The Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Dr. Riverson Oppong, has underscored the need for proactive risk management in Ghana’s downstream petroleum sector, as the 2026 COMAC Safety Week officially commenced on April 7. Addressing participants at the opening ceremony, Dr. Oppong described the annual event as a critical platform...
Author: Energy Crossroad (Energy Crossroad)
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Energy Minister Signals Possible Review of Fuel Taxes Amid Rising Global Prices
The Minister for Energy and Green Transition, John Abdulai Jinapor, has disclosed that government is engaging the Finance Ministry on a possible review of taxes on petroleum products, including the controversial one-cedi levy. The move follows growing calls for the removal or reduction of fuel-related taxes to cushion consumers against rising pump prices, driven largely...
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CSOs to name and shame BDCs and OMCs engaged in illegal activities in Ghana’s Petroleum Downstream
The Office of the Special Prosecutor (OSP) recently intensified its crackdown on alleged illegal activities within Ghana’s petroleum downstream sector, following coordinated searches at five major fuel depots.The operation led to the seizure of documents and electronic materials as part of an ongoing investigation into the under-declaration of petroleum imports and the falsification of product...
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CBOD CEO Backs 24-Hour Economy Initiative at Petroleum Sector MoU Signing
Dr. Patrick K. Ofori, Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), has endorsed the government’s 24-hour economy initiative, describing it as a strategic move to boost productivity, energy security, and economic growth. Speaking at the signing of a Memorandum of Understanding (MoU) between the petroleum downstream industry and the 24-Hour Economy...
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Oil Prices Plunge Below $100 as Trump Announces Iran Ceasefire
Oil prices plunged below $100 in early Asian trading on Wednesday after President Trump announced a conditional two-week ceasefire agreement with Iran. At the time of writing, WTI had dropped by 13.96% to trade at $97.18, while Brent Crude had fallen to $95.05, down 13.01% on the day. The dramatic selloff came on the back...
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Nigeria Achieves 1.84m Bpd Crude Oil Production in March
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a significant surge in the country’s crude oil output, with production reaching 1.84 million barrels per day (bpd) in March 2026. This performance marks a robust recovery from the 1.48 million bpd recorded in February 2026, signaling a potential end to the operational volatility that has...
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Fuel Tax Cuts Offer Only Short-Term Relief, Risk Worsening Ghana’s Debt — Energy Expert Warns
Legal practitioner and energy expert, Lom Nuku Ahlijah, has cautioned that government interventions to reduce fuel taxes or eliminate levies will provide nothing more than a temporary reprieve for Ghanaian consumers amidst rising global energy costs.While the pressure to cushion the public from the fallout of international conflicts is mounting, such fiscal maneuvers do not...
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Gov’t Clears $1.7bn Energy Debt Owed to IPP
resident John Dramani Mahama has reaffirmed the successful resolution of a staggering $1.7 billion debt overhang within the nation’s power sector, marking a pivotal turning point in Ghana’s quest for energy stability. Speaking at the 2026 Kwahu Business Forum, the President detailed a comprehensive fiscal cleanup that has effectively neutralized the financial “drag” that the...
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Ghana’s President Mahama convenes emergency cabinet meeting over surge in fuel prices
President John Mahama has convened an emergency cabinet meeting to chart immediate policy responses to the sharp rise in fuel prices, as global oil markets react to escalating tensions in the Middle East. Addressing participants at the Kwahu Business Forum on Saturday, April 4, 2026, the President signalled that the government is moving swiftly to...
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COMAC threatens to halt Atuabo LPG deliveries over price gap
The Chamber of LPG Marketing Companies (COMAC) has warned the National Petroleum Authority (NPA) and government officials that Liquified Petroleum Gas (LPG) deliveries from Atuabo may be suspended unless urgent action is taken to close a nearly GH¢1.00/kg price gap with Tema-based suppliers. In a letter directed to the NPA, the Chief Executive Officer (CEO)...