The Ghanaian government is seeking approval to secure up to USD 1.65 billion in loans as state-owned Ghana National Petroleum Corporation aims to acquire new assets to speed up exploitation in the context of the energy transition.
After a few uncertain months, as OPEC oil cuts continued and Covid restrictions came back into place, oil demand for 2021 finally seems stable, with price and demand increases set to continue.
Lifting the ban on renewable energy Power Purchase Agreements (PPAs) would be a major hurdle removed, to allow for the explosion of renewable energy projects and initiatives in Ghana, for purposes of de-carbonization, cost-efficient energy supply, and for economic recovery and growth post Covid-19.
Government has initiated the process to acquire 37% stake in Deep Water Tano Cape Three Points and 70% stake in the South Deepwater Tano
Eni delivered exceptional results in the second quarter of the year, according to the company’s chief executive officer.
The Court of Appeal (Civil Division) sitting in Accra has dismissed an application by Eni Ghana Exploration and Production Limited and Vitol Upstream Ghana Limited for stay of execution of a High Court ruling in the ongoing unitization legal tussle between the two companies and Springfield Exploration and Production Limited.
The ongoing tussle between Eni Ghana and Springfield Exploration regarding the unitisation of the Sankofa Field and Afina discovery will do little to sway investor appetite for the country’s oil and gas industry, Institute for Energy Security (IES), has said.
Egbert Faibille, CEO of the Petroleum Commission of Ghana, has confirmed his attendance and participation at African Energy Week (AEW) 2021, taking place in Cape Town on the 9th-12th of November. Confirmed to deliver a keynote address at the event, Faibille will attend AEW 2021 with a delegation of industry leaders and executives from Ghana, including Hon. Minister Dr. Matthew Opoku Prempher and representatives from the Ghana National Petroleum Corporation (GNPC).
Oil analysts and economists believe that $70 a barrel is a more realistic outlook for Brent Crude prices for the rest of the year than $80 oil, as COVID variants and the geopolitics of oil will continue to be a source of volatility on the market, the monthly Reuters poll showed on Friday.
Despite global expectations to move away from coal, demand in China is still strong, as rising global temperatures causing heat waves are driving up electricity demand and coal prices.