The Chamber of Petroleum Consumers (COPEC) and the Ghana Private Road Transport Union (GPRTU) are calling on the government to provide clear timelines and transparent accountability measures for the newly announced GH¢1 levy on petroleum products. Set to take effect on July 16, 2025, the levy excluding Liquefied Petroleum Gas (LPG)is aimed at helping to...
Category: News
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High Energy Costs Threaten Viability of 24-Hour Economy – GNCCI CEO Warns
The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye, has raised red flags over Ghana’s high industrial energy costs, warning that they could undermine the successful implementation of the 24-hour economy policy recently launched by the National Democratic Congress (NDC). Speaking on PM Express on a popular TV...
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Renewable Energy Could Save Africa $5 Trillion by 2050 – Report
Emmanuel Aboagye Wiafe A groundbreaking report has revealed that Africa could save up to $5 trillion by fully transitioning to renewable energy by 2050 while dramatically improving energy access, solving persistent power shortages, and creating millions of jobs across the continent. The study, released by Powershift Africa in collaboration with the University of Technology Sydney’s...
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Climate change erodes 84% of Lagos coastline – Report
A report on the state of Lagos housing market has revealed that over 84 per cent of the city’s coastline has receded over the past 50 years due to a combination of unchecked coastal erosion, rising sea levels, and human activities. According to the recent report, Lagos is grappling with climate-induced challenges, particularly coastal erosion,...
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OPEC+ speeds up oil output hikes, adds 548,000 bpd in August
By Alex Lawler, Maha El Dahan, Olesya Astakhova and Ahmad Ghaddar LONDON, July 5 (Reuters) – OPEC+ agreed on Saturday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices jumped – and then retreated – following Israeli and U.S. attacks on Iran. The group, which pumps about half...
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Ghana Declares Commerciality of Offshore Eban-Akoma Oil Discoveries
The Government of Ghana has officially declared significant commerciality for the Eban-Akoma oil and gas discoveries located within the Cape Three Points Block 4 (CTP-B4). This announcement follows the successful completion of the Eban-Akoma Appraisal Program, conducted in line with the Petroleum (Exploration and Production) Act, 2016 (Act 919), and the CTP-B4 Petroleum Agreement. In...
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Iran enacts law suspending cooperation with UN nuclear watchdog
uly 2 (Reuters) – Iranian President Masoud Pezeshkian put into effect on Wednesday a law passed by parliament last week to suspend cooperation with the U.N. nuclear watchdog, the International Atomic Energy Agency, a move the United States called “unacceptable.” Iran has accused the IAEA of siding with Western countries and providing a justification for Israel’s air...
What does Power of US mean for China’s Economy
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