Parliament on Tuesday, adopted a report for the review of the Petroleum Revenue Management Act, Act 815 to allow government to invest Ghana’s petroleum revenues in areas that deliver maximum earnings.
Ghana’s 2026 budget, spearheaded by President John Mahama, places a strong emphasis on revolutionising the nation’s energy sector. The ambitious plan aims to deliver more reliable, affordable, and sustainable electricity to both businesses and households, creating a bedrock for economic growth and improved living standards. This transformation hinges on strategic shifts in fuel sources, increased domestic gas production, and substantial investments in new infrastructure
This initiative will utilize domestic coal. Projects are expected to commence in FY27. The synthetic gas will power NTPC’s plants and be sold externally. This move supports India’s goal to reduce LNG imports and enhance energy security.
Global oil and gas demand could grow until 2050, the International Energy Agency said today, departing from its previous expectations of a speedy transition to cleaner fuels and predicting that the world will likely fail to achieve climate goals.
In an opinion piece for The Guardian Fiona Harvey and Matthew Taylor wrote that it was time for gas exploration in Africa to stop.
Image: Africa Oil Corp.
“Africa must embrace renewable energy and forgo exploration of its potentially lucrative gas deposits to stave off climate disaster and bring access to clean energy to the hundreds of millions who lack it, leading experts on the continent have said,” they wrote.
United States liquefied natural gas (LNG) producer Venture Global Inc this week announced multiple long-term contracts to supply three Greek, Japanese and Spanish companies.
Baboucarr Njie, Managing Director of the Gambia National Petroleum Corporation (GNPC), will speak at the upcoming MSGBC Oil, Gas&Power 2025 Conference and Exhibition, taking place December 8-10 in Dakar, Senegal. Njie’s participation comes as the country seeks to advance frontier exploration and is expected to strengthen discussions around MSGBC upstream investment opportunities – from seismic data acquisition to frontier drilling to cross-border collaboration and petroleum distribution.
Ghana’s downstream petroleum industry has grown into one of the most competitive and complex fuel markets in Africa. Over the past decade, reforms, private participation, and steady investments have redefined the way petroleum products are sourced, distributed, and sold across the country.
A leading local bank, the Prudential Bank Limited (PBL), has reaffirmed its commitment to supporting Ghana’s upstream oil and gas local-content agenda.
British oil and gas giant Shell said yesterday that it was ending its participation in two offshore wind projects in the North Sea, part of its shift away from alternative energy to focus on its fossil fuels business.