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Nigeria: Bonga Southwest/Aparo Project Moves Closer To Final Investment Decision
Nigeria’s state oil company NNPC Ltd and its partners on Monday signed agreements expected to move the proposed Bonga Southwest/Aparo (BSWAp) deepwater project, estimated to attract up to $21 billion in investment, closer to a final investment decision.
The project, located in Oil Mining Lease 118, is expected to become one of Nigeria’s biggest new deepwater developments, with projected peak production of about 175,000 barrels of oil per day and 140 million standard cubic feet of gas per day.
NNPC Ltd and the OML 118 contractor parties – Shell Nigeria Exploration and Production Company Ltd, Esso Exploration and Production Nigeria (Deepwater) Ltd and Nigerian Agip Exploration Ltd – executed an addendum to the OML 118 Production Sharing Contract and an addendum to the Dispute Settlement Agreement.
The agreements give effect to new fiscal and commercial terms approved by the federal government to support the development of BSWAp.
The development is significant for Nigeria, which has struggled in recent years to secure major new investments in its deepwater petroleum sector despite its substantial offshore oil and gas resources.
Unlike onshore and shallow-water operations, deepwater projects require large upfront capital commitments and long-term fiscal certainty, making a country’s tax and commercial framework a key consideration for international investors.
NNPC said in a statement issued by its Chief Corporate Communications Officer Andy Odeh that the agreements demonstrated the impact of recent government reforms aimed at restoring Nigeria’s attractiveness as a destination for deepwater investment.
“The execution gives effect to the fiscal and commercial terms approved by the Federal Government to support the development of BSWAp, and it reinforces Nigeria’s commitment to creating a competitive, stable and attractive environment for large-scale deepwater investment,” NNPC said.
The milestone follows President Bola Tinubu’s approval of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, which is designed to improve the competitiveness of Nigeria’s deepwater fiscal regime and attract fresh investment.
NNPC said the execution of the addenda showed that the policy reforms were beginning to translate into concrete project development.
Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd, said the agreements demonstrated that the government’s reforms were creating a pathway for major investments that had previously remained uncertain.
“The execution of the BSWAp PSC and DSA Addenda demonstrates the effectiveness of President Tinubu’s reforms in translating policy into investment,” Ojulari said.
“NNPC Ltd will continue to work closely with the Federal Government, our partners and other stakeholders to ensure that this project delivers maximum value for the Federation and the Nigerian people,” he added.
The project partners also said they had completed the project’s pre-front-end engineering design phase, paving the way for the more detailed front-end engineering design stage.
The Bonga Southwest/Aparo project is expected to be one of Nigeria’s largest new deepwater developments and could provide a significant boost to the country’s oil and gas production and investment prospects.
U.S. Sanctions Singapore-Based Wellbred Capital And Oil-Trading Affiliates Over Iran Links
The United States imposed sanctions on Singapore-based Wellbred Capital and its trading firms in the United Arab Emirates and Switzerland, citing links to Iran, as it steps up measures targeting Tehran’s global financial networks.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) said on Monday that Wellbred had ties to Iranian oil shipping magnate Mohammad Hossein Shamkhani, according to Reuters.com.
“Shamkhani built Wellbred as a company outside the network’s Iranian business, though Shamkhani is ultimately responsible for Wellbred’s operations,” OFAC said in a statement outlining measures targeting nearly 60 companies, individuals and ships.
Also sanctioned were Dubai-based Wellbred Trading FZCO, Wellbred Trading SA in Geneva and its French biofuels refinery, La Nivernaise de Raffinage SAS.
Headquartered in Singapore, Wellbred trades in oil, naphtha, petrochemicals and liquefied petroleum gas and has offices in the United Arab Emirates, Switzerland, Saudi Arabia and Nigeria, according to its website.
OFAC had previously designated individuals, entities and vessels forming part of a vast shipping empire controlled by Shamkhani in July 2025 and April 2026.
Shamkhani, the son of the late senior Iranian security official Ali Shamkhani, operates a massive fleet of tankers and containerships, OFAC has said.
The network transports oil and petroleum products from Iran and Russia, as well as other cargo, to buyers around the world, generating profits running into tens of billions of dollars, OFAC added.
South Africa: AEW 2026 To Explore Africa’s Shift From Local Content Participation To Industrialization
As Africa develops its estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of natural gas to strengthen energy security and expand local economies, local-content frameworks are entering a new phase.
Governments are moving beyond requirements for local employment and procurement toward building domestic industrial capacity and strengthening digital compliance while maintaining an investment environment capable of delivering competitive returns for international partners.
Developments across Mozambique, Namibia, Nigeria, Ghana, Angola and other African markets reflect this shift.
African Energy Week (AEW) 2026, scheduled for October 12 – 16 in Cape Town, South Africa, will feature a panel discussion titled Local Content Roundtable: Aligning Policy, Capacity and Investment for Sustainable Growth.
The session will bring together regulators, project developers, operators and local-content champions to examine how African producers can balance domestic development priorities with the commercial requirements of global investors.
Mozambique provides one of the clearest examples of this policy evolution. In June 2026, the National Assembly approved Local Content Law No. 9/2026, establishing a Local Content Authority to oversee implementation as the country advances major gas and gas-to-power investments.
The framework comes as Mozambique progresses multi-billion-dollar projects including TotalEnergies’ Mozambique LNG, ExxonMobil’s Rovuma LNG Phase One and Eni’s Coral North FLNG.
TotalEnergies’ Mozambique LNG project alone is expected to create more than 17,000 jobs during construction, supporting local participation in the energy value chain.
Namibia is taking a proactive approach. Following the April 2026 in-principle approval of its Upstream Petroleum Local Content Policy, the country is positioning its domestic workforce and suppliers to capture value before first oil in 2030. As flagship projects like TotalEnergies’ Venus, BW Energy’s Kudu Gas, and Rhino Resources’ Capricornus and Volan-1X advance toward investment, the timing enables Namibia to establish local capability before major supply-chain contracts are finalized.
Africa’s most mature market, Nigeria, is advancing local content from simple project participation to true industrial capacity. Rather than monitoring basic compliance, the country is focused on scaling up domestic manufacturing and technical service delivery across the entire energy value chain – including midstream gas and downstream refining.
To support this transition, the country has established a capability-grading framework to accurately assess local industrial capacity. Nigeria also launched a mandatory certification scheme for training providers across 11 key disciplines, ensuring local workforce development meets rigorous, accountable standards.
Ghana is leveraging technology and financing to modernize its local-content framework.
In May 2026, the Petroleum Commission launched an AI analytics platform to enhance reporting accuracy and enforcement. To solve local capital shortages, the nation is rolling out its Local Content Fund in Q4 2026, offering concessionary loans and working capital to domestic companies and underrepresented groups.
Angola is similarly addressing the financing gap. The National Oil, Gas and Biofuels Agency has partnered with Standard Bank Angola to strengthen the financial capacity of more than 1,000 local companies registered with the agency, supporting their ability to participate more effectively in the petroleum value chain.
“Africa’s local content agenda is no longer just about listing companies on a page; it is about equipping domestic businesses with real skills, putting them to work on the ground, and holding them accountable to local laws – all while maintaining an attractive environment for global investors. Local content must drive tangible industry growth, not act as a bureaucratic barrier,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.
Ghana: PETROSOL’s GHS100 mln Bond Draws 178% Subscription
PETROSOL Platinum Energy PLC, a Ghanaian leading ISO-certified oil marketing company, on Monday listed the first tranche of its GHS200 million (approximately $17.94million) note programme on the Ghana Fixed Income Market (GFIM), after the GHS100 million issue attracted bids worth GHS178.07 million.
The oversubscription marks PETROSOL’s maiden issuance under the programme, which was approved by Ghana’s Securities and Exchange Commission (SEC) and the Ghana Stock Exchange (GSE).
The company’s four-year Series 1 tranche attracted GHS114.28 million in bids against a GHS50 million target, representing 229% subscription from 66 underlying investor clients.
The five-year Series 2 tranche received GHS63.80 million in bids against a GHS50 million target, representing 128% subscription from 18 underlying investor clients.
PETROSOL said the strong demand reflected investor confidence in the company’s credit profile and growth plans.
The company plans to return to the market to raise the remaining GHS100 million under the note programme, in line with its strategic plan.
PETROSOL said proceeds from the initial issuance would be used primarily to strengthen working capital, allowing it to shift fuel procurement from credit purchases to cash purchases, reduce its cost of sales and improve margins.
Part of the proceeds will also be used to expand the company’s network of retail service stations.
GSE, SEC hail PETROSOL bond listing as investor demand hits 178%
The Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, has described PETROSOL Platinum Energy PLC’s maiden bond issuance as a timely demonstration of how Ghanaian businesses can leverage the capital market to finance growth.
Speaking at the listing ceremony in Accra, Amoah said the substantial oversubscription of PETROSOL’s GHS100 million bond programme showed that the capital market could provide businesses with access to long-term financing while creating new investment opportunities.
“Your notes programme, substantially oversubscribed, arrives at the right time. It proves that Ghanaian businesses can look to Ghana’s capital markets to finance their ambitions, while opening new avenues for investors to share in your growth,” Amoah said.
She congratulated PETROSOL’s Board and Management for what she described as a bold step, noting that the GSE had closely followed the transaction through to completion.
According to Amoah, access to long-term capital remains a major constraint for Ghana’s private sector, despite significant pools of domestic savings held by banks, pension funds and insurance companies.
She said these funds require credible investment opportunities capable of supporting productive businesses and economic growth.
However, she cautioned that accessing the capital market comes with significant responsibilities for issuers.
“Access to the capital market comes with responsibility. A listing is not only an achievement. It places the issuer on a continuous journey and creates long-term obligations,” she said.
SEC urges PETROSOL to safeguard investor interests
Director-General of the Securities and Exchange Commission (SEC), James Klutse Avedzi, commended PETROSOL for sustaining its operations for more than two decades and expanding its retail network from four service stations to 109 over the past decade.
Avedzi said PETROSOL’s strategy to deepen market penetration, strengthen its competitive position and accelerate growth was now supported by the capital market.
“The vision of PETROSOL PLC to deepen market penetration, strengthen its competitive position and accelerate growth is finally on track with the capital market as a reliable partner,” he said.
He urged the company to strengthen its internal controls and systems to ensure that securities issued under the programme are serviced in accordance with their terms and conditions.
Such measures, he said, would help protect investors and preserve confidence in Ghana’s capital market.
Avedzi also expressed the expectation that the relatively lower cost of financing secured through the capital market would support PETROSOL’s operations. He encouraged the company to consider raising equity capital in the future to strengthen its balance sheet and increase its market capitalisation.
The SEC, he added, remained committed to expediting the review and approval of relevant applications while maintaining market integrity.
PETROSOL pledges disciplined use of bond proceeds
PETROSOL Board Chairman Daniel Acheampong said the successful listing was the result of nearly three years of preparation focused on strengthening the company’s governance, reporting and financial discipline.
“This listing is the result of nearly three years of deliberate preparation by the Board and Management, strengthening our governance, our reporting and our discipline so that when we came to the market, we would come as a credible institutional counterparty, not merely a hopeful borrower,” Acheampong said.
He said the strong demand for both bond tranches demonstrated investors’ recognition of the work undertaken by the company.
Acheampong pledged that the Board would ensure the funds raised were applied strictly in accordance with the commitments made to investors.
PETROSOL Chief Executive Officer Michael Bozumbil said accessing the capital market had been part of the company’s long-term growth strategy.
He said the company had evolved from a small petroleum business consulting practice into an established oil marketing company despite operating through challenging periods for Ghana’s economy.
“A combined 178% subscription on our first issuance is a strong vote of confidence from the investment community,” Bozumbil said.
He said Management remained committed to using the proceeds for working capital enhancement, cash-based fuel procurement and expansion of the company’s retail network.
PETROSOL notes begin trading on GFIM
The listing adds PETROSOL to the growing number of corporate issuers on the Ghana Fixed Income Market (GFIM), as Ghana’s capital market institutions seek to deepen the domestic market beyond government securities.
Trading in PETROSOL’s Series 1 and Series 2 notes on the GFIM is scheduled to begin following the listing.
Settlement, registry and depository services for the notes are being provided by the Central Securities Depository (GH) Ltd.
The GSE, SEC and other market institutions have increasingly sought to encourage Ghanaian companies to tap domestic capital markets for longer-term financing while providing institutional investors with alternatives to traditional government securities.
Ghana: GRIDCo Completes Replacement Of Damaged Transmission Tower In Ashaiman, Sets Sept. 12 Deadline For Encroachers To Vacate
Ghana Grid Company Ltd (GRIDCo) has completed the replacement of a damaged transmission tower at Ashaiman Middle East on the 161-kilovolt Tema-Achimota transmission line, restoring power to areas of the Greater Accra Region affected by the repair work, the company said.
GRIDCo said in a statement on Sunday that its engineers and technical teams had safely completed the work.
The transmission tower was damaged on July 10 when a fuel tanker exploded while welding work was being carried out on its tank within the transmission line’s right-of-way (RoW).
GRIDCo thanked the public for its patience, understanding and cooperation during the maintenance work.
The company also reminded the public that encroachment on transmission line rights-of-way is prohibited.
The warning follows an earlier directive by Energy and Green Transition Minister John Abdulai Jinapor, giving persons, businesses, land users and other entities operating within transmission line corridors until Sept. 12, 2026, to vacate the affected areas.
GRIDCo said that after the deadline, it would work with relevant statutory institutions to enforce the law and remove all unauthorised structures and activities from its transmission line rights-of-way.
Nigeria Needs Skilled Workforce To Unlock $50bn Offshore Oil Investment, Regulator Says
Nigeria needs to invest in skills development in the oil and gas sector to fully benefit from the Deep Offshore Oil and Gas Project Incentives (Tax Remission) Executive Order 2026, recently signed by President Bola Tinubu, the country’s upstream petroleum regulator said.
The order has the potential to unlock $50 billion in new offshore investments and create jobs, said Oritsemeyiwa Eyesan, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
However, Nigeria needs a modern upstream workforce to take advantage of the opportunities, attract foreign investment and increase oil production to 3 million barrels per day by 2030, Eyesan said.
Speaking at the Oil and Gas Trainers Association of Nigeria (OGTAN) inaugural Human Capital Development (HCD) Conference and Expo 2026 in Warri on Thursday, Eyesan said the sector faced a skills gap following a decline in offshore oil and gas investment over the past decade.
Nigeria attracted up to $26 billion in oil and gas investment in 2014, but that figure had fallen to about $2 billion annually by 2023, she said.
“In that period, the first that we lost were the geoscientists. So, once the budget cuts started, there was no more exploration, so the geoscientists had to be offloaded,” Eyesan said.
“Then some petroleum engineers became casualties because, for operators, it was no longer about drilling new wells but about survival mode — just maintenance and what have you. Our infrastructure was heavily derated because we were not investing.”
With new investments now returning to the sector, Nigeria needs to rebuild its technical capabilities, particularly in subsurface disciplines, Eyesan said.
“Today we are attracting new investments and so we want to see an upward trajectory. It stands to reason that you must go back to the basics. First of all, we need the right competencies in sub-surface,” she said.
But the skills required today are broader than those needed a decade ago, as digital technologies and artificial intelligence reshape the industry.
“What happened in 2014 is not what we are facing today because the digital age has taken over the business,” Eyesan said.
“So, you’re not just looking at a driller anymore. Today, you are talking about digital. You must know how to digitally drill.”
Eyesan identified six priority competency areas requiring urgent attention: digitalisation, artificial intelligence and data analytics; advanced subsurface and reservoir management; commercial, fiscal and regulatory expertise; gas development and energy transition; asset integrity, health, safety and environment (HSE) and decommissioning management; and project leadership, stakeholder management and multidisciplinary collaboration.
Ghana: Jubile Field Crude Oil Production Rises To 76,032 bpd In June From 67,256bpd In January 2026
Crude oil production from Ghana’s Jubilee Field increased in the first half of 2026, although output fluctuated during the period, data from the country’s upstream petroleum regulator showed.
Production stood at 67,256.32 barrels per day (bpd) in January and rose to 71,987.57 bpd in February, according to data from the Petroleum Commission.
Output declined to 69,961.94 bpd in March before rising to 71,151.00 bpd in April.
Production fell again to 68,909.48 bpd in May but rebounded to 76,032.27 bpd in June, the highest monthly output recorded during the first half of the year.
The increase highlights higher crude output from Jubilee, one of Ghana’s key oil-producing assets, amid efforts to sustain and increase production from the country’s mature oil fields.
Gas production
Gas production from the Jubilee Field stood at 196.22 million standard cubic feet per day (MMscf/d) in January but declined to 174.78 MMscf/d in February and 159.04 MMscf/d in March.
Output recovered to 163.44 MMscf/d in April, rising further to 175.46 MMscf/d in May and 191.83 MMscf/d in June.
Despite the recovery in the second quarter, gas production in June remained below the January level.
Flared gas stood at 8.48 MMscf/d in January and increased to 12.18 MMscf/d in February. It subsequently declined, reaching 10.72 MMscf/d in June.
Meanwhile, gas exports to the Ghana National Gas Company (GNGC) increased consistently during the period, rising from 108.70 MMscf/d in January to 123.52 MMscf/d in June.
Tanzania Commissions $3.35 Billion Julius Nyerere Hydropower Plant (Photos)
Tanzanian President Samia Suluhu Hassan on Saturday officially commissioned the Julius Nyerere Hydroelectric Power Plant (JNHPP), with a generation capacity of 2,115 megawatts, at the project site in Rufiji, Pwani region.
The 7.452 trillion Tanzanian shilling ($3.35 billion) plant was built between June 2019 and March 2025.
The inauguration was attended by senior officials including Vice President Emmanuel Nchimbi, Prime Minister Mwigulu Nchemba, Egyptian Prime Minister Mostafa Madbouly and Energy Minister Deogratius Ndejembi.
The inauguration marked the completion of the major strategic project, which was financed entirely by the Tanzanian government.
The project has increased Tanzania’s electricity generation capacity and strengthened energy security.
Tanzania Electricity Supply Company Limited (TANESCO) Managing Director Lazaro Twange said the government is relying on the Julius Nyerere Hydropower Project to transform the country’s electricity generation capacity and strengthen its position as a major business and investment hub in East Africa.
Twange said the plant would significantly increase Tanzania’s power supply and support economic and commercial growth.
He described the dam as a major strategic engineering project equipped with modern infrastructure aimed at strengthening Tanzania’s energy security and economic potential.
“The project’s nine turbines will substantially expand Tanzania’s electricity generation capacity, creating greater room for industrial growth, investment and trade,” he said.
The government, through TANESCO, signed a construction contract for the project on Dec. 12, 2018, with Egyptian companies Arab Contractors and Elsewedy Electric.
A day earlier, on Dec. 11, 2018, the government assigned TANESCO responsibility for overseeing the project’s implementation.
Twange said TANESCO subsequently signed an agreement with the Tanzania National Roads Agency (TANROADS) on April 17, 2019, covering consultancy and supervision of some project activities.
The dam is one of Tanzania’s largest and most strategic infrastructure projects, comprising six key components that form the power-generation complex, Twange said.
The government, through TANESCO, signed a construction contract for the project on Dec. 12, 2018, with Egyptian companies Arab Contractors and Elsewedy Electric.
A day earlier, on Dec. 11, 2018, the government assigned TANESCO responsibility for overseeing the project’s implementation.
Twange said TANESCO subsequently signed an agreement with the Tanzania National Roads Agency (TANROADS) on April 17, 2019, covering consultancy and supervision of some project activities.
The dam is one of Tanzania’s largest and most strategic infrastructure projects, comprising six key components that form the power-generation complex, Twange said.
Ghana: Madina, Nima, Cantonment, Other Accra Areas To Experience 15-Hour Power Outage On Sunday
The Electricity Company of Ghana (ECG) has released a list of areas in Accra that will experience a power outage from 3 a.m. to 6 p.m. on Sunday as part of emergency works by the Ghana Grid Company (GRIDCo) to replace a damaged transmission tower on the Tema-Achimota 161-kilovolt transmission line at Ashaiman Middle East.
In a statement, ECG said the affected areas include Nima Township, Kanda Highway, Kanda Estate, Kokomlemle, Sulana, Circle, Madina Township, Okponglo and Cantonment.
Other affected areas include Osu Oxford Street, Mallam Atta Market, parts of Ridge, Labone, Kojo Sardine, Teshie Rasta Road and surrounding areas.
The transmission tower was damaged on July 10 when a fuel tanker exploded while welding work was being carried out on its tank within the transmission line right of way (RoW).
ECG expressed regret for any inconvenience the planned interruption may cause customers in the affected areas.
In a separate statement on Saturday, GRIDCo said its engineers and technical teams would use the outage period to safely undertake the remaining work needed to restore the integrity of the transmission line.
“To facilitate the replacement works and ensure the safety of personnel and the public, power supply to some locations in the Greater Accra Region will be interrupted during the period of work,” GRIDCo said.
GRIDCo said it was collaborating with ECG to mitigate the impact of the interruption on customers and communities in the affected areas.
“We sincerely apologise for the inconvenience this interruption will cause and request the patience, understanding and cooperation of the public as GRIDCo works progressively to complete this critical work,” the company said.
Botswana: BPC Restores Power To Most Areas After Unplanned Nationwide Outage
Botswana experienced power outages in several parts of the country on Saturday, leaving households and businesses without electricity.
The country’s power utility, Botswana Power Corporation (BPC), confirmed the outage in a statement, saying it was caused by a disturbance on the power system.
BPC said electricity had been restored to most affected areas, while teams were continuing to work to reconnect customers in the remaining areas.
The power utility apologised to customers for what it described as an unplanned power interruption.
Energy News Africa Joins ADNOC As Media Partner For ADIPEC 2026
Energy News Africa, a leading Pan-African energy news portal, has joined the Abu Dhabi National Oil Company (ADNOC) as a media partner for the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2026, scheduled for Nov. 2-5, 2026, in Abu Dhabi, United Arab Emirates.
ADIPEC is hosted by ADNOC and organised by dmg events.
The event will take place at the Abu Dhabi National Exhibition Centre (ADNEC) and will bring together energy industry leaders, policymakers, investors and technology providers from around the world.
The 2026 edition will feature more than 2,250 exhibitors and 13 conference programmes with more than 380 sessions covering issues including energy security and resilience, policy and regulation, finance and investment, artificial intelligence, digitalisation, upstream, natural gas and LNG, downstream and clean energy.
Operating from Accra, Ghana, Energy News Africa has established itself as a specialist media platform covering Africa’s power, oil and gas and broader energy sectors.
The publication has readers across Africa, Europe, the Americas, Asia and the Middle East, including the United Arab Emirates.
Since its establishment in 2018, Energy News Africa has covered developments involving governments, regulators, energy companies and industry leaders across Africa.
The publication has also partnered with international energy events, including Enlit Africa, formerly African Utilities Week; African Energy Week (AEW), held in South Africa; and Africa Oil Week (AOW), which is currently hosted in Accra.
Commenting on the partnership, Michael Creg Afful, Executive Director of Energy News Africa Ltd, said the agreement was an acknowledgement of the publication’s credibility and growing international reach.
“This partnership is an acknowledgement that international organisations have recognised Energy News Africa as a credible platform. Since our inception in 2018, we have created visibility for UAE companies in Africa, as well as for power and oil and gas companies in Africa and the rest of the world,” Afful said.
“We believe this partnership is a great opportunity and also a challenge for us to do more,” he said.
Afful said Energy News Africa hoped the partnership would develop into a long-term relationship.
“We wish that this partnership will be a long-lasting partnership,” he said.
ADIPEC 2026 will provide a platform for global energy stakeholders to discuss energy security, competitiveness, resilience, investment and the technologies shaping the future of the energy industry.
The event is held under the patronage of Sheikh Mohamed bin Zayed Al Nahyan, president of the United Arab Emirates.
Brazil’s PETROBRAS Begins Negotiations For Four Exploratory Blocks Offshore Keta Basin In Ghana
Brazilian state-owned energy company Petrobras said on Friday it had submitted an expression of interest in four exploratory blocks in the offshore Keta Basin in Ghana.
Ghana’s Ministry of Energy and Green Transition has approved Petrobras’ application to negotiate exploration contracts for the four blocks, the company said.
With the approval, Petrobras has entered the phase of direct negotiations on the terms of the exploration contracts.
“The initiative is aligned with Petrobras’ strategy to replenish oil and gas reserves by exploring new frontiers, both in Brazil and abroad, as provided for in its Business Plan,” the company said.
The evaluation of new opportunities aims to diversify Petrobras’ exploration portfolio while generating value and supporting the long-term sustainability of its business.
As Petrobras is keen on boosting its oil and gas reserves through the exploration of new frontiers, both in Brazil and abroad, the assessment of new opportunities seeks to diversify the company’s exploration portfolio.
This is part of the Brazilian player’s plans to promote value creation and the long‑term sustainability of its business.
The confirmation of discussions in Ghana comes shortly after Petrobras made a hydrocarbon discovery in a frontier well offshore Amapá.
Nigeria: Kaduna Electric Special Board Assumes Office, Vows To Turn Around Company
The newly appointed special board of Kaduna Electric assumed office on Wednesday, signalling a renewed effort to address the company’s operational challenges, improve performance and restore it to a sustainable growth trajectory.
The board, chaired by Dr. Abdullahi Garba, met with the management and staff of Kaduna Electric at the company’s headquarters in Kaduna as part of its first official engagements.
The Nigerian Electricity Regulatory Commission (NERC), Nigeria’s electricity regulator, recently dissolved the previous board over the company’s cumulative market obligations of 456.5 billion naira ($335.2 million).
Speaking during the staff engagement, Garba described the intervention as an opportunity for a new beginning and said the board was determined to work with management and employees to improve the company’s performance and restore stakeholder confidence.
“This is a new beginning for Kaduna Electric, and we must all take ownership of the transformation process. The Board is committed to providing the leadership and support required to reposition the Company, but we cannot achieve this alone. I therefore call on every member of staff to bring their experience, commitment and professionalism to the task ahead. Together, we can build a Kaduna Electric that we will all be proud of,” Garba said.
Dafe C. Akpeneye, commissioner for legal, licensing and compliance at NERC, said the intervention would receive the necessary support from the federal government, with measures being considered to address some of the company’s immediate and critical needs.
The newly constituted board comprises Garba as chairman, Francis U. Agoha, Aliyu E. Aliyu, Major General Henry E. Ayamasaeoewi (rtd), Haliru Dikko, Ayodeji A. Gbeleyi, representing the Bureau of Public Enterprises (BPE), and Umar Abubakar Hashidu, who will serve as administrator and special director.
The board has been constituted for an initial six-month term.
Management and staff welcomed the new board and expressed their readiness to work with it to achieve the objectives of the intervention, improve operational performance and strengthen service delivery to customers across the company’s franchise area.
Kaduna Electric said it remained committed to working with the board, NERC, the federal government, employees, customers and other stakeholders to deliver a sustainable turnaround and build a stronger, more efficient and customer-focused company.
($1 = 1,362 naira)
Ghana: Power Supply Fully Restored Across All Affected Areas – GRIDCo
Ghana’s power transmission company, GRIDCo, has confirmed that power supply has been fully restored to all affected areas following a system disturbance that occurred on Thursday, August 20, 2026.
The system disturbance occurred at about 4:30 a.m. on Thursday, triggering widespread power outages.
In a statement on Friday updating the public, GRIDCo said the restoration process commenced immediately, with its engineers and power sector technical teams working diligently to restore power to all affected areas.
“By 12:03 p.m., power had been restored to all affected areas,” the company said.
GRIDCo expressed appreciation to the public for their cooperation and support throughout the restoration process.
The company said it would continue to implement measures to strengthen the reliability, stability and resilience of the transmission network.
“GRIDCo appreciates the patience, understanding and support of the public, as well as the continued cooperation of all stakeholders,” the statement concluded.