(Reuters) -Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue. The April-June quarter covered a volatile period in which the OPEC+ group of producers continued raising their production volumes, putting pressure...
Category: Oil and Gas
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Mahama Orders Renegotiation of Land Deal to Fast-Track Petroleum Hub Project in Jomoro
President John Dramani Mahama has announced a major revision to the government’s approach to the Petroleum Hub Development Project in the Jomoro Municipality of the Western Region, aimed at ensuring fair compensation for landowners and accelerating project execution. Speaking at a meeting with the Western Regional House of Chiefs on Wednesday, July 30, 2025, President...
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Ghana to Host Africa Oil Week 2025: A Catalyst for Regional Energy Transformation
Ghana is set to host the prestigious Africa Oil Week (AOW): Investing in African Energy 2025 summit this September, an event expected to serve as a major turning point for the country’s energy ambitions and the wider West African region. The high-level gathering will position Ghana at the heart of continental energy dialogue, investment attraction,...
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Ghana Saves $1.4 Billion from Crude Oil Revenue Since 2010-Latest Report
Ghana has accumulated a total of $1.4 billion in savings since it began commercial crude oil exports, according to the latest Petroleum Investment Report. The amount comprises revenues from oil exports, taxes from petroleum firms operating in Ghana, and rental payments made to the state since the country commenced commercial production in 2010. Fund Performance...
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PHDC Hosts Strategic Talks with International Investor Consortium on Petroleum Hub Development
The Petroleum Hub Development Corporation (PHDC) on Monday, July 28, 2025, held high-level discussions with a consortium of five investment and engineering firms exploring potential collaboration on Ghana’s ambitious Petroleum Hub project. The consortium includes local partner IBS Dolphin Ltd, Egypt-based Gharably Integrated Engineering Co. (GIECO), Worldwide Container Services, an international marketing agency, and a...
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Ghana Rakes in $370.6 Million from Crude Oil in First Half of 2025
Ghana generated $370.62 million in petroleum revenues during the first half of 2025, according to the latest Petroleum Semi-Annual Report released by authorities. The bulk of the earnings $218.62 million came from crude oil liftings conducted between January and March 2025. Additionally, the country received $148.75 million in corporate taxes paid by key industry players...
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NOVA Fuel Launches 18th Filling Station in Walewale, Targets Leadership in Oil Marketing Sector
Ghanaian oil marketing firm NOVA Fuel has inaugurated its 18th fuel filling station in Walewale, located in the North East Region, reinforcing its aggressive nationwide growth strategy aimed at becoming the leading Oil Marketing Company (OMC) in Ghana within the next five years. The newly commissioned station is part of NOVA Fuel’s broader vision to...
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Namibia targets 15% local participation in oil and gas, up from current 10%
Namibia is aiming to raise local content and carried participation in the oil and gas sector from 10 percent to 15 percent by 2030, as the country prepares to leverage its petroleum discoveries for national development. This was announced by Kornelia Shilunga, Special Advisor and Head of the Upstream Petroleum Unit, during her address at...
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Galamsey Threatens Ghana’s Onshore Oil Prospects—GNPC Board Member Warns
Illegal mining activities commonly referred to as galamsey pose a significant threat to Ghana’s plans to develop onshore oil resources, according to Kwame Jantuah, a board member of the Ghana National Petroleum Corporation (GNPC). Speaking on TV3’s New Day programme on Friday, July 25, Mr. Jantuah cautioned that rampant galamsey operations in key exploration zones,...
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BoG Confirms GHS¢2.14bn Loss from Discontinued Gold for Oil Programme
The Bank of Ghana (BoG) has revealed it incurred a total loss of GHS¢2.14 billion under the now-defunct Gold for Oil (G4O) programme, which aimed to stabilise domestic fuel prices and reduce pressure on foreign exchange reserves. This disclosure was contained in an official response to a Right to Information (RTI) request submitted by energy...