Tullow Oil Plc, the London-listed explorer in which Gabonese-Beninese businessman Samuel Dossou-Aworet owns a major stake, has secured a long-term extension for its Jubilee and TEN field licenses in Ghana. The approvals run through 2040 and come alongside a new gas sales agreement that sets pricing for the remainder of the license period. The company...
Author: Energy Crossroad (Energy Crossroad)
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GNPC Refutes Claims of Withholding Data in Springfield WCTP-2 Valuation Process
The Ghana National Petroleum Corporation (GNPC) has dismissed what it describes as misleading public reports regarding its role in the ongoing controversy surrounding the valuation of Springfield Exploration and Production Ltd.’s interest in the West Cape Three Points Block 2 (WCTP-2). The corporation’s response follows heightened public scrutiny after the Ministry of Energy and Green...
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AOMC to COMAC: Rebrand Sparks New Era of Leadership, Innovation and Industry Impact
The Chamber of Oil Marketing Companies (COMAC), formerly the Association of Oil Marketing Companies (AOMC), was established in 2003 as the umbrella body for petroleum marketing operators in Ghana. Representing Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs), COMAC serves as the collective voice of the downstream petroleum industry, advocating for policies...
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Four Days More to the 9th Ghana Energy Awards
With only four days to go, anticipation is mounting across Ghana’s energy fraternity as preparations near completion for the much-awaited 9th Ghana Energy Awards (GEA). The prestigious industry event is scheduled to take place on Friday, 28th November 2025, at the Labadi Beach Hotel, Accra. Held under the theme “Repositioning the Energy Sector as a...
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“Buying Our Own Block Makes No Sense”, Says ACEP; Warns Gov’t Against Risky Afina Takeover Citing Non-Commercial Data and High Fiscal Exposure
Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has cautioned that government’s plan to assume Springfield Exploration & Production’s interest in the West Cape Three Points Block 2 (WCTP2) — the Afina discovery — represents an “illogical and fiscally dangerous” move given the absence of commercially viable data and Ghana’s limited...
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Why the IEA Now Thinks Oil Demand Will Keep Rising Until 2050
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...
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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...