Ghana

[Schneemann]

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Ghana due to begin pumping oil for first time

The West African nation of Ghana is due to pump its first commercial oil after the discovery of the offshore Jubilee Field three years ago.

A consortium led by UK-based Tullow Oil hopes to produce 55,000 barrels per day, increasing to 120,000 barrels in six months.

Ghana, one of Africa's most stable countries, is expected to earn $400m (£254m) in the first year. But laws meant to govern the oil sector have not yet been passed. The discovery of oil off Ghana's coast has raised questions about whether Ghana can escape the "resource curse", where discoveries of valuable commodities fuels conflict and corruption instead of funding development.

Link: <!-- m --><a class="postlink" href="http://www.bbc.co.uk/news/world-africa-11996983">http://www.bbc.co.uk/news/world-africa-11996983</a><!-- m -->

Schneemann.