The Ghana National Petroleum Corporation (GNPC) and the Petroleum Commission (PC) have signed a Promotion, Marketing and Revenue Sharing Agreement covering all the data acquired under GNPC’s Reconnaissance License on the Voltaian Basin Project. The agreement, formalized at a brief meeting at GNPC’s Training Centre at Mankata Avenue, Accra, provides a framework for the joint...
Category: News
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PIAC Raises Alarm Over Declining Oil Production in Ghana
Ghana’s upstream petroleum sector has recorded its lowest crude oil production levels in five years, according to the Public Interest and Accountability Committee (PIAC). The watchdog also warned that the industry is struggling to attract much-needed investment. Speaking at a media engagement in Tamale on petroleum revenue management, Mr. Richard Ellimah, Chairman of PIAC’s Technical...
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NOGASA denies receiving trucks from Dangote
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) on Friday denied receiving tankers from the Dangote Refinery, insisting the information was false in its entirety. Asked to confirm the receipt of the trucks on phone, its National Public Relations Officer, Chief Chinedu Ukadike, told The Nation that the association is still opposed to...
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ASEC Urges Africa to Accelerate Gas and Renewable Projects Amid Shifting Global Energy Demand
The Africa Sustainable Energy Centre (ASEC) has projected fresh investment opportunities for African gas projects as global demand patterns evolve. The call comes as fourth-quarter LNG exports are expected to decline by nearly 50%, creating new urgency for Africa to strengthen its role in the international gas market. ASEC notes that Europe sees African gas...
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Russia appears to open door for potential Exxon return to Sakhalin-1 project.
Russia’s president Putin has signed a decree to allow foreign investors, including Exxon Mobil (NYSE:XOM), to regain shares in the Sakhalin-1 oil and gas project, Reuters reported Friday. The signing occurred on the same day that Putin met President Trump in Alaska to discuss a potential ceasefire in Ukraine, and possibly on opportunities for investment...
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Namibia urged to fast-track reforms to secure place as Africa’s next energy frontier
Namibia must accelerate legal and institutional reforms to turn its recent oil and gas discoveries into lasting economic benefits, SNC Managing Partner and President of the Association of International Energy Negotiators (AIEN), Shakwa Nyambe, told delegates at the third Namibia Oil and Gas Conference in Windhoek.Delivering a presentation titled Industry Leaders’ Insights under the theme...
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Republicans who backed Trump’s anti-environment bill have accepted over $105m from big oil
The Republican lawmakers who voted for Donald Trump’s anti-environment tax and spending bill have accepted more than $105m in political donations from the fossil fuel industry, a new analysis has found, raising concerns about their relationship with big oil.Signed into law last month, the One Big Beautiful Bill Act includes billions of dollars in giveaways...
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World Bank Warns ECG Debt Could Hit $9bn by 2026, Threatening Ghana’s Fiscal Stability
Ghana’s fiscal stability faces heightened pressure, with the World Bank warning that the Electricity Company of Ghana’s (ECG) debt could surge to $9 billion by 2026 if operational inefficiencies are not urgently addressed. World Bank Country Director Robert Taliercio emphasized that ECG’s current debt already exceeds the combined annual financial assistance Ghana receives from both...
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NNPCL reduces fuel price after Dangote Refinery’s adjustment
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday. confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945. This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza,...
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bp-Eni venture seeks to fast-track output from Namibia discovery
(Bloomberg) – Azule Energy, a joint venture between bp and Eni, is fast-tracking its Namibia oil operations as it competes with companies including TotalEnergies SE to be among the first to produce crude in one of the world’s newest hotspots. Azule last year negotiated a stake in Namibia’s block 2914A from operator Rhino Resources, and...