The Government’s push to refine more Ghanaian crude oil locally was partly driven by concerns over potential disruptions in global energy markets arising from escalating geopolitical tensions in the Middle East, according to Energy and Green Transition Minister, Dr. John Abdulai Jinapor.
The government has reiterated its commitment to processing more of Ghana’s natural resources locally, insisting that exporting crude oil while importing finished petroleum products is no longer sustainable for the economy.
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has described the Sentuo Oil Refinery as a strategic national asset that will strengthen Ghana’s industrial base, boost domestic refining capacity, and reduce the country’s dependence on imported petroleum products.
Ghana has begun processing its own Jubilee crude oil domestically for the first time, as one million barrels arrived at the Sentuo Oil Refinery in Tema.
Oil India has confirmed the presence of natural gas at its third exploratory well off the east coast of the Andaman Islands in India.
The auction, held under the Working Families Tax Cuts Act, is the first lease sale since the law’s enactment.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that the 2026 Licensing Round will commence latest by third quarter of 2026 having received the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act.
When the day comes, the reopening of the Strait of Hormuz will be an extraordinary event: restarting about 10,000 oil wells, pumping roughly 15 per cent of the world’s production, that had been shut down for a hundred days and counting. Nothing even remotely close has been attempted – ever.
India can comfortably withstand a disruption in oil supplies through the Strait of Hormuz for about a month and does not expect crude prices to remain elevated for long, Petroleum Minister Hardeep Singh Puri told CNN-News18, citing the country’s fuel inventories, diversified sourcing strategy and expanding energy infrastructure.
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Nigerian independent energy firm, Heirs Energies Limited, has been recognised on the global stage after its landmark $750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility was named the Best Oil & Gas Deal of the Year at the EMEA Finance Project Awards 2026.