The Impact of Globalization on Ghana’s Oil and Gas Sectors

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The article examines Ghana’s oil sector within the context of the debate on the impact of globalization on oil-rich developing economies. Globalization is used in this context to mean the influx of foreign direct investments (FDIs) in Ghana’s oil and gas sector. The research adopts the qualitative methodological approach and uses the concepts of resource curse and globalization as theoretical and conceptual frameworks, pointing out the correlations between them. It argues that after five years of oil production, globalization has had both positive and negative impacts on Ghana’s oil and gas sector. It has generated revenues, contributed to infrastructure development, engendered local content development, and effected corporate social responsibility. However, some challenges involving collateralization of the resources, employment, the environment, and socio-economic life in oil production remain.