Italian energy group Eni has completed the sale of its Nigerian subsidiary, Agip Energy and Natural Resources (AENR), to Apex Global Energy, the company said on Monday.
Apex is wholly owned by Sterling Oil Exploration and Energy Production Company, an operator in Nigeria’s onshore oil sector.
AENR explores for and produces oil and gas in Nigeria’s onshore and shallow-water areas. It holds a 5% stake in a joint venture operated by Renaissance, which owns 30%.
Nigerian National Petroleum Company Limited holds 55%, while TotalEnergies owns 10%.
Eni said the transaction had received all required regulatory approvals and was part of its strategy to rebalance its upstream portfolio and sell non-core assets.
The company will retain a presence in Nigeria through deepwater exploration and development and its stake in Nigeria LNG.
Tema Oil Refinery (TOR) Managing Director Edmond Kombat has said he believes the International Monetary Fund could reconsider its policy recommendations on state-owned enterprises in developing countries following a visit to the refinery by the fund’s Ghana team last week.
Speaking on Monday during a media briefing as part of the Government Accountability Series, Kombat said the institution generally favoured private enterprise over state ownership of businesses.
He argued that the refinery’s recovery demonstrated that state-owned companies could operate successfully.
“It looks like they’re changing their literature because most of those prescriptions that they give actually haven’t helped developing countries and we are beginning to show that state institutions can work and work very well. And we were happy to receive them and show them that under His Excellency President John Dramani Mahama, state entities are working and are working not as loss-making entities,” Kombat said.
Edmond Kombat, Managing Director of Tema Oil Refinery
He said management remained cautious despite the refinery’s progress.
TOR reported a profit after tax of GH¢1.24 billion for 2025, on a profit before tax of GH¢1.4 billion, Kombat said.
The refinery currently processes 28,000 barrels per stream day. Maintenance work is underway to bring another unit into operation and restore its original processing capacity of 45,000 barrels per stream day, with a medium-term target of 100,000 barrels per stream day.
The refinery had been idle for more than six years and carried substantial debts. Its recent progress has attracted visits from stakeholders, including academic institutions, seeking to assess its recovery.
During the IMF delegation’s visit, led by the fund’s resident representative in Ghana, Adrian Alter Kombat outlined improvements in financial reporting and controls, workforce reforms and efforts to secure a steady crude supply.
He also detailed the operational and financial challenges inherited by management and measures introduced since May 2025 to restore stability.
Kombat said management had relied on internally generated funds to sustain operations, prioritising financial discipline, operational improvements and the rehabilitation of critical facilities.
TOR inherited debts of about $517 million, including about $120 million owed to the government, he said.
“Out of the US$517 million debt we inherited, we owe about US$120 million to government. We are trying to restructure our debt with government,” he said.
Discussions with the government were focused on restructuring the debt and reconciling historical financial obligations between the refinery and the state, he added.
Kombat said management hoped to maintain profitability this year and beyond, citing improved macroeconomic stability and reforms at the refinery.
As part of its long-term strategy, management is considering listing TOR on the Ghana Stock Exchange to attract investment and raise capital for operations and expansion.
He said a listing would allow Ghanaian institutions and other investors to acquire shares in the company and support its recovery.
On operations, Kombat said TOR had processed about five million barrels of crude, including about two million barrels from Ghanaian fields, with the balance sourced externally.
The refinery’s first domestic crude supply came from the Jubilee field through a transaction with Vitol that had been fully paid for, he said.
He also acknowledged the Ghana National Petroleum Corporation (GNPC) for supplying its share of Ghana’s crude allocation to the refinery.
Kombat said Ghana produced about 38 million barrels of crude annually, of which about 11 million barrels represented the government’s share. He expressed hope that GNPC would make its full allocation available to TOR for refining next year to improve feedstock availability and sustain operations.
Domestic refining could improve petroleum product availability, support price stability and reduce Ghana’s exposure to external supply disruptions, particularly during geopolitical tensions such as the conflict in the Middle East, he said.
He also acknowledged government measures aimed at cushioning consumers against changes in petroleum prices.
Members of the IMF delegation expressed appreciation for the progress made and the opportunity to better understand the refinery’s operations.
Ghana’s Public Utilities Regulatory Commission (PURC) has assured electricity consumers that it will scrutinise a planned nationwide meter audit by the state-owned Electricity Company of Ghana (ECG) to ensure adequate safeguards are in place.
PURC Executive Secretary Shafic Suleman said the regulator would review the audit framework and hold further discussions with ECG to protect consumers throughout the exercise.
He said the commission would also consider publishing a simplified version of the framework to help consumers understand the audit’s objectives, procedures and potential implications before it begins.
“We will be engaging ECG further to ensure that in the audit framework, whatever we think the consumer needs to know, we will make it available for the consumer to know,” Suleman said, according to a report by Citinewsroom.
“At the same time, PURC is going to scrutinise the framework once again to ensure that it doesn’t affect the consumer negatively.”
ECG announced on Tuesday, October 20, that it would soon begin a nationwide meter audit across its operational areas to reduce commercial losses, improve revenue collection and combat electricity theft.
The exercise will involve inspecting and verifying prepaid and postpaid meters, Special Load Tariff (SLT) installations and associated wiring to check the integrity of metering systems and ensure accurate measurement and billing of electricity consumption.
ECG said its announcement constituted official notice of the exercise and that it would not issue separate notices, appointment letters or advance notifications.
It urged customers, landlords, estate managers, property managers, facility managers and security personnel to allow authorised ECG personnel access without requiring a separate notification letter.
One oil worker has died and four others remain missing after Borr Drilling’s Prospector 5 rig sank off Mayumba on Gabon’s coast late on Saturday, company officials and a union representative said.
The rig had 115 people on board, company officials said on Sunday.
The body of an Indian national, one of five people initially reported missing, has been recovered, said Sylvain Mayabi Binet, Secretary-General of the National Organisation of Petroleum Employees.
Three Gabonese nationals and one expatriate remain unaccounted for.
Borr Drilling said preliminary findings indicated that the rig suffered a “punch-through event” during preloading operations, causing it to lose stability and sink.
The incident occurred at about 9:40 p.m. local time on Saturday in the Dussafu Marin permit area, near the Mabomont production facility, Gabon’s Ministry of Petroleum and Gas said.
The rig, owned and operated by Borr Drilling, had been contracted to support BW Energy’s offshore drilling operations but had not yet begun drilling.
The ministry has activated a crisis unit, ordered the navy to step up search and rescue operations and launched a technical investigation into the accident, Petroleum and Gas Minister Clotaire Kondja said.
The crisis unit includes representatives from the ministry, the navy, state-owned Gabon Oil, BW Energy and Borr Drilling, he added.
“We are deeply concerned for those who remain unaccounted for and everyone affected by this incident,” Borr Drilling Chief Executive Bruno Morand said.
“Our immediate priority is supporting the ongoing search and rescue efforts and the welfare of all personnel involved.”
Panoro Energy said production had been halted following the incident, although no damage to production facilities or accidental discharges had been reported.
The ministry said no harmful substances had been detected in the surrounding waters.
Pollution-response resources remain deployed to protect the coastline and nearby Mayumba National Park as search and rescue operations continue.
U.S. forces have helped Persian Gulf producers move more than 1.5 billion barrels out of the Strait of Hormuz since the Iran war said during a visit to the Strait of Hormuz on Sunday.
More than 3,000 commercial vessels have successfully transited the Strait of Hormuz with support from CENTCOM forces over the last six months, the U.S. military said.
“We continue to stand shoulder to shoulder with our Gulf partners and the shipping industry,” said Cooper.
“This visit underscores our strong commitment to continued freedom of navigation through the Strait of Hormuz.”
American forces have successfully cleared the Strait of Hormuz’s international shipping lanes of sea mines laid by Iran’s Islamic Revolutionary Guard Corps (IRGC), according to the U.S. Central Command.
The U.S. military said that the 95% success rate of ships navigating the Strait of Hormuz without incident in recent months is “clearly demonstrating that the United States and regional partners control the international waterway.”
Oil flows out of the Strait of Hormuz, and the whole Middle East has recovered in the past two months, according to various tanker-tracking services.
Some estimates put the flows at the Strait of Hormuz at already exceeding pre-war levels, excluding Iranian exports.
However, threats to shipping in the area have not subsided. On the contrary, the escalating Saudi-Houthi tensions could disrupt the recovering flows, while Iran has claimed dozens of hits on tankers in the Persian Gulf and in the Strait of Hormuz.
At any rate, the market continues to price in a prolonged disruption and continued inefficient oil shipments, which have hiked shipping costs to record highs, further raising the cost of crude oil for buyers and ultimately, for the end consumers.
Oil prices fell in Asian trade on Monday, but Brent Crude remained above $115 per barrel, and WTI was still above the $100 mark, as hostilities between Yemen’s Houthis and Saudi Arabia, as well as Iranian attacks on tankers in the Persian Gulf, continue.
The Board Chairman of PETROSOL Platinum Energy PLC and immediate past President of the Ghana Employers’ Association (GEA), Daniel Acheampong, has been honoured for his contributions to the association at its 66th Annual General Meeting in Accra.
The Minister of Trade, Industry and Agribusiness, Elizabeth Ofosu-Adjare, presented a citation to him on behalf of the GEA.
In a statement celebrating Acheampong, PETROSOL said the honour recognised his more than three decades of exemplary leadership, dedicated service and contributions to advancing employers’ interests and developing Ghana’s private sector.
“From his early nomination to the GEA Council as a representative of the manufacturing interest group to his subsequent roles as second vice-president and first vice-president, and his eventual unanimous election as president of the GEA in 2018, his journey reflects a legacy built on integrity, diligence, visionary leadership and a staunch commitment to service,” PETROSOL said.
During his tenure as president, Acheampong helped strengthen the GEA’s voice in national policy advocacy and championed business growth, human resource development and employment creation.
He also contributed to the completion and commissioning of the association’s office building, Employers’ House.
He achieved these results while holding key leadership roles at the Volta Aluminium Company Ltd (VALCO), where he served as chief executive for almost a decade.
PETROSOL said his commitment to constructive dialogue, harmonious industrial relations and private-sector development exemplified the qualities of a distinguished leader.
“At PETROSOL, we are proud to have such an accomplished leader at the helm of our board. His achievements inspire us to pursue excellence, build lasting legacies and remain committed to creating value for our stakeholders and the communities we serve,” the company said.
PETROSOL congratulated Acheampong on his legacy of service, leadership and impact.
“We wish you continued success as you inspire progress within PETROSOL and Ghana’s wider business community,” the statement said.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given 22 firms awarded Petroleum Prospecting Licences (PPLs) 18 months to achieve first oil, warning that it will begin recovering idle blocks on October 30, 2026.
The commission’s chief executive, Oritsemeyiwa Eyesan, said the move was in line with the “drill or drop” provisions of the Petroleum Industry Act 2021.
Eyesan was speaking in Lagos at the inaugural onboarding workshop for successful bidders in the 2022/2023 Mini Bid Round and the 2024 Licensing Round.
The workshop was held under the theme: “From Award to Production: Delivering Nigeria’s Upstream Petroleum Potential Under the Petroleum Industry Act 2021.”
Eyesan said all 22 awardees had paid their signature bonuses. The commission expects their assets to contribute about 250,000 barrels per day to Nigeria’s oil production within five years, she added.
She said the workshop followed a review of previous bid rounds, which found that many licence holders struggled to move from award to production despite meeting their financial obligations, slowing growth in output and reserves.
Eyesan described the 2020 bid round as the most challenging in the commission’s history, citing partnerships formed to secure blocks that subsequently broke down, leaving the assets without stable ownership and operating structures.
Similar problems arose during earlier marginal field rounds and asset divestments between 2010 and 2012, when some companies acquired assets without the technical expertise and business capacity needed to operate them, she said.
Some operators increased production from previously non-producing assets to more than 60,000 barrels per day, Eyesan said. Others saw combined output from mature fields fall to between 20,000 and 30,000 barrels per day from between 60,000 and 80,000 barrels per day under their previous owners.
She said some companies relied on Excel spreadsheets for their oil and gas accounting, which she cited as evidence of weak operating structures.
Some awardees assembled technical teams for the bidding process but disbanded them after securing licences, she added. They then left assets idle while seeking technical partners and financing, before returning about two and a half years later to request extensions.
Eyesan said the commission had issued a circular stating that, from October 30, it would recover blocks where licence holders had failed to undertake activities within the stipulated periods of three years for onshore assets and five years for offshore assets.
Extensions would not be automatic, she said, adding that difficulties securing partners or funding would no longer be accepted as grounds for an extension.
“It’s going to be Drill or Drop. This is standard practice all over the world,” she said.
Emeka Nkemakolam, assistant general manager and head of energy and power at Fidelity Bank, said investors needed a clear funding strategy and evidence of compliance with licence conditions, including obligations relating to rents, signature bonuses and performance bonds.
Such compliance demonstrated that a company was a credible prospective borrower, he said.
Panellists also identified governance and documentation as key requirements for securing finance. They said joint venture documents, shareholder agreements and internal governance arrangements should be finalised within six months and structured to meet lenders’ requirements.
Kenya Electricity Generating Company (KenGen) has appointed Ronoh Kibet Charles as its next Managing Director and Chief Executive, as the power producer seeks to expand renewable energy capacity and diversify its business.
Kibet, currently KenGen’s General Manager for Commercial Services, will take office on February 1, 2027, succeeding Peter Waweru Njenga, who is due to retire.
The Board said in a statement that the appointment followed a competitive recruitment process.
It said the transition period would allow an orderly handover and ensure continuity in implementing the company’s strategic priorities.
Kibet has more than 17 years of professional experience spanning geothermal development, project delivery, business development and commercial strategy.
In his current role, he oversees energy markets, investments, new business and partnerships, as well as marketing, corporate communications and sustainability.
His work has included supporting renewable energy projects, expanding KenGen’s international consultancy services and advancing the Olkaria Green Energy Park, which aims to attract energy-intensive industries through access to geothermal power.
Kibet holds a Bachelor’s Degree in Telecommunication and Information Engineering and a Master’s Degree in project management, both from Jomo Kenyatta University of Agriculture and Technology.
He is a certified Project Management Professional and SAP Project System Consultant. He has also undertaken leadership and executive education programmes at Harvard Business School, IESE Business School in Spain, the University of Cape Town and Strathmore Business School.
His professional affiliations include the Engineers Board of Kenya, the Institution of Engineers of Kenya and the Geothermal Association of Kenya. He is also a recipient of the Order of the Grand Warrior of Kenya.
Kibet will take over as KenGen pursues investment in geothermal generation, industrial development and technical services alongside its core electricity generation business.
Geothermal power is less dependent on seasonal rainfall than hydropower, making it an important part of Kenya’s electricity supply. Its expansion requires investment in exploration, drilling, steam-field development, power plants and associated infrastructure.
KenGen is also seeking to attract industrial investment through the Olkaria Green Energy Park and generate additional revenue by providing geothermal consultancy services internationally, including in Eswatini.
The company reported a profit after tax of KSh10.48 billion for the 2025 financial year, up from KSh6.8 billion in 2024. It attributed the improvement to stronger business performance and operational efficiencies.
The board said it expected Kibet to build on these results, strengthen performance and develop the company’s workforce.
Njenga, who became managing director and chief executive in August 2023, will remain in office until his retirement and the formal handover.
The Board thanked him for his service, citing the company’s financial performance, business diversification and expansion of international geothermal consultancy services during his tenure.
The Offshore Petroleum Association of South Africa (OPASA) has welcomed the government’s decision to uphold environmental authorisation for proposed exploration drilling in Block 3B/4B in the Orange Basin off the country’s west coast.
In a statement to Energy News Africa Ltd, the association said the decision by the Minister of Forestry, Fisheries and the Environment marked an important step towards greater regulatory certainty for South Africa’s offshore petroleum sector.
Regulatory certainty was essential to attracting the long-term investment needed to explore and develop offshore resources responsibly, OPASA said.
The association said this required a thorough and transparent process in which projects were carefully assessed and stakeholders had meaningful opportunities to raise concerns. Such a process would build confidence among communities, regulators and investors, it added.
“Exploration is a critical step in establishing whether the country holds commercially viable offshore oil and gas reserves, with the potential to strengthen energy security and support economic growth, job creation, skills development and downstream industry,” OPASA said.
The association said it remained committed to advocating for responsible offshore development that protected the environment, addressed stakeholder concerns and supported South Africa’s long-term economic and energy needs.
The decision follows appeals by 47 individuals and organisations, including Greenpeace Africa, against a 2024 authorisation allowing up to five exploration wells.
The minister dismissed the appeals but added conditions concerning assessments of food security and coastal livelihoods.
Greenpeace Africa criticised the decision, which remains open to judicial review.
TotalEnergies operates Block 3B/4B, with QatarEnergy among its partners. The block covers about 17,581 square kilometres in the Orange Basin, where discoveries off neighbouring Namibia have encouraged further exploration. In announcing its entry into the block in 2024, TotalEnergies linked the investment to its exploration efforts following the Venus discovery in Namibia.
Oilfield services company SLB, formerly known as Schlumberger, has signed an agreement with the state-owned South African National Petroleum Company (SANPC) to support digital transformation and skills development in South Africa’s energy sector.
The agreement, signed during the recently concluded African Energy Week 2026 in Cape Town, aims to strengthen technical capabilities and promote innovation, technology and knowledge transfer.
It establishes a framework for cooperation between the companies, with a focus on building the digital skills needed to support South Africa’s evolving energy sector.
The agreement was signed by SLB’s Managing Director for Central, East and Southern Africa, Miguel Baptista, and its Digital Manager for the region, Eniola Oludemi, alongside SANPC Chief Executive Godfrey Moagi and Exploration Executive KB Trivedi.
For decades, the global transport system has been inextricably linked to the petroleum value chain. Today, that paradigm is fracturing. The transition to Electric Vehicles (EVs) is no longer a distant environmental aspiration; it is an economic and industrial reality today. For African nations, particularly Ghana, this shift represents a critical juncture. Every EV journey turns a transport decision into an energy decision, shifting demand from imported liquid fuels to the domestic electricity grid.
A photo of EV charging station
The Global EV Situation
Global demand for electric mobility has reached unprecedented levels. According to the IEA Global EV Outlook 2026, global electric car sales grew by 20% in 2025, exceeding 20 million units. This milestone means that 25% of all new cars sold worldwide were electric.
Demand is highly concentrated but rapidly expanding into emerging markets:
China: Despite a slight slowdown due to the halt of a trade-in scheme, EVs accounted for a staggering 55% of all car sales in 2025.
Europe: Driven by stringent EU CO2 standards, sales rose by over 30%, capturing a 28% market share.
United States: Sales remained stable at just under 10%, impacted by the expiration of EV tax credits.
Emerging Markets: Southeast Asia saw annual sales more than double, reaching a 20% market share led by Vietnam, Indonesia, and Thailand. Latin America grew 75%, led by Brazil and Mexico.
On the supply side, the market is heavily dominated by Asian manufacturing. In 2025, Chinese automakers supplied 60% of global electric car sales. European and North American automakers trailed significantly, each responsible for approximately 15% of global sales.
Share of Global EVsIncrease in Adoption
The trajectory for EV adoption points toward exponential growth, fundamentally altering global energy consumption patterns. Under current stated policies, the IEA projects that global EV electricity demand could exceed 1,500 Terawatt-hours (TWh) by 2035, a massive leap from the approximately 180 TWh consumed in 2024.
However, it is crucial to put this growth in context. Because battery electric vehicles (BEVs) use about 70% less energy per kilometre than gasoline internal combustion engine (ICE) vehicles, this 1,500 TWh will account for only about 4% of global final electricity demand in 2035. EV efficiency means the transition is highly energy-efficient, provided the underlying grid infrastructure can handle the localized load.
Source: IEA Outlook for Energy Demand 2025/2026Effects on Energy Usage and Infrastructure
The most profound impact of the EV revolution is the shift from the petroleum supply chain (crude oil, refining, and filling stations) to the electricity value chain (generation, transmission, distribution, and charging stations). EVs are not simply vehicles; they are mobile electricity consumers.
Globally, the infrastructure is racing to catch up. By the end of 2025, private light-duty vehicle (LDV) charging points reached over 43 million supporting a stock of around 76 million electric LDVs. Public charging infrastructure also expanded rapidly, exceeding 7 million points globally, though it remains geographically skewed with China hosting over 65% of installations.
This shift introduces new systemic requirements. The charging station is becoming the new filling station, directly connected to the grid. This requires major upgrades to distribution transformers and transmission capacity along with smart charging. Smart charging allows EV demand to be shifted away from peak periods, transforming vehicles from mere consumers into flexible assets that can stabilize the electricity system.
Building a national charging network and upgrading grid capacity requires substantial capital. Promoting EV adoption without strengthening the electricity distribution system carries severe risks: localized network congestion, overloaded transformers and frequent outages.
The EV Situation in Africa
Africa is at a critical juncture. For instance, Ghana launched its National Electric Vehicle Policy in 2023, outlining a preparatory phase (2024–2026) followed by accelerated uptake (2027–2035). The Energy Commission’s 2025 outlook projected a system peak demand of 4,125 MW and consumption of 25,836 GWh. Introducing thousands of EVs will add a significant new layer of demand.
The structural risk for African economies is adopting a transition framework that installs new renewable capacity or imports EVs without addressing existing grid infrastructure, revenue recovery architectures and tariff regimes.
If African countries merely import electric cars, they become passive consumers of the transition, replacing dependence on imported petroleum with dependence on imported EVs and batteries. The goal must be an electricity-powered mobility economy. This includes developing local capabilities in vehicle and battery assembly, charging equipment manufacturing, software diagnostics and battery recycling.EV and the Petroleum Industry
The progressive replacement of ICE vehicles with EVs will inevitably alter the petroleum economy. While petroleum will remain essential for aviation, shipping, and heavy industry, demand for road transport fuels will face a structural decline.
For African nations heavily reliant on petroleum, the implications are vast:
Fiscal Impact: A potential decline in petroleum-tax revenues, which historically fund road infrastructure and general budgets.
Foreign Exchange: A positive reduction in the forex required to import refined liquid fuels, improving the balance of payments.
Downstream Sector: Oil Marketing Companies (OMCs), fuel stations, and traditional vehicle maintenance businesses face an existential threat if they do not adapt.
The appropriate response is preparation, not resistance. OMCs must diversify into energy services, turning traditional filling stations into integrated mobility hubs that offer fast charging, solar-backed battery storage, and retail services.
Implications for African Policymakers
The global EV revolution is fundamentally an energy and industrial transition. For Ghana and the wider African continent, the success of this transition will not be measured by the number of EVs imported, but by the resilience of the infrastructure built to support them.
Policymakers must adopt an integrated approach: EV Policy + Generation Planning + Transmission/Distribution Investment + Tariff Reform.
Furthermore, leveraging existing policies and frameworks requires institutional discipline to ensure that international capital inflows translate into genuine technology transfer and local industrial capacity. Only then can Africa move from being a site of green energy deployment to a hub of green industrial production.
Zambia’s state-owned power utility, ZESCO Limited, has attributed a prolonged power outage in parts of Lusaka to planned maintenance involving the replacement of ageing electricity poles.
The outage affected customers in Kabulonga Extension, parts of Ibex Hill, Kalikiliki, Mtendere, Kalingalinga, Mass Media, areas off Kamloops Road and part of Salama Park on Thursday, October 22, 2026.
In a statement issued on Friday, ZESCO apologised for the disruption, acknowledging its impact on businesses, particularly small and medium-sized enterprises such as barbershops, salons and restaurants.
The utility said the maintenance work was aimed at preventing frequent equipment failures and ensuring a safe, reliable and stable electricity supply ahead of the rainy season.
“Zesco sincerely apologises for the inconvenience caused and thanks its valued customers for their patience and understanding,” the statement said.
Senegal is offering 104 oil and gas blocks to investors as it seeks new upstream contracts to accelerate exploration and production, Energy and Petroleum Minister El Hadji Abdourahmane Diouf said at African Energy Week 2026 in Cape Town.Of the 113 blocks in Senegal’s reorganised acreage, four are under contract and five have been allocated to Eni for studies, he said.Diouf said Senegal hoped to sign several contracts and demonstrate that it remained open to investment and committed to international procedures.Senegal reorganised its upstream acreage into 113 blocks in March 2026, comprising 65 onshore and 48 offshore blocks. It also signed an agreement with Eni to assess the oil and gas potential of five offshore blocks.The country is also seeking partners to develop the Yakaar-Teranga gas project alongside national oil company Petrosen, which took full control of the project after Kosmos Energy withdrew in April 2026.Diouf said the project would supply gas for power generation, industrial uses, including fertiliser production, and exports. Its development would require a clear structure, credible buyers and a defined investment programme, he added.“Our strategy is to build the value chain from the well to the factory, with gas at the heart of our industrial ambition,” he said.In the downstream sector, Diouf highlighted plans for a second refinery to process crude from the Sangomar field, at an estimated cost of $2 billion to $3 billion.Société Africaine de Raffinage (SAR) and Turkey’s Yamata signed a memorandum of understanding in New York on September 23, 2026, for the refinery, which would have a capacity of 4 million tonnes a year.Diouf said the project would create further investment opportunities in storage, logistics, distribution and petrochemicals.He urged investors to review Senegal’s geological data, engage with its technical teams and submit proposals backed by the financial and operational capacity to carry them out.He also called on investors to involve Senegalese companies and workers from the outset, with support from the national local content monitoring committee.“Capital must earn a return. Senegal must gain a stronger economy. The partnership we seek must serve both purposes,” he said.Diouf said Senegal also hoped to expand cooperation under the MSGBC alliance beyond Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea. He did not identify the additional countries being considered.
Ghana’s National Petroleum Authority (NPA) allowed some unlicensed fuel tankers to continue transporting petroleum products to avert potential shortages in parts of the country, its chief executive said.
Godwin Edudzi Tameklo told Parliament’s Public Accounts Committee last week that the authority had sought to balance regulatory enforcement with the need to maintain fuel supplies.
His explanation followed concerns raised in the Auditor-General’s 2025 report, which found that only 2,514 of more than 4,000 Bulk Road Vehicles (BRVs), commonly known as fuel tankers, were licensed by the NPA.
Tameklo said Ghana had nearly 5,000 petroleum retail outlets served by just over 4,000 tankers. Strict enforcement without considering supply needs could disrupt deliveries, he said.
“What we’ve done prior to this audit is to ensure a balancing act — whilst ensuring regulation, how do we also ensure that petroleum products ultimately get to people?” he said.
He said consumers expected fuel to be available regardless of the regulatory challenges involved in delivering it, underscoring the authority’s responsibility to maintain supplies.
Tameklo explained that NPA licensing enabled the authority to monitor and track tankers, while the Driver and Vehicle Licensing Authority (DVLA) was responsible for certifying their roadworthiness.
He said enforcing compliance was easier in Accra than elsewhere in the country, adding that the NPA could still track petroleum product movements through freight cost claims.
The association said this required a thorough and transparent process in which projects were carefully assessed and stakeholders had meaningful opportunities to raise concerns. Such a process would build confidence among communities, regulators and investors, it added.
“Exploration is a critical step in establishing whether the country holds commercially viable offshore oil and gas reserves, with the potential to strengthen energy security and support economic growth, job creation, skills development and downstream industry,” OPASA said.
The association said it remained committed to advocating for responsible offshore development that protected the environment, addressed stakeholder concerns and supported South Africa’s long-term economic and energy needs.
The decision follows appeals by 47 individuals and organisations, including Greenpeace Africa, against a 2024 authorisation allowing up to five exploration wells.
The minister dismissed the appeals but added conditions concerning assessments of food security and coastal livelihoods.
Greenpeace Africa criticised the decision, which remains open to judicial review.
TotalEnergies operates Block 3B/4B, with QatarEnergy among its partners. The block covers about 17,581 square kilometres in the Orange Basin, where discoveries off neighbouring Namibia have encouraged further exploration. In announcing its entry into the block in 2024, TotalEnergies linked the investment to its exploration efforts following the Venus discovery in Namibia. 
Tameklo said Ghana had nearly 5,000 petroleum retail outlets served by just over 4,000 tankers. Strict enforcement without considering supply needs could disrupt deliveries, he said.
“What we’ve done prior to this audit is to ensure a balancing act — whilst ensuring regulation, how do we also ensure that petroleum products ultimately get to people?” he said.
He said consumers expected fuel to be available regardless of the regulatory challenges involved in delivering it, underscoring the authority’s responsibility to maintain supplies.
Tameklo explained that NPA licensing enabled the authority to monitor and track tankers, while the Driver and Vehicle Licensing Authority (DVLA) was responsible for certifying their roadworthiness.
He said enforcing compliance was easier in Accra than elsewhere in the country, adding that the NPA could still track petroleum product movements through freight cost claims.