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Ghana: GNPC 2025 Revenue Rises 3.7% To $1.64 Billion As Ghana Moves To Halt Oil Output Decline
Ghana National Petroleum Corporation (GNPC) and its subsidiaries recorded revenue of $1.64 billion in 2025, up 3.66% from $1.58 billion a year earlier, as the state oil company stepped up efforts to stem declining crude production and bring new petroleum resources into development.
GNPC, on a standalone basis, recorded revenue of $1.45 billion from crude oil and gas sales, compared with $1.41 billion in 2024, an increase of 2.92%.
Crude oil sales generated $499.42 million, while gas sales contributed $952.38 million, supported by higher sales volumes, improved pricing and increased gas commercialisation, the company said.
Total crude oil production from Ghana’s three producing fields stood at 37.30 million barrels in 2025, while gas production reached 273.78 billion standard cubic feet (MMscf), with exports totalling 122.72 billion standard cubic feet.
GNPC Explorco recorded revenue of $153.6 million, up from $147.2 million in 2024, while profit after tax rose to $25.6 million.
Prestea Sankofa Gold Limited recorded revenue of $33.65 million and profit after tax of $2.7 million in 2025, compared with revenue of $23.42 million and profit of $640,000 a year earlier.
Mole Hotel Limited recorded revenue of $570,000, compared with $53,986 in 2024. Ghana National Gas Company Limited recorded revenue of 5.85 billion Ghana cedis and profit after tax of 246.25 million cedis, compared with profit of 118.16 million cedis in 2024.
The figures were presented at GNPC’s third annual general meeting in Accra under the theme “40 Years of Resilience”.
GNPC’s performance came against a difficult backdrop for Ghana’s upstream petroleum sector, which recorded a fifth consecutive year of declining crude oil production and subdued investor activity.
Average daily crude oil production from the Jubilee, TEN and Sankofa Gye Nyame fields was 102,199 barrels per day in 2025, while gas supplied for domestic use averaged about 336 million standard cubic feet per day, exceeding the annual target of 325 MMscf/d, the company said.
GNPC Chief Executive Kwame Ntow Amoah said interventions introduced during the year had helped slow the decline in production.
“In the second half of the year, the results of our interventions began to show: a precipitous decline had been averted,” he said.
GNPC’s strategy in 2025 focused on stabilising production, expanding gas commercialisation, advancing exploration and strengthening its capacity to operate petroleum assets, Amoah said.
GNPC and its partners, under the direction of the Ministry of Energy and Green Transition, also negotiated extensions to three petroleum agreements covering Deepwater Tano, West Cape Three Points and Offshore Cape Three Points.
The extensions are expected to unlock $3.5 billion in investment over the next three years, the company said.
The company also advanced plans to develop additional resources. The declaration of commerciality for the Eban-Akoma discoveries in the Cape Three Points Block 4 moved the fields into development planning, while preparations continued for an exploration well in Ghana’s Voltaian Basin, which is expected to be drilled in the fourth quarter of 2026.
GNPC Board Chairman Prof. Joseph Oteng-Adjei said the board’s priorities included addressing the decline in oil production, accelerating gas commercialisation, attracting upstream investment and advancing exploration in the Voltaian Basin.
“These strategic initiatives are essential to strengthening Ghana’s energy security and sustaining the long-term growth of the petroleum sector,” he said.
Energy and Green Transition Minister Dr. John Abdulai Jinapor said GNPC’s financial results demonstrated that stronger commercial discipline could improve performance despite difficult market conditions.
Group profit after tax rose 24.88% to $374.99 million, even as GNPC’s realised crude oil price fell to $69.47 per barrel from $81.15 per barrel in 2024.
Jinapor urged the corporation to build on the improvement through disciplined capital allocation, tighter cost controls, stronger project management and improved revenue collection.
He said the government would work with GNPC, the Petroleum Commission and industry operators to accelerate field development, appraisal and exploration, improve the pace of regulatory approvals, address infrastructure constraints and provide a more predictable investment environment.
“Our policy objective must be to move discovered resources into production faster while creating the conditions for discoveries,” Jinapor said.
He also said the government intended to review Ghana’s petroleum fiscal framework to reflect changing global industry conditions and improve the country’s competitiveness in attracting upstream investment.
GNPC said it would focus on restoring production growth, expanding gas commercialisation, strengthening its operatorship capability and bringing new resources into production as it seeks to build the capacity of the national oil company.
Angola: Chevron Announces Oil And Gas Condensate Discovery Offshore
Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration, Reuters reported.
Angola, sub-Saharan Africa’s second-largest oil producer, introduced a presidential decree in late 2024 that included reforms and tax cuts aimed at making mature blocks more attractive to investors and encouraging exploration.
The well in Angola’s Lower Congo Basin encountered an oil and gas condensate column exceeding 600 metres in the Pinda reservoir, including more than 90 metres of net pay in what Chevron described as high-quality rock.
Block 0 is operated by Chevron subsidiary Cabinda Gulf Oil, which holds a 39.2% working interest. Sonangol E&P holds a 41% working interest, TotalEnergies has 10% and Azule Energy holds 9.8%.
Chevron has operated in Angola since the 1930s and has interests in two concessions: Block 0, off the coast of Cabinda province, and Block 14, in deep water.
The company said the discovery builds on its exploration programme in sub-Saharan Africa, where it produces about 300,000 barrels of oil equivalent per day on a net basis.
Chevron plans to assess whether the discovery can be tied into nearby existing facilities to reduce development costs and accelerate production.
The company has expanded its regional acreage over the past year, adding offshore blocks in Nigeria and securing interests in Guinea-Bissau and Equatorial Guinea.
It is also exploring several blocks in Angola and plans a multi-well programme across the region, including the Nabba-1X well in Namibia, before the end of the year.
Nigeria: Geregu Power Appoints Mohammed Sani Jaoji As Acting CEO
Geregu Power Plc has appointed Engr. Mohammed Sani Jaoji as acting chief executive officer effective Aug. 17, 2026, subject to approval by the Nigerian Electricity Regulatory Commission (NERC), the company said.
Jaoji holds a bachelor’s degree in mechanical engineering from Ahmadu Bello University, Zaria, and is a registered member of the Council for the Regulation of Engineering in Nigeria (COREN).
He has more than three decades of experience in the power sector, having held technical and leadership roles at the National Electric Power Authority (NEPA) and Geregu Power.
He served as head of maintenance planning and performance at Geregu Power from 2007 to 2019 and subsequently served as technical assistant to the minister of power from 2019 to 2023 before returning to Geregu Power.
The board said Jaoji’s appointment would strengthen the company’s governance structure and strategic direction pending the appointment of a substantive CEO.
The appointment follows the expiry of the term of interim CEO Sean Manley on Aug. 14, 2026.
The board thanked Manley for his service and contributions to the company and wished him success in his future endeavours.
Development Finance, Advisory And Research Leaders Join Power Africa Today At AEW 2026
The institutional architecture around African power investment has grown considerably more sophisticated in recent years, with multilateral lenders, specialized blended finance vehicles, global law firms and energy research houses all playing active roles in how projects are structured, financed and brought to market.
Speakers confirmed for the Power Africa Today conference during African Energy Week (AEW) 2026 in Cape Town, October 12-16, represent the complete investment ecosystem at work across the continent.
The World Bank’s role in shaping Africa’s power investment landscape is well established, and Infrastructure Program Leader Mirlan Aldayarov joins Power Africa Today as the institution expands its energy sector engagement.
Aldayarov, a senior energy specialist who leads investment operations within the Bank’s Energy and Extractives Global Practice, was closely involved in the $1.5 billion development policy loan approved for South Africa in July 2026 to support electricity sector reforms and grid governance.
His participation at the conference connects the multilateral financing agenda to the national-level reforms being discussed across the program.
The Global Energy Alliance for People and Planet (GEAPP), where Carol Koech serves as Vice President for Africa, has emerged as one of the more active mobilizers of blended finance for electrification and renewables on the continent.
GEAPP and its partners have raised $100 million in funding directed toward Mission 300, the World Bank-led effort to connect 300 million people across Africa to electricity by the end of the decade.
Koech, who joined GEAPP in August 2025 after leading Schneider Electric’s East Africa business, brings two decades of experience in energy access and private-sector transformation to the Power Africa Today lineup.
Closer to the project level, Mphokolo Makara, CEO of the SA-H2 Fund managed by Climate Fund Managers and Invest International, represents the next generation of blended finance vehicles targeting African energy infrastructure.
The fund, which targets $1 billion in green hydrogen investment in South Africa, recently backed the development of the country’s first wastewater-to-green-methanol facility and previously committed $20 million to the Hive Hydrogen Coega green ammonia project.
Makara’s presence at Power Africa Today brings the green hydrogen financing discussion into a broader conversation about how blended finance can unlock capital for emerging energy technologies.
South Africa’s Industrial Development Corporation (IDC) adds a domestic DFI perspective. Nina Yose, Acting Divisional Executive for Mining, Metals, Infrastructure and Energy, joins the conference as the IDC continues to finance energy and infrastructure projects across the country, including through the Junior Mining Exploration Fund that she oversees.
The IDC’s role in channeling public capital into projects that are not yet fully commercially bankable complements the multilateral and private capital represented elsewhere on the lineup.
Rounding out the group from the advisory and research side, John Ngunjiri, an Associate in Norton Rose Fulbright’s energy and infrastructure M&A practice and a member of the African Energy Chamber’s Advisory Board, brings legal and transactional expertise.
Norton Rose Fulbright, ranked in Band 1 for Africa-wide projects and energy by Chambers Global in 2026, advises on the deal structures and project finance arrangements that underpin large-scale African energy investments.
Silvia Macri, Associate Director for Power and Renewables Research at S&P Global Energy, also joins the lineup with more than 12 years of coverage across African and Middle Eastern energy markets.
Says NJ Ayuk, Executive Chairman of the African Energy Chamber, “The speakers at Power Africa Today reflect the full chain of expertise needed to get African power projects built – from the DFIs structuring the risk to the lawyers closing the deals to the analysts pricing the market.”
Power Africa Today brings together policymakers, utilities, investors and developers to address the regulatory, financial and infrastructural challenges of building interconnected electricity markets across the continent.
Ghana: GRIDCO Sets August 23 To Replace Damaged Transmission Tower In Ashaiman
The Ghana Grid Company Ltd. (GRIDCo) has completed the initial phase of repair works on the Ashaiman section of the 161-kilovolt Tema-Achimota transmission line, the company said.
A team of GRIDCo engineers carried out the preliminary works on Sunday, Aug. 16, 2026, as part of efforts to replace a transmission tower damaged in a July incident.
The tower at Ashaiman Middle East 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, GRIDCo said.
GRIDCo said on Saturday that it would curtail power supply to parts of the Greater Accra region on Sunday to facilitate the repair works. Power supply to affected customers has since been restored, the company said in a statement on Sunday evening.
The remaining phase of the work, involving the replacement of the damaged transmission tower, will be undertaken on Sunday, Aug. 23, GRIDCo said.
In collaboration with the Electricity Company of Ghana (ECG), GRIDCo said it would provide prior information to customers and communities that may be affected by the planned works, including any associated power supply interruptions.
GRIDCo said it would continue to work to complete the tower replacement and restore the full integrity, reliability and resilience of the transmission line.
The company thanked the public for its patience, understanding and cooperation as it works to complete the repair.
Ghana: Diesel Prices Expected To Rise, Petrol And LPG Prices To Fall
Motorists in Ghana are expected to face a 1.39% increase in diesel prices in the second pricing window of August, while petrol and liquefied petroleum gas (LPG) prices are projected to decline by 2.90% and 0.93%, respectively, the Chamber of Oil Marketing Companies (COMAC) said.
The mixed outlook reflects uncertainty surrounding the U.S.-Iran dispute and higher international crude oil prices.
COMAC said a recent 2-cedi reduction in the regulatory margin on diesel should continue to cushion consumers from the full impact of higher pump prices.
The chamber also said the recent appreciation of the cedi could provide further relief in coming pricing windows if the trend is sustained.
Average crude oil prices rose 2.02% to $90.41 a barrel in mid-August, driven by geopolitical risks and potential supply disruptions around the Strait of Hormuz, COMAC said.
Refined petroleum products recorded mixed movements, with diesel prices rising 2.86%, while petrol and LPG prices fell 5.46% and 2.54%, respectively.
Diesel prices came under renewed pressure following another Ukrainian attack on a Russian refinery and a Houthi attack on a Saudi Arabian refining facility, COMAC said.
The cedi depreciated 1.20% to 11.80 cedis per dollar between July 27 and Aug. 11, based on bank averages, COMAC said.
The currency has since strengthened, with the Bank of Ghana’s rate at 10.98 cedis per dollar on Aug. 14.
COMAC expects further appreciation if current foreign exchange supply conditions persist, which could help lower the local cost of imported petroleum products in subsequent pricing windows.
The latest outlook is broadly consistent with the National Petroleum Authority’s price floors for the second pricing window of August.
The petrol price floor has been reduced by 0.61 cedi per litre to 13.92 cedis from 14.53 cedis, while the LPG price floor has fallen by 0.08 cedi per kilogram to 10.98 cedis from 11.06 cedis.
Diesel, however, has moved in the opposite direction, with its price floor rising by 0.22 cedi per litre to 15.19 cedis from 14.97 cedis.
The changes could provide some relief for petrol and LPG consumers, while diesel users may continue to face higher operating and transport costs.
The Gambia Begins Peak-Hour Load Shedding As Electricity Demand Hits 140 MW
The Gambia on Saturday began implementing load shedding during peak hours, from 8 p.m. to 4 a.m., following an unforeseen surge in electricity demand and constraints on power imports, the National Water and Electricity Company (NAWEC) said.
In a statement issued on Saturday, NAWEC said the country had experienced an unforeseen surge in electricity demand during peak periods, reaching up to 140 MW nationwide.
The utility attributed the increase to prevailing high temperatures.
“This demand surge has coincided with constraints on electricity imports, despite NAWEC currently operating four local generating units,” the company said.
According to NAWEC, the situation has been further compounded by a technical incident affecting one of the major power-generating units on the import side.
“In view of these developments, NAWEC will institute load shedding during peak hours, mainly between 8:00 p.m. and 4:00 a.m., affecting several parts of the country,” it said.
NAWEC said the measure was necessary to maintain the secure and stable operation of the available power system.
The company apologised for the inconvenience and appealed to customers for their patience and cooperation, adding that it would continue to provide regular updates through its official communication channels as it works to manage the situation and ensure stable power supply.
South Africa’s Top Court Overturns Ruling Allowing Shell Seismic Surveys Off Wild Coast
Local communities and environmental groups had challenged the seismic survey plans, arguing in part that they had not been adequately consulted.
Justice Jody Kollapen said the Supreme Court of Appeal’s order was set aside.
Shell said it remained committed to responsible offshore exploration, stakeholder engagement and environmental stewardship.
The ruling does not affect Shell’s broader exploration plans in South Africa.
Shell received environmental authorisation last year to drill up to five ultra-deepwater exploration wells in the Northern Cape Ultra Deep Block off South Africa’s west coast, part of the Orange Basin, which extends north into Namibia.
Shell has made several major discoveries on the Namibian side of the basin, where exploration has advanced more rapidly.
The company is also pursuing a 60% operating interest in South Africa’s Block 2C through a proposed farm-in agreement with state-owned PetroSA.
Under the proposed deal, Shell would pay a $25 million signing bonus and fund about $135 million to $150 million for an initial three-well programme.
The transfer remains subject to regulatory approval.
South Africa’s offshore acreage lies alongside the Orange Basin, one of the world’s most closely watched emerging oil and gas exploration regions.
However, legal challenges and permitting disputes have repeatedly delayed exploration activity on the South African side of the basin.
Shell has meanwhile been reducing its downstream exposure in South Africa while continuing to pursue upstream opportunities.
The company has moved to sell its South African retail and trading business after previously disposing of its stake in the shuttered Sapref refinery.
Ghana: GRIDCo To Cut Power In Parts Of Greater Accra On Sunday For Emergency Repairs
Ghana Grid Company Ltd. (GRIDCo) will curtail power supply to parts of the Greater Accra Region on Sunday, August. 16, from 3:30 a.m. to 6 p.m. to allow engineers to carry out emergency works to replace a damaged tower on the Tema-Achimota 161-kV transmission line at Ashaiman Middle East.
“GRIDCo engineers and technical teams will use this period to safely undertake the required works and restore the integrity of the transmission line,” the company said in a statement on Saturday.
GRIDCo apologised to affected customers for the planned outage and appealed for public patience and cooperation while the emergency works are carried out.
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 said.
The planned repairs prompted a visit to the site by Energy and Green Transition Minister Dr. John Abdulai Jinapor, who inspected the damaged tower on Thursday.
GRIDCo said encroachment on a lawfully acquired or assigned transmission line right-of-way is prohibited by law.
The Transmission Line Protection Regulations, 1967 (L.I. 542), as amended by L.I. 1737 of 2004, prohibit activities including unauthorised construction, excavation, drilling, commercial operations, lorry parks, shops and garages within transmission line corridors.
During his visit, Jinapor warned people, businesses, land users and other entities encroaching on transmission line rights-of-way across the country to vacate the affected areas within one month or face enforcement action, including forced eviction and confiscation of items left behind, according to the statement.
The directive applies particularly to those who have erected structures, established businesses, parked heavy vehicles or carried out welding, excavation or other industrial activities within the transmission line corridors.
GRIDCo said that after the one-month period it would work with Metropolitan, Municipal and District Assemblies, other statutory institutions and security agencies to enforce the law and remove unauthorised structures and activities from transmission line rights-of-way.
“Persons who fail to comply should therefore expect enforcement action in accordance with the applicable laws,” GRIDCo said.
The company said transmission line rights-of-way were not available for unrestricted occupation or commercial use and urged the public, traditional authorities, landowners, businesses and local authorities to cooperate in keeping the corridors clear of encroachment.
Kenya: EPRA Cuts Diesel Prices, Keeps Petrol And Kerosene Unchanged
Kenya’s Energy and Petroleum Regulatory Authority (EPRA) has cut the price of diesel by 5 shillings per litre in its latest monthly review, while keeping the prices of Super Petrol and Kerosene unchanged.
The new prices take effect from midnight on Friday, Aug. 14, and will apply from Saturday, Aug. 15, EPRA said.
A litre of diesel in Nairobi will now retail at 217.86 shillings, down from 222.86 shillings. Super Petrol will remain at 214.03 shillings per litre, while Kerosene will remain at 191.38 shillings.
EPRA said the prices of Super Petrol and Kerosene were maintained with the support of an additional government fuel stabilisation subsidy of 938 million shillings.
“The prices are inclusive of Value Added Tax (VAT),” EPRA said, citing the VAT Act of 2013, the Finance Act of 2023, the Tax Laws (Amendment) Act of 2024 and revised excise duty rates adjusted for inflation.
The regulator attributed the changes to movements in the average landed cost of imported petroleum products.
The average landed cost of imported Super Petrol rose 6.99% to $894.92 per cubic metre in July from $836.92 in June, EPRA said.
Over the same period, the landed cost of diesel fell 13.08% to $855.59 per cubic metre from $984.37, while that of kerosene declined 11.01% to $915.01 per cubic metre from $1,028.17.
Ghana: Energy Minister Gives One-Month Ultimatum To GRIDCo Right-Of-Way Encroachers To Vacate Or Fce Eviction
Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, has given individuals and businesses operating within Ghana Grid Company Limited’s (GRIDCo) transmission rights-of-way one month to voluntarily evacuate or face forced removal.
Jinapor said the directive was necessary to protect critical energy infrastructure and prevent activities within transmission corridors from endangering lives, property and Ghana’s power supply.
He issued the directive on Thursday during a visit to Ashaiman Middle East to inspect the assembly of a replacement transmission tower after a tanker explosion damaged an existing tower on July 10.
The tanker exploded while undergoing welding work beneath a transmission line, sending part of the vehicle more than 300 metres into one of the towers and compromising its structural integrity.
Under L.I. 542, as amended by L.I. 1737, activities are prohibited within protected corridors extending 15 metres on either side of 161-kilovolt transmission lines and 20 metres on either side of 330-kilovolt lines.
Jinapor said the government would use legal measures to remove people who failed to comply with the deadline, including confiscating and auctioning items left behind.
“We are giving all those operating under these pylons one month to evacuate on their own,” he said.
He said the government would work with the police, military, national security, local assemblies and other stakeholders to enforce the directive, adding that repeated appeals to encroachers had failed to resolve the problem.
“Where persuasion fails, force must be applied legally,” Jinapor said.
The chief executive of GRIDCo, Frank Asirifi Otchere, said the July 10 incident had compromised the structural integrity of the tower, which carries two critical transmission lines from the Volta Substation in Tema to the Achimota Substation.
“The power on it feeds most of Accra,” he said.
Otchere said the impact occurred after part of the tanker travelled more than 300 metres before hitting the tower, creating a risk that the structure could collapse and affect other towers along the transmission line.
GRIDCo has retrieved an identical spare tower from its stores and is assembling it to replace the damaged structure.
Otchere said the replacement work was scheduled for the weekend and had been compressed from the usual two days to about 12 hours to minimise disruption.
“Our men have done the programme and crashed it so that we’ll try to contain it within a day, within 12 hours,” he said.
He warned that the work could require a temporary reduction in electricity load in Accra to prevent adjacent transmission lines from becoming overloaded and tripping.
He appealed to the public to stay away from transmission rights-of-way, saying the restrictions were intended to protect lives and prevent damage to critical infrastructure.
“When GRIDCo comes around, and we say move away from our right of way, we are thinking of your good,” he said.
Nigeria: Five Transmission Towers In Akwa Ibom Have Collapsed After Vandalism, TCN Says
Nigeria’s Transmission Company of Nigeria (TCN) said on Friday that five transmission towers in Akwa Ibom state had collapsed after vandals removed critical structural members, forcing the network to reconfigure power supplies in the area.
TCN said the damage was discovered on Aug. 9 during a routine joint patrol of the transmission line by its linesmen.
A preliminary assessment found that critical structural bracing members had been removed from towers N9, J4, N10, N11 and N12, causing the towers to collapse, the company said in a statement signed by its management and shared on X.
Further inspection found that structural members had also been removed and stolen from seven other towers along the same transmission corridor, TCN said.
The affected towers — J3, N8, N13, N14, N15, N18 and N19 — had been structurally compromised and could also collapse, it said.
“To mitigate the impact on electricity supply, the network has been reconfigured to prioritise supply to Ekim transmission station, leaving Ibom Power as the only station without supply,” TCN said.
The company said it was mobilising an urgent intervention to reconstruct the damaged sections of the transmission line and restore normal network operations.
Security agencies had been notified to support investigations and prevent further vandalism along the transmission route, TCN said.
The company condemned the vandalism as an act of sabotage and urged stakeholders and security agencies to remain vigilant as efforts continued to protect critical electricity infrastructure and prevent further disruptions to power supply.
Ghana Gas Posts GHS248 Million Net Profit In 2025 Despite Revenue Decline
The Ghana National Gas Company Ltd (Ghana Gas) posted a net profit of GHS248 million ($21.6 million) in 2025, despite a decline in revenue and gross profit, according to the company’s financial statements.
Gross profit fell to GHS1.23 billion in 2025 from GHS1.54 billion a year earlier, while revenue declined 11% to GHS5.85 billion from GHS6.56 billion.
Chief Executive Officer Judith Adjobah Blay said the decline in revenue was partly due to the appreciation of Ghana’s cedi, while prudent expenditure management and targeted cost-optimisation measures helped mitigate the impact on the company’s bottom line.
“Gross profit for the period amounted to Gh¢1,227,000,000, compared with Gh¢1,536,000,000 in 2024,” the company said in its financial statements. “While direct costs of sales declined during the period, the reduction did not fully absorb the adverse impact of lower approved tariff rates and unfavourable foreign exchange movements, resulting in a reduction in gross profit margin.”
Revenue from the sale of lean gas stood at GHS5.28 billion in 2025, down from GHS5.70 billion in 2024. Revenue from LPG sales fell to GHS482.1 million from GHS604.9 million, while condensate sales declined to GHS91.8 million from GHS255.6 million.
Operating expenses declined 8% to GHS4.62 billion from GHS5.03 billion in 2024, primarily due to lower operations and maintenance costs, the company said.
Ghana Gas invested GHS426 million in capital expenditure during the year, mainly on strategic infrastructure projects aimed at increasing processing capacity and improving the reliability of its gas facilities.
Blay said key achievements during the year included the acquisition of AKSA Energy Limited’s 4-km, 12-inch high-pressure natural gas pipeline in Tema.
The company also signed a construction and tie-in agreement with Continental Blue Investment (CBI) for an 8-inch gas pipeline to transport lean gas for the production of gypsum boards for export, as well as a gas sale and construction agreement with Tetracore Ghana Limited, she said.
“Beyond the visible achievements, there was also a shift in mindset across the organisation,” Blay said.
Looking ahead, Ghana Gas will accelerate investment in gas infrastructure to improve the reliability, security and efficiency of gas delivery while further consolidating its role as the National Gas Transmission Utility, Blay said.
Board Chairman Kofi Totobi Quakyi said the board and management had strengthened governance structures during the year through enhanced internal controls and reporting frameworks, with an emphasis on accountability and ethical conduct.
“These principles continue to underpin our reporting and decision-making processes, safeguard long-term sustainability, and drive organisational performance,” he said.
Energy and Green Transition Minister John Abdulai Jinapor commended Ghana Gas for its operational and financial performance, describing the company as a critical pillar of Ghana’s energy security and industrial development.
Jinapor said Ghana Gas recorded growth in gas processing and LPG production and achieved a 97% increase in net profit during the period under review.
He said the company’s performance underscored its role in supporting the government’s Gas-to-Power agenda and ensuring a reliable supply of natural gas to power producers and other sectors of the economy.
“Ghana Gas delivered strong results, recording growth in gas processing and LPG production, alongside an impressive 97% increase in net profit. These achievements reaffirm the Company’s vital role in strengthening Ghana’s energy security and supporting the Government’s Gas-to-Power agenda,” Jinapor said.
Jinapor said Ghana Gas recorded growth in gas processing and LPG production and achieved a 97% increase in net profit during the period under review.
He said the company’s performance underscored its role in supporting the government’s Gas-to-Power agenda and ensuring a reliable supply of natural gas to power producers and other sectors of the economy.
“Ghana Gas delivered strong results, recording growth in gas processing and LPG production, alongside an impressive 97% increase in net profit. These achievements reaffirm the Company’s vital role in strengthening Ghana’s energy security and supporting the Government’s Gas-to-Power agenda,” Jinapor said. UAE Accuses Iran Of Attacking Two ADNOC Vessels In Strait Of Hormuz
The United Arab Emirates has condemned Iran for attacking two vessels affiliated with Abu Dhabi National Oil Company (ADNOC) while transiting the Strait of Hormuz on Thursday evening.
“The United Arab Emirates has strongly condemned and denounced the hostile Iranian attack that targeted two vessels affiliated with ADNOC as they transited the Strait of Hormuz,” the UAE Ministry of Foreign Affairs said in a statement in the early hours of Friday.
No injuries were reported in the attack, the ministry added.
Iran did not immediately comment on the attack or the UAE’s accusations.
The incident comes days after the UAE reported a similar attack on an ADNOC tanker on Saturday. No injuries were reported in that incident either.
Iran has continued to enforce what it describes as control over passage through the Strait of Hormuz and has sought to impose charges on vessels using the waterway. The United States has strongly opposed the move and has imposed its own restrictions on Iranian shipping.
Iran is currently in talks with Oman over arrangements for the future management of the strait.
Iran’s Islamic Revolutionary Guard Corps (IRGC) has previously threatened action against vessels transiting the strait if they are linked to Tehran’s adversaries or fail to comply with Iranian directives.
The Emirati Foreign Ministry said attempts by Iran to use the Strait of Hormuz as a tool of economic coercion amounted to “piracy” and constituted a “direct threat to the stability of the region, its peoples, and global energy supplies.”
Following Saturday’s attack on an ADNOC vessel, the UAE blamed the IRGC for the strike. That incident drew condemnation from regional and Arab governments.
ADNOC said a total of 15 of its vessels had been attacked while transiting the Strait of Hormuz since the start of the U.S.-Israel war with Iran in February.
The United States and Iran remain at odds over the Strait of Hormuz as mediators seek to bring the two sides back to negotiations.
Iran asserts control over the strategic waterway, challenging U.S. claims of dominance in the strait.