Sahara Energy Resource Limited has announced the successful closing of a USD 225 million unsecured, committed Revolving Credit Facility (RCF). The facility was significantly oversubscribed, underscoring the confidence of the international financial community in Sahara’s business model, performance, and strategic vision of bringing energy to life responsibly. The new facility is supported by a syndicate...
Category: Energy
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Forex stability offers relief to fuel sector – CBOD
By Joshua Worlasi AMLANU The country’s fuel import sector is seeing signs of stability following a significant improvement in foreign exchange (FX) supply and operational reforms, with Bulk Oil Distribution Companies (BDCs) reporting over US$1 billion in FX inflows in the first half of 2025 alone. The recent forex support stems from closer coordination between...
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Ghana Boosts Gas Supply Following Major ENI Infrastructure Upgrade
Ghana’s Ministry of Energy and Green Transition has announced a successful upgrade to ENI’s gas infrastructure, resulting in an increase in gas output from 245 million standard cubic feet per day (MMscfd) to 270 MMscfd. The Ministry hailed the development as a major step toward strengthening the country’s energy security and advancing its sustainable power...
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Vivo Energy Ghana and McKingtorch Africa Inspire Environmental Stewardship Through Innovative School Engagement
As part of its Green4Clean Schools Renewable Energy Project, Vivo Energy Ghana, the exclusive Shell licensee in the country, has teamed up with McKingtorch Africa, a climate-focused social enterprise and United Way Ghana to engage schoolchildren in environmental sustainability through a practical learning experience. The initiative saw pupils from La Enobal Basic School embark on...
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NNPC Considers Refinery Divestment Amid Mounting Losses and Failed Revamps
Nigeria’s state oil giant, the Nigerian National Petroleum Company (NNPC) Limited, is exploring the option of offloading its long-troubled refineries, despite billions of dollars already sunk into multiple rehabilitation efforts with little success to show. The Group Chief Executive Officer of NNPCL, Bayo Ojulari, disclosed the development during the 9th OPEC International Seminar in Vienna,...
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IMF Flags Ghana’s Soaring \$2.2bn Energy Sector Deficit, Citing Fiscal Risks and Inefficiencies
Ghana’s energy sector financing gap is forecast to reach US\$2.2 billion by the end of 2025 raising alarm over deepening fiscal strain, according to the International Monetary Fund’s (IMF)* latest country report. The widening shortfall is attributed to rising operational losses at the Electricity Company of Ghana (ECG), sluggish electricity tariff adjustments, and increasing power...
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Major breakthrough brings world one step closer to achieving clean energy
We’re one step closer to a cleaner world. In a remarkable advancement, scientists have set a new record in nuclear fusion performance. The breakthrough was achieved at the Wendelstein 7-X reactor, an advanced fusion stellarator located in Germany. Scientists recorded the impressive high triple product — a key metric the number of particles, temperature and...
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Comparing Renewable Energy Subsidies Across Africa
Africa faces a massive energy access gap, with nearly 600 million people lacking electricity. Despite having 60% of the world’s best solar resources, the continent attracted just 2.4% of global renewable energy investments from 2010 to 2020. Renewable energy subsidies are critical to solving this challenge by reducing costs, encouraging private investment, and accelerating adoption....
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Ghana’s Rising Power Demand Signals Urgent Need for Infrastructure Investments-2025 Energy Outlook
Accra, Ghana – July 11, 2025 — Ghana’s electricity demand is climbing steadily, driven by rapid population growth, industrial expansion, and increasing nationwide access to electricity. This trend underscores a pressing need for sustained investment in energy infrastructure, according to the Ghana Energy Outlook Report 2025. The report reveals that total electricity consumption reached 22,410...
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PHDC Welcomes Ecobank Ghana for Strategic Partnership Talks
The Petroleum Hub Development Corporation (PHDC) was pleased to host the leadership of Ecobank Ghana on Thursday, July 10, 2025, for a high-level courtesy visit that signals a growing partnership between the two institutions. This engagement marks a renewed commitment to collaborate on the development of Ghana’s Petroleum Hub Project a transformative initiative aimed at...