Nigeria: Tinubu Approves Board Members For Nigerian Independent System Operator
Nigeria’s President Bola Ahmed Tinubu has appointed the executive and non-executive board members for the newly established Nigerian Independent System Operator (NISO).
The board will be chaired by Dr. Adesegun Olugbade, with Engineer Abdu Mohammed Bello serving as the Managing Director.
The President has also appointed four Executive Directors: Engineer Nafisatu Asabe Ali for Systems Operation, Engineer Shehu Abba-Aliyu for Systems Planning, Dr. Edmund Eje for Market Operations, and Mr. Babajide Ibironke for Finance and Corporate Services.
The Non-Executive Directors include Engineer Lamu Audu, representing Generation; Mrs Folake Soetan for Distribution; Mr Tajudeen Giwa-Osagie as Market Expert; Engineer Sule Ahmed Abdulaziz for Transmission, and Alhaji Mahmuda Mamman, Permanent Secretary at the Federal Ministry of Power.
The National Council on Privatisation (NCP) will finalise the recruitment process.
These appointments align with the Electricity Act of 2023.
They followed a memorandum from Vice President Kashim Shettima and a rigorous selection process conducted by the Independent Board Nomination Committee (IBNC) in collaboration with Phillips Consulting Limited.
The creation of NISO fulfils a key mandate of the Electricity Act (2023), which requires the unbundling of the Transmission Company of Nigeria (TCN) into a Transmission System Provider (TSP) and an Independent System Operator (ISO).
The Nigerian Electricity Regulatory Commission (NERC) officially established NISO on April 30, 2024.
The Bureau of Public Enterprises (BPE) and the Ministry of Finance Incorporated (MOFI) are its subscribers, each holding equal equity shares.
Source:https://energynewsafrica.com
Ghana: New NPA Boss Vows To Crack Down On Illegal Fuel Trade
The newly appointed Chief Executive of the National Petroleum Authority, Ghana’s petroleum downstream regulator, Mr. Godwin Kudzo Tameklo Esq., has expressed his outfit’s commitment to dealing with groups or individuals engaged in illegal fuel trade.
He said the Authority would be tough with its mandate to ensure that the transportation and sale of fuel were carried out lawfully.
Speaking at a meeting with Bono Regional Security Council (REGSEC) during his familiarization tour in the region, the NPA Boss enumerated fuel smuggling, selling of adulterated fuels, operating with an expired license, and operating without proper safety standards as some of the illegal fuel trading.
Mr Tameklo pleaded with regional ministers across the country to abstain from intervening on behalf of unscrupulous fuel traders.
He stated that there was the tendency for people to hide behind political parties to try and induce officials of the NPA to engage in illegal activities; a practice he said would not be countenanced.
“We must support President Mahama’s agenda of reseting the economy for growth and prosperity for all.
“If you plead on behalf of these criminals who are not playing by the rules at the expense of the reset agenda, who will you call when you buy bad fuel in your car?” he quipped.
The NPA CE indicated that collaborative efforts by the NPA, National Security and other security agencies had helped to drastically reduce the menace of supply leakages such as export dumping in the country.
In his remarks, the Bono Regional Minister, Mr. Joseph Addae Akwaboah assured the NPA of the support of the regional security council.
“I assured you of the Bono REGSEC support that we are here to serve, and we can have a good collaboration with NPA to curb the future occurrence of such illegalities” the Regional Minister assured.
The meeting with the Bono Regional Security Council was part of a three-day tour by the Chief Executive of NPA to the Bono and Ashanti regions to familiarize himself with some petroleum installations.
The Chief Executive and Management of the Authority, on Wednesday, made the first stop at the Bono Regional Coordinating Council and paid a courtesy call on the Omanhene of Sunyani to court his support in dealing with fuel supply and export challenges in the region.
Source: https://energynewsafrica.com
“We must support President Mahama’s agenda of reseting the economy for growth and prosperity for all.
“If you plead on behalf of these criminals who are not playing by the rules at the expense of the reset agenda, who will you call when you buy bad fuel in your car?” he quipped.
The NPA CE indicated that collaborative efforts by the NPA, National Security and other security agencies had helped to drastically reduce the menace of supply leakages such as export dumping in the country.
In his remarks, the Bono Regional Minister, Mr. Joseph Addae Akwaboah assured the NPA of the support of the regional security council.
“I assured you of the Bono REGSEC support that we are here to serve, and we can have a good collaboration with NPA to curb the future occurrence of such illegalities” the Regional Minister assured.
The meeting with the Bono Regional Security Council was part of a three-day tour by the Chief Executive of NPA to the Bono and Ashanti regions to familiarize himself with some petroleum installations.
The Chief Executive and Management of the Authority, on Wednesday, made the first stop at the Bono Regional Coordinating Council and paid a courtesy call on the Omanhene of Sunyani to court his support in dealing with fuel supply and export challenges in the region.
Source: https://energynewsafrica.com Nigeria: BolaTinubu Declares State Of Emergency In Rivers State Over Pipeline Explosion
Nigerian President Bola Ahmed Tinubu declared a state of emergency in Rivers State on Tuesday, suspending the state governor, Siminalayi Fubara, his deputy, and all lawmakers for six months.
Tinubu, in a television broadcast, said he had received security reports in the last two days of “disturbing incidents of vandalization of pipelines by some militants without the governor taking any action to curtail them.”
“With all these and many more, no good and responsible president will standby and allow the grave situation to continue without taking remedial steps prescribed by the constitution to address the situation in the state,” added Tinubu.
For him, what many fear – the venom in its sting – is a potential gold mine.
Police said earlier they were investigating the cause of a blast in Rivers state that resulted in a fire on Nigeria’s Trans Niger Pipeline, a major oil artery transporting crude from onshore oilfields to the Bonny export terminal.
Rivers, in the Niger Delta, is a major source of crude oil and militants have in the past blown up pipelines, hampering production and exports.
The state has been embroiled in a political crisis pitting factions of the opposition People’s Democratic Party (PDP) against each other.
The state lawmakers had also threatened to impeach the governor and his deputy.
Tinubu’s state of emergency enables the federal government to make regulations to run the state and also allow authorities to easily deploy security forces to bring order if needed.
Tinubu nominated a retired vice admiral as caretaker to run the affairs of Rivers State for an initial six months.
The president said he had sent a copy of his proclamation to the National Assembly, which can endorse or reject his decision.
“For the avoidance of doubt, this declaration does not affect the judicial arm of Rivers State, which shall continue to function in accordance with their constitutional mandate,” said Tinubu.
Source: https://energynewsafrica.com
Russia Agrees To 30-Day Suspension Of Energy Infrastructure Attacks
Russian President Vladimir Putin agreed to impose a 30-day suspension on attacks on Ukrainian energy infrastructure in exchange for an identical halt of attacks on Russian infrastructure from the Ukrainian side.
The commitment was made during Putin’s two-and-a-half-hour phone call with President Trump during which the two discussed the next steps in the Ukraine war.
A full 30-day ceasefire, as originally proposed by the U.S. side, was rejected by Russia, which sees it as a means of giving the Ukrainian army a break to rearm.
One of Russia’s conditions for a peace agreement is the suspension of all U.S. military aid to the Kyiv government.
Following the lengthy call, the White House said the two sides will continue their negotiations with a ceasefire in the Black Sea, progressing to a permanent peace agreement, Reuters reported.
Trump’s special envoy on the Ukraine, Steven Witkoff, told Fox News that the next U.S.-Russian talks will take place in person, in Saudi Arabia, on Sunday, March 23, where the parties would discuss the details of the ceasefire and the future peace deal.
“Up until recently, we really didn’t have consensus around these two aspects – the energy and infrastructure ceasefire and the Black Sea moratorium on firing – and today we got to that place, and I think it’s a relatively short distance to a full ceasefire from there,” Witkoff told Fox News.
Crude oil prices dipped on the news of the partial ceasefire, as they do on any positive news about progress towards peace in the Ukraine, since peace would likely mean the lifting of U.S. sanctions in Russian energy, facilitating the access of Russian oil to international markets.
“The agreement marks a positive step towards an eventual resolution, with the halt of attacks on Ukrainian energy facilities reducing further oil supply disruption risks and keeping oil prices under some pressure,” IG analyst Yeap Jun Rong told Reuters.
Source: Oilprice.com
Ghana: Shareholders Approve Appointment Of Nana Philip Archer As Board Chairman Of GOIL PLC
Shareholders of Ghana’s largest indigenous petroleum downstream player, GOIL PLC, have approved the appointment of Nana Philip Archer as the new Board Chairman.
His appointment was confirmed by shareholders at the Extraordinary General Meeting (EGM) held on Wednesday, March 19, 2025, at the plush Movenpick Hotel in Accra.
He secured the votes of 106 shareholders to be confirmed, with 4 shareholders voting against his appointment.
Profile
Nana Philip Archer is a seasoned executive with over 20 years of experience in multinational corporations, having served as CEO and Managing Director in various organizations.
He specializes in sales and distribution management, trade marketing, public relations, and corporate leadership.
He holds a BSc in Chemistry from Kwame Nkrumah University of Science and Technology (KNUST) and an Executive MBA in Marketing from the University of Ghana Business School.
His career spans leadership roles in construction, cement manufacturing, logistics, supply chain management, and agriculture, including positions at Dzata Cement Limited, Ghacem Limited, and Takoradi Flour Mill.
Nana Philip Archer is also the CEO of Archer and Archers Consult, a consultancy firm specializing in construction, cement/concrete application knowledge, logistics, and project management.
He is the founder of Nana Archer Farms Limited, engaged in cocoa, palm nut and coconut plantations, as well as greenhouse snail farming.
Nana Archer is also the proprietary owner of a chemical-based product (Universal Thinner) known in the hydrocarbon field study as ‘diluent used for reducing viscosity of auto paint for spraying vehicles.
Beyond business, he has held various political roles, including Assemblyman and Parliamentary Aspirant for the Assin South Constituency in the Central region.
Additionally, he is the traditional chief (Kyedomhene) of Assin Juaben under the title Nana Akogyei Yeboah I.
His personal interests include volunteerism, communal service, soccer, music, and traveling.
Source: https://energynewsfrica.com
Ghana: GOIL Senior Staff, Workers’ Union Express Confidence In MD’s Leadership
The Senior Staff Association and unionised workers of GOIL PLC have reaffirmed their confidence in the leadership of the company’s Group Chief Executive Officer (CEO) and Managing Director, Mr. Edward Abambire Bawa.
At separate meetings held to welcome Mr. Bawa, both the Senior Staff Association and the Workers’ Union pledged their full co-operation and commitment to fostering industrial harmony under his leadership.
The President of the Senior Staff Association, Mr. David Osei Bonsu, recounted the history of strong collaboration between staff and management and expressed optimism that Mr. Bawa would build upon this legacy to drive GOIL forward.
Mr. Bawa, in response, assured the workers of an open-door policy that prioritises engagement, transparency, and fairness.
He emphasised that the company’s future success is deeply rooted in a committed workforce and a merit-based reward system that recognises hard work and dedication.
Mr. Bawa also tasked the staff to foster teamwork and reinforce unity to enhance productivity and reposition GOIL as a market leader.
The local chairman of the GOIL Workers’ Union, Mr. Mac-Jordan Macbeth Norgbe, reaffirmed the union’s support for Mr. Bawa, underscoring their shared commitment to the company’s progress.
He assured the MD of the workers’ dedication to advancing GOIL’s corporate goals.
The meetings were attended by key management members, including the Head of Administration and Human Resources, Ms. Millicent Ocquaye, the Head of Corporate Affairs, Dr. Marcus Dake, and the Public Relations Manager, Mr. Robert Kyere.
Source:https://energynewsafrica.com
Mr. Bawa, in response, assured the workers of an open-door policy that prioritises engagement, transparency, and fairness.
He emphasised that the company’s future success is deeply rooted in a committed workforce and a merit-based reward system that recognises hard work and dedication.
Mr. Bawa also tasked the staff to foster teamwork and reinforce unity to enhance productivity and reposition GOIL as a market leader.
The local chairman of the GOIL Workers’ Union, Mr. Mac-Jordan Macbeth Norgbe, reaffirmed the union’s support for Mr. Bawa, underscoring their shared commitment to the company’s progress.
He assured the MD of the workers’ dedication to advancing GOIL’s corporate goals.
The meetings were attended by key management members, including the Head of Administration and Human Resources, Ms. Millicent Ocquaye, the Head of Corporate Affairs, Dr. Marcus Dake, and the Public Relations Manager, Mr. Robert Kyere.
Source:https://energynewsafrica.com Ghana: VRA, NEDCo Staff Groups Oppose Purported Appointment Of R. A. Abdul Jalil As VRA’s Public Affairs Director
The Volta River Authority (VRA) and the Northern Electricity Distribution Company (NEDCo) staff groups are protesting the alleged appointment of the Savannah Regional Communications Officer of the ruling National Democratic Congress (NDC), Mr R. A. Abdul Jalil, as Director of Public Affairs for VRA.
Some media platforms reported on Tuesday, March 18, 2025, that Mr. Abdul Jalil had been appointed as Director of Public Affairs for VRA, drawing the attention of the staff of the power generation company to news that was previously unknown to them.
The workers group accused the appointing authority of violating time tested criteria for recruitment of staff to the position of Director of Public Affairs for the company.
In a press release signed by Theophilus Tetteh Ahia, National Chairman of Senior Staff Association of VRA, and Fuseini Adjei, Divisional Union Chairman of VRA, the group argued that directorate positions are filled based on established procedures, fairness, competency and meritocracy.
They contended that the purported appointment of Mr Abdul Jalil violates established recruitment policies, senior staff conditions of service, Collective Agreement of Public Services Workers Union of TUC and also undermines experienced professionals.
“This purported appointment is not only a major source of demotivation to the workforce, an affront to hard work that negatively affects productivity, but also it undermines career
progression, as well as succession planning within the VRA,” the workers group stressed.
They called on the newly appointed acting Chief Executive Officer to, as a matter of urgency, resist any pressure to enforce this purported appointment.
Besides, they called on the Honourable Minister of Energy and Green Transition to urgently ensure that this purported appointment is withdrawn immediately in order not to further endanger the fragile current industrial harmony in the VRA.
They, however, pointed out that if Mr. Abdul Jalil is qualified to be employed at the VRA, then he must be made to submit to the standard recruitment processes of the company and compete fairly with other qualified candidates as and when there is a vacancy.
Source:https://energynewsafrica.com
Ghana: Energy Minister Assures Ashanti Region Of Improved Power Supply
Ghana’s Minister for Energy and Green Transition, Hon. John Jinapor, has assured the Asantehene and residents of the Ashanti Region that efforts are underway to stabilize the power supply and address persistent challenges in the electricity supply.
Speaking during a courtesy call on the Asantehene, H.M. Otumfuo Osei Tutu II, at the Manhyia Palace, on Monday, March 17, 2025, Jinapor highlighted ongoing interventions, including the installation of a new transformer, to improve power supply.
He informed Otumfour that the newly installed transformer, which replaces an older 66MVA unit, has more than double the capacity of the previous system. This upgrade, he noted, will significantly enhance power distribution in Kumasi and beyond.
“The electricity demand has been increasing, and the existing infrastructure was unable to keep up. With the completion of this transformer new 145MVA, we expect a remarkable improvement in power delivery,” Jinapor said.
Hon. Jinapor further addressed the power rationing (load shedding) issues that have affected businesses and households, revealing that at its peak in December, Ghana experienced up to 750 megawatts of load shedding.
He, however, assured that the power supply situation has since stabilised, with Ghana, exporting excess electricity to neighboring countries.
According to the Minister, despite these improvements, more work needs to be done to achieve a fully stable energy supply. He stressed the need for a comprehensive approach, including power generation, transmission, and distribution, to ensure long-term stability.
“We are working around the clock to resolve these challenges and guarantee a reliable power supply. Beyond generating enough power, we need to effectively transmit and distribute it to consumers,” he said.
Hon. Jinapor commended the technical team for completing the new transformer installation, acknowledging that the transition between transformers caused some temporary disruptions.
He assured Otumfour that the situation has been resolved, and the region will receive improved service moving forward.
Additionally, he urged power providers in the Ashanti Region to improve communication with consumers, particularly during scheduled maintenance or emergency power switches, to minimize panic and inconvenience.
Hon. Jinapor hinted at ambitious plans to make Kumasi a major power generation hub, with multiple plants expected to be operational in the coming years. He indicated that these projects could contribute up to 500 megawatts of electricity from the region, further strengthening Ghana’s energy security.
The Hon. Minister reaffirmed the government’s commitment to addressing the country’s energy challenges and ensuring uninterrupted power supply for both residential and industrial users.
On his part, H.M. the Asantehene expressed gratitude to the Minister and his team of engineers for the swift response to addressing the power challenges in the Ashanti Region.
Otumfour Osei Tutu II assured the Minister of his support while he worked to improve the power situation in Kumasi and the Ashanti Region in general.
The Minister, as part of the visit inspected the newly commissioned GRIDCo’s 145MVA Transformer at Anwomaso, the Ameri Plant, the construction of the AKSA plant, the construction of the Cenit Plant, the ECG double circuit tower line from Anwomaso BSP to the Airport Junction.
The Minister was accompanied by officials from the Ministry, VRA, GRIDCo, and ECG.
Source: https://energynewsafrica.com
South Africa: Six Arrested In Eskom Procurement Fraud Scheme
Six individuals, including Eskom’s former procurement officer and manager, have been arrested for their involvement in a fraudulent procurement scheme at Kusile Power Station.
According to Eskom, the arrests were made on March 14 and 15, 2025, following a coordinated intelligence-driven operation by the Mission Area Joint Operational Centre (MAJOC).
The investigation revealed that in 2018, a pump was unlawfully procured for R857,977.00, despite an identical pump with the same serial number having been purchased in 2015 for only R18,835.00.
This fraudulent transaction led to a direct financial loss for Eskom.
Four suspects, including the Kusile Procurement Manager, were taken into custody on March 15, 2025, in addition to the former Kusile Procurement Officer who was arrested the previous day.
Two suspects remain at large, with authorities actively pursuing them.
The arrested individuals appeared in the eMalahleni Magistrates’ Court on March 17, 2025.
These arrests are part of the ongoing efforts by the NATJOINTS Energy Safety and Security Priority Committee to address fraud, corruption, and criminal activities within Eskom and South Africa’s broader energy infrastructure.
Eskom’s Group Chief Executive, Dan Marokane, emphasized the company’s commitment to eliminating corruption, stating that “those who engage in wrongdoing will increasingly face investigation and action”.
Source: https://energynewsafrica.com
Nigeria’s Oil Production And Exports Hit By Pipeline Explosion
The Trans-Niger Pipeline , one of Nigeria’s largest petroleum pipelines that carry crude the Niger Delta to the Bonny terminal was e rocked by a powerful explosion on Monday night, disrupting Nigeria’s oil production and exports.
The blast, which occurred at Bodo in the Gokana Local Government Area of Rivers State, triggered a massive fire.
Although authorities have yet to announce the cause of the explosion, speculation suggests that sabotage by militant groups in the region may be to blame.
Militant groups have recently threatened to attack oil infrastructure in Rivers State amid a political crisis between the state and federal governments over funding allocation.
The pipeline, operated by Shell Petroleum Development Company of Nigeria Limited (SPDC), is a critical artery for Nigeria’s oil industry, transporting crude oil from Rivers and Bayelsa states to the Bonny export terminal.
The explosion comes as Nigeria has been ramping up its oil production in recent months.
In February, the country exceeded its OPEC+ quota, driven by higher exports and demand from the new Dangote refinery.
However, the setback highlights the ongoing challenges facing Nigeria’s oil industry, including oil theft, vandalism, and infrastructure struggles.
The incident may also impact Nigeria’s efforts to increase its oil production, which has been hindered by years of oil theft and vandalism.
The country has struggled to meet its OPEC+ quota, and the explosion may exacerbate these challenges.
Source:https://energynewsafrica.com
Kenya: Kenya Power Injects Kshs 7.1 Million To Light Up 2025 WRC Safari Rally Service Park And Spectator Village
Kenya’s electricity distribution company, Kenya Power has announced a sponsorship of KShs.7.1 million towards the World Rally Championship (WRC) Safari Rally Kenya 2025.
The announcement reaffirms the Company’s commitment to support local sports, one of the pillars of the recently launched Kenya Power Foundation.
The sponsorship will be used to set up floodlights at the Safari Rally Service Park and enhance power supply to the Morendat Safari Rally Village thus easing electricity access for rally enthusiasts.
“Our participation in the WRC Safari Rally is a testament to our belief in the power of sports to unite people and drive positive change. We are proud to be associated with the WRC Safari Rally Kenya 2025 as the official lighting partner.
We aim to provide enough electricity supply to light up the service centre and enable rally fans to charge their phones and other gadgets so as not to miss iconic moments,” said Dr. (Eng.) Joseph Siror, Kenya Power’s Managing Director & CEO.
The Safari Rally Service Centre is located at the Wildlife Research and Training Institute (WRTI) in Naivasha and serves as the central hub where rally vehicles receive crucial maintenance and repairs between race stages.
Enhanced lighting at the service centre will empower the service teams to work uninterrupted throughout the rally period.
Apart from the installation of lighting infrastructure, Kenya Power will also set up an exhibition pavilion at the Morendat Spectator Village to showcase its latest advancements in the push for the adoption of electric motorization (E-mobility) and E-cooking thus highlighting its commitment to sustainable energy solutions.
The pavilion will also serve as a FREE charging station for electric vehicles, motor bikes and mobile phones, and provide customer education on various Company products and services to rally attendees.
“We believe in the power of sports to unite people and drive positive change.Through our exhibition at the Safari Rally Village, we aim to educate the public on the benefits of e- cooking and e-mobility, while also addressing their energy needs. This is an opportunity for us to connect with our customers and showcase Kenya Power’s commitment in driving energy transition in Kenya,” said Dr. (Eng) Siror.
The 2025 WRC Safari Rally is expected to captivate a global audience of over 120 million viewers across 70 countries through 43 international media partners.
Source: https://energynewsfrica.com
Ghana: Energy Expert Proposes Multi-Company Model For ECG Revenue Collection
The Executive Director and Editor of Energynewsafrica.com, Mr Michael Creg Afful has advised the government to adopt a multi-company approach in the proposed Private Sector Participation (PSP) in the Electricity Company of Ghana (ECG).
He cautioned against entrusting revenue collection to a single entity, arguing that such a move could pose efficiency and accountability risks.
In a detailed proposal, Afful outlined a strategy involving five companies selected through a tendering process based on their technical expertise and financial strength.
According to his plan, four of these companies should form two joint ventures (JVs), while the fifth company operates independently.
To enhance efficiency, he proposed dividing ECG’s operational areas into three zones:
Group 1: Central, Ashanti, and Western Regions
Group 2: Eastern and Volta Regions
Group 3: Greater Accra (as a standalone zone due to its large population)
Under this arrangement, the two joint venture (JV) entities would each manage one of the first two groups, while a single company would oversee Greater Accra.
Afful also stressed the need for the government to establish Key Performance Indicators (KPIs) to measure the efficiency and effectiveness of the selected companies.
He recommended that performance reviews be conducted after six months, with a full assessment at the one-year mark. If any company fails to meet the set targets, their contract should be terminated.
His proposal comes amid ongoing discussions on ECG’s PSP model, aimed at improving revenue collection and operational efficiency.
Source:https://energynewsafrica.com
China Stops Buying U.S. LNG
China has not received a single cargo of U.S. liquefied natural gas in 40 days and there are currently no LNG tankers en route to the country, Bloomberg has reported, citing data it compiled from ship-tracking information providers and energy analytics provider Kpler.
The purchase freeze was the result of the tariff exchange that President Donald Trump started as soon as he took office, by slapping an additional 10% tariff on all Chinese imports. In response, China imposed 15% tariffs on U.S. LNG imports and a lower tariff of crude oil imports.
Following the tariffs, Chinese LNG buyers with long-term supply contracts with U.S. producers have started reselling the cargos to Europe, Bloomberg reported, citing sources from the trading world.
What’s more, Chinese traders have grown cold towards new long-term commitments for future supply from the United States, instead seeking long-term deals with gas producers in the Middle East and the Asia Pacific.
The publication mentioned one new deal, between China Resources Gas International and Woodside Energy, which has a term of 15 years and is the first long-term deal between a Chinese company and an Australian company to be signed in years.
The moment is rather opportune for Europe, which is nearing the end of its leak gas demand season as spring comes.
Yet demand is going to remain elevated for a while as it restocks its depleted gas storage. Indeed, Kpler predicted European gas demand will tick higher in the coming weeks because it is coming out of winter with lower levels of gas in storage.
Kpler also revised South Korea’s 2025 LNG demand higher—but it revised Chinese LNG demand for this year down, based on weaker LNG imports in February, part of the reason for which is quite likely the tariff exchange with the United States.
Source: Oilprice.com
Ghana: Fuel Prices See Significant Drop
Some Oil Marketing Companies (OMCs) in Ghana have reduced their pump prices for petrol and diesel in the second pricing window of March. Petrol prices have decreased by between 66 pesewas and 30 pesewas, while diesel prices have dropped by between 47 pesewas and 30 pesewas.
In the first pricing window of March, petrol was sold between Gh¢15.79 and Gh¢14.99 per liter, while diesel was sold between Gh¢15.79 and Gh¢15.10.
However, as of Tuesday morning, some OMCs adjusted their prices, with petrol selling between Gh¢14.99 and Gh¢15.47, and diesel selling between Gh¢15.49 and Gh¢15.27 per liter.
The reduction in fuel prices is attributed to the decrease in refined petroleum product prices on the international market and the relative stability of the local currency, the cedi, in recent days. As of March 17, 2025, the average interbank exchange rate for a US dollar was Gh¢15.5478.
In Ghana, fuel prices are reviewed daily by OMCs, based on fluctuations in key factors such as exchange rates, refined petroleum product costs, and inflation. In contrast, fuel prices are reviewed monthly in other parts of Africa.
GOIL is selling petrol (Ron 91) at Gh¢14.99 per litre while petrol (Ron 95) is sold at Gh¢15.42, with diesel being sold at Gh¢15.36 per litre.
Shell is selling petrol at Gh¢15.30 per litre while diesel is sold at Gh¢15.47 per litre. Shell V-Power is being sold at Gh¢16.34 per litre.
TotalEnergies is selling both petrol and diesel at Gh¢15.49 per litre while Excellium is sold for Gh¢16.35 per litre
Star Oil is selling petrol (Ron 91) at Gh¢14.37 per litre while petrol (Ron 95) is sold at Gh¢15.67, with diesel being sold at Gh¢15.27 per litre.
Other OMCs are yet to review their pump prices.
Source:https://energynewsafrica.com