Ghana’s Petroleum Funds closed the first half of 2026 with a combined balance of US$1.64 billion, according to the Bank of Ghana’s report on the funds for the period ended June 30, 2026. The report shows that the Ghana Petroleum Funds received total allocations of US$197.13 million during the first half of the year.Citinewsroom –...
Category: Energy
Post
Post
ASEC welcomes 2026 Mid-Year Budget but urges stronger focus on green transition
The Africa Sustainable Energy Centre (ASEC) has welcomed several energy sector interventions announced in the 2026 Mid-Year Budget Review but has urged the government to adopt a more balanced approach that aligns with Ghana’s long-term energy transition and climate goals.In a statement, ASEC said the government’s commitment to strengthening the energy sector has the potential...
Post
Fuel Retailers Break Pricing Cycle as US$100 Oil Rekindles Inflation Fears
Ghana’s downstream petroleum market is beginning to show renewed signs of stress, after major Oil Marketing Companies moved to raise pump prices ahead of the official bi-weekly pricing window, signalling that global oil pressures are beginning to outpace the industry’s normal pricing rhythm. The early price adjustments mark an important shift in market behaviour. In...
Post
Traditional Leaders Laud Gold Fields Ghana Foundation’s Multi-Million-Dollar Road
Projects Traditional leaders and municipal authorities have commended the Gold Fields Ghana Foundation for its significant investment in road infrastructure, describing the projects as transformative interventions that will improve livelihoods and accelerate socio-economic development across host communities.The commendation came during a joint inspection by the Foundation’s Board of Trustees of two major road construction projects...
Post
PETROSOL secures approval to raise capital on GSEPETROSOL
Platinum Energy PLC has announced plans to raise long-term capital through the Ghana Stock Exchange after receiving approval from the Ghana Stock Exchange and the Securities and Exchange Commission, positioning the indigenous energy company for its next phase of expansion. The announcement was made by the Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael...
Post
Gov’t developing 1,200MW gas power plant to cut electricity costs—Ato Forson
Finance Minister Dr Cassiel Ato Forson has announced that the government is developing a 1,200-megawatt state-owned combined-cycle gas-fired power plant at Kafodzidzi-Abrobeano in the Komenda-Edina-Eguafo-Abrem Municipality to boost electricity generation and lower power costs.Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said feasibility studies have confirmed the project’s viability,...
Post
Nigeria faces higher power sector emissions as electricity demand grows, says IEA
Nigeria’s drive to expand electricity supply could lead to higher carbon emissions from the power sector in 2026 unless investment in renewable energy accelerates, according to the latest projections by the International Energy Agency (IEA).In its Electricity Mid-Year Update 2025, the IEA projected that global carbon dioxide (CO₂) emissions from electricity generation will increase by...
Post
Government Bets on Gas to Cut Power Costs, Attract Investment
hana’s energy strategy is undergoing a significant shift as government intensifies efforts to position natural gas, not crude oil, as the cornerstone of the country’s power generation and industrial growth, with new upstream reforms already attracting billions of dollars in investment while laying the groundwork for lower electricity generation costs. The policy direction, outlined by...
Post
PIAC advises government to involve MMDAs in oil and petroleum-funded projects
he Public Interest and Accountability Committee (PIAC) has called on the government to directly involve Metropolitan, Municipal and District Assemblies (MMDAs) in oil and petroleum-funded projects in their jurisdictions to ensure proper supervision and value for money and holistic development. Speaking to the media after a PIAC project inspection exercise in the Adansi area of...
Post
Crude oil nears $100 as renewed Middle East conflict rattles global markets
Global oil prices climbed toward the $ 100-per-barrel mark on Thursday as renewed fighting between the United States and Iran heightened fears of prolonged supply disruptions across the Middle East, sending energy markets sharply higher.Checks by Nairametrics on July 23 showed that Brent crude was trading at $98.47 per barrel, representing a 4.68% increase, while...