Port Harcourt refinery bulk petroleum retailers have called on President Bola Tinubu to urgently release funds needed for the completion of repair works at the old Port Harcourt refinery, which has remained shut beyond its scheduled reopening date. Dealers decried the economic hardship they currently face as a result of the prolonged shutdown of the...
Category: Energy
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ENI Reaffirms Commitment to Ghana Amid Strong Government Backing for Energy Sector Growth
Global energy major ENI has reaffirmed its commitment to expanding operations in Ghana, commending the government for creating a stable, transparent, and investor-friendly environment that continues to attract global capital into the energy space. The show of confidence came during a high-level engagement in Accra with Ghana’s Minister for Energy and Green Transition, Hon. John...
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BP exits giant Australian green hydrogen and renewables hubBP has exited the gigantic
BP exits giant Australian green hydrogen and renewables hubBP has exited the gigantic Australian Renewable Energy Hub, which would feature up to 26GW of upstream wind and solar, much of which would have been used produce hydrogen and ammonia. The oil company had first bought a 40.5% operating stake in the project back in 2022,...
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Global Shift Toward Small Modular Reactors Accelerates, with Key Lessons for Africa’s Energy Future
A new report from the OECD Nuclear Energy Agency (NEA) reveals rapid global momentum behind Small Modular Reactors (SMRs) a technology increasingly being recognised as a strategic tool for clean, reliable, and decentralized energy production. The latest edition of the NEA’s SMR Dashboard identifies 127 unique SMR designs worldwide, up from 98 in the previous...
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GRIDCo Staff Receive Training in Renewable Energy Financial Modelling
Tema, GhanaStaff of the Ghana Grid Company Limited (GRIDCo) recently benefited from a comprehensive training programme on the economics and financial modelling of variable renewable energy (VRE) systems, aimed at enhancing the company’s capacity to support Ghana’s clean energy transition. The intensive workshop, held in Tema, was facilitated by energy economist and consultant Dr. Theo...
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Energy Mismanagement: CEMSE Calls for Prosecutions and Reforms
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...
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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