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15.07.2016 Feature Article

Damongo Mutawakilu: No NDC Minister Ever Paid for $6 Billion Loss in Oil Revenues!

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It appears that Ministers in Parliament are now attacking each other in Accra over the power the 2016 Petroleum Exploration and Production (E&P) gives the Petroleum Minister to quash contracts and award to any company or individual "the Minister" selects.

According to the Vice Chairman, Mines and Energy Committee, Mr. Adam Mutawakilu, of Damongo, the bill does not favor NDC or NPP, whatever party is in power, adding:

"...We have civil society organisations in this country that are very active and if the Minister knows the regulation that he should do and he refuses to execute it, I know Ghanaians will take it on and the Minister will pay severely for that..."

Sure, we agree with the party-neutral aspect of the bill.

But even so, that proposition assumes there will be always fair, transparent, and timely elections.

However, that is small casava compared to the fraud being extended and perpetrated on Ghanaians by the NDC government under Mr. Mahama and his NPP side-kick Mr. T. K "Hybrid" Hammonds, with respect to Ghana's oil revenues.

Civil Society Groups, among them GIGS, have for years argued and provided incontrovertible data showing the so-called Ghana Hybrid System contract is itself fraudulent, contrary to existing PNDC law.

But, Ministers are not listening or taking appropriate action to prevent loss of revenues to Ghana.

So, we must ask Damongo's Adam Mutawakilu when a minister or politician ever paid for defrauding Ghana with respect to any loss to Ghana that was truly significant?

Fact is, GIGS and the Fair-Trade Oil Share Ghana (FTOS-Gh) Campaign have proven a 1,000 times that Ghana has lost more than $6 billion over the last 5 years.

Why? Because the NDC Government under Mr. Mills and Mr. Mahama failed, and are failing, to adopt the global standard Production Sharing Agreement (PSA) for the regulation and generation of revenues for Ghana's oil.

Every country and state in Africa that has oil, including South Sudan of yesterday, uses the PSA to collect their Oil Revenues.

This is not a hidden fact! In a document dated 6 March, 2011, we received several days ago that was made available to NDC Ministers in 2011 , Mr. Doe Ladzekpo, a Ghana national, an Oil and Gas Drilling Operations Geologist with over 30 years of West African exploration experience who wrote "the first and the most complete geology of the Tano Basin" begged the NDC ministers to:

"renegotiate....all existing contracts and adopt the PSC [Production Sharing Contracts] with 70% returns for Ghana, just as Congo and Nigeria have..."

Today, having ignored advice and counsel from many independent and non-partisan sources, Ghana's minister are now fighting over the power to award Oil contracts using that same Ghana-concocted, fraudulent scheme.

But, they all know that the PSA/PSC is the world standard for sovereign oil and gas!

So today, in July, 2016, Ghana is receiving less that 28% of its own revenues using the Ghana Hybrid System fraud of oil contract regime.

Now, Ghana's minister are fighting over the power to award the same predatory, vulture oil contracts to the foreign oil companies!

In sum, the 2016 Oil bill that Deputy Adam Mutawakilu and Deputy Dagadu are championing continues that tradition of robbing Ghana by employing 18th century oil concession/royalty contracts and modalities to regulate oil revenues for Ghana!

For the umpteenth time, we ask that Mr. Mahama stop that "vulture thieving" and loss of Ghana's oil revenues by Ministers for the benefit of the foreign oil companies.

Mr. Mahama can stop all of that by insisting on the adoption of the World Standard PSA for all of Ghana's Oil and Gas, today!

So it goes, Ghana! SOURCE: Ghanaweb, Business News. Petroleum Bill won’t favour one side – MP, 15 July, 2016, (http://www.ghanaweb.com/GhanaHomePage/business/Petroleum-Bill-won-t-favour-one-side-MP-455507).

VISIT FOR MORE INFORMATION: www.GhanaHero.com . Read Mo'! Listen Mo'! See Mo'! Reflect Mo'!

Subj: Damongo Mutawakilu: No NDC Minister Ever Paid for $6 Billion Loss in Oil Revenues!

SEQUEL TO: 1. Get a copy of Mahama-Dagadu-Buah Corporate Vulture Oil Bill

2. Experts: Mahama-Dagadu-Buah 2016 Oil Bill is for Corporate Vultures!

3. This Mahama-Dagadu-Buah 2016 E&P Bill is a Vulture Bill for Oil Companies! ).

Twitter: https://twitter.com/professorlungu Support Fair-Trade Oil Share Ghana (FTOS-Gh) Campaign/Petition

https://www.change.org/p/ghana-fair-trade-oil-share-psa-campaign-ftos-gh-psa/

Brought to you courtesy www.GhanaHero.com©15 July, 2016.

Professor N. Lungu
Professor N. Lungu, © 2016

The author has 183 publications published on Modern Ghana. Column Page: ProfLungu

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