Total upstream petroleum expenditure across Ghana’s three producing fields — Jubilee, TEN, and Sankofa-Gye Nyame (SGN) — amounted to US$643.09 million in the first half of 2025, representing a 3.84 percent decline from the US$668.79 million recorded in the same period in 2024. This was contained in the Public Interest and Accountability Committee’s (PIAC) 2025...
Day: October 9, 2025
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Petroleum Revenues Drop 56% in H1 2025 to $370.34m
Ghana’s petroleum receipts for the first half of 2025 fell sharply by 56 percent year-on-year, according to the Public Interest and Accountability Committee (PIAC) in its 2025 Semi-Annual Report on the utilisation of revenue from the country’s crude oil production. The report revealed that a total of US$370,343,681.17 was lodged into the Petroleum Holding Fund...
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Ghana’s Crude Oil Output Dips by 25.9% in First Half of 2025
Ghana’s crude oil production declined sharply by 25.92 percent year-on-year in the first half of 2025, according to the Public Interest and Accountability Committee (PIAC). The Committee’s 2025 Semi-Annual Report on the management and use of petroleum revenues revealed that total output from the country’s three producing offshore fields — Jubilee, TEN, and Sankofa-Gye Nyame...
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ExxonMobil signs Majnoon oil field deal, marking return to Iraq
ExxonMobil signed agreements that lay the groundwork for it to explore Iraq’s giant Majnoon oil field, ending the company’s near two-year hiatus in the country.The Texas oil major has signed heads of agreements with Basra Oil Co. and SOMO, Iraq’s oil marketing company, the nation’s Prime Minister Mohammed Shia Al-Sudani said Wednesday. Goal include developing...
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McDermott, PETROFUND sign agreement to develop Namibia’s oil and gas workforce
McDermott has signed a Memorandum of Understanding (MoU) with the Petroleum Training and Education Fund (PETROFUND) to advance technical training and workforce development in Namibia’s growing oil and gas sector. The partnership will align academic and industrial training with international standards, offering Namibian students, job seekers, and service providers access to education, mentorship, and employment...
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Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start
Uganda’s long-awaited oil refinery project is finally moving closer to reality, with operations expected to commence between the fourth quarter of 2029 and the first quarter of 2030. The project, one of the largest of its kind on the continent, aims to reduce the region’s reliance on imported fuel, strengthen domestic energy security, and position...