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Ghana hedging oil output at $107barrel

ACCRA : Ghana is hedging 100 percent of the state share of its oil production at $107 per barrel, Finance Minister Kwa
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By Muhammad Iqbal
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oilACCRA: Ghana is hedging 100 percent of the state share of its oil production at $107 per barrel, Finance Minister Kwabena Duffuor said on Thursday.

The West African state began commercial oil production in December 2010 with the start up of the offshore Jubilee field, which is running at around 70,000 barrels per day and could reach a target 120,000 bpd by July.

Duffuor was speaking to reporters at a news conference, and did not immediately give further details.

COPYRIGHT REUTERS, 2011

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