Energy Chamber of Ghana has called for the immediate implementation of mandatory quarterly sovereign petroleum transfer disclosure reports to address a staggering US$561.65 million revenue gap linked to GNPC’s subsidiary, Explorco. This demand comes in response to findings that indicate a significant portion of petroleum revenues failed to reach the Petroleum Holding Fund (PHF), signaling...
Category: Energy
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Fuel price cuts won’t translate instantly – ACEP boss explains why
Executive Director of the Africa Centre for Energy Policy (ACEP), Ben Boakye, has cautioned that recent interventions to stabilise fuel prices will not immediately translate into relief for consumers. Speaking on PM Express Business Edition on Joy News Thursday, on the sidelines of the IMF Spring Meetings in Washington DC, he said the impact of...
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Oil production decline poses long-term threat to fiscal stability
By Kizito CUDJOE The country’s steady decline in oil production is emerging as a long-term threat to fiscal stability, eroding a once-reliable revenue stream and exposing the budget to heightened volatility at a time of tightening economic conditions, a resource governance expert has cautioned. With crude output falling consistently after peaking in 2019 and petroleum...
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Ghana, Pakistan Deepen Energy Ties Following High-Level Meeting
The Minister for Energy and Green Transition, John Jinapor, has held high-level discussions with Pakistan’s Ambassador to Ghana, Najeeb Durrani, aimed at strengthening bilateral cooperation in the energy sector. The meeting, held at the Ministry of Energy and Green Transition, focused on enhancing the longstanding relationship between Ghana and Pakistan, with particular attention to areas...
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Gov’t Moves to Fix Power Distribution Challenges with Major Infrastructure Upgrades – Jinapor
The Minister for Energy and Green Transition, John Abdulai Jinapor, has announced a series of investments and technical interventions aimed at improving the reliability and quality of electricity supply across Ghana, following growing concerns over intermittent outages. In a statement addressing the nation, the Minister acknowledged persistent power disruptions, particularly in Accra and Kumasi, noting...
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Wrong-Way Bets on Oil Had a Star Trader Hundreds of Millions in the Hole
Vitol, one of the world’s largest commodity-trading firms, is among companies hardest hit by the Iran war A team led by a star trader at Vitol, the world’s biggest oil merchant, took a several hundred million dollar hit early in the Iran war after bets in the petroleum market went awry, people familiar with the...
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Energy Minister Hints Possible Shake-up at ECG over Poor ‘Responsiveness’
Hon. John Jinapor, the Minister of Energy and Green Transition, has issued a stern warning to the Electricity Company of Ghana (ECG), signaling a potential leadership and operational restructuring following persistent reports of service lethargy. Addressing stakeholders and staff, the Minister expressed significant dissatisfaction with the current level of responsiveness in various districts, noting that...
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Obsolete Refinery Plants Undermine Fuel Stability; COPEC Boss Calls for Upgrades
Duncan Amoah, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has intensified calls for the government to prioritize technical and strategic investments in the Tema Oil Refinery (TOR) to prevent the nation’s energy security from being compromised by “inefficient, old, and obsolete” infrastructure. He asserts that the current state of the refinery significantly...
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Energy Minister John Jinapor likely to suspend some fuel margins today
Energy Minister John Jinapor is expected to announce a temporary suspension of some margins on petroleum pricing today, in what could bring relief to consumers over the next four weeks. This is what JOYBUSINESS has gathered from persons with knowledge of engagements between the Finance Minister, Cassiel Ato Forson, and the Energy Minister to review...
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Petroleum Hub Project— Solution to Ghana’s Energy Security Crisis
Global crude oil markets are once again on edge as prices decisively surged past the $100 per barrel mark following the sudden collapse of a critical ceasefire agreement. The Petroleum Hub Development Corporation (PHDC) notes that this sharp uptick is driven primarily by the renewed threat of closure for the Strait of Hormuz, the world’s...