Founded in 2006, Genser Energy has grown into one of West Africa’s integrated energy companies, supplying electricity to industrial customers and utilities while investing in natural gas infrastructure.
Before Oppenheimer Partners’ investment, the company had developed five operating power plants and a 325-km natural gas pipeline network, becoming a key supplier of energy to Ghana’s industrial sector.
During the investment period, Genser expanded its infrastructure by adding about 110 km of natural gas pipeline, constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea and entering Côte d’Ivoire through cross-border electricity exports.
“This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,” Baafour Asiamah Adjei, the company’s founder, president and chief executive, said.
Chairman Nana Osae Nyampong said the buyback would enable the company to focus on its next phase of growth.
“As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,” Nyampong said.
The transaction comes as infrastructure investors increasingly target Africa’s energy sector, where rising industrial demand and regional power integration are driving investment in gas pipelines, power generation and cross-border electricity trade.
Genser said it remains positioned for further expansion through continued investment in strategic energy infrastructure across West Africa.
The company operates more than 310 megawatts of installed generation capacity and owns a 436-km privately developed natural gas pipeline network in Ghana.
It is also completing major midstream projects, including a gas conditioning plant and a natural gas liquids export terminal, while supplying power to industrial customers and utilities and participating in regional electricity exports.
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Ghana: Genser Energy Buys Back Oppenheimer Partners’ Stake As Investor Exits After Five Years
Genser Energy has bought back the entire stake held by Oppenheimer Partners, completing the investment firm’s exit after five years and marking a new phase in the Ghanaian energy company’s regional expansion.
The privately owned energy infrastructure company said it had redeemed the full shareholding previously held by OP Energy Holdings Limited, ending Oppenheimer Partners’ investment in the business.
Oppenheimer Partners first invested in Genser Energy as a preferred shareholder in 2021 before converting its holding into common equity in 2023, when it acquired a 40.4% stake.
The latest transaction concludes that investment and returns the shares to Genser Energy.
Founded in 2006, Genser Energy has grown into one of West Africa’s integrated energy companies, supplying electricity to industrial customers and utilities while investing in natural gas infrastructure.
Before Oppenheimer Partners’ investment, the company had developed five operating power plants and a 325-km natural gas pipeline network, becoming a key supplier of energy to Ghana’s industrial sector.
During the investment period, Genser expanded its infrastructure by adding about 110 km of natural gas pipeline, constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea and entering Côte d’Ivoire through cross-border electricity exports.
“This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,” Baafour Asiamah Adjei, the company’s founder, president and chief executive, said.
Chairman Nana Osae Nyampong said the buyback would enable the company to focus on its next phase of growth.
“As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,” Nyampong said.
The transaction comes as infrastructure investors increasingly target Africa’s energy sector, where rising industrial demand and regional power integration are driving investment in gas pipelines, power generation and cross-border electricity trade.
Genser said it remains positioned for further expansion through continued investment in strategic energy infrastructure across West Africa.
The company operates more than 310 megawatts of installed generation capacity and owns a 436-km privately developed natural gas pipeline network in Ghana.
It is also completing major midstream projects, including a gas conditioning plant and a natural gas liquids export terminal, while supplying power to industrial customers and utilities and participating in regional electricity exports.
Founded in 2006, Genser Energy has grown into one of West Africa’s integrated energy companies, supplying electricity to industrial customers and utilities while investing in natural gas infrastructure.
Before Oppenheimer Partners’ investment, the company had developed five operating power plants and a 325-km natural gas pipeline network, becoming a key supplier of energy to Ghana’s industrial sector.
During the investment period, Genser expanded its infrastructure by adding about 110 km of natural gas pipeline, constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea and entering Côte d’Ivoire through cross-border electricity exports.
“This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,” Baafour Asiamah Adjei, the company’s founder, president and chief executive, said.
Chairman Nana Osae Nyampong said the buyback would enable the company to focus on its next phase of growth.
“As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,” Nyampong said.
The transaction comes as infrastructure investors increasingly target Africa’s energy sector, where rising industrial demand and regional power integration are driving investment in gas pipelines, power generation and cross-border electricity trade.
Genser said it remains positioned for further expansion through continued investment in strategic energy infrastructure across West Africa.
The company operates more than 310 megawatts of installed generation capacity and owns a 436-km privately developed natural gas pipeline network in Ghana.
It is also completing major midstream projects, including a gas conditioning plant and a natural gas liquids export terminal, while supplying power to industrial customers and utilities and participating in regional electricity exports.
U.S. Says It has Assisted More Than 1,000 vessels Through Strait Of Hormuz In Past Three Months
U.S. forces have assisted more than 1,000 commercial vessels transiting the Strait of Hormuz over the past three months despite what Washington described as Iranian aggression, U.S. Central Command (CENTCOM) said on Tuesday.
In a post on Facebook, CENTCOM said the assisted transits were continuing as of Tuesday and that the southern shipping route through the Strait of Hormuz remained open to commercial traffic.
“The southern route through the Strait of Hormuz remains free and open for all commercial vessels seeking to transit the international waterway,” the command said.
The Strait of Hormuz is one of the world’s most strategically important maritime chokepoints, carrying a significant share of global seaborne crude oil and liquefied natural gas exports.
The recent conflict involving the United States, Israel and Iran disrupted global oil supplies, driving up fuel prices and affecting economies around the world.
The U.S. military has stepped up its presence in the region in recent months to help safeguard commercial shipping amid heightened tensions involving Iran and concerns over maritime security.South Africa: Eskom Backs Plan For Independent Transmission Operator, Seeks Safeguards For Finances
South African state-owned power utility Eskom has welcomed the government’s decision to establish an independent, state-owned Transmission System Operator (TSO), as proposed by the Eskom Restructuring Task Team (ERTT).
Eskom said its board supports President Cyril Ramaphosa’s vision of an independent TSO that would own the country’s transmission assets at an appropriate stage of the electricity sector reform process.
“The board has a clear fiduciary responsibility to ensure that Eskom remains financially sustainable so that energy security can continue to support South Africa’s economic growth. For this reason, we fully support the pragmatic approach of treating electricity sector reforms as a carefully sequenced process with clear stage gates,” Eskom Board Chairman Mteto Nyati said.
As Phase II of the reforms begins, Eskom said implementation should safeguard the utility’s financial sustainability and address lender requirements, financing arrangements and contractual obligations.
Nyati said establishing an independent TSO would be a significant event for Eskom’s lenders and would require careful engagement as the implementation framework is developed.
“Successful reform and a financially sustainable Eskom are complementary objectives that will help support a stable, sustainable and investment-ready electricity sector,” he said.
Eskom also welcomed the ERTT’s proposal to establish a dedicated workstream to address municipal debt owed to the utility.
“Addressing municipal arrear debt, which has reached 119 billion rand, remains critical to Eskom’s long-term financial sustainability and its ability to meet existing debt obligations,” Nyati said.
He said progress in resolving the debt would be an important consideration in developing a sustainable pathway towards a fully independent TSO.
Eskom said it remains committed to supporting South Africa’s electricity market reforms while ensuring the implementation process strengthens the long-term sustainability of both the utility and the broader electricity sector.
Zambia: Energy Ministry Says Power Generation Capacity Grew By Record Amount Over Past Five Years
Zambia has added more electricity generation capacity to its national grid over the past five years than during any other five-year period in the previous 15 years, the Ministry of Energy said.
Installed electricity generation capacity increased to 4,576 megawatts in 2026 from about 3,100 megawatts in 2021, an increase of 1,476 megawatts, the ministry said.
By comparison, projects completed between 2011 and 2021 added about 987 megawatts of generation capacity to the national grid.
The increase was driven by the completion of the remaining generating units at the Kafue Gorge Lower hydropower plant, together with a rapid expansion of solar generation and other power projects commissioned across the country.
Installed solar generation capacity rose to about 841 megawatts from around 88 megawatts in 2021. The government is targeting 1,000 megawatts of installed solar capacity by the end of the year.
The ministry said the expansion of generation capacity is continuing, with several major projects under construction or at advanced stages of development.
These include Maamba Phase II, the Gwembe Solar Project, Evergreat Thermal Power Station, Ezra Thermal Power Station and the Presidential Constituency Energy Initiative.
As these projects are completed, Zambia’s installed generation capacity is expected to increase further, the ministry said.
President Hakainde Hichilema has set a target of increasing the country’s installed electricity generation capacity to 10,000 megawatts by 2031.
If the current pipeline of projects is completed as planned, the next five years are expected to deliver the largest expansion of electricity generation capacity in Zambia’s history, supporting energy security and economic growth, the ministry said.
Ghana: NPA Says Fuel Availability Remains Priority Despite GHS 520 Million Revenue Hit
Ghana’s National Petroleum Authority (NPA) said on Monday its priority is to ensure fuel supplies remain available nationwide, as the government monitors global oil prices and absorbs an estimated GHS 520 million ($X million) revenue shortfall from a 2-cedi reduction in fuel prices this month.
Abbas Ibrahim Tasunti, the NPA’s Director of Economic Regulation and Planning, said the regulator’s mandate is to ensure transparent and fair pricing while maintaining a steady supply of petroleum products across the country.
“Our major concern is to ensure that the product is available in the first place before we even talk about the price of the product,” Tasunti said in an interview with TV3 monitored by this publication.
Tasunti said the NPA seeks to ensure that importers and refiners recover their costs so they can continue supplying the domestic market.
“If the refinery is to refine, it should be able to cover its costs so it can continue to buy the product and supply it to us,” he said.
He said the NPA implements government pricing directives and will continue to monitor the market to ensure petroleum products are priced fairly while remaining available across the country.
“If we don’t have the product, price is not an issue,” Tasunti said. “This is not peculiar to Ghana. Every country faces this challenge.”
His comments come as the government monitors Brent crude prices after the decline in global oil prices slowed following April.
Earlier this week, government officials said the recent 2-cedi reduction in fuel prices would reduce state revenue by more than GHS 520 million this month.
Tasunti said the NPA’s overriding objective is to ensure consumers have reliable access to fuel.
“Our focus is to make sure consumers always have products to power their economy,” he said.
Ghana: Tema Oil Refinery Recruits Over 300 Newly Graduated Engineers Into Permanent Jobs, Says MD
Ghana’s premier refinery, Tema Oil Refinery (TOR) Ltd, has recruited 300 newly graduated engineers into permanent positions, Managing Director Edmond Kombat Esq said on Saturday.
“We took a deliberate decision last year to invest in the future of Ghana’s refining industry by recruiting a record 300 young engineers into permanent positions,” Kombat said.
According to him, the newly recruited engineers are receiving the training and practical experience needed to become the next generation of refinery experts.
The refinery had suspended crude oil processing for more than six years and was generating revenue mainly from the storage of refined petroleum products for customers. However, the new management, led by Kombat, embarked on a major rehabilitation programme, and the refinery is now processing 28,000 barrels of crude oil per day.
Kombat said that during maintenance of the Residue Fluid Catalytic Cracking (RFCC) Unit, the refinery engaged 287 temporary workers. In addition, 35 local subcontractors working on the project collectively employed 654 temporary workers to carry out critical works across the refinery.
“These initiatives have directly created opportunities for 1,542 Ghanaians through permanent and temporary employment, providing them with skills, income, dignity and renewed hope. Each of these jobs represents a family supported, a career launched and a future strengthened. This is the true impact of the reset and restoration of Tema Oil Refinery,” he said.
Kombat said the figures represent far more than employment statistics.
“They represent families whose livelihoods have been sustained. They represent young engineers and technicians who now have the opportunity to build meaningful careers. They represent experienced professionals passing on invaluable knowledge to the next generation,” he added.
Trump Criticises Exxon, Chevron Over Profits, Urges Lower Gasoline Prices
U.S. President Donald Trump on Monday criticised ExxonMobil and Chevron for making what he described as “too much money” from higher fuel prices linked to the conflict involving Iran, and urged the oil majors to lower gasoline prices for consumers.
“I don’t like it,” Trump told reporters on Monday, three days after the companies reported strong second-quarter earnings, according to Reuters.
“Chevron, too much money. ExxonMobil, too much. Too much money,” Trump said.
“They better cut the retail price, the consumer price,” Trump told reporters, adding that oil prices would “drop through the floor” when the conflict involving Iran ends, Reuters reported.
Exxon Mobil and Chevron did not immediately respond to Trump’s remarks.
Trump has frequently used public pressure to influence corporate behaviour, often targeting companies through social media posts or comments to reporters.
During his first term, he urged automakers to keep production in the United States, criticised defence contractors over costs and called on pharmaceutical companies to lower drug prices.
Since returning to office, he has continued that approach, using the presidency to try to influence corporate decisions without always relying on formal government action.
Earlier on Monday, Trump criticised Chevron Chief Executive Mike Wirth over his appearance on Fox News’ Sunday Morning Futures with Maria Bartiromo, saying Wirth failed to credit his administration’s support for the U.S. oil industry.
“The only thing he conveniently forgot to mention is that, without the genius, foresight, strength, and stability of the TRUMP Administration, the Oil Industry, and our Country itself, would be DEAD!” Trump wrote on his Truth Social platform.
“As an example, they threw Mike and Chevron out of Venezuela, but now they’re back, far bigger and stronger than ever before, expecting to make a fortune!” he added.
Chevron has operated in Venezuela for more than a century.
The company remained in the country after former President Hugo Chávez nationalised oil projects in 2007, while Exxon Mobil and ConocoPhillips exited the country.
A spokesperson for the American Petroleum Institute, which represents U.S. oil and natural gas companies, said higher fuel prices were being driven by global market conditions rather than the actions of individual companies.
“Today’s higher prices are driven by global supply, demand and continued uncertainty around the Strait of Hormuz and other critical shipping lanes — not by any one company,” the spokesperson said.
Morocco To Build $1.5 Billion Waste-To-Energy Plant In Casablanca
A consortium led by Swiss-Japanese firm Kanadevia Inova plans to begin construction of a $1.5 billion waste-to-energy plant in Casablanca by the end of the year, with full operations expected by mid-2030.
The facility in Morocco’s largest city will be the second of its kind in Africa and aims to generate electricity while reducing methane emissions and other environmental impacts from the Mediouna landfill, the country’s largest.
Kanadevia Inova and its partners signed a concession agreement awarded by Casablanca’s city government on Monday.
The consortium includes Moroccan energy company Nareva and Japan’s Itochu.
Once operational, the plant will process about 1.5 million metric tons of waste a year and generate about 115 megawatts of electricity from a combination of waste, solar power and landfill gas, enough to supply nearly 1 million people, Kanadevia Inova said.
Critics of waste-to-energy plants, including environmental scientists, climate activists and local community groups, say they undermine recycling efforts and emit particulate matter and greenhouse gases because most rely on incineration.
Construction is expected to begin once debt and equity financing is fully secured by the fourth quarter of this year, Kanadevia Inova Chief Executive Bruno-Frédéric Baudouin said in an interview with Reuters.
The plant, which will be built by Moroccan construction company Somagec, is expected to take about three and a half years to complete, although waste treatment and electricity generation could begin six to 10 months before the project is fully completed, Baudouin said.
The consortium has also secured a power purchase agreement with state-owned electricity utility ONEE and plans to seek financing from Moroccan lenders, he said.
“The debt will be all local,” Baudouin said.
The Mediouna landfill on the outskirts of Casablanca has for decades generated foul odours and pollution that has seeped into nearby farmland, while decomposing waste releases methane and other greenhouse gases.
Baudouin said the new plant could reduce greenhouse gas emissions by an amount equivalent to about 20% of Switzerland’s annual emissions.
“It’s like removing 300,000 cars from the road,” he said..
BP Completes Sale Of Gelsenkirchen Refinery To Klesch Group
BP has completed the sale of its Gelsenkirchen refinery and related businesses to Klesch Group, the company said.
The British oil major said the sale is in line with its focus on disciplined capital allocation and is expected to reduce underlying operating expenditure by about $1 billion.
“This deal strengthens our balance sheet and simplifies our portfolio. By concentrating our capital on the assets and markets where BP can be most competitive, we are building a higher-value, more resilient downstream business that continues to supply the fuels and products our customers rely on,” Richard Harding, BP’s interim executive vice president for downstream, said.
Based on historical performance, the transaction is expected to be accretive to free cash flow and transfers the associated assets and liabilities to Klesch Group.
“Gelsenkirchen plays an important role in supplying western Germany with fuels and petrochemicals. With its refining experience and established presence in Germany, Klesch Group is well placed to take Gelsenkirchen into its next chapter. BP will continue to support customers in Germany through its businesses, including Aral,” Patrick Wendeler, BP’s head of country for Germany, said.
BP said the sale follows its conclusion that a new owner would be better placed to develop the refinery and support its long-term future. Employees at the refinery and the associated businesses have transferred to Klesch Group as part of the transaction.
Following the sale, BP retains a refining portfolio of five refineries serving key customers and markets across its downstream business: Cherry Point and Whiting in the United States, and Castellón, Lingen and Rotterdam in Europe.
Shell Signs Deal To Sell European Onshore Renewables Portfolio To TotalEnergies
Shell has signed a sale and purchase agreement with TotalEnergies to sell its European onshore renewables portfolio.
The portfolio includes development-stage and operational assets in Italy, the Netherlands, Spain and the United Kingdom.
The deal reflects Shell’s strategy of actively managing and upgrading its power portfolio, in line with the strategy outlined at its 2025 Capital Markets Day, Machteld de Haan, President of Downstream, Renewables and Energy Solutions, said.
“We are recycling capital and prioritising areas where we have differentiated capabilities and can create the most value over time, including through asset-backed power trading and customer-focused energy solutions,” de Haan said.
The transaction is subject to regulatory approvals and is expected to close by the end of 2026. “In line with our strategy, these two transactions enable us to optimise our capital allocation in renewables while continuing to deploy our integrated power strategy. The acquisition of Shell’s onshore renewables assets in Europe strengthens our power generation position in selected deregulated markets across Europe and supports the implementation of our integrated strategy across the electricity value chain. It also complements the flexible generation capacity of the gas-fired power plants of TTEP, our joint venture with EPH, particularly in Italy, the Netherlands and the United Kingdom,” said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies.OPEC+ To Raise Oil Production Quota By 188,000 Bpd From September
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to increase their oil production quota by 188,000 barrels per day (bpd) from September, the group said on Sunday.
In a statement, OPEC said the decision was reached during a virtual meeting of the seven member countries that had previously implemented additional voluntary production cuts in April and November 2023.
The countries are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
The group said it reviewed global oil market conditions and the outlook before agreeing to adjust production levels.
Under the agreement, Saudi Arabia and Russia will each increase production by 62,000 bpd, Iraq by 26,000 bpd, Kuwait by 16,000 bpd, Kazakhstan by 10,000 bpd, Algeria by 6,000 bpd and Oman by 5,000 bpd.
“In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023,” OPEC said.
The production increase will take effect in September.
The group said the adjustment would also provide an opportunity for participating countries to accelerate compensation for previous overproduction.
“The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation,” the statement said.
The countries reaffirmed their commitment to full compliance with the Declaration of Cooperation, including the additional voluntary production adjustments monitored by the Joint Ministerial Monitoring Committee (JMMC).
They also reiterated their intention to fully compensate for any excess production recorded since January 2024.
OPEC said the seven countries would continue to meet monthly to review market conditions.
The next OPEC+ meeting is scheduled for September 6.
Ghana: Fuel Tanker Driver And Mate Killed In Explosion On Accra–Kumasi Highway
The tanker reportedly skidded off the bridge before falling into the river, where it caught fire and exploded, killing both occupants.
The cause of the crash has not yet been determined.
The Ghana National Fire Service said investigations are underway to establish the circumstances surrounding the incident.
Zambia: ERB Slashes Fuel Prices for August As Global Oil Prices Fall
Zambia’s energy regulator, the Energy Regulation Board (ERB), has reduced pump prices for all petroleum products for August 2026, citing lower international oil prices despite the depreciation of the kwacha.
ERB Board Chairperson James Banda said in a statement that international petrol prices declined from US$105.82 per barrel to US$96.92 per barrel, while Jet A-1/kerosene prices dropped from US$158.97 per barrel to US$123.59 per barrel.
Diesel prices remained largely stable, edging up slightly from US$125.65 per barrel to US$126.58 per barrel.
During the same period, the kwacha depreciated against the US dollar, weakening from K18.35 to K19.01 per US$.
The new national uniform pump prices per litre are:
- Petrol: K25.29, down from K26.15
- Diesel: K26.86, down from K28.11
- Kerosene: K27.02, down from K28.32
- Jet A-1: K28.71, down from K30.27
Ghana: Mahama Cuts Diesel Regulatory Margin By GH¢2 To Ease Fuel Price Hike
Ghana’s President, John Dramani Mahama, has directed a reduction in the regulatory margin on diesel by GH¢2 per litre for one month, effective Tuesday, August 4, 2026, following a sharp increase in fuel pump prices across major fuel retail outlets on Monday.
Oil Marketing Companies (OMCs) on Monday morning began reviewing pump prices upward, with petrol (gasoline) rising to GH¢16.29 per litre, while diesel exceeded GH¢19 per litre.
The OMCs attributed the price increases to higher international refined petroleum prices, driven by renewed conflict in the Middle East, as well as domestic market pressures.
The latest development has triggered widespread complaints from motorists on social media.
In response, the Presidency, in a statement issued by the President’s Spokesperson, Felix Kwakye Ofosu, announced a GH¢2 reduction in diesel prices, effective Tuesday, August 4, 2026.
The temporary measure is expected to help prevent transport fare increases, contain inflationary pressures, and reduce the impact of higher fuel prices on the cost of living.
The Presidency said the government will continue to monitor developments in the international energy market and introduce further policy measures where necessary to protect consumers and sustain the country’s economic recovery.
The reduction will remain in force for one month unless it is reviewed by the government.