Audio By Carbonatix
Emirates National Oil Co. denied a senior Ghanaian official’s claim that the company is in talks about supplying the West African nation with fuel in return for gold.
“This is totally baseless and incorrect,” an ENOC person said to Bloomberg on Tuesday. “There have been no discussions regarding this subject.”
Ghana’s government reached a “tentative” agreement with the Dubai-based oil firm, Kabiru Mahama, an economic adviser to Vice President Mahamudu Bawumia, said on Friday.
Ghana, Africa’s second-largest gold producer, last week ordered large mining companies to sell 20% of the metal they refine to the central bank from Jan. 1. It’s trying to build up reserves of bullion to be used to import fuel and reduce demand for dollars after a currency plunge of 57% this year.
“We’re open to any international oil-trading company that is interested,” Mahama had said in a phone interview. “Starting next October, all our oil-product needs would be swapped for gold.”
Latest Stories
-
Judicial Service to recruit more professional mediators to expand court-connected ADR programme
3 minutes -
GNAT demands probe into alleged assault on teachers by soldiers
5 minutes -
Video: The abandoned but completed and fully-equipped Children’s Specialist Hospital at Weija
13 minutes -
CEO of MobileMoney Ltd joins MoMAG to celebrate May Day with sports and solidarity
13 minutes -
UniMAC leads national conversation on World Press Freedom Day in Ghana
15 minutes -
Allied Health professionals object to withdrawal of Korle Bu Laboratory head’s appointment
20 minutes -
Health Ministry rolls out National Health Compact to strengthen healthcare system
23 minutes -
Gov’t urged to urgently rehabilitate Tamale-Bolgatanga Highway
30 minutes -
GRMA urges gov’t to scale up specialised midwifery training to reduce maternal mortality
32 minutes -
Black Stars have succeeded through poor administration but it’s difficult this time – Herbert Mensah
40 minutes -
GFA must take responsibility if Black Stars fail – Herbert Mensah
46 minutes -
Inside Mahama’s AI bet
51 minutes -
EU-accredited university unveils $5,000 Charles Agyinasare Scholarship for Ghanaians
58 minutes -
Commitment is built into men, but it remains a choice – Film Director
1 hour -
President Mahama, Krobos commend Terlabi for facilitating upgrade of Odumase Krobo Police Command
1 hour