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
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
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
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
Israel is listening to U.S. concerns about a possible retaliatory strike on Iran’s energy infrastructure, but it will make its own decision on how to avenge the Iranian missile attack, the office of the Israeli prime minister has said.
The world and the oil market are awaiting Israel’s response to the Iranian missile attack on Israel on October 1.
Targeting Iranian oil infrastructure hasn’t been ruled out, which has kept the region and the market on edge over the potential spillover of the conflict to the wider Middle East.
“We listen to the opinions of the United States, but we will make our final decisions based on our national interests,” a statement from Benjamin Netanyahu’s office said on Tuesday, as carried by Blomberg.
The statement was issued after the Washington Post reported that Netanyahu had told the U.S. Administration that Israel would rather go for military targets in Iran, rather than oil and nuclear facilities.
Netanyahu and President Joe Biden spoke last week, the Washington Post reported on Monday, citing two officials with knowledge of the matter.
Israel’s retaliatory action would be calibrated to avoid the perception of “political interference in the U.S. elections,” one of the officials told the Post.
Market speculation has been ripe over the past two weeks, with analysts weighing the possibility of Israel striking Iranian oil facilities and thus provoking a counter-strike from Iran, either in the form of Iranian proxies targeting oil infrastructure in other Middle Eastern producers or attempting to block the Strait of Hormuz.
Most analysts say that the OPEC spare capacity, concentrated in Saudi Arabia and the UAE, would be enough to compensate for an Iranian loss of supply. An even more significant disruption to supply from the Middle East could lead to triple-digit oil prices.
But analysts currently believe attacks on oil infrastructure in other producers in the region or the closure of the Strait of Hormuz are low-probability events.
The most recent comments from Israel that it’s “listening” to the U.S. position have eased concerns about a loss of oil supply from Iran and the wider Middle Eastern region, and oil prices tanked 4% early on Tuesday in Asian trade.
Source: Oilprice.com
The U.S. broadened the scope of its sanctions on Iran’s oil and gas sectors in response to a ballistic-missile attack on Israel, ramping up economic pressure on Tehran ahead of Israeli retaliation that’s expected any day.
Under the action announced Friday, the Treasury Department invoked a Trump administration-era executive order that allowed for sanctions on any area of the Iranian economy to deny it funding to finance malign activity.
Friday’s move essentially declares the country’s petroleum and petrochemical sector off-limits, allowing for sanctions on anyone linked to it.
Looming over the announcement Friday is the attack Israel is expected to launch on Iran at any time in retaliation for a ballistic-missile barrage that struck but caused limited damage to Israeli targets on Oct. 1.
The U.S. has pressed Israel not to target Iran’s energy sector or nuclear sites for fear of escalation and of global economic fallout.
Instead, U.S. officials offered to impose fresh economic sanctions, people familiar with the matter have said, and Friday’s action may be the result.
Israel’s security cabinet met Thursday night to discuss how to retaliate against Iran for its missile attack last week. The U.S. is pressing Israel to limit its response to military targets. Bloomberg’s Stuart Livingstone-Wallace reports.
The new sanctions allow the U.S. “to more effectively target Iran’s energy trade,” National Security Advisor Jake Sullivan said in a statement. Also sanctioned were 17 ships and 10 entities linked to the fleet of tankers that ship Iranian oil, including to China.
In a separate statement, the Treasury Department said the move allows it to “impose sanctions on any person determined to operate in the petroleum and petrochemical sectors of the Iranian economy.”
Late Thursday, Israel’s Security Cabinet met to discuss its potential action against Iran but was unable to come to a decision on what to do, according to an Israeli official. It’s unclear if there are divisions within Prime Minister Benjamin Netanyahu’s coalition government or if it’s biding its time.
The ships and companies sanctioned Friday are based in Hong Kong, the United Arab Emirates, Malaysia and elsewhere. Chinese purchases of Iranian oil have surged since 2021, according to a an analysis by the Energy Information Administration.
“I see this as a modest escalation and broadening of scope but not yet a game-changer,” Rachel Ziemba, a senior fellow at the Center for a New American Security said in a text message. “By threatening to do more, I think they hope Chinese buyers will become more wary. I’m not convinced yet given the deep illicit nature of payments.”
The vast majority of Iran’s oil exports go to China, which has shown little willingness to abide by U.S. sanctions.
The move is only the latest in a series of attempts dating back to former President Donald Trump’s administration to choke off Iran’s ability to fund proxy militias, including Hamas and Hezbollah, and its ballistic-missile program. In 2020, when Trump signed the original executive order cited in Friday’s decision, it was hailed as a major step to strangle the country’s finances.
But Iran has continued to build out its ballistic-missile program — as it showed with the Oct. 1 barrage — as well as funding proxy groups labeled terrorist organizations by the U.S. and the European Union.
Hamas’s attack on Israel on Oct. 7 of last year touched off an Israeli campaign that has killed some 42,000 people in the Gaza Strip, according to the Hamas-run health authority in Gaza.
Israel also has stepped up attacks on Hezbollah in Lebanon in recent weeks, killing Hassan Nasrallah and many of the group’s other senior leaders.
Source: World Oil
Nigeria’s national electricity grid has collapsed for the seventh time this year on Monday, October 14, 2024, at about 18:48 GMT, throwing Africa’s most populous nation into total darkness.
The cause of the incident is not yet known as the country’s transmission company, TCN, is yet to issue an official statement on the incident.
Most of the power distribution companies are reporting zero supply.
In a statement issued by Emeka Ezeh, Head of Corporate Communications at Enugu Electricity Distribution Company, it said: “The Enugu Electricity Distribution Company PLC (EEDC) wishes to inform her esteemed customers of a general system collapse that occurred at 18:48 hours today, 14th October, 2024. This has resulted in the loss of supply currently being experienced across EEDC network.
“Consequently, due to this development, all our interface TCN stations are out of supply, and we are unable to provide services to our customers in Abia, Anambra, Ebonyi, Enugu, and Imo States.
“We are on standby awaiting detailed information of the collapse and restoration of supply from the National Control Centre (NCC), Osogbo,” he concluded.
Another Disco, EKEDC, in a notice to customers, wrote: “Kindly be informed there was a system collapse at 18:48hrs which has resulted in a loss of power supply across our network.
“We are currently working with our partners as we hope for speedy restoration of the grid. We will keep you updated as soon as possible supply is restored.”
Source: https://energynewsafrica.com
Ghana’s leading indigenous Oil Marketing Company (OMC), GOIL Plc, has commenced investigations into an alleged fuel under-delivery at its branch at Atimpoku in the Eastern Region.
This follows a viral video on social media at the weekend by a customer alleging cheating at the station.
A statement issued by GOIL on Monday, 14 October, said the company frowns on such practices, adding that a thorough investigation has been launched into the incident.
“The attention of GOIL Plc has been drawn to an alleged fuel pump tampering at the Atimpoku GOIL Service Station circulating on social media platforms.
“The company frowns upon such practises. We, therefore, take such allegations seriously and have launched a thorough investigation into the matter,’’ the GOIL statement said.
Source: https://energynewsafrica.com
Liberia has performed a groundbreaking ceremony for the construction of the country’s first utility-scale solar power plant as part of effort to provide sustainable energy security.
This initiative is under the Regional Emergency Solar Power Intervention Project (RESPITE).
The ceremony, which was held last Friday, took place at the Mount Coffee Hydro Power Plant. It was attended by President Joseph Nyumah Boakai, key government officials, and representatives from the Liberia Electricity Corporation.
Georgia Wallen, the World Bank’s Liberia Country Manager, who delivered the opening remarks, emphasised the historic significance of the occasion, according to the Liberia Observer. “Today’s event is groundbreaking in more ways than one,” she stated.
“As we break ground on Liberia’s first utility-scale solar PV plant, we are marking a giant step towards realising the Liberian people’s aspirations for affordable, reliable, clean energy to power their future,” he added.
Strategically located at the Mount Coffee Hydropower Station, the new solar facility will leverage existing infrastructure and resources to maximise benefits while mitigating potential risks.
Wallen elaborated, “The solar PV plant’s location at the Mount Coffee Hydropower Station is extremely strategic. By utilising existing land, assets, and infrastructure in an innovative way, the project enhances operational efficiency.”
The hybrid model, which combines solar energy generation with the existing hydropower plant, aims to tackle the annual energy demand challenges during Liberia’s dry seasons.
“This hybrid model will help to address the stubborn, annual challenge of dry season energy demand by harnessing low-cost solar resources complemented by hydropower.
“It will boost energy efficiency and capacity and help displace expensive thermal generation,” Wallen explained.
Highlighting the urgency of the project, Wallen pointed out its alignment with Liberia’s long-term development goals.
“The 2030 target date for Liberia Rising is inching closer, adding urgency to deliver results with speed and efficiency,” she noted.
“Through this project, we are laying the foundation for utility-scale solar PV plants in Liberia to power homes, schools, hospitals, and businesses across the country.
“We believe this project will serve as a catalyst for further solar energy development, paving the way for more sustainable growth and helping to close the energy access gap. Time is of the essence.”
In addition to the immediate benefits of renewable energy generation, Wallen highlighted the potential for increased private sector involvement.
“Liberia is aiming to add another 70MW of power through solar PV, and this development can be accelerated through private sector investment,” she explained.
She announced approximately US$2 million in grant funding under the World Bank-funded Liberia Energy Sector Support Project (LESSAP), which will engage a transaction advisor for solar Independent Power Producers (IPPs) and support the completion of feasibility studies for additional solar PV initiatives.
The World Bank’s commitment extends beyond infrastructural development; it aims to address broader socio-economic issues.
“For the World Bank, these efforts are not just about building energy infrastructure,” Wallen asserted.
“They are about achieving our mission to end extreme poverty and promote shared prosperity on a livable planet.
“Harnessing Liberia’s natural endowments is integral to positioning Liberia to achieve a brighter future for all.”
In closing, Wallen expressed gratitude to the Liberian government for its proactive leadership in renewable energy initiatives.
“I would like to extend deep appreciation to the Government of Liberia for strong leadership and commitment to renewable energy,” she stated.
“Warm thanks to the Ministry of Mines and Energy, the Liberia Electricity Corporation, and the RESPITE project team, whose dedication and hard work have made this day possible,” she added.
Source: Liberia Observer
Zambia’s Electricity Supply Corporation’s Managing Director, Eng Victor B. Mapani, has clarified the wrong impression that was created in the minds of the Zambian electricity-consuming public that workers of the organisation do not pay for the power they use.
He corrected the wrong perception when he was featured in an insightful Q&A session during the public hearing on ZESCO’s resubmission on tariff adjustment to the ERB in Zambia.
“On staff specifically, no ZESCO staff gets free power. Every ZESCO staff pays for the power the same tariff as anyone in the country,”he clarified.
Touching on how the company intends to deal with its indebtedness, which totalled US$1.8 billion as of December 31, 2021, he explained that currently, the debt owned by Independent Power Producers has been reduced to less than Zambian Kwacha 430 million.
“As I stand here now, the debt towards Independent Power Producers is less than 430 million Kwacha,” he stated.
According to ZESCO’s M.D., as people who produce power and sell to them, they currently pay them on a monthly basis in full, and this justifies prudence in their financial dealings as an organisation.
Eng Mapani, who is an energy expert, assured stakeholders that there is an effort by the management to get the company to be financially sustainable and assured the country that they are determined to judiciously use any resource they get into both power supply, its development and evacuation processes.
“So accounting for the incomes currently, all the funds that we have gotten as requested for power are fully transparently used for import, and what will go for power to are also used for that purpose,” he assured them.
ZESCO’s M.D. also stressed that they are committed to being transparent in their operations so that efficiency, transparency and proper accountability become the hallmarks of the organisation.
ZESCO is a state-owned power company in Zambia, and it is the majority electricity provider in Zambia, supplying about 90 per cent of the power needs of Zambia.
The two other companies that augment electricity in the country are the Copper Belt Energy Corporation and Lusemfwa Electricity Company.
Source: https://energynewsafrica.com
The United Nations Development Programme’s Head of Environment and Climate Cluster, Dr Abdul Razak Saeed, has observed that attempts by Ghana to implement prudent and pragmatic measures to control environmental and climate degradation are key to reducing its impact on the West African nation.
He said this in a speech read on his behalf by the UNDP’s Programme Analyst, Dr Catherine Adodoadji-Dogbe, at a day’s energy efficiency regulations training for stakeholders in the sector in Accra, the capital of Ghana.
According to him, the programme provides a valuable opportunity for stakeholders in the sector to discuss strategic measures that can transform the appliance-regulated landscape sector.
“Firstly, we would like to acknowledge the Energy Commission and Ministry of Environment, Science Technology and Innovation for their commitment to organising this important gathering and bringing together key stakeholders in Ghana’s regulated appliances sector,” Dr Saeed lauded the group.
He attested that Ghana was making significant strides in fulfilling its commitment under the Nationally Determined Contributions (NDCs) outlined in the 2015 Paris Agreement.
Dr Saeed was of the view that the partnership with the Energy Commission was crucial in supporting the Government of Ghana in achieving its environmental and energy efficiency goals.
“We would also like to recognise the Partnership for Action on Green Economy (PAGE) for funding this meeting. PAGE collaborates with partner countries to transform their economies in line with Sustainable Development Goals (SDGs).
“Through this initiative, PAGE is assisting the government in implementing SDG-7 which focuses on ensuring affordable, reliable, sustainable and modern energy for all,” he stressed.
The UNDP, according to Dr Saeed, through its flagship Climate Promise Programme, and in collaboration with the Ghana Energy Commission, continues to support the Government of Ghana in fulfilling its climate commitments and encouraging energy efficiency best practices.
“UNDP is confident that by engaging key stakeholders in Ghana’s regulated appliances sector, we can raise and build a shared understanding of the importance of energy efficiency regulation. Together, we can drive collective action towards reducing energy consumption and combating climate change,”‘ he emphasised.
Energy Commission’s Manager in charge of Energy Efficiency Regulations, Mr. Richard Donkor, who touched on ways to enhance consumer benefits of efficient electrical appliance use, said efficiency is with quality and prudent management of appliances.
This, he said, holds the key to cost reduction in electricity use. Mr. Donkor also advised Ghanaians to buy quality electrical appliances accredited by the Energy Commission to help reduce their cost of electricity.
The Ministry of Environment, Science Technology and Innovation, General Manager of Projects, Mr. Gyimah Mohammed, in his presentation, observed that human activities such as old vehicle carbon monoxide emissions, and cutting down of trees, among other environmental unfriendly acts, affect the sanctity of the climate and environment’s ecosystem
These negative acts, he stressed, impact negatively on Ghana and Africa’s agriculture sector, which relies on 90 per cent rain for production.
The Public Utilities Regulatory Commission’s Engineer, Enyonam Kumi, in her presentation, urged Ghanaian consumers to learn how to use their outfit’s corner to calculate, track and measure their energy consumption.
She explained that this would help consumers to be extra careful in how to manage the use of their electrical appliances.
Participants included hoteliers, UNDP staff, the Environmental Protection Agency, Municipal and Metropolitan executives, the PURC, the Ministry of Energy, the Energy Commission, Security Agencies and the media.
The essence of the programme was to arm participants to use the knowledge acquired to help educate Ghanaian consumers on the importance of adopting effective and efficient use of electrical appliances to reduce its negative impact on climate and environmental changes in Ghana.
Source: https://energynewsafrica.com
Ghana has expressed its commitment to do everything possible to successfully host Africa’s premier and largest oil and gas event, Africa Oil Week, in Accra, capital of Ghana, in September 2025 and beyond following the decision by the organisers of the event to permanently relocate the hosting of the event from Cape Town, South Africa, to Accra, Ghana.
Africa Oil Week, formerly Africa Upstream, was founded by Duncan Clarke, a Zimbabwean, in 1994 in Cape Town.
Year after year, the premier event had been held in Cape Town until 2021 when the Hyve Group, former organisers of the event, moved it to Dubai as a result of the COVID-19 pandemic.
In a move that apparently marked the end of decades of ownership of Africa Oil Week, the Hyve Group, early this year, ceded the ownership of the premier event to a UK startup company, Sankofa Events Limited, owned by Paul Sinclair, former Vice-President of Energy for the Africa region at Hyve Group.
Sinclair was with AOW for seven years and stepped down in mid-June 2023.
With Africa Oil Week coming to Accra, Ghana, West Africa, this portal believes Accra will not offer anything short than what Cape Town had offered for the past 30 years.
Accra stretches along the Atlantic Ocean and boasts of glittering beaches, monumental buildings, museums, libraries, galleries, traditional markets and a lively nightlife.
On Thursday, October 10 as the 2024 Africa Oil Week was wrapping up, the Chief Executive Officer (CEO) of Ghana National Petroleum Corporation (GNPC), Mr. Joseph Abuabu Dadzie; Lawyer Egbert Faibille Jnr., CEO of Petroleum Commission Ghana; Chief Director of Ministry of Energy, Mrs. Wilhelmina Asamoah; Board Chairman of Petroleum Commission, Mr Stephen Sekyere Abankwah, and Managing Director of Tema Oil Refinery, Mr Kofi Tagoe Mocumbi, joined Mr. Paul Sinclair, Director of Sankofa Events, to launch Africa Oil Week 2025, which will be held in Accra between 15th and 19th September 2025.
Lawyer Egbert Faibille Jnr., Chief Executive Officer of Petroleum Commission Ghana.
Commenting on the announcement that Accra would be hosting Africa Oil Week 2025 and beyond, the CEO of Petroleum Commission, Lawyer Egbert Faibille Jnr., told the gathering that “we are happy from Ghana to be taking over at this point. We in Ghana, in taking over the hosting of this event, Africa Oil Week, are very mindful of the huge task ahead of us. Ghana is a land of peace. Ghana is a land of happiness. Ghana is a land of stability, and we want to assure you, especially from the standpoint of the petroleum commission of the Republic of Ghana that it is not a bad decision and that at the end of it all, when the jury is out, they will perhaps be said that it was the best decision after Cape Town.
“Cape Town has hosted this, I believe, for 30 years if I’m not mistaken. So as we take over from Accra, Accra being a city of so many firms, I believe that in partnership with other stakeholders from Ghana like TOR, NPA, Ghana Gas and GNPC, we pledge to you that when you come to Accra next year in September, we’ll have an even more meaningful Africa Oil week.
“We’ll build on the successes of Cape Town. And I’m sure that when it is all over, you may, like Oliver Twist, ask for extension for another week. We are ready for you. It shows your faith in Ghana and we’re very grateful to the Africans. We’re very grateful that we remain the Commonwealth of Africa.”
Mr Joseph Abuabu Dadzie, Chief Executive Officer of Ghana Petroleum Corporation, GNPC.
Also commenting, the CEO of GNPC, Mr. Joseph Abuabu Dadzie, said, “Hosting the African Oil Week conference presents a very compelling case for investment within the various sectors in Ghana. And we do so with the spirit of collaboration because GNPC, and for that matter Ghana, has looked at the industry as collaborating efforts among NOCs in Africa.
One country cannot do it alone. If you look at the various drivers that move the industry, I don’t think any country in Africa has all it takes to be able to move the industry forward.
“So the spirit of collaboration is what we believe hosting the conference in Accra will offer all of us as a continent, not just Ghana. Obviously, hosting it in Ghana gives us some unique opportunities. It allows investors to come to Ghana and see what Ghana has to offer.
But I think on the larger scale, it offers a platform for Africa to showcase itself. It offers Africa, as an economic entity or economic body, the opportunity for the rest of the world to see what the continent offers and opportunities that investors who generally make things move to exploit that opportunities within the continent.
“On our part as GNPC, I think we will take the opportunity to promote this conference and say that we’ll work with the various stakeholders within Ghana and across the continent to ensure that, as my colleague said, this conference will be one of a sort.
“One that would usher Africa into a new era of doing business, an era where we find solutions to the challenges that we have, an era where among the various entities and among the various bodies within Africa, we have a very collaborative and very fruitful, productive collaborative approach to doing things.”
Dr. Omar Farouk Ibrahim, Secretary General of African Petroleum Producers’ Organisation, APPO.
Ghana’s President Nana Akufo-Addo has endorsed the hosting of Africa Oil Week in Accra.
“I am personally delighted to endorse the hosting of Africa Oil Week in Accra,’’ he said in a video played at the launch of the event in Cape Town.
Paul Sinclair, Director of Sankofa EventsSource: https://energynewsafrica.com
The IAEA Director General has engaged with Slovenian leaders and civil society today, in the lead up to a key referendum on expanding the country’s nuclear power programme.
Rafael Mariano Grossi spoke at a forum on nuclear energy chaired by Prime Minister Robert Golob and attended by politicians, industry, energy experts and media at the Presidential Palace in Ljubljana.
In this opening address to the forum, Mr Grossi said: “Slovenia has a fine tradition of nuclear operation. You have sophisticated technology and know-how, giving you a great advantage for future plans.”
Slovenia already has one nuclear power reactor in operation with a total net capacity of 688 MWe, which produces almost 37 per cent of the electricity for the country.
Krško Nuclear Power Plant – which Mr Grossi also visited today – started commercial operation in 1983 and received approval to extend its lifetime from 40 to 60 years in 2023.
“With Slovenia’s experience and the need for carbon free options in our energy mix, it makes eminent sense for Slovenia to continue on this path,” said the Director General.
Over recent years, to reach its climate and energy security goals, the country has also been discussing adding another reactor to the Krško site, in a project known as JEK2. A referendum on this matter will be held in November.
The JEK2 project would provide up to 2400 MWe capacity with a pressurised water technology of either GEN III or GEN III+ design, further strengthening Slovenia’s capacity to reduce emissions and meet its climate and development goals.
The Director General spoke to a number of Slovenian media outlets on the topic. “I have seen much interest here in detailed nuclear topics related to price, waste and safety. I am happy to answer any questions and appreciate these informed exchanges.
“I think the important thing is that the Slovenian society is well-informed, and that there is a good public debate about it.
“My impression is that there is widespread consensus on the reasonability of moving forward with nuclear in the country. But, of course, it will be up to the Slovenes to decide what you want to do.” Mr Grossi spoke of nuclear power’s key role supporting the clean energy transition.
“An integrated intelligent energy mix is what is needed. You cannot have full reliance on one single source of energy. We believe that renewable energy is indispensable, and it should be scaled up.
The issue here is that you also need base load energy. You cannot power a full economy simply on renewable energies.
“So, countries are choosing what kind of base load capacity they can use. Many important economies are looking into nuclear simply because they need useful instruments that will allow them to have this base load energy,” he added.
Following the political gathering this morning and a meeting with Bojan Kumer, Minister of the Environment, Climate and Energy, Mr Grossi spoke with student groups on the topic.
Source: IAEA
Fortum, the biggest power utility in Finland, is being subjected to daily attempts of cyber attacks and cyber breaches, while suspicious individuals and drone activity have been spotted near its energy assets, CEO Markus Rauramo told Reuters.
“There are different kinds of cyberattack attempts, or cyber security breach attempts, against us daily, and then less frequently, drones and different kinds of suspicious movement around our assets,” Rauramo said.
Satellite connections have been disturbed in recent months, too.
The company has asked Finnish authorities to investigate the cyber and satellite disturbance incidents, the chief executive said.
There have been similar incidents at Fortum’s energy assets in Sweden, too, Rauramo told Reuters.
So far, there hasn’t been a major impact on the company’s operations, according to Jari Stenius, head of security at Fortum.
“There has been an uptick in the frequency (of incidents) just as authorities are also reporting. The numbers are increasing, but the impact on our operations is very small,” Stenius told Reuters.
Finland’s National Bureau of Investigation told Reuters that Finnish police have opened several separate investigations into incidents near critical infrastructure.
Fortum generates electricity in the Nordic countries from hydropower, wind power, solar power, nuclear power, and combined heat and power (CHP) plants.
Last year, a total of 98% of the company’s electricity generation was carbon dioxide-free, Fortum says.
Last month, Fortum announced that it has successfully started using nuclear fuel from U.S.-based Westinghouse Electric as it seeks to replace Russian supply.
For years, Fortum’s Loviisa power plant in Finland has sourced its nuclear fuel from TVEL, a subsidiary of Russia’s Rosatom.
However, Fortum began hunting for a new fuel source two years ago after Russia invaded Ukraine. The new fuel includes uranium, the fuel assemblies, and also the enrichment process originating from Western sources.
Fortum’s two nuclear reactors in Loviisa account for around 10% of total power production in Finland.
Source: Oilprice.com
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