• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Avert ‘depleting’ investor confidence in petroleum upstream sector – ACEP to government

4 years ago
in Energy, highlights, Home, home-news, latest News
2 min read
0 0
0
132
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The African Centre for Energy Policy (ACEP), has called on government to ‘act right’ and preserve the investment climate of the oil industry and ultimately avert what it describes as ‘depleting’ investor confidence in the country’s petroleum upstream sector.

The assertion by ACEP follows the exit of oil major, ExxonMobil from Ghana and the ongoing impasse between Eni Ghana and Springfield over the execution of a Unitization and Unit Operating Agreement (UUOA) of the Sankofa and Afina oil fields.

ACEP in a press release issued on Thursday, June 3, averred the current happenings in the oil industry has the potential to undermine progress made over the years in encouraging investments to the sector, particularly given the current global energy transition from fossil fuel to cleaner sources of energy.

“The positive response of major oil producers and investors to the transition is promoting alternative energy sources that are significantly suppressing the demand growth for fossil fuels. A scan of the strategy of major oil producers shows a clear transition path to becoming energy companies through extensive Research and Development (R&D),” stated ACEP.

Adding the shift to cleaner sources of energy is shrinking available capital for investments in new exploration activities in the oil industry and generating extreme competition for limited exploration funds.

In the attainment of the climate change goals contained in the 2015 Paris Agreement and transition from fossil fuels to renewable energy and low carbon emissions, big oil majors like Eni, BP, Total and Shell, have all written-down their assets and reduced capital for oil exploration by billions of dollars.

ACEP, on the back of the recent events has therefore urged government to undertake transparent stakeholder engagements to create a more positive, assuring and less risky political environment to engender investments into the sector.

RelatedPosts

Top 10 African Countries With the Strongest Currencies in August 2025

How Crypto Engagement is Finding a Place in Everyday African Life

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

Read details of the press release:

ACEP’s Comments on the Eni-Springfield Unitisation Tussle and ExxonMobil’s Exit From Ghana by Fuaad Dodoo on Scribd

Source: norvanreports
Tags: African Centre for Energy Policy (ACEP)ExxonMobilinvestment climate of the oil industry
No Result
View All Result

Highlights

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

CHAN 2024: Senegal Edges Sudan on Penalties to Claim Third Place

Lands Minister Initiates Repeal of L.I. 2462 to Protect Reserves and Combat Galamsey

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

Trending

Business

Top 10 African Countries With the Strongest Currencies in August 2025

August 30, 2025

Top 10 African Countries With the Strongest Currencies in August 2025 In an interconnected world where economies...

How Crypto Engagement is Finding a Place in Everyday African Life

August 30, 2025

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

August 30, 2025

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

August 30, 2025

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

August 30, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.