President of Equatorial Guinea arrives in Ghana

The President of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo arrived in Accra on Tuesday for a four day state visit.

His visit follows similar visits by President Mills this year during which Equatorial Guinea agreed in principled to supply Ghana with 2,000,000 barrels of oil annually under the sales and purchase agreement.

The crude oil sale and purchase contract was signed between the GNPC and Equatorial Guinea de Petroleos on behalf of the two countries.

Ahead of his visit, Ghana has started taking delivery of 1,050,000 barrels of oil under the contract.

President Mills secured the deal in May this year during his visit to that country.

Equatorial Guinea is selling the oil to Ghana under a 90 day credit agreement.

President Mbasogo who is accompanied by government officials and business delegation was met by President Mills and some government officials.

Welcoming President Mbasogo at Kotoka International Airport, President Mills said Ghana cherishes the warm relations between the two countries and with the visit the bond will further be strengthened.

President Mbasogo on his part said, he is in Ghana to strengthen ties and also form closer collaboration with the country for the common good of their people.

Source: GBC