Oil prices steadied on Wednesday after a sharp 4% slide the day before, with Brent trading near $63.08 and WTI around $58.80 at 11:01 a.m. ET, as traders reassessed the latest OPEC shift toward a more balanced 2026 market outlook. The passage of the U.S. funding deal that ended the government shutdown removed one macro problem, but crude remained focused on supply signals rather than broader risk sentiment.
The Minister for Finance, Dr Cassiel Ato Forson, has presented the 2026 Budget Statement and Economic Policy with a candid assessment of the nation’s petroleum sector, highlighting a significant slump in 2025 and outlining an ambitious reform to ensure oil wealth benefits domestic development
Nigeria is redefining its oil and gas sector with bold reforms aimed at boosting transparency, competitiveness, and long-term sustainability, according to the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe.
Acting Chief Executive Officer-Petroleum Commission Victoria Emeafa Hardcastle has announced that the Ghana National Petroleum Corporation (GNPC) will drill two exploratory wells in the Voltaian Basin by third-quarter next year.
Lands Minister and Acting Environment Minister Emmanuel Armah-Kofi Buah has called on world leaders to rally behind Ghana and Africa in achieving clean and sustainable energy for global progress, declaring the continent ready to become a powerhouse of green energy.
John Abdulai Jinapor, Minister of Energy and Green Transition, has expressed grave concern over the country’s declining oil production.
The International Monetary Fund (IMF) is urging government to intensify efforts to shift Ghana’s energy mix toward cheaper fuel sources such as natural gas to lower power generation costs and ease financial pressures within the sector.
The country’s upstream oil and gas sector has received a major boost with some of the industry’s global big players expressing interest to invest.
Nigeria’s national oil company is set to increase oil production to 2 million barrels daily over the next two years, its executive vice president for upstream said. By 2030, NNPC will be pumping 3 million barrels daily, Udy Ntia also said, as quoted by the News Agency of Nigeria.
Gas is driving Ghana’s industrial transformation – and Stanbic Bank Ghana is at the centre of it, financing the infrastructure that powers its progress.