The Chamber of Oil Marketing Companies (COMAC) has forecast a further decline in fuel prices at the pumps in its January market outlook for the start of 2026. According to the report, ex-pump prices of petrol, diesel and liquefied petroleum gas (LPG) are expected to fall consecutively by between 2.40% and 4.80%, 2.42% and 3.77%,...
Month: December 2025
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Legal Green Association commends government and Edmond Kombat for TOR revival
Legal Green Association commends government and Edmond Kombat for TOR revival.In a press release signed by Festus Matey, Leader of the Legal Green Association, and Evans Mawunyo Tsikata, Head of Politics and Elections issued on Monday, December 29, 2025, the association said the revival of TOR after years of inactivity reflects decisive leadership and a...
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TOR restart’s impact on fuel prices hinges on crude sourcing model – ACEP
The effect of the Tema Oil Refinery’s (TOR) return to operations on fuel prices will depend largely on how the facility is run, according to the African Centre for Economic Policy (ACEP).Kodzo Yaotse, ACEP’s Policy Lead for Petroleum and Energy, said TOR’s ability to consistently supply refined products over time will be critical if it...
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National Energy Champions Confirm Participation at Libya Energy & Economic Summit 2026
State-backed energy champions TPAO, MOL Plc. and ORLEN Group will speak at LEES 2026 as Libya accelerates upstream investment and licensing TRIPOLI, Libya, December 29, 2025/ — Senior executives from state-backed and nationally anchored energy companies will participate at the Libya Energy & Economic Summit (LEES) 2026, highlighting the growing role of national energy champions...
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Nigeria Bets on Long Delayed Gas Pipeline to Ignite Industrial Boom
Nigeria’s state oil and gas company is planning to jumpstart an industrial boom in the north of the country thanks to a much-delayed gas pipeline, Reuters has reported, citing the chief executive of the Nigerian National Petroleum Company. “This is not just about energy,” Bashir Ojulari said. “It’s about industrialisation – fertiliser plants, power generation,...
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FG writes off $1.42bn, N5.57tn NNPC debt after reconciliation
The federal government has written off the bulk of legacy debts owed by the Nigerian National Petroleum Company Ltd. (NNPCL) to the federation account, wiping out about $1.42 billion and N5.57 trillion following a reconciliation exercise approved by President Bola Tinubu. The decision, contained in a regulatory document prepared by the Nigerian Upstream Petroleum Regulatory...
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GOIL Honours Long-Serving and Retiring Staff at Durbar and Service Awards Ceremony
The GOIL Staff Durbar, Service Awards and Thanksgiving ceremony was a significant occasion marked by pride, gratitude and reflection, as employees and management gathered to celebrate the company’s collective journey.The event provided an opportunity to recognise and honour long-serving staff who have dedicated between 10 and 30 years of service to the organisation, acknowledging their...
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Sustained financing vital for TOR’s future operations – COPEC
The Chamber of Petroleum Consumers (COPEC) has underscored the need for consistent financial backing to safeguard the long-term operations of the Tema Oil Refinery (TOR). Speaking on Channel One News on Saturday, December 27, COPEC’s Executive Secretary, Duncan Amoah, welcomed the resumption of refining activities at TOR after several years of inactivity, describing it as...
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African Development Fund Approves $23 Million to Boost Clean Energy Access in Somalia
The Board of Directors of the African Development Fund has approved a grants package worth $23.36 million to bring clean and reliable electricity to the city of Bosaso, Somalia. The Rehabilitation and Expansion of Bosaso Power Grid and Strengthening of Energy Sector Institutions project, funded through the African Development Fund ($9.62 million) and the Transition...
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Tema Oil Refinery officially resumes operations
The Tema Oil Refinery (TOR) has restarted crude oil refining operations after several years of inactivity, marking a major step in efforts to revive Ghana’s downstream petroleum sector. The resumption follows the successful completion of extensive Turnaround Maintenance (TAM) works on the refinery’s Crude Distillation Unit (CDU), carried out between August 1 and October 30,...