As Ghana prepares for a possible state-led takeover of the West Cape Three Points Block 2 (WCTP2), a coalition of international creditors is circling Springfield Exploration & Production Ltd, the current operator, warning that the Government must not proceed without confronting a ballooning web of unpaid obligations. The most forceful warning comes from Stena Drilling...
Category: News
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Africa Energy Bank ready for takeoff as Nigeria checks off obligations as host country – Lokpobiri
Heineken Lokpobiri, Nigeria’s Minister of Petroleum Resources (oil) has announced that the Africa Energy Bank was ready to take off, with the completion of the facility dedicated for its use. Nigeria, in July 2024 was declared winner of the hosting right for the establishment of the bank’s headquarters after it competed with Ghana, Algeria, South...
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Total Energies welcomes Daniel Mayieka as new MD
TotalEnergies has announced the appointment of Daniel Mayieka as its new Managing Director, following the end of tenure for Olufemi Babajide. Mr. Mayieka has 32 years of experience in the oil and gas industry.He has played significant roles in the TotalEnergies subsidiaries in Kenya, Uganda, Liberia, and Paris including serving as a member of the...
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Angola Launches Its First Plant to Process Non-Associated Gas
Angola inaugurated on Thursday its first plant to process non-associated natural gas as the African oil producer looks to develop a standalone gas industry, too. The plant, worth $4 billion, was inaugurated by Angola’s President João Lourenço in the presence of Minerals and Petroleum Minister Diamantino Azevedo. The gas processing facility was built in the...
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Guyana’s Record-Breaking Oil Boom
The tiny South American nation of Guyana, once one of the continent’s poorest countries, recently emerged as a top oil producer. After a swathe of high-quality discoveries in the offshore Stabroek Block, the government in Georgetown finds itself managing one of the world’s largest oil booms. In roughly a decade, Guyana went from its first...
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PHDC and GNPC Promise Strong Collaboration to Unlock Ghana’s Oil & Gas Potential
As part of efforts to strengthen ties with sister agencies in the oil and gas sector, the Petroleum Hub Development Corporation (PHDC) held a strategic meeting with the Ghana National Petroleum Corporation (GNPC) on Wednesday, November 26, 2025.The meeting, which was graced by the Chief Executive Officer of PHDC, Dr Toni Aubynn, and his counterpart...
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ASEC Warns of Looming Fiscal Crisis as It Urges Immediate Action to Reverse Ghana’s Crude Oil Production Decline
The Africa Sustainable Energy Centre (ASEC) has raised alarm over Ghana’s rapidly declining crude oil production, cautioning that the sharp fall in petroleum revenues poses a significant threat to national fiscal stability and energy security. In a statement issued on Monday, ASEC revealed that petroleum revenue dropped by 56% in the first half of 2025,...
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PHDC Engages BOST Energies, TOR in High-Level Talks on Strengthening Energy Sector Collaboration
The Petroleum Hub Development Corporation (PHDC) has held a high-level strategic meeting with the Bulk Oil Storage and Transportation Company Limited (BOST Energies) and the Tema Oil Refinery (TOR) to explore collaboration opportunities aimed at bolstering Ghana’s energy and industrialisation drive. The engagement, which took place on Tuesday, November 25, brought together senior executives from...
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Dangote Contracts Honeywell International for Major Refinery Capacity Upgrade to 1.4 million barrels per day
Dangote Group is pleased to announce that it has entered a strategic partnership with Honeywell International Inc to support the next phase of expansion of the Dangote Petroleum Refinery. This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028,...
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Petrol Imports From Malta Drop By 60% After Dangote Refinery
Nigeria’s imports of refined petroleum products from Malta have plunged by 60 percent in 2024, signalling a shift in the country’s downstream fuel supply dynamics as the Dangote refinery ramps up output. Data from TradeMap show that Nigeria’s imports of Malta petroleum oils and oils obtained from bituminous minerals dropped to approximately $818 million in...