Dr. Donkor Fordwor, a special assistant to Ghana's Commissioner for Finance, inaugurated the first board?
Dr. Donkor Fordwor, a special assistant to Ghana's Commissioner for Finance, inaugurated the first board of the Ghana Petroleum Distribution company in Accra on Monday (July 29), marking the complete take over of the company from its founders the Italian firm, ENI.
Dor Fordwor told the new board the energy crisis had given an unprecedented place of prominence to petroleum products. The control of the uses of petroleum products had become so crucially important that it should not be left entirely in the hands of private enterprise.
The distribution fir AGIP, set up in 1960, agreed that 50 per cent of the shares would be acquired by the Ghana Government after 10 years. The Italian founders also took steps to progressively put the management of the company into Ghanian hands. In 1973 the Government decided to acquire the company and an agreement was signed on June 4 this year.
Negotiations are also going on at the moment between the Ghana Government and ENI for the acquisition of 50 per cent of the shares of an Italian owned refinery in Ghana.
Dr. Fordwor told the new board they were charged with the task of seeing that AGIP(Ghana) Ltd. thrived and expanded as a vigorous commercial enterprise which would obtain the necessary fuels and lubricants to turn the wheel of industry and agriculture.