By NJ Ayuk
The petroleum industry is one of the mainstays of Angola’s economy, accounting for more than a third of the country’s GDP and more than 90% of its exports. It also generates about 70% of the government’s total budget revenues and is the biggest source of foreign direct investment (FDI).
Moreover, its importance is not likely to diminish any time soon. Angolan crude oil production levels have been trending downward for some time due to the maturation of existing fields, but the country was still extracting more than 1.1 million barrels per day (bpd) as of May 2023, and it is encouraging foreign investors to search for new reserves in the untapped sections of its offshore zone. Additionally, Angola has been paying closer attention to its natural and associated gas resources and is working to increase production in a bid to take advantage of rising demand, especially in Europe.
These are the kind of circumstances that make resource nationalism — a policy approach under which governments, acting in the name of their constituents, assert and retain control over natural resources rather than allowing private-sector entities to become full stakeholders — attractive. But Angola has not succumbed to this temptation. Instead, its government, under the direction of President João Lourenço, is pursuing a remarkable reform program designed to allow Sonangol, the national oil company (NOC), to represent local interests while also working cooperatively with outside investors.
First Step: Shifting Sonangol’s Mission
The government began laying a foundation for these reforms in 2019, during Lourenço’s first term as president. In February of that year, the president signed a decree establishing the National Agency for Oil, Gas, and Biofuels (ANPG). The decree stated that ANPG would act as the country’s concessionaire for oil and gas projects, thereby making the new agency solely responsible for regulating, supervising, and monitoring activities related to oil and gas exploration and production.
In so doing, it stripped Sonangol of this function. The company had previously served as a national concessionaire while also acting as a partner or shareholder in oil and gas development projects. Once ANPG took over the role of concessionaire, though, it was no longer responsible for regulatory tasks and could focus on operational matters.
It is true that the NOC was already taking steps in this direction anyway. It had been working since mid-2017 to divest non-core units — that is, subsidiaries focusing on other types of economic activity, such as finance, real estate, travel, and food services. But it was the creation of the new agency that truly set the stage for Sonangol to function more like an oil company and less like a government bureaucracy.
Next Step: Partial Privatization
It’s no wonder, then, that the Lourenço administration took things further. In September 2021, Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, announced that Sonangol was preparing for an initial public offering (IPO), an event that would allow outside investors to become shareholders in the company.
That announcement was not immediately followed by a stock exchange listing. Instead, the NOC worked to formulate a concrete plan for partial privatization, and in September 2022, shortly after Lourenço’s election to a second term as president, the government began unveiling its new roadmap.
Initially, that roadmap was incomplete. It provided for the sale of up to 30% of Sonangol’s stock but did not specify exactly how that process would unfold. That is, it did not say when or on what terms the shares might be offered to potential buyers.
Since last September, though, Angola’s government has clarified its intentions. It has stated that the IPO will only move ahead once Sonangol meets a number of key milestones. In November 2022, Sebastião Gaspar Martins, the company’s chairman and CEO, listed the following requirements:
Bringing the share of total oil and gas output coming from fields operated by Sonangol up to 10%
Increasing domestic refining capacity to reduce the country’s dependence on imported fuels
Developing and constructing at least one petrochemical plant
Expanding and monetizing fuel distribution and marketing networks, as well as logistics networks
Increasing domestic storage capacity for petroleum products
Reducing carbon dioxide emissions by at least 20% in exploration, production, and refining operations
Launching renewable energy projects and increasing carbon capture
Martins explained that Sonangol would have to meet all of these targets in order to proceed with the IPO, as they had been formulated to make the company stronger and more self-sustaining. He said the government had not set a firm deadline for the launch of the stock issue and added that he expected the company to work toward these aims through 2027.
End Goal: A National Oil Company Focused on Core Activities
Then, in January 2023, Martins indicated that Angolan authorities had finalized the IPO roadmap. He stated that the government was planning to sell up to 30% of the NOC’s stock and noted that shares would be listed in two venues — first on the Angola Debt and Stock Exchange (BODIVA) and then on an international exchange. He reiterated that Sonangol would have to meet certain criteria prior to the listing and said he expected the company to hit its targets by 2027.
Additionally, he noted that the NOC was working to assess its projected future valuation in comparison to its current declared share capital of USD12 billion. The process will help the company assess its own value accurately in light of the changes that will be made in 2023-2027 and optimize the results of the IPO, he said.
All of these planned changes are designed to further the process of transforming Sonangol from an instrument of the state, an entity with regulatory as well as operational functions, into a corporate-style organization focused on operational matters and not bogged down by peripheral concerns. This transformation, in turn, should allow Sonangol to work more smoothly together, not just with foreign partners such as Chevron (U.S.), Shell (UK), and Azule Energy — the joint venture formed last year by BP (UK) and Eni (Italy) — but eventually with the outside investors that will gain stakes in the company via the IPO.
At the same time, though, Sonangol will continue to serve Angola’s own interests. The company will continue to be majority government-owned, and it will work to expand local capacity with respect to upstream, midstream, and downstream projects. Moreover, it will represent the country in projects involving foreign investment — as it has been doing, but more competently and efficiently, thanks to its divestment of regulatory functions and non-core assets.
The African Energy Chamber commends Angola’s government for following this course and expects Sonangol’s future achievements to serve as a testament to the foresight of the Lourenço administration.
The Bui Power Authority (BPA) has been inaugurated as an active member of the Association of Power Utilities of Africa (APUA).
The inauguration took place at the recent 57th Annual Meeting Of COEs of power utilities in Lilongwe, the capital of Malawi.
In Ghana, power sector agencies that are active members of APUA are the Volta River Authority (VRA), the Electricity Company of Ghana (ECG) and Ghana Grid Company (GRIDCo).
APUA is a continental, non-profit organisation that brings together power utilities in Africa, as well as African or foreign organisations whose activities contribute to the development of the African electricity sector.
Created in 1970 and headquartered in Cote d’Ivoire, APUA currently has about 58 members.
The mission of APUA is to bring together all of Africa’s power utilities and all stakeholders to make electricity more accessible, reliable and affordable for people.
The Director for Renewable Energy at Bui Power Authority (BPA), Wisdom Ahiataku -Togobo who represented the CEO, Samuel Kofi Dzamesi, at the annual meeting of APUA made an inaugural speech and presentation on the theme: ‘The Energy Transition: Expectations and Realities in Africa’.
Justice Barnor Kyere (Left), Deputy Director for Power Operations, Mr. Pascal Kanbonnabah (Middle), Director for commercial Services and Wisdom Ahiataku-Togobo (Right), Director for Renewable Energy, Bui Power Authority. This photograph was taking during the 57th Annual Meeting of APUA in Malawi.
Africa-focused independent oil and gas firm, Tullow and its joint venture partners have announced the successful start-up of the Jubilee South East (JSE) Project, offshore, in the Republic of Ghana, West Africa.
According to Tullow, the first production well at the Jubilee South-East has been brought onstream and expects additional two production wells and one water injector to come on onstream this year to help sustain gross Jubilee production of over 100,000 barrels of oil per day (bopd).
The company, in a statement issued on Friday and copied to energynewsafrica.com, hinted that a ceremony would be organised to celebrate First Oil in Ghana during the third quarter of 2023.
“Tullow and its partners have invested US$1 billion over the last three years on the JSE Project to drill wells and install the infrastructure needed to bring previously undeveloped reserves to production.
“The project has advanced the use of local suppliers and the majority of the complex offshore infrastructure has been fabricated by local companies in Ghana, with more than 90% local workforce.
“This demonstrates the evolution of the Ghanaian supplier base that can now support substantial elements of its oil and gas industry and is a testament to Tullow and its partners’ commitment to developing local capacity,” Tullow said.
Tullow said its CEO, Rahul Dhir, who was excited about the new development, commented that the “successful start-up at Jubilee South-East is a significant milestone for Tullow and Ghana and I would like to thank all those who have played a role in bringing this near-field Ghanaian development into production. Through our strong project management and operating capability, we have delivered a complex offshore development which is one of the key catalysts to unlock value for our business. We are well-positioned for future growth with production ramping up in the second half of 2023 that will generate significant free cash flow. This marks the start of material deleveraging as we continue our transition into a low-debt business with the financial flexibility to pursue value accretive opportunities.”
On his part, Dr Matthew Opoku Prempeh, Ghana’s Minister for Energy, also said: “At the Ministry of Energy, we are delighted by this important milestone and wish to congratulate Tullow and the Jubilee partners who have contributed in diverse ways to this journey.
“The approval of the Greater Jubilee Full Field Development Plan by the Ministry in October 2017 paved the way for investment in the development of the JSE project, which has now culminated in the delivery of the First Oil from the JSE area. The government of President Nana Addo Dankwa Akufo-Addo will continue to work with all our strategic partners to leverage our God-given resources for the ultimate benefit of our people.”
Source: https://energynewsafrica.com
Tanzania has announced plans to produce 48 Megawatts of electricity from solar in Zanzibar by 2024.
The move is in response to growing demand of electricity supply in the East African nation.
“We are aiming to solve the power shortage in the country and have reliable supply for our investors and citizens,” Mr. Joseph Juma Kilang, Principal Secretary in the Ministry of Water, Energy and Minerals, Joseph Juma Kilangi said.
Mr. Kilangi said this during the signing of the agreement between his ministry and the German company- International Energy Consultants GmbH (GOPA) for the power production, to be implemented under the ongoing Zanzibar Energy Sector Transformation and Access (ZESTA) project.
He said that the 48 megawatts of electricity that will be produced from solar power will help improve power reliability, required to promote the economy of Zanzibar.
PS Kilangi mentioned the areas that will be served by solar electricity include Makunduchi, Ubago and Matemwe.
He said the doors are still open for other investors to come and set up their investments in the energy sector because more electricity will be required.
He said that the electricity that is expected to be produced by the GOPA is a catalyst for increasing the economic activities in the country.
The PS asked the investors to speed up the project, as the electricity service is important for the country and it also brings benefits in the development of the country.
The Zanzibar Electricity Company ZECO General Manager, Engineer Mshenga Haidar Mshenga, said that through the project, they will do additional work to produce solar electricity during that period.
In addition, he promised “ZECO will ensure that the project is realised as per agreement.
The Executive Director of GOPA Mr Paul Freunscht thanked the Zanzibar government for the cooperation and accepting the project aimed at increasing productivity.
Source: https://energynewsafrica.com
Sunon Asogli Power Ghana, the largest independent power producer in the Republic of Ghana, has been nominated for European Quality Award in the power sector.
Sunon Asogli Power Ghana, a subsidiary of Shenzhen Energy Group of China, operates 560 combined cycle power plants located in Kpone-Katamanso Municipality in the Greater Accra Region.
In a letter written to Togbe Afede XIV, Director of Sunon Asogli Power Ghana, and sighted by energynewsafrica.com, Julia Chambers, Project Coordinator of Oxford Award Agency Limited wrote: “I’m writing to inform you that Sunon Asogli Power is being considered as a candidate for the prestigious Award European Quality in Power station sector.”
The European Quality Award is registered with the UK Intellectual Property Office.
The award includes several notable attributes such as a hand-made statue and certificate.
Additionally, the organisers grant a licence for European Quality to certify the high quality of products and services.
The letter said the nomination was based on specific criteria that were taken into account including national, regional and international certificates, licences, and patents, participation in national and international forums, ratings, exhibitions and conferences, cooperation with national and international organisations, competitiveness and quality goods/services.
Source: https://energynewsafrica.com
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc. in the Federal Republic of Nigeria has announced an upcoming upgrade for its Standard Transfer Specification (STS) prepaid meters to enhance efficiency and align with global standards.
The upgrade, known as Token Identification (TID) Rollover, aims to ensure the continued seamless operation of prepaid meters while maintaining customer satisfaction.
A statement from the company signed by the Managing Director, Engr Kingsley Achife said the upgrade scheduled to take effect from August 1, 2023, will involve the integration of a global software update into STS meters, making them compatible with the new TID Rollover protocol.
“This upgrade is imperative; starting from November 24, 2024, all STS meters worldwide will cease to accept old credit tokens without the necessary meter upgrade. To facilitate a smooth transition, IBEDC will provide its prepaid meter customers with Key Change Tokens (KCT) alongside their regular energy tokens when purchasing electricity” Engr. Achife said.
He further explained that the KCT serves as a special ‘reset’ token and is crucial for the successful completion of the meter upgrade process.
“Importantly, obtaining the KCT is free of charge, and customers can upgrade their meters without any impact on the current electricity tariff”
During the upgrade period, customers are advised to take note of the following important details:
Mandatory Upgrade: Customers must upgrade their prepaid meters by sequentially entering the two KCT tokens (KCT1 & KCT2) and then the energy token, as provided by IBEDC.
Expiry of Old Tokens: Effective August 1, 2023, old credit tokens will become obsolete. Customers must ensure that any unused or previously purchased energy tokens are loaded into their meters before this date.
Credit Balance Preservation: The meter upgrade process will not affect the credit unit balance on the meter. Customers can rest assured that their balance will remain intact after the upgrade.
One-Time Upgrade: The meter upgrade is a one-time process. Subsequent energy token purchases will continue as usual after the upgrade has been completed.
IBEDC is committed to supporting its customers throughout this transition. Field officers will be available to assist customers and monitor compliance. If a meter fails to load energy tokens following the KCT upgrade, customers are advised to promptly contact our customer care at 07001239999, email us at [email protected] or send messages to a WhatsApp number 07059093900.
Customers are also encouraged to visit the dedicated IBEDC webpage, ibedc.com/tid-rollover-https://www.tidrollover.com/to access comprehensive information and step-by-step instructions for upgrading their meters.
Source: https://energynewsafrica.com
Kenyan President William Ruto has commissioned a power substation in Athi River, Machakos, to boost the power supply in the East African nation.
The substation project which was executed by Kenya’s Transmission Company (KETRACO) is located barely a kilometre off the Nairobi—Namanga road in the Mavoko sub-county.
It is part of 220Kv Nairobi Ring substations and a ‘Vision 2030’ flagship project.
Speaking at a short ceremony to commission the project on Tuesday, July 11, 2023, President William Ruto said the substation would sort out power outage problems often experienced in the country.
“Power outages will no longer be experienced in the country. There will be no more power blackouts,” he promised the country.
Ruto said his administration would expand the Athi River Special Economic Zone.
“Export Processing Zone–Athi River—has employed more than 20, 000 youth. But, we intend to add 15,000 more youth to work here in Athi River,” Ruto said.
In a tweet after commissioning the project, President Ruto said: “We are investing in additional electricity supply, reinforcing the existing distribution network while minimising losses so that we can access adequate, low-carbon, reliable and affordable energy. This will unlock Kenya’s production potential and spur our economic growth.’’
The Chief Executive Officer of KETRACO, Dr Eng. John Mativo, in a tweet, also said: “The substation enables the load centre to be connected to Olkaria geothermal power, Suswa substation (connected to Lake Turkana Wind Plant and Ethiopia interconnector), Kipeto Wind plant among other sources.
“Athi River substation is displacing/minimizing the reliance on thermal generation The Substation is part of the 220kV Nairobi Ring project which includes the Isinya substation, Kimuka substation, Malaa substation and the Isinya – Suswa transmission line.
“The benefit of the 220kV Nairobi Ring project as a whole is to provide alternative substations to supply the greater Nairobi, by evacuating power from Olkaria geothermal, Lake Turkana Wind, Kipeto Wind, Ethiopia Interconnection to Nairobi and surrounding areas,’’ his tweet concluded.
Source: https://energynewsafrica.com
Ghana’s national oil company, GNPC, has offered a full scholarship to Benjamin Darko, a brilliant Senior High School graduate whose impressive 2021 West African Senior School Certificate Examination (WASSCE) result went viral online across the West African nation.
The full educational scholarship by the Ghana National Petroleum Corporation (GNPC) is to enable the beneficiary to pursue Chemical Engineering at the Kwame Nkrumah University of Science & Technology (KNUST).
Announcing the scholarship package during a meeting with Master Darko and his family at the office of the Vice Chancellor (VC) of KNUST, the Executive Director of the GNPC Foundation, Dr Dominic Eduah said the Education & Training Unit of the Foundation is offering the support to restore Master Darko’s hopes.
He added that his outfit, in collaboration with its educational partners, has initiated steps to facilitate his successful admission in the university’s next enrolment window.
Despite scoring 5As and 3Bs, the intelligent 21-year-old former Science student of Presbyterian Senior Secondary School (PRESEC), Legon, has had his desire to pursue a Medical-Science related course at the university hindered by the lack of financial support.
In keeping himself busy and to give his dreams a chance, the boy from Bepowase, a farming community in the North Akuapim Municipality of the Eastern Region, has, since 2021, taken to several menial jobs in a rather daunting bid to save for his education.
Currently working as a fuel attendant at a GOIL station in Kumasi, Darko’s predicament gained national attention after his story was highlighted in a GHOne news report that went viral on social media.
“At GNPC Foundation, we understand the challenges of many parents and students seeking advancements in education amidst tight financial constraints and we are happy to play the role of facilitating the realisation of many dreams through our scholarships and other educational intervention programmes,” Dr. Eduah commented.
Professor Rita Akosua Dickson, VC of KNUST, expressed delight in the opportunity to contribute to the moulding of Benjamin Darko when he begins his KNUST journey.
She congratulated him and advised him to stay disciplined.
Excited about the prospect of finally getting his education back on track, Benjamin Darko thanked GNPC for contributing to supporting his future and assured them his best.
Source: https://energynewsafrica.com
The Electricity Company of Ghana (ECG) has held a day’s training for third-party electrical contractors as part of ECG’s drive for safety adherence on all of its operational installations.
The training, which is the second in a series for 2023, took place at the ECG Training Centre in Tema.
The training was necessitated in a bid to bring the trainees abreast with ECG’s practices and adherence to operational and safety protocols.
Speaking about the training, the lead facilitator, Dr George Eduful, who is a General Manager of ECG’s Energy Consulting and Telco Business Directorate, said that “it has become necessary for the company to take measures to ensure that its power distribution infrastructure is designed to standards and presents no danger to the technical staff and contractors.”
He added that there is a need for “electrical contractors engaged by ECG to stay up-to-date with the latest advancements in the field while ensuring they are adhering to regulations for safe installations.”
On his part, the ECG Director of the Training Centre, Ing Aheng Owusu-Afriyie stated that the training centre aims to provide competent and practical knowledge while ensuring that safety remains paramount for all practitioners.
He indicated that the training centre provides training for several needs, mainly in technical issues.
Ing Owusu-Afriyie led journalists on a tour of the Training Center where he spoke about the various installations at the centre, and how they have been intentionally done to mimic field installations such that “trainees who come here are taken through vigorous sessions such that once they get to the field, they will be abreast with relevant skills to handle situations.”
The tour covered a substation and what is known as Lifeline.
Explaining this, Ing Owusu-Afriyie explained that the Lifeline means that when faults occur on the network, customers would not have to suffer an outage while the repair works go on.
“Instead, the power supply will be on and the technical staff will be working on it, ensuring that customers will not go suffer outages,” he said.
The ECG Training Center provides technical training and support for several players in the nation’s energy sector, including others from the West African sub-region.
The President of the Ghana Electrical Contractors Association, Mr Awal Sakib Muhammed spoke positively about the training, adding that it is meant to ensure that the practice remains sanitised to curtail incidents of possible accidents.
He praised the ECG management for leading the training programme.
He also threw caution to the public to desist from buying electrical cables from sources they are not sure of but to buy from trusted sources only.
He warned that substandard cables can cause fires, leading to possible loss of life and property.
The National Petroleum Authority (NPA), Ghana’s petroleum downstream regulator, will be given the needed support to regulate the petroleum downstream industry in the Volta Region, Dr Archibald Letsa, the Minister for the area, has pledged.
He said his support was to enable the Authority to discharge its statutory mandate effectively to ensure consumers of petroleum products get quality petroleum products at the right price and quantity.
Mr. Letsa was speaking in Ho where the new NPA’s Volta Regional Manager, Mr Godwin Yaw Konu, paid a courtesy call to him at his office.
Mr. Konu was at the office to introduce himself as the NPA Volta Regional Manager who had taken responsibility for the administration of the NPA in the Volta and Oti Regions.
The meeting also discussed several issues relative to the petroleum downstream industry in the Volta Region.
Receiving the delegation, Dr. Letsa pledged his support and that of the Volta Regional Coordinating Council to the NPA in the region to succeed in its operations.
On his part, the NPA Volta Regional Manager, Mr Godwin Yaw Konu explained the mandate of the NPA which included regulating, overseeing and monitoring the activities of the downstream petroleum industry.
Mr. Konu indicated that the NPA regional office exists to further the overall vision of the Authority in the region to ensure that economic growth and development are not hindered.
As such, the regional office would facilitate the speedy growth of the downstream petroleum industry in the Volta Region to meet the growing petroleum needs of consumers in the region, particularly those in underserved and hard-to-reach communities.
According to Mr Konu, the regional office would ensure that petroleum service providers complied with the various guidelines, rules and regulations set out for operators in the downstream petroleum industry.
The regional office would hold the various operators in the region to the prescribed standards on health, safety and environment management.
The regional office, Mr Konu indicated, prioritises the needs of petroleum consumers and protects their various interests concerning quality, quantity and pricing of petroleum products offered for sale by petroleum products retail outlets.
Mr Konu assured the Regional Minister that the NPA and by extension, the regional office operated a robust monitoring regime to protect the interest of petroleum consumers in the region.
Consequently, petroleum consumers should rest assured that they are receiving the right quantity of petroleum products, at the right price, at the right quantity, at the various retail outlets they interface with.
In attendance at the meeting were Mr Augustus Awity, Chief Director of the Volta Regional Coordinating Council, Mr Michael Kwasi Dadza, Special Assistant to the Minister and Mr Forster Honu, Public Relations Officer of the Volta Regional Coordinating Council.
Source:https://energynewsafrica.com
The Ghana National Gas Limited Company (GNGC) says its Atuabo Gas Processing Plant has resumed full operation after fixing a technical challenge which made it difficult to push the gas to WAPCo for onward transportation to power generators in Tema.
Part of the West African nation, particularly areas in Tema, experienced power outages and it was unclear what the cause was.
Last Friday, July 7, 2023, Ghana’s power transmission company, GRIDCo, in a statement, attributed the power outage to a shortfall in gas supply from the Atuabo Gas Processing Plant and WAPCo.
However, WAPCo, in a statement on Saturday, refuted the claims by GRIDCo and ECG, suggesting that they did not have any technical issues as claimed by GRIDCo and ECG.
Interestingly, Ghana National Gas Company (GNGC), in a statement issued by Head of Corporate Communications, Ernest Kofi Owusu Bempah admitted that there was a technical challenge at their end.
“The unfortunate situation was caused by an upset of our on-site power generation system, causing a temporary shutdown of the Atuabo Gas Processing Plant on Friday, 7th July 2023 from 10:00 am to 5:30 pm.
“This resulted in about 30% reduction in the gas we deliver to our downstream power and non-power customers,” he explained.
He added that the engineers and third-party contractors worked assiduously around the clock to restore normal operations in five hours.
During the five-hour outage, Ghana Gas made alternative arrangements for emergency mobile power generation units to enable natural gas to be transported to various power generation companies to mitigate the unexpected situation, it said.
“We would like to reassure the general public that the Atuabo Gas Processing Plant was restarted at 5:30 pm on Friday, 7th July 2023 and has since been in full and uninterrupted operation.
“Ghana National Gas Limited Company’s policy of continuous improvement of our processes, enables us to strengthen our business as the strategic partner of the various power generation companies, serving the people of Ghana.
“We deeply regret any inconvenience suffered by our cherished consumers,” he concluded.
Source: https://energynewsafrica.com
Nigerian Meter Manufacturers and Assemblers have intensified their demand for Federal Government to step in and cause the suspension of the bid by TCN PMU for the supply of 1,250,000 smart meters for eleven (11) Discos in the West African nation.
The World Bank is financing the procurement of the meters with a loan of US$155 million and the bid is expected to close Tuesday, July 11, 2023.
The bid has five lots and interested companies are raising Bid security of US$340,000 for lot 1, US$396,000 for lot 2, US$407,000 for lot 3, US$450,000 for lot 4 and US$385,000 for lot 5.
According to the manufacturers, the current structure of the bid would make it difficult for majority of the local companies to participate in the process.
In their view, the structure of the bid will favour only foreign companies who have the capacity to borrow from their foreign banks.
Speaking to energynewsafrica.com Ademola Agoro, Acting President of the Association of Meter Manufacturers of Nigeria said there are about 40 plus local meters with the capacity to produce about 5 million meters.
He said the local manufacturers have invested a lot in building their capacity to be able to produce meters to meet demand and wondered why the bid has been structured in a way that only favours foreign companies.
He told this portal that the local manufacturers are not saying that the bid should not be competitive but that it should be restructured to make it easier for local meter manufacturers to be able to raise the bid security.
He said instead of the current 5 lot which is why they are raising concerns, TCN PMU should expand the lot from 5 to 20, stating that this will reduce the money for bid security and, consequently allow more local meter manufacturers to participate.
He added that the bid should be restructured in such a way that any foreign company that wins can partner with a local firm for the execution of the contract.
According to him, if the bid process is allowed to continue in its current state it will mess all the gains local meter manufacturers have made.
“If this is allowed to go, it will mess up the gains. Many local meter manufacturing companies will close down and there will be loss of jobs,” he stated categorically.
He said the Association has the option of going to court to stop it but said they have shelved that option for now due to the fact that President Bola Ahmed Tinubu had been in office for few days and therefore do not want to disturb his peace.
The Association had earlier submitted a letter to Bureau of Public Procurement (BPP) requesting their intervention to suspend the bid process.
Meanwhile, Adetayo Adegbemle, Executive Director for PowerUp Nigeria, an advocacy group in Nigeria who started raising alarm about the bid process queried whether the huge amount of money in Bid security is intended to push local meter manufacturers out of business.
“It must be stated that we have had this kind of World Bank Loan with similar conditions before (2012). However, none of the Imported Meters procured under that scheme are presently still in the system.
“Again, this is a World Bank Loan, which we are definitely repaying. It is therefore imperative that we also use this to deepen our local manufacturers’ capacity,” he added
Source: https://energynewsafrica.com
Norwegian oil and gas operator, DNO ASA, has made a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea.
Preliminary evaluation of comprehensive data indicates gross recoverable resources in the range of 120-230 million making Carmen ranks as the largest discovery on the Norwegian Continental Shelf since 2013.
“Norway is the gift that keeps on giving. Carmen proves there are important discoveries still to be made and Norway’s oldest oil company, DNO, will be part of this next chapter of the country’s oil and gas story,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani.
Norway has become the largest supplier of natural gas to Europe after the continent cut ties with Russia following its war in Ukraine.
Norway’s pipeline gas exports to continental Europe have been robust in the current year, with flows averaging 313 million cu m/d.
Last month, Norway’s Aker BP (NYSE:BP) (OTCQX:AKRBF) made a much bigger than expected oil discovery in the Yggdrasil area of the North Sea, the energy company reported on Thursday.
Preliminary estimates indicate a gross recoverable volume of 40 million-90 million barrels of oil equivalent (boe), much higher than the company’s earlier projection of between 18 million and 45 million boe.
The discovery will significantly enhance Aker BP’s resource base for the Yggdrasil development, which previously was estimated at 650M gross boe.The oil discovery is located within production licenses 873 and 442: In license 873, with Equinor ASA (NYSE:EQNR) and PGNiG Upstream Norway as partners. The plan for development and operations (PDO) for this project was submitted to Norwegian authorities in December 2022, with production scheduled to start in 2027.
The North Sea is home to substantial known oil and gas reserves.
According to a report produced by the Oil and Gas Authority, known reserves of oil and gas in the North Sea at the end of 2020 amounted to 4.4 billion barrels of oil equivalent (BOE).
Source: Oilprice.com
The United Arab Emirates has announced that it will not join Saudi Arabia in making voluntary oil production cuts, claiming that the cuts by the Saudis are enough to balance the markets.
This is hardly surprising considering that the UAE has in the past argued that it should be allowed to pump more than its current OPEC quota.
The UAE has plans to ramp up its crude production capacity to five million barrels per day (bpd) by 2027, well above OPEC’s quota of 3 mb/d.
A week ago, for the second month running, Saudi Arabia extended its voluntary 1M bbl/day oil production cut for another month, this time till August.
The reduction will take the country’s production to ~9M bbl/day, the lowest level in several years.
The Kingdom has been single-handedly sacrificing sales volume in a bid to goose weak oil prices, but has so far reaped little reward, thanks to increased supply by non-OPEC producers including the United States.
The Energy Information Administration has reported that U.S. crude oil production is on track to set a record this year, up 9% Y/Y through April.
EIA has forecast total U.S. output will hit 12.61M bbl/day in the current year, above the previous record of 12.32M bbl/day set in 2019 and easily beating last year’s 11.89M bbl/day.
Although OPEC and its allies have announced cuts amounting to ~6% of 2022’s production, Rystad Energy estimates output in countries outside OPEC is making up for about two-thirds of those reductions, frustrating OPEC’s efforts to goose prices.
Improved efficiency and newer technologies have made U.S. oil companies more profitable, even at lower crude prices, with J.P. Morgan estimating that the cost of drilling and fracking in the U.S. shale has dropped by 36% since 2014.
Shale giant ExxonMobil Corp. (NYSE:XOM) is now betting that shale producers can double crude output from their existing wells by employing novel fracking technologies.
“There’s just a lot of oil being left in the ground. Fracking’s been around for a really long time, but the science of fracking is not well understood,” Exxon Chief Executive Officer Darren Woods said Thursday at the Bernstein Strategic Decisions conference.
Woods has revealed that Exxon is currently working on two specific areas to improve fracking. First off, the company is trying to frack more precisely along the well so that more oil-soaked rock gets drained.
It’s also looking for ways to keep the fracked cracks open longer so as to boost the flow of oil.
Source:Oilprice.com
“Export Processing Zone–Athi River—has employed more than 20, 000 youth. But, we intend to add 15,000 more youth to work here in Athi River,” Ruto said.
In a tweet after commissioning the project, President Ruto said: “We are investing in additional electricity supply, reinforcing the existing distribution network while minimising losses so that we can access adequate, low-carbon, reliable and affordable energy. This will unlock Kenya’s production potential and spur our economic growth.’’
The Chief Executive Officer of KETRACO, Dr Eng. John Mativo, in a tweet, also said: “The substation enables the load centre to be connected to Olkaria geothermal power, Suswa substation (connected to Lake Turkana Wind Plant and Ethiopia interconnector), Kipeto Wind plant among other sources.
“Athi River substation is displacing/minimizing the reliance on thermal generation The Substation is part of the 220kV Nairobi Ring project which includes the Isinya substation, Kimuka substation, Malaa substation and the Isinya – Suswa transmission line.
“The benefit of the 220kV Nairobi Ring project as a whole is to provide alternative substations to supply the greater Nairobi, by evacuating power from Olkaria geothermal, Lake Turkana Wind, Kipeto Wind, Ethiopia Interconnection to Nairobi and surrounding areas,’’ his tweet concluded.
Source: https://energynewsafrica.com 
Currently working as a fuel attendant at a GOIL station in Kumasi, Darko’s predicament gained national attention after his story was highlighted in a GHOne news report that went viral on social media.
“At GNPC Foundation, we understand the challenges of many parents and students seeking advancements in education amidst tight financial constraints and we are happy to play the role of facilitating the realisation of many dreams through our scholarships and other educational intervention programmes,” Dr. Eduah commented.
Professor Rita Akosua Dickson, VC of KNUST, expressed delight in the opportunity to contribute to the moulding of Benjamin Darko when he begins his KNUST journey.
She congratulated him and advised him to stay disciplined.
Excited about the prospect of finally getting his education back on track, Benjamin Darko thanked GNPC for contributing to supporting his future and assured them his best.
Source: https://energynewsafrica.com 
