LATEST ARTICLES

Ghana: Petroleum Commission, Liberia’s LPRA Sign MoU To Strengthen Petroleum Sector Cooperation

Ghana’s petroleum upstream regulator, the Petroleum Commission, and Liberia’s Petroleum Regulatory Authority (LPRA) have signed a Memorandum of Understanding (MoU) to strengthen regulatory cooperation, knowledge sharing, and stakeholder engagement between the two institutions. The partnership is aimed at helping both countries maximise the benefits of their hydrocarbon resources while navigating the challenges and opportunities presented by the global energy transition. The MoU was signed at the Petroleum Commission’s headquarters in Accra, Ghana. The Chief Executive Officer of the Petroleum Commission, Madam Emeafa Hardcastle, signed on behalf of the Commission, while Hon. Marilyn T. Logan, Chief Executive Officer of Liberia’s Petroleum Regulatory Authority (LPRA), signed on behalf of the Authority.

Ghana: PETROSOL Announces Appointment Of Four Senior Leadership Team Members

PETROSOL Platinum Energy PLC, one of Ghana’s leading oil marketing companies, has announced the appointment of four professionals to its Senior Leadership Team following Board approval after the successful completion of their probation period. The appointments form part of the company’s strategy to strengthen operational excellence, drive sustainable growth, enhance customer service, develop talent, improve governance, and sustain profitability. The newly appointed leaders are:Philip Boamah Assampong – Head of Marketing (Retail), Michael Affum Oseikoh – Head of Finance & Planning, Isaac Debezor – Head of Risk & Internal Audit and Rita Afful – Human Resources Manager. In a statement, the Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael Bozumbil, said the strengthened leadership team reflects PETROSOL’s commitment to building a resilient, innovative, and customer-focused energy company capable of delivering sustainable growth and long-term value to stakeholders. The Board expressed confidence that the appointments will support the achievement of the company’s strategic objectives and future growth. Profiles Philip Boamah Assampong – Head of Marketing (Retail) Philip Boamah Assampong is a seasoned marketing professional with over 15 years of experience in the energy sector, having previously worked with Vivo Energy Ghana (Shell). He was named Best Shell Territory Manager in Africa in 2015. He holds an MBA in Marketing and a Bachelor’s degree in Marketing from the University of Cape Coast. He has also earned certifications in Digital Marketing, Corporate Brand Communication, and Customer Service Excellence. In addition, he is a Certified Management Professional from the Canadian College for Leadership and Management. Michael Affum Oseikoh – Head of Finance & Planning Michael Affum Oseikoh is a Chartered Accountant with extensive experience in finance, auditing, taxation, and financial management across multinational organizations, including Air Liquide and KPMG. He is a member of the Institute of Chartered Accountants, Ghana (ICAG), and the Chartered Institute of Taxation, Ghana. He has also received advanced professional training in taxation and corporate governance from Deloitte, further enhancing his expertise in financial and regulatory management. Isaac Debezor – Head of Risk & Internal Audit Isaac Debezor is an experienced risk and audit professional with more than 12 years of expertise in governance, enterprise risk management, and operational excellence. He is a Certified Risk-Based Internal Auditor and a member of the Institute of Internal Auditors Ghana. His professional expertise is further reinforced by specialized training in the International Professional Practices Framework (IPPF), ISO 9001:2015 Lead Auditing, and Disciplinary Investigations. Rita Afful – Human Resources Manager Rita Afful is a certified human resources professional with experience in multinational organizations, including Tata Consulting, GIZ, and Majorel. She holds the designation of Senior Professional in Human Resources – International (SPHRi), demonstrating her expertise in global human resource management and people development.

Zambia: ERB Maintains Petrol Price, Cuts Diesel, Kerosene And Jet Fuel Prices For June 2026

Zambia’s Energy Regulation Board (ERB) has maintained the pump price of petrol at K27.15 per litre for June 2026, while reducing the pump price of diesel from K33.99 per litre to K32.11 per litre. The price of kerosene has also been reduced from K35.05 per litre to K33.91 per litre, while the price of Jet A-1 fuel has been adjusted downward from K37.98 per litre to K36.68 per litre. The revised prices will remain in effect until the next fuel price review. This was contained in a press release issued by ERB Board Chairperson, James Banda. Mr. Banda attributed the fuel price adjustments to the continued geopolitical tensions in the Middle East.

He noted that the price of petrol continued to rise, while those of diesel and kerosene/Jet A-1 declined.

The average price of petrol increased from US$119.63 per barrel in the previous pricing window to US$124.24 per barrel. Meanwhile, the price of diesel declined from US$195.59 per barrel to US$155.64 per barrel, while the price of kerosene/Jet A-1 fell from US$196.56 per barrel to US$155.45 per barrel.

During the same period, the Zambian Kwacha strengthened slightly against the United States dollar, appreciating from K18.97/US$ to K18.56/US$. The combined effect of movements in international oil prices and the exchange rate formed the basis for the June 2026 fuel price adjustments.

Based on these developments, the ERB decided to maintain the pump price of petrol at K27.15 per litre, while reducing the pump prices of diesel, kerosene and Jet A-1 to K32.11 per litre, K33.91 per litre and K36.68 per litre, respectively.

Russia Bans Jet Fuel Exports As Ukrainian Attacks Cripple Refining

Russia is banning exports of jet fuel through November 30, 2026, as it looks to ensure domestic supply amid intensifying Ukrainian drone attacks on the Russian refining infrastructure. Russia on Monday announced it is temporarily banning jet fuel exports until the end of November to keep sufficient domestic aviation fuel supplies. Supplies under intergovernmental agreements are exempted from the ban, the Russian government said. The ban is not expected to be felt on the tight international jet fuel market as Russia is a small exporter of aviation fuels. But the ban on kerosene exports follows a ban on gasoline exports, in force since April 1, as Russia has seen its refining capacity and capability crippled in recent weeks by intensifying drone attacks from Ukraine. Kyiv has targeted several major refiners and oil export terminals since the war in Iran began, aiming to cripple Russia’s ability to take advantage of the soaring international oil and fuel prices. Last month, Ukraine targeted the 300,000-barrels per day Yaroslavl oil refinery in Russia, escalating the drone attacks on Russian refining and oil exporting assets, Ukrainian President Volodymyr Zelenskyy said. “We are bringing the war back home – to Russia – and that’s only fair,” Zelenskyy said in May. The attack on the Yaroslavl oil refinery, co-owned by Gazprom Neft, was the fourth on the facility in one month, as Ukraine looks to diminish Russia’s refining and export capabilities amid soaring international oil and fuel prices. Since international crude oil prices surged following the war in the Middle East, Russia has boosted its oil revenues as not only prices have jumped, but Russian oil was made desirable in India again, thanks to U.S. waivers for sales of Russia’s crude already loaded on tankers. Ukraine is intensifying attacks on Russian refineries and oil export ports as Kyiv looks to limit Russia’s oil exports and revenues.

Nigeria: Power Infrastructure Vandalism — Why Are We Vandalising Our Own Future?

By :Ademola Wakeel

Every stolen electricity cable is a vote against Nigerian development. The numbers prove it.

Somewhere in Nigeria right now, a man is wielding a hacksaw at the base of a transmission tower. He is not a terrorist. He is probably hungry, almost certainly unemployed, and entirely focused on the few thousand naira he will pocket from selling the aluminium conductors to a scrap dealer down the road.

He does not think about the factory that will go dark when the tower falls. He does not think about the hospital that will switch to a generator it can barely afford to run. He does not think about the 15 billion that Nigeria loses in economic output every single day that major sections of the grid remain down.

He cannot afford to think that far ahead. But we must.

The 2025 data from Nigeria’s electricity sector should shock every Nigerian into paying attention. Eighteen transmission towers were deliberately brought down across the country in a single year — from Shiroro to Port Harcourt, from Kaduna to Benin.

The combined replacement cost exceeded 3.6 billion. Underground cables in Abuja were attacked multiple times, with replacement costs surpassing 5 billion. Across the country’s 12 Distribution Companies (DisCos), revenue losses ran into hundreds of millions of naira each. When the broader economic impact is calculated using the standard Value of Lost Load (VoLL) metric — the output Nigeria fails to produce because electricity is unavailable — the daily GDP loss reaches 15 billion.

Let that number sink in: 15 billion every day.

That is not a power sector problem. It is a national emergency.

We have grown so accustomed to generator noise and darkness that we have stopped asking what it actually costs us. We calculate the price of diesel. We budget for inverter batteries. We accept, with a shrug, that Nigeria cannot keep its lights on. What we rarely stop to calculate is what this persistent darkness is doing to our economic potential — and how much of it is not the result of underfunding or mismanagement alone, but of outright sabotage.

Consider what happens when the Benin–Ughelli/Sapele line goes down — as it did in December 2025, when five towers were toppled in a single incident, wiping out 274 megawatts of load. That is not a technical fault. It is a calculated act of destruction that cost the sector more than 738 million in daily revenue. It shut down homes, businesses, hospitals, and markets across an entire region. It forced factory managers to run diesel generators at four times the cost of grid power. It pushed small businesses closer to closure and forced consumers to pay higher tariffs to cover repair costs.

The person who sold those tower components as scrap metal earned perhaps 50,000. Nigeria lost billions.

This grotesque imbalance is at the heart of why vandalism is not merely a criminal justice issue — it is an economic policy emergency.

The causes are not mysterious. Poverty and unemployment make the copper in a transmission cable look like buried treasure to someone with no income and no prospects. Unregulated scrap metal markets provide ready buyers, with no questions asked. Criminal networks have professionalised the operation, identifying high-value targets and systematically stripping conductors and tower components along entire transmission corridors. In some cases, the attacks are political — deliberate acts of sabotage designed to embarrass the government or settle scores.

But whatever the motive, the consequences fall hardest on ordinary Nigerians. The costs of repairs are ultimately recovered through tariff adjustments, meaning electricity consumers pay for the vandal’s payday. DisCos, unable to remit revenue they never collected, default on payments to power generation companies, worsening the sector’s chronic liquidity crisis. Investors, weighing the risks of a grid that can be brought down by a hacksaw, redirect their capital elsewhere. The jobs that could have existed in industries that never set up shop in Nigeria are the invisible casualties — never counted, never mourned.

There are solutions, and they are well known. Anti-vandal technologies, drone surveillance, and Internet of Things (IoT) sensors along high-risk corridors can raise the cost and difficulty of attacks. The Electricity Act 2023 already provides for stiffer penalties; what is needed is consistent enforcement and the public prosecution of offenders. Most critically, scrap metal dealers must be licensed, regulated, and held accountable for the materials they purchase. A conductor ripped from a live transmission tower does not become legitimate commerce the moment money changes hands.

Communities must also be part of the solution. Traditional rulers, local government councils, and vigilante groups in high-vandalism zones are valuable partners who have barely been engaged. Economic empowerment programmes in the most affected areas can address the desperation that makes infrastructure theft attractive in the first place. Treating the symptom without addressing the underlying poverty is a strategy doomed to fail.

Nigeria cannot industrialise on a vandalised grid. It cannot attract serious investment to a network that criminals dismantle at will. It cannot build a modern economy while 15 billion in productive capacity evaporates every day the lights remain off.

The man with the hacksaw is destroying his own future. So are the scrap dealer who buys from him, the official who looks the other way, and the policymaker who treats this as someone else’s problem.

The grid belongs to all of us. So does the responsibility to protect it.

Ademola Wakeel is an Abuja-based media consultant and publisher.

Ghana Launches Public Facility Sustainable Energy Action Plan To Cut MDAs’ Power Bills

Ghana’s power sector regulator, the Energy Commission, in collaboration with GIZ, has launched the Public Facility Sustainable Energy Action Plan (PF-SEAP) in Accra.

The initiative is a strategic intervention aimed at accelerating renewable energy adoption, improving energy efficiency, and significantly reducing carbon emissions across the public sector.

The PF-SEAP targets Ministries, Departments and Agencies (MDAs), which are among the country’s largest electricity consumers.

By improving energy management in public facilities, the programme seeks to reduce operational costs and address mounting utility arrears that have strained Ghana’s power sector finances.

An Institutional Technical Committee for the PF-SEAP, comprising representatives from key ministries, technical institutions and development partners, has been established to spearhead the implementation of the programme.

The committee will identify and oversee the implementation of renewable energy and energy-efficiency measures, strengthen stakeholder engagement, ensure compliance with sustainable energy policies, and promote data-driven decision-making.

Launching the initiative, Deputy Minister for Energy and Green Transition, Hon. Richard Gyan-Mensah, described the PF-SEAP as a timely response to rising electricity consumption and escalating unpaid utility bills within the public sector.

He stressed that sustainable energy is a critical development indicator and noted that affordable and reliable electricity is essential for socio-economic growth, investment attraction, education and quality healthcare delivery.

Hon. Gyan-Mensah acknowledged the progress made in expanding electricity access and generation capacity but cautioned that significant financial and operational challenges remain, particularly the issue of unpaid electricity bills by public institutions.

He highlighted government reforms aimed at improving revenue mobilisation and enforcement, including directives to disconnect non-paying institutions and migrate public facilities to prepayment metering systems, with the exception of critical national installations.

According to him, these measures are intended to strengthen revenue collection, reduce arrears, and improve the financial sustainability of electricity distribution utilities, which is crucial for maintaining supply reliability and supporting infrastructure expansion.

Acting Executive Secretary of the Energy Commission, Adwoa Serwaa Bondzie, reiterated that public institutions are major energy consumers and that improving energy efficiency is essential to national development.

She noted that the PF-SEAP complements existing initiatives such as the Net Metering Programme and the Accelerator Solar Action Programme by helping institutions reduce energy waste, lower operating costs and transition to cleaner energy sources.

Bondzie urged the Technical Committee to prioritise practical and measurable interventions while securing sustainable financing and strong institutional commitment for the programme’s success.

She added that the initiative aligns with the government’s 24-hour economy and industrialisation agenda, emphasizing that a modern economy depends on reliable, affordable and sustainable energy.

Bangladesh Raises Fuel Prices For Second Time In Six Weeks

  • Bangladesh has increased petrol and kerosene prices by 5 taka per litre.

  • The new prices took effect on June 1, 2026.

  • Petrol now sells at 140 taka (US$1.15) per litre.

  • Kerosene now sells at 135 taka (US$1.10) per litre.

  • Diesel prices remain unchanged at 115 taka (US$0.94) per litre.

    Bangladesh has raised retail fuel prices for the second time in six weeks, increasing petrol and kerosene prices by 5 taka per litre in a move that could add to inflationary pressures in the import-dependent economy, according to Reuters. The new rates, which took effect on Monday, June 1, 2026, set petrol at 140 taka (US$1.15) per litre and kerosene at 135 taka (US$1.10) per litre. Prices of diesel, the country’s most widely used fuel, remain unchanged at 115 taka (US$0.94) per litre. In a notification, the Energy Ministry said the revised rates were determined in line with changes in international petroleum product prices. Bangladesh introduced an automatic fuel pricing mechanism in 2024, under which domestic fuel prices are periodically adjusted based on international fuel prices, exchange rate movements, and import costs. The latest increase follows a fuel price hike in April after the conflict involving Iran pushed up global oil prices, raising the South Asian nation’s fuel import costs. Higher fuel prices are expected to feed into transport and food costs, adding to inflationary pressures already facing consumers.

Ghana:Motorists To Pay More For Petrol From June 1 As Prices Near GH¢16 Per Litre

Motorists in Ghana are expected to pay more for fuel as prices are projected to increase from the first pricing window beginning Monday, June 1, 2026.

Petrol, kerosene, and LPG prices are expected to rise at the pumps, while diesel prices are set to decline marginally.

For this pricing window, the petrol price floor has been pegged at GH¢15.20 per litre, representing an increase of GH¢0.60 from the GH¢14.60 per litre recorded during the second pricing window of May.

LPG will also witness an upward adjustment, with the price floor rising to GH¢13.48 per kilogram from GH¢13.16 per kilogram in the previous window, marking an increase of GH¢0.32.

Diesel, however, is expected to record a slight decline. The price floor for diesel has been set at GH¢15.49 per litre, down by GH¢0.32 from the GH¢15.81 per litre recorded during the second pricing window of May.

The price floor represents the minimum threshold at which Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) can retail petroleum products.

Despite the increase in the petrol price floor, the Chamber of Oil Marketing Companies (COMAC) is projecting pump prices for petrol to rise by between 4.20% and 6.20%.

This could result in petrol selling at as much as GH¢15.92 per litre at the pumps.

LPG prices could also increase by up to 2.24%.

Diesel, however, is expected to decline by between 1.65% and 2.00%.

These projections are based on oil marketing companies that purchase petroleum products on credit from Bulk Oil Distribution Companies (BDCs).

According to the Chamber of Oil Marketing Companies (COMAC), the price movements are attributable to lower global petroleum prices and continued government-industry interventions.

The Gambia: Power Crisis Deepens As Gambia Loses 60MW Of Imported Electricity

Power outages in The Gambia, particularly across the Greater Banjul Area (GBA) and the West Coast Region (WCR), have intensified following a reduction of up to 60 megawatts in imported electricity, officials said. Authorities say the reduction is due to technical issues and fuel shortages affecting generation facilities within the regional power network, as well as constraints on domestic backup generation. The West African nation’s electricity supply relies heavily on imports through the OMVG/WAPP regional power network, with local generation serving primarily as backup during periods of peak demand or supply interruptions. In a statement issued on Saturday, the National Water and Electricity Company (NAWEC) confirmed that electricity imports had been reduced by up to 60 megawatts because of technical problems and fuel shortages affecting generation facilities within the regional network. “This has significantly impacted the country’s main source of power,” the company said. NAWEC described the situation as particularly challenging because domestic backup systems, which are intended to mitigate such disruptions, are not yet fully available at the required capacity. The company cited ongoing maintenance, delays in critical works at key facilities, and operational constraints linked to high fuel costs. As a result, the country is currently facing a power shortfall exceeding 50 percent of electricity demand. Many communities are now experiencing daily, synchronized power outages, with some areas enduring blackouts lasting more than 10 hours. The situation has sparked widespread complaints from citizens, with some accusing NAWEC’s leadership and the government of failing to deliver on promises to ensure a reliable and uninterrupted electricity supply. According to NAWEC, the utility and its regional partners are working to stabilize the situation by accelerating the restoration of backup generation capacity, engaging suppliers to restore and increase electricity imports, and continuously monitoring system performance. Ghana To Add 3,000 MW Of Power Capacity By 2030 The company said it expects a gradual return to normal electricity supply by mid-June 2026, subject to the timely restoration of regional imports and the completion of ongoing maintenance works. NAWEC stressed that the crisis is temporary and reflects a convergence of regional and operational challenges rather than a structural failure of the national electricity system. The utility acknowledged the inconvenience caused and expressed regret over the impact on households and businesses. It assured the public that every effort is being made to restore normal electricity supply as quickly as possible while safeguarding essential services. NAWEC said it remains committed to transparency and will continue to provide regular updates as the situation evolves.

Ghana: TOR Managing Director Edmond Kombat Honoured For Transformative Leadership At Ghana CEOs Summit

The Managing Director of the Tema Oil Refinery (TOR), Ghana’s premier oil refinery, Mr. Edmond Kombat Esq., has been recognised for his transformative leadership at the state-owned refinery during the 10th Ghana CEOs Summit, held at the Kempinski Hotel in Accra.

The award, presented by the Ghana CEOs Network in partnership with the University of Ghana, PwC, Ernst & Young, Deloitte, the Ghana Investment Promotion Centre (GIPC), and Margins Group, cited Mr. Kombat’s “exceptional leadership, strategic vision, and unwavering commitment to advancing operational excellence and transformation at TOR in support of Ghana’s petroleum and energy sector.”

The recognition comes on the back of a significant operational milestone for the refinery, which recently took delivery of approximately one million barrels of Bonga crude oil aboard the MT Cap Felix in Tema.

The shipment, purchased from Shell and supplied through TOR’s tolling partner, Fujairah/Triangle Commodities Trading (TCT), forms part of broader efforts to revitalise the refinery’s operations and ensure a steady supply of petroleum products to the Ghanaian market.

President John Dramani Mahama attended the event as Special Guest of Honour and delivered the keynote address.

Mr. Kombat assumed office approximately one year ago and has since spearheaded efforts to revive the refinery, which had been burdened by significant debt and had remained largely idle for more than six years.

It will be recalled that this portal first reported in late December 2025 that TOR had resumed crude oil refining operations following extensive maintenance works.

Established in 1963, Tema Oil Refinery (TOR) is Ghana’s only oil refinery and plays a critical role in the country’s downstream petroleum sector.

Over the years, the refinery has faced several operational challenges, including intermittent shutdowns resulting from maintenance constraints, financing difficulties, and crude oil supply shortages.

Since assuming office, the new management team has pursued a revitalisation agenda aimed at restoring full operational capacity, improving efficiency, and repositioning TOR as a commercially viable refinery.

The resumption of crude imports and refining activities forms part of ongoing efforts to stabilise domestic fuel supplies and strengthen Ghana’s energy security.

Ship Attacks Continue In Strait Of Hormuz Despite Peace Talks, Says Chevron CEO

Several vessels transiting the Strait of Hormuz have been attacked in recent days, highlighting the “very real” risks facing shipowners in the Persian Gulf, regardless of whether a peace agreement is reached, Chevron Corp. Chief Executive Officer Mike Wirth said, according to Bloomberg.

“There has still been kinetic activity this week, some of which has been reported in the media and some of which has not,” Wirth said during an interview on Bloomberg TV on Friday.

“We see the risks in that environment as still being very real.”

Asked to clarify what had not yet been reported, Wirth said several ships had been attacked.

“There have been vessels in transit that have suffered attacks,” he said. “They may not occur every day, but there have been multiple incidents.”

Chevron would not consider paying a toll to move ships through the Strait of Hormuz, Wirth said. The company currently has six vessels under charter operating in the Persian Gulf waterway, meaning they are owned by third parties.

Global Oil Investment Set To Fall Below $500bn In 2026 – IEA

According to Wirth, it is the shipowners who will decide whether to transit the strait.

This means that shipowners and their insurers must be confident that passage is safe before oil flows can return to normal, regardless of whether the United States and Iran reach a peace agreement in the coming days.

They must also be willing to send vessels back through the strait for trade to resume fully, Wirth said.

“Shipowners have to be comfortable sending vessels back after having ships trapped for months and crews stranded for months,” he said. “They may or may not be willing to move all of their vessels back in.”

Norway Presses EU To Lift Arctic Oil And Gas Drilling Moratorium

Norway is putting pressure on the European Union to remove a moratorium on new oil and gas drilling in the Arctic, where almost two-thirds of its petroleum resources are located, Bloomberg has reported.

According to Bloomberg, Norwegian politicians, civil servants, and environmental and industry lobbyists are increasingly visiting Brussels to influence EU institutions as the bloc prepares to unveil a new Arctic policy by the end of September.

Norway, which is not a member of the EU, is Western Europe’s largest exporter of oil and gas, with production from the Norwegian Continental Shelf meeting roughly 30% of EU and UK gas demand.

“Norway is very active and good at making its voice heard,” the EU’s Special Envoy for the Arctic, Claude Veron-Reville, said in an interview in Brussels on Wednesday, as reported by Bloomberg. “Norway knows very well how to intervene; they are very well organized and very present,” she added.

So far this year, 11 Norwegian ministers have visited Brussels on matters ranging from the Arctic and trade to energy and space.

The blockade of the Strait of Hormuz has given Norway fresh arguments to persuade Brussels to drop the moratorium on new Arctic drilling, as the EU becomes increasingly dependent on Norwegian gas exports.

At the heart of the debate are climate and environmental concerns.

Critics argue that the Arctic region, which is warming three to four times faster than the global average, is particularly vulnerable to exploration activities and that additional drilling could undermine efforts to transition away from fossil fuels.

Critics also contend that a short-term energy crisis is not a sufficient reason to open the Arctic to new drilling.

The EU’s ban on new drilling, introduced in 2021, is consistent with the bloc’s climate obligations, Veron-Reville said, adding that any decision to remove it ultimately rests with EU member states.

The EU defines the Arctic as the region north of the Arctic Circle.

Norway disputes the implications of that definition for drilling activities.

“There are no climate arguments for treating oil and gas produced north and south of a certain line differently,” Norway’s Foreign Minister, Espen Barth Eide, told Bloomberg.

BP Removes Chairman Albert Manifold Over ‘Serious Conduct Issues’

Eide said Norway’s policy is also to refrain from drilling “up in the icy wasteland” because of environmental concerns, but noted that the country has a substantial population and active petroleum operations in the Arctic.

Norway’s Arctic drilling activities are concentrated in the Barents Sea, which lies north of the country’s northernmost coastline.

Norway has also argued that warmer Gulf Stream waters make conditions there comparable to those further south on the continental shelf—a consequence of climate change driven largely by emissions from the fossil fuel industry.

Although Norway’s oil and gas production is expected to decline in the years ahead, the country recently opened 70 new blocks for exploration in the North Sea, Norwegian Sea, and Barents Sea. According to an estimate by WWF, it takes about 18 years from the discovery of an oil and gas field to the start of production in the Barents Sea.

Investors are taking notice.

A number of asset managers joined academics and climate groups in an open letter to the European Commission on Wednesday, defending the moratorium and urging the EU to “maintain and reinforce” protections against new fossil fuel infrastructure north of the Arctic Circle.

The coalition warned that expanded Arctic drilling risks “irreversible environmental damage,” could expose Europe to heightened security threats, and may lock in fossil fuel dependence beyond the EU’s 2050 net-zero target.

Financial-sector signatories include Nordea Asset Management, Norway’s largest pension company KLP, Danish pension providers Sampension, AkademikerPension, and Velliv, as well as lenders Triodos Bank and Cultura Bank.

Ghana: NPA Reaffirms Commitment To Combating Illicit Fuel Smuggling Along Coastline

Ghana’s downstream petroleum regulator, the National Petroleum Authority (NPA), has reiterated its commitment to ending illegal fuel smuggling and trading along the country’s coastal areas. Godwin Kudzo Tameklo Esq., Chief Executive of the petroleum regulatory body, made the remarks during a working visit to the Eastern Naval Command (ENC) in Tema on Tuesday, May 26, 2026, following the arrest and destruction of eight specially modified canoes, known as “dinghies”, as part of ongoing collaboration between the two institutions to combat illegal fuel operations. He was accompanied by the NPA’s Deputy Chief Executive in charge of Technical Operations, Dr. Sheila Addo, and other senior officials of the Authority. Speaking during the visit, Mr. Tameklo applauded the Eastern Naval Command, the Ghana Ports and Harbours Authority (GPHA), and other maritime law enforcement agencies for their efforts in combating smuggling and other illicit fuel-related activities. “The National Petroleum Authority commends the Eastern Naval Command (ENC) for its relentless efforts in combating smuggling and other illicit fuel activities, which have led to the arrest and subsequent destruction of these eight dinghies today,” Mr. Tameklo said. “We believe that the destruction of the dinghies, as carried out at the Western Naval Command on May 15, 2026, and the exercise conducted today, will serve as a strong deterrent to illegal fuel operators who exploit our maritime space for illicit activities.” fuel smuggling along the coastal areas Mr. Tameklo also assured stakeholders of the NPA’s commitment to supporting joint operations, intelligence-sharing, and stakeholder coordination with security agencies to protect and safeguard the downstream petroleum sector. “We want to encourage the Navy, GPHA, and other maritime law enforcement agencies to continue these arrests. We stand ready to support and partner with you to sanitize the sector and stem the tide of illegal transfers of petroleum products and other illicit fuel-related activities in the country,” he added. For his part, the Flag Officer Commanding (FOC), Commodore Solomon Asiedu-Larbi, expressed the Navy’s readiness to continue collaborating with the NPA to prevent such illegal activities along Ghana’s coastline. “We look forward to further collaboration with the NPA to curb these illegal activities on the high seas. We are ever ready to support you, and we also conduct our own intelligence operations. Whenever we make arrests, we will bring them to your attention,” he said. The latest operation underscores the growing resolve of the National Petroleum Authority and the Ghana Navy to clamp down on illegal fuel bunkering and smuggling activities along the country’s coastline. The NPA is confident that the decisive actions taken through these operations will serve as a strong deterrent to individuals and groups engaged in illicit fuel smuggling and related illegal activities. fuel smuggling  

Kenya: Ruto Appoints Kello Harsama As Petroleum PS After Fuel Stock Scandal Fallout

Kenya’s President, William Samoei Ruto, has appointed Mr. Kello Harsama as the new Principal Secretary (PS) for Petroleum, following the recent resignation of Liban Mohamed from the position. Harsama, who previously served at the State Department for ASALs and Regional Development, assumes the role with immediate effect. “His Excellency the President has this afternoon, pursuant to Article 155(4) of the Constitution, effected reassignments within the rank of Principal Secretaries,” a statement issued by the Presidency on Thursday read in part. “The reassignments are intended to fill the vacancy arising from the resignation of the immediate former Principal Secretary for the State Department for Petroleum and to ensure continuity in the administration and coordination of government functions within the affected State Departments.” Ghana: Energy Minister Visits FPSO John Evans Atta Mills And Noble Venturer Offshore Facilities It will be recalled that on April 4, former Petroleum PS Liban Mohamed resigned from his position alongside Energy and Petroleum Regulatory Authority (EPRA) Managing Director Daniel Kiptoo and Kenya Pipeline Company PLC Managing Director Joe Sang. The three stepped down following a scandal in the ministry, in which they were implicated in the alleged manipulation of fuel stock data, leading to the irregular procurement of substandard emergency fuel shipments. The manipulation was reportedly aimed at exploiting soaring global fuel prices and public anxiety, creating a misleading impression of an imminent fuel shortage.