Ghana on Tuesday announced a series of reforms to its upstream petroleum sector aimed at attracting fresh investment, as Africa Oil Week (AOW) 2026 opened in Accra.
The measures include reducing the Ghana National Petroleum Corporation’s (GNPC) carried interest from 15% to 10%, extending petroleum agreement terms from 25 to 30 years and changing the structure of signature bonuses.
The government will replace the traditional signature bonus with a one-time payment linked to the post-discovery declaration of commerciality. It will also extend the loss-carry-forward period from five to 10 years.
Energy and Green Transition Minister Dr. John Abdulai Jinapor said the reforms were intended to make Ghana’s upstream sector more competitive and attract international investment.
Explaining the reduction in GNPC’s carried interest, Jinapor said the government would benefit more from taking a smaller share of a significantly larger investment.
Jinapor also highlighted developments in Ghana’s downstream and gas sectors, including the resumption of crude processing at the country’s refinery.
He said the government had secured major agreements involving international oil companies, including a $1.5 billion agreement with Eni and a $2 billion deal involving Tullow and its partners.
Jinapor also placed Ghana’s petroleum reforms within the broader debate over Africa’s energy transition.
With more than 600 million people on the continent lacking access to electricity and about 1 billion without access to clean cooking, he said Africa’s transition must take its development needs into account.
“For Africa, therefore, the energy transition cannot simply be about moving away from one source of energy to the other,” Jinapor said.
“It must rather be about moving our people from energy poverty to energy prosperity.”
He also cited an estimated annual saving of about $500 million from shifting Ghana’s thermal power generation towards domestic natural gas instead of relying more heavily on liquid fuels.
Jinapor pointed to the West African Gas Pipeline, which connects Ghana, Nigeria, Togo and Benin, as an example of how cross-border infrastructure can support energy security and economic development.
He also noted Ghana’s ability to export electricity to neighbouring countries, including Burkina Faso, Togo, Benin and Côte d’Ivoire.
Italian energy company Eni has signed an agreement with MIWEN, a wholly owned subsidiary of Argentina’s YPF, and Uruguayan state oil company ANCAP to enter the OFF-5 offshore exploration block in Uruguay, following approval by Uruguayan authorities.
Eni will operate the block with a 50% stake, while MIWEN will hold the remaining 50%.
The OFF-5 block is currently in its first exploration period, with studies underway to assess its hydrocarbon potential, Eni said.
Eni will use its proprietary technologies to support exploration activities and evaluate the area’s potential, the company said.
Eni’s entry into Uruguay with MIWEN also strengthens its cooperation with YPF, with the two companies partnering on the integrated upstream and midstream Argentina LNG (ARGLNG) project.
Eni said it had also recently agreed to acquire a 40% stake in the adjacent OFF-6 block, which is operated by APA Corporation.
Seplat Energy Plc, a Nigeria-based independent oil and gas company, has increased its liquids production from 14,000 barrels per day in 2010, when it acquired assets from Shell, to about 360,000 barrels per day, Chief Executive Officer Effiong Udofia Okon said.
Gas production has also risen from about 90 million standard cubic feet per day (mmscf/d) over the same period to between 600 million and 700 million mmscf/d, he said.
“From 2010 when Seplat started buying assets from Shell, production was 14,000 barrels of oil per day, gas was 90 mmscf per day. Today we produce about 360,000 barrels of oil liquids per day. So just imagine, from 14,000 barrels to 360,000 barrels. And then on the gas side, you know, Shell old assets, there was about 90 mmscf, today we do roughly about 600-700 mmscf of gas per day. It’s gone up really, really massive,” Okon said.
He was speaking during a fireside chat on the Regional Strategic Outlook on the first day of the three-day Africa Oil Week conference in Accra, Ghana.
Speaking about the company’s growth trajectory, Okon said Seplat listed in 2014, raising $530 million, and had since paid $835 million in dividends to investors, a feat he said few independent oil and gas companies had achieved.
“Today we are worth over $5 billion market cap. When I joined Seplat in 2018 we were just under half a billion dollars market cap. So the numbers themselves speak volumes,” he said.
Looking ahead, Okon said Seplat was targeting close to 500,000 barrels of oil equivalent per day (boepd) by 2030 and more than $1 billion in dividends to shareholders.
He said the next phase of growth would be driven by the company’s newly acquired shallow-water assets, where it is restoring integrity, reliability and availability to top-quartile levels, as well as through aggressive seismic acquisition and exploration drilling aimed at replacing and growing reserves.
On gas monetisation, Okon said that while current gas production serves the domestic market, Seplat was exploring export opportunities through floating liquefied natural gas (FLNG).
He cited a recent 200 million standard cubic feet per day gas deal with UTM Offshore, signed in Abuja.
Okon said Seplat had a strong balance sheet, management team, corporate governance structure and board to take advantage of opportunities as they arise.
“We are really, really hungry and we are not just going to grow just looking at existing portfolio. We are well positioned as well, very strong balance sheet, very strong team, corporate governance, strong board to snap whatever comes available anytime from now. I think that’s sort of the growth story of Seplat,” he said.
Africa has the resources and talent to become one of the world’s most important energy growth regions, ExxonMobil Vice President for Exploration Commercial Claudia Napolitano said.
Speaking during a Regional Strategic Outlook session on the first day of the three-day Africa Oil Week in Accra, Ghana, Napolitano highlighted major oil and gas projects across the continent.
She said current production provided a significant platform for future growth through the development of discovered resources in Nigeria, liquefied natural gas (LNG) projects in Mozambique and emerging exploration opportunities across the continent.
“As we look ahead, I’m optimistic Africa possesses the resources, the talent, the opportunity to become one of the world’s most important energy growth regions,” she said.
Napolitano said the path forward would require investment, innovation, collaboration and leadership.
“If we can bring all those elements together, we will not only unlock Africa’s energy potential but also create lasting economic prosperity and energy security for generations to come,” she added.
Nigeria’s Independent System Operator (NISO) has said greater discipline among operators across the Nigerian Electricity Supply Industry (NESI) is essential to achieving a more stable national power grid.
Speaking at a two-day workshop hosted by Mainstream Energy Solutions Limited at its Jebba Hydropower Plant in Niger State, NISO told industry operators that investments in infrastructure must be matched by strict compliance with technical and operational standards.
Mainstream, which operates the Kainji, Jebba and Zungeru hydropower plants, brought together generation and distribution companies, representatives of the National Control Centre (NCC), the Bureau of Public Enterprises (BPE) and other stakeholders to discuss measures to improve grid stability and power supply reliability.
NISO said grid stability would depend not only on infrastructure investments but also on disciplined dispatch, adherence to technical standards, timely sharing of operational information and professionalism across the sector.
Uman Muhammad Umar, Executive Director of Corporate Services at Mainstream Energy Solutions Limited, said interconnected challenges in the power sector should not be addressed in isolation.
“The greater challenge is ensuring that our institutions do not address interconnected problems in isolation, as a more stable grid will require more information sharing, stronger coordination, compliance with agreed standards, investments in the right infrastructure and, importantly, greater coordination across the value chain,” Umar said.
The Managing Director and Chief Executive Officer of NISO, Engr. A.B. Mohammed, said addressing the challenges facing the electricity sector required more than technical interventions.
“It demands accurate and timely operational information, adequate frequency and voltage resources, effective reserve management, strict compliance with the grid code, operational procedures and discipline,” Mohammed said.
Mohammed concluded the workshop with a tour of the Jebba Hydropower Plant, where he praised the transformation undertaken by Mainstream Energy Solutions Limited.
“I am impressed with what I have seen today at this plant and if this is what is happening at all the other utilities in the sector, then we should expect changes in the very near future,” he said.
Mainstream Energy Solutions Limited said it would continue to support platforms that bring together stakeholders to identify challenges and develop solutions aimed at improving electricity supply to Nigerian households and businesses.
The Gambia has raised fuel pump prices for September, citing higher global oil and refined petroleum product prices and continued uncertainty in international energy markets.
Petrol will now sell at D109.80 per litre, diesel at D120 and kerosene at D112.64, the Ministry of Petroleum, Energy and Mines said in a statement on Tuesday.
In August, petrol prices rose to D104.18 per litre from D101.10 in July, while diesel increased to D116.63 from D113.52.
Kerosene rose to D99.62 per litre from D95.54.
The ministry attributed the September adjustment to continued increases in international crude oil and refined petroleum product prices.
It said conflict and instability in the Middle East had added uncertainty to global oil markets and heightened concerns about potential disruptions to production, refining and transportation.
“As The Gambia relies heavily on imported petroleum products, developments in international markets have a direct impact on the cost of fuel in the country,” the ministry said.
The government acknowledged that higher fuel prices would put additional pressure on households, businesses and transport operators, but said the adjustment reflected prevailing international market conditions and was necessary to maintain a steady supply of petroleum products.
The ministry said the government would continue to monitor developments in international oil markets and take measures when necessary under the country’s established petroleum pricing framework.
“The Ministry appreciates the understanding and cooperation of the public and all stakeholders as the Government continues to respond to challenges in the global energy market,” it said.
Oil marketing companies in Ghana are expected to increase petrol and diesel prices at the pumps from Tuesday, Sept. 1, the Chamber of Oil Marketing Companies (COMAC) said.
Petrol prices are projected to rise by 3.60% to 4.80%, while diesel prices are expected to increase by 0.50% to 2.10%, COMAC said.
The projected increases reflect higher global crude oil and refined petroleum product prices, despite the recent appreciation of the Ghanaian cedi.
The government’s decision to extend its 2 Ghanaian cedi per litre reduction in the regulatory margin on diesel is expected to moderate the increase and cushion consumers, COMAC said.
Liquefied petroleum gas (LPG) prices, meanwhile, are projected to decline by 0.90% to 1.50%.
Average crude oil prices rose 1.75% to $92.11 a barrel from $90.53 during the pricing period, despite the United States announcing what COMAC described as its toughest sanctions against Iran.
The sanctions had limited immediate impact, with unsuccessful mediation efforts by Qatar and Pakistan, as well as uncertainty over shipping through the Strait of Hormuz, keeping prices elevated, COMAC said.
Oil prices are expected to remain high and volatile, with intermittent transit through the Strait of Hormuz continuing to influence the market.
Although Iran and Oman are negotiating a temporary shipping corridor, Iran maintains that normal passage will not resume until U.S. sanctions and the blockade are lifted, COMAC said.
International prices of all major refined petroleum products also increased during the period. Petrol recorded the largest increase, rising 8.86%, followed by diesel at 5.51% and LPG at 3.31%.
NPA price floors
Meanwhile, Ghana’s National Petroleum Authority (NPA) has increased the price floors for petrol and diesel for the first pricing window of September compared with the second pricing window of August.
The price floor for petrol has been set at 14.53 Ghana cedis per litre, up from 13.92 cedis in the previous pricing window.
For diesel, the price floor has increased to 15.60 cedis per litre from 15.19 cedis.
LPG is the only major petroleum product to record a decline in its price floor, falling to 10.85 cedis per kilogram from 10.98 cedis.
Price floors represent the minimum thresholds at which oil marketing companies (OMCs) and LPG marketing companies (LPGMCs) can retail petroleum products during a pricing window.
Under Ghana’s Petroleum Product Pricing Guidelines, all OMCs and LPGMCs are required to comply with the applicable price floors.
The floors exclude premiums charged by international oil trading companies (IOTCs), operating margins of bulk import, distribution and export companies (BIDECs), as well as marketers’ and dealers’ margins.
Ghana reviews petroleum product prices every two weeks, with changes generally reflecting movements in international petroleum prices, the exchange rate and other applicable pricing components.
Zambia’s Energy Regulation Board (ERB) has kept pump prices for petroleum products unchanged for September, despite upward pressure on international oil prices and exchange-rate movements.
ERB Board Chairperson James Banda said in a statement on Monday that international prices for petrol, diesel, kerosene and Jet A-1 had come under pressure due to geopolitical tensions in the Middle East and movements in the exchange rate.
The regulator said it had maintained the prices through measures including the suspension of excise duty, zero-rating of value-added tax and the use of its regulatory price-smoothing mechanism.
The national uniform pump prices per litre will remain:
Petrol: 25.29 Zambian kwacha
Diesel: 26.86 Zambian kwacha
Kerosene: 27.02 Zambian kwacha
Jet A-1: 28.71 Zambian kwacha
Banda said the prices would remain in force until the next scheduled review.
The GOIL Tanker Drivers Union has distanced itself from a planned sit-down strike to protest the poor condition of the Valco Roundabout-Kpone road in Tema.
The chairman of the union, Martin Kwame Asare, told Energy News Africa that members of the union would not participate in the planned strike, reportedly scheduled to begin on Sept. 1, 2026.
Asare said the GOIL Tanker Drivers Union was a separate entity and was not affiliated with any other tanker drivers’ union.
Martin Kwame Asare
He said the union operated directly under the Trades Union Congress (TUC).
“There is an intended sit-down strike for tanker drivers. I am saying on authority that the drivers of GOIL Tanker Drivers are not part of that intended strike. We are a separate entity,” he said.
He urged GOIL tanker drivers to disregard calls to join the strike and report for work from Sept. 1.
“We, tanker drivers of GOIL, we are not part from 1st September, 2nd September, 3rd September, we are not part. I am urging my members to go and do their work,” he said.
Asare also warned that any attempt by other tanker driver unions to prevent GOIL drivers from loading fuel at any depot would be resisted by his members.
The planned sit-down strike is reportedly being organised by some tanker drivers to protest the poor condition of the Valco Roundabout-Kpone road, a key route for fuel haulage in Tema’s industrial enclave.
Ghana’s power transmission company, Ghana Grid Company Ltd. (GRIDCo), and the Electricity Company of Ghana (ECG), together with the Ministry of Energy and Green Transition, on Saturday handed over sites for the construction of a new 161/35kV substation at Ho and the upgrade of the 45-km Asiekpe-Ho transmission line.
The project, estimated to cost GH¢598 million, is expected to improve voltage levels, strengthen power supply and create additional capacity to meet growing electricity demand across Ghana’s Eastern Corridor.
More than 206 underserved communities across 18 districts in the Volta Region are expected to be connected to the national electricity grid upon completion of the project.
The project is expected to be completed within six to 12 months.
Minister for Energy and Green Transition John Abdulai Jinapor said the project formed part of the government’s Big Push Agenda.
“This is what the Big Push is about: investing in infrastructure that expands opportunity, improves livelihoods and supports economic growth,” Jinapor said.
“Our goal is universal electricity access by 2030, with no community left behind.”
He said the intervention was significant because access to electricity remained closely linked to economic activity, public services and household welfare in communities that had historically lacked dependable power supply.
“We are not only expanding access; we are strengthening the systems to ensure reliable and sustainable supply,” Jinapor said.
The launch was attended by the Volta Regional Minister, James Gunu, Member of Parliament for Ketu North, Eric Edem Agbana, and other key stakeholders from the power sector.
South Africa’s state-owned power utility Eskom said on Monday that Unit 1 of the Koeberg Nuclear Power Station returned to service at about 0300 GMT.
The unit was safely taken offline on Thursday following a turbine trip.
Eskom said grid stability was maintained throughout the incident and that it remained committed to ensuring the station continued to operate safely.
“All plant monitoring systems confirmed operating conditions remained stable throughout the event,” Eskom said in a statement issued last Thursday.
“Nuclear safety was never compromised and there was no risk to employees, the public or the environment,” the utility said, adding that Koeberg’s protection and monitoring systems had functioned as designed.
Eskom said the removal of Unit 1 from the grid posed no risk to South Africa’s electricity supply, as it had sufficient generation capacity available and the national grid remained stable and secure.
Unit 1 was last taken offline for major maintenance, which was completed in October 2025.
More than 900 workers at various hydropower projects in Nepal are unaccounted for following devastating flash floods on Wednesday, August 26, according to the country’s Independent Power Producers’ Association.
The floods were triggered by the collapse of a glacier near the Nepal-China border, which sent a massive avalanche of ice and rock into the Lhende Khola River.
The resulting surge of water, mud and debris swept downstream through the Bhotekoshi and Trishuli river systems, destroying homes, roads, bridges and hydropower infrastructure.
About 361 workers have been rescued so far, according to data from the association.
“There has been some success in the ongoing rescue efforts at the Trishuli-3 ‘A’ Hydropower Project tunnel, which was buried under mud and sludge following the flood,” Nepal’s Minister of Energy, Water Resources and Irrigation, Biraj Bhakta Shrestha, said in an update late on Saturday.
Rescue crews have been using excavators to clear mud and sludge and drilled a 6-inch (15-cm) hole through the upper section of the tunnel, he said. Initial inspections showed no debris inside the tunnel. Crews have since pumped air into the tunnel and introduced light and sound, but have yet to establish communication with anyone inside.
“The plan is now to enlarge the existing hole and create a manhole so that the rescue operation can proceed further,” Shrestha said.
“The current target is to reach the main tunnel through the existing tunnel route by tomorrow,” he added.
Earlier on Friday, the Nepali Army released video showing rescuers saving several people from a hydropower plant tunnel in Rasuwa District. Survivors were seen crawling through thick mud before being carried out by emergency responders.
The Nepali government has requested assistance from tunnel rescue experts in India and China to help free workers trapped inside the tunnel. Teams from both countries arrived in Nepal on Saturday.
The United States is providing more than $3.6 million in humanitarian assistance to Nepal following the devastating floods, the State Department said on Saturday, increasing its earlier pledge of $500,000 announced two days earlier.
“The United States is standing with the people of Nepal by providing more than $3.6 million worth of life-saving humanitarian assistance, including up to three months of emergency food assistance to up to 10,000 flood-affected households,” the State Department said on X.
The department said U.S. embassies in Nepal and China were working closely to assist American citizens and support disaster relief efforts.
The State Department announced on Thursday that the United States was “quickly deploying” $500,000 in assistance to affected communities.
Motorists in the Republic of Ghana will pay more for petrol and diesel effective September 1, 2026.
This follows the release of the latest price floor figures by the National Petroleum Authority (NPA), the downstream petroleum regulator, which showed increases in the prices of petrol and diesel compared with the previous figures for second pricing window of August.
The price floor for petrol has been increased from GH¢13.92 per litre to GH¢14.53, representing an increase of about 4.38%, while the price floor for diesel has risen from GH¢15.19 to GH¢15.60, representing a 2.69% increase.
The price floor for Liquefied Petroleum Gas (LPG), however, has been reduced from GH¢10.98 to GH¢10.85 per kilogramme.
In the notice, the NPA reminded all industry players, including Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs), not to sell petroleum products below the approved price floor during the pricing window.
However, the NPA clarified that the price floors exclude premiums charged by International Oil Trading Companies (IOTCs), operating margins of Bulk Import, Distribution and Export Companies (BIDECs), as well as the marketers’ and dealers’ margins of OMCs and LPGMCs.
These margins will be independently determined by the companies in accordance with the prescribed Petroleum Products Pricing Formula (PPPF).
Over the last two pricing windows, prices of refined petroleum products on the international market have surged amid heightened tensions in the Middle East.
Data published by the NPA showed that the international price of petrol increased from $1,034.12 per metric tonne to $1,126.59 per metric tonne, while the price of diesel rose from $1,250.24 to $1,319.11 per metric tonne.
The international price of LPG also increased from $596.63 per metric tonne to $616.39 per metric tonne.
Energy News Africa Ltd., a leading pan-African online energy publication based in Ghana, has extended its warmest congratulations to former Tanzanian Energy Minister Deogratius John Ndejembi on his elevation to the office of Vice President of the United Republic of Tanzania.
Ndejembi was sworn into office on Saturday at State House in Chamwino, Dodoma, after Parliament unanimously approved his nomination on Friday.
He succeeds Emmanuel John Nchimbi, who resigned as vice president earlier this week.
In a statement on Saturday, Executive Director of Energy News Africa Ltd. Michael Creg Afful described Ndejembi’s elevation as welcome news to the organisation and the wider energy industry.
“Your few months in office as Energy Minister marked a significant turning point in Tanzania’s energy sector, particularly with the commissioning of the Julius Nyerere Hydroelectric Power Plant, Africa’s second largest hydroelectric power project,” Afful said.
“Your leadership, commitment and contribution to the development of Tanzania’s energy sector during your tenure are commendable and will continue to inspire confidence in the country’s energy transformation agenda,” he added.
Afful wished Ndejembi divine health, wisdom, strength and guidance as he assumes his new national responsibility.
“As you assume this higher national responsibility, we wish you God’s wisdom, strength and guidance as you serve the people of Tanzania in your new capacity,” he said.
Afful congratulated Ndejembi on his elevation and expressed confidence in his ability to contribute to Tanzania’s national development in his new role.
