Ghana: GNPC Reaffirms Strategic Role In West Africa’s Energy Future
The Ghana National Petroleum Corporation (GNPC) has reaffirmed its commitment to energy transformation and regional integration with a forward-looking gas strategy unveiled at the 2025 West Africa Gas Summit in Accra.
Making a presentation on the theme “GNPC’s Vision and Role in the Gas Sector,” the Deputy Chief Executive Officer for Finance, Administration, and Commerce, Mr. Hamis Ussif, articulated the Corporation’s evolving role in Ghana’s gas sector and its broader vision for West Africa’s energy future, with a resounding call for strategic partnerships and infrastructure investment.
A Vision For The Future
“GNPC sees gas not just as a fuel, but as the bridge to a more resilient, inclusive, and prosperous energy future for Ghana and the sub-region,” Mr. Ussif noted, adding that “natural gas is the unsung hero of our energy narrative; quietly powering industries, homes, and opportunities.”
He called on energy actors and policymakers in the region to recognize the immense potential of natural gas for energy security and economic transformation.
Infrastructure, Innovation, And Inclusion
Mr. Ussif underscored GNPC’s vision to become a globally respected oil and gas company, with operations that improve the quality of life for Ghanaians. He stated that GNPC’s growing gas portfolio is vital not only for meeting domestic energy demands but also for supporting industrialization, lowering electricity tariffs, and contributing to the Government’s efforts to make Ghana the energy hub of the sub-region.
Current Gas Supply And Future Plans
Currently, Ghana’s natural gas supply averages 425 million standard cubic feet per day (MMscfd), drawn from the Jubilee and TEN fields, the Sankofa-Gye Nyame field, and imports from Nigeria.
This gas fuels about 70 percent of the country’s electricity generation. However, there are deficits in supply, and demand is projected to continue to rise, thus increasing the deficit for both domestic users and regional trade.
Increasing Gas Production
In response, GNPC is working with its partners to ramp up domestic production. By July 2025, gas output from the Jubilee field is expected to increase from 100 MMscfd to 140 MMscfd, while the Sankofa field is expected to increase production from 245 MMscfd to 270 MMscfd.
Mr. Ussif also pointed out that these increases would still not eliminate the deficit in Ghana. Therefore, GNPC is working with its partners to operationalize the LNG import terminal in Ghana in 2026.
Strategic Investments
GNPC’s role as an enabler in the gas value chain was highlighted by several transformative investments. Mr. Ussif pointed to the Corporation’s $190 million financing of the Takoradi-Tema Interconnection Project (TTIP), which has enabled the reverse flow of gas on the West African Gas Pipeline. This investment has improved flexibility in domestic gas transportation and energy security.
Private Sector Collaboration
Recognizing the need for expanded capacity and innovation, Mr. Ussif extended an invitation to private sector players to partner with GNPC in shaping Ghana’s gas future.
He highlighted upcoming projects, such as the expansion of domestic supply from Jubilee, TEN, and Sankofa fields, the construction of the Tema City Gate, a Compressed Natural Gas (CNG), and the gas distribution pipeline network for the Tema industrial enclave.
Regional Energy Transition
Mr. Ussif reiterated GNPC’s commitment to Ghana’s decarbonization goals and principles of a just transition. He stressed that GNPC remains aligned with national policy on energy transition and will continue supporting economic transformation in ways that are inclusive, equitable, and environmentally responsible.
Conclusion
In closing, Mr. Ussif made a passionate call for collaboration and optimism. “Let us, together, unlock the immense potential of natural gas and light the way for millions across West Africa.”
Source: https://energynewsafrica.com
GOIL PLC Sets Sights On Market Dominance And Green Energy Leadership
In a bold move to reclaim its position as a market leader, GOIL PLC has outlined a strategic roadmap focused on market share expansion, competitive pricing, and innovative solutions to drive sustainability.
According to Mr Edward Abambire Bawa, Managing Director and Group Chief Executive Officer of GOIL PLC, the company’s priorities are clear: dominate the market, optimise costs, and embrace green energy innovations.
A New Era of Efficiency and Profitability
To achieve these goals, GOIL is implementing cost-effective sourcing strategies, reducing reliance on short-term financing, and slashing costs of sales, Mr Bawa said during an interview on Thursday, June 19, 2020.
The company’s financials show promising results, with improved profit margins in Q1 2025.
GOIL’s stock value has also surged, exceeding the projected 30% increase.
Shareholder Value on the Rise
Mr. Bawa highlighted GOIL’s improved profits and dividend ambition, signalling a strong commitment to delivering value to shareholders.
“We aimed for a 30% share price rise but have already exceeded expectations. This momentum will continue,” he affirmed.
A Brighter Future Ahead
With a clear roadmap and early successes, GOIL PLC is poised for a transformative year. As the company pushes towards greener energy solutions and market dominance, shareholders and industry analysts alike are taking notice.
“By next year’s AGM, we expect even greater strides,” Mr. Bawa concluded.
Source: https://energynewsafrica.com
Sierra Leone: Japan Supports Energy Sector Expansion With Additional $20M Funding
Sierra Leone: Japan Grants $20 Million to Boost Electricity Access Along Freetown Peninsula
The Japanese Government has committed an additional $20 million grant through the Japan International Cooperation Agency (JICA) for the expansion of the power distribution network along the Freetown Peninsula in Sierra Leone.
According to the Sierra Leone News Agency, the agreement was officially signed at the Ministry of Foreign Affairs and International Cooperation in Freetown, marking a significant step toward improving electricity access, promoting sustainable development, and strengthening economic resilience.
Long-Standing Partnership
JICA Resident Representative N. Yonebayashi highlighted Japan’s long-standing partnership with Sierra Leone, dating back to 2009, when a comprehensive power sector master plan was first developed.
He emphasized Japan’s role in building and maintaining substations, distribution lines, and power plants across the country.
Project Details
The new funding will support the construction of two new substations and expand the electricity network along the coastline.
The initiative aims to improve energy access in critical sectors such as healthcare, education, fisheries, and agriculture, while also creating jobs and supporting inclusive growth.
Diplomatic Ties
Japanese Ambassador to Sierra Leone, His Excellency Hiroshi Yoshimoto, reaffirmed Japan’s commitment to Sierra Leone, noting that the additional grant supplements the initial contribution.
Sierra Leone’s Foreign Minister, Alhaji Musa Timothy Kabba, described the project as a symbol of shared commitment to sustainable progress and inclusive development.
Expected Outcomes
When completed, the project is expected to transform the lives of thousands, especially women in agriculture and marine processing, while accelerating urban electrification and enhancing Sierra Leone’s long-term economic growth.
Source: https://energynewsafrica.com
Angola, U.S. Leaders Move To Expand Energy Cooperation During Washington Meeting
Angola has taken a decisive step in advancing its strategic partnership with the U.S., following a high-level meeting between Angolan Minister of Mineral Resources, Oil and Gas Diamantino Azevedo and U.S. Secretary of Energy Chris Wright in Washington, D.C. on June 11.
The meeting – also attended by Angola’s Ambassador to the U.S., Agostinho Van-Dúnem – underscored the shared commitment of both nations to deepen cooperation across oil and gas, critical minerals and renewable energy development.
U.S. companies have long played a leading role in Angola’s oil and gas industry, from offshore exploration to production and infrastructure.
Minister Azevedo and Secretary Wright explored opportunities to build on this foundation through new upstream projects, gas monetization, refining and critical mineral development which is vital for clean technology supply chains.
“This meeting reflects the robust and evolving partnership between Angola and the United States,” said Minister Azevedo. “We are committed to working together to achieve a balanced energy transition – one that leverages Angola’s natural resources, advances technological cooperation and contributes meaningfully to our economic transformation and development goals.”
With more than nine billion barrels of proven oil reserves and 11 trillion cubic feet of natural gas, Angola has unveiled over $60 billion in oil and gas investment prospects through its National Oil, Gas and Biofuels Agency (ANPG).
These span exploration, development, gas processing, refining and midstream infrastructure.
A licensing round set to launch this year will offer ten new blocks in the Kwanza and Benguela basins, while 11 additional blocks are open for direct negotiation, alongside five marginal field opportunities.
U.S. firms continue to play a foundational role in Angola’s energy landscape. Earlier this month, ExxonMobil, as a joint venture partner alongside operator TotalEnergies, secured an extension of the PSC for Block 17, enabling continued deepwater exploration and development in this prolific basin and underscoring its long-term commitment to Angola’s offshore sector.
Meanwhile, ExxonMobil is advancing the redevelopment of Block 15 – where over 2.6 billion barrels have already been produced – with an 18-well program extending the block’s life by more than two decades and yielding two new discoveries.
The company is also undertaking prospective studies on Blocks 17/06 and 32/21, in collaboration with TotalEnergies and ANPG, aiming to identify future drilling targets.
Chevron, through its affiliate Cabinda Gulf Oil Company, is leading Angola’s gas development efforts.
The company has ramped up gas supply to 600 MMcfd to the Angola LNG plant and achieved first gas earlier this year from its Sanha Lean Gas Connection Project, which will supply both the Soyo power plants and Angola LNG.
Angola LNG – one of sub-Saharan Africa’s few operational LNG export terminals – offers a strategic entry point for U.S. firms into global LNG supply chains.
As part of the New Gas Consortium, Chevron is also developing Angola’s first non-associated gas project, set to come online in late 2025 or early 2026.
Source: Worldoil.com
Ghana: Jubilee And TEN Oil Fields Licences Extension To 2040 For Tullow And Kosmos Is A Bad Deal – PAG
Ghana-based political party, Progressive Alliance of Ghana (PAG), has expressed serious concerns over the extension of Jubilee and TEN Oil Fields licences for Tullow Ghana Limited and Kosmos Energy by the Government of Ghana.
According to the leader of PAG, Dr. Kpikpi, the deal is very bad for the country, for which reason it must be reversed immediately in the interest of national sovereignty, economic justice, and transparency.
The agreement extends the licences for the Jubilee and TEN Oil Fields to 2040, and it includes the drilling of up to 20 new wells and an estimated $2 billion in investment.
However, Dr. Kpikpi believes that the deal disproportionately benefits foreign partners, undermines local value retention, and limits future renegotiation opportunities.
“Who truly benefits from this deal?” he asked.
The PAG founder highlighted several key concerns with the deal, including lack of transparency in the negotiation process, and potential long-term revenue loss for Ghana.
He called on Parliament to reject any plan to validate the extension.
Dr. Kpikpi further called on civil society, the media, and patriotic citizens to demand accountability, emphasising that the issue is not just economic but also a matter of sovereignty and stewardship of Ghana’s natural resources.
“Ghana’s oil wealth belongs to its people — not to foreign multinationals and their local enablers,” he stressed.
Source: https://energynewsafrica.com
Israel- Iran Conflict Will Not Affect Tokyo Gas LNG Purchases
The Japanese key gas player, Tokyo Gas, ruled out that the Israel-Iran war will directly affect its liquefied natural gas (LNG) purchases as it gets its LNG neither from the UAE nor Qatar, the company’s CEO Nobuhiro Sugesawa said.
Meanwhile, Reuters report suggested that the company would increase its purchases from the US, from which it secures 10% of its supply.
Tokyo Gas is looking at the developments of the situation with utmost interest, he said, noting that the conflict could push up the LNG prices, disrupting the global supply.
Tokyo Gas Co., Ltd. is Japan’s largest city gas utility, delivering natural gas and energy services to over 12 million customers across Tokyo and the surrounding regions.
Source: https://energynewsafrica.com
Nigeria: UTM Offshore To Take Final Investment Decision On $5bn FLNG Project In Q3 2025
Nigeria-based UTM Offshore Limited, which is planning to construct the country’s first Floating Liquefied Natural Gas Facility, says it will make the Final Investment Decision (FID) for the $5 billion project by the third quarter of 2025.
The company had planned to make the announcement at the end of 2024 but pushed it to this year. The firm has already completed engineering studies, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has also approved the construction.
The Managing Director and Group CEO of UTM Offshore Limited, Julius Rone, disclosed the new date to this portal when reached on the phone after leading a delegation to meet the Group Chief Executive Officer of NNPC Ltd.
During the meeting with NNPC Ltd, discussions focused on the 1.8 million tonnes per annum Floating Liquefied Natural Gas project, with emphasis on finalizing project execution.
The Group Chief Executive Officer of NNPC Ltd highlighted the need to speed up the Final Investment Decision (FID).
According to a recent agreement signed with NNPC Ltd, NNPC Ltd will own 20%, while the Delta State Investment Development will hold 8%, with the remaining 72% share reserved for UTM Offshore.
Source: https://energynewsafrica.com
Iran’s Options Against Foreign Aggression Include Closing Strait Of Hormuz, Lawmaker Says
Iran could shut the Strait of Hormuz as a way of hitting back against its enemies, a senior lawmaker said on Thursday, though a second member of parliament said this would only happen if Tehran’s vital interests were endangered.
Iran has in the past threatened to close the Strait of Hormuz to traffic in retaliation for Western pressure, and shipping sources said on Wednesday that commercial ships were avoiding Iran’s waters around the strait.
“Iran has numerous options to respond to its enemies and uses such options based on what the situation is,” the semi-official Mehr news agency quoted Behnam Saeedi, a member of the parliament’s National Security Committee presidium as saying.
“Closing the Strait of Hormuz is one of the potential options for Iran,” he said.
Mehr later quoted another lawmaker, Ali Yazdikhah, as saying Iran would continue to allow free shipping in the Strait and in the Gulf so long as its vital national interests were not at risk.
“If the United States officially and operationally enters the war in support of the Zionists (Israel), it is the legitimate right of Iran in view of pressuring the U.S. and Western countries to disrupt their oil trade’s ease of transit,” Yazdikhah said.
President Donald Trump is keeping the world guessing about whether the United States will join Israel’s bombardment of Iranian nuclear sites.
Tehran has so far refrained from closing the Strait because all regional states and many other countries benefit from it, Yazdikhah added.
“It is better than no country supports Israel to confront Iran. Iran’s enemies know well that we have tens of ways to make the Strait of Hormuz unsafe and this option is feasible for us,” the parliamentarian said.
The Strait of Hormuz lies between Oman and Iran and is the primary export route for Gulf producers such as Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait.
About 20% of the world’s daily oil consumption — around 18 million barrels — passes through the Strait of Hormuz, which is only about 33 km (21 miles) wide at its narrowest point.
Source: Oilprice.com
TotalEnergies And QatarEnergy Win Exploration Rights In Algeria’s Ahara Block
French multinational oil and gas company TotalEnergies, jointly with QatarEnergy, has been granted a license to explore the Ahara oil block after a successful 2024 Licensing Bid Round.
The Ahara license covers a large area of approximately 14,900 km², located at the intersection of the prolific Berkine and Illizi Basins.
TotalEnergies will serve as the operator during the exploration and appraisal phases of this license with a 24.5% effective interest, the same share as QatarEnergy (24.5%).
The national company, SONATRACH, will retain a majority interest of 51%, in accordance with Algerian law.
“TotalEnergies is delighted that its joint bid with QatarEnergy has led to the award of the Ahara license, allowing us to write a new chapter in our long-lasting partnership with SONATRACH in exploration in Algeria,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
Source: https://energynewsafrica.com
Chinese Firm Secures Key Gas Block In Algeria
Zhongman Petroleum and Natural Gas Group (ZPEC), an independent Shanghai-listed Chinese oil and gas company, has won a licensing contract to explore a natural gas block in central Algeria, the firm has said.
Algeria’s National Agency for the Valorization of Hydrocarbon Resources, ALNAFT, has awarded the Chinese firm an exploration contract for the Zerafa II gas block. ZPEC won the block in competition with French supermajor TotalEnergies and a consortium of two other European oil firms, Italian Eni and Norway’s Equinor, the Chinese company said, as quoted by Reuters. The Zerafa II block is in the southern part of Algeria’s main gas-bearing basin, Gourara-Timimoun. In the same Algerian tender, TotalEnergies and QatarEnergy have secured the Ahara oil and gas license in the country’s first licensing round under a new hydrocarbons law issued in December 2019. The Ahara block spans nearly 14,900 square kilometers at the junction of the Berkine and Illizi basins. The award marks a strategic expansion for both firms in North Africa. TotalEnergies will operate during the exploration and appraisal phases with a 24.5% interest, mirrored by QatarEnergy. Algeria’s national oil company, Sonatrach, holds the majority 51% stake, as required by law. “We are delighted to be awarded the Ahara Block, which marks our first entry into Algeria’s upstream sector and further and expands our footprint in Africa,” QatarEnergy’s president and chief executive officer, Saad Sherida Al-Kaabi, said. Algeria, which joined OPEC in 1969, produces around 900,000 barrels per day (bpd) of crude oil currently. The North African producer is part of the OPEC+ agreement looking to manage oil supply to the market. In recent months, Algeria has been vying to monetize its natural gas resources, especially in exports to Europe, which now has to do without much of the pipeline Russian gas it was consuming before 2022. Source: Oilprice.comGhana: GOIL PLC Records Gh¢84M Profit In 2024 Despite Challenges
GOIL PLC, Ghana’s largest indigenous petroleum downstream player, posted a net profit after tax of GH¢84,698,000 in 2024, representing a 54.82% increase over the previous year’s net profit of GH¢54,706,000.
In 2024, the group generated revenue of GH¢19,348,106,000 compared to GH¢20,606,778,000 in 2023 and paid a dividend per share of 0.056 to shareholders.
Despite making a huge profit after tax, shareholders at the company’s 56th Annual General Meeting in Accra on Thursday voted to maintain the 2023 dividend per share of 0.056 for the year 2024.
Addressing the shareholders, Board Chairman of GOIL PLC Nana Philip Archer highlighted the challenges Ghana’s economy faced in 2024.
He mentioned inflationary pressure and exchange rate instability leading to inflation closing the year at 20.4 per cent and cedi depreciating by 19 per cent against the US dollar.
Despite these challenges, Nana Archer said the company was able to navigate through the storms and made profit due to prudent financial management, strategic marketing and operational efficiency.
He noted that though operating costs increased by 11.12 per cent and finance costs by 20.25 per cent, they were offset by strong revenue generation and disciplined asset management.
He reported that the company’s total consolidated assets grew by 20.1 per cent to GH¢4.8 billion.
Looking ahead, Nana Archer said the company would expand its LPG bottling plants in Tema and Kumasi to 1,200 metric tons to advance the LPG Cylinder Recirculation Model policy.
He added that the company would also deepen market penetration in the aviation and mining sectors, including auto gas segment, and continue with the business automation processes.
Source: https://energynewsafrica.com
Strait Of Hormuz Tensions Drive 60% Surge In Tanker Rates
Tanker rates for the route via the Strait of Hormuz have doubled since Israel started bombing Iran last Friday, the Financial Times has reported, citing shipowners growing reluctance to sail through the chokepoint.
The daily rate for a very large crude carrier chartered from the Gulf of China, for instance, has jumped from $19,998 last Thursday to over $47,600 this week, the publication noted, citing figures from Clarksons Research, a maritime analysis provider. The insurance sector is responding to the situation as well, raising premiums for vessels traversing the Strait of Hormuz by as much as 60%, the FT again reported this week. With the new prices, the insurance of a $100-million ship has jumped from $125,000 to $200,000, the FT said. “We’ve not yet seen a missile fired at a ship in the Arabian Gulf, so what it represents is the market saying, look, there’s definitely a heightened level of concern about the safety of shipping in the region,” the global head of marine and cargo insurance at Marsh McLennan, Marcus Baker, told the FT. Other media reported that insurance for tankers specifically had jumped considerably, too. Safety4Sea cited figures from Xclusiv Shipbrokers showing that the insurance rate per barrel of crude carried by a VLCC from Ras Tanura in eastern Saudi Arabia to Ningbo in eastern China had gone up from $0.25 per barrel last Thursday to some $0.70-0.80 a day later. “Tehran cannot close Hormuz without crippling itself: the new Jask outlet east of the strait has loaded under 300,000 bpd and ran for only a month last year, while almost all of Iran’s 1.7-1.8 mbpd of exports—chiefly to China—still sail from Kharg,” Zclusiv Shipbrokers said. Even so, a closure of the strait remains a possibility despite the potential for an adverse impact on Iranian exports. Source: Oilprice.comGhana: BOST Welcomes Kalibi Sporting Club Volleyball Team After Tournament In Burkina Faso
The Bulk Energy Storage and Transportation (BEST) Company Limited, formerly BOST, on Tuesday, received the leadership of the Kalibi Sporting Club Volleyball team at its head office in Accra, the capital of Ghana.
The team represented Ghana in a recent tournament in Ouagadougou, Burkina Faso.
The team was received by the Managing Director of BEST, Mr Afetsi Awoonor, and a few management staff.
Briefing the Managing Director of BEST, the founder of Kalibi Sporting Club Volleyball Team, Mr Bernard Mornah, said they returned to express appreciation to BOST for the financial support which facilitated their transportation to Burkina Faso to participate in the recent tournament.
He said his team participated in the Greater Accra Volleyball league which they won to represent Ghana in the All Africa Games in Ouagadougou.
Mr Mornah said raising funds for the trip became a challenge and called on BOST at the last hour.
Despite reaching out to BOST at the eleventh hour, Mr Mornah said through the MD’s determination, they (team) received financial support to be able to travel to Ouagadougou to participate in the tournament.
Mr Mornah said inspite of bad officiating and language barriers, since most of the participation teams were from French-speaking countries, his team put up spirited performance and won medals.
On his part, Mr Afetsi Awoonor commended the team for their resilience despite bad officiating and charged them to remain strong and focused.
He reaffirmed the commitment of BOST to the team.
Mr Bernard Mornah presented report of their participation in the tournament including how they expended the donation from BOST.
Source: https://energynewsafrica.com
Ghana: Vivo Energy MD Urges Customers To Reduce Plastic Use On World Environment Day
In an effort to raise awareness about the harmful impact of plastic waste on the environment, the Managing Director of Vivo Energy Ghana (Shell Licensee), Mr. Christian Li, has encouraged customers to adopt more sustainable habits in their daily lives.
This call to action was made during a customer engagement activity at the Airport Shell service station in Accra, held in commemoration of World Environment Day.
During the event, Mr. Li, together with employees of Vivo Energy Ghana, distributed branded eco-friendly reusable glass bottles to customers.
The initiative aimed to encourage the reduction of single-use plastics and highlight the importance of making environmentally responsible choices.
Speaking directly to customers at the forecourt, Mr. Li said: “Our purpose here today is together – with you to make a conscious decision to reduce the plastic use, starting with this reusable bottle. Let it be a symbol of our commitment to protecting our environment. Together, through small daily actions, we can create a lasting impact and build a cleaner, greener Ghana for future generations.”
This initiative formed part of Vivo Energy Ghana’s broader environmental campaign, which seeks to educate the public on the dangers of plastic pollution and promote simple, practical solutions that individuals can adopt. The reusable bottles, distributed freely to valued customers, served as a reminder of the importance of reducing plastic waste.
Mr. Li also highlighted the urgency of addressing environmental degradation, noting that plastic pollution is a growing issue. He emphasised that collective effort is essential in reversing the damage already done and protecting the country’s natural resources for future generations.
Employees of Vivo Energy Ghana who participated in the exercise also took time to interact with customers, sharing tips on sustainable living and encouraging them to adopt environmentally friendly habits such as recycling, reusing containers, and avoiding single-use plastics where possible.
The activity was well received by customers, many of whom praised Vivo Energy Ghana for its leadership in environmental advocacy and its practical approach to sustainability.
This year’s World Environment Day was celebrated globally under the theme “Beat Plastic Pollution,” a call that aligns closely with Vivo Energy’s sustainability agenda.
The reusable bottle distribution is one of several initiatives Vivo Energy Ghana has launched in support of the United Nations Sustainable Development Goals, particularly Goal 12: Responsible Consumption and Production and Goal 13: Climate Action.
Source: https://energynewsafrica.com