Ghanaian businesses should consider turning their attention to Guyana, now one of the world’s fastest-growing petroleum frontiers. This comes after Ghanaian-owned Cybele Energy secured a major offshore oil block that could unlock a new wave of international investment opportunities for local firms.Cybele Energy is expected to sign the Production Sharing Agreement for the shallow-water Block...
Category: Oil and Gas
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ACEP Cautions Government Against Direct Oil Production Over GNPC’s $1.5bn Governance Failures
Executive Director of the Africa Centre for Energy Policy (ACEP), Ben Boakye, has cautioned that Ghana should refrain from venturing into state-led oil production, citing severe governance lapses and inefficiencies at the Ghana National Petroleum Corporation (GNPC). Speaking during the NorvanReports, Economic Governance Platform (EGP) and Ghana Anti-Corruption Coalition (GACC) X Space Discussion themed “Beyond...
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Ghanaian company to sign oil exploration agreement with Guyana
Ghanaian-owned energy firm Cybele Energy Ltd is set to make a major stride on the international stage as it prepares to sign an agreement to explore for oil in a shallow-water block in Guyana. The deal, expected to be concluded next Tuesday, December 9, was confirmed by Guyana’s Minister of Natural Resources, Vickram Bharrat, on...
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IET Ghana honours TOR Managing Director for leadership in reviving refinery
The Institute of Engineers & Technology (IET), Ghana has honoured the Managing Director of Tema Oil Refinery (TOR) Ltd., Edmond Kombat Esq., for his exceptional leadership in restoring the country’s premier refinery to productive operation. The recognition was announced at the Institute’s 29th Annual General Meeting and Induction Ceremony held on November 27, 2025, where...
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COMAC Calls for Supply Stabilisation and Pricing Reforms at 2025 National LPG Promotion Forum
At the National LPG Promotion Forum held this week under the theme “One Industry, One Vision: A Collaborative Approach to LPG Sector Transformation,” the Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Dr. Riverson Oppong, delivered a strong message urging government and industry players to take decisive steps to stabilise LPG supply...
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PHDC CEO Highlights Transformational Impact of Petroleum Hub at Planners’ Conference
The Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr. Toni Aubynn, has underscored the transformative economic potential of Ghana’s proposed Petroleum Hub, describing it as a major catalyst for growth and job creation.Speaking on Thursday, November 26, 2025, at the 54th Annual Conference of the Ghana Institute of Planners in Tamale, Dr....
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Springfield’s Unpaid Awards and Rising Liabilities Threaten Ghana’s Planned WCTP2 Takeover
As Ghana prepares for a possible state-led takeover of the West Cape Three Points Block 2 (WCTP2), a coalition of international creditors is circling Springfield Exploration & Production Ltd, the current operator, warning that the Government must not proceed without confronting a ballooning web of unpaid obligations. The most forceful warning comes from Stena Drilling...
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Angola Launches Its First Plant to Process Non-Associated Gas
Angola inaugurated on Thursday its first plant to process non-associated natural gas as the African oil producer looks to develop a standalone gas industry, too. The plant, worth $4 billion, was inaugurated by Angola’s President João Lourenço in the presence of Minerals and Petroleum Minister Diamantino Azevedo. The gas processing facility was built in the...
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PHDC and GNPC Promise Strong Collaboration to Unlock Ghana’s Oil & Gas Potential
As part of efforts to strengthen ties with sister agencies in the oil and gas sector, the Petroleum Hub Development Corporation (PHDC) held a strategic meeting with the Ghana National Petroleum Corporation (GNPC) on Wednesday, November 26, 2025.The meeting, which was graced by the Chief Executive Officer of PHDC, Dr Toni Aubynn, and his counterpart...
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ASEC Warns of Looming Fiscal Crisis as It Urges Immediate Action to Reverse Ghana’s Crude Oil Production Decline
The Africa Sustainable Energy Centre (ASEC) has raised alarm over Ghana’s rapidly declining crude oil production, cautioning that the sharp fall in petroleum revenues poses a significant threat to national fiscal stability and energy security. In a statement issued on Monday, ASEC revealed that petroleum revenue dropped by 56% in the first half of 2025,...