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.
Parliament on Tuesday, adopted a report for the review of the Petroleum Revenue Management Act, Act 815 to allow government to invest Ghana’s petroleum revenues in areas that deliver maximum earnings.
Ghana’s 2026 budget, spearheaded by President John Mahama, places a strong emphasis on revolutionising the nation’s energy sector. The ambitious plan aims to deliver more reliable, affordable, and sustainable electricity to both businesses and households, creating a bedrock for economic growth and improved living standards. This transformation hinges on strategic shifts in fuel sources, increased domestic gas production, and substantial investments in new infrastructure
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, […]
ConocoPhillips has made a natural gas discovery in the Otway Basin off the Australian coast, the company said today, adding that the reserves tapped and their commercial viability have yet to be estimated. “The Essington-1 well is the first discovery in the Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in […]
TotalEnergies is expanding its power business in Europe with a multi-billion all-stock deal to buy 50% of the flexible power generation assets of Czech firm EPH. The French supermajor on Monday announced a $5.9-billion (5.1 billion euros) all-stock transaction with Energetický a pr?myslový holding, a.s. (EPH) to acquire 50% of its flexible power generation platform in Western […]
The international companies part of the deal to restart Kurdistan’s oil exports have seen the lifting of the first cargo from the semi-autonomous Iraqi region for export from the Turkish terminal of Ceyhan since pipeline exports to the Mediterranean port resumed at the end of September. London-listed Gulf Keystone Petroleum confirmed on Monday that a first lifting […]
Chevron is evaluating a potential bid for Lukoil assets placed under pressure following recent U.S. sanctions, according to an exclusive report from Reuters, adding another major Western operator to the group reviewing opportunities created by Russia’s forced divestments. The review covers a range of refining, fuel-marketing and upstream positions once held by Lukoil across Europe, the […]
A new gas discovery in Egypt’s Western Desert has added another timely boost to the country’s strained upstream portfolio. The well, identified as Gomana-1, encountered several gas-bearing intervals based on electric-log data, with early tests indicating output of around 36 million cubic feet per day, according to the Daily News Egypt. The find is now undergoing […]
Leading consultancy companies have joined the African Energy Chamber’s (AEC) (https://EnergyChamber.org/) G20 Africa Energy Investment Forum, taking place November 21 in Johannesburg. Acha Leke, Chairman, McKinsey & Company Africa, and Simon Van Wyk, Director of Sustainability & ESG, Deloitte Africa, are expected to shed light into Africa’s evolving energy landscape, examining how global investors perceive […]