The delegation also visited the System Control Centre, where the Centre’s Manager, Ing. Steven Debrah, led a briefing on power system management, including frequency control, electricity supply and demand balancing, and cross-border power exchanges with neighbouring countries.
Discussions also covered GRIDCo’s involvement in the Ghana Wholesale Electricity Market (GWEM) project, its technical and consultancy services, and its capacity-building support for utilities across the sub-region.
The visit provided an opportunity for both institutions to exchange knowledge and experiences, highlighting the importance of regional cooperation in strengthening West Africa’s electricity sector.
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Nigerian Electricity Delegation Engages GRIDCo On Study Tour Of Ghana’s Electricity Transmission System
The Forum of Nigerian Electricity Regulators (FONER), comprising chief executives and managing directors of electricity regulatory institutions across various states in Nigeria, has paid a working visit to the Ghana Grid Company Limited (GRIDCo).
Led by its Chairman, Dr Musiliu Oseni, and Vice Chairman, Engr Chijioke Onokwo, the delegation is in Ghana as part of a regulatory study tour aimed at gaining insights into the country’s electricity sector and exploring opportunities for collaboration.
The team was received by GRIDCo’s Chief Executive, Ing. Frank A. Otchere, the Deputy Chief Executives and members of the Management Team.
During the visit, Mr Samuel Acquah, Director of Corporate Strategy, delivered a presentation on Ghana’s electricity value chain and GRIDCo’s role in electricity transmission and system operations.
The delegation also visited the System Control Centre, where the Centre’s Manager, Ing. Steven Debrah, led a briefing on power system management, including frequency control, electricity supply and demand balancing, and cross-border power exchanges with neighbouring countries.
Discussions also covered GRIDCo’s involvement in the Ghana Wholesale Electricity Market (GWEM) project, its technical and consultancy services, and its capacity-building support for utilities across the sub-region.
The visit provided an opportunity for both institutions to exchange knowledge and experiences, highlighting the importance of regional cooperation in strengthening West Africa’s electricity sector.
The delegation also visited the System Control Centre, where the Centre’s Manager, Ing. Steven Debrah, led a briefing on power system management, including frequency control, electricity supply and demand balancing, and cross-border power exchanges with neighbouring countries.
Discussions also covered GRIDCo’s involvement in the Ghana Wholesale Electricity Market (GWEM) project, its technical and consultancy services, and its capacity-building support for utilities across the sub-region.
The visit provided an opportunity for both institutions to exchange knowledge and experiences, highlighting the importance of regional cooperation in strengthening West Africa’s electricity sector.
Ghana: Investment In Domestic Refining Critical To Industrial Growth – TOR MD
Ghana needs to increase investment in domestic oil refining to support industrial growth, reduce reliance on imported petroleum products and retain more economic value locally, the managing director of Tema Oil Refinery (TOR), Edmond Kombat, said on Wednesday.
Speaking at the Energy Day of the 15th Ghana Economic Forum in Accra, Kombat said domestic refining was important for ensuring fuel availability, supporting industrial activities, supplying fuel for power generation and creating jobs.
He said the benefits of local refining extended beyond the production of petroleum products to include opportunities for petrochemical development and other related businesses.
Kombat said Ghana’s dependence on imported refined petroleum products exposed the economy to higher freight, insurance and refining costs, particularly during disruptions in international petroleum markets, including those affecting shipping through the Strait of Hormuz.
Expanding domestic refining capacity would help reduce these pressures and provide a more reliable fuel supply for businesses and industries, he said.
Kombat also outlined progress in TOR’s recovery following the resumption of crude processing in December 2025, including efforts to improve operational efficiency, rehabilitate critical infrastructure and expand processing capacity.
He said the refinery was also working towards listing on the Ghana Stock Exchange by 2028 as part of efforts to attract private investment and strengthen its long-term financial position.
The planned listing would be supported by measures to restructure the company’s debt, improve its balance sheet and achieve sustained profitability, he said, adding that the process would also promote stronger corporate governance.
Kombat, who participated in a panel discussion on Ghana’s energy competitiveness, said sustained investment and a supportive policy environment were needed to strengthen domestic refining and position the country to meet local fuel demand while exploring opportunities in regional markets.
The Energy Day was organised by the Business & Financial Times (B&FT) as part of the 15th Ghana Economic Forum, held under the theme: “The Future Economy Runs on Power: Building Ghana’s Energy Advantage for Sustainable Industrialisation and Economic Growth.”
The planned listing would be supported by measures to restructure the company’s debt, improve its balance sheet and achieve sustained profitability, he said, adding that the process would also promote stronger corporate governance.
Kombat, who participated in a panel discussion on Ghana’s energy competitiveness, said sustained investment and a supportive policy environment were needed to strengthen domestic refining and position the country to meet local fuel demand while exploring opportunities in regional markets.
The Energy Day was organised by the Business & Financial Times (B&FT) as part of the 15th Ghana Economic Forum, held under the theme: “The Future Economy Runs on Power: Building Ghana’s Energy Advantage for Sustainable Industrialisation and Economic Growth.”
Iran Denies Talks With US, Says Hormuz Will Stay Shut Until Demands Are Met
Iran’s Security Chief Mohsen Rezaei has said that Tehran is waiting for a response from the United States on its seven conditions for peace talks, while dismissing speculation about holding any negotiations with Washington.
Rezaei’s comments on Tuesday came as hopes grow for a diplomatic breakthrough in the US and Israel’s war on Iran after US President Donald Trump said that he saw “positive momentum” towards ending the conflict.
Trump, who held talks with Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani at the White House on Monday, also said that new attacks on Iran were unnecessary. Qatar is a key mediator in the conflict.
Rezaei told Lebanon’s Al Mayadeen TV on Tuesday that claims “about continuing negotiations or holding a meeting in Qatar is a pure lie”, saying that Washington was talking up negotiations to ease economic pressure and bring down oil prices.
He said the Strait of Hormuz – the global maritime corridor that Iran closed – will not reopen until the US meets Tehran’s seven conditions.
“Their initial response was insufficient and deceptive, and we are still waiting for an explicit and clear response,” he said.
Iran has not released the full list of conditions. But Rezaei and Foreign Minister Abbas Araghchi have said it includes lifting sanctions and the US naval blockade, and ending the fighting on all fronts, especially Israel’s attacks on Lebanon.
Araghchi has said that Hormuz could be reopened within two days if the demands are met.
“The conflict with Iran will not be resolved through military means, nor by intensifying sanctions,” Araghchi told the state news agency IRNA on Tuesday.
“The only solution is to adopt a language of respect, engage in diplomacy, and address Iran’s demands and conditions – which were outlined in the two-day proposal and remain on the table,” he said.
The war, which is now in its ninth month, has roiled global markets and disrupted oil and gas supplies, pushing up prices around the world.
In the French capital, Paris, where foreign ministers from the Group of 7 were meeting, Sheikh Mohammed held talks with the Saudi foreign minister and four top European diplomats only hours after his meeting with Trump.
The French Foreign Ministry said the talks would focus on the Iran crisis and its security and economic fallout.
Speaking to reporters in Paris, US Secretary of State Marco Rubio said Washington was “open to diplomacy”. He reiterated Trump’s position that further strikes were not needed “if we’re achieving the same objectives through economic means”.
“The economic campaign is so devastating that right now there is no need for major combat operations,” Rubio said. “That’s what I told our allies here today.”
In the Strait of Hormuz, meanwhile, attacks on vessels continued.
Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that three oil tankers caught fire on Tuesday after striking naval mines while transiting an “unauthorised route” in the eastern part of the strait.
The UK Maritime Trade Operations (UKMTO) agency said it received reports of incidents involving two tankers in the region. It said one of the tankers had been struck by an unknown projectile northeast of Oman’s Lima village.
The attacks came after maritime monitoring firms reported at least 37 attacks on ships in and near the Strait of Hormuz in November. The figure is the highest monthly total for ship attacks since the start of the war.
Zambia: Kapala Hails ZESCO’s K6.5 Billion Profit, Backs Drive For Universal Electricity Access
Zambia’s Minister of Electricity, Peter Kapala, has commended ZESCO Limited for its financial turnaround following the power utility’s declaration of a K6.5 billion profit last year, after years of financial challenges.
Kapala attributed the improved performance to the Government’s sound policies and reforms aimed at strengthening the electricity sector.
Speaking during a familiarisation visit to ZESCO Limited’s offices on Wednesday, following his appointment, Kapala said the Government was targeting universal electricity access by 2031, with three million households expected to be connected.
He stressed the need to accelerate electricity connections and strengthen infrastructure to support reliable power supply and economic growth.
“Our ambition to connect three million customers by 2030 is part of the Government’s commitment to achieving universal access to electricity,” he said.
The target is expected to expand access to electricity for households, communities and businesses, particularly in underserved areas, while creating opportunities for increased productivity, investment and improved livelihoods.
ZESCO Managing Director, Eng. Justin Loongo, commended the Government for electricity sector reforms that had opened up opportunities for private sector investment.
He said the utility was aligned with the national ambition of reaching 10,000 megawatts of generation capacity by 2029 and 12,000 megawatts by 2031.
Eng. Loongo said ZESCO was pursuing renewable energy projects, strengthening transmission infrastructure and exploring regional electricity trading to enhance power supply.
He said Zambia had surpassed 1,000 megawatts in solar generation, while ZESCO was targeting an increase in its customer base from the current 1.5 million to three million by 2031.
ZESCO Director of Transmission Operations and Trade, LiokoSitali said the country’s energy mix would undergo a significant transformation by 2030, with solar power expected to contribute 4,126 MW, hydropower 3,970 MW, thermal power 3,234 MW, wind 200 MW and other sources, including biomass, contributing 100 MW.
“We expect to reach the 10,000-megawatt milestone by 2029, a year earlier than initially projected,” he said.
Eng. Loongo said ZESCO was pursuing renewable energy projects, strengthening transmission infrastructure and exploring regional electricity trading to enhance power supply.
He said Zambia had surpassed 1,000 megawatts in solar generation, while ZESCO was targeting an increase in its customer base from the current 1.5 million to three million by 2031.
ZESCO Director of Transmission Operations and Trade, LiokoSitali said the country’s energy mix would undergo a significant transformation by 2030, with solar power expected to contribute 4,126 MW, hydropower 3,970 MW, thermal power 3,234 MW, wind 200 MW and other sources, including biomass, contributing 100 MW.
“We expect to reach the 10,000-megawatt milestone by 2029, a year earlier than initially projected,” he said. Ghana: Planet One, GNPC And GOIL PLC Hail Discovery At Nya Gyidie-1X Well Offshore Ghana
Planet One Oil & Gas and its partners, GOIL Upstream Limited and the Ghana National Petroleum Corporation (GNPC), have welcomed the discovery of hydrocarbons at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points (DWCTP) Block offshore Ghana.
The discovery was officially announced on Tuesday by Ghana’s President, John Dramani Mahama, at the opening of the 2026 Local Content Conference and Exhibition, organised by the Petroleum Commission in Takoradi.
The size of the discovery was not disclosed, as further appraisal work is required to determine whether the find is commercially viable.
Nya Gyidie-1X, which means “have faith” in the Akan language, marks the first successful test of a carbonate reservoir system in Ghana, opening up a new geological target beyond the sandstone formations that have underpinned the country’s existing commercial discoveries.
The discovery comes as Ghana seeks to accelerate investment and exploration across its upstream petroleum sector.
In July 2026, President John Dramani Mahama announced $3.5 billion in new upstream investment commitments.
The government has also identified reserve replacement, increased production and renewed international investment as priorities for the sector.
In a statement, Sanjeev Mansotra, Founder and Chairman of Planet One Group, described the Nya Gyidie-1X discovery as an important milestone for Planet One and Ghana’s oil and gas sector, opening up new possibilities for future exploration.
“We have worked closely with the Government of Ghana for many years, and across every project, our focus is on the impact it can create for the country. In oil and gas, that means supporting investment, jobs, skills and wider economic value over time. We are grateful to the Government of Ghana, the Ministry of Energy and Green Transition, the Petroleum Commission, Ghana National Petroleum Corporation and GOIL for their continued support and partnership,” he said.
Mr Andaleeb Sehgal, Chief Executive Officer of Planet One Oil & Gas, added: “Discovering hydrocarbons with our very first deepwater exploration well is a moment of immense pride for our entire organisation. A campaign of this kind demands technical capability, operational discipline, meticulous planning and, above all, an exceptional team.
“I thank every member of the Planet One team, the Petroleum Commission of Ghana, our partners at GNPC and GOIL, our contractors and the Government of Ghana for their support in delivering this campaign safely and successfully.
“I also thank our Chairman, Mr Sanjeev Mansotra, whose conviction and faith in the team made this achievement possible. The new carbonate play adds an exciting dimension to exploration in the Deepwater Tano Basin. Planet One Oil & Gas has now firmly established itself in exploration, and we look forward to helping unlock the potential of Ghana’s hydrocarbon resources.”
Located approximately 148 kilometres offshore Ghana, Nya Gyidie-1X was drilled in water depths of 2,289 metres, placing it firmly in the ultra-deepwater category.
The well encountered hydrocarbons within carbonate rock between 3,364 and 3,499 metres measured depth along the wellbore, confirming the presence of hydrocarbons in a reservoir type not previously proven in Ghana.
Mr Kwame Ntow Amoah, Chief Executive of the Ghana National Petroleum Corporation (GNPC), said: “The significance of Nya Gyidie-1X goes beyond the hydrocarbons encountered in this well. For the first time in Ghana, we have tested and confirmed hydrocarbons in a carbonate reservoir system, opening up a new geological play for further exploration.
“At a time when replenishing our reserves and sustaining production growth are national priorities, this is an encouraging development. The next task is to establish the scale and commercial potential of the discovery through rigorous technical evaluation. GNPC looks forward to working with Planet One and GOIL Upstream to build on this result and advance the development and production opportunities it presents for Ghana.”
Edward Abambire Bawa, Group Chief Executive Officer of GOIL PLC, said: “The Nya Gyidie-1X hydrocarbon discovery represents an important milestone for Ghana’s upstream petroleum industry and validates GOIL’s strategic decision to participate in exploration through GOIL Upstream Limited.
“As a Ghanaian company, we are particularly encouraged by the opening of a new exploration frontier and its potential contribution to the country’s long-term energy security. We commend Planet One, the operator, and our partners for this achievement and look forward to the next phase of technical evaluation to establish the discovery’s commercial potential.”
The Deepwater Cape Three Points Block, where Nya Gyidie-1X was drilled, covers approximately 1,454 square kilometres offshore Ghana.
The block is operated by Planet One in partnership with GOIL Upstream Limited, a subsidiary of GOIL PLC, and the Ghana National Petroleum Corporation.
Planet One’s partnership with GOIL Upstream was established in 2023 through Farm-In and Joint Operating Agreements, following ExxonMobil’s decision to relinquish its interest in the block.
The company began drilling the well in October and had outlined its drilling plans at Africa Oil Week 2026 in Accra.
“Planet One has done the work. We’ve matured the opportunity; we’ve secured the rig. Now we are ready to drill,” Doreen Addotei, the company’s lead geoscientist, said at the conference.
Planet One holds a 75% stake in the block, while the Ghana National Petroleum Corporation (GNPC) holds 15% and GOIL Upstream owns the remaining 10%.
Ghana: COMAC Reports 82.09% Average Safety Compliance At Fuel Retail Outlets Assessed In 2025
The Chamber of Oil Marketing Companies (COMAC) says an assessment it conducted at petroleum retail outlets in 2025 recorded an average safety compliance rate of 82.09%.
The chamber’s Chief Executive Officer, Dr Riverson Oppong, disclosed this during the 2026 Consumer Awareness Week celebration organised by the National Petroleum Authority (NPA) in Kasoa under the theme “Safe Downstream, Confident Consumers”.
He did not disclose the number of outlets assessed. Ghana has more than 5,000 fuel retail outlets.
Oppong said the findings reflected members’ continued investment and efforts to improve safety, but added that more work was needed to protect employees, consumers and surrounding communities.
He highlighted the importance of safety, product quality and reliable service delivery across Ghana’s downstream petroleum sector.
Consumer confidence, he said, depends on safe operations, accurate dispensing, transparent pricing, regulatory compliance and responsible service delivery throughout the petroleum supply chain.
Outlining COMAC’s efforts to improve safety, Oppong cited compliance assessments, mystery shopping exercises, member engagements and annual Safety Week celebrations. These initiatives, he said, help identify gaps, reinforce industry standards and encourage continuous improvement.
He urged industry players to maintain their equipment, invest in their workforce and respond promptly and respectfully to consumer concerns.
Oppong also encouraged consumers to follow safety guidance and report suspected fuel adulteration, inaccurate dispensing and unsafe practices through the appropriate channels. Public vigilance, he said, plays an important role in protecting communities.
Reaffirming COMAC’s commitment to a safer and more accountable downstream petroleum industry, he said: “We will ensure every transaction demonstrates integrity, every facility upholds safety, and every consumer leaves with confidence.”
Planet One Makes Gas, Condensate Discovery In Ghana’s Deepwater Cape Three Points Block
Ghanaian President John Dramani Mahama on Tuesday confirmed a gas and condensate discovery by Planet One Oil & Gas Limited at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points block, located in the Tano Basin offshore Ghana, as previously reported by energynewsafrica.com.
Mahama made the announcement at the opening of the 2026 Local Content Conference and Exhibition, organised by the Petroleum Commission in Takoradi.
The size of the discovery was not disclosed, as further appraisal work is required to determine whether the find is commercially viable.
Mahama described the discovery as a testament to the resilience and potential of Ghanaian-owned companies in the energy sector.
“Nananom and distinguished guests, I am pleased to announce that Planet One Oil and Gas Limited, together with its partners, GOIL Upstream Limited and the Ghana National Petroleum Corporation, has made a new offshore discovery.
“The hydrocarbon discovery at the Nya Gyidie-1X well in the Deepwater Cape Three Points contract area marks an important milestone for Ghana. It is the country’s first successful test of a Cenomanian-Turonian carbonate play,” the president said.
Mahama said the exploration campaign fulfilled a commitment made by the company and reflected growing investor confidence in Ghana’s upstream petroleum industry.
He added that his government was working to restore investor confidence, resolve outstanding disputes with operators and attract new investment to reverse the decline in oil production.
Planet One, the operator of the block, began drilling the well in October. The company had outlined its drilling plans at Africa Oil Week 2026 in Accra.
“Planet One has done the work. We’ve matured the opportunity; we’ve secured the rig. Now we are ready to drill,” Doreen Addotei, the company’s lead geoscientist, said at the conference.
Planet One acquired its interest in the block through a 2023 farm-in agreement with GOIL Upstream Limited after ExxonMobil relinquished its interest.
Planet One holds a 75% stake in the block, while the Ghana National Petroleum Corporation (GNPC) holds 15% and GOIL Upstream owns the remaining 10%.
Planet One is a wholly owned subsidiary of Planet One Group, which is owned by businessman Sanjeev Mansotra.
The drilling campaign is expected to provide additional data to help assess the block’s oil and gas potential.
Mahama described the discovery as a testament to the resilience and potential of Ghanaian-owned companies in the energy sector.
“Nananom and distinguished guests, I am pleased to announce that Planet One Oil and Gas Limited, together with its partners, GOIL Upstream Limited and the Ghana National Petroleum Corporation, has made a new offshore discovery.
“The hydrocarbon discovery at the Nya Gyidie-1X well in the Deepwater Cape Three Points contract area marks an important milestone for Ghana. It is the country’s first successful test of a Cenomanian-Turonian carbonate play,” the president said.
Mahama said the exploration campaign fulfilled a commitment made by the company and reflected growing investor confidence in Ghana’s upstream petroleum industry.
He added that his government was working to restore investor confidence, resolve outstanding disputes with operators and attract new investment to reverse the decline in oil production.
Planet One, the operator of the block, began drilling the well in October. The company had outlined its drilling plans at Africa Oil Week 2026 in Accra.
“Planet One has done the work. We’ve matured the opportunity; we’ve secured the rig. Now we are ready to drill,” Doreen Addotei, the company’s lead geoscientist, said at the conference.
Planet One acquired its interest in the block through a 2023 farm-in agreement with GOIL Upstream Limited after ExxonMobil relinquished its interest.
Planet One holds a 75% stake in the block, while the Ghana National Petroleum Corporation (GNPC) holds 15% and GOIL Upstream owns the remaining 10%.
Planet One is a wholly owned subsidiary of Planet One Group, which is owned by businessman Sanjeev Mansotra.
The drilling campaign is expected to provide additional data to help assess the block’s oil and gas potential.
Senegal Secures $1.7 Billion In Commitments To Achieve Universal Electricity Access By 2029
Senegal has secured nearly $1.7 billion (CFAF 1 trillion) in financing commitments towards achieving universal electricity access by 2029 under a programme led by the African Development Bank Group and Sustainable Energy for All (SEforALL).
The commitments are expected to support electricity connections in 6,471 localities across the country.
They were announced at a national roundtable held in Dakar on October 6, co-chaired by Energy and Petroleum Minister El Hadji Abdourahmane Diouf and Economy, Finance and Planning Minister Cheikh Diba, under the theme “From commitments to results”.
Development partners pledged CFAF 181 billion (about $320 million) for new electrification projects, while the private sector committed CFAF 817 billion (about $1.4 billion). This compares with an estimated financing requirement of CFAF 400 billion (about $700 million) to electrify localities not yet covered by existing projects.
“The roundtable exceeded its objectives by a wide margin,” Diouf said. “The challenge now is to translate these commitments into concrete actions to achieve universal electricity access by 2029.”
He added that the National Energy Compact would serve as an implementation framework to accelerate delivery, strengthen coordination and focus efforts on measurable results.
Senegal’s national electricity access rate stood at 86.2% at the end of 2024, compared with 69.8% in rural areas. Of the country’s 25,725 localities, 12,683 have been electrified and 6,571 are covered by ongoing projects, leaving 6,471 localities, home to nearly one million people, still without electricity.
According to the Senegal Energy Compact Implementation Support Document (CISD), the investment programme includes extending medium- and low-voltage electricity networks to approximately 3,978 localities, deploying solar mini-grids in 844 localities and installing stand-alone solar systems in 1,649 localities.
The programme also includes the installation of 27,000 household biodigesters and investments to improve the operational performance of Senelec, the country’s national electricity company.
On October 7, the government and the Compact Delivery Unit reviewed measures to strengthen the implementation and monitoring of the National Energy Compact.
The review was facilitated by SEforALL, with support from the African Development Bank Group’s Africa Energy Sector Technical Assistance Program (AESTAP), financed by the Sustainable Energy Fund for Africa (SEFA).
The session also assessed progress on actions and commitments arising from the roundtable discussions and concluded with agreement on five priorities for the next 12 months:
- Finalise and operationalise the Integrated Least-Cost Plan (ILCP).
- Implement the National Clean Cooking Strategy 2025-2035.
- Strengthen private sector participation.
- Sustain electricity access monitoring tools and data systems.
- Improve project and commitment tracking, stakeholder coordination and the resolution of implementation bottlenecks.
ExxonMobil To Supply North Slope Gas For 3-GW Alaska Power Campus Under 15-Year Deal
STAK Energy Corp. and ExxonMobil Alaska Production Inc. have signed a 15-year natural gas supply agreement to fuel a planned power plant on Alaska’s North Slope.
The agreement finalises a process that began with a gas sale precedent agreement in January and provides a new commercial outlet for North Slope gas, which has long lacked a route to market.
The gas will fuel power generation capacity of nearly 3 gigawatts at Project Aaka, STAK’s planned campus in an established North Slope industrial corridor with year-round road and airport access.
The campus will operate off-grid using high-efficiency gas turbines, with no expected impact on Alaska’s public electricity grid or utility ratepayers, STAK said. It will support advanced computing applications and is also expected to reduce energy costs for nearby North Slope infrastructure.
Project Aaka is targeting initial power generation in 2030, with expansion planned in phases through 2032. STAK said the gas supply agreement and the power project are expected to generate additional state and local tax revenue.
“For 50 years, the North Slope has produced gas without a way to put it to work at scale. Today, that changes,” said Sparrow Mahoney, STAK Energy’s founder and chief executive.
The agreement adds to efforts to develop commercial markets for North Slope natural gas, including the proposed Alaska LNG project.
The U.S. Geological Survey recently estimated that the North Slope holds 96 trillion cubic feet of undiscovered natural gas resources, nearly three times the region’s proven reserves.
Oil Prices Plunge Below $90 As Trump Signals Potential De-escalation With Iran
Crude oil prices plunged below $90 per barrel early Tuesday, falling beneath that threshold for the first time since August, after U.S. President Donald Trump again signaled the possibility of de-escalation in the Middle East and suggested that further strikes against Iran might not be necessary.
By Tuesday afternoon, Brent crude futures had fallen to $89.67 per barrel, while WTI crude, the U.S. benchmark, traded at $84 per barrel.
At the start of the week, oil prices extended last week’s steep sell-off. Brent crude prices tumbled 17% last week, marking their biggest weekly decline since the volatile weeks of 2020 during the COVID-19 pandemic.
Brent crude prices have now fallen by about 25% from their late-October peak of above $117 per barrel, as hopes for an end to the eight-month-old Middle East conflict have strengthened following the U.S. midterm elections, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said early Tuesday.
“President Trump added to the optimism by suggesting that further strikes on Iran would not be necessary. While crude oil flows have almost returned to pre-war levels, LNG and refined product supplies remain constrained, keeping prices elevated, particularly for diesel,” Hansen said.
The market is likely to closely monitor any fresh signals from Washington and Tehran regarding the prospects for a diplomatic breakthrough, the strategist added.
African, Asian And Pacific Leaders Endorse Rooftop Solar Declaration At COP31
A coalition of governments, including Bangladesh, Kenya, Nigeria and Vanuatu, has endorsed the Global Rooftop Solar Declaration at the COP31 climate summit in Turkey, backing an initiative to double the number of solar-powered households worldwide to 300 million by 2030.
The declaration has also secured endorsements from 34 individual members of parliament across 21 countries, alongside organisations in the energy industry, including Indonesia’s state-owned electricity company, PT PLN.
It calls on national, state and local governments to accelerate the deployment of rooftop solar and household energy storage by simplifying permits, expanding access to affordable finance and modernising electricity grids to accommodate distributed generation.
Other priorities include integrating rooftop solar into energy and climate policies, ensuring equitable access for households and expanding training to develop a skilled local workforce.
The declaration supports the 300 Million Solar Homes initiative, which seeks to overcome barriers to household solar adoption, including high upfront costs, permitting requirements and shortages of skilled workers.
Palau President Surangel Whipps Jr. and Pakistan’s climate change minister, Musadik Masood Malik, also joined discussions on the initiative.
Australian Climate Change and Energy Minister Chris Bowen, who serves as COP31 president of negotiations, said rooftop solar could reduce household bills and give consumers a greater role in the energy transition.
“Australia knows the power of rooftop solar. One in three Australian homes has solar panels on their rooftops, the highest rate in the world, which cuts bills and puts households at the centre of the energy transition,” Bowen said.
“The Global Rooftop Solar Declaration is about taking Australia’s success to the world with a clear ambition: to bring solar to 300 million rooftops by 2030.”
He said many countries had sufficient sunshine, space and demand but lacked the finance, infrastructure and workforce needed to expand deployment.
Ibrahim A. Shelleng, senior special assistant to Nigeria’s president on climate finance and stakeholder engagement, said investment in solar infrastructure could support economic stability, create jobs and strengthen energy independence.
“A sustainable future cannot be built in isolation. By supporting global solar initiatives, we ensure that every community, regardless of geography, has access to reliable, affordable, and zero-emission power,” he said.
Mirana Mahrukh, secretary of the Power Division at Bangladesh’s Ministry of Power, Energy and Mineral Resources, said the country aimed to install 5,500 megawatts of rooftop solar capacity by 2030, covering about 870,000 rooftops.
Under a proposed financing arrangement, domestic funding would support 20% of the targeted rooftops, or about 174,000, while international cooperation would be needed for the remaining 696,000, she said.
“We invite our global partners to join Bangladesh in mobilising affordable financing, advanced technologies, and investment to transform our rooftops into engines of clean energy, economic opportunity, and sustainable development,” Mahrukh said.
Global Solar Council Chief Executive Sonia Dunlop urged more governments to support the initiative.
“Families everywhere deserve reliable, affordable power, and rooftop solar and storage deliver it,” she said.
Heidi Lee Douglas, chief executive of advocacy group Solar Citizens, said rooftop solar paired with batteries could lower electricity costs, improve energy security and expand access to clean power.
“Together, 300 million solar homes could empower one billion solar citizens worldwide by 2030, putting power back into the hands of people,” she said.
The initiative’s backers said the endorsements built on growing demand for distributed solar. They cited expanded electricity access for 5.3 million people in Nigeria through decentralised solar and rising demand for rooftop solar and storage in Bangladesh as prices fall.
Ghana Energy Awards Announces 2026 Shortlisted Nominees
The Secretariat of the prestigious Ghana Energy Awards (GEA) has officially announced the shortlisted nominees for the 2026 edition of the Awards, marking a significant milestone in the scheme’s 10-year journey of recognising excellence, innovation and outstanding contributions to Ghana’s energy sector.
The 2026 nomination cycle recorded a record-breaking response, attracting more than 600 submissions between 30th September and 30th October 2026, representing the highest number of entries received in the history of the Awards.
The remarkable response, which included a significant number of first-time entrants, particularly from the private sector, underscores the growing recognition and industry-wide acceptance of the Ghana Energy Awards.
Following a rigorous assessment and verification process, the submissions were evaluated across 30 competitive categories, culminating in the announcement of the shortlisted nominees.
The 2026 edition features 30 competitive categories spanning Ghana’s power and petroleum subsectors.
The categories include Energy Personality of the Year, CEO of the Year, Energy Icon of the Decade, Visionary Leadership Award, Energy Company of the Year, Upstream Company of the Year, Downstream Company of the Year, Private Sector Impact Leadership Award, Rising Star, and Energy Reporter of the Year, among others.
Collectively, the categories provide a platform to recognise the individuals, companies and institutions whose leadership, innovation and commitment continue to shape the country’s energy landscape.
Following the announcement of the shortlisted nominees, the next phase of the Awards will involve a rigorous assessment process, including site visits to selected nominees.
The Awarding Panel will be supported by a Technical Team of Experts throughout this process to facilitate the assessment and verification of submissions. Upon completion of these activities, the Awarding Panel will undertake its independent scoring to determine the final winners.
The 10th Anniversary Edition will be celebrated under the theme: “Consolidating Ghana’s Energy Sector Gains: A Decade of Excellence, A Future of Sustainable Energy.”
The theme reflects on a decade of progress, innovation and institutional development within Ghana’s energy sector, while underscoring the need to consolidate these achievements and accelerate the transition towards a resilient and sustainable energy future.
Anticipation is now building towards the much-awaited Awards Night, scheduled for Friday, 27th November 2026, at the Labadi Beach Hotel in Accra.
The landmark celebration is expected to attract key policymakers, regulators, chief executives, industry leaders, technical experts and innovators for an evening dedicated to recognising outstanding performance, celebrating industry excellence and honouring transformational leadership across Ghana’s energy value chain.
For sponsorship opportunities, event tickets and further enquiries, kindly contact the Awards Secretariat on 055 930 0631 or via email at [email protected].
Find below the full list of shortlisted nominees for the 10th Ghana Energy Awards:
Ghana: Government Expected To Announce Gas And Condensate Discovery At Nya Gyidie-1X Well By Planet One
Ghana’s government is expected to announce a gas and condensate discovery by Planet One Oil & Gas Limited at the Nya Gyidie-1X exploration well in the Deepwater Cape Three Points block off Ghana’s coast, sources told Energy News Africa.
President John Dramani Mahama is likely to make the announcement in Takoradi, the sources said. An estimate of the size of the discovery was not immediately available.
Planet One, which operates the block, began drilling the well in October. It had outlined its drilling plans at Africa Oil Week 2026 in Accra.
“Planet One has done the work. We’ve matured the opportunity; we’ve secured the rig. Now we are ready to drill,” Doreen Addotei, the company’s lead geoscientist, said at the conference.
Planet One acquired its interest in the block through a 2023 farm-in agreement with GOIL Upstream Limited after ExxonMobil relinquished its interest.
Planet One holds a 75% stake in the block, the Ghana National Petroleum Corporation holds 15% and GOIL Upstream holds 10%.
Planet One is a wholly owned subsidiary of Planet One Group, which is owned by businessman Sanjeev Mansotra.
The drilling campaign is expected to provide additional data to help assess the block’s oil and gas potential.
South Sudan: JEDCO To Ration Power For 30 Days During Plant Overhaul
South Sudan’s Juba Electricity Distribution Company (JEDCO) said it would ration power across its service areas for 30 days from Tuesday, November 10, while it shuts down its power plant for a major overhaul.
The shutdown will reduce the amount of electricity available to customers, JEDCO said in a statement.
The company said the work was necessary to improve the reliability and efficiency of power generation.
Customers may face scheduled outages during the overhaul.
JEDCO said it would follow an approved schedule to distribute the available power fairly across the areas it serves.
The company urged customers to plan ahead, apologised for the inconvenience and thanked them for their cooperation.