Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has cautioned that government’s plan to assume Springfield Exploration & Production’s interest in the West Cape Three Points Block 2 (WCTP2) — the Afina discovery — represents an “illogical and fiscally dangerous” move given the absence of commercially viable data and Ghana’s limited...
Category: Oil and Gas
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Why the IEA Now Thinks Oil Demand Will Keep Rising Until 2050
The International Energy Agency (IEA) predicted in 2023 that the global peak in oil demand would likely take place by 2030, as governments worldwide introduced plans for a green transition and fossil fuel companies began to diversify their portfolios to include renewable alternatives. However, this month, the IEA has backtracked on this prediction, stating that...
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ACEP Clarifies Stance on Government’s Planned Acquisition of Springfield Oil Block
The Africa Centre for Energy Policy (ACEP) has outlined its position on the government’s intention to acquire Springfield Exploration and Production’s interest in the West Cape Three Points Block 2, emphasising that its concerns centre on governance and legality rather than local content support. In a detailed statement, Executive Director Benjamin Boakye said ACEP has...
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Tullow Oil Maintains 2025 Spending, Cash Flow and Debt Guidance as Ghana Receivables Exceed $200m
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...
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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...