Tullow Oil Considers Selling Non-Core Assets To Repay Bonds
Tullow Oil Plc said it will consider selling non-core assets while it plans to repay bonds maturing soon with a mix of cash and available credit lines.
The Africa-focused producer has $493 million of bonds that come due on March 1, according to data compiled by Bloomberg. Part of the money to meet the obligations will come by drawing down a facility provided by Glencore Plc, the firm said in a trading statement on Thursday. It plans to “refinance and simplify” the remainder of its debt pile later this year.
The 2025 notes gained 3.5 cents on the dollar to 99.1 cents, according to data compiled by Bloomberg. Shares fell 1.6% in London at 9:56 a.m., adding to a drop of about 40% over the past 12 months.
Tullow borrowed billions of dollars during its free-spending days as a wildcatter searching for new oil basins. Chief Executive Officer Rahul Dhir refocused the business on its legacy assets in West Africa and improved its finances, reducing net debt to $1.45 billion since taking over in 2020.
Tullow also said it will consider disposing of non-core assets to help bring its debt below $1 billion. Sales would further reduce the scope of Tullow’s operations, after the company previously curbed exploration activity.
“Disposals will only be considered where the level of proceeds would be accretive to both equity and leverage,” the company said in the trading statement.
Tullow is facing changes at its helm, with the board looking for a new CEO after Dhir announced in December he would step down from the role.
The producer expects working interest production to average 50,000 to 55,000 barrels of oil equivalent per day in 2025. The firm also aim to identify future well locations at its Ghana fields.
Source: Worldoil.com
South Africa: Nersa Approves 12.7% Tariff For Eskom; Lower Than Expected
The National Energy Regulator of South Africa (Nersa) has approved electricity tariff adjustments for Eskom, the country’s national power utility, for the next three years.
For the 2025/26 financial year, Nersa approved a tariff increase of 12.7%, significantly lower than Eskom’s requested 36% hike.
The regulator also approved increases of 5.3% and 6% for the 2026/27 and 2027/28 financial years, respectively.
These increases are lower than Eskom’s expectations of 11% and 9% for the corresponding years.
The Ministry of Electricity and Energy welcomed the announcement, acknowledging that the lower-than-expected tariffs may pressure Eskom to optimize its investment strategy.
The Ministry has pledged to collaborate with Eskom to drive greater efficiencies and strengthen the utility’s infrastructure.
It’s worth noting that Eskom had previously stated that the Nersa-approved tariff increases for 2024 and 2025, combined with debt relief announced by the Minister of Finance, had improved the utility’s financial position.
Source: https://energynewsafrica.com
Ghana: Gov’t Will Prioritize Solar, Wind And Mini-Hydro For Energy Growth -Jinapor
Ghana has announced plans to transition from thermal-based plants to renewable energy sources, focusing on solar, wind, and mini-hydro projects to meet its growing energy demands.
According to Minister of Energy John Jinapor, this strategic move aims to reduce the country’s reliance on non-renewable energy and achieve long-term energy sustainability through a diversified energy mix.
The minister emphasized that Ghana’s energy transition plan is driven by the need to power its growing economy and ensure sustainable development.
By leveraging solar, wind, and mini-hydro resources, Ghana can reduce its carbon footprint, improve energy access, and drive industrialization, particularly within the African Continental Free Trade Area (AfCFTA) framework.
Ghana’s abundant renewable energy resources make it an ideal location for harnessing solar, wind, and mini-hydro power.
The country’s vast coastline offers favorable conditions for wind energy, while its several rivers are conducive to mini-hydro power generation.
At the Africa Prosperity Dialogue 2025 in Accra, Energy Minister John Jinapor stressed the importance of reliable, affordable, and sustainable energy for economic growth across the continent.
“The government remains committed to advancing green energy solutions, positioning the country as a leader in the region’s energy transition.”
The governing National Democratic Congress (NDC) in its Manifesto for the 2024 General Election promised to implement an energy transition strategy that will augment thermal and hydro power production with nuclear and other renewable energy sources, such as solar, wind, biogas, waste-to-energy, and other off-grid energy systems, like mini-hydropower production, and eliminate power wastage through public education and revised building codes.
Source: https://energynewsafrica.com
Ghana: Acting NPA Boss Kicks Off Stakeholder Engagement
Ghana’s National Petroleum Authority (NPA) Acting Chief Executive, Mr. Godwin Kudzo Tameklo, hit the ground running by engaging with key stakeholders in the petroleum downstream sector.
His first meeting was on Thursday with the Bulk Road Vehicle Owners Union (Tanker Owners Union), led by Executive Secretary Mr. Ignatius Koku Doe.
The discussions at the meeting centered around collaborative efforts to ensure a seamless operation of the sector.
Mr. Tameklo conveyed President John Dramani Mahama’s vision for a robust and efficient industry, receiving a warm welcome into his new role.
The association expressed its commitment to working together for the benefit of the industry and all its stakeholders.
Mr. Tameklo also met with the Executives of the Tanker Drivers Union, led by National Chairman Mr. George Nyaunu.
He acknowledged the vital role of tanker drivers in the petroleum downstream sector and assured the union’s leadership that addressing their welfare challenges would be a top priority.
Mr Tameklo was appointed by President John Dramani Mahama and he assumed post earlier this week.
Source: https://energynewsafrica.com
Mr. Tameklo also met with the Executives of the Tanker Drivers Union, led by National Chairman Mr. George Nyaunu.
He acknowledged the vital role of tanker drivers in the petroleum downstream sector and assured the union’s leadership that addressing their welfare challenges would be a top priority.
Mr Tameklo was appointed by President John Dramani Mahama and he assumed post earlier this week.
Source: https://energynewsafrica.com Ghana: WAPCo Gears Up For Offshore Cleaning And Inspection
The West African Gas Pipeline Company Limited (WAPCo), owner and operator of the West African Gas Pipeline (WAGP), is preparing for the cleaning and inspection of the offshore segment of its pipeline from Nigeria to Ghana.
The cleaning of the 569km stretch of pipeline from WAPCo’s compressor station located at Badagry, Lagos State, Nigeria, to its regulating and metering station located at Aboadze, near Takoradi, Western Region, Ghana, is scheduled to begin on February 5, 2025.
WAPCo had initially planned to commence the second phase of the cleaning exercise in January 2025, after completing the first phase in December 2024.
However, the exercise was rescheduled to February 2025 to enable the new administration to make arrangements and procure adequate liquid fuels, notably Heavy Fuel Oil (HFO) and Light Crude Oil (LCO), to power the thermal plants in both western and eastern power enclaves, as the exercise will result in a curtailment of gas supply.
The exercise is expected to last for 28 days.
During the cleaning and inspection exercise, WAPCo will replace subsea valves and undertake other related maintenance activities.
Ahead of this exercise, the WAPCo team is engaging with critical stakeholders and contractors involved in the project to ensure a safe and successful program execution.
Pre-mobilization teams are currently assembled at the two WAPCo locations in Nigeria and Ghana to ensure all is set up for critical equipment.
An effluent management system is also being installed at the company’s facility in Takoradi, where WAPCo expects to receive some effluent from the cleaning of the offshore pipeline.
Afolabi Oladimeji Ogunmefun, WAPCo’s Deputy Manager, Asset Integrity, and team lead for the cleaning and inspection project, is upbeat about the team’s preparedness for this maintenance activity.
“The team is ready and looking forward to undertaking this key pipeline integrity management program to manage our pipeline and confirm its integrity.”
WAPCo is committed to maintaining proactive stakeholder engagement processes established during the project’s preparation phase during execution.
“The company will continue to engage with relevant stakeholders on all matters to ensure the project’s safe execution and success,” says Auwal Ibrahim, WAPCo’s General Manager Operations & Maintenance.
Source: https://energynewsafrica.com
Ghana: IES Celebrates Dr. Shafic, Prof. Klutse On Their Appointments
The Institute for Energy Security (IES) in Ghana is celebrating two major appointments of its board members to key positions in the country’s energy and environmental sectors.
Dr. Shafic Suleman, a board member at IES and Senior Lecturer at the Institute for Oil and Gas Studies at the University of Cape Coast in the Central Region, has been appointed as the Executive Secretary of the Public Utilities Regulatory Commission (PURC).
According to the energy think tank, Dr. Shafic’s appointment is a well-deserved recognition of his exceptional expertise and contributions to the energy sector, particularly in energy and petroleum economics, energy policy and law, sustainability, climate, and risk management.
“Your deep understanding of the complex dynamics of the energy sector and your commitment to sustainability are precisely what is needed to drive innovation, efficiency, and equity in the regulation of public utilities,” said Nafi Chinery, Board Chair of IES. “We have no doubt that your qualities will impact positively on your new role, where your leadership will be pivotal in ensuring the affordability, reliability, and sustainability of utility services for all Ghanaians.”
The IES also celebrated the appointment of Professor Nana Ama Klutse as the Acting Chief Executive Officer (CEO) of the Environmental Protection Agency (EPA).
The IES said her appointment is a testament to her remarkable achievements as a renowned physicist, academic leader, and advocate for climate resilience and environmental sustainability. With her wealth of experience in climate science, environmental policy, and sustainable development, she is poised to bring transformative leadership to the EPA.
The IES has congratulated both Professor Klutse and Dr. Suleman on their appointments, expressing confidence that their leadership will have a positive impact on Ghana’s energy and environmental sectors. With their expertise and dedication, they are expected to drive innovation, efficiency, and equity in their respective roles.
Source: https://energynewsafrica.com
Nigeria: Vandal Arrested for Damaging Ugwuaji-Makurdi 330kV Transmission Line Tower
A suspect was apprehended by members of Watuolo village, Utonkon in Ado local government area, Benue State, Nigeria, for vandalizing Tower T195 along the Ugwuaji-Makurdi 330kV transmission line.
The incident occurred on Saturday, January 25, 2025, according to the Transmission Company of Nigeria (TCN).
Community members noticed suspicious activity around the tower at about 3 am and promptly sprang into action, apprehending one of the vandals while the others escaped.
The suspect was subsequently handed over to the police.
The TCN commended the community’s swift action and vigilance, which prevented further damage to the transmission line.
The TCN appealed to other communities hosting critical infrastructure to emulate this example and take ownership of protecting transmission installations in their vicinity.
“TCN will continue to work with security operatives and host communities to prevent such incidents and ensure a stable power supply,” the statement concluded.
Source: https://energynewsafrica.com
The TCN commended the community’s swift action and vigilance, which prevented further damage to the transmission line.
The TCN appealed to other communities hosting critical infrastructure to emulate this example and take ownership of protecting transmission installations in their vicinity.
“TCN will continue to work with security operatives and host communities to prevent such incidents and ensure a stable power supply,” the statement concluded.
Source: https://energynewsafrica.com Angola And Namibia Strengthen Partnership On Oil Operations Center
Angola and Namibia are moving forward with their plans to develop a logistics operations center in Namibia, similar to the Sonangol Integrated Services Logistics Center (SONILS) in Angola.
The project is based on a Memorandum of Understanding (MoU) signed between the National Fuel Society of Angola (SONANGOL) and the National Petroleum and Ports Company of Namibia over a year ago.
Recently, Angolan Secretary of State for Oil and Gas, José Barroso, and Namibian Minister of Mines and Energy, Tom Alweendo, met in Luanda to analyze the MoU’s content.
The meeting was followed by a guided visit to the SONILS facilities, attended by the Namibian ambassador to Angola, Patrick Nandago.
According to Barroso, the visit aimed to evaluate the agreement and identify the benefits that the Angolan logistics center can offer Namibia.
He emphasized that the two ministries will increase their collaboration to make the project a reality.
Minister Alweendo highlighted the recent discovery of oil off Namibia’s coast as a key factor in the agreement.
He noted that the partnership with SONILS will enable the construction of an oil base in Namibia, driving growth and development in the region.
This partnership is part of a broader effort to enhance bilateral cooperation in the petroleum and natural gas sector between Angola and Namibia.
Source:https://energynewsafrica.com
Ghana: Invest In Tech To Revamp ECG And Ensure Sustainability(Article)
The Electricity Company of Ghana (ECG) faces significant technical and operational challenges, with system losses hovering around 20%.
The majority of these losses are technical, stemming from aged infrastructure and inadequate monitoring systems. This paper proposes targeted investments in modern technology to address these challenges.
The focus is on the replacement and renewal of ECG’s over-30-year-old backbone infrastructure and the integration of advanced technologies such as specialized drones equipped with GPS capabilities.
International case studies are highlighted to underscore how similar strategies have successfully transformed other power distribution companies.
Finally, the paper emphasizes the need for ECG to operate as a business-oriented, politically independent entity.
Efficient power distribution is crucial for economic development. ECG’s persistent operational inefficiencies, reflected in high system losses, threaten Ghana’s energy security and economic growth. Technical losses, primarily due to voltage leakage from aging infrastructure, and operational inefficiencies such as power theft exacerbate the problem. Addressing these challenges requires a two-fold approach: upgrading infrastructure and adopting advanced monitoring technology.
The Case for Investment in Technology
1. Upgrading ECG’s Backbone Infrastructure
Over 30% of ECG’s infrastructure is more than three decades old. Voltage leakage through aging transformers, substation equipment, and power lines results in substantial technical losses. A phased infrastructure renewal program, focused on replacing outdated equipment with energy-efficient alternatives, could significantly reduce these losses.
Key Benefits:
- Reduced Voltage Leakage: Modern transformers and insulated power lines minimize energy dissipation.
- Enhanced Capacity: New infrastructure can support increased demand, reducing the risk of overloading and unplanned outages.
- Lower Maintenance Costs: Replacing aging assets with new technology reduces frequent repair costs.
- Real-Time Monitoring: Enables faster identification and resolution of faults.
- Reduction in Power Theft: Drones can quickly detect illegal connections, particularly in industrial areas with high consumption.
- Cost-Effectiveness: Reduces the need for manual inspections, saving time and resources.
- Decentralization: Empower regional branches with operational and financial autonomy.
- Corporate Governance: Appoint a professional board of directors with clear Key Performance Indicators (KPIs).
- Performance-Based Contracts: Link staff remuneration and promotions to performance metrics.
- Independent Regulation: Strengthen regulatory oversight to ensure transparency and accountability.
South Africa: Eskom, PwC Settle Long-Running Legal Dispute
South Africa’s power utility company, Eskom, and PricewaterhouseCoopers (PwC) have reached a settlement agreement, bringing an end to a high court case initiated by Eskom in 2021.
The case centered on a cost reduction contract known as the “Capital Scrubbing engagement” and sought to recover payments made to PwC and Nkonki.
Under the terms of the settlement, the disputed contract has been set aside, and PwC will pay Eskom R43 million in a full and final settlement of Eskom’s claim.
This agreement marks a significant milestone in Eskom’s efforts to enhance governance and accountability.
Eskom Group Chief Executive, Dan Marokane, emphasized the importance of this outcome, stating that management’s commitment to addressing cases arising from the Zondo Commission’s findings has been instrumental in achieving this result.
Looking ahead, Eskom will continue to focus on implementing generation recovery, strengthening governance, and tackling crime and corruption while future-proofing the organization to ensure energy security, growth, and long-term sustainability for South Africa and sub-Saharan Africa.
Source: https://energynewsafrica.com
Development Banks Commit $50 Billion To Power Africa, Electrify 300 Million Homes
African Development Bank Group, the World Bank Group, and other development partners have made a landmark commitment to allocate nearly $50 billion in financing to make electricity accessible to 300 million people across Africa by 2030.
The AfDB and World Bank Group have announced a total of $48 billion in support, while other partners have also made significant commitments:
Agence Française de Dévelopment (AFD) pledged €1 billion while Asian Infrastructure Investment Bank (AIIB) committed $1 billion to $1.5 billion to support Mission 300.
Islamic Development Bank (IsDB) Group pledged $2.65 billion in support of Mission 300 and energy access in Africa from 2025-2030.
The OPEC Fund for International Development also announced an initial commitment of $1 billion in support of Mission 300, with additional financing to follow.
These pledges were made at the Mission 300 Africa Energy Summit hosted by the United Republic of Tanzania in Dar es Salaam.
Twelve countries presented detailed National Energy Compacts, which set targets to scale up electricity access, increase renewable energy use, and attract private capital.
These country-specific plans are time-bound, rooted in data, endorsed at the highest level and focus on affordable power generation, expanding connections, and regional integration.
They aim to boost utility efficiency and expand clean cooking solutions.
Deploying satellite and electronic mapping technologies, these compacts identify the most cost-effective solutions to bring electricity to underserved areas.
“Access to electricity is a fundamental human right. Without it, countries and people cannot thrive,” said Ajay Banga, President of the World Bank Group.
“Our mission to provide electricity to half of the 600 million people in Africa without access is a critical first step. To succeed, we must embrace a simple truth: no one can do it alone. Governments, businesses, philanthropies, and development banks each have a role—and only through collaboration can we achieve our goal.”
Dr. Akinwumi A. Adesina, President of the African Development Bank Group, emphasized the need for decisive action to accelerate electrification across the continent. “Critical reforms will be needed to expand the share of renewables, improve utility performance, ensure transparency in licensing and power purchase agreements, and establish predictable tariff regimes that reflect production costs.
“Our collective effort is to support you, heads of state and government, in developing and implementing clear, country-led national energy compacts to deliver on your visions for electricity in your respective countries.”
Source: https://energynewsafrica.com
Ghana: GNPC, ENI Commit To Greater Partnerships For Energy Sector Growth
Ghana’s national oil company, GNPC, and Italian oil and gas firm, Eni, have reaffirmed their commitment to strengthening their partnership to drive growth in Ghana’s energy sector.
This commitment was made during a high-level meeting between GNPC’s CEO, Edward Abambire Bawa, and Eni Ghana’s Managing Director, Maurizio Pinna, at the GNPC office in Accra.
The meeting was part of Hon. Bawa’s early engagements with key industry partners and yielded fruitful discussions on areas of opportunity for greater collaboration and synergy.
The discussions focused on improving relationships between GNPC and ENI, as well as identifying opportunities for joint initiatives, optimization of existing assets, and future exploration prospects.
Bawa emphasized the importance of strengthening partnerships to advance GNPC’s vision of maximizing oil and gas production while ensuring environmental sustainability.
He reaffirmed the Corporation’s commitment to leveraging strategic alliances to enhance efficiency and create value across the petroleum value chain Eni executives expressed confidence in GNPC’s leadership and reiterated their commitment to deepening engagement with the Corporation.
This renewed commitment aligns with GNPC’s vision for Ghana’s energy security and economic development.
The partnership between GNPC and Eni is expected to drive growth in Ghana’s energy sector, creating value across the petroleum value chain while ensuring environmental sustainability.
GNPC and Eni have a history of collaboration, having worked together on the Offshore Cape Three Points (OCTP) project, which provides domestic gas supply to Ghana’s thermal power plants.
Source: https://energynewsafrica.com
He reaffirmed the Corporation’s commitment to leveraging strategic alliances to enhance efficiency and create value across the petroleum value chain Eni executives expressed confidence in GNPC’s leadership and reiterated their commitment to deepening engagement with the Corporation.
This renewed commitment aligns with GNPC’s vision for Ghana’s energy security and economic development.
The partnership between GNPC and Eni is expected to drive growth in Ghana’s energy sector, creating value across the petroleum value chain while ensuring environmental sustainability.
GNPC and Eni have a history of collaboration, having worked together on the Offshore Cape Three Points (OCTP) project, which provides domestic gas supply to Ghana’s thermal power plants.
Source: https://energynewsafrica.com Ghana: Fuel Export To Sahel Region Soars By 23% In 2023
Ghana’s crude oil and refined petroleum product imports rose to 5,145,000 metric tonnes in 2023 from 4,199,000 metric tonnes in 2022, data by the Chamber of Bulk Oil Distribution Companies has revealed.
This represents a significant 23% increment of the 2022 imports figure.
Specifically, crude oil import accounted for 424,773 metric tonnes, representing 8%, while refined petroleum accounted for 4,720,227 metric tonnes, representing 92% of the total imports.
In view of the increase in import, export of petroleum products from Ghana to Sahel countries also rose to 314,234 metric tonnes in 2023, representing 8% rise from the 2022 figure.
The export products comprise 180,641 metric tonnes of gasoline, 67,186 metric tonnes of LPG, 65,112 metric tonnes of gasoil and 1,262 metric tonnes of ATK.
Per the destination of the products, Burkina Faso accounts for 97.7% while Mali, Niger and Togo account for 2.3%.
Sonabhly, a Burkinabe BDC, transited 97% of the total product to Burkina Faso, while Ghanaian-owned BDCs exported the remaining 3%.
In terms of volumes, Sonabhly transited 180,674 metric tonnes of gasoline, 61,419 metric tonnes of gasoil, 62,737 metric tonnes of LPG, while Fueltrade exported 380 metric tonnes of gasoil and 3,368 metric tonnes of LPG.
State-owned Bulk Energy Storage and Transportation Company Limited, formerly BOST, exported 1,830 metric tonnes of gasoil.
Go Energy, a subsidiary of GOIL PLC, exported 456 metric tonnes of gasoil, while Sage and Juwel Energy exported 1,081 metric tonnes of ATK and 1,027 metric tonnes of gasoil respectively.
Source: https://energynewsafrica.com
Nigeria Energy 2025
Date: 28 – 30 October 2025
Location: Landmark Centre, Lagos
Nigeria Energy, now in its 11th edition, stands as West Africa’s leading energy event because of our dedication to bringing together a comprehensive array of industry leaders, innovators, and game-changing technologies.
We believe in showcasing the entire energy value chain, from cutting-edge generation and transmission advancements to groundbreaking solutions in renewables and energy efficiency.
Nigeria Energy ignites thought leadership through high-level conferences featuring expert speakers at the forefront of the industry.
We create a platform for invaluable insights, critical discussions, and fostering meaningful connections that collectively chart the course for a brighter energy future for West Africa.