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Total crude oil production in 2024 stood at 48.24 million barrels – Finance Ministry reports

Ghana's total crude oil production in 2024 stood at 48.24 million barrels, according to the Finance Ministry's 2025 Budget Statement and Economic Policy.  The Greater...

Trade surplus recorded as gold, crude oil push Ghana’s exports to $9.23bn in first half of 2024 – BoG report

Ghana recorded a provisional trade surplus of $1.81 billion for the first half of 2024, driven largely by growth in gold and crude oil...

Oil prices decrease as geopolitical tensions remain

Crude oil prices have fallen as geopolitical tensions and market uncertainties weighed on supply and demand dynamics. Despite robust demand in the U.S., oil...

Gold exports in 2023 surge to $7.60bn, crude oil, cocoa, timber exports decline – BOG

Gold exports reached $7.60 billion, marking a 15.0% increase compared to the previous year. This growth is primarily attributed to a 9.2% rise in...

Crude oil production dwindled from 71.44m to 48.25m in 2023 – PIAC Report

Ghana's crude oil production witnessed a downturn for the fourth consecutive year in 2023, as highlighted in the report by the Public Interest and...

Aliko Dangote’s refinery set to buy 24 million barrels of crude oil

Dangote Refinery is seeking millions of barrels of U.S. crude oil, according to a document reviewed by Reuters. The refinery, with a capacity of 650,000...

Nigeria mandates oil companies to sell to local refineries

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on behalf of the federal government, has introduced new regulations mandating oil producers to prioritize selling crude...

Fitch adjusts 2024 Crude Oil forecast to $80 

Leading rating agency, Fitch Solutions, has adjusted its crude oil forecast for 2024 to $80.0 per barrel, marking an increase from the earlier projection...

Govt grapples with over GHS143m compensation debt for impacts of road construction – Director of Urban Roads

The Department of Urban Roads, under the leadership of Director Ing. James Amoo-Gottfried, has disclosed that the government faces a road construction compensation debt...

13% decrease in half-year crude oil production per PIAC reports

During the first half of 2023, crude oil production in the country experienced a significant decline, raising concerns about petroleum revenues and regulatory compliance....

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