
Ghana: GEA Appoints PETROSOL CEO Michael Bozumbil To Serve On NDPC And SSNIT Boards
The Chief Executive Officer of Petrosol Platinum Energy Limited, Mr. Michael Bozumbil, has been selected by the Ghana Employers Association to represent Ghanaian employers as a Commissioner of the National Development Planning Commission (NDPC) and member of the Board of Trustees of the Social Security and National Insurance Trust (SSNIT).
The new NDPC Commissioners were recently sworn in by President John Dramani Mahama, while the new SSNIT Board of Trustees were sworn in by Finance Minister Cassiel Ato Forson.
As 1st Vice President of the Ghana Employers’ Association, Mr. Bozumbil has demonstrated exemplary leadership in growing PETROSOL into a respected brand with triple international certifications for quality, safety, and environmental management.
A statement from Petrosol Platinum Energy Limited noted that Mr. Bozumbil’s strategic planning, results-oriented leadership, and commitment to good corporate governance and sustainable business practices will enable him to contribute meaningfully to national development planning and social security scheme sustainability.
The NDPC is a statutory body advising the President on national development policy and strategy, while SSNIT administers Ghana’s Basic National Social Security Scheme, providing income security for workers and retirees.
PETROSOL is a leading privately-owned indigenous energy company, operating primarily as an Oil Marketing Company, with a focus on delivering quality petroleum products through its over 100 fuel stations nationwide.
The company holds triple ISO certification for quality, occupational safety, and environmental management systems, and is highly respected for its tax and regulatory compliance.
Source: https://energynewsafrica.com

Ghana: Ghanaians Groan Over ‘Dumsor’ Tax
Ghanaians are opposing the government’s decision to impose a Gh¢1 levy on every liter of fuel, including petrol, diesel, and LPG to settle over $3 billion in energy sector debt.
They are shocked that the government is adding more fuel taxes instead of exploring alternative solutions.
Many have taken to traditional and social media platforms to express objections to the levy, despite President John Dramani Mahama and some of his appointees defending it.
Ghanaians consume over 450 million liters of petrol, diesel, and LPG monthly.
According to National Petroleum Authority data for March 2025, petrol consumption was 232,497,100 liters, diesel consumption was 219,245,300 liters, and LPG consumption was 26,712,272 kilograms.
If the new Gh¢1 tax per liter is implemented, the government would generate over Gh¢450 million monthly.”
Energy sector civil society groups, including the Africa Centre for Energy Policy (ACEP) and the Chamber of Petroleum Consumers, Ghana, have raised concerns about the levy, describing it as a nuisance levy.
The Chamber of Bulk Oil Distributors (CBOD) and the Chamber of Oil Marketing Companies (COMAC) have also objected to the levy.
Commenting on the issue on Accra-based Joy FM, Benjamin Boakye, Executive Director of the Africa Centre for Energy Policy (ACEP), said: ‘Slapping an additional Gh¢1 on the consumer seems excessive. Essentially, every time you fill your car, you’re paying almost Gh¢200 to support the energy sector, covering years of inefficiencies. That’s a significant burden on the consumer.’
Mr. Boakye warned that businesses, particularly those with large fleets, would face substantial costs: ‘Companies with fleets would have to pay hundreds of thousands monthly to accommodate this adjustment. It won’t be an easy relief’.
In a statement expressing concern about the new fuel levy, the Chamber of Oil Marketing Companies (COMAC) noted that ‘the cumulative impact of rising taxes, limited margins, and increasing financial obligations threatens the sustainability of many Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs) within the sector.’
The chamber warned that a significant number of OMCs/LPGMCs are already debt-burdened, and further fiscal pressure could lead to widespread insolvency, job losses, and broader economic disruption. COMAC emphasized that addressing energy sector debt shouldn’t compromise the downstream petroleum industry’s survival, competitiveness, or consumer protection, especially given structural inefficiencies in the power and electricity sectors.
The Chamber cautioned that rising LPG prices could force low-income households to revert to biomass fuels, undermining the government’s Cylinder Recirculation Model (CRM), public health, and environmental goals. COMAC demanded immediate engagement with the Ministry of Energy and relevant agencies to explore balanced, evidence-based policy solutions.
“We urge the government to collaborate with industry stakeholders to ensure fiscal policy decisions reflect operational realities, protecting business survival, promoting energy equity, and advancing Ghana’s development agenda,’’ COMAC said.
Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, also commented on the new fuel levy, describing it as counterproductive and warning of dire consequences. ‘This move is like creating holes in our pockets and taking whatever you find; it doesn’t help,’ he stated.
Amoah emphasized that efforts should focus on stopping financial losses in the power sector. ‘For me, whatever we need to do to stop the bleeding in the power sector should be our key focus at this point,’ he said.
He noted that the recent fuel price reduction would be rendered meaningless by the levy. ‘We were excited about the fuel price reduction, though we said it was woefully inadequate. But if fuel prices drop by 0.50 pesewas and we now have to pay an additional Gh¢1.00, the relief will be lost.’
Amoah warned that fuel vendors would likely increase prices, undoing any relief: ‘People selling fuel at Gh¢12.52 will now sell at Gh¢13.52. Adding other costs, we’ll be back to the high levels we protested against. With the cedi depreciating, the consequences of this levy will be dire for all of us.’
Source: https://energynewsafrica.com
The Gambia: Unidentified Persons Attack Jambur Solar Plant, Disrupting Operations
Unidentified persons have attacked the recently commissioned Jambur Solar Plant in The Gambia, destroying critical infrastructure and disrupting operations.
According to a statement by the National Electricity and Water Company (NAWEC), 36 panel sets, each consisting of 18 solar panels, were cut and disconnected by the unidentified persons who stormed the plant.
NAWEC’s technical teams are assessing the damage and working on recovery plans to restore the system and prevent future incidents.
Investigations are underway to identify those responsible, and security at the site has been reinforced.
NAWEC condemned the incident, urging Gambians to be vigilant and report suspicious activities around power installations.
“We strongly condemn such acts that undermine national development efforts and urge the public to be vigilant and report any suspicious activities around our installations.
NAWEC remains committed to delivering reliable and sustainable energy for all.
Source: https://energynewsafrica.com
Ghana:Tullow And Partners Sign MoU To Extend Production Licences To 2040
Africa-focused independent oil and gas company Tullow Oil plc and its partners – Kosmos Energy, PetroSA, Ghana National Petroleum Company and Explorco – have signed a memorandum of understanding (MoU) with the Government of Ghana to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences to 2040, covering the Jubilee and TEN fields in Ghana.
The MoU includes approval to drill up to 20 additional wells in the Jubilee Field, representing an investment of up to $2 billion in Ghana over the life of the licences.
As a result of the extension, the JV partnership expects to realise a material increase in gross 2P reserves.
In a statement copied to energynewsafrica.com, it highlighted that the MoU commits to work to increase in the supply of gas from the Jubilee and TEN fields to c.130 mmscf/d, reduce gas price for Jubilee associated gas and guarantee reimbursement mechanism for gas sales.
The statement mentioned that all terms and conditions of the existing WCTP and DWT petroleum agreements remain in place and continue unchanged.
Following the MoU will be the submission for approval of a Jubilee Plan of Development (PoD) Addendum, entering into new fully termed gas sales agreements (GSA), and the submission for parliamentary approval of the payment security mechanism and licence extensions planned before the end of the third quarter of 2025.
Mr. John Abdulai Jinapor, Ghana’s Minister of Energy and Green Transition, commented: “This memorandum of understanding between the Republic of Ghana and the DWT and WCTP partners marks a significant step forward in our nation’s energy sector. Extending the licences to 2040 demonstrates our commitment to fostering a stable and attractive investment climate. This MoU will not only ensure the continued production of oil, supporting our economic growth, but also allow us to further develop our infrastructure and create more job opportunities for our citizens. We are dedicated to responsible resource management and look forward to a prosperous future fuelled by sustainable energy practices.”
Richard Miller, Chief Financial Officer and Interim Chief Executive Officer of Tullow, said:“This is a valuable step forward for the Government of Ghana, Tullow and our JV partners, highlighting the collaborative and constructive relationship we all have in reaching our shared goal of building a better future for the people of Ghana, through responsible oil and gas development. This extension and the fiscal stability of our contracts emphasise the opportunity Ghana represents to deliver additional value through production and reserves additions, providing greater long-term optionality and materiality to these core assets.”
Andy G. Inglis, Chairman and Chief Executive Officer of Kosmos, stated: “This memorandum of understanding recognises the importance of oil and gas in Ghana and the desire of the new administration to create an attractive environment for new investment in the sector. Extending the Ghana production licences is highly accretive, adding material reserves and enabling the partnership to continue investing in the country for the long-term. This investment is expected to maximise the value of the fields for the benefit of the country’s economic development and Kosmos’ shareholders. We look forward to working with President Mahama and his government to invest in and advance Ghana’s energy sector.”
Source: https://energynewsafrica.com
Tanzania: Clean Cooking Target Of 80% Is Bold, Forward-Looking – EU
The Head of Natural Resources at the European Union Office in Tanzania, Lamine Diallo, has described Tanzania’s target of achieving 80% adoption of clean cooking energy usage by 2034 as a bold and forward-looking ambition.
According to him, the government’s clean cooking awareness vision is essential not only for health and environmental reasons but also for equity, economic opportunity, and national resilience.
He argues that the policy is a national movement aimed at informing, engaging, and inspiring communities, institutions, and families across the country to embrace cleaner, safer, and more sustainable cooking solutions.
The Energy Minister and Deputy Prime Minister, Dr. Doto Mashaka Biteko, recently launched the National Clean Cooking Awareness Campaign and Clean Cooking Communication Strategy Document, urging Tanzanians to adopt clean cooking energy solutions.
Addressing the gathering, Diallo noted that the program is part of a broader €30 million investment by the EU under the Integrated Approach to Sustainable Cooking Solutions, aimed at promoting both clean energy access and sustainable forest resource use.
Despite promising progress in implementing clean cooking in areas like Dar es Salaam, Pwani, Morogoro, Dodoma, and Mwanza, where adoption and awareness are growing, Diallo emphasized that the transition to clean cooking requires a deeper transformation.
“This change must begin at the household level, where cooking choices are made daily,” he stated.
“It must be supported by information, trust, and a belief that this transition brings real benefits.”
Diallo added that when people understand the practical benefits of clean cooking, such as improved health, protection for their children, time and money savings, and reduced environmental impact, true and lasting change can begin.
Diallo called on all stakeholders, including government, private sector, civil society, academia, and development partners, to support the clean cooking awareness campaign to ensure its success.
Source:https://energynewsafrica.com

Ghana Introduces New Tax On Fuel
The Government of Ghana has introduced a new levy, requiring consumers to pay Gh¢1 per liter on both petrol and diesel purchases at the pump.
The Energy Sector Levy (Amendment) Bill, 2025, passed by Parliament under a certificate of urgency, aims to raise revenue to settle over $3 billion in debt in the country’s power sector.
Finance Minister Dr. Cassiel Ato Forson presented the bill to Parliament, citing the sector’s total debt of $3.1 billion as of March 2025. An estimated $3.7 billion is required to clear arrears, and an additional $1.2 billion is needed for fuel procurement throughout the year.
Dr. Forson assured lawmakers that the levy wouldn’t lead to an immediate fuel price increase, thanks to the Ghana Cedi’s recent strong performance. However, the Minority Caucus strongly opposed the measure, condemning it as an added burden on struggling Ghanaians.
During the approval process, the Minority staged a walkout, arguing that the Majority lacked the necessary quorum. Majority Leader Mahama Ayariga appealed for national support, describing the levy as a “collective sacrifice” to end electricity supply challenges.
The government projects the levy will generate approximately Gh¢5.7 billion in additional annual revenue for debt servicing and fuel procurement.
While the government insists the fiscal measure is necessary for sector stability, the Minority’s walkout highlights deep political divisions.
The bill now awaits Presidential assent before implementation.
Source:https://energynewsafrica.com
Ghana: Petrol, Diesel Fuel Prices Drop, Average Price Below Gh¢12 Per Litre
Oil Marketing Companies (OMCs) in Ghana have reduced their pump prices for petrol and diesel in the first pricing window of June 2025, with some OMCs selling petrol below Gh¢12 per litre.
As of Tuesday, June 3, 2025, some OMCs adjusted their prices, with petrol selling between Gh₵11.77 and Gh₵12.52 and diesel selling between Gh₵12.49 and Gh₵12.98 per liter.
The decrease in fuel prices is attributed to the continuous appreciation of the local currency, the cedi, against foreign currencies and the fall in refined petroleum product prices on the international market.
As of Monday, June 3, 2025, the average interbank exchange rate for a US dollar was Gh₵13.255.
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:
- Shell:
- TotalEnergies:
- Star Oil:
- Zen:
- PETROSOL:
Venezuela Defies U.S. Sanctions As Oil Exports Hold Steady
Venezuela’s oil exports remained largely unchanged in May despite mounting pressure from the U.S. and the expiration of key licenses that once allowed limited sanctioned trade.
Increased shipments to China helped offset a sharp drop in U.S. authorized sales as state-run PDVSA scrambled to re-route barrels ahead of tightening sanctions.
According to internal PDVSA documents and vessel-tracking data, Venezuela shipped 779,000 bpd of crude and refined products last month—down only slightly from April’s 783,000 bpd. While exports to U.S.-authorized firms like Chevron and Reliance came to a halt, China-bound cargoes surged to 584,000 bpd, up from 521,000 bpd in April. The resilience comes despite a hard stop to licenses that previously allowed U.S. and European firms to legally engage with Venezuela’s sanctioned oil sector. May 27 marked the final deadline for Chevron and others to wind down operations. PDVSA canceled multiple cargoes to Chevron due to payment concerns, and new shipments of Boscan heavy crude—once sent to U.S. refiners—were instead dispatched to Asia. This shift follows Venezuela’s latest controversial election, which saw President Nicolás Maduro tighten his grip on power. With turnout estimated below 15% by the opposition, the Biden administration cited the lack of credible democratic reform as a key reason for letting the licenses expire. Secretary of State Marco Rubio confirmed last week that no further extensions would be granted. In a last-minute move, PDVSA completed a large oil swap with France’s Maurel & Prom and trading giant Vitol—the final U.S.-authorized transaction under the previous license regime. Meanwhile, fuel imports jumped to 159,000 bpd as PDVSA rushed to stockpile heavy naphtha for blending operations. With Western doors closing and sanctions tightening, Venezuela’s oil now flows more heavily through intermediaries and shadow channels—keeping barrels moving, but with far less transparency and far more risk. Source: Oilprice.comNigeria Issues Upstream Executive Order, Prioritizing High Returns For Oil & Gas Operators
Nigerian President Bola Ahmed Tinubu has signed an executive order designed to lower project costs for investors while enhancing revenue from oil and gas projects. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) introduces performance-based tax incentives for upstream operators, expected to play a crucial role in attracting investment, driving development, and unlocking greater value from Nigeria’s oil and gas resources.
This strategic initiative aims to transform the country, and with this reform, Nigeria is poised to attract fresh investment in its upstream oil and gas sector, solidifying its position as a top African producer. The order features incentives for operators delivering verifiable cost savings that meet defined industry benchmarks.
The Nigerian Upstream Petroleum Regulatory Commission will annually publish benchmarks by asset type, covering onshore, shallow-water, and deep-water assets. Furthermore, the executive order limits tax credits to 20% of a company’s annual tax liability, ensuring government revenue protection and fiscal competitiveness.
Nigeria’s Special Advisor to President Tinubu on Energy, Olu Verheijen, will spearhead inter-agency coordination to ensure operators maximize opportunities presented by the executive order.
Source:https://energynewsafrica.com
GHS Appreciation Is A Strategic Windfall For Energy Sector Recovery And ECG’s Solvency
Exchange Rates and Energy Sector Reset in Context
Ghana’s energy sector has long been entangled in a complex web of financial distress, driven largely by structural inefficiencies, under-recovery of costs, and, notably, foreign exchange (forex) volatility.
At the center of this crisis is the Electricity Company of Ghana (ECG)—the primary revenue collector and off-taker in the power value chain. ECG’s balance sheet has persistently suffered under the weight of escalating arrears, liquidity shortfalls, and high exposure to USD-denominated payment obligations.
Historically, the depreciation of the Ghana cedi (GHS) has significantly undermined ECG’s solvency and worsen by PURC’s exchange rate setting that falls below the market rates.
With most Power Purchase Agreements (PPAs), fuel supply contracts, and service-level agreements priced in USD, every cedi lost in exchange rate value translates into a higher domestic currency burden on ECG.
This mismatch between GHS revenue and USD obligations has created a perverse financial loop, triggering delayed payments to Independent Power Producers (IPPs), power system unreliability, and recurring state bailouts.
However, a rare and powerful macroeconomic reversal is underway in 2025. Since the beginning of the year, the GHS has appreciated by over 10% against the USD, reversing nearly four years of sustained depreciation.
Buoyed by a combination of IMF disbursements, renewed investor confidence, cocoa and gold export inflows, and tighter monetary policy, this appreciation is delivering a direct fiscal windfall to ECG and the broader energy sector.
The cedi appreciation presents a practical opportunity to ease ECG’s solvency crisis, improve sector liquidity, and restore balance to a value chain that has been trapped in a deficit-financing cycle.
Why FX Appreciation Matters to ECG Mechanically?
To understand the real-world impact of the cedi’s appreciation, consider the financial obligations of ECG. The utility is required to pay monthly invoices to IPPs and fuel suppliers for generated electricity and fuel supplied. A significant proportion of these invoices—particularly capacity charges, fuel costs, and some ancillary services—are denominated in USD.
Let’s examine a simplified example:
- ECG receives a monthly invoice of USD 50 million from a set of IPPs.
- If the GHS/USD rate is 12,ECG needs to mobilize GHS 600 million to pay this bill.
- With the current rate appreciating to 10.80, the same invoice now costs only GHS 540 million.
- This translates to a direct saving of GHS 60 million per month, assuming stable dollar prices.
- Reduce payment arrears to IPPsper the PPA payment terms,
- Fund urgent network upgrades,
- Support metering and revenue protection programs, or
- Settle part of ECG’s legacy debts.
Tullow Ghana Limited Withdraws TEN Development Plan, Raises Questions Over GPP2 Project
Tullow Ghana Limited has withdrawn its draft TEN Amended Plan of Development (TAPOD) and Combined Gas Sales Agreement (CGSA) proposal for the Tweneboa, Enyenra, and Ntomme (TEN) field, citing changes in market conditions, inflationary pressures, and revised estimates of gas volumes.
In a letter to Hon. John Abdulai Jinapor, Minister for Energy and Green Transition, dated May 29, 2025, Tullow stated, “While TEN gas volumes are still significant, further studies indicate that these are now smaller and/or riskier to develop.” This development has implications for the planned second gas processing plant, which relies on sufficient gas volumes.
According to Tullow, current estimates point to firm export volumes of 160 million standard cubic feet per day (mmscf/d) from the Jubilee and TEN fields combined. The company emphasized the need for further investment, underpinned by an appropriate commercial framework, including an economic gas price and acceptable payment security.
“We remain committed to the TEN re-development priorities, including extending TEN economic life, maximizing resource recovery, and safeguarding the viability of gas supply to Ghana with an appropriate commercial framework,” the letter reads. Tullow plans to reassess and define future TEN investment, accounting for all factors, and will submit a revised long-term plan in Q3 2025.
The withdrawal of the plan raises questions about the investment needed to develop the TEN field further and potential implications for gas prices in Ghana. Industry experts believe this development poses a significant threat to the realization of the country’s plan to construct a second gas processing plant (GPP2).
According to a source familiar with the gas industry, it will be difficult to justify GPP2 with only a firm export flow of 160 mmscfd from both Jubilee and TEN. With the existing gas processing plant operated by Ghana National Gas Company having a capacity of 150 mmscfd, operational experts believe there won’t be much gas left for the proposed GPP2.
Last month, Minister for Energy and Green Transition John Abdulai Jinapor inaugurated a technical committee to fast-track the processes leading to the establishment of the second gas processing plant. The establishment of the second gas processing plant is expected to save the West African nation around $500 million annually.
Source:https://energynewsafrica.com
Zimbabwe: ZETDC Converts Street And Tower Lights In Municipalities To Prepaid Meters
The Zimbabwean Electricity Transmission and Distribution Company (ZETDC) has announced the conversion of public street and tower lights in various municipalities, including Bulawayo and Chitungwiza, to prepaid meters.
This initiative is part of ZETDC’s ongoing efforts to enhance service delivery, improve efficiency, and ensure a sustainable supply of electricity for all Zimbabweans.
Prior to the installation, ZETDC engaged with councils since June 2024 and issued written reminders in May 2025, advising them of the final phase of the prepaid meter installation project.
The company reminded councils that upon installation, meters would be pre-loaded with limited units before registration.
Upon each installation, relevant documents are handed over to the respective City Council official on-site to facilitate processing for registration and subsequent token purchase.
According to ZETDC, the current disconnections are a direct result of the newly installed prepaid meters requiring the purchase of electricity tokens by local authorities.
ZETDC says it is committed to ensuring public safety and well-being.
The company is actively engaging with municipalities to facilitate meter registration and activation and also expedite token purchase for registered meters.
ZETDC urged municipalities to prioritize the necessary administrative and financial processes to acquire tokens without delay. “Swift action is crucial to alleviating public safety concerns,” ZETDC said.
ZETDC remains dedicated to providing reliable power to all customers and stakeholders.
Source:https://energynewsafrica.com
South Africa: Economic Freedom Fighters File Suit To Challenge Proposed Fuel Levy Increase
The South Africa-based Economic Freedom Fighters (EFF), has filed a suit at the Western Cape High Court to challenge the proposed fuel levy increase.
Finance Minister Enoch Godongwana announced a general fuel levy increase of 15 cents per liter for diesel and 16 cents per liter for petrol when he tabled this year’s budget in Parliament for the third time last month.
The general fuel levy increase is expected to come into effect on June 4.
The EFF filed its papers last week, arguing that the implementation of the fuel levy increase will be economically harmful.
Source:https://energynewsafrica.com
IAEA Team Concludes Site And External Events Design Review For El Salvador’s First Nuclear Power Plant
An International Atomic Energy Agency (IAEA) team of experts has concluded a six-day safety review of El Salvador’s site selection process for its first nuclear power plant (NPP).
The Central American country is embarking on a nuclear power program to diversify its energy mix and provide a clean and reliable source of energy to support economic development.
The Site and External Events Design Review Service (SEED) mission, which took place from May 26 to 31, reviewed El Salvador’s adherence to IAEA guidance on the site selection process.
The SEED mission was carried out at the request of the Government of El Salvador and hosted by the Organization for the Implementation of the Nuclear Energy Program in El Salvador (OIPEN) and the Executive Hydroelectric Commission of the Lempa River (CEL).
The SEED review team comprised three experts from Japan, the United Kingdom, and the United States, as well as two IAEA staff members. They reviewed the site selection report, together with the siting process, siting criteria, and data collection process for siting activities.
The team visited and observed the candidate sites located in Chalatenango (about 40 kilometers northeast of the capital San Salvador) and San Vicente (about 70 kilometers east of San Salvador).
In addition to the SEED review mission, the IAEA provided a SEED Capacity Building Workshop to support site evaluation.
“We confirmed that CEL independently developed exclusion criteria for site screening and effectively narrowed down the areas of the country with the lowest external hazard risks. This can be considered a good practice for minimizing risks,” said mission team leader Kazuyuki Nagasawa, Senior Nuclear Safety Officer at the IAEA.
The team provided recommendations to improve the quality and optimize the site selection process, aiming to select the most favorable site.
OIPEN and CEL will continue to receive technical support from the IAEA as they advance from the site selection stage to the subsequent site characterization stage.
The final SEED mission report will be delivered to the Government of El Salvador within three months.
Source: https://energynewsafrica.com