Ghana: NPA Changes Logo In Rebranding Move

Ghana’s petroleum downstream regulator, National Petroleum Authority (NPA), is currently rebranding its corporate image to make the organisation more visible to industry players and the public, both in Ghana and across the West African sub-region. As part of the rebranding effort, the NPA has redesigned its corporate logo to reflect the regulatory mandate of the Authority. The previous logo of NPA had two circles with the map of Ghana inside the first circle and the acronym NPA written on the map. However, the current logo, which is more reflective of the work of the Authority, has the map of Ghana with the symbol of oil inside the map. And inside the oil symbol is an eye with NPA written beside it at the right side. Energynewsafrica.com spotted the new logo in a post on Facebook by the CEO of NPA, Dr Mustapha Abdul-Hamid, on Monday, August 21, 2023. The post, which was intended to promote LPG, which is clean energy compared to charcoal or woodfuel, sought to ask consumers what else could be harming their respiratory health. “Let’s dive into the surprising culprit that poses a risk to your respiratory system,” his post said. Speaking to Abdul-Kudus Mohammed, Corporate Communications Manager at NPA, about the logo, he said the previous logo did not reflect the work of the Authority, hence, the decision to change it. “If you look at the present logo, it has a symbol of oil which talks about the industry within which we operate. And then, it carries an eye in-between, showing that we are regulator or having the eye on the industry and is situated within the Ghana map, meaning our jurisdiction is within Ghana. It clearly tells you that we oversee and regulate the activities of oil marketing industry in the downstream. Logos tell a story, so this new logo tells our story,” he explained. According to him, the Authority would also properly name its head office located around the Dzorwulu traffic light to make it easier for consumers and industry players to locate it. “This is part of a bigger corporate image,” he added. The National Petroleum Authority was established by an Act of Parliament (NPA Act 2005, ACT 691) to regulate the petroleum downstream industry in Ghana. As a regulator, the Authority ensures that the industry remains efficient, profitable, fair and at the same time, ensuring that consumers receive value for money.   Source: https://energynewsafrica.com  

Alberta Halts New Wind And Solar Projects As Resistance To Renewables Grows

Alberta, Canada’s oil heartland, this month instituted a moratorium on new wind and solar power projects for a period of seven months. The moratorium only concerns installations of over 1MW in capacity and its purpose is to give Alberta’s government time to study the impact of such installations on the grid, on the environment, and “Alberta’s pristine viewscapes”, according to the Wall Street Journal. Alberta, however, is not the only one pushing back against wind and solar projects. Reports from earlier in the year suggest that there is growing opposition in rural America against windmills and solar farms. At the time, the WSJ suggested that this opposition could jeopardize the goals of the Inflation Reduction Act which represents the bulk of subsidies allocated for transition-related projects, with a heavy focus on wind and solar power. Representatives of the wind and solar industries in Alberta are now expressing similar concerns. The CEO of the Canadian Renewable Energy Association said that the moratorium will put at risk some 80 projects worth a combined $15 billion. The WSJ notes in its report that most of the wind and solar installations in Canada are located in Alberta. The oil province’s share of Canada’s total is 75% as of 2022, Vittoria Belissimo told the WSJ, with the total new additions last year in Alberta reaching 1.39 GW. This fast buildout may be part of the problem. In its earlier report from May, the WSJ noted that opposition to wind and solar installations is coming from areas that have seen massive buildouts already. The report cited Kansas as an example, with wind power capacity expanding fast over the past 20 years, coming to account for 45% of the state’s electricity output. What followed was a moratorium on new wind and solar projects in more than a dozen counties in Kansas amid concern for the environment and the effect these installations are having on local ecosystems.     Source: Oilprice.com

The Unintended Consequences Of Severing Electricity Supply To Niger Amidst Recent Coup (Article)

Niger’s economy is based largely on subsistence crops, livestock, and some of the world’s largest uranium deposits. Drought cycles, desertification, a 3.4% population growth rate and the drop in world demand for uranium have undercut an already marginal economy. Traditional subsistence farming, herding, small trading, and informal markets dominate an economy that generates few formal sector jobs. It is a least developed and low-income economy for that matter. I have four (4) very basic questions demanding answers from the ECOWAS Leaders on the decision to severe electricity to Niger: Is this the kind of country you opted to deny electricity access because of the recent coup? Where is the intercept of your action with the Sustainable Development Goals? What is the expected gain at the end of your action to Niger and ECOWAS? What is the real justification for your decision to cut the power supply to this nation? The recent coup in Niger has not only ignited political turmoil but has also cast its shadow on vital sectors like energy, with the abrupt severing of electricity supply. This paper delves into the negative impact of disconnecting electricity supply to Niger in the wake of the coup. As electricity constitutes a lifeline for essential services and socio-economic activities, the disruption has far-reaching consequences that demand urgent attention. Electricity’s Crucial Role Electricity access in Sustainable Development Goals is a necessity of life and not a privilege towards eradication of poverty. Electricity is the heartbeat of modern societies, powering health care facilities, communication networks, water supply systems, and economic activities. The abrupt cessation of electricity delivery in Niger due to the coup ripples through every facet of daily life, exacerbating existing challenges and creating new ones. Impact on Healthcare Medical Facilities: Hospitals and clinics heavily rely on uninterrupted electricity supply for medical equipment, life-saving procedures, and refrigeration of medicines. The sudden disruption threatens patient care, potentially leading to critical situations. Vaccine Storage: In the midst of a pandemic, the lack of electricity imperils the storage of vaccines, endangering ongoing vaccination efforts and public health initiatives. Socio-Economic Disruption Business Operations: Industries, businesses, and commercial establishments are paralyzed without electricity. The halt in economic activities contributes to reduced incomes, unemployment, and economic instability. Education: Schools and universities heavily depend on electricity for online learning, digital resources, and administrative tasks. The outage disrupts education, impacting future human capital development. Public Safety and Communication Security Services: Electricity is crucial for surveillance cameras, communication systems, and emergency response mechanisms. A power vacuum weakens public safety infrastructure. Communication Networks: Electricity outage affects telecommunications, impeding information dissemination and contact with loved ones during times of crisis. Food Security and Water Supply Agriculture: Without electricity, agricultural operations are hindered, affecting food production, processing, and distribution. This can exacerbate food insecurity. Water Supply: Electricity powers water pumping and treatment systems. The lack of water compromises hygiene, sanitation, and access to safe drinking water. Humanitarian Concerns Vulnerable Populations: The most vulnerable – children, elderly, and marginalized communities – suffer disproportionately during such disruptions, as they lack resources to cope. Humanitarian Assistance: The ability to deliver aid, medical supplies, and relief efforts is compromised, aggravating the impact of the coup on affected populations. The Urgent Need for Remediation The negative impact of severing electricity supply to Niger in the aftermath of the coup cannot be underestimated. As the nation grapples with political transitions, mitigating the collateral damage to essential services, healthcare, education, and socio-economic stability is paramount. International organizations, neighboring countries, and diplomatic efforts must collaborate to restore electricity supply swiftly, ensuring that the crisis does not morph into a humanitarian catastrophe. By prioritizing the restoration of electricity, Niger can begin the journey towards stability and recovery. Given the commissioning of the West Africa Power Pool (WAPP) and the Regional Electricity Market (REM), we do not expect to see political issues to become a barrier to the regional electricity trade. Source: Dr. Elikplim Kwabla Apetorgbor, Power Systems Economist & CEO of the Independent Power Generators, Ghana.

Ghana: WAPCo’s New MD Calls On GRIDCo’s Chief Executive Officer

The newly appointed Managing Director of the West African Gas Pipeline Company (WAPCo), Ms Michelle Burkett, has visited Ghana’s power transmission company, GRIDCo, to officially introduce herself to the company. She replaced Mr. Gregory Germani, who this portal understands transitioned to a new role at Chevron Pipeline & Power in Houston, Texas, USA. Ms Burkett, who was accompanied by Dr Isaac Adjei Doku, General Manager of Corporate Affairs at WAPCo, held a meeting with the Chief Executive of GRIDCo, Ing Ebenezer Kofi Essienyi. During the meeting, Ms Burkett praised the collaborative relationship between the two entities and emphasised transparent communication, especially in challenging circumstances. She recognised GRIDCo as a vital downstream partner and pledged her dedication to strengthening this partnership. Dr. Doku mentioned WAPCo’s efforts to enhance engagements with their key stakeholder, the media. Ing Mark Baah, the Director of Southern Network Operations, revealed GRIDCo’s plans for Safety and Risk Management training sessions in support of WAPCo’s operations. Also in the meeting were Mr Samuel Nkansah, the Director of Finance; Ing Stephen Debrah, the Manager for Dispatch; and Wofa Kojo Kwarteng, the Manager of the Executive Office.     Source: https://energynewsafrica.com

Ghana: GRIDCo Grabs Four Prestigious Awards At NGBLA 2023

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Ghana Grid Company Ltd. (GRIDCo) secured four prestigious awards at the 3rd Annual National Governance and Business Leadership Awards (NGBLA) 2023, which took place in Accra, the capital of Ghana. The awards earned were: Exemplary Energy Business Hero of the Year, which was presented to Ing Ebenezer Essienyi, GRIDCo’s Chief Executive, Outstanding Board Governance Award was presented to recognise GRIDCo’s exceptional Board efforts, National Top 20 Procurement and Supply Chain Leaders of The Year 2022, was awarded to Ing Nicholina Nkang-Ma Yembilah, GRIDCo’s Director of Procurement and Excellence in Procurement & Supply Chain Team of the Year (Energy-Silver)–Celebrating the outstanding achievements of the GRIDCo Procurement Team. Themed: ‘Transformational Leadership; Passion, Vision & Strategic Management’, the event featured three prominent keynote speakers: Professor Emeritus Stephen Adei, former Chairperson of the National Development Planning Commission (NDPC); Mr Kwasi Agyeman Busia, Chief Executive of the Driver and Vehicle Licensing Authority (DVLA) and Mr Edwin Alfred Provencal, Managing Director of Bulk Oil Storage and Transportation (BOST) Company Limited. Mr. Samuel Kow Acquah, Acting Director, Office of the Chief Executive, received the Chief Executive’s award on his behalf. Mrs. Ama Benstiwa Haywood-Dadzie, Company Secretary, represented the Board whilst Mr. Richard Koranchie, Manager, Materials Management, received the award on behalf of the Procurement Team. Ing Nicholina Nkang-Ma Yembilah, Director of Procurement, was present to receive her award. The NGBLA, conceived by The Governance & Business Boardroom, is a distinguished programme aimed at acknowledging exceptional corporate governance, strategic leadership, economic empowerment and job creation in Ghana. This impactful awards initiative serves as a platform to recognise and honour individuals and organisations contributing significantly to Ghana’s economic development and growth.       Source: https://energynewsafrica.com

Big Solar Slapped With Tariffs For Dodging China Duties

The US Department of Commerce will on Friday finalise a decision to impose import duties on solar panel manufacturers who made their products in Southeast Asian nations in a bid to avoid tariffs on Chinese-made goods. The Commerce probe found that units of Chinese companies BYDTrina Solar, Longi Green Energy and Canadian Solar (NASDAQ: CSIQ) were dodging U.S. tariffs on Chinese solar panels by finishing their products in Cambodia, Malaysia, Thailand and Vietnam before shipping them to the U.S. market. The U.S. has had anti-dumping duties for a decade now on Chinese-made solar products after the government determined that Chinese companies were receiving unfair government subsidies that made it hard for U.S. panel manufacturers to compete. The tariffs will hurt buyers of solar panels that rely on cheap products from China and Asia to make their projects competitive. However, the tariffs are bound to be music in the ears of the small U.S. solar manufacturing industry, which has long struggled to compete with Chinese goods. Meanwhile, the U.S. government is currently scrutinizing Chinese electric-vehicle battery and car parts supply chains for possible links to forced labor. Under the newly enacted Uyghur Forced Labor Prevention Act (UFLPA), the U.S. has banned the importation of goods made in Xinjiang, China, where the U.S. believes Chinese authorities have set up labor camps for Uyghurs and other Muslim minority groups. This could signal difficult times ahead for EV makers, who might be required to provide solid proof that their supply chains are free of any form of forced labor. China Likely Tapped Its Crude Inventories In July Two years ago, CBP banned U.S. imports of a key solar panel material from Chinese-based Hoshine Silicon Industry Co over forced labor allegations. The U.S. Commerce Department also restricted exports to Hoshine, the paramilitary Xinjiang Production and Construction Corps (XPCC), Xinjiang Daqo New Energy Co, a unit of Daqo New Energy Corp. (NYSE: DQ,) Xinjiang East Hope Nonferrous Metals Co, a subsidiary of Shanghai-based manufacturing giant East Hope Group; and Xinjiang GCL New Energy Material Co, part of GCL New Energy Holdings Ltd.     Source: Oilprice.com

Kenya: KenGen Appoints Eng. Peter Njenga As Managing Director And CEO

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Kenya Electricity Generating Company PLC (KenGen) Board has appointed Eng. Peter Waweru Njenga as Managing Director and Chief Executive Officer. Eng. Njenga assumes the position previously held by Mr. Abraham Serem in an acting capacity. “Eng. Njenga takes over leadership of the NSE-listed company at a pivotal moment as it unveils an ambitious 10-year plan to significantly increase baseload electricity generation, aiming to reach a milestone of up to 3,000MW of installed electricity generation capacity,” a statement issued by the company on Friday said. Stepping into this pivotal role, Eng. Njenga brings with him a remarkable legacy of excellence in corporate leadership and management. Prior to his appointment, he distinguished himself as a reputable energy expert most notably as General Manager for Infrastructure Development at Kenya Power. Throughout his tenure, Eng. Njenga held various senior management positions and played a pivotal role in driving growth in the energy sector. With an illustrious career spanning over 31 years, Eng. Njenga began as a graduate trainee at Kenya Power in 1991, and he steadily ascended the ranks to attain this prestigious appointment. Eng. Njenga’s academic foundation includes a Bachelor of Science Degree in Electrical Engineering from the University of Nairobi, complemented by a Master’s Degree in Business Administration (Strategic Management) from the same institution. Eng. Njenga’s appointment ushers in an existing era for KenGen PLC as it embarks on a transformative journey towards increased baseload electricity generation. His strategic foresight, unwavering commitment, and dynamic vision make him a pivotal addition to the leadership team. The KenGen PLC Board of Directors congratulated Eng. Peter Njenga on his appointment. “The Board also takes this moment to acknowledge and express gratitude for the exceptional leadership demonstrated by Mr. Abraham Serem during his tenure in an acting capacity. “The Board eagerly anticipates witnessing the realization of the company’s ambitious 10-year plan under Eng. Njenga’s able stewardship,” the statement concluded.     Source: https://energynewsafrica.com

Ghana: Daniel Osei-Appiah Appointed Acting Managing Director Of TOR

The immediate past General Manager for Finance at state-owned Tema Oil Refinery (TOR), Mr. Osei-Appiah has been appointed as the Acting Managing Director of the refinery. Mr. Appiah worked at the refinery for several years and retired on July 11, 2023. On Friday, August 12, 2023, this portal reported that Mr. Jerry Kofi Hinson, Managing Director of the refinery had been fired over the controversial planned leasing of the refinery to Torentco Assets Management, a private firm registered about six months ago without track record in the oil and gas business both locally and international. Mr. Jerry Kofi Hinson had refused to sign the deal which many considered is not in the best interest of the State. After the publication, a letter emerged suggesting that Mr. Jerry Kofi Hinson resigned due to ‘unforeseen health circumstances’, a claim some industry experts have described as laughable. In a letter dated 17th August 2023, which confirms the appointment of Mr Daniel Osei-Appiah as the Acting Managing Director, and copied Board Chairman of Tema Oil Refinery, David K.T Adomakoh, Nana Bediatuo Asante, Secretary to the President of Ghana wrote “With reference to your correspondence no. BOARD)DKTA/eh/R..18/23 dated 14th August,2023, bearing on the above mentioned subject matter, I write to inform you that the President of the Republic has granted a no.objection to the appointment of Mr Daniel Osei-Appiah as Acting Managing Director for the Tema Oil Refinery TOR Ltd. Please accept the President’s best regards.” Following the President’s approval, the Human Resource Department on Friday issued a notice informing all staff about the development.   Source: https://energynewsafrica.com

Nigeria: Tinubu Appoints Banker As New Minister For Power

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A former Deputy Governor of the Central Bank of Nigeria responsible for Operations Adebayo Adelabu has been appointed as the new Minister for Power by President Bola Ahmed Tinubu. His name was part of the ministerial list released by the Presidency earlier in the week. He started his career with PriceWaterhouse (now PricewaterhouseCoopers), an international firm of chartered accountants and management consultants. During his seven years with the firm, he led and managed various audit and consultancy engagements for large banks and non-bank financial institutions within and outside Nigeria. He was on secondment to the Central Bank of Nigeria for one year in 1999 when he led the finance team on the CBN re-engineering and corporate renewal project tagged “Project EAGLES”. Adelabu left the firm in 2000 as an audit manager and senior consultant to join First Atlantic Bank as the Financial Controller and Group Head of Risk Management and Controls. He was later promoted to Chief Inspector of the Bank in 2002 and Group Head of National Public Sector Business in 2003. He then moved to Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business) with dual offices in Lagos and Accra. He was there till 2009 and later he became an Executive Director/Chief Financial Officer (CFO) of Nigeria’s largest bank, First Bank of Nigeria Plc. (FBN) at the age of 39. He was later appointed by former President Goodluck Ebele Jonathan in February 2014 as Deputy Governor, Operations of the CBN. Adelabu serves as the Chairman, of the Board of Directors of the Nigeria InterBank Settlement Systems and has chaired the board of the Financial Institution Training Centre. He is also a serving member of the Board of Federal Inland Revenue Services, Nigeria Security Printing and Minting Company, the Assets Management Corporation of Nigeria, and the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of Chartered Institute of Bankers of Nigeria and an Associate Member of the Institute of Directors of Nigeria and the United Kingdom. Adelabu has also taken up professional courses in various business schools, including Harvard, Stanford, Wharton, Columbia, Kelloggs, Euromoney, and the University of London.         Source: https://energynewsafrica.com 

Energy Personalities Outreach Programme: ‘Aburi Girls’ Tasked To Take Responsibility For Their Lives

The reigning Energy Personalities of the Year (Male and Female) at the 2022 Ghana Energy Awards (GEA) in the Republic of Ghana, Emmanuel Antwi-Darkwa, Chief Executive of the Volta River Authority (VRA) and Ing. Harriette Amissah-Arthur, Executive Partner of Arthur Energy Advisors, have engaged students of the Aburi Senior High School for the 2023 Energy Personalities Outreach Programme. Organised by the Energy Media Group (EMG), the Outreach was held under the theme: “Impacting the Next Generation Leaders Today.” It is a platform for the apex winners of the Awards to interact with students of second-cycle institutions for them to learn about the energy sector and its prospects, as well as to help the youth to cultivate habits and develop attitudes requisite for a successful future. The 2023 Energy Personalities Outreach Programme (EPOP) took place at the school’s premises in Aburi in the Eastern Region and involved over 900 students of the school. The energy sector giants urged the students to own and take responsibility for their lives, and be intentional about their actions and choices. They also tasked the students to use their time judiciously and effectively utilise all resources at their disposal to achieve their set targets. Arthur Energy Advisors’ Executive Partner, Ing. Amissah-Arthur, the Energy Personality of the Year for 2022, advised the students to own their lives, manage their resources and relationships well, and define their idea of success. Commitment, consistency, sustaining positive actions through the efficient and effective use of time, and developing individual capacities, according to her, will lead them to excel. She subsequently called for more such programmes to extend the reach of youth engagements in the country, which will further spread and increase the impact of national empowerment efforts. VRA’s Chief Executive, Emmanuel Antwi-Darkwa, who is a three-time winner of the Apex Award, encouraged the students to be ambitious and set goals for themselves, and to not be afraid to fail, but rather persevere with all humility to achieve what they set out to do while keeping God at the fore of their lives. Speaking to the media, he underscored the need to bridge the existing gap in female participation, especially in the energy sector. He said such avenues, such as the Energy Personalities Outreach Programme, create the needed platform to awaken their consciousness of their unique capabilities for the sector and stimulate an interest to aspire to its prospects. Chief Executive Officer of the Energy Media Group, Ing. Henry Teinor, in a welcome address, noted that the Outreach programme “is designed to contribute to Ghana’s STEM education efforts, using the approach of mentorship to motivate the youth into developing interests and actively participating in the country’s energy sector. The programme included a Character Development Session, and an Interactive Session, led by Lawyer Kwame Jantuah, Chairman of the GEA Awards Panel, where the students were allowed to ask questions. This Outreach Programme is the fifth in the series and is an initiative of the Ghana Energy Awards. In previous years, EPOP has featured various schools including the Achimota School, West Africa Senior School, Nungua Senior High School, and the St. Mary’s Senior School in Accra.       Source: https://energynewsafrica.com

Ghana: BOST Registers Huge Net Profit Of Gh¢342Million In 2022

Ghana’s strategic petroleum stock keeping company, BOST, registered a huge net profit after tax of Gh¢342,494,604 in 2022 compared to the net profit of Gh¢160,718,361 in 2021. This means that the company’s 2022 net profit went up by 112 % over the 2021 figure. The company’s operating income also increased by 69 percent from Gh¢254,291,419 in 2021 to Gh¢428,923,102 in 2022. This was on the back of a 77 per cent increase in revenue from Gh¢1.121 billion in 2021, to Gh¢3.019 billion in 2022. Revenue from fuel product sales also saw an increase of 387 per cent in 2022 compared to 2021. Revenue from gasoline sales increased by 224 per cent, from Gh¢340,633,871 to Gh¢1,103,299,371, whilst gasoil sales increased by 352 per cent from Gh¢331,063,261 to Gh¢ 1,495,912,905. Storage fees increased by 27 per cent, from Gh¢21,889,891 in 2021 to Gh¢27,715,044, while Rack fees also increased by 24 per cent, from Gh¢30, 753,298 in 2021 to Gh¢30,172,046 in 2022. This was revealed by the Board Chairman, Mr Ekow Hackman on Thursday at the company’s 2nd Annual General Meeting held at its new head office in Accra, capital of Ghana. “This positive trading performance can be attributed to improved financing arrangements, more effective customer engagement and retention initiatives as well as the prudent management of trading risks,” he explained. BOST had been recording losses since 2011 until in 2021 when the company under the current management started posted profit. With smiles beaming all around his face, Board Chairman Mr Ekow Hackman said the Board expects that the declaration of profits by BOST become an annual tradition to be celebrated by all and sundry. Giving details of the transformation that has taken place over the years, Mr. Ekow Hackman stated that the company revived its strategically located pipelines and barges which enabled them to deliver fuel products securely and cost-effectively to consumers across the country. He added that through the dedicated efforts of management and workers, BOST increased significantly the revenue generating assets of the company to 97 per cent from a trough of 34 per cent in 2017. “We are committed to ensuring that 100 per cent of our assets are generating revenue by the end of 2023,” he assured. Touching on the company’s outlook, Mr Ekow Hackman said BOST would continue to put measures in place to further enhance efficiency saying there would be automation of its depots which has stalled for many years. He said the company has concluded the Front- End Engineering Design (FEED) for the Tema Kumasi Pipeline Project (TKPP) saying the company is looking forward to partner with private entities to construct this pipeline. He was hopeful that the execution of the project would help to reduce the company’s carbon footprint and in addition to planned construction of LPG tanks, would also ensure the diversification of revenue streams as well as support government initiatives for youth employment. He commended the Managing Director of the company, Mr Edwin Alfred Nii Obodai Provencal for his quality leadership skills that have seen the transformation of the company since he assumed office in August 2019. The Managing Director of BOST, Mr Edwin Provencal said the company will continue to explore new markets within the sub-region for petroleum products while at the same time, prepare to transition from a purely oil and gas company to a full energy company. He said they will do this by diversifying product mix by investing in the storage of new transition fuels such as LPG, Blended ethanol amongst others. Minister for Energy, Dr Matthew Opoku Prempeh who was excited by BOST’s success story commended the Board, Management and staff of the company. He said the remarkable performance of BOST reinforces his firm belief that State-Owned Enterprises can generate profits, pay dividends and make significant contributions to the government’s fiscal policies with the right leadership, attitude and balance. “The BOST model should serve as an exemplary example for all SOEs,” he stated. The Director -General of the State Interests and Governance Authority (SIGA), Ambassador Edward Boateng who was also excited praised Management and staff for transitioning BOST from negative equity position of Gh¢ 248,190,799 in 2021 to a positive position of Gh¢86,466,542.     Source: https://energynewsafrica.com         Source: https://energynewsafrica.com

Nigeria: Fadeyibi Resigns As AEDC CEO, New CEO Appointed

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The Chief Executive Officer and Managing Director of Abuja Electricity Distribution Company (AEDC), Engr Adeoye Fadeyibi, has resigned from his position, energynewsafrica.com can confirm. It is not yet clear why Engr Fadeyibi resigned. A notice by AEDC sighted by this portal said: “This is to officially bring to our notice that rising from a meeting with the Board and EMT this morning, it has been officially disclosed that our dear MD/CEO Engr. Adeoye Fadeyibi* has resigned his appointment effective yesterday upon the ratification during the board meeting.” Engr. Fadeyibi was appointed in May 2022. Before joining AEDC, he was the Managing Director/CEO of Eko Electricity Distribution (EKEDC). He is an astute professional with over 20 years of power sector experience. Following his exit, the Board of AEDC appointed Mr. Christopher Ezeafulukwe, the MD/CEO of Transcorp Energy, as his replacement and presented him to the staff.       Source: https://energynewsafrica.com

Ghana: Fuel Prices Shoot Up Significantly

Fuel prices have been increased in the Republic of Ghana with a litre of petrol selling around Gh¢13.50 while diesel is sold at Gh¢13.90 per litre. The increment in fuel prices is a result of the rise in prices of finished products—diesel and petrol —and crude oil prices within the first pricing window from August 1-15, 2023. Data from the regulator, National Petroleum Authority (NPA), showed prices of finished products—diesel and petrol—jumped on the international market within the last two weeks with an estimated price of gasoline (petrol) being US$967.29 per metric tonne while gasoil (diesel) was US$901.73 per metric tonne. As of Wednesday morning, August 16, 2023, leading oil marketing companies— GOIL Plc, Shell, TotalEnergies and Star Oil adjusted their pump prices upward. GOIL and TotalEnergies adjusted their pump prices of petrol to Gh¢13.50 per litre from the previous Gh¢12.95 per litre while diesel was adjusted to Gh¢13.80 per litre. Shell adjusted its petrol price to Gh¢13.29 per litre while diesel was adjusted to Gh¢13.39 per litre. It previously sold both petrol and diesel at Gh¢12.95 per litre. Star Oil also adjusted its pump prices for both petrol and diesel at Gh¢12.49 per litre. It previously sold petrol at Gh¢11.99 per litre while diesel was sold at Gh¢12.25 per litre. Dukes adjusted petrol price to Gh¢12.38 per litre while diesel was adjusted to Gh¢12.45 per litre. Petrosol Ghana also adjusted its pump prices with petrol selling at Gh¢12.99 per litre while diesel is sold at Gh¢13.19. It previously sold petrol at Gh¢12.65 per litre while diesel was sold at Gh¢12.69 per litre. Pacific also adjusted its pump prices with petrol selling at Gh¢12.95 per litre while diesel is sold at Gh¢13.15. Cash Oil also adjusted both pump prices for petrol and diesel at Gh¢12.49 per litre. Allied is selling petrol at Gh¢12.47 per litre while diesel is sold at Gh¢12.57 per litre. Lucky Oil is selling petrol at Gh¢12.45 per litre while diesel is sold at Gh¢12.49 per litre. Zen is selling petrol at Gh¢12.38 per litre while diesel is sold at Gh¢12.49. Unlike in other parts of Africa where fuel prices are reviewed monthly, in Ghana, fuel prices are reviewed every two weeks.     Source: https://energynewsafrica.com

Kenya: GDC Strikes Huge Geothermal Well In Baringo County

Kenya continues to boost power production in the area of geothermal energy with the latest news being the discovery of a huge geothermal well at Paka Hills, Baringo County, with a capacity of producing 22MW of electricity. This latest discovery brings GDC’s total potential output in the region to 70MW. Commenting on the latest discovery, Energy and Petroleum Cabinet Secretary, Davis Chichir described the discovery as a significant milestone which brings Kenya closer to lowering the cost of power. “It’s a moment of pride for Kenya. By the end of this year, we should be going to tender and invite investors to convert the steam here into electricity,” he said. He said Kenya Electricity Transmission Company (KETRACO) would start to work on the modalities of evacuating power from Paka Hills to the national grid. It is expected that power from Paka Hills would be cheaper, estimated to cost less than seven US cents. According to him, an independent power producer in Menengai, Nakuru, is already producing 35MW of power geothermal selling at 6.9 US cents. “That’s very competitive. It explains why the government is committed towards the development of geothermal resources in the country,” the CS said. “With such low tariffs and considering that geothermal is green energy, Kenya will attract investors who will also take advantage of our infrastructure like the SGR, ICT and educated workforce,” he added. The Managing Director and CEO of Geothermal Development Company (GDC), Paul Ngugi said hitting such huge geothermal wells saves time and costs. “On average, a geothermal well would produce 5MW. Therefore, hitting 22MW is like drilling four wells for one which is a terrific achievement,” he said.       Source: https://energynewsafrica.com