Petroleum Economist and Political Risk Analyst, Dr Theo Acheampong, has cautioned that Ghana risks falling behind emerging African oil producers such as Namibia and Senegal if structural and governance challenges within the petroleum sector are not urgently addressed. Speaking during the NorvanReports Economic Governance Platform and Ghana Anti-Corruption Coalition (GACC) X Space Discussion on the...
Category: Oil and Gas
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Dangote Refinery Expansion Set to Transform West Africa’s Fuel Market
Dangote Petroleum Refinery and Petrochemicals has announced a major expansion of its refining capacity from 650,000 barrels per day to 1.4 million barrels per day — a development expected to reshape Nigeria’s downstream petroleum landscape and regional supply dynamics. The announcement was made in Lagos on Sunday, October 26, 2025, during a world press conference...
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CEMSE Advocates Tolling Model as Sustainable Path to Reviving Tema Oil Refinery
The Centre for Environmental Management and Sustainable Energy (CEMSE) has called for a pragmatic, partnership-driven approach to reviving the Tema Oil Refinery (TOR), arguing that a tolling arrangement, rather than an outright sale, presents the most sustainable path to restoring the refinery’s operational and financial viability. In a statement titled “Direct and Action-Oriented: How a...
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Trump greenlights Arctic drilling, reversing Biden’s Alaska oil ban
(Bloomberg) — The Trump administration is opening the entire coastal plain of Alaska’s Arctic National Wildlife Refuge to oil and gas leasing, reversing a Biden administration decision that put the pristine wilderness area off limits.Interior Secretary Doug Burgum said Thursday the agency was opening the 1.56 million acre of tundra on the state’s North Slope...
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Lower U.S. tariffs to offset India’s shift from Russian oil- Nomura
(Bloomberg) – India’s shift away from discounted Russian crude should be more than offset by gains from likely lower U.S. tariffs, Nomura Holdings Inc. said Friday.U.S. President Donald Trump has been repeatedly asking India to halt purchase of Russian oil, and economists Sonal Varma and Aurodeep Nandi say the shift could pave the way for...
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Guyana among few countries in the world where investments in O&G exploration remain robust
While global oil and gas exploration has slowed dramatically over the past decade, Guyana stands as one of the few nations bucking the trend. According to Palzor Shenga, Vice President – Upstream Research at Rystad Energy, the South American country remains a leading light in an industry that has seen annual discoveries fall sharply worldwide.“Annual...
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Ghana Channels All Oil Revenues into Infrastructure Under Amended Petroleum Law
Ghana has overhauled its petroleum revenue management system, directing all discretionary oil funds exclusively into infrastructure projects under sweeping amendments to the Petroleum Revenue Management Act (PRMA) signed by President John Dramani Mahama in April 2025. The changes mark a major policy shift in how the country deploys its petroleum wealth, with 100 percent of...
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Policy Inconsistencies, Underinvestment Undermining Ghana’s Oil Revenue Growth – Prof Lord Mensah
Financial Economist and Head of Local Government Services, Professor Lord Mensah, has attributed the steady decline in Ghana’s oil revenue to years of inconsistent fiscal and investment policies in the petroleum sector, cautioning that the country is now “paying for its past policy indecisions.” Speaking on the NorvanReports, Economic Governance Platform and Ghana Anti-Corruption Coalition...
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Ghana’s Current Crude Output Far Below Projected 500,000 bpd – Dr Theo Acheampong
Ghana, according to Petroleum Economist and Political Risk Analyst, Dr Theo Acheampong, should by now be producing at least 500,000 barrels of crude oil per day (bpd) — a target set in the early years of the country’s oil exploration. However, the current daily production level of about 125,000 barrels per day falls significantly short...
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Platts to launch new freight assessments for Guyana-Europe oil shipments
Platts, part of S&P Global Commodity Insights, has announced plans to introduce new Suezmax 130,000-mt dirty tanker freight assessments for crude oil shipments from Guyana to Europe, effective December 1.The new assessments will cover two routes: Guyana to the United Kingdom and Guyana to the Mediterranean, reflecting what Platts described as the “growing crude trade...