Ghana’s government is moving to acquire an offshore exploration block regarded as one of the country’s most valuable undeveloped deepwater petroleum assets The government of Ghana plans to acquire a valuable offshore exploration block containing significant oil and gas reserves. This asset, identified by Springfield E&P, includes over 1.5 billion barrels of oil and 1.2 […]
Ghana is carrying out a major overhaul of its power system and shifting heavily toward domestic natural gas for electricity generation, consulting firm Deloitte said in a report.
A new report by KPMG and United Nations Development Programme (UNDP) has revealed that Ghana’s crude oil production has plummeted by almost half since its peak, posing significant risks to fiscal stability and energy sector revenues.
The country’s push to revive its dwindling oil fortunes is taking centre stage again as the state prepares to drill its first onshore exploration well in the Voltaian Basin during October 2026
The Africa Sustainable Energy Centre (ASEC) has warned that Ghana’s rapidly declining crude oil production poses an immediate fiscal and economic threat, calling for urgent and strategic interventions to safeguard the country’s petroleum revenues and national energy security.
Tullow Oil plc is working to recover more than $200 million in outstanding payments from the Government of Ghana, a situation placing significant pressure on the London-listed company’s cash flow as it races to refinance its debt structure ahead of a May 2026 bond maturity. The receivables, which include approximately $100 million in gas payments, TEN development debt, and overdue cash calls, stood at over $200 million net to Tullow as of the end of October, according to the company’s November trading update.
The company is addressing outstanding issues including securing payment mechanisms for gas sales and an updated plan of development for the Jubilee oilfield.
The Government’s decision to lead discussions that could result in the acquisition of Springfield Exploration and Production Limited’s (SEP) interest in the West Cape Three Points Block 2 (WCTP 2) has generated widespread debate across the energy sector and the broader public space.
The government will take bold and forward-looking steps to ensure that Ghana’s petroleum wealth delivers greater value for its people, Finance Minister, Dr Cassiel Ato Forson, has said. To this end, he said an additional qualifying instrument for the investment of the petroleum resources of the Ghana Petroleum Funds (GPFs) would be introduced. The move, […]
Government has reaffirmed its determination to halt the country’s half-decade decline in oil production, announcing more than US$3.5billion in new investment commitments as the national oil company (NOC) prepares to begin offshore drilling in late 2026.