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GHANA
Oil and Gas
- Ghana Nears Agreement for Petroleum Hub Project Take-Off
The Minister of Energy and Green Transition, Dr. John Abdulai Jinapor, has announced that the Government is close to signing an agreement to commence development of the Petroleum Hub project in the Jomoro Municipality of the Western Region.
The project is expected to include three refineries, five petrochemical plants, storage facilities, jetties and port infrastructure. According to the Minister, the project forms part of the Government’s ambition to position Ghana as a major petroleum processing and trading hub in West Africa and reduce reliance on imported refined petroleum products. - TGS and Petroleum Commission Sign Agreement for Keta Basin Data Project
TGS, an energy data and intelligence company, has signed an agreement with the Petroleum Commission, Ghana, to develop a new offshore data project across the Keta Basin.
The project will deploy TGS’s 2D-cubed technology to convert existing seismic data into a dataset that provides explorers with improved subsurface information. The project is intended to help companies assess the basin’s resource potential and support future exploration activities, with final products expected in Q1 2027. - Ghana Plans Jubilee Crude Allocation to Tema Oil Refinery
The Government of Ghana has stated that the next parcel of Jubilee crude will be allocated to the Tema Oil Refinery (TOR) as part of efforts to revitalise the state-owned refinery and strengthen domestic refining capacity.
The planned allocation follows the earlier supply of a one million barrel parcel of crude oil from the Jubilee Field for processing by local refineries, including Sentuo Oil Refinery. According to the Minister of Energy and Green Transition, expansion projects at TOR and Sentuo Oil Refinery are expected to enable both facilities to meet approximately 70% of Ghana’s domestic demand for refined petroleum products upon completion.
Mining
- Cabinet Approves Proposed Amendments to Ghana’s Minerals and Mining Act
Ghana’s Cabinet has approved proposed amendments to the Minerals and Mining Act, 2006 (Act 703), with the revised Bill expected to be submitted to Parliament for consideration and approval.
The proposed amendments include reducing the maximum duration of mining leases from 30 years to 20 years, replacing reconnaissance and prospecting licences with exploration licences capped at 5 years, and introducing Community Development Agreements as part of mining lease arrangements. The reforms are intended to strengthen governance in the mining sector and ensure that host communities derive greater benefits from mineral development. - GoldBod 30% Gold Offtake Arrangement Takes Effect
The Government of Ghana, acting through the Ghana Gold Board, has reached an agreement with the Ghana Chamber of Mines for GoldBod to purchase 30% of the gold output of all large-scale mining companies in Ghana. The arrangement became effective on 1 July 2026.
Under the arrangement, the relevant gold output will be sold to GoldBod in doré form at a 0.55% discount, with settlement in Ghana cedis using the Bank of Ghana Reference Rate.
The arrangement is intended to support local refining, local value retention and Ghana’s reserve accumulation programme. GoldBod also stated that the arrangement is aimed at supporting Ghana’s target of securing London Bullion Market Association accreditation for at least one local gold refinery by 2030. - Ghana and World Gold Council Partner to Formalise Artisanal Gold Mining
The Government of Ghana, acting through the Ministry of Lands and Natural Resources, has signed a memorandum of understanding with the World Gold Council to support the formalisation of artisanal and small-scale gold mining.
The partnership is intended to improve gold supply chain transparency, reduce illegal gold trading and promote responsible gold production. It is also expected to support miner training, gold traceability systems, technology-enabled improvements in mining operations and the development of responsible gold processing plants.
As an initial contribution, the World Gold Council has committed US$250,000 to support the registration of mining cooperatives under Ghana’s Responsible Cooperative Mining and Skills Development Programme.
Energy Transition
- Ghana Announces 1.5GW Solar and Battery Storage Plan
The Government of Ghana has announced plans to co-develop up to 1.5GW of utility-scale solar power supported by battery energy storage systems.
The initiative is intended to provide cheaper and more sustainable energy for industry under the Government’s 24-Hour Economy programme, which seeks to expand domestic manufacturing and value addition.
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