The Institute of Economic Affairs is forecasting an increase in the Policy Rate (PR) by 200 basis points to 26.5% when the Governor of the Bank of Ghana announced developments in the Ghanaian economy on Monday November 28, 2022.
Nigeria has posted strong oil profits, with high hopes to continue expanding its fossil fuel industry as oil majors look to Africa to boost their low-carbon operations.
Ghana’s finance minister says the country is at high risk of debt distress as the currency, the cedi, has depreciated against the U.S. dollar, increasing its foreign debt by $6 billion this year alone.
Tullow Ghana has reiterated its commitment to skills transfer and the actualisation of the dream of Ghanaian entities to acquire the requisite capacities to lead oil and gas activities with an organic team from Ghana to ensure rapid national development.
As part of its exploration efforts, Ghana National Petroleum Corporation (GNPC) has acquired and processed over 3,800-Iine km of 2D seismic data from Phase 1 to 3 of the Voltaian Basin Project, the Chief Executive Officer (CEO) of GNPC, Opoku-Ahweneeh Danquah, has revealed
As Europe races ahead with its hydrogen plans, many other parts of the world are looking to develop their own hydrogen markets. But IRENA warns that the expansion of the hydrogen market must be carried out strategically to ensure it supports the transition away from fossil fuels to renewable alternatives.
Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18.
Oil prices fell overnight as the debacle of the Russian Oil Price Cap scheme continues in Europe.
The chief executive officer of the Ghana National Petroleum Corporation (GNPC), Opoku Ahweneeh Danquah has said the national oil company will continue to fully implement local content in its exploration and production (E&P) operations.
As COP27 was progressing in Sharm El-Sheikh, Egypt, Vijay Vaitheeswaran, the global energy and climate innovation editor of The Economist, made a compelling observation. He said, “We will see a much stronger focus on how the energy industry itself can play a role as a decarboniser. It’s about, in my view, a grown-up way of understanding that the oil and gas is here to stay. A number of countries, especially emerging markets, are going to rely on it.”