| | | Pump oil ‘like there’s no tomorrow’ – Ghanaian president John Mahama has warned that the African country’s oil reserves could be useless if not tapped before the world shifts to clean energy - -
Ghanaian President John Mahama has urged investors to ramp up oil production in the West African country like “there’s no tomorrow,” as delays in drilling could leave valuable resources untapped amid a global transition to renewable energy.
The call comes as Ghana faces a steady decline in crude output.
“Everybody who has any assets should be pumping like there’s no tomorrow,” the Ghanaian leader said, speaking at the Africa CEO Forum in Abidjan, the commercial capital of Ivory Coast (Cote d’Ivoire) on Tuesday.
“I will lay a red carpet to anybody who wants to drill and pump oil because in the next decade or two, the world would have made a transition to renewables,” he explained.
Despite calling for accelerated drilling, Mahama reaffirmed Ghana’s commitment to clean energy, noting that the Renewable Energy Act mandates at least 10% of the national energy mix come from renewable sources.
Ghana’s oil production fell to 48.25 million barrels in 2023, down from 71.44 million in 2019, according to the Public Interest and Accountability Committee, which monitors petroleum revenues.
Mahama, who took office in January, accused the former government of holding back the sector through regulatory delays and disputes with key investors, including London-based Tullow Oil and Italy’s energy giant Eni.
rt.com |
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