Ghana President Urges Accelerated Oil Production Amid Global Energy Shift

President John Dramani Mahama of Ghana has urged international oil companies to accelerate oil production before global energy shifts to renewables diminish the value of petroleum reserves. Speaking at the Africa CEO Forum in Abidjan, he emphasized the urgency of maximizing extraction, offering a welcoming environment for investors to ramp up drilling and production. Mahama highlighted the decline in Ghana's oil output, attributing it to regulatory disputes and lack of investment, and cited companies like ENI temporarily relocating due to such conflicts. Despite advocating increased fossil fuel extraction, he reaffirmed Ghana’s commitment to sustainable energy, with at least 10% of its energy mix mandated from renewable sources. The President also noted Ghana's diversified economy, including gold, cocoa, and lithium resources, and mentioned plans to develop an aluminum production chain. His remarks reflect the challenge for resource-dependent nations balancing immediate economic needs with the global transition to cleaner energy.