24
May
The Civil Society Organisations (CSOs) Coalition on Extractive Governance has raised concerns over attempts by the Ghana National Petroleum Corporation (GNPC) to sell a 50 percent stake of Jubilee Oil Holding Limited (JOHL) to PetroSA, a South African firm. JOHL, a subsidiary of the GNPC, was acquired in 2021 at the cost of US$164,798,691 by GNPC through a Share Purchase Agreement between Anadarko Offshore and GNPC with monies advanced by the Ministry of Finance. In 2022 alone, the interest of JOHL raked in some US$290million, according to the 2022 PIAC annual report. Total payments for cash calls (including fields in…