The Electricity Company of Ghana has confirmed that it has begun investigations into reports of rapid credit depletion on prepaid meters, following a directive from the sector minister.
According to the company, although its meters undergo rigorous testing and calibration to ensure accuracy before deployment, it has welcomed the minister’s order to further probe the matter.
In a statement signed by William Boateng, Director of Communication, the power distributor said it has formally requested the Ghana Standards Authority to independently and randomly select and test its meters in both laboratory and field environments.
ECG noted that the Authority’s findings will form part of its final report to the Honourable Minister.
The company said the move to involve GSA is driven by its commitment to transparency and accountability.
“ECG remains committed to responsive, transparent, and accountable service delivery, and we appreciate our valued customers and stakeholders for their continued support and cooperation,” the statement added.
Zambian President Hakainde Hichilema has expressed concern that the ongoing conflict in the Middle East could undermine the country’s efforts to make fuel more affordable for citizens.
According to the President, the government had managed the petroleum sector well prior to the U.S. and Israeli coordinated attack on Iran. He said he hopes the conflict will end soon, as it poses a risk of pushing fuel prices higher.
U.S. President Donald Trump on Monday said the Iran war, projected to last four to five weeks, could go “far longer.”
The conflict is already raising concerns among oil-importing nations, with Brent crude rising to $84 per barrel on Monday afternoon.
“We all hope this war will come to an end quickly so that it doesn’t shoot up the price of fuel and distort our inflation issues and the cost of doing business,” President Hichilema said on Monday while addressing more than 1,800 councillors from across Zambia.
“The economy is stabilising — macro-stability, fiscal consolidation, single-digit inflation down from 23 percent,” President Hichilema noted.
“We are only concerned about the war in Iran now, which could drive fuel prices up. You have seen what we have been doing to the pump price.”
He said the government has been working to reduce pump prices.
“The price of fuel is based on only three parameters, councillors. Part of this interaction is for you to gather data so you can take it back to your wards and explain to the people.
“The first parameter is the exchange rate, which we are managing well. The second is the cost of transporting fuel — that’s why we are pushing for more pipeline capacity, as it is cheaper than road transport.
“The third is the international price of fuel… the war in Iran is causing increases in fuel prices. That is beyond us. We don’t support war, we don’t support conflict, but that is beyond us.”
Ghana’s Minister for Energy and Green Transition, Hon. Dr. John Abdulai Jinapor (MP), on Tuesday convened a high-level meeting with key stakeholders across the country’s petroleum upstream and downstream sectors to assess the potential impact of the ongoing crisis in the Middle East on the nation’s fuel security.
The engagement brought together representatives from the National Petroleum Authority (NPA), BOSTEnergies, Tema Oil Refinery (TOR), Ghana National Petroleum Corporation (GNPC), Oil Marketing Companies (OMCs), Bulk Import, Distribution and Export Companies (BIDECs), and other industry players.
In a statement issued by Richmond Rockson Esq., Head of Communication, the ministry said discussions focused on heightened global oil market volatility, potential supply chain disruptions, freight cost fluctuations, and possible implications for domestic pricing and consumer welfare.
Hon. Dr. Jinapor underscored the need to be proactive in safeguarding Ghana’s energy supply reliability. He emphasized that contingency measures are being reviewed and strengthened to minimise any potential adverse effects on the country arising from the current geopolitical tensions.
The Minister directed the National Petroleum Authority, as the downstream sector regulator, to intensify market surveillance and maintain close coordination with industry stakeholders to ensure that any anticipated supply disruptions are mitigated swiftly and effectively.
He further instructed all sector agencies to maintain adequate strategic fuel stocks, enhance monitoring of international developments, and ensure stable nationwide distribution.
The ministry assured the public that government remains fully committed to protecting Ghana’s energy supply security.
“All necessary measures are being explored to ensure sustained fuel availability and to mitigate undue hardship on consumers. The Ministry will continue to monitor developments closely and provide timely updates as the situation evolves,” the statement said.
On Tuesday afternoon, Brent crude rose to $84 per barrel, sparking concerns among oil-importing countries, including Ghana.
U.S. President Donald Trump on Monday said the ongoing war against Iran, an OPEC member, which is projected to last 4 to 5 weeks, could go “far longer.”
Tanzanian President Her Excellency Samia Suluhu Hassan on Tuesday laid the foundation stone for the Oil Receiving and 15 Storage Tanks Construction Project at the Port of Dar es Salaam, Kigamboni.
The project forms part of the government’s broader strategy to expand and modernise the port, strengthening its position as a key trade gateway for Tanzania and the wider Indian Ocean region.
Minister for Transport Prof. Makame Mbarawa said that in addition to constructing the oil storage tanks, the government is also undertaking the construction of Berth Number One, which will be 500 metres long and capable of receiving two vessels simultaneously, each with a carrying capacity of approximately 50,000 tonnes.
He added that these ongoing improvements are aimed at increasing the port’s capacity to handle larger cargo volumes, reducing vessel congestion, and enhancing the competitiveness of the Dar es Salaam Port within the Indian Ocean region.
According to Prof. Mbarawa, between July and December last year, the Dar es Salaam Port handled a total of 19.99 million tonnes of cargo within six months.
He said the government aims to increase cargo handling capacity to 40 million tonnes by the end of the 2025/2026 financial year—an achievement expected to improve port efficiency and boost its contribution to national economic growth.
The Government of Kenya has assured the public that the country has sufficient petroleum product stocks to meet both domestic and regional demand, despite the ongoing U.S.–Israeli coordinated attacks on Iran, which have disrupted global oil and gas supplies and pushed crude oil prices upward.
According to Energy and Petroleum Cabinet Secretary Opiyo Wandayi, the country currently holds adequate reserves and has scheduled imports expected to arrive through the end of April 2026.
“As of today, the country has sufficient stocks to cover both domestic consumption and the region. We have scheduled imports for delivery up to the end of April 2026 and, therefore, as it stands, we are assured of security of supply,” he said, as quoted by Capital FM Kenya.
Following the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei, tensions in the Middle East have escalated, resulting in the shutdown of several oil and gas facilities and the closure of the Strait of Hormuz, a strategic waterway that carries about 20 percent of global oil and gas shipments.
As of Tuesday afternoon, Brent crude prices had risen to $84 per barrel, while U.S.-traded WTI crude stood at $76 per barrel.
“We are closely monitoring the fluid situation as it evolves whilst engaging with our G-to-G suppliers for contingency planning,” Wandayi added.
“We wish to assure the public and all stakeholders that the Ministry remains alert and shall continue taking necessary actions to ensure uninterrupted supply.”
Rubis filling station tank explosion has claimed the life of a 41-year-old boilermaker from Kitwe, the Daily Mail has reported.
The victim, James Banda, died on Sunday morning at the Intensive Care Unit (ICU) of Kitwe Teaching Hospital (KTH), where he had been receiving treatment following the incident.
According to the report, Mr. Banda was engaged on Friday around 15:00 hours to work on an underground fuel tank at the station located opposite Mukuba Pension House.
The report stated that the victim was grinding the underground petrol tank when fire came into contact with the fuel, triggering an explosion.
Copperbelt Province Police Commanding Officer Mwala Yuyi said the blast left Mr. Banda with severe burns and fractured hands. He added that the explosion also damaged the grinder he was using, as well as the iron sheets of the shelter at the filling station.
Mr. Yuyi said the victim was rushed to KTH, where he remained under treatment until he passed away.
Renovation works at the filling station have since been halted, with residents expressing concern over the safety of workers at the facility.
Ghana’s indigenous oil marketing company, GOIL PLC, has hosted a three-member delegation from the Japan External Trade Organization (JETRO) at the company’s head office in Accra, the capital of Ghana.
The JETRO team was led by its Director-General, Mr. Tsubasa Nakagawa.
Discussions focused on potential collaboration in the development of liquefied petroleum gas (LPG) storage infrastructure and the rollout of electric vehicle (EV) charging points across GOIL’s extensive nationwide service station network.
Welcoming the delegation, the Group Chief Executive Officer and Managing Director of GOIL PLC, Mr. Edward Abambire Bawa, emphasized the company’s commitment to infrastructure development that delivers sustainability, quality, and value for money to consumers. He noted that strong international partnerships remain critical to advancing Ghana’s evolving energy landscape and supporting the country’s transition to cleaner and more efficient energy solutions.
JETRO is a Japanese government-related organization that promotes trade and investment between Japan and the rest of the world. It supports Japanese companies seeking international partnerships and facilitates foreign direct investment, technology transfer, and industrial cooperation across sectors including energy, manufacturing, and infrastructure development.
The engagement signals growing interest in Ghana’s energy infrastructure modernization and highlights opportunities for collaboration between Japanese firms and GOIL in areas that support energy security and sustainable mobility.
Ghana’s downstream petroleum regulator, the National Petroleum Authority (NPA), is urging the public to remain calm over the potential impact of rising Middle East tensions on domestic fuel supply, assuring that the country currently has adequate petroleum stocks to last more than five weeks.
According to the regulator, Ghana has petrol reserves sufficient for five weeks and diesel stocks that can last six weeks.
“As of last Friday, we have diesel stocks to last us over five weeks — roughly 5.3 weeks. And for petrol, we have almost 6.8 weeks,” Abass Ibrahim Tasunti, Director of Economic Regulation and Planning at the NPA, told Accra-based Joy News.
The US–Israeli coordinated attack on Iran, a member of the oil cartel OPEC, has disrupted oil shipments, triggering a surge in global oil prices over the weekend.
Many oil-importing countries fear the situation could lead to fuel shortages and sharp hikes in pump prices, prompting them to put in place measures to mitigate the potential fallout.
Mr. Tasunti stressed that Ghana’s current fuel stock levels are not a response to the unfolding crisis but part of the NPA’s routine mandate to ensure uninterrupted supply.
“Even without this war, we always ensure that we have a plan to make petroleum products available for consumers in the country. So this is not something being done because of the war; it is something we do regularly. It is one of NPA’s major mandates,” he explained.
He added that the Authority oversees the daily discharge of imported petroleum products, while domestic production also contributes to supply.
He noted that the Sentuo Oil Refinery has been consistently producing since June 2025, supplying petroleum products to the local market. Additionally, the Atuabo Gas Processing Plant continues to produce and distribute liquefied petroleum gas (LPG).
Mr. Tasunti further revealed that several vessels are currently waiting to discharge at the Tema Anchorage, including two cargoes of diesel and two cargoes of petrol, with additional imports already scheduled.
While assuring the public of supply stability, the NPA acknowledged that Ghana—being a net importer of petroleum products—will inevitably feel the effects of global oil market disruptions.
Qatar has halted its production of liquefied natural gas on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and U.S strikes against it, prompting precautionary shutdowns of oil and gas facilities across the Middle East.
Qatari LNG production is equivalent to about 20% of global supply and plays a major role in balancing both Asian and European markets’ demand for the fuel.
As a wave of attacks in the Middle East stretched into a third day, they also resulted in the suspension of operations at Saudi Arabia’s biggest domestic oil refinery after a drone strike, most oil production in Iraqi Kurdistan and several Israeli gas fields, throttling exports to Egypt.
State-owned QatarEnergy, 82% of whose clients are Asian, was set to declare force majeure on its LNG shipments after Iranian drone attacks on facilities in the sprawling Ras Laffan complex. The complex hosts Qatar’s gas trains — massive processing units that supercool natural gas into liquid form for export by ship.
Drones also hit the Mesaieed industrial zone in Qatar’s south that lies far from the gas fields but is home to petrochemical and manufacturing facilities.
Natural gas prices soared with the benchmark European price, the Dutch front-month contract at the TTF hub, up 46% as of 1426 GMT.
Oil prices jumped as much as 13% intraday to above $82 a barrel, the highest since January 2025, as the conflict ground shipping to a near halt in the Strait of Hormuz, through which a fifth of global oil supply flows.
State oil giant Saudi Aramco’s 550,000 barrels per day (bpd) Ras Tanura refinery, which was shut as a precautionary measure according to an industry source, is part of an energy complex on the kingdom’s Gulf coast which also serves as a critical export terminal for Saudi crude oil.
In Iraqi Kurdistan, which exported 200,000 barrels of oil per day (bpd) via pipeline to Turkey’s Ceyhan port in February, companies including DNO, Gulf Keystone Petroleum, Dana Gas, and HKN Energy have stopped output at their fields as a precaution, with no damage reported.
Offshore Israel, the Israeli government instructed Chevron to temporarily shut down the giant Leviathan gas field where it is in the process of expanding capacity to around 21 billion cubic metres a year as part of a $35 billion export deal to Egypt. A spokesperson for Chevron, which also operates the Tamar gas field offshore Israel, said its facilities were safe.
Energean shut down its production vessel serving smaller Israeli gas fields.
In Iran, explosions were heard on Saturday in Kharg Island, which processes 90% of Iran’s crude exports. It was unclear how the facilities were impacted.
Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, pumps about 4.5% of global oil supplies. Iran’s output is about 3.3 million barrels per day of crude, plus 1.3 million bpd of condensate and other liquids.
Global oil prices rose early Monday morning after at least three oil vessels were attacked near the Strait of Hormuz on Sunday, as Iran continues to launch strikes across the Middle East in response to ongoing attacks by the US and Israel, the BBC reported.
Two vessels were struck, and an “unknown projectile” reportedly “exploded in very close proximity” to a third oil tanker, according to the UK Maritime Trade Operations Centre (UKMTO).
Iran, a member of the OPEC oil cartel, closed the Strait of Hormuz over the weekend. The strait is a critical waterway through which around 20% of the world’s oil and gas is shipped.
International shipping has almost come to a standstill at the strait’s entrance, with analysts warning that a prolonged conflict could push energy prices even higher.
In early trading in Asia on Monday, global oil prices jumped by more than 10% before those gains eased later in the morning.
At 02:00 GMT, Brent crude was more than 4% higher at $76.16 (£56.53) a barrel, while US-traded oil was also up by around 4% at $69.67.
“The market isn’t panicking,” Saul Kavonic, head of energy research at MST Research, told the BBC.
“There is more clarity that, so far, oil transport and production infrastructure haven’t been primary targets by any side,” he added.
“The market will be watching for signs that traffic through the Strait of Hormuz returns, which would see oil prices subside again.”
However, some analysts have warned that prices could exceed $100 per barrel in the event of a prolonged conflict.
On Sunday, the OPEC+ group of oil-producing nations — which includes Saudi Arabia and Russia — agreed to increase output by 206,000 barrels per day to help cushion any price rises.
File photo of shipping in the Strait of Hormuz, which has now ground to a halt
However, some experts doubt this would have a significant impact.
Edmund King, president of the AA, warned that the disruption could drive up petrol prices worldwide.
“The turmoil and bombing across the Middle East will surely disrupt global oil distribution, which will inevitably lead to price hikes,” he said.
“The magnitude and duration of pump price increases depend on how long the conflict continues.”
Iran’s Islamic Revolutionary Guards Corps (IRGC) said three tankers from the UK and US had been “struck by missiles and are burning.”
The UKMTO reported “multiple security incidents” across the Arabian Gulf and Gulf of Oman and has advised ships to “transit with caution.”
At least 150 tankers have dropped anchor in open Gulf waters beyond the Strait of Hormuz, although a handful of Iranian and Chinese vessels have passed through, according to ship-tracking platform Kpler.
“Because of Iran’s threats, the strait is effectively closed,” Homayoun Falakshahi of Kpler told the BBC.
“Vessels have taken precautionary measures not to enter, as the risks are too high and insurance costs have skyrocketed.”
He added that the US would likely try to protect shipping routes, which, if effective, could prevent a major oil price spike. However, if the strait remains closed for an extended period, prices could go “much, much higher.”
Zambia’s Energy Regulation Board (ERB) has reduced fuel prices following an appreciation of the local currency, the Kwacha.
The ERB noted that since the last price review on 31 January 2026, international prices for petrol, diesel, kerosene, and Jet A-1 have all increased.
According to the ERB, petrol rose by 4.22% from US$67.47/bbl to US$70.32/bbl, diesel increased by 7.85% from US$76.89/bbl to US$84.74/bbl, while kerosene/Jet A-1 went up by 6.70% from US$78.68/bbl to US$83.95/bbl.
Domestically, however, the Kwacha appreciated by 4.17% against the US dollar in February 2026, strengthening from an average of K19.80/US$ at the beginning of the month to K18.98/US$ by month-end.
As a result, the ERB has revised pump prices downward. Petrol has been reduced from K27.88/litre to K26.61/litre, diesel from K24.50/litre to K23.25/litre, kerosene from K22.24/litre to K21.06/litre, and Jet A-1 from K23.80/litre to K22.39/litre.
Three oil tankers have been damaged off the Gulf coast following U.S.–Israel airstrikes on Iran on Saturday, Reuters reported, citing officials of the shipping association BIMCO.
Iran on Saturday announced it had closed the Strait of Hormuz, a critical channel for global shipments of oil, gas, and other goods.
“The U.S.–Israeli attack on Iran dramatically increases the security risk to ships operating in the Persian Gulf and adjacent waters,” said Jakob Larsen, chief safety and security officer at BIMCO, as quoted by Reuters. “Ships with business connections to U.S. or Israeli interests are more likely to be targeted, but other ships may also be targeted deliberately or in error.”
A Palau-flagged oil tanker under U.S. sanctions was struck on Sunday off the Musandam peninsula in Oman, injuring four people, according to the country’s maritime security centre, which did not specify the source of the strike.
The Marshall Islands-flagged crude oil tanker MKD VYOM was also hit by a projectile off the coast of Oman while carrying cargo, two maritime security sources said. One source noted the vessel was struck 44.4 nautical miles northwest of Muscat.
The British maritime agency UKMTO said a laden merchant vessel reported an explosion in the same area.
In the Jebel Ali Port in the United Arab Emirates, a separate tanker narrowly escaped damage after debris fell from an aerial interception during overnight Iranian attacks targeting Gulf states, maritime security sources said. A third oil-bunkering tanker was also damaged off the UAE coast, according to two shipping sources.
The U.S. Department of Transportation’s Maritime Administration warned vessels to keep clear of the Strait of Hormuz and the wider Gulf of Oman due to potential Iranian retaliatory strikes.
“Any U.S.-flagged, owned, or crewed commercial vessels operating in these areas should maintain a standoff of 30 nautical miles from U.S. military vessels to reduce the risk of being mistaken as a threat,” the administration said.
Security sources also warned of the potential deployment of naval mines by Iranian forces in the narrow lanes of the Strait of Hormuz. According to earlier Reuters reporting, Iranian forces loaded naval mines onto vessels in the Persian Gulf in June, raising concerns in Washington that Tehran was preparing to enforce a blockade.
Maritime industry sources said they expect war-risk insurance premiums to surge when underwriters reassess cover on Monday. War-risk insurance is mandatory for operating in designated danger zones, and the Lloyd’s of London market already classifies Iran, the Gulf, and parts of the Gulf of Oman as high-risk regions.
Fuel prices are set for a marginal increase in the first pricing window of March, which begins on March 1, according to projections by the Chamber of Oil Marketing Companies (COMAC).
The price of petrol (PMS) is projected to rise by 2.89% per litre, while diesel is expected to increase by 0.86% per litre.
However, the price of Liquefied Petroleum Gas (LPG) is expected to decrease by 0.44%.
The projected changes are largely driven by rising international petroleum product prices, with petrol increasing by 4.58%, gasoil rising by 1.66%, and LPG falling by 1.05%.
On the domestic front, the local currency, the cedi, appreciated marginally against major international trading currencies, strengthening from GHS 11.099 to GHS 11.049 per US dollar, representing a 0.45% gain.
This movement comes amid ongoing efforts by the Ghana government and the Bank of Ghana to stabilise the foreign exchange market through monetary tightening and improved forex inflows from exports.
During the last pricing window of February, the average pump price of petrol was GH¢11.05 per litre, diesel was GH¢12.31 per litre, while Liquefied Petroleum Gas (LPG) sold at GH¢12.16 per kilogram. The adjustments reflected global crude oil price movements and shifts in the international refined products market.
Oil marketing companies will, from tomorrow, begin adjusting pump prices to align with prevailing market conditions and the latest pricing indicators.
For the first pricing window of March, the regulator has set the price floor at GH¢10.46 per litre for petrol, GH¢11.42 per litre for diesel, and GH¢9.38 per kilogram for LPG. These benchmarks are part of measures aimed at ensuring fair pricing and market stability within the downstream petroleum sector
The Board of the Bui Power Authority (BPA), Ghana’s second-largest state-owned power generation company, has paid a working visit to its 50MW peak solar photovoltaic (PV) project under construction at Galigu in Yendi in the Northern Region to assess progress of work.
The project contractor briefed the Board on developments so far, including the installation of ground-mounted solar panels, construction of a 5km access road, and development of staff accommodation.
Board Chairman Ambassador Kwadwo Nyamekye-Marfo stressed the need for the contractor to strictly adhere to the project schedule, noting the Authority’s target to commission 35MW under Phase I of the 50MWp project by May 2026, in line with the vision of President John Dramani Mahama.
He emphasised that meeting the deadline is non-negotiable, given the project’s role in strengthening supply to the national grid and supporting economic growth in Northern Ghana.
Prior to the site visit, the Board members, including Acting Chief Executive Officer Ing. Ekow Eduakwa Sam, paid a courtesy call on the King and Overlord of the Dagbon Traditional Area, Yaa Naa Abukari II, at the Gbewaa Palace in Yendi as part of their familiarisation tour of the Authority’s key projects in the region.
Welcoming the delegation, the Yaa Naa noted that consistent engagement between public institutions and traditional authorities is vital to the success of major infrastructure projects.
He reiterated that northern Ghana has strong potential to serve as the country’s solar power generation hub, citing its abundant solar resources, high irradiation levels and strategic location.
He also expressed confidence in the leadership of the BPA Board, management and staff, acknowledging their efforts to expand Ghana’s renewable energy capacity and improve energy security.
The Board further paid a courtesy call on the Galgu Naa, who encouraged the Authority to make every effort to complete the Yendi Solar Power Project on schedule to deliver the expected benefits to Yendi and the country at large.
