Ghana is to receive about 22,000 barrels of crude oil daily from the Jubilee Fields, according to Deputy Energy Minister, Kofi Buah. Speaking on Joy FM’s Super Morning Show, the Minister revealed that a Domestic Supply Requirement agreement had been reached to sell about 22,000 barrels of crude oil to the Tema Oil Refinery (TOR) out of the 45,000 barrels that are expected to be produced daily. The country’s current crude oil needs, according to the Minister, amount to about 42,500 barrels a day. Mr Buah said that oil marketing companies that buy crude oil from Ghana would be obligated to sell some of their stock to the domestic market. “There’s a Crude and Lifting agreement that lays clear guidelines as to who is going to lift …. Ghana reserves the right to get 22,000 barrels, plus other oil companies will have to add to what we need for our domestic supply.” Mr Buah was quick to point out that initial production would be marketed on the international market first, therefore, Ghana would not receive its share of the initial productions of the Jubilee Oil (the name of Ghana’s crude oil). This he said, is to place Jubilee Oil among the most sought after crude oil on the international market. The Minister was however, somewhat diplomatic in his answer to host, Kojo Oppong Nkrumah’s question on whether concessions will be made when the Jubilee Oil is sold to TOR. Kofi Bentil of IMANI (Policy think tank), also a panelist, however, said he strongly doubted that the government of Ghana would push for concessions since that could inevitably cripple the economy. According to him, Ghana owns 55% of oil drilled from the Jubilee Fields but the sale of oil to the country’s domestic market would be subject to the international price of oil. Mr Bentil pointed out that in the event of any concessions, smuggling would be promoted in the country, thereby, subsidizing the sale of oil to neighboring countries. He said for instance of the entire production from the Jubilee Fields is about 100,000 barrels, Ghana's share of 55,000 that will go to the Tema Oil Refinery will be bought at the "existing world market price." “[For] the person in the street therefore, oil, as in petrol, the prices will not necessarily go down. “What it will do is to guarantee supply. Now that is not to say that politicians are wicked. It is simply that if you choose to sell to yourself cheaper, you are going to subsidize your neighbouring countries because they will just smuggle the oil across.” Mr Bentil said livelihoods will be affected by the oil industry, especially those living in areas near the Jubilee Fields and as such, it was incumbent on the government to draw up measures that will deal with the short-term and long-term problems of locales in such areas. Story by Fidel Amoah/Myjoyonline.com/Ghana