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15.06.2007 Business & Finance

President Kufuor calls for continues oil exploration in Ghana

President John Agyekum Kufuor has expressed confidence that Ghana would strike oil in future, and asked the oil companies to continue with their exploration for the product.

Speaking at a meeting with a three-member delegation from Shell, at the Osu Castle, he said light-heartedly: "When I heard you were calling on me, I was happy because I thought you were coming to tell me that you have hit oil."

President Kufuor congratulated Shell for its centenary celebrations and expressed the wish that the event would be a critical point for better business relations with Ghana.

He urged Shell to open more filling stations in the country, as was the case in the past.

Mr Xavier Le Mintier, Senior Vice President for Shell Oil Products, Africa, who led the delegation, said his company had been active in Ghana for the past 75 years with the focus on retailing and mining.

He described Ghana as an investor friendly with bright prospects for business in future, hence the decision of Shell to introduce new products such as V-Power (unleaded fuel) in the country, which was the first in West Africa.