Nigeria’s downstream petroleum sector is bracing for renewed foreign exchange (FX) pressure after Dangote Petroleum Refinery scrapped its naira-denominated pricing model for petrol, diesel and aviation fuel, replacing it with a dollar-based framework that ties domestic fuel prices directly to exchange rate movements. The change, announced in a notice to marketers and customers dated July...
Author: Justice Amissah (Justice Amissah)
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TOR Records First Profit in a Decade as Refinery Posts GHS1.4 Billion Profit Before Tax in 2025
The Managing Director of the Tema Oil Refinery (TOR), Edmond Kombat, has announced a major financial turnaround for the state-owned refinery, with the company recording its first profit in a decade, at its 18th Annual General Meeting (AGM) held in Accra. Mr. Kombat said TOR posted a profit before tax of GHS1.415 billion for the...
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Africa’s Clean Energy Bias ‘Catches’ Global Attention
United Nations Secretary-General, António Guterres has cast a glaring spotlight on the massive imbalance in international climate finance by criticizing the global community’s failure to invest adequately in Africa’s green transition despite its unparalleled renewable capacity.This sharp critique highlights a persistent institutional bias where capital flows continue to favor developed markets over the regions where...
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SPE Africa and AFRICA ENERGY CHAMBER Sign Strategic Agreement to Advance Technical Excellence Across Africa’s Energy Sector
The African Energy Chamber (AEC) has signed a Memorandum of Understanding (MOU) with the Society of Petroleum Engineers (SPE Africa), marking a significant step toward strengthening technical collaboration, knowledge transfer and innovation across Africa’s energy industry.The agreement formalizes a strategic partnership between one of Africa’s leading energy advocacy organizations and a globally recognized technical authority...
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Pump prices set to rise again with petrol up 3.59%, diesel 1.52% in March window
Consumers should brace for higher fuel costs in the first pricing window of March 2026, as petroleum prices are expected to increase marginally at the pumps. According to the Chamber of Petroleum Consumers (COPEC), “Petroleum prices beginning the 1st window of March 2026, are expected to see some marginal increments across the pumps.” COPEC projects...
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ASEC Calls for Urgent Reform in Ghana’s Petroleum Downstream Following Star Oil’s COMAC Exit
The Africa Sustainable Energy Centre (ASEC) has called for urgent reforms in Ghana’s petroleum downstream sector following the indefinite suspension of Star Oil Limited’s membership from the Chamber of Oil Marketing Companies (COMAC).Star Oil, Ghana’s leading indigenous Oil Marketing Company (OMC), cited unfair representation and a failure to advocate for consumer-friendly policies, particularly the contentious...
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IPGs debt payment: Energy expert urges gov’t to modernize electricity infrastructure to reduce loss
Energy expert and Executive Director of the Centre for Environmental Management and Sustainable Energy, Benjamin Nsiah, has commended the government for taking decisive steps to settle outstanding debts owed to Independent Power Generators (IPGs), describing the initiative as a major boost for Ghana’s energy sector.Speaking on Accra 100.5 FM on Monday, January 12, Mr. Nsiah...
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Benin Offshore Oil Production Resumes After Three Decades
Oil production offshore Benin, Nigeria’s neighbor to the west, is set to begin by the end of January, the field operator said on Monday in what would be the first oil from the redeveloped field after it was shut down in 1998. Akrake Petroleum expects to start production at the Seme Field in Block 1...
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COMAC Raises Alarm Over GRA Enforcement, Warns of Risks to Industry Stability
The Chamber of Oil Marketing Companies (COMAC) has raised concerns over what it describes as ongoing regulatory challenges with the Ghana Revenue Authority (GRA), warning that the issues pose a threat to operational stability and fairness within the petroleum downstream sector.In a press release signed by the industry regulator Dr. Riverson Oppong, the Chamber said...
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AIS Motorcycle Team Backs GOIL Fuels for West African Tour
The AIS Motorcycle Team, an international long-distance riding group, has begun its West African tour after endorsing GOIL fuels, citing their quality and competitive pricing. Renowned for championing adventure riding, road safety, and community-oriented initiatives, the team said GOIL’s reliable and cost-effective fuel offerings played a major role in its decision to partner with the...