International oil and gas prices dropped dramatically in early 2020 when countries around the world, including Ghana, enacted measures to curb the spread of Covid-19. Rising oil prices continued into early 2022, engendered in part by geopolitical tensions involving some of the world’s largest producers. The turbulent context poses challenges for Ghana’s hydrocarbons sector, which is still in its infancy. But amid the uncertainty, Ghana looked set to embark on cautious progress. Indeed, prices rebounded in 2021 as economic activity gradually returned to normal. Moreover, the government has set out to transform the country into a regional refining centre, with feasibility studies on the Petroleum Centre Infrastructure Master Plan scheduled for 2022. Ghana is also gearing up to deliver more sustainable energy over the long term, in accordance with goals outlined at the 2021 UN Climate Change Conference.
This chapter contains an interview with Rahul Dhir, CEO, Tullow Oil.