Ghana: ECG’s Stranded Critical Material Containers Attract Over Gh¢1.5 Billion Demurrage At Tema Port

Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, has expressed displeasure over the Electricity Company Ghana’s (ECG) inability to clear 2,500 containers of critical materials at the Tema Port. Last week, the new Energy Minister paid a working visit to the Tema Port, where he was overwhelmed by the number of containers procured by the ECG that had been stuck at the port, attracting huge demurrage charges. Jinapor told this portal that, at the time of his visit, the 2,500 containers had attracted demurrage estimated at GHS1.5 billion. “This is unacceptable,” he said. “What led to this untenable situation? Why would ECG adopt this model?” The minister also alleged that some individuals are stealing and reselling these containers at knock-down prices. “The container that cost about $500,000 is being bought by people at $100,000, brought into the open market, and sold to the same contractors. We cannot allow this, and we will not allow it,” he warned. Asked when these containers were procured, Mr. Jinapor said many of them were procured last year. “Many of them were procured last year, and some stayed there for weeks, while others stayed for months. You can guess the level of demurrage and the cost to the taxpayer. We will not allow this to continue. Under my watch as minister, I am determined to bring sanity to the energy sector, particularly the distribution sector.” “I know some people will not be happy, and some of the comments you get are largely because some people benefit from this scheme, and that is the truth. Some people benefit from this scheme while the Ghanaian taxpayer suffers. We cannot allow this, and I am determined to stop it,” he stated categorically. Officials of the Electricity Company of Ghana have yet to comment on the issue.       Source: https://energynewsafrica.com

Nigeria: TCN Restores Full Bulk Power To Apo Transmission Substation

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The Transmission Company of Nigeria (TCN) has restored full bulk power to its 132/33kV Apo Transmission Substation, effective Thursday, January 23, 2025. This restoration followed the successful relocation of eight 132kV and 33kV towers along the Kukwaba/Apo 132kV line (Southern Expressway route), necessitated by the Federal Capital Development Agency’s (FCDA) road dualization project along the Apo axis. According to TCN, the two-week relocation work, which commenced on Monday, January 6, 2025, involved dismantling and reconstructing the towers, as well as restringing power cables. “With the restoration of full bulk power, Abuja DisCo can now provide normal electricity supply from the substation to its customers in the affected areas, ending the previous load rationing,” TCN said. TCN expressed appreciation to Nigerians for their patience and understanding during this period.         Source: https://energynewsafrica.com

Ghana: BOST’s New MD Afetsi Awoonor Meets With Transport Owners To Foster Collaboration

The newly appointed Managing Director of the Bulk Energy Storage and Transportation (BEST) Company Limited, formerly BOST, Mr. Afetsi Awoonor, engaged with the Petroleum Transport Owners at the company’s Head Office in Accra, Ghana’s capital, on Friday. This maiden meeting between Mr. Awoonor and the Transport Owners marked a significant milestone in his tenure as Managing Director. The Transport Owners, who play a vital role in the company’s operations, raised concerns about truck registration and explored opportunities for collaboration. During the meeting, the Transport Owners congratulated Mr. Awoonor on his appointment as Managing Director and pledged their support for his vision. In response, Mr. Awoonor expressed his appreciation for their goodwill and emphasized his commitment to working closely with them. The meeting provided a platform for open discussion, with both parties sharing their perspectives and ideas. The Transport Owners highlighted challenges they faced in their operations, while Mr. Awoonor outlined his plans to address these issues and improve the company’s overall efficiency.       Source: https://energynewsafrica.com

Kremlin Scoffs At Trump’s Claim That A Drop In Oil Prices Will Help End Ukraine Conflict

The Kremlin insisted Friday that a settlement in Ukraine couldn’t be facilitated by a drop in global oil prices as U.S. President Donald Trump has suggested.

Speaking by video from the White House to the annual World Economic Forum in Davos, Switzerland, Trump said on Thursday that the OPEC+ alliance of oil exporting countries shares responsibility for the nearly three-year conflict in Ukraine because it has kept oil prices too high.

“If the price came down, the Russia-Ukraine war would end immediately,” Trump said. Energy sales form a large part of Russia’s earnings.

Asked about Trump’s comments, Kremlin spokesperson Dmitry Peskov affirmed Moscow’s view that the Ukrainian conflict was triggered by the West’s refusal to take into account Russian security interests.

“The conflict doesn’t depend on oil prices,” Peskov said in a conference call with reporters. “The conflict is ongoing because of the threat to Russia’s national security, the threat to Russians living on those territories and the refusal by the Americans and the Europeans to listen to Russia’s security concerns. It’s not linked to oil prices.”

He said Russian President Vladimir Putin remains ready for contacts with Trump.

Peskov’s comments echoed Putin’s statements that he had to send troops into Ukraine in February 2022 to fend off a threat to Russia’s security resulting from plans for Ukraine to join NATO and to protect Russian speakers living there. Ukraine and the West have denounced Moscow’s action as an unprovoked act of aggression.

Asked to comment on Trump’s claim that Ukrainian President Volodymyr Zelenskyy is ready for a peace deal, Peskov pointed out the Ukrainian leader’s earlier decision to rule out any talks with Moscow.

“Zelenskyy can’t be ready for a deal,” Peskov told reporters, adding that “in order to reach a settlement it’s necessary to conduct talks, and Zelenskyy forbade himself to hold talks by his own decree.”

On Wednesday, Trump threatened to impose stiff taxes, tariffs and sanctions on Russia if an agreement isn’t reached to end the war in Ukraine.

Peskov said that the Kremlin was closely following Trump’s statements and noted that he imposed a slew of sanctions during his first term. He said Moscow “remains ready for an equal dialogue, for a mutually respectful dialogue.”

“This dialogue took place between the two presidents during Trump’s first presidency. And we are waiting for signals that we have not received yet,” Peskov said.

      Source: CTV NEWS

Trump Urges OPEC Countries To Slash Oil Prices

President Donald Trump has said he will ask Saudi Arabia and other Opec nations to “bring down the cost of oil” and doubled-down on his threat to use tariffs.

In a speech to executives at the World Economic Forum in Davos on Thursday, the US president said he was “surprised” that OPEC hadn’t brought down the price of oil before the elections.

“Right now the price is high enough that that war will continue,” he said, referring to the Russia-Ukraine conflict and suggesting that the higher crude price was helping to sustain funding for the conflict in Moscow.

“You gotta bring down the oil price,” he said. “That will end that war. You could end that war.”

His remarks follow a conversation he had with Saudi Crown Prince Mohammed bin Salman on Wednesday.

According to Saudi state media, Bin Salman pledged to invest as much as $600bn (£484bn) in the US over the next four years. However, this figure was not mentioned in the White House statement after the call.

Despite the cordial exchange, Trump said he would be asking “the Crown Prince, who’s a fantastic guy, to round it out to around $1 trillion”.

Saudi Arabia is the leading member of OPEC, a cartel of 12 oil-producing nations which has a remit to “work together to ensure stable oil prices”.

The price of crude fell by 1% after Trump spoke.

David Oxley, chief climate and commodities economist at Capital Economics, said his comments are in keeping with the president’s desire for lower gasoline prices.

“It’s his clear intention to use energy as leverage over Russia to end the war in Ukraine. That said, lower oil prices will certainly not incentivise US oil producers to ‘drill, baby, drill’ – particularly in high-cost Alaska.

“Of course, Saudi Arabia would not be guaranteed to heed a request by President Trump to expand oil production and to bring down global oil prices.”

The US president’s appearance via video link at the World Economic Forum marked his first address to a global audience since his inauguration earlier this week.

He used the platform to insist that companies around the world manufacture their products in the US or face bruising tariffs on imported goods entering the American market.

There were a few stony faces as executives left the hall after the speech, but some were happy.

“A very powerful speech,” said one.

“I liked it, I thought it was really good,” said a delegate from the US. “A lot of it made sense, common sense. He’s just looking for fair trade.”

One Swiss executive though was pretty downbeat. “It’s nothing new but it’s clear what he wants to do,” he said.

“Am I happy? No, I’m not happy. I think it’s bad for the world.”

Trump also said he would demand an immediate drop in interest rates, which he said had led to deeper deficits and resulted in what he described as economic calamity under the tenure of his predecessor, President Joe Biden.

“This begins with confronting the economic chaos caused by the failed policies of the last administration,” he said.

“Over the past four years, our government racked up $8 trillion in wasteful deficit spending and inflicted nation-wrecking energy restrictions, crippling regulations and hidden taxes like never before.”

Interest rates are decided by the US Federal Reserve, the central bank which is independent from the government.

Trump also spoke of “good, clean, coal” to power data centres needed for artificial intelligence (AI).

Earlier this week, he announced that a number of firms, including ChatGPT-creator OpenAI, would invest $500bn to build artificial intelligence infrastructure in the US.

“We need double the energy we currently have in the US for AI to be as big as we want to have it,” Trump told delegates at Davos, adding that he would use emergency decrees to speed up the construction of new power plants.

“Nothing can destroy coal – not the weather, not a bomb, nothing,” he said.

      Source: BBC

Ghana: PURC Gets New Executive Secretary

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A senior lecturer at the Institute for Oil and Gas Studies at the University of Cape Coast, Dr Shafic Suleman, has been appointed as the new Executive Secretary for Public Utilities Regulatory Commission (PURC). Besides the University of Cape, Dr Shafic also lectures at Energy Risk Finance at the Ghana Institute for Management and Public Administration (GIMPA). Dr Shafic specialises in energy and sustainability, energy and development, petroleum economics and development, energy policy and law, climate change and risk management. The Public Utilities Regulatory Commission is the economic regulator for electricity and water in the Republic of Ghana. Profile Dr Shafic Suleman, Ph.D., MSc., BA., LLB., ERP., is a Senior Lecturer at the Institute for Oil and Gas Studies at the University of Cape Coast, Ghana. Dr Shafic specialises in energy and sustainability, energy and development, petroleum economics and development, energy policy and law, climate change and risk management. He has been involved in teaching, research and consultancy services in energy and other related areas. Dr Shafic holds a PhD in Energy and Sustainability from the De Montfort University in Leicester, UK. Dr Shafic Suleman is a certified Energy Risk Professional (ERP) from the Global Association of Risk Professionals (GARP-USA), with an MSc in Energy Management from Robert Gorden University Aberdeen, UK. Dr Suleman also holds a BA in Geography from the Kwame Nkrumah University of Science and Technology, Kumasi, and a Bachelor of Laws (LLB) from the University of Cape Coast, Ghana respectively. Dr Suleman’s areas of specialisation include Energy and Sustainability; Petroleum and Energy Economics; Energy Policy and Law and Climate Change and Risk Management.             Source:https://energynewsafrica.com

Ghana:Energy Minister Inaugurates Technical Committee To Draft Framework For Private Sector Participation In ECG And NEDCo

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Ghana’s new Minister for Energy and Green Transition, John Abdulai Jinapor, has inaugurated a seven-member Technical Committee to consult extensively with stakeholders and develop a framework for private sector participation in the operations of the Electricity Company of Ghana (ECG) and Northern Electricity Distribution Company (NEDCo). The committee, chaired by Mr. Jabesh Amissah Arthur, comprises Benjamin Boakye, Executive Director of Africa Centre for Energy Policy (ACEP); Dr. Shafic Suleman, Secretary and newly appointed Executive Secretary of Public Utilities Regulatory Commission (PURC); Simon Akorli from PURC; Mr. Ebenezer Baiden from ECG; Lawyer Emma Akua Bulley; and Mr. Edward Abrokwah.
Jabesh Amissah-Arthur
  The committee has one month to submit its report to the Energy Minister. This approach by the Mahama administration aims to ensure stakeholders’ input in optimizing ECG and NEDCo’s operations. ECG has been identified as a major contributor to liquidity challenges in Ghana’s power sector value chain. Despite recent improvements in revenue collection, more needs to be done to ensure the financial sustainability of the power sector. The Mahama administration believes private sector participation in ECG and NEDCo’s operations will bring efficiency to their revenue collection exercise. During the inauguration, Energy Minister Jinapor explained that the committee’s mandate is to consult extensively with stakeholders and advise the Ministry on the best way forward.
John Abdulai Jinapor, Minister for Energy and Green Transition
According to Minister John Abdulai Jinapor, the new administration has inherited an energy sector that is struggling to stay afloat, characterized as “bleeding and fragile.” To address this, the minister assured that the government has no intention of selling the Electricity Company of Ghana (ECG). Instead, the focus is on getting the private sector involved, with an emphasis on local participation, to bring in much-needed efficiency and investment. “We have not decided to sell ECG,” he assured. “Our goal is to involve the private sector while emphasizing local participation. We want this process to be transparent, effective, and responsible.” Minister Jinapor urged the committee to complete its work within a month, emphasizing the need for a competitive and transparent process to turn the sector around. “The energy sector is bleeding, and if we don’t act quickly, it will collapse,” he warned.           https://energynewsafrica.com

India’s Largest Nuclear Power Plant Receives Key Component For Unit 6

Russian state atomic energy corporation ROSATOM has shipped a VVER-1000 reactor vessel for Unit 6 of the Russian-designed Kudankulam Nuclear Power Plant, currently under construction in India. According to the production schedule, ROSATOM plans to ship a set of four steam generators for the same Unit 6 in 2025. The reactor vessel is a main component of a nuclear power plant, containing the reactor core, coolant, neutron reflector, thermal shielding, control rods, and other internal structures. “Despite our strong position in the nuclear world, we remain committed to continuous development. We are actively improving equipment design to guarantee the highest level of safety and enhancing the economic efficiency of our products. At present, we are working on a new NPP reactor unit with increased capacity and advanced operational characteristics. This new unit will also feature improved technical and economic performance,” noted Valery Kryzhanovsky, General Designer of Rosatom subsidiary experimental design bureau OKB GIDROPRESS JSC. The Kudankulam NPP is India’s largest nuclear power plant and a flagship project of India-Russia collaboration in the field of technology and energy, consisting of six power units. Units 1 and 2 were connected to the Indian national grid in 2013 and 2016, respectively, and now provide energy to southern India. Currently, the construction and installation of units 3 and 4 are nearing completion, and the construction of two power units (Units 5 and 6) within the third stage has commenced. Once all six units are operational, the Kudankulam NPP will meet 50% of Tamil Nadu’s electricity needs (a state with a population of 72 million) and a third of the needs of neighboring states Karnataka, Kerala, and the union territory of Puducherry (combined population of about 100 million). During Indian Prime Minister Narendra Modi’s visit to Russia in July 2024, Rosatom proposed several new projects, including the construction of six more units and small modular reactors (SMRs). Small modular reactors are seen as a suitable solution for countries with limited power grids, including those on the African continent. Rosatom is presenting innovative solutions in this area, such as floating power units, which, together with land-based SMRs, could provide a cost-effective, easily scalable, and rapidly deployable option to meet Africa’s growing energy needs. In November 2024, Rosatom made progress in constructing its other flagship project in Africa – the first NPP in Egypt, El-Dabaa – by starting the installation of the core catcher of Unit 4. The core catcher is part of the passive safety system, designed to prevent the release of radioactive substances into the environment in the event of a severe accident accompanied by destruction of the reactor vessel. El-Dabaa will consist of four power units, 1200 MW each, with pressurized water reactors of Russian class VVER-1200.       Source: https://energynewsafrica.com

South Africa: Sanctioned Russian Bank Fails To Deliver On Mossel Bay Refinery Promise

Gazprombank, a Russian bank, has reneged on a R3.7 billion deal to revive the Mossel Bay gas-to-liquids refinery in South Africa. The deal, announced in December 2023, was part of the South African government’s efforts to revive the refinery, which has been mothballed since 2019. However, documents obtained by amaBhungane.org revealed that Gazprombank failed to deliver on its promises, including providing $200 million in funding and $3 million for a feasibility study. Instead, the bank asked the South African government to provide the funding. The documents also show that Gazprombank’s bid should have scored only 40 points out of 100, rather than the 80 points it was awarded. This would have put the Russian bank’s bid in a distant third place. PetroSA, the South African state-owned oil company, has been left scrambling to find a new partner for the refinery. The company has been criticized for its handling of the deal, with some accusing it of showing favoritism to Gazprombank. The collapse of the deal is a significant blow to the South African government’s efforts to revive the refinery and reduce the country’s reliance on imported fuel. It also raises questions about the government’s decision to partner with a Russian bank, given the sanctions imposed on Russia following its invasion of Ukraine. In a statement, PetroSA said that it was “currently reviewing its options” regarding the refinery and would make an announcement in due course. Gazprombank did not respond to requests for comment.       Source: https://energynewsafrica.com

Italy Plans To Revive Nuclear Power Generation After 40- Years Ban

Italy is making a bold move to revive its nuclear power program, nearly 40 years after it was banned. Energy Minister Gilberto Pichetto Fratin announced that the country aims to finalize a plan by the end of 2027, allowing the use of nuclear power once again. This decision is part of Prime Minister Giorgia Meloni’s right-wing government’s efforts to decarbonize Italy’s most polluting industries, such as steel, glass, and tile making. The government believes that small modular reactors and advanced modular reactors can play a crucial role in achieving this goal. Italy’s nuclear-fired power plants were prohibited following referendums in 1987 and 2011. However, the government is now drafting rules to lift the ban, leveraging new nuclear-power technologies. Pichetto Fratin emphasized that nuclear power will complement renewables, ensuring a balanced and sustainable energy mix. The minister also mentioned that Italy estimates it would save 17 billion euros ($17.7 billion) on the cost of decarbonizing the economy by 2050 if nuclear power makes up at least 11% of its energy mix. The Italian energy and climate plan (PNIEC) even suggests that nuclear power could account for up to 22% of the country’s energy mix. Italy has retained key expertise in the nuclear sector, with state-controlled utility Enel operating nuclear power stations in Spain and energy major Eni investing in a nuclear fusion reactor project in the United States. The country is also in talks with several companies, including U.S. energy group Westinghouse and France’s EDF, to build advanced nuclear reactors.       Source: https://energynewsafrica.com

Estevão Pale Appointed Mozambique’s New Minister For Mineral Resources And Energy

Mozambique President Daniel Chapo has appointed Estevão Pale as the new Minister for Mineral Resources and Energy. Pale, who was appointed chairman of Mozambique’s national oil company ENH in 2020, previously held the position of national director of mines in the Ministry of Mineral Resources and Energy. With his proven leadership and expertise, Pale is expected to accelerate the growth of Mozambique’s energy sector. He is likely to play a key role in engagements with energy majors like TotalEnergies and ExxonMobil, who are poised to restart mega liquefied natural gas projects in the Southern African country. The Mozambican Energy Chamber has hailed Pale’s appointment as a solid choice for citizens and investors alike. The Chamber commended the outgoing Minister, Agostinho Zacarias, for his exceptional contributions to the sector, including the realization of transformative projects like Eni’s Coral South FLNG development. Under Pale’s leadership, the Chamber anticipates a new chapter of growth, focusing on: Local Content, Community Engagement, and Youth and Women Empowerment. Mozambique’s energy industry has immense potential to drive socioeconomic growth, and the Chamber is committed to supporting Pale in achieving this goal. Pale’s appointment is seen as a positive step for Mozambique’s energy sector, and the Mozambican Energy Chamber is committed to supporting him in driving transformative growth and development in the country.         Source: https://energynewsafrica.com

Nigeria: University Of Ibadan Students Protest 82-Day Blackout At UCH

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Students from the University of Ibadan in Oyo State, Nigeria, took to the streets on Wednesday to express their frustration through a peaceful protest over an 82-day power outage at the University College Hospital (UCH) in Ibadan. The hospital, which serves as the teaching hospital for UI medical students, has been without electricity since November 2023 due to unpaid debts owed to the Ibadan Electricity Distribution Company (IBEDC). An official of IBEDC told this portal that the current unpaid debt by UCH is over ₦350 million. According to the official, the company’s stance for UCH to settle their debt to pave way for reconnection as far back as 13 November 2024 remains unchanged. “We are open to discussions on a flexible payment arrangement that could be mutually agreed upon by both parties,” said the official. The official said explained that the company is expected to meet 100% of its market obligations, and the outstanding debt from major customers like UCH directly contributes to the liquidity crisis within Nigeria’s power sector. Led by Students’ Union President Bolaji Aweda, the protesters expressed frustration over the prolonged blackout. “For the past 82 days, UCH has been without electricity due to unpaid bills,” Aweda told reporters. According to him, the situation has affected the living conditions of students and their academics, making them unable to function well. “Our demand is the immediate restoration of power to UCH and other hospitals currently facing a similar situation. “We desire the implementation of the 50 per cent electricity tariff discount announced by the Ministry of Power in Aug. 2024 and the reform of the health sector in Nigeria. “If UCH, the foremost healthcare hospital in Nigeria, is this bad, one can imagine what other health institutions in the country will look like,” he stated. Meanwhile, the immediate past SU president, Tobiloba Samuel, also said they had explored consultative means with the managements of UCH and UI, which yielded nothing. He said the union would issue an ultimatum after the peaceful protest if the relevant stakeholders still failed to act. Samuel noted that the problem had been the new policy in the power sector, which made electricity unaffordable to both educational and health institutions. He said they were told the Ibadan Electricity Distribution Company (IBEDC) had demanded the payment of half of the N3.78 million owed before reconnecting the hospital. “I don’t know how they expect them to pay. We are calling on the Ministry of Education, which plays a regulatory role in the sector, to act. “We are calling on the Federal Government and other stakeholders, not only to save UCH, but other educational and health institutions in similar situations,” Samuel said.     Source: https://energynewsafrica.com

Trump Orders U.S. Waters Open To Oil Drilling, Reversing Biden

U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former President Joe Biden, including revoking his recent decision to bar drilling rigs in some 625 million acres of coastal waters. The shift wouldn’t immediately trigger new offshore lease sales — and environmentalists are vowing to fight it in federal court. Oil companies have also displayed little interest in tapping most of the areas Trump moved to put back in play for leasing. Even so, congressional Republicans are eyeing new offshore oil auctions as a way to raise federal revenue that can help offset the cost of extending the 2017 tax cuts. It could take years — if ever — for Trump’s move to result in new oil and gas development, and it’s not clear it will survive legal challenges. Nevertheless, the effort underscores the new president’s commitment to a frequent campaign pledge: to unlock more of America’s vast stories of energy. Trump’s action also responds to the wishes of one of his top constituencies: the oil and gas industry that’s long sought more drilling opportunities on federal lands and waters. Industry leaders argue oil and gas will be needed for decades, especially given the predicted surge in electricity demand from artificial intelligence. When American resources are developed, energy executives say they come with a smaller carbon footprint than fossil fuels from elsewhere around the world. Trump is “moving swiftly to chart a new path where U.S. oil and natural gas are embraced, not restricted,” said Mike Sommers, head of the American Petroleum Institute.           Source: World Oil

Ghana: GTPCWU Demands Full Scale Investigation Of Immediate Past TOR Board

The General Transport Petroleum Chemical Workers Union (GTPCWU) is calling on President John Dramani Mahama to establish an independent committee to investigate the activities of the immediate-past board of directors of Tema Oil Refinery (TOR). The union alleges that the former TOR board, comprising Mr. Apenteng, Mrs. Sapara Grant and Mr. Ato Morisson, made decisions driven by personal interests that had adverse financial consequences. The GTPCWU claims that the board engaged in non-transparent transactions with affiliates of the previous government. Addressing a press conference in Accra on Wednesday, 22nd January 2024, the National Chairman of GTPCWU and Chairman of TUC, Brother Bernard Owusu, highlighted the offences of the board members. He indicated that the board was negligent by engaging Decimal Capital-VITOL in a joint partnership with TOR, even when VITOL had written to the Energy Ministry about not having such an arrangement (financial and technical support) with Decimal Capital. Continuing, he said the board also engineered the incorporation of a special purpose vehicle – Torentco Asset Management Limited – by the shareholders of Decimal Capital to cover up all its structural irregularities and flaws identified by the union executives. “With the above-failed attempts, TOR BOD colluded with the shareholder of Torentco Asset Management Limited, Mr. Michael Darko, and Mr. Christopher Hesse-Tetteh, including some compromised workers of TOR, to incorporate the Tema Energy and Processing Limited in August 2023. These TOR workers were made to incorporate a company limited by guarantee named TOR Workers Charity Trust for 20% shares in Tema Energy and Processing Limited without the knowledge or approval of TOR Management and Workers,” he said. Brother Bernard Owusu also called for investigation into the removal and resignation of all objective and astute general managers and the subsequent reassignments of incorruptible managers and officers for those whom the TOR BOD could easily manipulate. He further called for review of promotions of all five workers involved in the incorporation of TOR. Concluding, Mr. Owusu also demanded an investigation into the processes leading to the TOR BOD issuance of Request For-Proposal (RFP) and the supposed signed agreement with NETOIL. “As a UNION with an oversight responsibility over the workers of TOR, GTPCWU has written to key stakeholders, including the Attorney General’s Office, the Office of the Special Prosecutor, State Interests and Governance Authority (SIGA), the Ministry of Finance and the Ministry of Energy in respect of TOR’S partnership with all the above entities, raising every identified irregularities,” he said. “Notably, the response from the Attorney General to GTPCWU substantiated our concerns about the lack of capacity and transparency in the transaction. Additionally, findings by the Special Prosecutor raised significant irregularities that necessitated instructions to halt the Tema Energy and Processing transaction. While we acknowledge the importance of private participation or the dilution of the ownership structure of TOR for private participation in TOR’s transformational agenda, we believe it should not be a ruse for state asset exploitation and misappropriation,” he added.           Source: https://energynewsafrica.com