Ghana: Three Ghanaian Firms Receive Licences To Explore Oil In Voltaian And Tano Basins
Ghana has issued four exploratory licences to three indigenous oil and gas firms to undertake exploration activities in the onshore Tano and Voltaian basins.
The licences were issued in May and July this year, with one of the companies receiving two for exploration in both onshore Tano and Voltaian basins.
Officials of Ghana’s Ministry of Energy disclosed this at the just-ended Africa Oil Week in Cape Town, South Africa, without further details.
This portal understands that if discoveries are made, the companies will be granted appraisal licences to appraise the discoveries.
If the discoveries are commercial, development and production agreements will be signed with the companies for the development and production of the hydrocarbons.
Currently, the West African nation produces oil from three fields, namely Jubilee, OCTP Sankofa Gye-Nyame and Tweneboa Enyenra Ntomme (TEN).
Source: https://energynewsafrica.com
Nigeria To Review Gasoline Transport Safety Protocols After Deadly Blast
Nigeria has announced plans to review safety protocols for the transportation of gasoline after a deadly tanker accident and explosion in Jigawa state killed more than 150 people last Wednesday.
President Bola Tinubu said the review will be “swift and comprehensive,” but some observers are skeptical that safety standards will improve.
The tanker crashed in the village of Majiya and a short time later burst into flames, killing and injuring many who had gathered around the wreckage to scoop up spilled fuel.
Tinubu said a review of transport protocols for gasoline will be carried out in partnership with various state authorities and that offenders of the new regulations will be punished.
It is not clear what the new regulations will be. The president also sent top government officials including his defense and transportation ministers, along with food aid and medical supplies, to the site of Wednesday’s crash.
Economic analyst Eze Onyekpere said he doesn’t expect any new measures from authorities.
“It is a very unfortunate situation and position because the leadership of the country has not been proactive about planning for transporting of whether it’s crude oil or refined petroleum,” Onyekpere said.
“The government is not known to think through issues, they just latch on when there’s a public outburst.”
The accident in Jigawa comes barely one month after another tanker exploded after it collided with a truck in Niger state, killing 48 people.
Tinubu has ordered the Federal Road Safety Corps, or FRSC, to strengthen enforcement of already existing road transport protocols, including regulations on night travels and official patrols.
Energy expert Chukudi Victor Odoeme said the new measures are welcome, but is skeptical about compliance.
“The federal government thinking at this point that it’s the time to put policies in place is a good one, but the only snag I see in this is compliance,” he said.
“It has to do with enforcement, it’s not actually about the laws. Load limits have always been there, but it has never been enforced. They have to do a lot of enforcement, I don’t think it’s in creating new policies.”
Nigeria’s 5,000 kilometers (3,100 miles) of oil pipelines are often prone to vandalism, and petrol suppliers mostly rely on tankers to transport fuel around the country. But due to poorly maintained roads and disregard for existing road measures, tanker accidents are common. Onyekpere said the government needs to repair and protect the pipelines.
“If those pipelines were secured and maintained, that would have been the cheapest and easiest way of transporting these things in such a manner that would not expose Nigerians to a lot of risk,” Onyekpere said.
In 2020, more than 500 people died from about 1,500 tanker accidents, according to the FRSC.
Source: https://energynewsafrica.com
Ghana: Former AOMC CEO Kwaku Agyemang-Duah To Be Buried Tomorrow
The former Chief Executive Officer of the Association of Oil Marketing Companies (AOMC) and Industry Co-ordinator, the late Kwaku Agyemang-Duah, will be laid to rest tomorrow, Saturday, October 19, 2024.
Mr Agyemang-Duah passed on in August this year after a short illness.
He death was a shock to several industry players in the petroleum downstream considering his worth of experience in the oil industry.
He will be laid-in-sate at the St. John the Evangelist Catholic Church, Adenta, in Accra, between 5 am and 8:45 am.
This will be followed by burial mass at the same venue from 9 am to 11 am.
The bereaved family will later in the day inter the mortal remains of the late Kwaku Agyemang-Duah at a private cemetery, Garden of Peace, at the Lashibi Funeral Home in West Tema.
Source: https://energynewsafrica.com
Ghana: Fuel Prices Shoot Up…Petrol Sells At GH¢14.50, Diesel GH¢14.95 Per Litre
Oil Marketing Companies in the Republic of Ghana have adjusted their pump prices for both petrol and diesel for the second pricing window of October, which runs from the 16th to the 31st of October 2024.
Some have adjusted petrol price by between Gh¢1 and 50 pesewas while diesel saw between Gh¢1 and 60 upward adjustment.
This follows the continuous depreciation of the local currency, the cedi, against major international currencies, especially the United States dollar, and the rising cost of refined petroleum products on the international market.
A litre of petrol sells between Gh¢13.99 and Gh¢14.58 per litre, while diesel sells between Gh¢14.15 and Gh¢14.95 per litre.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
Currently, a US dollar is being exchanged for more than Gh¢16.
Currently, GOIL is selling petrol (Ron 91) at Gh¢14.49 per litre while petrol (Ron 95) is sold at Gh¢15.49, with diesel being sold at Gh¢14.90 per litre.
Shell is selling petrol at Gh¢14.58 per litre while diesel is sold at Gh¢14.95 per litre.
TotalEnergies is selling petrol at Gh¢14.50 while diesel is sold at Gh¢14.80 per litre.
Star Oil is selling petrol at Gh¢13.99 per litre while diesel is sold at Gh¢14.15 per litre.
Petrosol Ghana is selling petrol at Gh¢14.39 while diesel is sold at Gh¢14.69 per litre.
Zen Petroleum is selling petrol at Gh¢13.65 per litre while diesel is sold at Gh¢14.04 per litre.
Lucky Oil is selling petrol at Gh¢12.38 per litre while diesel is sold at Gh¢13.98 per litre.
Allied is selling petrol at Gh¢12.73 while diesel is sold at Gh¢13.73 per litre.
Pacific is selling petrol at Gh¢14.39 per litre while diesel is sold at Gh¢14.79 per litre.
Engen Ghana is selling petrol at Gh¢14.40 while diesel is sold at Gh¢14.80 per litre.
Benab is selling petrol at Gh¢13.99 while diesel is sold at Gh¢13.99 per litre.
Frimps is selling petrol at Gh¢14.06 while diesel is sold at Gh¢14.26 per litre.
Source: https://energynewsafrica.com
Tanzania: Gov’t Commits To Universal Electricity Access In Africa By 2030
Tanzania’s Deputy Prime Minister and Minister for Energy, Dr. Doto Biteko has assured that Tanzania is fully committed to supporting the realisation of universal electricity access in Africa by 2030.
Briefing journalists on the side-line of the 9th Africa Energy Market Place meeting in Dar es Salaam, Dr Biteko said the country will leverage on its excess power generation to complement neighbouring countries’ demand.
The government assurance echoes its on-going implementation of different major electricity projects including the Julius Nyerere Hydro Power Project (JNHPP), which upon completion will add 2115 Megawatts to the National Grid, significantly making the country attain energy self-sufficiency.
The 9th Africa Energy Market Place meeting which is co-organised by the government through the Ministry of Energy and the African Development Bank (AfDB) intends to boost the country’s effort to clean cooking and electricity access countrywide.
Dr Biteko said the meeting is part of the country’s preparation towards hosting the forthcoming Africa Heads of State Energy Compact Summit which will be held in the country in January, 2025 with the objective of raising about 190 billion US dollar (about 517.498tri/-) to provide electricity to 300 million people in the continent by 2030.
He said Tanzania has been picked by the AfDB to host the two-day 9th Africa Energy Market Place and the upcoming Africa Heads of State Energy Compact Summit due to the sixth-phase government’s strategy to rapidly extend electricity access to rural and peri-urban areas.
As a result, he said Tanzania offers best practice to other African countries when it comes to rural electrification by considering the fact that currently almost all villages are connected with electricity.
“The country stands as the role model when it comes to rural electrification in the continent. As we embark on ensuring 300 million people in Africa have access to power by 2030, Tanzania is at the driving seat of transformation by ensuring first it gets connected with neighbouring countries’ electricity infrastructure,” he said.
To advance universal electricity access in the continent, he said the country has been entering into partnership with neighbouring countries including Rwanda, Burundi, Uganda and Zambia to facilitate supply of electricity to them.
In another development, he said the government’s implementation of the National Clean Cooking Energy Strategy is on track with 400,000 subsidised gas cylinders set aside to be distributed across the country.
Under the National Clean Cooking Energy Strategy, the country targets to ensure 80 per cent of households use clean cooking energy by 2034 from the current approximately 10 per cent.
The clean cooking initiative also seeks to prevent deforestation thereby cutting carbon emission and conserving the environment by switching to eco-friendly cooking energy including gases and electricity. Dr Biteko requested the AfDB to support financially the Tanzania efforts to achieve its ambitious energy strategy.
For his part, the AfDB’s Vice-President of Energy, Power, Climate Change and Green Growth, Dr Kevin Kariuki assured Tanzania of the continental financial body’s back up to realise transition to clean cooking targets.
Dr Kariuki stated that the AfDB has selected Tanzania to host two energy events as a recognition of its ongoing efforts to modernise energy use, which positively impact not only the nation but the entire continent.
Earlier, during the panel discussion at the 9th Africa Energy Marketplace, the Permanent Secretary for the Ministry of Energy, Eng Felchesmi Mramba asked participants to share experiences, explore opportunities and forge partnerships that aim at simplifying the affordability and availability of clean cooking technologies in the country.
Source: https://energynewsafrica.com
Ghana: BOST Receives Continental Awards In Eswatini
Ghana’s Bulk Energy Storage and Transportation Company Limited (BOST) and its Managing Director, Dr Edwin Alfred Provencal, have been honoured at the prestigious 5th edition of the Africa Public Sector Conference and Awards (APSCA) 2024, held in Gaborone, Botswana (Eswatini).
The awards ceremony, aimed at recognising excellence in public service, saw BOST celebrated as one of Africa’s ‘Top 50 Innovative Public Sector Agencies’ in acknowledgement of its outstanding innovation and impact in delivering public services.
In addition to BOST’s recognition, the Managing Director, Dr Edwin Alfred Provencal, was bestowed with the esteemed title of ‘Transformational CEO of the Year’ for his steadfast commitment to driving positive change and innovation in the public sector.
Commenting on the awards, the Managing Director of BEST, Dr Edwin Alfred Nii Obodai Provencal, said, “This award spurs us on to do more for our dear nation. I’m aware that private sector’s pace of growth depends on the efficiency of government business, and looking at what we have achieved within 4-5 years, we are happy to be contributing both directly and indirectly to the fiscal regime in Ghana by powering the energy needs of the country.
“Personally, this award goes a long way to signal to me that YES, it is possible to do this across all the SOEs,” he stated.
Source: https://energynewsafrica.com
Nigeria: Fuel Tanker Explosion Kills More Than 150 People, Injures Dozens
More than 150 people have been killed and dozens of others wounded after an overturned fuel tanker exploded in northwestern Nigeria, authorities said.
The crash on Tuesday night took place on an expressway in Jigawa state.
People then rushed to the vehicle to collect the fuel, police spokesman Lawan Shiisu Adam said on Wednesday
“The residents were scooping up fuel from the overturned tanker when the explosion occurred, sparking a massive inferno,” he told The Associated Press News Agency.
Officials said on Thursday that the death toll had risen to 153, as mass funerals were being held.
Videos that appeared to be from the scene showed a massive fire stretching across the entire area, with what appeared to be bodies littered at the scene. The blaze burned into the early hours of Wednesday.
The tanker, which had travelled about 110km (68 miles) from neighbouring Kano state, veered to avoid colliding with a truck in the town of Majia, according to police.
“The tanker crashed while conveying products to the northern parts of Nigeria. It was driving along a major highway when it spilled its contents,” said Al Jazeera’s Fidelis Mbah, reporting from Sokoto.
“Most of the villages around there, the residents, rushed to the scene to try and scoop up the fuel – either for domestic or commercial purposes. And in the process, within minutes, the tanker exploded killing dozens of them right there at the spot,” he said, adding that authorities fear the death toll may increase.
At least 50 wounded people were taken to local hospitals in Ringim and Hadejia towns where they were being treated, police and emergency workers said.
The Nigerian Medical Association urged doctors to rush to nearby emergency rooms to help with the influx of patients, while Nigerian lawmakers observed a minute’s silence in the Senate.
In a statement on Wednesday, Nigerian Vice President Kashim Shettima called for a safety review and said the federal government was sending resources to support those affected.
Deadly truck accidents are common along most of the main roads in Nigeria, with experts attributing many of them to reckless driving, poor road conditions and ill-maintained vehicles.
Source: https://energynewsafrica.com
UK Strikes At The Heart Of Russian Energy Revenues Funding Putin’s War
The UK has today unleashed the largest package of sanctions to date against Putin’s shadow fleet of oil tankers.18 more shadow fleet ships will be barred from UK ports and unable to access world-leading British maritime services, bringing the total number of oil tankers sanctioned to 43.
The shadow fleet seeks to undermine sanctions and poses a clear and present danger. Environmental risks, such as oil spills, on our coastlines as a result of its flagrant violation of basic safety standards, but also risks to the security of global trade – the lifeblood of economic growth.
At the European Political Community Summit in July, the Prime Minister announced the shadow fleet call to action.
Today the US and Canada have joined 44 European countries plus the EU in working together to tackle the risks posed by the shadow fleet.
The UK’s relentless action against the shadow fleet is putting grit into the system and starving Putin’s war machine of crucial revenues.
The oil tankers targeted today have transported an estimated $4.9 billion in the last year alone. A significant number of the ships targeted by the UK to date have been forced to sit idling uselessly outside ports across the world, unable to continue pouring money into Putin’s war chest.
Sovcomflot, Russia’s largest shipping company has been left desperately scrambling to rename and offload its vessels to dodge UK sanctions.
Today we have targeted even more of its ships, further turning the screw on the mechanisms the Kremlin uses to fund its illegal war.
Alongside action against the shadow fleet, the UK is sanctioning 4 more LNG tankers and Russian gas company Rusgazdobycha JSC.
We are continuing to ratchet up pressure on the beleaguered Russian gas industry, with flagship company Gazprom posting a significant net loss of $6.9 billion in 2023 – its first annual loss in more than 20 years.
Foreign Secretary, David Lammy said:
We must combat malign Russian activity at every turn, whether illicit tactics to bolster Putin’s war chest, their use of cyber-attacks or barbarism on the front line in Ukraine.
The UK is leading the charge against Putin’s desperate and dangerous attempts to cling on to his energy revenues, with his shadow fleet placing coastlines across Europe and the world in jeopardy.
I have made it my personal mission to constrain the Kremlin, closing the net around Putin and his mafia state using every tool at my disposal.
This new shadow fleet package comes in the weeks following recent UK actions to sanction both Russian cyber-crime gang Evil Corp, and Russian troops found to be using chemical weapons on the front lines in Ukraine.
It represents the latest in a drumbeat of activity, with each package designed to target a distinct aspect of Russia’s malign behavior and reinforce the UK’s commitment to global security and the rule of law.
Source: Government of the UK Agency
Ghana: NDC Will Scrap Gold-For-Oil Programme If It Wins December 7 Polls…says Jinapor
The opposition National Democratic Congress (NDC) has assured players in the country’s downstream petroleum industry that it will cancel the Gold-For-Oil Programme (G4O) introduced by the Akufo-Addo administration if it wins the December 7 polls.
Spokespersons for NDC’s manifesto on energy, Hon. Emmanuel Armah- Kofi Buah and Hon. John Abdulai Jinapor said this at the Energy Policy Town Hall engagement organised by the Chamber of Bulk Oil Distributors (CBOD) on Wednesday, October 16, in Accra, the capital of Ghana.
According to them, the government claimed at the time that the policy would help to stem the depreciation of the local currency, cedi, against the dollar and also stem rising fuel prices.
The duo said the programme has been a failure since fuel prices are still higher and the cedi continues to depreciate against its major trading forex, the US dollar.
“They said about Gold -For-Oil is that it’s going to bring about stability of the prices and arrest the falling of the Cedi. The Cedi has since been falling and fuel prices are going up, Jinapor said.
“The key benchmarks for Gulf Oil has been a complete failure,” he concluded
Source: https://energynewsafrica.com
Ghana: Largest IPP Sunon Asogli Shut Down 560MW Plant Over US$259 Million Debt
Ghana’s largest Independent Power Producer (IPP), Sunon Asogli Power Ghana Limited, has shut down its 560MW combined circled power plant located in Kpone near Tema over US$259 million debt owed it by the Electricity Company of Ghana (ECG).
An official of the company told this portal that Sunon Asogli was left with no other option than to shut down because all diplomatic efforts to get the debt settled had been unsuccessful.
The company shut down on October 8 but sources say almost a week now, there is no attempt by the government to meet with Asogli to resolve the issue.
Meanwhile, in a statement issued and signed by Qun Yang, Chairman of Sunon Asogli Power Plant, it said it was unable to fund its operations because of ECG’s failure to pay debt owed them.
Despite Sunon Asogli’s decision not to invoice ECG for idle capacity, the debt owed has increased by 23 per cent between January and September 2024, with only 22.6 per cent of the invoices for that period settled through the Cash Waterfall Mechanism.
“Sunon Asogli Power (Ghana) has over the years been very considerate in its dealings with ECG and the government, and, unlike other independent power producers, has not even invoiced ECG for accrued idle capacity charges.
“Despite this, ECG owes Sunon Asogli a net (excluding fuel) receivable amount of US$259 million as of the end of September 2024.
“Our debt has grown by 23% on the net balance, between January 2024 and September 2024 and only 22.6% of the invoices for the period have been paid by ECG from the Cash Waterfall Mechanism,” he stated.
Sunon Asogli expressed deep regret over the impact of the shutdown on the national power supply but emphasised that it had no alternative.
The company further called on the Ministry of Finance to intervene and facilitate a resolution that would allow it to resume operations as soon as possible.
Source: https://energynewsafrica.com
Venezuela: Oil Terminal Fire Outbreak Leaves 21 Injured
A fire at an oil tank in Venezuela has left 21 people injured, including firefighters, terminal workers and residents, Reuters reported.
The fire broke out on Tuesday after a storm and burned late into the night, the report said.
The location was the La Salinas oil terminal, a property of state-owned PDVSA, which the company uses to transport crude oil between local ports. There were 75,000 barrels of oil at the facility when the fire broke out.
“Many people were exposed to high temperatures. We have counted 21 injured so far, all of them with minor lesions,” a local fire brigade chief told Reuters, adding that the number of the injured could rise.
Venezuela’s oil industry has been battered by U.S. sanctions and years of underinvestment but has survived and production recently even increased, as the U.S. allowed some companies to return to the country and resume operations with PDVSA amid a shortage of heavy crude following the imposition of sanctions on Russian oil.
Despite these moves by the U.S., Washington remains at odds with Venezuela’s leadership and there is little chance that sanctions would be lifted anytime soon, especially after Nicolas Maduro won yet another term in office in elections that the Venezuelan opposition said were manipulated.
Meanwhile, Venezuela’s oil production is growing steadily. This year, average daily production has gone up from about 750,000 bpd to over 800,000 bpd, with the quarterly average rising from 816,000 bpd in the first quarter to 838,000 bpd in the second quarter and 871,000 bpd in the third quarter, according to the latest secondary-source data from OPEC.
According to Venezuelan state sources, production is even higher, exceeding 900,000 bpd earlier in the year.
This is a far cry from Venezuela’s oil production in the past: in 2000, the country pumped some 3.2 million barrels daily.
Source: https://energynewsafrica.com
South Africa: AEC Chairman NJ Ayuk Calls For Women Inclusion In The Energy Sector
The Executive Chairman of African Energy Chamber NJ Ayuk, has called for the inclusion of women in the working mechanism in the energy sector.
In the same breadth, the chairman has praised the African Association of Energy Journalists and Publishers (AJERAP), referring to its members as “African truth seekers and freedom fighters.”
His remarks were made during a recent One-on-One engagement webinar, held on Wednesday and co-hosted by media consultant Camara Sanna, based in The Gambia, and Allen Atwiine, Managing Partner at Surprise Africa.
Ayuk commended AJERAP, which has members across all 54 African countries, for its significant contributions to the energy sector.
He emphasized that their work has been instrumental in driving growth and development across the continent, even though it is often underreported and unrepresented.
“You are the true voice of our continent, speaking truth to power even when it’s inconvenient,” Ayuk stated, acknowledging the vital role of the media in raising critical issues such as energy poverty and climate justice.
Highlighting the purpose behind the African Energy Chamber’s formation, Ayuk explained that it was created to advocate for African businesses in the energy sector.
He noted that, historically, international companies dominated the industry, while African stakeholders were sidelined.
Instead of resorting to protests, the Chamber focused on lobbying and collaborating with governments to create policies that fostered greater involvement of African businesses and professionals in the sector.
Ayuk also underscored the need for gender inclusion, calling attention to the fact that women are often the “last hired and the first fired” in the energy sector, a practice he strongly condemned.
He advocated for policies that would create a more enabling environment for women, positioning them as key contributors to progress in Africa’s energy industry.
In addition to promoting gender equality, Ayuk emphasized the importance of youth engagement in the energy sector.
He highlighted the African Energy Week as a platform dedicated to the development of Africa’s energy, oil, and gas industries.
The Chamber, according to him, is actively working with energy companies across the continent to create job opportunities and offer training programs aimed at building capacity among Africa’s youth.
Furthermore, Ayuk spoke about the Chamber’s efforts to combat corruption and reduce bureaucratic hurdles in the energy sectors of African countries.
He stressed the importance of fostering a business-friendly environment that attracts international investment, with a focus on building relationships with countries like Russia, the UAE, and China, to boost Africa’s energy sector.
In conclusion, Ayuk urged stakeholders, including governments and investors, to increase their efforts in combating energy poverty across the continent.
He reaffirmed the Chamber’s commitment to unlocking Africa’s potential in the energy sector by advocating for inclusive policies and fostering international partnerships.
NJ Ayuk, Chairman of the African Energy Chamber, highlighted the signing of approximately USD 26 billion in deals during previous editions of the African Energy Week.
He underscored the significance of projects like the East African Crude Oil Pipeline (EACOP) for Uganda and Africa as a whole, noting their potential to contribute to the continent’s energy sector development.
Ayuk emphasized East Africa’s position as a key hub for energy project development, with countries such as Senegal and Namibia also presenting vast investment opportunities.
He expressed concerns over the global energy transition agenda, viewing it as a potential threat to Africa’s energy prosperity.
Despite Africa’s minimal contribution to climate change—less than 3%—Ayuk advocated for climate justice, urging that Africa be allowed to leverage its oil and gas resources to alleviate energy poverty and promote development.
He noted that while financing constraints in Africa’s oil and gas industry pose challenges, they also present an opportunity for Africans to invest in their resources.
Ayuk called for an enabling environment, driven by sound government policies, to attract both local and international investors to the African energy sector.
He described African Energy Week as more than an event—calling it an African movement that showcases the continent’s immense energy opportunities to the global energy sector and investors.
He emphasized that the platform provides a space for all industry players, including women and youth, to participate in and contribute to Africa’s energy growth.
He revealed that the upcoming African Energy Week is expected to attract 10,000 participants from around the world and will focus on pressing issues such as climate change, renewable energy, and more.
In addition, Ayuk stressed the importance of Africa’s industrialization, stating that the continent must harness its abundant oil and gas resources for its development.
In a related development, the African Association of Energy Journalists and Publishers (AJERAP) paid tribute to Uganda as the nation marked its 62nd independence anniversary.
AJERAP, committed to promoting accurate reporting on energy, sustainability, and environmental issues from an African perspective, praised Uganda’s progress in the energy sector and its contributions to the continent’s development.
Source: https://energynewsafrica.com
Ghana: Next NPP Gov’t Will Provide Cheap, Reliable Power If Bawumia Wins December Polls—Agyapa Mercer
The governing New Patriotic Party (NPP) is assuring the West African nation’s voting population that it will offer them reliable and cheap power if its flag-bearer, Dr Mahamudu Bawumia, wins the December 7th polls and form the next government.
The NPP made this promise when the party featured at the Ghana Chamber of Bulk Oil Distributors (CBOD) platform to highlight the party’s energy policy to industrial players at the University of Professional Studies Auditorium in Accra.
This was in a response to how the party intends to ensure energy reliability and affordability if they win power in December this year.
Agayapa Mercer explained that this policy is intended to alleviate the high fuel cost Ghanaians are bearing.
According to him, the policy is to oil Ghana’s manufacturing and industrial base for both local and international operators to remain competitive in their businesses.
Through this new energy policy, he stressed that the NPP wants to create a thriving energy atmosphere which inspires and generates supreme confidence in the industrial and household consumption of power.
One of strategies of the policy pointed out by the Mercer, who is a Member of Parliament for Sekondi, is that the party would procure 2000MW of solar power, which is half of the 4000MW of power.
To make this policy workable, he promised that the party would work closely with the private sector to improve the power, metering, billing and service delivery system across the nation.
Mr. Agyapa Mercer emphasised that the policy also seeks to incentivise the private sector with petroleum and petrochemicals in the value chain.
Commenting on how to improve the efficiency of the National Petroleum Authority (NPA) in the new policy, he observed that it would strengthen its capacity to develop strong relations to promote an export-oriented petroleum hub in the West African sub-region and also ensure best practices in the energy regulatory sector.
“We would encourage internal oil companies to collaborate with local universities on research and development for upstream exploration activities,” said Egyapa Mercer.
Touching on the financial sustainability of fuel supply chain in the down stream market,
Agyapa Mercer, who is also a lawyer, said the party hopes to foster collaboration with the private sector to ensure success and reliability in the energy sector from 2025.
Source: https://energynewsafrica.com
Egypt And Greece Strengthen Energy Ties With New Natural Gas Partnership
The Egyptian Natural Gas Holding Company (EGAS) and Copelouzos Group have established a joint venture in Greece for trading, supplying, transporting and regasifying natural gas to Eastern Europe.
This agreement comes within the frame of expanding the plan of Egypt to boost its role as regional energy hub especially in liquified natural gas (LNG).
The agreement which was signed by Yassin Mohamed, the Chairman of EGAS, and Panos Moshandro, Business Development Manager at Copelouzos Group.
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi, Dimitris Copelouzos, Chairman of Copelouzos Group; Ioannis Karides, CEO of Copelouzos Group for Renewable Energy, Energy Storage, and Interconnection; and Moataz Atef, Undersecretary of the Ministry for the Technical Office and official spokesperson of the ministry witnessed the signing of the agreement.
During his reception to the delegation, Badawi highlighted the depth and strength of Egyptian-Greek relations and that the agreement is the beginning of opportunities to expand cooperation in the future, pointing to the possibility of exchanging expertise and capabilities between the petroleum sector and Copelouzos Group especially in supplying energy needs for the two countries.
For his part, Copelouzos stressed his appreciation for the important role played by Egypt in the region and the great potential it possesses, which makes it an attractive investment destination, especially for international oil companies, highlighting the Greek group’s desire to benefit from the potentials that the Egyptian petroleum sector have, especially the Damietta and Idku gas liquefaction plants.
He also expressed his optimism about deepening the partnership with the Egyptian petroleum sector and with the Egyptian government in more future projects.
The Chairman of EGAS also confirmed that this agreement has been thoroughly studied and developed over the past period, marking a significant starting point for strengthening the partnership between the two parties in the future.
Source: https://energynewsafrica.com


