Petrol and liquefied petroleum gas (LPG) prices are expected to edge higher from August 16, while diesel will see a slight decline, according to projections from the Chamber of Oil Marketing Companies (COMAC). Pump prices for petrol are forecast to rise between 0.39 and 2.71 per cent per litre, with LPG increasing by as much...
Category: Fuel Price
Post
Post
Russia’s Fuel Exports Plummeted in July
Russian seaborne fuel exports fell by 6.6% in July, primarily due to increased domestic demand and planned refinery maintenance. Recent Ukrainian drone strikes have damaged several Russian refineries, forcing them offline and potentially leading to a further decline in refined product shipments in August.The disruptions to refineries are expected to increase Russia’s crude oil exports...
Post
Chevron appoints Beatrice Bienvenu as Country Manager for Namibia and West Africa
Chevron has appointed Beatrice Bienvenu as its Country Manager for Namibia and West Africa, tasked with leading the company’s exploration activities in the region. Bienvenu recently visited Windhoek in her new capacity, meeting with leadership from the Upstream Petroleum Unit in the Presidency, the National Petroleum Corporation of Namibia (Namcor), the Petroleum Training and Education...
Post
GRTCC Halts 20% Transport Fare Increase After Talks with Transport Ministry.
The Ghana Road Transport Coordinating Council (GRTCC) has suspended its planned 20% increase in public transport fares, following a crucial meeting with the Ministry of Transport on Wednesday, August 6, 2025. The move follows mounting public backlash and criticism over the lack of extensive stakeholder consultations prior to the announcement of the fare adjustment. Earlier,...
Post
Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output
Tullow Oil Plc has reported a loss after tax of $61 million for the first half of 2025, reversing a profit of $196 million recorded in the same period last year, amid declining revenues and lower realised oil prices. Revenue for the period declined sharply to $524 million from $759 million in H1 2024, driven...
Post
Logistical and Infrastructural Constraints in the Ghana’s Petroleum Downstream
Among the many factors that impact the operations and efficiency of Petroleum Service Providers (PSPs) in the Downstream Petroleum Sector of Ghana is inadequate infrastructure. Infrastructure is the backbone of the petroleum sector, especially given the sensitive nature of petroleum products. Although emphasis has always been given to the impact of international price volatilities of...
Post
COPEC Rejects Claims of 20% Public Transport Fare Hike, Urges Stakeholder Dialogue
The Chamber of Petroleum Consumers (COPEC) has dismissed reports suggesting a 20% hike in public transport fares set to take effect on Friday, August 8, 2025. In a press statement released Tuesday, August 5, COPEC clarified that its engagement with key transport unions, including the Ghana Private Road Transport Union (GPRTU), revealed no official confirmation...
Post
GOIL Maintains Fuel Prices for First Pricing Window of August 2025
Accra — August 1, 2025 GOIL PLC has announced that it will maintain existing pump prices for its range of fuel products in the first pricing window of August 2025, offering relief to motorists amid fluctuating global oil market trends. In a public notice issued to consumers, the company confirmed that there will be no...
Post
Shell profit dips as energy prices fall 31st July 2025
British energy giant Shell on Thursday said its net profit slid 23 per cent in the first six months of the year, hit by lower oil and gas prices. Profit after tax dropped to $8.4 billion compared with $10.9 billion in the first half of 2024, Shell said in an earnings statement. Group revenue dropped...
Post
FG eyes N796bn annually from 5% petrol surcharge 31st July 2025
The Federal Government may rake in N796bn annually from the introduction of a five per cent surcharge on locally produced and imported petrol, based on its new tax policy slated to take effect from January 1, 2026, an analysis by The PUNCH has revealed. The five per cent surcharge on refined petroleum products is contained...