Chevron is awarding most employees a special bonus equivalent to half of their monthly base salary after the US oil major delivered its strongest quarterly earnings in at least six years, highlighting how the surge in crude prices and operational gains are feeding through to both shareholders and workers. Chief Executive Mike Wirth announced the...
Category: Oil and Gas
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Ghana Gas Records 97% Rise in Net Profit as Jinapor Urges Focus on Energy Security
The Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has commended Ghana National Gas Company Limited (Ghana Gas) for its strong financial and operational performance in 2025, urging the company to sustain its focus on reliability, infrastructure expansion and long-term growth. Dr Jinapor made the remarks when he addressed the 8th Annual General...
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Mahama Commissions Refurbished TOR Crude Distillation Unit, Commends Management for Turnaround
President John Dramani Mahama has commissioned the refurbished Crude Distillation Unit (CDU) of the Tema Oil Refinery (TOR), describing the development as a major milestone in Ghana’s efforts to revive the state-owned refinery and strengthen domestic petroleum processing. The commissioning coincided with the official receipt of Ghana’s first one-million-barrel cargo of indigenous Jubilee Medium Sweet...
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Dangote Refinery IPO Set to Raise Over N4 Trillion as Investors Anticipate Landmark Public Offer
The forthcoming Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals FZE (DPRP) is expected to be the most significant public offering in Nigeria’s capital market this year, with analysts projecting that billionaire industrialist Aliko Dangote could raise more than N4 trillion when the offer opens in the last quarter of 2026. Market analysts...
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TOR Hails Ga Mantse’s Visionary Leadership in Driving Investment and Economic Transformation
The Acting Chief Executive Officer of Tema Oil Refinery (TOR), Mr. Edmund Kombat, has expressed the profound appreciation of the Board, Management and Staff of the Refinery to His Royal Majesty, the Ga Mantse King Tackie Tsuru for his visionary leadership and unwavering commitment to promoting investment and economic development in Ghana. On Tuesday, the...
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Oil Tycoon Kofi Abban Reportedly Gifts Shatta Wale Luxury Ferrari
Ghanaian businessman and oil entrepreneur Kofi Abban has reportedly gifted award-winning dancehall artiste Shatta Wale a luxury Ferrari, a gesture that has generated widespread attention and admiration across social media. According to reports circulating online, the high-performance sports car was taken from Mr. Abban’s personal garage and presented to the musician. While details surrounding the...
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PETROSOL secures approval to raise capital on GSEPETROSOL
Platinum Energy PLC has announced plans to raise long-term capital through the Ghana Stock Exchange after receiving approval from the Ghana Stock Exchange and the Securities and Exchange Commission, positioning the indigenous energy company for its next phase of expansion. The announcement was made by the Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael...
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Gov’t developing 1,200MW gas power plant to cut electricity costs—Ato Forson
Finance Minister Dr Cassiel Ato Forson has announced that the government is developing a 1,200-megawatt state-owned combined-cycle gas-fired power plant at Kafodzidzi-Abrobeano in the Komenda-Edina-Eguafo-Abrem Municipality to boost electricity generation and lower power costs.Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said feasibility studies have confirmed the project’s viability,...
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Government Bets on Gas to Cut Power Costs, Attract Investment
hana’s energy strategy is undergoing a significant shift as government intensifies efforts to position natural gas, not crude oil, as the cornerstone of the country’s power generation and industrial growth, with new upstream reforms already attracting billions of dollars in investment while laying the groundwork for lower electricity generation costs. The policy direction, outlined by...
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PIAC advises government to involve MMDAs in oil and petroleum-funded projects
he Public Interest and Accountability Committee (PIAC) has called on the government to directly involve Metropolitan, Municipal and District Assemblies (MMDAs) in oil and petroleum-funded projects in their jurisdictions to ensure proper supervision and value for money and holistic development. Speaking to the media after a PIAC project inspection exercise in the Adansi area of...