Ghana’s crude oil production declined sharply by 25.92 percent year-on-year in the first half of 2025, according to the Public Interest and Accountability Committee (PIAC). The Committee’s 2025 Semi-Annual Report on the management and use of petroleum revenues revealed that total output from the country’s three producing offshore fields — Jubilee, TEN, and Sankofa-Gye Nyame...
Category: Oil and Gas
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ExxonMobil signs Majnoon oil field deal, marking return to Iraq
ExxonMobil signed agreements that lay the groundwork for it to explore Iraq’s giant Majnoon oil field, ending the company’s near two-year hiatus in the country.The Texas oil major has signed heads of agreements with Basra Oil Co. and SOMO, Iraq’s oil marketing company, the nation’s Prime Minister Mohammed Shia Al-Sudani said Wednesday. Goal include developing...
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McDermott, PETROFUND sign agreement to develop Namibia’s oil and gas workforce
McDermott has signed a Memorandum of Understanding (MoU) with the Petroleum Training and Education Fund (PETROFUND) to advance technical training and workforce development in Namibia’s growing oil and gas sector. The partnership will align academic and industrial training with international standards, offering Namibian students, job seekers, and service providers access to education, mentorship, and employment...
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Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start
Uganda’s long-awaited oil refinery project is finally moving closer to reality, with operations expected to commence between the fourth quarter of 2029 and the first quarter of 2030. The project, one of the largest of its kind on the continent, aims to reduce the region’s reliance on imported fuel, strengthen domestic energy security, and position...
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GOIL CEO Engages Planet One Officials on Strategic Roadmap for Deepwater Cape Three Points Project
The Chief Executive Officer of GOIL PLC, Ghana’s leading indigenous oil marketing company, Mr. Edward Abambire Bawa, has held a high-level strategic meeting with executives of Planet One Group, GOIL’s joint venture partner for the Deepwater Cape Three Points (DWCTP) project offshore Ghana. According to Mr. Bawa, the discussions centred on ensuring comprehensive preparedness ahead...
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Star Oil consolidates gains as market leader for half-year – New industry report
Star Oil has consolidated its position as the leader in Ghana’s Oil Marketing industry, according to new industry data for the first half of 2025. The report shows that the company recorded a 41.02% increase in product volumes, reaching 403.3 million litres, thereby overtaking GOIL PLC in market share.Its dominance was anchored in strong performances...
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Gold-for-Oil: All companies went through due diligence from BoG – Kwadwo Poku
Energy expert and New Patriotic Party’s communications team member Kojo Poku has defended the previous NPP government’s Gold-for-Oil programme, asserting that every company was screened and certified. In an interview aired on Joy News on October 4, 2025 Poku noted that all participants in the scheme went through rigorous screening from both the Bank of...
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GOIL Warns Public Against Fake Investment Adverts and Websites
The Ghana Oil Company Limited (GOIL) has issued a strong warning to the public over the circulation of fraudulent advertisements and fake websites falsely linked to the company. In a statement released by its Corporate Affairs Department, GOIL clarified that it has not launched any investment scheme or programme promising returns on shares or fuel...
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Italy’s Eni resumes drilling in offshore area northwest of Libya after five year hiatus
The North African branch of Italian energy company Eni(ENI.MI), opens new tab has resumed its exploration drilling in an offshore area northwest of Libya after a five-year hiatus, the Libyan state-run National Oil Corporation (NOC) said on Sunday.In 2024, Eni and British oil giant BP (BP.L), opens new tab have resumed exploration in Libya after...
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OPEC+ agrees modest oil output hike from November, sources say
OPEC+ will raise oil output from November by 137,000 barrels per day (bpd), the same fairly modest increase as in October, three people close to the matter said on Sunday. The group comprising the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers has increased its oil output targets by more than...