The government has assured the energy sector it is preparing to confront declining investment in upstream petroleum operations, a challenge industry experts warn could threaten national energy security and jeopardize revenues if left unchecked.
The Government of Ghana is considering a State-led takeover of Springfield Exploration and Production Limited’s (SEP) stake in the West Cape Three Points Block 2 (WCTP2) as part of efforts to safeguard declining petroleum assets and boost national oil production.
Ghana’s Energy and Green Transition Minister, John Abdulai Jinapor, says government is taking decisive steps to reverse the sharp decline in oil production and restore investor confidence in the petroleum sector. Speaking at the 2025 Local Content Conference and Exhibition (LCCE) in Takoradi, the Minister announced a series of reforms aimed at “revitalising Ghana’s Petroleum […]
How the cuts will be implemented has not been made clear for the time being, except a statement saying energy intensive industries will be made exempt from certain levies, such as the Renewables Obligation. The mechanism obliges electricity distributors to source part of their electricity from wind and solar installations, per government plans to reduce the country’s reliance on hydrocarbons.
President Nana Addo Dankwa Akufo-Addo has debunked the perception that the government is engaged in a sell-out of petroleum agreements to international investors.
When industry players in Ghana’s energy sector recently gathered under the guidance of the Public Interest and Accountability Committee (PIAC), the stunted nature of the country’s oil production dominated the conversation.