Energy transition threatens operations of National Oil Companies – PIAC
The Public Interest and Accountability Committee (PIAC) has stated that the global shift towards sustainable energy sources is putting National Oil Companies (NOCs) under significant pressure. According to PIAC, factors such as climate change awareness, energy security needs, and advancements in renewable technologies, are challenging the traditional oil and gas industry. PIAC in its latest Issue Paper titled ‘The Role of The Ghana National Petroleum Corporation (GNPC) in the Upstream Petroleum Industry: Challenges and Prospects,’ stated that the transition can reduce the demand and value of their core products, expose them to environmental, social, and governance (ESG) risks and liabilities,...
