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.
The KM250 project adds 250 million standard cubic feet per day (MMscf/d) of new processing capacity, boosting Khor Mor’s total output to 750 MMscf/d—a 50% increase. The expansion will significantly strengthen power generation across the KRI and contribute to Iraq’s broader electrification goals by delivering cleaner-burning natural gas to regional power plants.
Shale Gas Market Expands Rapidly with Rising Energy Demand and Technological Advances
The Dangote Petroleum Refinery has announced a major production milestone, achieving a combined daily output of 70 million litres of petrol and diesel, 45 million litres of petrol and 25 million litres of diesel, surpassing Nigeria’s domestic fuel demand.
Africa’s oil and gas downstream market, currently valued at USD 80.5 billion, is projected to reach USD 120.8 billion by 2032, positioning the continent as the world’s next frontier for downstream growth. Demand across Africa is expected to rise by 2.2 million barrels per day (MMB/D) between 2019 and 2035, representing a 2.3 percent annual growth rate.