An Assessment Of Activities Of Multinational Oil Companies And Their Effects On The Marine Fisheries Industry In Ghana Since 2007

ABSTRACT Oil and gas resources have the potential to generate revenue for its host country. Ghana’s oil find in commercial quantities marked the beginning of an oil industry in the country. Expectations from various stakeholders have been very high, especially the local communities. On the other hand many have cautioned that if proper management structures are not put in place, Ghana may be treading the path of other developing countries where oil discoveries have become a “curse” rather than a “blessing”. The management of natural resources has been one of the biggest challenges for developing countries. Experts in the field of natural resources management have expressed divided opinions in connection with the linkage between natural resources abundance and economic growth. They further acknowledged that, how to translate the wealth of natural resources into a sustainable quality of life in a relatively safe environment is another issue. This research assessed the activities of multinational oil companies and what is being done to mitigate their effects on the marine fisheries industry. The study sought to explore the concerns of actors, what measures are in place to manage conflict between the oil companies and the local fishermen and the existing regulatory frameworks that control operations in the marine environment. The research focused on stakeholders in the fishing and oil industries, using primary and secondary data to analyse concerns raised by stakeholders and other literature relating to the research. The study observed that local fishermen and local chiefs of communities in the catchment area of the oil find are worried that the operations of multinational oil companies at sea are negatively affecting fishing activities. In this regard, the government is enacting some laws and policies which can safeguard the fisheries industry, if well implemented. Also, the capacity of the institutions that will implement these policies is being enhanced. Recommendations are also made to minimize any conflict that may arise between the fishermen and the oil companies – government should put in place regulatory measures to control the operations of the oil companies vis-a-vis the fishing industry. Comprehensive education programmes should be instituted to well inform the local communities on measures put in place to protect their livelihood.

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APA

Africa, P. & MAHAMA, A (2021). An Assessment Of Activities Of Multinational Oil Companies And Their Effects On The Marine Fisheries Industry In Ghana Since 2007. Afribary. Retrieved from https://afribary.com/works/an-assessment-of-activities-of-multinational-oil-companies-and-their-effects-on-the-marine-fisheries-industry-in-ghana-since-2007

MLA 8th

Africa, PSN, and ABU MAHAMA "An Assessment Of Activities Of Multinational Oil Companies And Their Effects On The Marine Fisheries Industry In Ghana Since 2007" Afribary. Afribary, 14 Apr. 2021, https://afribary.com/works/an-assessment-of-activities-of-multinational-oil-companies-and-their-effects-on-the-marine-fisheries-industry-in-ghana-since-2007. Accessed 20 Jul. 2024.

MLA7

Africa, PSN, and ABU MAHAMA . "An Assessment Of Activities Of Multinational Oil Companies And Their Effects On The Marine Fisheries Industry In Ghana Since 2007". Afribary, Afribary, 14 Apr. 2021. Web. 20 Jul. 2024. < https://afribary.com/works/an-assessment-of-activities-of-multinational-oil-companies-and-their-effects-on-the-marine-fisheries-industry-in-ghana-since-2007 >.

Chicago

Africa, PSN and MAHAMA, ABU . "An Assessment Of Activities Of Multinational Oil Companies And Their Effects On The Marine Fisheries Industry In Ghana Since 2007" Afribary (2021). Accessed July 20, 2024. https://afribary.com/works/an-assessment-of-activities-of-multinational-oil-companies-and-their-effects-on-the-marine-fisheries-industry-in-ghana-since-2007