Ghana’s 24-hour economy policy aims to transform the nation into a round-the-clock hub for industry, commerce, and services, boosting productivity and economic growth. However, this ambitious vision depends on reliable and sustainable electricity supply. The feasibility of the program depends on electricity demand and supply, as the policy is a manufacturing-led initiative involving agro-processing and industrial parks across...
Category: Energy
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Oil rises on Red Sea attacks, copper tariff concerns, lower US production
LONDON, July 9 (Reuters) – Oil prices climbed on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the Red Sea, along with concerns over steep U.S. tariffs on copper and a forecast for lower U.S. oil production. Brent crude futures gained 48 cents, or 0.7%, to $70.63 a barrel...
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Ghana’s Energy Minister Announces Temporary Nationwide Power Disruption on July 13 Due to ENI Gas System Upgrade
Ghana’s Minister for Energy and Green Transition, John Abdullai Jinapor, has announced a scheduled power interruption across the country on Sunday, July 13, as Italian energy giant ENI undertakes critical maintenance on its gas infrastructure. The temporary shutdown, which will involve ENI turning off its gas valves, is part of ongoing efforts to boost the...
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PHDC and UKGCC Strengthen Strategic Collaboration to Advance Ghana’s Petroleum Hub Vision
The Petroleum Hub Development Corporation (PHDC) and the UK-Ghana Chamber of Commerce (UKGCC) have reaffirmed their commitment to a strategic partnership aimed at driving the successful realization of Ghana’s Petroleum Hub—an ambitious project set to transform the country into a regional energy and petrochemical powerhouse. The renewed pledge was made during a courtesy visit by...
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Oil exploration drives Namibia’s foreign investment to N$13.9 billion
Ongoing oil exploration and appraisal activities have propelled Namibia’s net foreign direct investment (FDI) to N$13.9 billion in the first quarter of 2025, according to the Bank of Namibia. The surge represents a 28.8% increase from the previous quarter and a 14.5% rise year on year, underscoring the impact of sustained activity in the country’s...
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Nigeria Togo Owe Over $11 Million in Q1 2025 Electricity Debt
In the first quarter of 2025, Benin and Togo accumulated more than $11 million in unpaid electricity bills to Nigeria, according to the Nigerian Electricity Regulatory Commission (NERC). Out of a total $17.24 million billed to six international customers, only $5.8 million was recovered, representing a collection rate of just 34%. While Niger Republic fully paid its invoice of $3.03 million,...
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U.S. Department of Energy Warns Risk of Blackouts Is Rising
The U.S. Department of Energy has warned that blackouts could increase substantially in the coming years unless more baseload capacity is added to the grid. The department issued its warning in a report that said the premature retirement of generation capacity and the delay in replacing that capacity with new baseload facilities had created a mismatch between...
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GMP expresses concern over misleading media reports based on spurious petition
Accra, Ghana – 7th July 2025 – GMP has taken note of several recent media reports that appear to be based on a petition allegedly submitted by Petraco Energies DMCC to the Economic and Organised Crime Office (EOCO). These reports repeat claims that are not only inaccurate but also misleading and damaging, creating an unfortunate...
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Brazil and China energy agreements include uranium focus
Brazil’s Ministry of Mines and Energy and China General Nuclear Power Group have signed a letter of intent to cooperate on energy transition efforts, sustainability “and the peaceful and sustainable use of nuclear mineral resources in Brazil”. The agreement was signed during the BRICS summit being held in Brazil and was part of a wider...
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Underwater turbine spinning for 6 years off Scotland’s coast is a breakthrough for tidal energy
Submerged in about 40 meters (44 yards) of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh sea environment that...