The Bulk Oil Storage and Transportation Company (BOST) closed 2024 with one of its strongest performances to date, nearly doubling profit after tax on the back of tighter cost controls, improved asset utilization, and a significantly stronger capital base. Profitability Metrics Profit after tax rose to GHS 398 million in 2024, up from GHS 208...
Category: News
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Dangote to Build $2.5 Billion Fertiliser Facility in Ethiopia
Ethiopia has entered into a partnership with Nigeria’s Dangote Group to establish a $2.5 billion fertiliser plant, Prime Minister Abiy Ahmed announced Thursday on X. The facility, to be built in Gode, southeastern Ethiopia, will have an annual production capacity of 3 million metric tons.The project is part of billionaire Aliko Dangote’s broader push to...
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GNPC Set to Begin Drilling in the Voltain Basin by Early 2026
The Ghana National Petroleum Corporation (GNPC) is expected to commence exploratory drilling in the Voltain Basin by the first quarter of 2026, marking a major step in Ghana’s bid to expand its petroleum resource base. Speaking during an interview in Accra, the Acting Chief Executive Officer of the Petroleum Commission, Victoria Emeafa Hardcastle, disclosed that...
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Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices
The prices of petroleum products at the pumps are set to increase from Monday, September 1, 2025, by margins of between 3% and 5% per litre, according to the Chamber of Oil Marketing Companies’ (COMAC) pricing outlook report. The report indicates that petrol will rise between 3.86% and 5.40% per litre, pushing the average pump...
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Africa risks missing 2030 SDG deadline without climate laws – AASuP
The President of the Association of African Sustainability Practitioners (AASuP), Humphrey Tetteh, has expressed concern about Africa’s slow progress in achieving the United Nations Sustainable Development Goals (UNSDGs). He said out of the 32 areas outlined by the UN, Africa has only made notable progress in three, with others either stagnating or regressing. Speaking to...
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Ghana Launches Renewable Energy and Green Transition Fund to Drive Sustainable Future
Ghana has introduced a new Renewable Energy and Green Transition Fund as part of efforts to fast-track the country’s energy transition agenda. Speaking at the Future of Energy Conference 2025 in Accra, the Minister for Energy and Green Transition, John Jinapor, said the fund will provide vital financial support for renewable energy projects and green...
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Ghana Showcases Petroleum Hub Project to Singapore Investors
The Ghana Investment Promotion Centre (GIPC) has pitched the country’s ambitious Petroleum Hub project to investors in Singapore, positioning it as a game-changing initiative to anchor Ghana as a key player in Africa’s downstream energy sector. At the Singapore-Ghana Dialogue, held on the sidelines of the Africa-Singapore Business Forum on Thursday, August 28, 2025, GIPC...
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Ghana Gas dismisses claims of failed Atuabo shutdown, says plant back online:
Ghana National Gas Limited Company (GNGLC) has dismissed reports circulating on social and traditional media suggesting that the planned maintenance shutdown of the Atuabo Gas Processing Plant was unsuccessful.In a statement signed by Head ofCorporate Affairs, Richard Ernest Kirk-Mensah, the company described the claims as false and misleading. “The maintenance exercise was successfully completed ahead...
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Why high energy costs could soon impact cement prices.
In recent months, the conversation around the cost of living has been dominated by fuel price hikes and higher electricity tariffs, and the cement industry is not immune to it. Cement production is one of the most energy-intensive manufacturing processes in the country, and every increase in power or fuel costs adds weight to an...
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African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice
African sovereign debtors in distress face terrible choices. They are often forced to choose between fully paying their creditors and financing the needs of their populations – health, education, renewable energy, water. Discussions with their creditors focus on financial, economic and contractual issues. The environmental and social impacts ofthe UN Global Compact the OECD Principles...