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Energy

NPA Releases Ex-Pump Price Floors For June 1–15, 2026

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The National Petroleum Authority (NPA) has announced the Ex-Pump Price Floors for the period June 1 to 15, 2026, setting the minimum prices below which no Oil Marketing Company (OMC) or LPG Marketing Company (LPGMC) is permitted to sell petroleum products. Under the new window, petrol must not be sold below GHS 15.20 per litre, while diesel carries a floor of GHS 15.49. LPG has been set at a minimum of GHS 13.48 per kilogram, MGO Local at GHS 15.67, and Kerosene at GHS 14.81 per litre. The NPA has directed all OMCs and LPGMCs to strictly comply with these price floors as per the Petroleum Products Pricing Guidelines (PPPG). Compared to the May 16–31 window, petrol has risen by GHS 0.60, LPG by GHS 0.32  while diesel, MGO Local and kerosene floors have declined by GHS 0.32,GHS 0.32 and GHS 0.52 respectively.

Energy

GOIL PLC Records GH₵90,672,000 Net Profit in 2025 Despite Revenue Decline

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Ghana’s leading downstream petroleum company, GOIL PLC, has recorded a net profit after tax of GH₵90,672,000 for the 2025 financial year representing a 7.04% increase from the GH₵84,698,000 posted in the corresponding period of 2024. According to the company’s 2025 consolidated financial statements even though net profit increased by 7.04% gross revenue however decreased by 8.91%,falling from GH₵20,364,600,000 in the 2024 financial year to GH₵18,549,204,000 in the 2025 financial year. On operating expenses,staff, selling and administrative expenses declined from GH₵488,336,000 to GH₵456,924,000 while depot and station expenses fell from GH₵159,660,000 to GH₵142,407,000, contributing to an operating profit before financing costs of GH₵230,020,000 compared to GH₵244,919,000 in the prior year. On the balance sheet, GOIL’s total assets grew marginally from GH₵4,808,209,000 to GH₵4,881,934,000, supported by growth in property, plant and equipment which rose from GH₵1,630,174,000 to GH₵1,781,759,000 — reflecting continued investment in the company’s infrastructure and service network. Total equity strengthened from GH₵894,082,000 to GH₵991,541,000, driven by retained earnings which climbed from GH₵643,215,000 to GH₵707,662,000. Total liabilities for the period also decreased by GH₵23,734,000 falling from GH₵3,914,127,000 in 2024 to GH₵3,890,393,000 in 2025. The improved bottom line translated into better returns for shareholders. Earnings per share rose to GH₵0.231 from GH₵0.216 in 2024, while dividend per share increased to GH₵0.060 from GH₵0.056.

Energy

Zen Petroleum Eyes Market Leadership in 5 Years-Board Chairman

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The Board Chairman of Zen Petroleum,Mr Frank Adu has signaled ambitious growth plans following the company’s listing on the stock exchange, vowing to challenge established players in Ghana’s downstream petroleum sector. Speaking after the listing which took place on Wednesday April 22,2026,Mr Adu stated that the company could close the gap on its four larger competitors in the industry in less than five years. He added that the company intends to grow its network of fuel stations significantly, describing the capital raised through the listing as the financial engine behind an accelerated rollout. “We will overtake them. I think that is a process. You know, we started off basically in being a box of masterminds.Downstream, now we are building a network of these stations. Part of the reason we raised all this money is that we roll out a lot more than we did. So, you give us some time.We will get there. 5 years, 4 years, 10 years? Probably less. Less.5 years or less. Probably less.” Mr Adu stated The chairman also distanced Zen Petroleum from industry concerns around product adulteration and regulatory compliance, pointing to the company’s partnership with Spanish energy giant Repsol as a guarantee of quality standards. “But I believe that most of the companies in the Downstream sector are responsible companies. You have the odd single station operator, etc. Who will bring in the bad products or something like that. But Zen Petroleum will not do something like that. You know, we have standards.We have international partners. You saw here, for instance, the Repsol. That’s an international company.We cannot do anything that would damage our image in our station. Because of that international relationship. So, yes, there will be problems. But we are not going to be one of those.”he added A self-described advocate of using capital markets to grow businesses having previously led the Ghana Stock Exchange, Mr Frank Adu framed the listing not as a one-off fundraising exercise but as part of a broader philosophy of building Zen Petroleum into a credible,institutional-grade downstream player.

Energy

ECG Completes Lashibi Primary Substation Upgrade

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The Electricity Company of Ghana has announced the successful completion of the Phase 2 of the Government’s transformer Replacement and Upgrade Programme at the Lashibi Primary Substation. In a statement released on Thursday,April 16,2026 it explained that the project which was initially scheduled for completion on Friday,April 17,2026 was completed ahead of time due to amount of work put in by its technical team . It added that as a result of this power has been restored ahead of time to the affected areas. The company also added that it will soon undertake a nationwide replacement of aging transformers in affected areas to not only improve power supply but to also reduce frequent outages and reduce system overload. The company then assured the general public of its commitment to delivering improved and reliable electricity services to support Ghana’s development while’s noticing Ghanaians to stay alert for information on the next power transformer upgrade as it nears its finalization.

Energy

Government Announces Petroleum Relief For Consumers With 2 Cedis reduction per liter on diesel and 36 Pesewas reduction per litre on petrol.

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The Government of Ghana has announced that effective ,Thursday April 16,2026 it will provide a relief package to ease the burden to petroleum consumers by absorbing GHC2.00 per litre on diesel and GHC0.36 per litre on petrol. In a statement issued on Wednesday, April 15 2026 by Spokesperson to the President and the Minister in Charge of Government Communications, Felix Ofosu Kwakye, he explained that love aims at reducing the cost burden on households, transport operators, and businesses. Felix Kwakye Ofosu added that the intervention which is expected to remain in operation for a period of one month comes at a short term response rising prices of petroleum products on the international market. He added that even though this intervention has been put in place,government will continue to monitor the international market and adjust its policies if the need arises highlighting the government’s commitment to supporting Ghana’s economic recovery in the face of external shocks.

Energy

IMANI Africa, COPEC, INSTEPR, IES Propose GH¢1.65 Relief on Petroleum Prices

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Four civil society organizations namely IMANI Africa, COPEC Ghana, INSTEPR, and the Institute for Energy Security (IES) have jointly recommended a cumulative reduction of GH¢1.65 from the current petroleum price build-up, calling on the Ministers of Finance and Energy to extend the proposed relief period from four weeks to two months. The proposal announced in a statement released on Tuesday,April 14, 2026 follows a directive by President John Mahama during the recent cabinet meeting,instructing the Ministry of Energy and Ministry of Finance to review the petroleum price build-up and recommend possible reductions in taxes, margins, and levies to offer temporary relief to Ghanaians. While acknowledging the government’s intent, the CSOs argued that the two-month window would provide more meaningful and sustained relief compared to the four-week timeline initially floated by government. “While some of us in the civil society space believe that the relief should be substantial given the level of tolerated waste across the downstream petroleum ecosystem, it must nevertheless not lead to a sudden corrosive effect on operations and sustainability of the petroleum subsector,” the organisations stated in their joint communiqué. The groups further noted that the recommended reduction would not unduly burden the country’s fiscal space, pointing to expected windfalls from upstream crude production and exports within the same period. Beyond the immediate relief, the four organisations are collectively pushing for a more comprehensive and permanent overhaul of Ghana’s fuel pricing regime. Among their key recommendations are: • A thorough rationalisation of all existing taxes, levies, and margins, with the aim of permanently removing those deemed a drag on individual and national resources. • The establishment of a Strategic Reserve Fund, to be seeded by some of the levies under review, with revenues earmarked for the purchase and storage of fuel reserves that can be deployed to stabilise the domestic market during unforeseen disruptions. • Modernisation and retooling of the Tema Oil Refinery (TOR) and Bulk Oil Storage and Transportation Company (BOST), enabling TOR and partner refineries to process more of the country’s crude liftings domestically, while BOST builds the infrastructure needed to store larger volumes. The organisations noted that the commitment to invest in TOR and BOST was a pledge made by President Mahama at his last engagement with civil society groups and hence must be met.

Energy

GNPC’s Explorco Owes Ghana Over US$561 Million in Unaccounted Petroleum Revenue — PIAC

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The Public Interest and Accountability Committee (PIAC) has raised fresh alarm over the failure of Explorco, a subsidiary of the Ghana National Petroleum Corporation (GNPC), to account for petroleum revenues owed to the Republic of Ghana. In its 2025 Annual Report released on 8th April 2026, PIAC revealed that Explorco has failed to account for petroleum revenue amounting to US$561,648,785.37 due the government between 2022 and 2024 ,despite numerous calls by the Committee for the funds to be deposited into the Petroleum Holding Fund (PHF). PIAC’s Chair, Richard Ellimah, signed off on the report which formally recommends that “GNPC and its subsidiary, Explorco, should account for petroleum revenue amounting to US$561,648,785.37 due government and deposit same into the PHF.” The persistence of the issue across multiple reporting cycles points to a pattern of non-compliance that PIAC says can no longer be overlooked.

Energy

Ghana’s Oil Output Hits Six-Year Low as Petroleum Receipts Plunge by 43%

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Ghana’s crude oil production has declined for the sixth consecutive year, with the Public Interest and Accountability Committee (PIAC) confirming a sharp drop in both output and petroleum revenues in its 2025 Annual Report. According to the report, published on 8th April 2026, crude oil production fell from a high of 71.44 million barrels in 2019 to 37.3 million barrels in 2025 representing a compounded annual average decline of nine percent. The report also revealed that total petroleum receipts for 2025 amounted to US$770,274,933.75, a 43.27 percent decrease compared to the US$1,357,793,869.40 recorded in 2024 with PIAC attributing the decline largely to reduced production and lower realised prices across the producing fields. Corporate Income Tax remained one of the highest revenue streams, contributing US$346,847,999.77 to the Petroleum Holding Fund (PHF) in 2025 with ENI Ghana, Vitol Upstream, and Tullow Ghana being cited among the major contributors. PIAC’s findings confirm what analysts have long warned that Ghana’s oil fields have peaked and are on a downward spiral. In response, PIAC is urging the government, through the Petroleum Commission, to develop a framework to improve investment in existing producing fields, particularly the TEN field, where production has underperformed initial projections. The Committee also called for improvements to the existing regulatory and fiscal frameworks and data acquisition in new basins.

Energy

Rising Fuel Prices Could Push Up Food Production Costs – Industry Leaders Warn

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The Chairman of the Food and Beverages Association of Ghana, John Awuni, has cautioned that rising global fuel prices could soon increase the cost of food production in Ghana. Speaking on the PM Express Business Edition on Joy News, he explained that higher petroleum prices are already affecting key inputs such as fertilizer, packaging materials, and transportation factors that could ultimately drive up food prices in the coming farming season. “If fuel prices go up, it has an effect because the cost of production is going to increase,” Mr. Awuni said. He explained that diesel powers many industrial machines while vehicles used in logistics also rely heavily on fuel. He further noted that fuel prices are a major component in determining energy tariffs, together with exchange rates. According to him, any increase in fuel prices is likely to raise energy costs for businesses. “Energy costs add to your cost of production. Therefore, the total cost of production will go up and prices will also have to increase for businesses to remain operational,” he stated. Mr. Awuni added that transportation costs would also rise, affecting the movement of goods across the supply chain and pushing inflation higher. Meanwhile, Chief Executive Officer of the Association of Ghana Industries, Seth Twum-Akwaboah, also warned that rising fuel prices will increase both energy and transport costs for manufacturers.  According to him, several goods will become more expensive because many production inputs depend on petroleum-based materials. “Packaging materials that rely on petroleum products will go up internationally as fuel prices rise,” he explained. Mr. Twum-Akwaboah also indicated that fertilizer prices are likely to increase, particularly because many fertilizers are imported from the Middle East. This, he said, could significantly raise production costs for farmers during the next cropping season. “So the next cropping season, farmers are likely to incur higher costs producing maize, soya beans and other crops locally, and that will push prices up,” he said. He added that transportation and logistics costs will also increase as global oil prices approach $100 per barrel. According to Mr. Twum-Akwaboah, Ghana already faces high production costs, and further increases in fuel prices could worsen the situation for businesses and farmers alike.

Energy

NPA Raises Minimum Prices for Petroleum Products in Second March 2026 Pricing Window

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The National Petroleum Authority (NPA) has adjusted the minimum price floors for petroleum products for the second pricing window of March 2026, effective March 16, signalling potential increases in retail fuel prices across Ghana. The updated floor prices show significant increases for petrol, diesel, and liquefied petroleum gas (LPG) compared to the first half of the month. • Petrol has been revised to GHȼ11.57 per litre, up from GHȼ10.46 per litre between March 1 and 15. • Diesel now stands at GHȼ14.35 per litre, rising sharply from GHȼ11.42 per litre. • LPG has been adjusted to GHȼ10.67 per kilogramme, up from GHȼ9.38 per kilogramme. These adjustments translate to increases of GHȼ1.11 for petrol, GHȼ2.93 for diesel, and GHȼ1.29 for LPG within the same month, indicating mounting pressure on fuel prices that could affect consumers in the second pricing window of March.