The recent scrutiny faced by the Electricity Company of Ghana (ECG) before the nation’s Public Accounts Committee has cast a harsh light on a persistent and deeply troubling issue of systematic overspending of public funds and frivolous procurements. While the staggering financial figures rightly provoke public anger, a more insidious narrative that lies beneath the...
Category: News
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VRA targets 1,800 megawatts power to sustain power export gains in five years.
The Volta River Authority (VRA) says it is working to add up to 1,800 megawatts of power to Ghana’s generation capacity over the next five years, as part of efforts to maintain its strong position in the regional power export market. Speaking to Joy Business at the Authority’s Annual Stakeholder Meeting, Board Chairman Jabesh Amissah-Arthur...
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𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗶𝘀 𝗿𝗲𝘀𝗵𝗮𝗽𝗶𝗻𝗴 𝘁𝗵𝗲 𝗴𝗹𝗼𝗯𝗮𝗹 𝗲𝗻𝗲𝗿𝗴𝘆 𝗹𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲, 𝗮𝗻𝗱 𝗔𝗳𝗿𝗶𝗰𝗮 𝗺𝘂𝘀𝘁 𝗻𝗼𝘁 𝗯𝗲 𝗹𝗲𝗳𝘁 𝗯𝗲𝗵𝗶𝗻𝗱.
At the OTL Downstream Development in Africa Ltd. 2025 Energy Week in Lagos Nigeria, the CEO of the Chamber of Bulk Oil Distributors Dr. Patrick Ofori advocated technology, digitization, and AI as key to making energy more accessible, efficient, and sustainable across the continent. He called on African governments to invest in modern energy technologies...
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Ghana’s Oil Production Declines 32% as Government Moves to Restore Investor Confidence
By Isaac Hughes | Western Region Ghana’s oil sector has recorded a sharp decline in output, with production falling by 32 percent — from 71.4 million barrels in 2019 to 48.2 million barrels in 2024. The downturn, experts warn, poses serious challenges to government revenue and foreign exchange earnings, both of which rely heavily on...
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GNPC Reaffirms Commitment to Innovation and Local Capacity in Petroleum Sector
The Acting Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Kwame Ntow Amoah, has underscored the Corporation’s leadership in advancing innovation, research, and local competence within Ghana’s petroleum industry.Delivering remarks at the opening of the 2025 Local Content Conference and Exhibition (LCCE) in Takoradi, Mr. Amoah called for stronger collaboration among policymakers, investors,...
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Libya Announces New Onshore Oil Discovery
Libya’s National Oil Corporation (NOC) said on Tuesday its wholly-owned subsidiary Arabian Gulf Oil Company (ACOGO) has made a new oil discovery in the Ghadames basin in northwestern Libya, close to the Libyan-Algerian border. The discovery was made in well H1-NC4, with daily production estimated at about 4,675 barrels per day of crude oil, and...
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Energy Minister Reaffirms Commitment to Revitalising Ghana’s Upstream Petroleum Sector -LCCE 2025
The Minister of Energy and Green Transition, John Jinapor, has reaffirmed government’s commitment to revamping Ghana’s upstream petroleum sector, pledging bold reforms to attract investment and boost local participation.Speaking at the opening of the 2025 Local Content Conference and Exhibition in Takoradi, the Western Regional capital, Mr. Jinapor said despite recent challenges including a 32...
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US becomes first country to export 10 million tonnes of LNG in single month
The U.S. has become the first country to export 10 million metric tonnes (mmt) of liquefied natural gas in a single month, according to preliminary data from financial firm LSEG. The U.S. exported a record 10.1 mmt of the liquid fuel in October, up from a revised figure of 9.1 mmt in September, LSEG data...
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Oil slips on oversupply concerns, stronger dollar
Oil prices fell over 1% on Tuesday as OPEC+’s decision to pause output hikes in the first quarter next year along with weak manufacturing data and a stronger dollar weighed on the market. Brent crude futures fell 82 cents, or around 1.3%, to $64.07 a barrel by 0905 GMT. U.S. West Texas Intermediate crude was...
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Fuel price cuts reflect economic recovery – COPEC
The Chamber of Petroleum Consumers (COPEC) has lauded the latest round of fuel price reductions across the country, describing the development as a strong signal of improving economic fundamentals.In the first pricing window of November, leading Oil Marketing Company, Star Oil, slashed petrol prices to GH¢11.97 per litre and diesel to GH¢12.47 per litre one...