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...
Author: Energy Crossroad (Energy Crossroad)
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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...
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Energy and Green Transition Minister Tours GNPC, Reaffirms Support for Sector Growth
The Minister for Energy and Green Transition, John Abdulai Jinapor, has paid a working visit to the Ghana National Petroleum Corporation (GNPC) as part of his ongoing familiarisation tour of agencies under the ministry. During the visit, the Minister met with the Executive Committee and later addressed staff, where he reiterated government’s commitment to strengthening...
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Solewant Group Showcases Nigeria’s Industrial Capabilities at NUPRC Investment Forum in London
Solewant Group, one of Nigeria’s leading industrial engineering and pipeline coating companies, has reaffirmed its commitment to advancing local content and energy infrastructure development in Africa, following its participation in the NUPRC Project 1MMBOPD Investment Forum held at The Dorchester Hotel in London.The event, organized by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), brought together...
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Ghana Avoids Return to Dumsor After $252m Deal With IPPs – Finance Minister
Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana narrowly avoided a relapse into nationwide power outages after government secured a renegotiated agreement with Independent Power Producers (IPPs), resulting in savings of $252 millionSpeaking on Joy News’ PM Express shortly after presenting the 2026 Budget, Dr. Forson said the administration inherited a tense standoff...
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Government rolls out nationwide street lighting project to power 24-hour economySource: GNA
The government, under the leadership of the Ministry of Energy and Green Transition, has begun the nationwide rehabilitation and installation of modern, energy-efficient streetlights to enhance public safety. It is to boost nighttime economic activities and drive Ghana’s transition toward a greener, more productive 24-hour economy. The project, in partnership with the Greater Accra Regional...