Ghana’s fiscal stability faces heightened pressure, with the World Bank warning that the Electricity Company of Ghana’s (ECG) debt could surge to $9 billion by 2026 if operational inefficiencies are not urgently addressed. World Bank Country Director Robert Taliercio emphasized that ECG’s current debt already exceeds the combined annual financial assistance Ghana receives from both...
Category: News
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NNPCL reduces fuel price after Dangote Refinery’s adjustment
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday. confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945. This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza,...
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bp-Eni venture seeks to fast-track output from Namibia discovery
(Bloomberg) – Azule Energy, a joint venture between bp and Eni, is fast-tracking its Namibia oil operations as it competes with companies including TotalEnergies SE to be among the first to produce crude in one of the world’s newest hotspots. Azule last year negotiated a stake in Namibia’s block 2914A from operator Rhino Resources, and...
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Petrobras wins key regulatory approval to drill near Amazon
Brazil’s state-controlled oil company received permission from regulators to perform emergency response drills near the mouth of the River, a crucial step toward winning approval to explore in a region the company has been pushing to access for years. Petroleo Brasileiro SA is expected to start emergency drills in the Foz do Amazonas basin on...
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Ghana Joins Rosatom’s Arctic Expedition to the North Pole
On 13 August, Rosatom’s sixth international Arctic expedition, Icebreaker of Knowledge, set sail from Murmansk, Russia and this year, Ghana proudly has a seat on board. The voyage, organized by the Atomic Energy Information Centres network with support from Rosatom, celebrates two milestones: the 80th anniversary of Russia’s nuclear industry and the 500th anniversary of...
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African Development Bank and Invest in Africa Allocate $850,000 to Boost Inclusive Green Jobs in Ghana and Senegal
African Development Bank (AfDB) has signed an $850,000 grant agreement with Invest in Africa (IIA). This funding backs the MicroGREEN project aimed at creating up to 500 green job opportunities in agroforestry, fisheries, and biodiversity conservation across Ghana and Senegal. This grant specifically targets inclusive development, focusing on capacity development and value-chain enhancement to help...
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African Development Bank Commits $40 Million to Catalyze the Alliance for Green Infrastructure Project Development Fund Boosting Africa’s Energy Transition
The African Development Bank (AfDB) has taken a decisive step to accelerate the rollout of climate-aligned infrastructure in Africa by committing $40 million to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD). This injection of capital is aimed at turning early-stage concepts into fully bankable green energy and climate-resilient projects across the...
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Africa’s Nuclear Capacity Could Expand Tenfold by 2050 – Report
Africa’s nuclear sector is poised for significant growth, with a new International Atomic Energy Agency report projecting generating capacity could increase tenfold by 2050. Bonface Orucho, bird story agency Despite having just one operational nuclear plant today, a new report projects that Africa’s generating capacity could increase tenfold by 2050. The report, ‘Outlook for Nuclear...
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PHDC Honours ‘Fallen Heroes’ of Helicopter Tragedy
It was a moment heavy with grief and gratitude as the Petroleum Hub Development Corporation (PHDC) gathered at the Jubilee House’s Ceremonial Garden on Wednesday, August 13, 2025, to remember eight public servants who perished in the recent helicopter crash. Acting CEO Dr. Toni Aubynn, alongside Deputy CEO of Finance and Administration Halimatu Sadia Abdulai...
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Jomoro chiefs praise gov’t for commitment to Petroleum Hub project, but seek clarity from Mahama on land size
The Western Nzema Traditional Council (WNTC) has expressed great appreciation and excitement to President Mahama for his call to “expedite” action on the development of the petroleum and petrochemical industry at Jomoro.They are, however, ambivalent about the government’s plan to redesign the 20,000-acre land allocated for the Hub. According to the council, the government’s proposal,...