Tullow Oil has maintained its capital expenditure and decommissioning spending guidance for 2025 at approximately US$185 million and US$20 million respectively, with the company projecting steady operational activity across its Ghana assets. The energy firm also upheld its free cash flow forecast of around US$300 million for 2025, based on a realised oil price of...
Category: Oil and Gas
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Ghana Must Decide Whether It Backs Its Own”: INSTEPR’s Kwadwo Poku on the Kevin Okyere Saga
Ghana Must Decide Whether It Backs Its Own”: INSTEPR’s Kwadwo Poku on the Kevin Okyere SagaGhana’s turbulent upstream oil debate took a sharp turn this morning after Kwadwo Poku, Executive Director of the Institute for Energy Policies and Research (INSTEPR), delivered one of the strongest public defences yet of embattled Springfield founder Kevin Okyere. In...
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Government Denies Claims of Plans to Buy Springfield, Assures Public of Transparent Review Process
The Ministry of Energy has dismissed reports suggesting that the Government of Ghana intends to purchase Springfield Exploration and Production Limited, describing the claims as inaccurate and misleading.In a statement issued by the communication directorate, the Ministry clarified that at no point has government—explicitly or implicitly—indicated any intention to acquire Springfield. It stressed that the...
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Nigeria’s 2025 Licensing Round Signals Major Shift Toward Gas-Led Growth
Nigeria’s upcoming 2025 Licensing Round, scheduled to open on December 1, 2025, is being positioned as a pivotal moment in the country’s energy policy—one that moves beyond traditional oil exploration to embrace a gas-focused future.Unlike previous cycles that concentrated largely on oil-rich acreages, the 2025 round places strategic emphasis on gas-bearing blocks, reflecting Nigeria’s evolving...
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OPEC urges accurate coverage of its reports
17 November 2025 – With reference to the Reuters article, dated 13 November 2025, titled ‘Oil extends losses on US inventory build, OPEC forecast shift’, the OPEC Secretariat feels it is important to clarify an inaccurate statement in the story related to the November OPEC Monthly Oil Market Report (MOMR). Referring to OPEC’s MOMR, published on...
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Nigeria Launches First Indigenous Crude Oil Terminal
Nigeria’s finally getting its own crude oil export terminal, and it’s about time! Located in Otakikpo, Rivers State, this terminal is set to change the game in the oil and gas sector. For years, we’ve been relying on foreign-built terminals, but now we can proudly say we have our own. The terminal, built by Green...
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2026 Budget: Ghana secures $3.5 billion in oil and gas investments – Finance minister
The Minister of Finance, Dr Cassiel Ato Forson, has disclosed that government’s investor-friendly reforms have attracted over US$3.5 billion in new investment commitments in 2025 to revitalise Ghana’s oil and gas sector. Presenting the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, 2025, Dr Forson said the investments are a clear...
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Iran Seizes Oil Tanker in Gulf of Oman
Iran seized on Friday an oil tanker en route to Singapore after it passed the critical Strait of Hormuz in the Middle East in the first major escalation of the tensions in the region since the Iran-Israel war in June. The Marshall Islands-flagged oil tanker Talara was seized by Iranian forces in the Gulf of...
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Africa won’t give up its oil and gas — and shouldn’t, argues AEC chief
Africa must embrace renewable energy and forgo exploration of its potentially lucrative gas deposits to stave off climate disaster and bring access to clean energy to the hundreds of millions who lack it, leading experts on the continent have said,” they wrote. This is hardly new. For several years now, wealthy nations and their environmental...
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2026 Budget: CEMSE proposes $100m support for TOR crude purchases
The Centre for Environmental Management and Sustainable Energy (CEMSE) is proposing to the government to allocate $100 million in the upcoming 2026 national budget to support the purchase of crude oil for the Tema Oil Refinery (TOR). The government has already announced plans to restart crude oil refining at TOR by the end of this...