NEWS ARCHIVE

African dispute threatens resource development

VITOL's $US7 billion development of the Sankofa gas field in Ghana could be backed by a guarantee of about $470 million from the World Bank's Multilateral Investment Guarantee Agency, with the Danish group applying for the funding, given a border dispute with Ivory Coast.

Haydn Black

Vitol is seeking the guarantee for a period of up to 18 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract in Ghana. While Ivory Coast has...

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