The Petroleum Hub Development Corporation (PHDC) and the UK-Ghana Chamber of Commerce (UKGCC) have reaffirmed their commitment to a strategic partnership aimed at driving the successful realization of Ghana’s Petroleum Hub—an ambitious project set to transform the country into a regional energy and petrochemical powerhouse. The renewed pledge was made during a courtesy visit by...
Day: July 8, 2025
Post
Post
Oil exploration drives Namibia’s foreign investment to N$13.9 billion
Ongoing oil exploration and appraisal activities have propelled Namibia’s net foreign direct investment (FDI) to N$13.9 billion in the first quarter of 2025, according to the Bank of Namibia. The surge represents a 28.8% increase from the previous quarter and a 14.5% rise year on year, underscoring the impact of sustained activity in the country’s...
Post
Nigeria Togo Owe Over $11 Million in Q1 2025 Electricity Debt
In the first quarter of 2025, Benin and Togo accumulated more than $11 million in unpaid electricity bills to Nigeria, according to the Nigerian Electricity Regulatory Commission (NERC). Out of a total $17.24 million billed to six international customers, only $5.8 million was recovered, representing a collection rate of just 34%. While Niger Republic fully paid its invoice of $3.03 million,...
Post
U.S. Department of Energy Warns Risk of Blackouts Is Rising
The U.S. Department of Energy has warned that blackouts could increase substantially in the coming years unless more baseload capacity is added to the grid. The department issued its warning in a report that said the premature retirement of generation capacity and the delay in replacing that capacity with new baseload facilities had created a mismatch between...
Post
GMP expresses concern over misleading media reports based on spurious petition
Accra, Ghana – 7th July 2025 – GMP has taken note of several recent media reports that appear to be based on a petition allegedly submitted by Petraco Energies DMCC to the Economic and Organised Crime Office (EOCO). These reports repeat claims that are not only inaccurate but also misleading and damaging, creating an unfortunate...
Post
Springfield Refutes Petraco Allegations, Labels Claims “False and Misleading”
Springfield Exploration and Production Limited (SEP) has firmly denied allegations made by Petraco Oil Company SA, describing them as “false, unfounded, and without merit.” The accusations surfaced after Petraco filed a petition with the Economic and Organised Crime Office (EOCO), prompting widespread media attention. However, Springfield insists the matter is purely a commercial dispute currently...
Post
Brazil and China energy agreements include uranium focus
Brazil’s Ministry of Mines and Energy and China General Nuclear Power Group have signed a letter of intent to cooperate on energy transition efforts, sustainability “and the peaceful and sustainable use of nuclear mineral resources in Brazil”. The agreement was signed during the BRICS summit being held in Brazil and was part of a wider...
Post
Underwater turbine spinning for 6 years off Scotland’s coast is a breakthrough for tidal energy
Submerged in about 40 meters (44 yards) of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh sea environment that...
Post
COPEC and GPRTU Demand Clarity on GH¢1 Fuel Levy, Urge Time-Bound Implementation
The Chamber of Petroleum Consumers (COPEC) and the Ghana Private Road Transport Union (GPRTU) are calling on the government to provide clear timelines and transparent accountability measures for the newly announced GH¢1 levy on petroleum products. Set to take effect on July 16, 2025, the levy excluding Liquefied Petroleum Gas (LPG)is aimed at helping to...
Post
High Energy Costs Threaten Viability of 24-Hour Economy – GNCCI CEO Warns
The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye, has raised red flags over Ghana’s high industrial energy costs, warning that they could undermine the successful implementation of the 24-hour economy policy recently launched by the National Democratic Congress (NDC). Speaking on PM Express on a popular TV...