Ghana, Turkey in oil barter deal

Turkey says it has reached an agreement with Ghana to buy oil from the country through a barter scheme arrangement.

News in the Turkish media seen by ghanabusinessnews.com says Turkey’s State Minister for Foreign Affairs, Zafer Çağlayan has indicated that he has had talks with two oil producing countries in West Africa – Nigeria and Ghana, and the two countries have responded positively to such an arrangement. The Turkish Minister recently toured Ghana, Nigeria and Equatorial Guinea, all oil producing countries. And while in Ghana, he was reported to have met Ghana’s Vice President John Mahama.

Under the arrangement, he said Turkey will purchase oil from Nigeria and Ghana and pay for it by investing in tourism, energy, health and other infrastructure.

Ghana officially became an oil producing country following the launch of commercial activities by President Mills at the Jubilee oil field yesterday December 15, 2010.

Ghanabusinessnews.com has been unable to reach the Vice President’s office for comments.

By Emmanuel K. Dogbevi