At a press conference held at the Kempinski Hotel today in Accra, the Minister of Trade and Industry, Herbert Krapa, further underscored the commitment to this initiative, announcing that Ghana aims to host a summit that will bring together African ministers, national oil companies, and regulatory bodies.
The Petroleum Hub is expected to ensure that all homes and industries in Ghana have access to reliable, affordable, and environmentally sustainable energy supply while creating 780,000 direct and indirect jobs for Ghanaians.
On clean energy, Mr. Nasir Mohammed disclosed that a “process has commenced to secure a one-million-euro grant from the United Nations Office for Project Services (UNOPS) for a grid feasibility study to increase the uptake of clean energy, following the establishment of the National Energy Transition Framework and Investment Plan.”
Addressing the World Climate Leaders Summit at the official opening at the COP29 on Wednesday [Nov13], President Akufo-Addo stressed that escalating impact of climate change, especially on vulnerable populations, required concerted efforts backed by real action to protect the current and future generations.
Norwegian ocean services provider DeepOcean and Aberdeen-based well management firm Exceed Energy have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services. These will be offered to the decommissioning market globally.
Nigeria has faced challenges in adhering to its OPEC+ quota due to production disruptions caused by underinvestment, theft and vandalism, especially in the Niger Delta region.
Alhaji Bamanga Usman Jada praised the partnership, stating, “We welcome Ultra Capital Energy Limited’s commitment to Nigeria’s oil and gas sector. This collaboration will significantly contribute to the growth and development of the Liberty Oil and Gas Free Zone.”
The Organisation of Petroleum Exporting Countries (OPEC) yesterday lowered the demand forecast for crude oil amid tumbling prices as Nigeria pumped 1.4 million barrels of oil per day in October.
According to the global oil firm, to revamp the oil sector, there should be the introduction of more attractive investor entry cost as well as provision of market reflective signature bonuses for oil blocks during bid rounds.
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