Malabo, Equatorial Guinea — Equatorial Guinea has signed a major Heads of Agreement (HOA) with U.S. energy company ConocoPhillips for the development of offshore Blocks B/4 and EG-27, a move expected to unlock up to $9 billion in investment and strengthen the country’s position as a regional gas hub. The agreement, signed by the Ministry...
Category: News
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MINISTRY OF ENERGY CONFIRMS GHANA RUSSIA NUCLEAR POWER DEAL TO BOOST ENERGY SUPPLY
The Deputy Director in charge of Alternative and Nuclear Energy at the Ministry of Energy and Green Transition Dr. Robert Mawuko Sogbadji, has confirmed that Russia is talking to Ghana about the possible deployment of three floating power units of 100MW each to help enhance the country’s power supply base that could be made available...
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GOIL PLC Wins CIMG Petroleum Company of the Year 2024 – Energy and Extractives Reporters Ghana
The Chartered Institute of Marketing Ghana (CIMG) praised GOIL for delivering high-quality petroleum products and services while meeting the energy sector’s evolving needs in an ethical, safe, and environmentally responsible manner. This year’s award is not the first for GOIL. The company retained its CIMG Hall of Fame status, underscoring its sustained industry leadership and strong...
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Russia, Ghana Explore Floating Nuclear Power Deal to Boost Reliable Electricity Supply
Ghana could soon become the first African country to benefit from Russia’s cutting-edge Floating Nuclear Power Unit (FPU) technology, following ongoing talks between the Russian State Atomic Energy Corporation (Rosatom) and Ghanaian authorities. Rosatom is considering the deployment of two or three FPUs in Ghana, offering the country a flexible, clean, and reliable source of...
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NPA Ramps Up Crackdown on Illegal Fuel Trading Nationwide
The National Petroleum Authority (NPA) has intensified its nationwide campaign against illegal fuel trading, issuing a strong warning to individuals and businesses engaged in such activities to cease immediately or face legal consequences. The Authority stressed that full compliance with regulatory standards is mandatory for all operators in the downstream petroleum sector to ensure fairness,...
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Nigerian Crude Oil Hits $70/barrel Amid Global Tensions
Nigerian crude settled at about $70 per barrel, up from $68 earlier in the week. This is because U.S. crude inventories have recently decreased. Brent crude, which was trading at $69.3 per barrel on September 26, represents a slight monthly increase of 3 per cent. Nigerian blends usually trade at a slight premium to Brent...
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Energy minister cuts sod for 1MW solar plant at Dawhenya
John Abdulai Jinapor, Minister of Energy and Green Transition, has cut the sod for the construction of a 1MW solar power plant at the Dawhenya Irrigation Scheme in the Greater Accra Region to boost agricultural production. The project forms part of the Korean Government–funded Water-Energy-Food Nexus Project (WEFP), being implemented by the Ministry of Energy...
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ECG Cancels Over 200 Contracts in Procurement Clean-Up
The Electricity Company of Ghana (ECG) has terminated 202 contracts deemed questionable, part of a wider effort to overhaul its procurement processes and ease financial pressures on the utility. Acting managing director Julius Kpekpena told Parliament’s Energy Committee that the decision, backed by the board and the Ministry of Energy, followed a review of 347...
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Iran, Russia ink $25 billion deal to construct nuclear power plants
Iran’s foreign minister says agreement to cooperate with IAEA inspectors will be void if snapback sanctions from 2015 nuclear deal are reimposed, as expected, on Saturday night. Iran and Russia signed a $25 billion deal to build nuclear power plants in the Islamic Republic, Iranian state media reported Friday, just hours ahead of the likely...
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RUSSIA AND ETHIOPIA SIGN ACTION PLAN ON NUCLEAR POWER PROJECT
Russia and Ethiopia on Thursday signed a document which calls for the planning and construction of a nuclear power plant in the east African country. An action plan on development and construction of the facility was signed during a nuclear power forum by the Director General of Rosatom, Aleksei Likhachev, and Ashebir Balcha, CEO of...