Asia's big oil companies, backed by their governments, are outbidding their Western rivals
President John Evans Atta Mills, his government and
the Ghana National Petroleum Corporation are entertaining offers
for cooperation and a stake in the Jubilee oil field from all
over Asia. Since ExxonMobil's US$4 billon offer for Kosmos Energy's
23.5% stake in the Jubilee field was rejected last month (AC Vol
51 No 17), Asian national oil companies have been doing the rounds
in Accra, all aiming to become GNPC's financier and operating
partner. Kosmos, however, is contemplating a listing of its shares
as an alternate way to go ahead with the project....
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