A scathing report by Ghana’s Auditor-General has uncovered deep-rooted financial mismanagement, procurement violations, and operational lapses in the country’s energy sector, with the Electricity Company of Ghana (ECG) implicated in the misapplication of an estimated GH¢18.4 billion. The audit, which reviewed accounts up to December 31, 2024, exposes chronic inefficiencies and governance breakdowns that pose...
Category: Energy
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Gold-for-Oil Was Just a Cash Deal – Finance Minister Discloses
Finance Minister Dr. Cassiel Ato Forson has debunked claims that the much-touted “Gold for Oil” initiative introduced by the previous administration was a true barter arrangement involving the direct exchange of gold for petroleum products. Speaking on JoyNews’ PM Express, Dr. Forson revealed that contrary to public belief, the policy never involved any actual trading...
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Converging Exxon and Chevron operations could spur next mega-merger
LONDON, July 24 (Reuters) – Exxon Mobil and Chevron’s recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces?An $800 billion combination would certainly evoke memories of Standard Oil, the conglomerate John D. Rockefeller created in 1870 that...
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Gov’t Inherited Collapsing Energy Sector with \$1.5bn Annual Deficit – Ato Forson
Finance Minister Dr. Cassiel Ato Forson has revealed that the current administration inherited a critically distressed energy sector, saddled with annual financing deficits exceeding \$1.5 billion. Presenting the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, Dr. Ato Forson described the sector as being in a state of financial hemorrhage, citing unsustainable debt...
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Energy Ministry rejects media reports of aviation fuel shortage at Kotoka International Airport
The Ministry of Energy and Green Transition has rejected claims of a shortage of aviation fuel as reported by some media outfits. A press release signed the Ministry’s spokesperson Richmond Rockson said there is no shortage of ATK and that all airline operations are going on smoothly
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Stratcon Energy and CEO Sue IMANI’s Bright Simons for GHS 22 Million Over Defamation Claims
Stratcon Energy and Trading Ltd, a prominent bulk oil distribution and trading company, together with its Chief Executive Officer, Harry Campbell, has filed a defamation suit against Bright Simons, Vice President of IMANI Africa, at the Accra High Court. The plaintiffs are seeking GHS 22 million in general damages for what they describe as “false,...
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Aviation Fuel Shortage Looms at Kotoka International Airport : Energy Sector Constraints Raise Alarm
Ghana’s aviation sector is bracing for disruptions as energy supply challenges threaten the availability of aviation fuel at Kotoka International Airport (KIA). Airlines have been urged to make advance refuelling arrangements with their fuel service providers as the country grapples with an impending shortfall in Jet A1 fuel. The caution follows growing concern over constrained...
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Beyond ECG: New Report Calls for Structural Reforms to Fix Ghana’s Energy Sector
A new policy report has challenged the narrative that Ghana’s power sector woes stem solely from the Electricity Company of Ghana (ECG), pointing instead to deeper institutional and systemic failures across the energy value chain. Authored by Seth Owusu-Mante for the International Perspective for Policy and Governance (IPPG), the report titled Securing Ghana’s Energy Future:...
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Beyond ECG: New Report Calls for Structural Reforms to Fix Ghana’s Energy Sector
A new policy report has challenged the narrative that Ghana’s power sector woes stem solely from the Electricity Company of Ghana (ECG), pointing instead to deeper institutional and systemic failures across the energy value chain. Authored by Seth Owusu-Mante for the International Perspective for Policy and Governance (IPPG), the report titled Securing Ghana’s Energy Future:...
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Tenaris secures key contracts for Suriname’s first offshore oil project
TotalEnergies has awarded Tenaris a contract to supply casing, tubing, and Rig Direct® services for the GranMorgu project, Suriname’s first major offshore oil development. Tenaris said it will supply around 47,000 tons of casing and tubing featuring TenarisHydril Blue® and Wedge™ Series connections. The supply includes 13 Chrome steel grades and Dopeless® technology, which enhances...