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Ghana Gas CEO Calls For Domestic Gas Development To Strengthen Energy Security At ADIPEC
Ghana National Gas Company Chief Executive Judith Adjobah-Blay has urged countries with natural gas reserves to develop them to strengthen domestic energy security during global supply disruptions.
Speaking during a panel session on “The Long-Term Opportunity for Natural Gas and LNG: Supply Strategy, Contracts and Markets” at ADIPEC 2026 at the ADNEC Centre in Abu Dhabi, Adjobah-Blay said the approach would help reduce exposure to international market volatility.
“For developing economies, the priority should be to maximise domestic gas production and utilisation, using LNG primarily to address supply shortfalls, meet peak demand and provide flexibility in balancing supply and demand,” she said.
The session was moderated by Jamie Webster, partner and director at BCG’s Center for Energy Impact, and co-moderated by Jaime Ruiz-Cabrero, managing director and senior partner at BCG, the event’s strategic insights partner.
Discussions focused on how buyers and sellers are adjusting their natural gas and liquefied natural gas (LNG) strategies to balance supply security, diversification and affordability.
The panel examined the role of long-term contracts, infrastructure investment and new supply in meeting demand and strengthening resilience against future disruptions.
Panellists included Rashid Al Mazrouei, Chief Marketing and Origination Officer for LNG at ADNOC Gas; Nassim Zouari, Senior Vice president for business, gas and planning at TotalEnergies; Alessandro Bresciani, senior vice president for energy equipment at Baker Hughes; and Zubin Bamji of the World Bank’s Global Flaring and Methane Reduction Partnership.
Other speakers were Nobuo Tanaka, Executive Director Emeritus of the International Energy Agency; Neil McMahon, Managing partner at Kimmeridge; and De La Rey Venter, Chief Executive of MidOcean Energy.
Ghana Gas operates the Atuabo Gas Processing Plant, supplying liquefied petroleum gas (LPG) for domestic use and lean gas for power generation.
The company plans to expand its pipeline network by building a 278-kilometre bidirectional pipeline linking Takoradi in western Ghana to Tema, a major industrial hub, to supply gas to industries.
Ghana: Russia Agrees To Cooperate On 2,000 MW Nuclear Power Plant
Russia has agreed to work with Ghana to develop a 2,000-megawatt nuclear power plant to strengthen energy security and support industrialisation, Ghana’s Foreign Ministry said.
The commitment followed bilateral talks between Ghanaian President John Dramani Mahama and Russian President Vladimir Putin during the Russia-Africa Summit in Moscow.
Nuclear energy cooperation was among six areas covered by the commitments announced by Ghana.
The ministry’s announcement did not specify the reactor technology, financing arrangements, construction timetable or location of the proposed plant.
Ghana is in the second phase of its nuclear power programme, which involves preparations for construction, including site assessment, engagement with potential vendors and the development of institutional and regulatory capacity.
The country has identified Nsuban in the Western Region as its preferred site for its first nuclear power plant, with Obotan in the Central Region as an alternative.
Detailed site characterisation and environmental studies have faced funding constraints, according to the World Nuclear Association’s October 2026 assessment.
Ghana’s engagement with potential nuclear technology suppliers predates the latest announcement.
In November 2021, Nuclear Power Ghana said 15 vendors from China, the United States, Russia, South Korea, Canada and France had expressed interest in participating in its programme.
Six proposals involved large reactors, while nine concerned small modular reactors, the organisation said at the time.
Russia also operates the Akademik Lomonosov, the world’s only operating floating nuclear power plant. Located at Pevek in Russia’s Chukotka region, the facility supplies electricity and heat and entered commercial operation in 2020. Its two reactors have a combined electrical capacity of about 70 MW.
Ghana’s announcement did not identify floating nuclear technology as an option for the proposed 2,000 MW project.
Ghana has also pursued cooperation with Chinese and U.S. partners on large-reactor and small modular reactor projects.
How the proposed Russian partnership would fit into those existing arrangements remains unclear.
UAE, Nigeria Urge Investment In Resilient Energy Infrastructure
The United Arab Emirates and Nigeria have called for greater investment in resilient energy infrastructure and diversified supplies to strengthen energy security amid geopolitical disruptions.
Speaking during an opening-day ministerial panel at ADIPEC 2026 in Abu Dhabi, UAE Energy and Infrastructure Minister Suhail Mohamed Al Mazrouei said spare capacity, alternative export routes and operational readiness had helped his country maintain supplies during the U.S.-Iran conflict.
“Spare capacity is part of resiliency, and having optionality is part of being resilient,” he said during the session, titled “Energy Security is National Security: Building Resilient Supply in an Uncertain World”.
“Those two things the UAE has worked on years before this war started, and it helped us,” he added.
Al Mazrouei cited the UAE’s pipeline to Fujairah, shipping fleets and preparedness as factors that supported exports during disruption linked to the closure of the Strait of Hormuz.
He said the country had at times increased supplies to some long-term customers to cover shortfalls elsewhere, although he did not disclose export volumes.
The minister praised employees at Abu Dhabi National Oil Company (ADNOC) for maintaining operations during the conflict and acknowledged the impact of higher fuel prices on consumers.
“You need to have a fighter’s DNA in order to deal with crisis,” he said.
Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said his country’s natural gas resources offered an opportunity to strengthen domestic and international energy security through supplies that did not need to pass through Hormuz.
“Natural gas is a critical asset that we intend to use to guarantee energy security and economic transformation in our dear country,” Ekpo said.
He said Nigeria’s gas reserves had risen to 215 trillion cubic feet from 209 trillion cubic feet in 2023, while domestic utilisation had increased.
However, turning those resources into reliable supplies required further investment, he said, inviting investors to develop Nigeria’s gas sector.
Al Mazrouei echoed the call.
“Invest, invest, invest in a resilient infrastructure. That’s what we need,” he said.
The discussion also examined how renewable energy could diversify supplies and reduce exposure to disruptions. Al Mazrouei said many countries, particularly in Africa, were failing to make sufficient use of their renewable resources, citing the need for policies that attract investment.
“There is a huge potential that is not utilised,” he said. “We are not utilising renewable energy enough in many countries, especially in Africa.”
Asked about rising electricity demand from artificial intelligence and data centres, Al Mazrouei said he expected the UAE to have the infrastructure and investment needed to meet future requirements. Ekpo said AI was not currently placing a major burden on Nigeria’s generation system.
Al Mazrouei said the UAE needed additional infrastructure protection and spare capacity, adding that AI could help improve planning and preparedness.
“We need the AI to help us design better, think of different scenarios, and be more resilient,” he said
UAE, Nigeria Urge Investment In Resilient Energy Infrastructure
The United Arab Emirates and Nigeria have called for greater investment in resilient energy infrastructure and diversified supplies to strengthen energy security amid geopolitical disruptions.
Speaking during an opening-day ministerial panel at ADIPEC 2026 in Abu Dhabi, UAE Energy and Infrastructure Minister Suhail Mohamed Al Mazrouei said spare capacity, alternative export routes and operational readiness had helped his country maintain supplies during the U.S.-Iran conflict.
“Spare capacity is part of resiliency, and having optionality is part of being resilient,” he said during the session, titled “Energy Security is National Security: Building Resilient Supply in an Uncertain World”.
“Those two things the UAE has worked on years before this war started, and it helped us,” he added.
Al Mazrouei cited the UAE’s pipeline to Fujairah, shipping fleets and preparedness as factors that supported exports during disruption linked to the closure of the Strait of Hormuz.
He said the country had at times increased supplies to some long-term customers to cover shortfalls elsewhere, although he did not disclose export volumes.
The minister praised employees at Abu Dhabi National Oil Company (ADNOC) for maintaining operations during the conflict and acknowledged the impact of higher fuel prices on consumers.
“You need to have a fighter’s DNA in order to deal with crisis,” he said.
Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said his country’s natural gas resources offered an opportunity to strengthen domestic and international energy security through supplies that did not need to pass through Hormuz.
“Natural gas is a critical asset that we intend to use to guarantee energy security and economic transformation in our dear country,” Ekpo said.
He said Nigeria’s gas reserves had risen to 215 trillion cubic feet from 209 trillion cubic feet in 2023, while domestic utilisation had increased.
However, turning those resources into reliable supplies required further investment, he said, inviting investors to develop Nigeria’s gas sector.
Al Mazrouei echoed the call.
“Invest, invest, invest in a resilient infrastructure. That’s what we need,” he said.
The discussion also examined how renewable energy could diversify supplies and reduce exposure to disruptions. Al Mazrouei said many countries, particularly in Africa, were failing to make sufficient use of their renewable resources, citing the need for policies that attract investment.
“There is a huge potential that is not utilised,” he said. “We are not utilising renewable energy enough in many countries, especially in Africa.”
Asked about rising electricity demand from artificial intelligence and data centres, Al Mazrouei said he expected the UAE to have the infrastructure and investment needed to meet future requirements. Ekpo said AI was not currently placing a major burden on Nigeria’s generation system.
Al Mazrouei said the UAE needed additional infrastructure protection and spare capacity, adding that AI could help improve planning and preparedness.
“We need the AI to help us design better, think of different scenarios, and be more resilient,” he said.
Ghana: ECG Tema Region Replaces 14 Faulty Transformers
The Tema Region of the Electricity Company of Ghana (ECG) has replaced 14 faulty transformers within its operational area as part of efforts to improve electricity supply to customers.
The replacements, carried out from October 28 to November 1, 2026, involved transformers with capacities ranging from 100 kVA to 200 kVA whose faults had disrupted electricity supply.
The exercise was undertaken to support the region’s high- and medium-voltage networks.
The Tema Region operates across nine districts. The replacement exercise covered six districts, including Krobo, Ada, Prampram, Afienya, Tema North and Nungua.
Speaking to energynewsafruca.com after the exercise, Tema Regional General Manager, Ing. Jonathan K. Adjabeng, said faulty transformers had caused supply challenges in the affected areas.
He attributed some of the faults to technical problems and illegal connections.
He said the region remained committed to its mandate of providing safe, reliable and quality electricity, prompting the decision to replace the faulty transformers.
“However, our commitment to our duty is sometimes hindered by issues beyond our control, yet our commitment to resolve issues and surmount challenges remains paramount to us,” Adjabeng said.
ADNOC Chief Urges Stronger Energy Partnerships To Navigate Future Challenges
Abu Dhabi National Oil Company (ADNOC) Managing Director and Chief Executive Dr. Sultan Ahmed Al-Jaber has urged global energy leaders to forge stronger partnerships to navigate future challenges.
Speaking at the opening ceremony of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2026, Al-Jaber said strong, united leadership had helped the United Arab Emirates withstand pressures arising from the conflict in the Middle East during a challenging year.
“We cannot control every situation, we cannot remove every risk, but we can decide what is there to meet it,” he said.
“Energy leadership is not measured by what you produce in good times, it is measured by what you deliver in hard times. The choices we make today will determine the energy landscape a decade from now,” he added.
Al-Jaber called on the industry to apply lessons learned about capacity and forge partnerships that matter, saying the UAE was ready to work with the global energy industry towards shared goals.
“And if you want a partner you can count on, you are in the right home, you are in the right city, in the right country, because when it counts the most, you can count on the UAE,” he said.
ADNOC Signs Major AI Deal With OpenAI And G42 To Boost Efficiency
Abu Dhabi National Oil Company (ADNOC) has signed a multi-year agreement with OpenAI and UAE-based technology group G42 to deploy artificial intelligence across its energy operations, initially focusing on accelerating oilfield development planning and improving commercial decision-making.
The agreement was signed on Monday during the opening of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) at the ADNEC Centre in Abu Dhabi.
The partnership will involve the development of AI-powered systems using OpenAI Frontier, a platform designed to coordinate AI agents across complex business processes.
ADNOC said it would become the first energy company to adopt the technology, which is intended to integrate operational, investment and commercial decision-making across its business, spanning oil and gas production, refining, logistics, sales and trading.
The partnership will initially focus on two applications.
The first will aim to accelerate field development planning by integrating decades of geological and operational data from thousands of wells, multiple reservoirs and hundreds of surface facilities, alongside investment costs and commercial considerations.
The system will combine OpenAI’s reasoning models with ADNOC’s existing ENERGYai platform to assess development plans across entire fields, rather than evaluating individual reservoirs and facilities separately.
ADNOC expects the technology to reduce the time needed to prepare complex field development plans from months to hours, potentially improving capital allocation and project planning. The projected time savings have yet to be demonstrated.
The second application will use interconnected AI agents to analyse crude oil supply, demand, prices and refining margins across ADNOC’s integrated operations.
By combining production forecasts with downstream processing, logistics and trading data, the system is designed to help the company assess the commercial value of crude before production and identify opportunities to improve returns across its value chain.
The systems will combine OpenAI’s GPT models with ADNOC’s proprietary industrial data and operate on G42’s UAE-based AI infrastructure. Human experts will retain oversight of consequential decisions, the companies said.
The agreement builds on ADNOC’s existing investment in artificial intelligence, including ENERGYai, a subsurface AI solution developed with AIQ.
ADNOC has more than 200 AI applications and 70 robotics use cases either deployed or under development across its operations, the company said.
It has also introduced ChatGPT Enterprise to more than 40,000 employees, reporting an adoption rate of more than 97%.
The partnership will also include workforce training and cybersecurity cooperation through OpenAI’s Daybreak Blue initiative, which aims to strengthen protection of critical energy infrastructure.
The agreement marks a further expansion of ADNOC’s use of AI, from specialised technical applications towards coordinated decision-making across its wider energy business.
The companies did not disclose the financial value of the agreement or provide a specific timeline for deploying the new systems. The expected efficiency gains and commercial benefits have yet to be established through the announced applications.
Ghana: Energy Commission Seeks Stronger Energy Ties With UAE
Ghana’s Energy Commission’s Acting Executive Secretary, Adwoa Serwaa Bondzie, has paid a courtesy call on the United Arab Emirates’ Ambassador to Ghana, Dr Abdulla Murad Sulaiman Mohammed Al Mandoos, at the UAE Embassy in Accra.
The visit forms part of the commission’s broader efforts to build strategic international partnerships to support Ghana’s energy transition, attract investment and ensure access to secure, affordable and sustainable energy for all.
Ms Bondzie thanked the ambassador for the warm reception and reaffirmed the commission’s readiness to collaborate with the UAE on energy innovation, strengthen bilateral ties and advance shared energy goals
Zambia: Fuel Prices Rise For November As Kwacha Weakens
Zambia’s Energy Regulation Board (ERB) has increased fuel pump prices for November, citing higher international prices for some petroleum products and a depreciation of more than 3% in the kwacha against the U.S. dollar.
Petrol will sell at 33.06 kwacha per litre, up from 31.46 kwacha, while diesel will rise to 34.45 kwacha from 33.27 kwacha, the regulator said in a statement issued by its Board Chairperson, James Banda, on Saturday, October 31.
Kerosene will increase by 2.32 kwacha to 32.08 kwacha per litre, while Jet A-1 will rise by 2.66 kwacha to 34.51 kwacha per litre.
The revised prices took effect at midnight on October 31 and will remain in force until the next price review, according to the statement.
The regulator said sustained geopolitical tensions in the Middle East had generally pushed international oil prices higher during the review period.
Average international petrol prices rose to $125.84 per barrel from $121.58, while kerosene and Jet A-1 prices increased to $153.22 per barrel from $144.00.
International diesel prices, however, fell to $154.71 per barrel from $160.88.
The ERB said movements in international petroleum prices and the exchange rate were the main factors behind the November pump price adjustments.
Zambia reviews fuel prices monthly.
Russia Discusses Floating Nuclear Power Plants With Four African Nations
Russia’s state nuclear corporation Rosatom said on Friday it was in advanced talks with four African countries about developing floating nuclear power plants to help address electricity shortages.
Rosatom Director General Alexey Likhachev said discussions were underway with Egypt, Namibia, Tanzania and Togo.
Speaking to reporters after a Russia–Africa summit in Moscow, Likhachev said nine African countries had expressed interest in the technology, with talks involving the four countries reaching an advanced stage.
Russia is already building the El Dabaa nuclear power plant in Egypt.
Russia currently operates a floating nuclear power plant at Pevek in its remote Chukotka region. The facility began operations in 2020, and Russia sees potential for more such plants to supply remote areas, including the Arctic.
“A specific feature of several African economies is that some countries are paying a high price for electricity, despite not being in a strong financial position,” Likhachev said.
“This is precisely the area where we are now prepared to supply electricity, using floating nuclear power plants,” he said, noting that 38 African countries have access to the sea and could use the technology.
Likhachev also discussed a uranium extraction project in Namibia and plans for a lithium mine in Mali, which he said had estimated reserves of more than 4,000 tonnes.
Russia has sought for several years to expand its economic and military presence in Africa, where it competes with Western countries and China for influence.
Oman Rescues 25 Crew Members From Burning Oil Tanker In Strait Of Hormuz
At least 25 crew members were safely rescued from a burning crude oil tanker in the Strait of Hormuz on Friday, Al Jazeera reported, citing Oman’s Maritime Security Centre.
The crew were aboard the merchant vessel RITI, the report said.
In a statement carried by Al Jazeera, the centre said the vessel was flying the Panamanian flag. Ship-tracking website MarineTraffic identified it as a crude oil tanker.
The incident came as Iran said it had halted four tankers attempting to cross the Strait of Hormuz using “unauthorised routes”.
It was unclear whether the vessel whose crew were evacuated by Omani maritime authorities was among the four tankers.
Iran’s Islamic Revolutionary Guard Corps (IRGC) said all four vessels were carrying oil and had been halted following “incidents” or after striking mines.
“Two offending oil tankers, one in the eastern part and the other in the western part of the Strait of Hormuz, which were attempting to pass through the unauthorised route, encountered incidents and were brought to a halt in the waters south of the strait,” the IRGC said in a statement on Friday.
Hours later, the IRGC said two more tankers, each carrying more than two million barrels of oil, had “exploded and caught fire” after striking mines while attempting to use an “unauthorised route”.
Meanwhile, Iran’s navy said on Friday that it had struck and destroyed an unmanned enemy craft east of the strait.
Iran has repeatedly warned vessels against passing through the strait without Tehran’s permission. It has claimed responsibility for attacks on ships and said last month that vessels attempting to transit the waterway without authorisation would face “destruction”.
Tehran has asserted control over much of the waterway since the United States and Israel launched their war on Iran on February 28.
Tanzania: TPDC Secures Four Exploration Licences Following Mnazi Bay Gas Discovery
Tanzania has awarded four petroleum exploration licences to the Tanzania Petroleum Development Corporation (TPDC), a day after announcing an estimated 223 billion cubic feet of natural gas discovery at Mnazi Bay in the Mtwara Region.
Vice President Deogratius Ndejembi witnessed the signing in Dar es Salaam on Wednesday, October 28, 2026, as the government moves to expand exploration, strengthen energy security and attract investment into the petroleum sector.
The licences cover Eyasi-Wembere, Lindi–Mtwara, West Songo Songo and Mnazi Bay North, giving TPDC a greater role in exploration while supporting the development of local technical expertise.
Energy Minister Dr Juma Zuberi Homera said the allocation reflected the government’s commitment to strengthening national participation in the petroleum industry and ensuring that Tanzania derives greater economic benefits from its natural resources.
He acknowledged President Samia Suluhu Hassan’s support for petroleum exploration and described the licensing programme as an important step in the country’s long-term energy development.
The signing followed the government’s October 27 announcement of a gas discovery at the Kasa-1X ST2 exploration well in Mnazi Bay, drilled by TPDC and French energy company Maurel & Prom.
The government estimated the discovery at 223 billion cubic feet, while Maurel & Prom reported a preliminary estimate of approximately 200 billion cubic feet, subject to further technical evaluation.
Homera said the well was expected to produce approximately 30 million cubic feet of gas per day for at least 10 years, depending on development and operational requirements.
Two additional development wells, MB-5 and MS-2, were reported to have increased production by more than 65 million cubic feet per day.
Maurel & Prom reported that Mnazi Bay’s production reached approximately 130 million cubic feet per day in October, boosting supplies for electricity generation and other domestic consumers.
According to Homera, more than 80% of gas produced at Mnazi Bay is used to generate electricity at Tanzania Electric Supply Company facilities in Mtwara and Dar es Salaam.
Tanzania’s discovered natural gas resources are estimated at 57.54 trillion cubic feet, comprising 47.13 trillion cubic feet offshore and 10.41 trillion cubic feet onshore.
The government is also advancing construction of an approximately 35-kilometre pipeline connecting the Ntorya gas field to the Madimba processing facility. Construction was reported to be 74% complete.
The pipeline is expected to deliver additional gas for electricity generation, industrial operations and other domestic uses.
Beyond power generation, government figures indicate that Tanzania had established 22 compressed natural gas filling stations and 20 vehicle conversion workshops by September 2026.
Six industries, 21 institutions and approximately 5,000 households were also reported to be connected to natural gas distribution infrastructure.
TPDC is holding discussions with four prospective investors interested in developing small-scale liquefied natural gas projects, three of which are proposed for the Mtwara Region.
Homera said approximately 200 Tanzanians had secured employment with companies involved in the Mnazi Bay drilling programme. Locally owned businesses had also received 35 contracts worth more than TZS20 billion.
TPDC increased its participating interest in the Mnazi Bay venture from 20% to 40% in 2024, with Maurel & Prom holding the remaining 60%. The increased stake is expected to give TPDC a stronger role in project decisions and a greater share of potential earnings.
The Petroleum Upstream Regulatory Authority welcomed the licensing programme and reaffirmed its commitment to ensuring compliance with petroleum legislation, environmental requirements and licence conditions.
It also encouraged greater participation by Tanzanian professionals and companies in exploration activities.
The developments form part of Tanzania’s efforts to expand energy infrastructure and develop its petroleum resources in line with Development Vision 2050. Future production will depend on exploration results, commercial viability, financing and infrastructure availability.
Libya: Armed Group Forces Shutdown Of Crude Pipeline Supplying Zawiya Refinery
An armed group closed a valve on a crude oil pipeline in Libya’s Rayayna area on Friday, forcing pumping operations to stop and disrupting supplies to the Zawiya refinery, the National Oil Corporation (NOC) said.
The 18-inch pipeline supplies the refinery with crude from the Hamada fields, MN-8 and MN-5, and the Tahara field, MN-4, NOC said in a statement.
The sudden valve closure caused a sharp rise in operating pressure, prompting technical teams to halt pumping at 12:30 a.m. to protect the pipeline and production facilities, it said.
NOC warned that a prolonged shutdown would disrupt approximately 15,000 barrels per day of crude intended for the refinery.
The closure also threatened the safety of oil infrastructure and the continuity of refinery supplies, with potential consequences for Libya’s economy, the company said.
NOC condemned the incident and urged the authorities, particularly the Petroleum Facilities Guard, to secure the pipeline, reopen the valve and allow pumping to resume without delay.
It also called for stronger protection of oil facilities and pipelines against attacks that threaten production and the country’s resources.
Ghana: PETROSOL CEO Urges Government To Turn Economic Stability Into Sustainable Growth
The Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael Bozumbil, has urged the government to consolidate Ghana’s economic recovery through consistent policies, prudent public spending and stronger support for indigenous businesses.
Delivering the keynote address at the 50th Annual General Meeting of the Ghana National Chamber of Commerce and Industry (GNCCI) in Accra on Wednesday, October 28, 2026, Bozumbil said improving economic indicators were encouraging but did not mean the economy had fully recovered.
The event, held at the Ghana Shippers’ House in Ridge, was under the theme, “From Stability to Growth: Promoting a Resilient and Future-Ready Private Sector.”
Bozumbil compared economic recovery to a patient whose condition had stabilised but who still required treatment and monitoring. He said the economy’s underlying strength depended on businesses creating jobs, generating income and contributing to national development.
“The first few years of economic stability simply mean that the economic recovery process has started. It does not mean that the economy has fully recovered and that we can return to business as usual.”
A Call For Policy Discipline And Stronger Local Businesses
He urged the government to maintain a predictable policy environment, prepare realistic budgets, spend within its means and build financial buffers against future shocks.
Bozumbil commended the government for signing up to the International Monetary Fund’s Policy Coordination Instrument (PCI) without seeking financing from the Fund. He cautioned against decisions that could reverse economic gains ahead of the 2028 elections.
He called for transparent procurement, effective local-content policies and access to long-term financing to support credible Ghanaian businesses.
Policymakers, he said, should engage more closely with indigenous entrepreneurs who understand the practical challenges of operating in Ghana. Stronger local companies would help sustain employment, improve national competitiveness and provide dependable tax revenue.
Practical Lessons For Future-Ready Businesses
Drawing on PETROSOL’s experience, Bozumbil identified a clear business purpose, quality, credible relationships, financial discipline and continuous improvement as essential to resilience.
He urged businesses to honour their commitments to employees, customers, suppliers and partners, manage cash flow carefully, invest in staff training and adapt to changing market conditions.
Companies should strengthen their balance sheets before expanding and improve governance and financial records to attract investment, he said. He also encouraged businesses to treat regulatory compliance and recognised standards as competitive advantages.
On the energy transition, Bozumbil urged companies to assess diversification opportunities in solar energy and electric vehicle charging, taking account of commercial viability and infrastructure readiness.
He highlighted the importance of developing young talent and expanding opportunities for women in leadership, citing PETROSOL’s Women Network and Next Energy Talent initiatives.
He also encouraged companies to support the growth of their dealers, distributors, suppliers and small contractors.
Three Proposals For The GNCCI
Bozumbil proposed three initiatives for the GNCCI: a capital-readiness programme to prepare small and medium-sized enterprises for investment; a standards and certification support desk; and evidence-based advocacy supported by regular data on business conditions.
Such data, he said, should cover borrowing costs, regulatory bottlenecks, tax changes, logistics costs and delays in government payments.
He urged members to participate actively in the Chamber’s work and mentor emerging entrepreneurs.
Reflecting on his relationship with the Chamber, Bozumbil recalled being named Young Entrepreneur of the Year for 2016 at the Chamber Business Awards held in 2017, before receiving the Chamber Businessman of the Year award in 2024.
He highlighted the importance of developing young talent and expanding opportunities for women in leadership, citing PETROSOL’s Women Network and Next Energy Talent initiatives.
He also encouraged companies to support the growth of their dealers, distributors, suppliers and small contractors.
Three Proposals For The GNCCI
Bozumbil proposed three initiatives for the GNCCI: a capital-readiness programme to prepare small and medium-sized enterprises for investment; a standards and certification support desk; and evidence-based advocacy supported by regular data on business conditions.
Such data, he said, should cover borrowing costs, regulatory bottlenecks, tax changes, logistics costs and delays in government payments.
He urged members to participate actively in the Chamber’s work and mentor emerging entrepreneurs.
Reflecting on his relationship with the Chamber, Bozumbil recalled being named Young Entrepreneur of the Year for 2016 at the Chamber Business Awards held in 2017, before receiving the Chamber Businessman of the Year award in 2024.
Turning Stability Into Opportunity
He said economic stability offered an opportunity that required preparedness, responsible leadership and collective effort. He also paid tribute to PETROSOL’s employees, crediting their diligence and commitment to quality for the company’s progress. “A resilient business is not one that never faces a storm. It is one that prepares before the storm comes and is ready to move when conditions improve,” he said.