GOIL PLC delivered a modest increase in profit during the period ended June 30, 2026, but beneath the improvement in headline earnings sits a more complicated financial picture: revenue declined, operating profit weakened, cash generated from operations fell sharply, receivables climbed above GH¢2.65 billion and the petroleum marketer continued to operate with current liabilities exceeding...
Category: Energy
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Ghana’s power sector crisis deepens as IMF reveals $1.4bn loss in 2025
Ghana’s energy sector recorded financial losses of about US$1.4 billion in 2025, equivalent to 1.5 percent of the country’s Gross Domestic Product, as persistent tariff shortfalls, power losses and weak revenue collection continued to strain public finances, the International Monetary Fund (IMF) has said. In its latest Selected Issues Paper, the Fund said the sector’s...
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Jinapor engages NPA over GHS2 diesel price reduction
Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has engaged the National Petroleum Authority (NPA) and other key stakeholders on the implementation of government’s decision to reduce the price of diesel by GHS2 per litre. The intervention follows a directive by President John Dramani Mahama aimed at cushioning consumers from the impact of...
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EPA launches guidelines to curb fugitive methane emissions in Ghana’s petroleum sector
Ghana’s Environmental Protection Authority (EPA) has launched new guidelines aimed at strengthening the monitoring, reporting and mitigation of fugitive methane emissions from oil and gas operations. The Guidelines for Inspection, Monitoring, and Reporting of Fugitive Methane Emissions from Oil and Gas Operations in Ghana were developed in collaboration with the Clean Air Task Force, Climate...
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Energy Chamber Convenes EV Working Group to Advance Import Duty Reforms
Clean Energy Chamber Convenes EV Working Group to Advance Import Duty ReformsThe Ghana Chamber of Clean Energy (GCCE) has convened the inaugural meeting of its Electric Vehicle (EV) Working Group, bringing together leading companies and stakeholders from Ghana’s electric mobility ecosystem to develop a coordinated industry position on reforms to the country’s electric vehicle import...
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Chevron Gives Employees Half-Month Pay Bonus as Oil Price Surge Lifts Earnings
Chevron is awarding most employees a special bonus equivalent to half of their monthly base salary after the US oil major delivered its strongest quarterly earnings in at least six years, highlighting how the surge in crude prices and operational gains are feeding through to both shareholders and workers. Chief Executive Mike Wirth announced the...
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Ghana Reaffirms $12bn First Phase of Petroleum Hub Project
Ghana’s Petroleum Hub Development Corporation (PHDC), together with Touchstone Capital Partners (TCP) and its international consortium, has reaffirmed progress on the first phase of the Ghana Integrated Petroleum Hub, a development expected to attract approximately US$12 billion in investment under Lot 1 of the project.The confirmation reinforces government’s ambition to establish the country as a...
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Genser Energy buys out investor as Oppenheimer exits after five years
Genser Energy has bought back the entire stake held by Oppenheimer Partners, completing the investment firm’s exit after five years and marking a new chapter in the Ghanaian energy company’s regional expansion strategy. The privately owned energy infrastructure company has announced that it has redeemed the full shareholding previously held by OP Energy Holdings Limited,...
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Reports of daily fuel price changes are inaccurate – CBOD
Dr. Patrick Kwaku Ofori, Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), has dismissed reports suggesting that Ghana is set to introduce daily fuel price adjustments, insisting that the country’s current bi-weekly pricing system remains in force.His comments come amid growing public speculation that heightened volatility in global petroleum markets could prompt...
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GH¢2 diesel subsidy will cushion consumers amid global fuel market volatility – COMAC
Chief Executive of the Chamber of Oil Marketing Companies (COMAC), Dr Riverson Oppong, has welcomed the government’s GH¢2 per litre diesel subsidy. He described it as a timely intervention to cushion consumers and operators as volatility in the global oil market continues to drive uncertainty in fuel prices. Speaking on Joy FM’s Top Story on...