of Friday, 26 April 2019 Source: Graphic.com.gh 2019-04-26 play videoDr. Kofi Kodua Sarpong, CEO of Ghana National Petroleum Corporation The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr K.K. Sarpong has denied owning Fuel Trade as claimed by the policy think tank, IMANI Africa. IMANI Africa had accused Dr Sarpong […]<\/p>\n","protected":false},"author":1,"featured_media":599524,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-610418","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nKK Sarpong responds to IMANI and denies owning Fuel Trade - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/26\/kk-sarpong-responds-to-imani-and-denies-owning-fuel-trade\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"KK Sarpong responds to IMANI and denies owning Fuel Trade - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"General News of Friday, 26 April 2019 Source: Graphic.com.gh 2019-04-26 play videoDr. Kofi Kodua Sarpong, CEO of Ghana National Petroleum Corporation The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr K.K. 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