Accra, Ghana — The newly constituted Board of the Ghana National Petroleum Corporation (GNPC) Foundation has been inaugurated, with a renewed mandate to advance social impact through education, health, and economic empowerment initiatives in oil-producing communities and beyond.The GNPC Foundation, established under the vision of President John Dramani Mahama, continues to play a central role...
Category: News
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Africa Energy Bank Targets $5B Fund to Tackle Continent’s Financing Gap
Cape Town, South Africa — The African Petroleum Producers’ Organization (APPO) and the African Export-Import Bank (Afreximbank) have announced progress on the creation of the $5 billion Africa Energy Bank, an initiative designed to address Africa’s chronic energy financing challenges and expand electricity access for millions. The update was delivered on Monday during a pre-conference...
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Fuel Prices Up Again as OMCs Adjust Pump Rates
Accra: Fuel prices at the pumps have gone up again as more Oil Marketing Companies (OMCs) adjust their rates, effective Tuesday, September 30, 2025. The increases follow earlier projections of a hike from mid-September, driven mainly by exchange rate pressures. Market leader Star Oil announced on social media that petrol is now selling at GH¢13.17...
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OPEC Stresses Investment Needs as Africa’s Energy Demand Surges
Cape Town, South Africa — Officials from the Organization of the Petroleum Exporting Countries (OPEC) have underscored Africa’s growing role in global energy markets, warning that trillions of dollars in investment will be required to balance development with sustainability. Speaking at African Energy Week 2025: Invest in African Energies in Cape Town on Monday, OPEC...
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Equatorial Guinea, ConocoPhillips Seal Landmark Gas Deal Worth $9 Billion
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...
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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...