With interest rates at 27 percent and inflation easing to 23.5 percent in January, Asiama said better monetary and fiscal policy-coordination should help cool price pressures as the country puts the economic trauma of its 2022 debt default behind it. Africa’s biggest gold producer had to seek a $3 billion bailout from the International Monetary Fund and restructure its debt after defaulting on its obligations.
Tullow Plc Board Chairman, Phuthuma Nhleko, has reaffirmed the company’s strong commitment to the growth of Ghana’s energy sector, highlighting its long-term partnership with the country for close to two decades.
The Bank of Ghana has released its report on the performance of Ghana’s Petroleum Funds for the second half of 2024.
Energy stakeholders from Ghana and Nigeria convened at the Kempinski Hotel in Accra for a high-level engagement meeting last Friday.
This was initiated at the request of Nigeria’s Minister of State for Petroleum Resources, Ekperipe Ekpo.
President John Mahama and the Chief Executive Officer of Eni, Claudio Descalzi engaged in discussions centered around the oil exploration firm’s ongoing contributions to Ghana’s energy sector and its broader economic diversification goals.
The plenary deliberations saw extensive discussions on the nominees’ competence and plans for addressing national challenges.
The report revealed a significant increase in oil revenue and a substantial boost to funding allocations as growth in investments in Ghana’s petroleum funds reached $1.4 billion.
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.