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Pulse Business Wrap Tullow says budget cuts will not affect project in Ghana

The oil exploration firm this year slashed about $100 million of its budget, raising fears it may hold back investments in Ghana.

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Tullow Oil has insisted fresh budget cuts will not affect its projects in Ghana.

The oil exploration firm this year slashed about $100 million of its budget, raising fears it may hold back investments in Ghana.

However, the company’s CEO Aidan Heavey says a decision was taken early in the year not to cut cost at the Tweneboa-Enyenra-Ntomme (TEN) project and other projects in Ghana.

In other news, President Mahama has issued a stern warning to pair trawlers that they risk arrest because they are destroying the fishing industry.

He told fishermen in the Central Region that he has instructed the Ghana Navy to arrest any one who engages in light fishing and pair trawling. 

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.80                             4.10

Pound Sterling             5.48                              5.78

Euro                             4.28                              4.58

 

On how your stocks performed on the GSE Index today

CAL Bank Limited and Ghana Commercial Bank Limited were the biggest losers of the day, dropping 2p each to close at 0.85 and 3.00 respectively.

There were no gainers for the day.

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