The Government of Ghana has announced plans to restart crude oil refining operations at the Tema Oil Refinery (TOR) by the end of this year as part of a broader strategy to reduce the country’s annual USD 10.2 billion fuel import bill, stabilize domestic fuel prices, and conserve foreign exchange. Once operational, the refinery is...
Category: News
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World Bank, Energy Ministry Deepen Collaboration on Ghana’s Power Reforms
The Minister of Energy and Green Transition, Hon. John Jinapor, on Monday 10th November received a delegation from the World Bank, led by Dr. Robert Taliercio, at his office in Accra to discuss ongoing reforms and future collaboration in Ghana’s energy sector. The meeting focused on strengthening partnership efforts aimed at improving efficiency, reducing system...
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Clean your house before raising tariffs — Abena Osei-Asare to ECG
Chairperson of Parliament’s Public Accounts Committee (PAC), Abena Osei-Asare, has urged the Electricity Company of Ghana (ECG) to address issues of financial mismanagement before making any further requests for tariff adjustments. Her comments follow deliberations at a PAC sitting that highlighted major discrepancies in ECG’s expenditure, as captured in the 2024 Auditor-General’s Report. The report...
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Welcome to the planet’s newest oil frontier
Off Brazil’s northeastern coast, where the sediment-heavy water of the vast Amazon River tips out into the Atlantic, are two very different types of treasure. The first is an ecological gem: a 3,600 square-mile deepwater coral reef discovered less than a decade ago. The second treasure puts the first in immediate danger. Billions of barrels...
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Energy Minister Engages American Jewish Committee on Clean Energy Collaboration
The Minister of Energy and Green Transition, Hon. John Jinapor, on Monday, November 10, hosted representatives from the American Jewish Committee (AJC) at the Ministry in Accra to explore potential areas of cooperation in Ghana’s energy transition agendaDiscussions centered on clean cooking initiatives, renewable energy deployment, and rural electrification projects aimed at expanding access to...
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African Development Bank Piloting Several Financial Instruments to Support African Countries in Tackling Climate Change
Eight of the 10 countries most affected by climate change are in Africa: droughts, cyclones and floods are compromising agricultural production, exposing populations to food insecurity and climate-induced migration and putting pressure on key sectors critical to the continent’s development, resulting in a significant displacement of public expenditure. Despite a lack of resources, Africa is...
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Trump gives Hungary one-year exemption from Russian energy sanctions
Donald Trump has exempted Hungary from sanctions over its continued purchases of Russian oil and gas for one year, a White House official has confirmed to BBC News. Earlier, the US president said he would consider an opt-out for Hungarian Prime Minister Viktor Orban, a close Trump ally who has maintained good relations with Russia...
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COP30: African Development Bank to Champion Africa’s Push for Climate Finance Reform and Just Energy Transition
Brazilian President Luiz Inácio Lula da Silva on Wednesday received African Development Bank Group President Dr Sidi Ould Tah in Belém, which is hosting this year’s Conference of the Parties (COP30) to the UN Framework Convention on Climate Change. The high-profile meeting between the two leaders signaled a growing Brazil–Africa alliance as the Bank leads...
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Kadijah Amoah urges Africa to tap $250bn pension assets for oil and gas growth
At a time when global appetite for oil investments is shrinking under the weight of the energy transition, Kadijah Amoah, CEO of Pecan Energies Ghana, has issued a bold call for African nations to turn inward and leverage the continent’s own wealth to fund the future of its oil and gas sector. Speaking at the...
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Crude oil to average $60 per barrel in 2026 – World Bank
Crude oil is expected to average $60 per barrel in 2026, the World Bank has revealed in its latest Commodity Markets Outlook. This will be lower than the expected $68 per barrel in 2025, and will be favourable to inflation. According to the report, prices are forecast to fall further in 2026, as oil consumption...