Libya has agreed to supply 30,000 barrels of oil per day to Ghana to augment the supply from Nigeria.
The deal, which is on favourable terms, makes up for the 60,000 barrels needed daily by Ghana. Nigeria supplies the other 30,000 barrels.
This was disclosed to newsmen at the airport by Mr Hackman Owusu Agyeman, Foreign Minister on his return from Tripoli, where he delivered a special message from President John Agyekum Kufuor to Muammar Quathafi, the Libyan Leader.
He said Libya has also agreed to Ghana's request for a 250 million dollars to establish an investment fund for small-scale and agro-industries as well as assistance to business.
Mr Owusu Agyeman said Tema Oil Refinery has the capacity to refine 45,000 barrels of crude oil per day while the Aboadze Thermal Plants requires 15,000 barrels of oil daily.
The Foreign Minister said the Nigeria's supply of 30,000 barrels could not meet Ghana's requirement hence the need to scout for the extra 30,000 barrels from Libya.
"The Energy Minister is still in Tripoli working out details of the concessional terms and arrangements with his counterpart to enable the lifting of the oil to begin in August.
Asked why Ghana did not fall on oil producing countries, within the Sub-region, Foreign Minister said, "We could not have gone to the open market to bid for oil due to the urgency of Ghana's requirement and especially when Libya has agreed to offer us oil on concessionary terms".
He said they held bilateral discussions on need to strengthen relations between the two countries and discussed the next meeting of Ghana-Libya Permanent Joint Commission to be held in July this year as well as exchange of ambassadors.
They also discussed the fate of the supposedly three Ghanaians, who have been condemned to death after the riot in that country last year, stressing, however, that the nationality of the three would have to be ascertained by Ghana before the government could intervene.
He said the two countries also discussed the forthcoming African Union (AU) summit in Zambia.
At the airport to meet the Foreign Minister was the Libyan Charge d Affairs Tahar Edward-Zebra Aghrahi.
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