Motorists across Ghana are facing steep increases at the pump as the second fuel pricing window for July 2025 takes effect. The hike comes on the back of the implementation of a new GH¢1 energy sector levy, popularly referred to as the D-Levy—which came into force on Wednesday, July 16, 2025. A market survey conducted...
Category: News
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Oil Markets Ignore Trump’s Russia Threats
Oil markets have largely ignored Trump’s threats to impose 100% secondary tariffs on any country that buys Russian exports, with prices dropping significantly on Tuesday morning. U.S. President Donald Trump’s threat to choke off Russia’s oil revenue via secondary sanctions would deal a hammer blow to Moscow’s finances, but markets are betting that the risk...
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BP-Eni Joint Venture Finds Gas Offshore Angola
Azule Energy, a joint venture firm between BP and Eni, has made a gas discovery at the Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola. The well was spudded on April 1, 2025 in a water depth of 95 meters, approximately 60 kilometers off the coast. It encountered gas- and...
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Malawi Secures $2.15 Million Boost for Power Interconnection With Tanzania
Malawi has received a significant boost in its quest to end persistent electricity blackouts, following the approval of a USD 2.15 million (approximately MWK 3.6 billion) grant for the Tanzania-Malawi (TAMA) Electricity Interconnector Project. The funding, approved by the Multilateral Cooperation Centre for Development Finance (MCDF), will be used to update the feasibility and Environmental...
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Sahara Energy Secures $225m Loan to Drive Global Expansion, Sustainability.14 July 2025(Abuja)
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...
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Oil steadies near three-week high on signs of tighter supplyBy Enes TunagurJuly 14, 20251:54 PM GMTUpdated 3 hours ago
LONDON, July 14 (Reuters) – Oil prices steadied on Monday, holding close to their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while tariff uncertainty weighed.Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while U.S. West Texas Intermediate...
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President Names New Governing Board for Ghana Investment Promotion Centre (GIPC)
Accra, Ghana – July 14, 2025 – In line with the GIPC Act and after consultations with the Council of State, President H.E. John Dramani Mahama has appointed a new 10-member Governing Board for the Ghana Investment Promotion Centre (GIPC) to guide its strategic direction and boost its role in fostering economic growth and investment...
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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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Transport Operators Reject GH₵1 Fuel Levy, Demand Immediate Suspension and Transparent Dialogue
The Coalition of Commercial Transport Operators, representing over 90% of commercial drivers nationwide, has strongly opposed the recently announced GH₵1 levy on every litre of fuel purchased. In a press statement, the Coalition described the levy as “retrogressive and insensitive,” criticising its implementation without proper consultation with key stakeholders in the transport sector. They argue...