The Chamber of Petroleum Consumers (COPEC) is urging the government to establish a Special Petroleum Fund aimed at cushioning consumers against future fuel price volatility. According to the chamber, the fund would enable the country to strategically import and store petroleum products when global prices dip, and release them onto the market whenever prices surge....
Category: News
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Govt to overhaul NPA Act as energy transition accelerates
Government says it is undertaking comprehensive regulatory reviews in the downstream petroleum sector, including moves to introduce a new National Petroleum Authority (NPA) Act to align the industry with current market realities. Energy and Green Transition Minister John Jinapor explains that the reforms are essential as global energy systems shift toward renewables, noting that an...
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Nigeria Launches First Indigenous Crude Oil Terminal
Nigeria’s finally getting its own crude oil export terminal, and it’s about time! Located in Otakikpo, Rivers State, this terminal is set to change the game in the oil and gas sector. For years, we’ve been relying on foreign-built terminals, but now we can proudly say we have our own. The terminal, built by Green...
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Africa’s flaring problem is less waste and more watts.
Lagos — In 2024, Africa flared nearly 40 billion cubic metres (BCM) of gas, with Nigeria, Algeria and Libya as the largest contributors. This volume represents more than 25% of global flaring and is nearly the equivalent of Africa’s entire annual gas consumption. This data, from the World Bank’s Global Gas Flaring Tracker 2024, also...
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ASEC flags four major loopholes in 2026 Budget, warns of risks to economic stability
The Africa Sustainable Energy Centre (ASEC) has raised serious concerns about Ghana’s 2026 Budget, warning that despite the country’s recent macroeconomic progress, the energy sector remains burdened by long-standing structural weaknesses that threaten fiscal stability.The concerns follow ASEC’s detailed review of the Budget Statement and Economic Policy presented to Parliament by the Minister for Finance,...
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COMAC says Fuel Prices Expected to Rise as Global Crude Oil Costs Increase
The Chamber of Oil Marketing Companies COMAC says Crude oil prices recorded a modest rise in mid-November 2025, a development expected to ease the cedi’s recent gains in the forex market. According to COMACs monthly pricing report, International benchmark prices increased by 2.95%, moving from $62.82 to $64.67 per barrel. Data from the petroleum market...
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2026 Budget: Ghana secures $3.5 billion in oil and gas investments – Finance minister
The Minister of Finance, Dr Cassiel Ato Forson, has disclosed that government’s investor-friendly reforms have attracted over US$3.5 billion in new investment commitments in 2025 to revitalise Ghana’s oil and gas sector. Presenting the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, 2025, Dr Forson said the investments are a clear...
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Cash Waterfall Mechanism boosts ECG revenue by almost 90% – Finance Minister
The Minister of Finance has disclosed that the monthly revenue collection at the nation’s power distributor, the Electricity Company of Ghana (ECG), has increased by about 90% in the first year of the John Dramani Mahama administration. Speaking on the floor of Parliament on Thursday, November 13, 2025, during the presentation of the 2026 Budget...
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GNPC to begin Voltain Basin drilling in October 2026 – Minister of Finance
The Minister of Finance, Dr Cassiel Ato Forson, has announced that the government is positioning the Ghana National Petroleum Corporation (GNPC) at the centre of a major national effort to revive the country’s declining oil production. According to him, GNPC will commence drilling for oil in the offshore Voltain Basin in October 2026, a move...