The performance reflects stable global oil prices and adherence to the Petroleum Revenue Management Act, managed by the Bank of Ghana. This revenue stream supports fiscal resilience under President Mahama’s administration amid broader economic recovery efforts.
“In Ghana we have already taken actions to address the recent underperformance at Jubilee, with further optimisation potential identified. We have recommenced drilling and have successfully completed and brought onstream the first of two planned 2025 production wells at Jubilee, with better than expected net pay during drilling,” said Richard Miller, Chief Financial Officer (CFO) and Interim Chief Executive Officer of Tullow Oil.
Madam Hardcastle made the disclosure during a working visit on Friday, August 29, to Zeal Environmental Technologies, a local petroleum services provider, at its Nyankrom plant in the Shama District of the Western Region. She explained that the Petroleum Commission is repositioning Ghana as a competitive investment destination for global oil and gas supermajors, while supporting GNPC to begin operations in the Voltaian Basin.
GreenFaith Ghana, together with KASA Initiative Ghana, collaborated with the Ministry Energy and Green Transition to lead a comprehensive successful engagements with Faith leaders and members of civil society organisations across three key locations in the Western (Takoradi and Ellembelle district) and Central Region (Cape Coast) of Ghana to provide an understanding on Ghana’s frameworks on Energy and Green Transition agenda, how it affects them and the entry points for them especially people faith leaders in these discussions.
Ghana has launched the Green Cooling Project, a bold initiative aimed at cutting emissions and promoting sustainable air conditioning across the country. The project, funded by Switzerland’s KliK Foundation and implemented by GIZ in collaboration with the Environmental Protection Agency (EPA), seeks to make climate-friendly cooling affordable and energy-efficient for households.
“Africa must take charge of its energy future.” With this bold statement, John Abdulai Jinapor, Minister of Energy for the Republic of Ghana, has set the tone for Africa Oil Week (AOW) 2025, the continent’s largest upstream oil and gas event, which will be hosted in Accra from 15th to 18th September 2025 at the Kempinski Hotel Gold Coast City.
Mr Jinapor explained that the investment plan was anchored in the National Energy Transition Framework and the Renewable Energy Master Plan, which implemented impactful initiatives like the smart solar street lighting, installation of electric vehicle superchargers along major highways and an increase in renewable energy capacity to at least 1,400 megawatts.
Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4.
This was captured in the latest Petroleum Investment Report.
These are funds that Ghana has invested from crude oil export revenue, taxes paid by firms operating in Ghana’s oil area, and rental charges to the state since 2010.
Out of that, the country secured $218.62 million from crude oil liftings.
The crude oil lifting took place between January 2025 and March 2025.
The country also got $148.75 million from corporate tax during the first half of 2023.