Source: https://energynewsafrica.com Nigeria: Mainstream Foundation Rehabilitates Madaki School In Zungeru
Mainstream Foundation, the philanthropic arm of Nigeria Mainstream Energy Solutions Limited, has inaugurated the newly renovated and equipped Madaki Primary School in Zungeru.
This maiden intervention project showcases the Foundation’s determination to revolutionize the socio-economic landscape of the community after the takeover of operations at the hydropower plant.
The Madaki Primary School was built in 1990 and like many public primary schools had been plagued by infrastructural decay, but Mainstream Foundation’s intervention has breathed new life into it.
At the inauguration ceremony, dignitaries including representatives of the Emir of Kagara, the Emir of Minna and the Local Government Chairman of Wushishi were present to witness the transformative work carried out on the school.
A statement issued by the Head of Corporate Communications, Olugbenga Adebola, quoted the Chairman, Board of Directors for Mainstream Energy Solutions Limited, Col Sani Bello (RTD), emphasising the importance of education in shaping the future of children.
He quoted the Chairman as stating that “times are changing, and only the educated can take part in changing the future,” Col Bello urged the stakeholders to ensure children remain in school.
The Executive Secretary of Mainstream Foundation, Mr Siraj Abdullah, reiterated the Foundation’s commitment to community development, stating; “We want to assure the Chairman and the people of the community, that this work given to us will not stop until it is achieved.”
He stated this while taking time to thank the civil project team of the Foundation, acknowledging the hard work put into making the inauguration a reality.
Mainstream Foundation’s intervention in the school extends beyond improving the infrastructure and providing furniture as the teachers have also been earmarked for training to provide holistic teaching and learning improvement.
This approach underscores the Foundation’s dedication to creating a lasting impact.
As Mainstream Foundation continues to transform the landscape of Zungeru, its focus on education, environment, health and community empowerment serves as a shining example of responsible corporate citizenship.
With projects like Madaki Primary School, the Foundation is rewriting the narrative of community development in that geographic corridor.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com Kenya: President William Ruto Orders Cancellation Of Airport, Power Deals With Adani Group After US Corruption Charges
Kenyan President William Ruto has ordered the cancellation of a procurement process that was expected to award the control of the country’s main airport to India’s Adani Group after its founder was indicted in the United States.
Under the proposed deal to expand the main Nairobi Airport, Adani was to add a second runway at the Jomo Kenyatta International Airport and upgrade the passenger terminal.
“I have directed agencies within the Ministry of Transport and within the Ministry of Energy and Petroleum to immediately cancel the ongoing procurement,” Ruto said in his State of the Nation Address, attributing the decision to “new information provided by investigative agencies and partner nations”.
An Adani Group firm signed a 30-year, $736-million public-private partnership deal with the Energy Ministry last month to construct power transmission lines in a separate project.
Kenya’s Energy Minister, Opiyo Wandayi, said on Thursday that there was no bribery or corruption involved in the award of the transmission lines contract.
Ruto’s announcement was met by applause from lawmakers present in parliament where he gave his address.
Representatives from Adani Group did not immediately respond to a request for comment.
U.S. authorities alleged on Wednesday that Adani Group founder Gautam Adani, one of the world’s richest people, and seven other defendants, had agreed to pay about $265 million in bribes to Indian state government officials for getting projects.
The Adani Group denied the allegations and said in a statement that it would seek “all possible legal recourse.”
The airport proposal was made public in July, after it was leaked on social media four months after it was made.
In September, a Kenyan court temporarily blocked a proposed airport lease deal, which would have run for 30 years in exchange for expanding it.
Source: https://energynewsafrica.com
Benin Unveils Ambitious Climate Action Framework At COP29 To Drive Green Transition And Sustainable Development
The Government of Benin, in collaboration with international financial institutions and development partners, has launched (on 15 November) an ambitious climate action framework to accelerate the country’s green transition and support sustainable development.
Unveiled at this year’s United Nations Climate Conference (COP29) in Baku, Azerbaijan, several new initiatives encompass a carbon monetization mechanism, innovative credit instruments, a common policy matrix, and advanced financing strategies. These efforts underscore Benin’s commitment to unlocking climate finance for transformative impact.
This multifaceted framework is designed to mobilize both public and private sector resources to address Benin’s climate adaptation and mitigation priorities, supporting the nation’s sustainable development goals (SDGs) and Nationally Determined Contributions (NDCs) while preserving debt sustainability.
Romuald Wadagni, Senior Minister at the Ministry of Economy and Finance of Benin stated: “With strong support from our partners, Benin is translating climate goals into concrete action…Leveraging our experience in international capital markets, like our 2021 SDG bond framework, we aim to unlock private investment to drive climate action. By harnessing innovative financing, we are transforming our ambitions into concrete results that will advance adaptation and mitigation efforts.”
He added: “It is a commitment to a sustainable, resilient future that will resonate beyond Benin’s borders for the greater benefit of our planet.”
Benin has a proven track record in climate policy and financing, supported by $1.4 billion from the World Bank Group’s International Development Association (IDA) and an additional $200 million from the IMF’s Resilience and Sustainability Facility (RSF).
These financial commitments, alongside a €195 million partial credit guarantee from the African Development Bank, lay the foundation for Benin’s pathway towards a low-carbon, climate-resilient future.
In a joint Climate Finance Roundtable co-convened by the IMF and the World Bank Group in July 2024, the Government of Benin and its development partners expressed full commitment to reinforcing Benin’s efforts in addressing climate change by supporting the country in establishing a climate finance country platform through further catalyzing financial resources.
The estimated financing gap to achieve the goals set in Benin’s NDCs is about $10 billion by 2030. Following this roundtable, the partners have been working on financing options and technical assistance to boost Benin’s efforts to enhance its climate action.
Key Climate Action Streams:
- Carbon Monetization Mechanism with Enhanced Credit Instruments
- Enhanced Budget Support through a Common Policy Matrix
- Attracting Private Investment through Innovative Financing
- Establishing a One-Stop Window for Local Financial Access
Africa’s Agenda At COP29
The African Group of Negotiators and leaders came to COP29 with a bold call for equitable climate finance, stronger global partnerships, and urgent action to address the climate crisis.
Their message emphasizes Africa’s role in global climate solutions while demanding accountability and meaningful progress from the international community.
The negotiators are calling for an ambitious new climate finance target of $1.3 trillion annually by 2030, reflecting the scale of the continent’s needs and the $3 trillion estimated to implement its Nationally Determined Contributions (NDCs).
Among the least responsible for global emissions, the continent suffers some of the most severe impacts of climate change, losing an average of 5% of GDP annually to climate disruptions.
This agenda follows months of hard work by the African Group of Negotiators, supported by the Economic Commission for Africa (ECA), the African Union Commission, the African Development Bank, and AUDA-NEPAD.
These institutions collaborated to ensure the continent arrived at COP29 with a unified strategy addressing climate finance, renewable energy, and nature-based solutions.
ECA played a key role in refining countries’ NDCs and bringing stakeholders together to align positions. Regional consultations ensured that governments, youth, and private sector voices shaped Africa’s priorities for the negotiations.
A central focus of the continent’s agenda is equitable climate finance. Many African nations spend more on servicing debt than on healthcare or education. Leaders are calling for financial reforms to make funding accessible, affordable, and timely.
The Loss and Damage Fund, established at COP28, is a critical piece of this effort. Operationalizing the fund would provide essential resources to countries already suffering from floods, droughts, and rising sea levels.
Africa’s natural resources, particularly the Congo Basin, are a significant focus. The basin absorbs 1.5 billion tons of carbon annually and has sequestered 31 billion tons to date.
Without adequate protection, this critical resource risks releasing its stored carbon into the atmosphere. The undervaluation of Africa’s carbon credits only compounds this challenge.
Currently, carbon credits from Africa sell for as little as $5 per ton in voluntary markets, compared to over $80 in regulated markets.
African leaders are advocating for a comprehensive framework to guide compliance markets, ensuring transparency and credibility in carbon trading.
The continent is also showcasing its solutions. It has immense renewable energy potential, with abundant solar, wind, and hydropower resources.
Investments in renewable energy projects are already underway, from Morocco’s solar farms to Kenya’s geothermal energy initiatives. Expanding these projects could cut emissions, create jobs, and power industries.
Nature-based solutions are another pillar of the continent’s approach. Initiatives like afforestation, reforestation, and the protection of mangroves play a dual role—capturing carbon while preserving biodiversity.
The Congo Basin, often referred to as the planet’s lungs, is central to this strategy. African nations are calling for investments that align with conservation goals and provide financial returns.
Agriculture remains at the forefront of discussions. The livelihoods of millions depend on farming, yet extreme weather and droughts are disrupting harvests. Leaders are championing climate-smart practices such as drought-resistant crops and efficient irrigation systems to strengthen food security.
African leaders have also recognized the need for internal reforms. Strengthening governance and ensuring transparency in climate financing are critical to maximizing the impact of resources. Regional partnerships are being bolstered to ensure resources are shared and used efficiently.
Claver Gatete, United Nations Under-Secretary-General and Executive Secretary of ECA, emphasized the cost of delay, stating, “The cost of inaction is far greater than the investment required to build a resilient and prosperous future for Africa.”
The continent has presented its priorities and solutions. It has demonstrated leadership in renewable energy, conservation, and climate finance. The question remains whether global partners will act decisively to meet these challenges.
Source: UNECA
Shanghai Electric Empowers Africa’s Industrialization With Accumulated 28 Power Supply Projects Put Into Operation
Celebrating its 17-year journey in Africa, Shanghai Electric (SEHK:2727, SSE:601727) is proud to have contributed to the industrialization and development of the region’s power infrastructure.
Since 2007, the company has successfully completed 28 power supply projects across African countries, constructing 1,457.16 kilometers of transmission lines and 51 power plants and substations. These achievements have delivered reliable electricity to millions, driving industrial progress and improving livelihoods in the vivid Africa.
“Industrialization in Africa is spurring unprecedented growth in energy demand. The foundation of power supply is not only critical to development but also to ensuring people’s livelihoods. Shanghai Electric is honored to collaborate with African partners to build a modern and thriving continent,” said Yang Xinghai, a senior executive at Shanghai Electric.
Powering Africa: A Journey of Growth and Innovation
Over the past 17 years, Shanghai Electric has expanded its footprint from North Africa to East and West Africa, developing and highlighting a diverse range of transmission and distribution projects, among others:
- Djibouti’s Railway Electrification (2014): Shanghai Electric constructed a 230kV substation and 83.85 kilometers of transmission lines to supply power to the Addis Ababa-Djibouti railway. By offering an innovative dual-end power source solution, the project ensured efficient and reliable electricity for railway operations. Additional contributions in Djibouti include multiple substation upgrades and expansions, including the Doraleh Substation, Ghoubet Substation, Marabout Substation, and Palmeraie Substation transformer expansion projects, as well as the 63KV high-voltage line linking the capital’s two main stations (Boulaos and Marabout).
- Ethiopia’s Transmission Network (2008): Shanghai Electric has delivered eight major EPC projects in Ethiopia, including the BBDA 400kV transmission line project, Renaissance Dam transmission systems, and the Ethiopia-Djibouti railway power supply. The cumulative effort includes 1,115 kilometers of high-voltage transmission lines and 11 substations.
- Angola’s Urban Revitalization (2020): Shanghai Electric modernized the medium- and low-voltage power grids in Huambo and Caála, benefiting one million residents and over hundreds of enterprises with improved and stable electricity access.
- Nigeria’s Grid Modernization: In Lagos, Shanghai Electric upgraded ten aging substations, significantly enhancing the reliability of electricity for both residential and commercial users. Additionally, it completed two critical 330/132kV and 132/33kV substations, Egbin Substation and Makogi Substation, in northern Nigeria, benefiting over 500,000 residents.
Ghanaians Likely To Experience ‘Intense’ Load Shedding
Ghanaians are likely to experience ‘intense’ load shedding as three of the independent power generators have allegedly planned to shut down their power plants over unsustainable debt owed them by the largest power distribution company – Electricity Company of Ghana (ECG).
The independent power generators contribute more than 60 per cent of the power produced in the West African nation.
Already, the largest Independent Power Generator, Sunon Asogli Power Ghana Limited, has shut down its 560-megawatt combined-circled power plant over $259 million debt owed them by ECG.
Since the shutdown of Sunon Asogli Power Plant in October, Ghanaians have been experiencing power outages, especially from 6 p.m. through to midnight each day.
At times, when power goes off at 6 p.m., it returns by 11 p.m. or the following day.
This has been going on for more than a month even though there is no official statement from ECG.
On Tuesday, November 19, 2024, Dr. Elikplim Kwabla Apetorgbor, Chief Executive Officer of Independent Power Generators, Ghana warned that the power situation in the country could worsen as three independent power generators have also given indication of shutting down their power plants over unsustainable debt.
According to him, the three independent power producers (IPPs) are likely to shut down their plants by either Friday or Monday.
“We are up to date with our numbers, so we know what we are talking about. The government does not even know how to account for the power sector figures,” he said.
Independent checks by this portal indicate that the IPPs are not happy with the level of indebtedness to them by ECG.
Data obtained by this portal showed that key plants like Aksa which generates about 370 MW and Karpower Plant which produces 450 MW generated less than 100 megawatts each last night.
Other plants also generated less of their capacity.
Meanwhile, speaking on Accra-based Joy FM’s midday news on Tuesday, the former Deputy Minister for Energy, Andrew Egyapa Mercer, dismissed claims that load shedding is being implemented.
According to him, although the government through the Ministry of Finance has been negotiating with the IPPs over the debt owed them, there is nothing like generation shortfall to warrant any load shedding.
In his view, all is well with the power sector and urged those predicting doom to desist from it.
“I don’t have any information that suggests that there is load shedding. So I am wondering where they are getting that information from.
“I am on a platform that posts daily supply forecast demand and I have not seen any information from the value chain that there is outage,” he told the hostess, Emefa Apau.

Source: https://energynewsafrica.com

Source: https://energynewsafrica.com Tesla Recalls More Than 57,000 Cybertrucks In 2024
Marketed as a durable, rugged vehicle, Tesla’s (NASDAQ: TSLA) Cybertruck has faced persistent criticism over performance issues, including breakdowns under basic conditions like rain, ever since its release.
Considering the growing reputation, it may come as no surprise that Finbold’s research found Tesla might have been forced to recall up to 57,332 Cybertrucks since the start of 2024 – an average of 172 units per day since January 1.
In total, there have been five recalls affecting the Cybertruck specifically in 2024, and one that was listed as potentially affecting more than 2 million Tesla vehicles across multiple models dating as far back as 2012.
The first of the Cybertruck-specific issues was announced on April 17, 2024. The recall was due to the danger of the accelerator pedal getting ‘trapped’ if ‘high force’ was applied to it, per Tesla’s official announcement.
The EV maker offered free corrections for the pickup and estimated the fix would take approximately 15 minutes. In total, 3,878 may have been affected, per the data available on the National Highway Traffic Safety Administration (NHTSA) website.
On June 19, Elon Musk’s EV maker issued two recalls due to potential issues with Cybertruck’s front wiper, and a trim piece called the sail applique. The first of these could have led to the front wiper motor malfunctioning. It was described as a free, 30-minute fix, affecting 11,688 vehicles at most.
The second was a problem with how the trim piece was attached, which could lead to it falling off. It potentially affected a slightly greater number – 12,150 – Cybertrucks, but again, it was described as a fix that would take 30 minutes at most.
Lastly, the most recent recall – and the last one to require physical intervention – occurred on November 5. It sought to resolve a problem in the drive inverter that could lead to a loss of power.
It was another fix administered free of charge but also the lengthiest intervention, as Tesla estimated it would take approximately three hours. Data retrieved from NHTSA also revealed that as many as 2,431 Cybertrucks may be suffering from the issue.
In September, Tesla issued its first over-the-air (OTA) firmware update correction for Cybertrucks in 2024. This update, announced on the 26th day of the month, was designed to resolve a problem with the rearview camera that could have led to a display delay once the truck was set in reverse.
The September 26 recall is particularly interesting both because it is an OTA fix and because of the large number of vehicles affected – 27,185. Indeed, there is a possibility the update inadvertently revealed the total number of Cybertrucks shipped between November 13, 2023, and September 14, 2024.
Due to Tesla Motors staying tight-lipped about the actual number of Cybertrucks sold, the recalls have been used throughout the year to estimate the likely total number of these pickups sold.
The June recalls in particular, were at the time seen as an admission of the sales figures to their size relative to other such announcements. Still, there are some problems with using the NHTSA safety data to gauge how many units were shipped to customers.
For example, nearly all of the recalls affected Cybertrucks manufactured after November 13, but the latest announcement – November 5, 2024 – demonstrated that at least some of the models were made as early as November 6, 2023.
Finally, it is worth pointing out that the figures provided on the NHTSA website represent the potential maximum number of affected vehicles, and the actual number of Cybertrucks suffering from the described issues could be significantly lower.
Despite the recall rate potentially approaching 200%, the situation might prove similar to the broader reputation of Tesla cars as spontaneous combustion engines. The actual number of instances in which Tesla vehicles caught fire for no apparent reason is minuscule compared to what the public perception and online representation suggest.
Source :Andreja Stojanovic
Ghana: President Akufo-Addo Commissions 200 MW Power Plant In Tema
The President of Ghana, Nana Addo Dankwa Akufo-Addo, has commissioned a 200-megawatt combined-circled power plant in Tema in the Greater Accra Region under the partnership of Early Power Limited and Endeavor Energy, an independent power generation company.
The capacity of the plant will be expanded to about 590 megawatts in the near future, and it is expected to cost about $1.2 billion dollars.
The President was joined by the US Ambassador to Ghana, Her Excellency Virginia Palmer, and other government officials to commission the plant.
President Akufo-Addo described the project as a significant step forward in securing Ghana’s energy independence and providing reliable electricity needed to drive economic growth, industrialisation and national development.
“This project stands as a testament to our resilience and ambition. It represents a shift away from the energy crises of the past, particularly the difficult years of dumsor between 2012 and 2016, which disrupted lives and livelihoods. Today, we send a clear message: Ghana will no longer be held back by energy shortages. The Bridge Power Station provides critical megawatts to the national grid, ensuring greater power stability for homes and businesses alike,” he said in a post on Facebook.
According to President Akufo-Addo, reliable electricity is the backbone of national development—it powers industries, illuminates classrooms and supports hospitals.
According to him, the impact of this facility extends far beyond industry, adding that “it enables hospitals to deliver life-saving care, schools to prepare our future leaders, and rural communities to thrive.”
The Bridge Power Station, he said, is also a step towards sustainability, showcasing our commitment to an efficient energy mix, with lower carbon emissions. This achievement reinforces our dedication to building a greener, healthier future for generations to come.
“As we celebrate this monumental milestone, let us remember that reliable power fuels opportunity, prosperity, and dignity for every Ghanaian. Together, we will continue to build a self-sufficient and globally competitive Ghana.”
He expressed gratitude to the American partners and Her Excellency Virginia Palmer, the U.S. Ambassador to Ghana, for their steadfast support and presence at the commissioning of the project.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com Nuclear Power In The COP29 Spotlight As Countries And Companies Eye Climate Solutions
Nuclear power is in the spotlight at the United Nations Climate Change Conference (COP29) in Azerbaijan, where both countries and industries presented plans to deploy the carbon-free energy technology, building on the historic consensus to accelerate its use that emerged from last year’s climate summit.
Reaching global decarbonization targets by 2050 will require a significant expansion of nuclear power. This was acknowledged at the first Nuclear Energy Summit in March 2024 as well as in the Global Stocktake at COP28 and the pledge by more than 20 countries to seek to triple nuclear capacity.
But to get there, capital is urgently needed, said IAEA Director General Rafael Mariano Grossi. “Finance institutions need to evolve with the changing demands of the market—and there’s a clear demand for and growing interest in nuclear,” Mr Grossi said at a high-level event co-hosted by the COP29 Presidency and the IAEA that focused on financing low-carbon energy projects including nuclear power.
The high-level event featured speakers including Mr Grossi and Parviz Shabazov, Minister of Energy of Azerbaijan; Herbert Krapa, Deputy Minister of Energy of Ghana; Fatih Birol, IEA Executive Secretary; Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA); Tatiana Molcean, Executive Secretary of the United Nations Economic Commission for Europe (UNECE); Mark Bowman, Vice President for Policy and Partnerships, European Bank for Reconstruction and Development (EBRD); Sama Bilbao y Leon, Director General of the World Nuclear Association; and Seth Agbeve, Director of Renewable Energy at the Ministry of Energy of Ghana.
The event followed the signing of a memorandum of understanding by the IAEA and Azerbaijan in which the Agency agreed to provide energy planning capacity building services, including a joint analysis under the Atoms4NetZero initiative on the potential role of nuclear energy in Azerbaijan’s clean energy transition.
Noting the importance of nuclear energy for Azerbaijan’s future, Azerbaijan Minister of Energy Parviz Shahbazov said at the event that “Azerbaijan sees opportunities for nuclear energy to be part of its energy mix in the future, as clean energy.”
Mr. Grossi signed cooperation agreements with several organizations at COP29. The company LinkedIn agreed to support capacity building in the nuclear sector with training, data insights and networking.
The IAEA and IRENA agreed to cooperate on joint missions, training, data sharing and case studies to support energy planning and clean energy goals. The European Bank for Reconstruction and Development and the IAEA agreed to cooperate on nuclear safety, decommissioning, environmental remediation and nuclear energy.
Source: IEA
UK Energy Regulator Eyes Up To $10.2 Bln Fund To Aid Green Targets
Britain’s energy regulator Ofgem said on Wednesday it had begun consultations over a new investment fund of up to 8 billion pounds ($10.16 billion) that could help the country’s net zero prospects and aid energy transmitters to cut delays and costs.
The proposed fund, worth between 5 billion pounds and 8 billion pounds, would provide allowances for transmission owners to buy in advance equipment such as switchgear, cables and steel, thereby accelerating deliveries of projects, Ofgem said.
The regulator also added that the fund, consultation for which will run until Dec. 18, would help the government achieve clean power by 2030, and net zero targets eventually, among other things.
The consultation comes after Ofgem said last month it would offer developers of renewable energy storage projects a guaranteed minimum income to spur investment in technologies that would help Britain meet its climate targets.
Ofgem has proposed that it would be clear in its rules to ensure that the latest fund is used only for intended purposes, and that any unused allowances would be returned to consumers so as to minimise any impact on their energy bills.
Source: Reuters.com
Ghana: Herbert Krapa Confirmed Energy Minister
Ghana’s President Nana Akufo-Addo has appointed Mr Herbert Krapa as the substantive Minister for Energy after five months of being the Minister of State at the Energy Ministry.
His appointment is effective 19th November 2024, a statement issued by Eugene Arhin, Director of Communications at the Presidency, said.
Mr Krapa previously served as Deputy Minister for Energy and Board Chairman of the Electricity Company of Ghana.
According to the President, Krapa had distinguished himself and contributed significantly to the progress and stability of Ghana’s Energy sector.
About Herbert Krapa
Herbert Krapa is a governance and legal expert who served as the Government’s Spokesperson on Governance and Legal Affairs at the Ministry of Information until December 2020.
He is an astute lawyer, called to the Ghana Bar in 2017, with experience in Trade and Investment Law, Commercial Law and Debt Restructuring, among others.
He previously worked as a lawyer at Africa Legal Associates, a reputable law firm in Ghana.
Krapa holds a Bachelor of Laws Degree from the University of Ghana and a Masters of Laws Degree from the London School of Economics and Political Science, UK, where he specialised in International Finance, Secured Financing, International Commercial Arbitration and Corporate Crime.
He also holds a Masters of Science Degree in Development Finance from the University of Ghana Business School and a Certificate in Human Rights Law from Fordham University in New York.
He is a lecturer at the University of Ghana School of Law where his research focuses on both legal philosophy and global constitutionalism.
Herbert Krapa is a member of the Ghana Bar Association, the Programme for African Leadership and the Criminal Justice Reform Ghana.
CREDENTIALS
MSc (Development Finance) – University of Ghana Business School, Legon, Accra, Ghana
Masters of Laws – London School of Economics and Political Science, London, UK
Certificate (Human Rights Law)- Fordham University, New York, USA
BL – Ghana School of Law, Accra, Ghana
Bachelor of Laws – University of Ghana School of Law, Accra, Ghana
BSc (Agricultural Science)- Kwame Nkrumah University of Science and Technology, Kumasi, Ghana
MEMBERSHIP OF PROFESSIONAL ORGANISATIONS
Ghana Bar Association
Programme for Africa Leadership
Criminal Justice Reforms.
Ghana: Petrol Prices Drop Marginally
Oil marketing companies in the Republic of Ghana have reviewed the price of petrol with a litre selling between Gh¢14.35 and Gh¢14.82.
During the first pricing window of November which was from 1st to 15th, major oil companies sold a litre of petrol between Gh¢13.99 and Gh¢14.99.
Diesel was sold between ¢14.99 and ¢15.50 per litre.
However, as of Tuesday, November 19, GOIL PLC and Shell were the only OMCs that had revised their pump prices downward.
GOIL is selling Super XP(Ron 91) at Gh¢ 14.35 and Super XP (Ron 95) while diesel is sold at GH¢ 15.34 per litre.
Shell is also selling petrol at Gh¢14.87 per litre while diesel is sold at Gh¢14.92 per litre.
Other OMCs are likely to review their pump prices within the week.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
As of the close of business, Tuesday, average interbank rates for a US dollar was Gh¢15.9120(buying) and Gh¢15.9280(selling).
Source: https://energynewsafrica.com




Source: https://energynewsafrica.com