The International Energy Agency (IEA) predicted in 2023 that the global peak in oil demand would likely take place by 2030, as governments worldwide introduced plans for a green transition and fossil fuel companies began to diversify their portfolios to include renewable alternatives. However, this month, the IEA has backtracked on this prediction, stating that...
Author: Energy Crossroad (Energy Crossroad)
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ACEP Clarifies Stance on Government’s Planned Acquisition of Springfield Oil Block
The Africa Centre for Energy Policy (ACEP) has outlined its position on the government’s intention to acquire Springfield Exploration and Production’s interest in the West Cape Three Points Block 2, emphasising that its concerns centre on governance and legality rather than local content support. In a detailed statement, Executive Director Benjamin Boakye said ACEP has...
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PHDC Acting CEO Dr. Tony Aubynn Named “Most Influential Corporate Leader of the Decade”
The Acting Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr. Tony Aubynn, has been honoured with the “Most Influential Corporate Leader of the Decade” Award for his outstanding contribution to national development. The recognition celebrates Dr. Aubynn’s transformative leadership and his impact across multiple sectors, including mining, energy, finance, and sports administration....
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Ghanaian energy mogul Kevin Okyere in talks to sell oil block to state-owned GNPC
Springfield Group, the energy conglomerated founded by Ghanaian energy mogul Kevin Okyere, is in talks to sell its interest in the West Cape Three Points Block 2 (WCTP2) to the state-owned Ghana National Petroleum Corporation. The discussions mark one of the most significant moves in Ghana’s upstream sector in recent years and could allow the...
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Tullow Oil Maintains 2025 Spending, Cash Flow and Debt Guidance as Ghana Receivables Exceed $200m
Tullow Oil has maintained its capital expenditure and decommissioning spending guidance for 2025 at approximately US$185 million and US$20 million respectively, with the company projecting steady operational activity across its Ghana assets. The energy firm also upheld its free cash flow forecast of around US$300 million for 2025, based on a realised oil price of...
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Ghana Must Decide Whether It Backs Its Own”: INSTEPR’s Kwadwo Poku on the Kevin Okyere Saga
Ghana Must Decide Whether It Backs Its Own”: INSTEPR’s Kwadwo Poku on the Kevin Okyere SagaGhana’s turbulent upstream oil debate took a sharp turn this morning after Kwadwo Poku, Executive Director of the Institute for Energy Policies and Research (INSTEPR), delivered one of the strongest public defences yet of embattled Springfield founder Kevin Okyere. In...
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COP30 Drops Draft on Transition Away from Fossil Fuels
The COP30 climate summit is ditching an earlier draft of a roadmap to transition away from fossil fuels, according to the latest draft of negotiating texts at the global gathering in Belem, Brazil.Many countries at COP30 have mobilized and supported a so-called “roadmap” to transition away from fossil fuels. But the latest draft document of...
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Government Denies Claims of Plans to Buy Springfield, Assures Public of Transparent Review Process
The Ministry of Energy has dismissed reports suggesting that the Government of Ghana intends to purchase Springfield Exploration and Production Limited, describing the claims as inaccurate and misleading.In a statement issued by the communication directorate, the Ministry clarified that at no point has government—explicitly or implicitly—indicated any intention to acquire Springfield. It stressed that the...
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Energy Minister Inaugurates Petroleum Hub Development Corporation Board
Energy Minister John Jinapor has inaugurated the new Board of the Petroleum Hub Development Corporation (PHDC), marking a significant step toward advancing government’s vision of establishing a fully integrated petroleum hub for Ghana and the West African sub-region.Speaking at the ceremony, the Minister underscored the strategic importance of the PHDC in strengthening Ghana’s energy ecosystem....
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PHDC Showcases Investment Prospects at UK-Ghana Chamber of Commerce Strategic ForumThe Petroleum Hub Development Corporation (PHDC) has outlined major investment
opportunities within Ghana’s ambitious Petroleum Hub project during a high-level engagement organised by the UK-Ghana Chamber of Commerce (UKGCC) in Accra.Addressing UKGCC executives and business leaders, Mr. George Asante, Business Development Manager at PHDC, delivered a comprehensive presentation on the project’s competitive incentive packages, regulatory advantages, and long-term economic potential. He emphasised that the Petroleum...