The Africa Sustainable Energy Centre (ASEC) has raised serious concerns about Ghana’s 2026 Budget, warning that despite the country’s recent macroeconomic progress, the energy sector remains burdened by long-standing structural weaknesses that threaten fiscal stability.The concerns follow ASEC’s detailed review of the Budget Statement and Economic Policy presented to Parliament by the Minister for Finance,...
Day: November 15, 2025
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COMAC says Fuel Prices Expected to Rise as Global Crude Oil Costs Increase
The Chamber of Oil Marketing Companies COMAC says Crude oil prices recorded a modest rise in mid-November 2025, a development expected to ease the cedi’s recent gains in the forex market. According to COMACs monthly pricing report, International benchmark prices increased by 2.95%, moving from $62.82 to $64.67 per barrel. Data from the petroleum market...
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2026 Budget: Ghana secures $3.5 billion in oil and gas investments – Finance minister
The Minister of Finance, Dr Cassiel Ato Forson, has disclosed that government’s investor-friendly reforms have attracted over US$3.5 billion in new investment commitments in 2025 to revitalise Ghana’s oil and gas sector. Presenting the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, 2025, Dr Forson said the investments are a clear...
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Cash Waterfall Mechanism boosts ECG revenue by almost 90% – Finance Minister
The Minister of Finance has disclosed that the monthly revenue collection at the nation’s power distributor, the Electricity Company of Ghana (ECG), has increased by about 90% in the first year of the John Dramani Mahama administration. Speaking on the floor of Parliament on Thursday, November 13, 2025, during the presentation of the 2026 Budget...
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GNPC to begin Voltain Basin drilling in October 2026 – Minister of Finance
The Minister of Finance, Dr Cassiel Ato Forson, has announced that the government is positioning the Ghana National Petroleum Corporation (GNPC) at the centre of a major national effort to revive the country’s declining oil production. According to him, GNPC will commence drilling for oil in the offshore Voltain Basin in October 2026, a move...
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Iran Seizes Oil Tanker in Gulf of Oman
Iran seized on Friday an oil tanker en route to Singapore after it passed the critical Strait of Hormuz in the Middle East in the first major escalation of the tensions in the region since the Iran-Israel war in June. The Marshall Islands-flagged oil tanker Talara was seized by Iranian forces in the Gulf of...