He highlighted the financial challenges during his vetting by Parliament’s Appointments Committee on Monday, January 13, 2025.
Ghana’s oil and gas sector holds the keys to a brighter economic future, but the road ahead is littered with challenges—many of them self-inflicted. Institutions like the Ghana National Petroleum Corporation (GNPC), Petroleum Commission (PC), National Petroleum Authority (NPA), and the Tema Oil Refinery (TOR), are critical pillars of the nation’s resource-driven economy. Yet, their potential remains stifled by an Achilles’ heel: political interference.
The ICC Tribunal concluded that the Branch Profit Remittance tax (BPRT) does not apply to Tullow Ghana’s operations under its Petroleum Agreements for the Deepwater Tano and West Cape Three Points blocks, which include the notable Jubilee and TEN fields offshore Ghana.
The price of crude oil globally ended the Year 2024 in the low $70s per barrel. At this price, the government should seize the opportunity to reduce the prices of fuel and reset the economy. The high price of fuel and food has led to high inflation and high cost of living.
The ever-growing Ghanaian supply chain market has driven organisations to increasingly rely on supplier collaborations and partnerships to enhance efficiency, drive innovation, and, most importantly, reduce costs. This trend is particularly pronounced in Ghana’s oil and gas sector, which plays a vital role in the country’s economy.
The African Energy Chamber (AEC) – serving as the voice of the African energy sector – commends the proactive approach by Springfield E&P to unlock new oil and gas assets in Ghana. The company has shown a strong commitment to bringing new fields online and will play an important part in driving oil and gas production in the country.
Ghana’s crude oil output increased by 10.7% year-on-year in the first six months of 2024, reversing an annual production decline that began five years prior, the country’s public interest and accountability committee (PIAC) reported.
Springfield E&P, a wholly-owned Ghanaian upstream petroleum player, has described the result of its recent appraisal of Afina-1x block located offshore, WCTP-2, as positive and impressive
Tullow and the Ghana Forestry Commission have completed all requirements to commence full-scale implementation of a joint nature-based carbon offset project, launched earlier this year.
Dr Oppong believes the influx of OMCs has created a chaotic environment that makes it nearly impossible for regulators to maintain control.