The Ghana National Petroleum Corporation (GNPC) is set to lift its first Jubilee crude cargo by the second week of March.This will make GNPC the fourth partner to lift crude oil from the jubilee field after Tullow and two others. According to the schedule agreed amongst the partners, the lifting will be done according to the proportion of partners’ interest in the field.

GNPC has said that it is working closely with its partners to obtain the best price for the crude oil and expects to sell it at a price slightly higher than Brent crude which is currently trading at US$97 per barrel. The corporation reported that it is evaluating proposals from world class oil traders and consumers as well as leading Ghanaian bulk distributors of refined petroleum products in order to select a suitable partner.

It says it will be doing its second lifting possibly on the 30th or 31st of May this year. It however adds that the lifting dates could change depending on production, stocks and terminal operations.