We operate within the law – GNPC to ACEP

The Ghana National Petroleum Corporation (GNPC) has dismissed allegations against it made by the energy policy think tank Africa Centre for Energy Policy (ACEP).

ACEP had said its checks revealed that this company is registered with Dr. K. K. Sarpong, CEO of the GNPC and Freddie Blay, Board Chairman of GNPC as directors.

“ACEP’s search has not yet ascertained beneficial owners of Jubilee Oil Holdings. It is important to note that the representation of the CEO and Board Chair of GNPC, with their names in the General Registry of Cayman Islands, is not enough proof that GNPC is the owner of the Jubilee Oil Holdings.

“However, in the absence of evidence on shareholders of Jubilee Oil Holding, we proceed with the assumption that GNPC owns the company.”

But in a statement responding to these claim, GNPC said “The Corporation continues to operate within the remit of the legal framework and has no intention of flouting any legal requirements and procedures. As the Corporation has always indicated, the Corporation welcomes engagement with any stakeholder in its operations. All documents on the transactions are available for scrutiny and inspection.”