News Guide Africa

Tag: Petroleum Commission

  • Capital Inflows & Macro Stability: Ghana attracts $2.61bn FDI as inflation cools to 4.6%

    Capital Inflows & Macro Stability: Ghana attracts $2.61bn FDI as inflation cools to 4.6%

    By Adnan Adams Mohammed

     

    Ghana’s economic turnaround has gained significant momentum as a dual wave of plunging inflation and surging Foreign Direct Investment (FDI) underscores a swift transition from macroeconomic crisis to market stability.

    Fresh data reveals that the nation attracted US$2.61 billion in investment inflows across 253 projects in 2025, marking a sharp rebound in investor confidence. The surge in capital coincides with headline inflation dropping to 4.6 percent in July 2026, down from 5.3 percent in June, showing a steep fall from 12.1 percent recorded in July 2025.

    The figures signal that broad-based structural reforms, currency stabilization, and tightening fiscal measures are converting macroeconomic recovery into tangible business expansion.

    Investments Follow Rebuilt Confidence

    Delivering the opening address at the launch of the 2025 Annual Investment Report at the Bank of Ghana, Bank of Ghana Governor Dr. Johnson Pandit Asiama emphasized that the foreign capital inflows reflect a restored environment for capital deployment.

    “The journey of 2025 is therefore not merely a story of recovery; it is a story of restoration restoring stability, rebuilding confidence, and laying the foundation for sustainable and inclusive growth,” Dr. Asiama stated. “Investment, at its core, follows confidence.”

    Dr. Asiama noted that capital flows are increasingly shifting toward high-value sectors, including manufacturing, agribusiness, logistics, and technology-enabled services. He added that the strategic positioning of Ghana as the host of the African Continental Free Trade Area (AfCFTA) Secretariat offers a long-term anchor for cross-border industrial development.

    Reinvested Earnings and Capital Breakdown

    Provisional figures from the Ghana Investment Promotion Centre (GIPC), the Petroleum Commission, and the Ghana Free Zones Authority show that existing operators are doubling down on their local positions. Out of the total inflows, $1.83 billion stemmed from reinvested earnings.

    “The investment environment has indeed improved, and the fact that we have seen over $2.6 billion in FDI inflows in 2025 is an indication that something positive is happening in the country,” said Simon Madjie, Chief Executive Officer of the GIPC. “More than $1.83 billion of the inflows came from reinvested earnings, a development which demonstrated that existing investors were deepening their operations in the country rather than exiting the market.”

    According to agency breakdowns:

    ● GIPC Registered Projects: Accounted for $1.437 billion across 180 projects.

    ● Upstream Petroleum Sector: Attracted $994 million across 18 companies.

    ● Free Zones Authority: Captured $165 million in new capital investments.

    By country of origin, China led by total project volume with 70 projects, while the Cayman Islands topped investment value at $500 million, followed closely by China ($486 million) and Nigeria ($105 million).

    Cooling Inflation Eases Operating Costs

    The surge in private sector investment comes as input costs stabilize across supply chains. Reporting on the latest Consumer Price Index (CPI), Government Statistician Alhassan Iddrisu highlighted that domestic price pressures are subsiding, largely driven by a slowdown in food price inflation to 3.1%.

    “Food prices continue to stabilise, and that is helping to slow overall inflation,” Iddrisu said. “We also see that domestic costs remain the main driver of inflation, which means maintaining stability in transport, energy and local production is important.”

    For institutional investors and local enterprises, the reduction in price volatility offers predictable horizon planning and protects real yield metrics. Analysts point out that with the central bank holding policy rates steady to preserve stability, Ghana is cementing its position as a primary commercial hub in West Africa.

     

  • Ghana targets oil field emissions as EPA unveils strict methane regulations

    Ghana targets oil field emissions as EPA unveils strict methane regulations

    New Operational Standards Aim to Cut Greenhouse Gas Waste and Reinforce National Climate Commitments

    By Adnan Adams Mohammed

     

    Regulatory oversight in Ghana’s petroleum sector took a firm turn forward today as the Environmental Protection Agency launched a comprehensive policy package designed to systematically curb methane emissions from oil and gas fields.

    The new measures establish aggressive monitoring guidelines and operational restrictions aimed at minimizing environmental impacts while maximizing gas recovery across all domestic offshore and onshore projects.

    The newly introduced directives mandate energy companies operating in Ghana’s offshore and onshore blocks to implement advanced Leak Detection and Repair (LDAR) technologies, eliminate routine gas flaring, and submit continuous emission monitoring reports to the agency.

    Speaking at the official unveiling of the regulatory guidelines in Accra, the Executive Director of the EPA emphasized the urgent need to address short-lived climate pollutants that accelerate global warming.

    “Methane is a potent greenhouse gas with a warming impact significantly higher than carbon dioxide in the short term,” stated the EPA Executive Director. “By tightening these controls, Ghana is sending a clear signal to the energy market that environmental responsibility and resource extraction must go hand in hand. Compliance will be strictly enforced across all operational fields.”

     

    Under the updated framework, oil and gas operators will be subject to mandatory third-party audits and potential financial penalties for failure to meet designated reduction targets within established timelines.

    Industry stakeholders and civil society representatives have welcomed the initiative, highlighting its potential to position Ghana as a regional leader in sustainable energy practices while reducing wasteful natural gas losses.

    Commenting on the compliance roadmap, a senior representative from the Petroleum Commission noted that the sector is prepared to collaborate with regulators to ensure a smooth transition toward low-emission operational standards.

    “Our goal is to ensure that Ghana’s hydrocarbon resources are developed responsibly,” the official noted. “Adopting modern monitoring technologies not only mitigates environmental risks but also preserves valuable gas resources that can be processed for national power generation.”

     

    Climate policy analysts have also praised the timing of the regulations, pointing out that reducing methane emissions offers one of the fastest, most cost-effective ways to slow down current rates of global warming.

    “This regulatory tightening reflects Ghana’s proactive stance on international climate obligations,” remarked an environmental policy expert during the event. “Enforcing these standards will safeguard local ecosystems and demonstrate to international investors that Ghana remains dedicated to high-standard, sustainable energy development.”

     

    The EPA confirmed that implementation of the new guidelines will take effect immediately, with a multi-phase transition period granted to current operators to upgrade equipment and integrate state-of-the-art detection systems.

     

  • Foreign confidence rebounds as Ghana secures historic US$2.61bn in FDI Inflows

    Foreign confidence rebounds as Ghana secures historic US$2.61bn in FDI Inflows

    By Adnan Adams Mohammed

    Foreign Direct Investment (FDI) inflows into the Ghanaian economy has experienced a monumental surge, reaching an estimated US$2.61 billion during the 2025 fiscal year.

    The stellar performance, contained in provisional data released by the Ghana Investment Promotion Centre (GIPC), marks a dramatic multi-fold jump from the US$617.61 million recorded during the previous operational cycle.

    Compiled from joint institutional tracking alongside the Petroleum Commission and the Ghana Free Zones Authority, the provisional returns capture 253 registered projects and major expansions by existing companies.

    Financial analysts and state actors point to the numbers as explicit validation that international markets are responding positively to Ghana’s aggressive macro-fiscal adjustments, stabilizing inflation trends, and structural reforms.

    Reinvested capital signals deep long-term commitment

    A highly notable feature of the newly released data is that a significant share of the US$2.61 billion came directly from the reinvested earnings of multinationals already situated in the country. This structural trend indicates that existing corporate entities are scaling up local production lines rather than repatriating their returns or divesting from the West African hub.

    Addressing the press following an executive board and management review session, the Chief Executive Officer of the GIPC, Simon Madjie, emphasized that the data showcases a tangible shift in global sentiment toward the domestic economy.

    “The investment environment has indeed improved, and the fact that we have seen over US$2.6 billion in FDI inflows is an indication that something positive is happening in the country,” Madjie declared. “This strong performance signals renewed investor confidence in the economy… It reflects growing confidence among both local and international investors in the country’s economic prospects.”

    China and India dominate project portfolios

    The structural composition of the investment baseline reveals a diverse mix of country sources and targeted sectors. By physical project count, China solidified its position as Ghana’s largest bilateral investment source country, registering 70 distinct projects over the review period. India followed closely as the second most active participant with 22 projects, while sub-regional neighbor Nigeria accounted for 10 projects. The United Arab Emirates and the United Kingdom also maintained prominent profiles, registering nine and eight projects respectively.

    In terms of capital allocation, the GIPC recorded 180 entirely new ventures valued at US$1.44 billion. Concurrently, the upstream petroleum sector remained a powerful magnet for foreign capital, with the Petroleum Commission registering 18 major projects valued at an estimated US$994 million. Strategic export-oriented infrastructure operating under the Ghana Free Zones Authority successfully attracted an additional 142 investments worth US$165 million.

    Narrative matching economic data

    State officials note that maintaining this upward trajectory requires projecting an accurate, professional image of the national landscape to global capital markets. Highlighting this factor, the Board Chairman of the GIPC, Akwasi Oppong-Fosu, urged media stakeholders to serve as development partners by providing objective, factual coverage of the country’s regulatory advancements.

    “Investor confidence is influenced not only by raw economic data but also by the narrative presented about the country,” Oppong-Fosu observed during the press engagement. “The media has a critical role to play in projecting a balanced and positive image of Ghana to the international investment community, highlighting our stability, transparent rules, and structural readiness to host tier-one global industries.”

    Overcoming internal chokepoints to sustain growth

    While the multi-billion dollar inflow marks a clear victory for economic managers, the local business community emphasizes that the state must continuously refine domestic operating conditions to ensure these foreign projects thrive. Indigenous business chambers note that while macroeconomic indicators like currency volatility have smoothed out, manufacturing and industrial firms still grapple with elevated utility tariffs and high operational overheads.

    The GIPC maintains that its ongoing collaborative drives with the Bank of Ghana and other cross-cutting state entities will focus on aggressively slashing administrative red tape and deploying targeted investment incentives. With major international conglomerates already signaling over US$5 billion in prospective project pipelines for the coming years, economic actors are optimistic that Ghana is firmly anchoring its position as the preferred, independent investment frontier across Sub-Saharan Africa.

     

     

     

     

  • Industry experts express confidence in Lawyer Nasir’s appointment as Petroleum Commission dep. CEO

    Nasir Alfa Mohammed, Deputy CEO Petroleum Commission

    Adnan Adams Mohammed

    Industry experts have expressed confidence in the appointment of Lawyer Nasir Alfa Mohammed as the Deputy Chief Executive Officer (CEO) of the Petroleum Commission (Acting) by President John Dramani Mahama.

    They believe his expertise in governance and legal reforms and advocacy is needed to enhance the Commission’s regulatory framework and policy direction as the government plans to increase investment in the petroleum sector to maximise government revenue while ensuring best practices in forbearance to the legal system of Ghana.ng best practices in forbearance to the legal system of Ghana.

    Having worked in the natural resources sector for over a decade. His work has shaped public law reform in Ghana, with a particular focus on the rule of law, energy and natural resources policy, constitutional and administrative law, and maritime governance.

    Mr Alfa Mohammed served on the Public Interest and Accountability Committee (PIAC) for a considerable number of years as Vice Chairman, representing the Ghana Bar Association (GBA) after chairing the Technical Sub-Committee and Legal Sub-committees, he contributed immensely to the reforms and effectiveness of PIAC.

    On the side of his legal profession, he has previously held senior legal advisory positions at Ali-Nakyea & Associates and Atuguba & Associates, as well as at the Centre for Maritime Law and Security (CEMLAWS-Africa).

    On the part of his rich advocacy skills, he has been a Policy Advocacy Officer at the Natural Resource Governance Institute (NRGI) from 2019 to 2021, where he led efforts to strengthen Ghana’s legal and policy frameworks for resource management. Prior to that, he served as a senior policy analyst at the Africa Centre for Energy Policy (ACEP), where he held management and advisory roles.

    Petroleum Commission is the regulator with oversight responsibility of Ghana’s upstream oil and gas sector. The Commission is also mandated to facilitate and promote investment in the upstream petroleum sector. While ensuring compliance with industry laws, promotes local participation in the sector, and facilitates investments.

    The newly appointed Ag. CEO of the Petroleum Commission holds a Master of Laws (LLM) from the University of Dundee in the UK, a Qualifying Certificate for the Practice of Law (QCL) from the Ghana School of Law, and both an LLB and a BA from the University of Ghana.

    He is a member of both the Ghana Bar Association (GBA) and the International Bar Association (IBA) and has also co-authored scholarly publications on energy and natural resource governance in global journals.

    As he takes on his new role, his leadership is expected to contribute to effectively shape the future of Ghana’s upstream sector.

  • Experts repose confidence in Lawyer Nasir’s appointment as Petroleum Commission dep. CEO

    Nasir Alfa Mohammed, Deputy CEO Petroleum Commission

     

    Adnan Adams Mohammed

     

    Industry experts have expressed confidence in the appointment of Lawyer Nasir Alfa Mohammed as the Deputy Chief Executive Officer (CEO) of the Petroleum Commission (Acting) by President John Dramani Mahama.

     

    They believe his expertise in governance and legal reforms and advocacy is needed to enhance the Commission’s regulatory framework and policy direction as the government plans to increase investment in the petroleum sector to maximise government revenue while ensuring best practices in forbearance to the legal system of Ghana.

     

    Having worked in the natural resources sector for over a decade. His work has shaped public law reform in Ghana, with a particular focus on the rule of law, energy and natural resources policy, constitutional and administrative law, and maritime governance.

     

    Mr Alfa Mohammed served on the Public Interest and Accountability Committee (PIAC) for a considerable number of years as Vice Chairman, representing the Ghana Bar Association (GBA) after chairing the Technical Sub-Committee and Legal Sub-committees, he contributed immensely to the reforms and effectiveness of PIAC.

     

    On the side of his legal profession, he has previously held senior legal advisory positions at Ali-Nakyea & Associates and Atuguba & Associates, as well as at the Centre for Maritime Law and Security (CEMLAWS-Africa).

     

    On the part of his rich advocacy skills, he has been a Policy Advocacy Officer at the Natural Resource Governance Institute (NRGI) from 2019 to 2021, where he led efforts to strengthen Ghana’s legal and policy frameworks for resource management. Prior to that, he served as a senior policy analyst at the Africa Centre for Energy Policy (ACEP), where he held management and advisory roles.

     

    Petroleum Commission is the regulator with oversight responsibility of Ghana’s upstream oil and gas sector. The Commission is also mandated to facilitate and promote investment in the upstream petroleum sector. While ensuring compliance with industry laws, promotes local participation in the sector, and facilitates investments.

     

    The newly appointed Ag. CEO of the Petroleum Commission holds a Master of Laws (LLM) from the University of Dundee in the UK, a Qualifying Certificate for the Practice of Law (QCL) from the Ghana School of Law, and both an LLB and a BA from the University of Ghana.

     

    He is a member of both the Ghana Bar Association (GBA) and the International Bar Association (IBA) and has also co-authored scholarly publications on energy and natural resource governance in global journals.

     

    As he takes on his new role, his leadership is expected to contribute to effectively shape the future of Ghana’s upstream sector.

     

     

  • Ghana losses US$923mn investment expenditure to inactive oil blocks awarded – ACEP

    Ghana losses US$923mn investment expenditure to inactive oil blocks awarded – ACEP

    Adnan Adams Mohammed

    The African Center for Energy Policy (ACEP) has reported that, inactive oil blocks which numbers more than 10 have denied Ghana of about US$923 million as at 2019.

    Ghana since 2007 has awarded 18 oil blocks to various oil exploration and production companies. Out this, only three blocks have been developed and producing, that include the Jubilee field, TEN fields and the SGN field.

    Although, according a report from the Petroleum Commission has indicated that, four inactive oil blocks have been canceled so far, which includes the Shallow Water Cape Three Point, Onshore/Offshore Keta Delta blocks among others.

    “Inactivity by oil block holders is causing the country to losses huge revenues as well as denying the country of potential investors”, Samuel Bokoe, an energy consultant has said during a training session organised for media persons and CSOs in Accra, last week. “The Petroleum Commission and relevant stakeholders must up their game to cancel all inactive oil block contracts so they can be available for the next bid rounds.”

    The training organised by the Natural Resorce Governance Institute (NRGI) to help enhance the capacity of CSOs and media to use publicly available contracts in the Petroleum Register to demand accountability brought together officials from the Petroleum Commission, selected media persons anti-corruption and energy focused CSOs for a day training.  

    The training sought to create awareness about the petroleum register and, provide skills required for CSOs and journalists to understand how to navigate the petroleum register.

    Some participants who spoke to the Economy Times after the training testified that, they have acquired skills needed to analyze and understand petroleum contracts including other publicly disclosed contracts to complement the efforts of oversight actors and regulators in monitoring these contracts.