The Public Interest and Accountability Committee (PIAC), the statutory body mandated to monitor petroleum revenue management, has seen its operations stall after the government scrapped its dedicated share of petroleum revenue funding. Seven months into 2025, PIAC has conducted only one regional engagement in the Ashanti Region and two oil-funded project inspections in the Northern...
Category: News
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Mitsui & Co. Eyes Strategic Investment in Ghana’s Emerging Petroleum Hub
Japanese multinational trading and investment giant, Mitsui & Co. Ltd., has signaled strong interest in participating in Ghana’s ambitious Petroleum Hub development. A senior Mitsui delegation led by Junji Fukuoka, Managing Officer and Chief Operating Officer of the company’s Basic Materials Business Unit held high-level discussions with Dr. Toni Aubynn, Acting Chief Executive Officer of...
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Oil rises on Red Sea attacks, copper tariff concerns, lower US production
LONDON, July 9 (Reuters) – Oil prices climbed on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the Red Sea, along with concerns over steep U.S. tariffs on copper and a forecast for lower U.S. oil production. Brent crude futures gained 48 cents, or 0.7%, to $70.63 a barrel...
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Eni Ghana and partners submit Plan of Development for Eban-Akoma Discoveries to Government
Eni Ghana and its Joint Venture (JV) partners have formally declared the commercial potential of the Eban-Akoma hydrocarbon discoveries located in the Cape Three Points Block 4 (CTP-B4) offshore Ghana. This move marks a pivotal advancement toward full-scale development of the oil and gas fields. The Declaration of Commerciality, officially submitted on July 3, 2025,...
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Viewpoint: Strategic coalitions in nuclear business
Eni Ghana and its Joint Venture (JV) partners have formally declared the commercial potential of the Eban-Akoma hydrocarbon discoveries located in the Cape Three Points Block 4 (CTP-B4) offshore Ghana. This move marks a pivotal advancement toward full-scale development of the oil and gas fields. The Declaration of Commerciality, officially submitted on July 3, 2025,...
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Dangote Refinery to Rely Fully on Nigerian Crude by End of 2025, Company Says
Lagos, Nigeria — The $20 billion Dangote Refinery, Africa’s largest oil refining complex, is set to run entirely on Nigerian crude oil by the close of 2025, marking a critical shift toward domestic energy self-reliance for Africa’s biggest oil producer. According to Devakumar Edwin, Executive Vice President of Dangote Industries, the 650,000-barrel-per-day refinery owned by...
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Ghana’s Energy Minister Announces Temporary Nationwide Power Disruption on July 13 Due to ENI Gas System Upgrade
Ghana’s Minister for Energy and Green Transition, John Abdullai Jinapor, has announced a scheduled power interruption across the country on Sunday, July 13, as Italian energy giant ENI undertakes critical maintenance on its gas infrastructure. The temporary shutdown, which will involve ENI turning off its gas valves, is part of ongoing efforts to boost the...
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PHDC and UKGCC Strengthen Strategic Collaboration to Advance Ghana’s Petroleum Hub Vision
The Petroleum Hub Development Corporation (PHDC) and the UK-Ghana Chamber of Commerce (UKGCC) have reaffirmed their commitment to a strategic partnership aimed at driving the successful realization of Ghana’s Petroleum Hub—an ambitious project set to transform the country into a regional energy and petrochemical powerhouse. The renewed pledge was made during a courtesy visit by...
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Springfield Refutes Petraco Allegations, Labels Claims “False and Misleading”
Springfield Exploration and Production Limited (SEP) has firmly denied allegations made by Petraco Oil Company SA, describing them as “false, unfounded, and without merit.” The accusations surfaced after Petraco filed a petition with the Economic and Organised Crime Office (EOCO), prompting widespread media attention. However, Springfield insists the matter is purely a commercial dispute currently...
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Underwater turbine spinning for 6 years off Scotland’s coast is a breakthrough for tidal energy
Submerged in about 40 meters (44 yards) of water off Scotland’s coast, a turbine has been spinning for more than six years to harness the power of ocean tides for electricity — a durability mark that demonstrates the technology’s commercial viability. Keeping a large, or grid-scale, turbine in place in the harsh sea environment that...