GNPC proposes African energy collaboration

The Ghana National Petroleum Corporation (GNPC) has stressed the need for stronger collaboration among African countries to fully harness their energy resources amid the global shift towards renewables.

Chief Executive Officer of the Corporation, Kwame Ntow Amoah, made the call on the sidelines of the 7th African Petroleum Producers’ Organization (APPO) National Oil Companies CEOs Meeting in Accra.

His remarks come as the Public Interest and Accountability Committee (PIAC) cautions that the energy transition could threaten the sustainability of national oil companies, including GNPC.

“We want a just transition. Even the companies that have been pushing transition, some of them have realized that it is not a straight line. The lack of investments as a result of energy transition actually led to the increase in oil prices. So it is not going to be a straight line as such. We believe that collaborating with ourselves because we have vast resources that are untapped [and] so if Africans can collaborate with ourselves, we should be able to develop the assets that are threatened to be stranded,” Kwame Ntow Amoah said.

The Public Interest and Accountability Committee (PIAC) last year warned that the global energy transition poses a major threat to the survival of national oil companies, including the Ghana National Petroleum Corporation (GNPC).

PIAC cautioned that the shift could erode demand and value for fossil fuels, expose companies to environmental, social, and governance (ESG) risks, and weaken their competitive edge and market share.

In its report, “The Role of GNPC in the Upstream Petroleum Industry: Challenges and Prospects,” PIAC noted that building resilient national oil companies in the era of transition will require strategic vision, innovation, and adaptation.