The Nigerian Midstream and Downstream Petroleum Regulatory Authority has expressed its readiness to clamp down and withdraw the licence of erring marketers aiding peddling of petroleum products particularly Premium Motor Spirit in jerry cans.
The NMDPRA made this known last Friday after an indoor stakeholders’ meeting involving major retail outlet managers in the Federal Capital Territory, FCT.
The meeting was aimed at reiterating the authority’s standing regulations against illegal peddling of petroleum products particularly PMS in jerry cans.
Ogbugo Ukoha, Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, said marketers were warned that henceforth the authority would ensure strict compliance.
Mr Ukoha said it would increase its surveillance monitoring routine and clampdown on erring marketers found aiding and abetting this practice by suspending their retail licences.
“The authority is taking this decisive step to safeguard lives and properties of Nigerians that are usually at risk of fire outbreaks through improper handling of the volatile and highly flammable product.
“The authority is also mindful of the nefarious practices of cross border smuggling of the products with the use of jerry cans and must tackle such,’’ he said.
A team led by the executive directors of NMDPRA, Ukoha and Dr Mustapha Larmode in collaboration with security agencies also conducted surveillance to some outlets around the metropolis.
In the process, the team discovered a couple of illegal fuel dumps and depots around the FCT.
The perpetrators were arrested and subsequently handed over to the Department of State Security for prosecution.
Source: https://energynewsafrica.com
Chevron is already a major player in Angola’s oil sector, where it holds a market share of 26%. However, the U.S.-based major recently took a step that promises to expand its footprint further.
Specifically, it announced in mid-June that it had signed contracts for two license areas off the coast of Angola – Blocks 49 and 50, both located in an ultra-deepwater section of the Lower Congo Basin.
Just a few years ago, this deal wouldn’t have been possible.
First, the other party to the contracts — the National Oil, Gas and Biofuels Agency (ANPG) — didn’t even come into existence until 2021.
That’s when the Angolan government, led by President João Lourenço, created the agency to serve as the state oil and gas concessionaire — that is, the government body responsible for negotiating petroleum agreements, a role previously assigned to the national oil company (NOC) Sonangol.
Diamantino Pedro Azevedo, Minister of Mineral Resources and Petroleum has made it a point that Angola must not choose between economic growth and environmental protection.
He crafted solutions to energy transition, reforming the energy sector, while simultaneously increasing market certainties and creating opportunities.
For the energy companies, certainty translates into confidence, and confidence leads to more investment, more jobs and more robust growth for Angola.
Second, the type of contracts Chevron signed for Blocks 49 and 50 wasn’t available in Angola until 2020, when they were launched as part of the Angolan plan to reform and incentive investment in its oil and gas industry, an initiative that dates to 2017.
These risk service contracts (RSC), as they’re known, are designed specifically for high-risk projects that are anticipated to have trouble securing investment commitments through the usual channels — that is, competitive bidding processes and the signing of production-sharing agreements (PSA).
Under RSCs, investors provide exploration and development services in exchange for guaranteed payments.
This is in contrast to PSAs, under which investors are entitled to claim a share of production, assuming that exploration leads to commercial development.
In other words, the Angolan government’s reform program made Chevron’s deal for Blocks 49 and 50 possible. (It has also made other deals possible, including the RSCs signed in 2020 by ExxonMobil, another U.S.-based giant.)
A New Frontier
Chevron has not yet made many details of its new contracts public. It has not, for instance, revealed the value of the deals.
However, the company certainly seems to view these projects as significant. As William Lacobie, the managing director of the company’s Southern Africa Strategic Business Unit, pointed out last month, Blocks 49 and 50 represent a new frontier for Chevron subsidiary Cabinda Gulf Oil Co. Ltd (CABGOC).
Thus far, he noted, CABGOC has focused on Blocks 0 and 14, both located in well-explored sections of the Angolan offshore zone. Blocks 49 and 50 will be “CABGOC’s first operated assets outside of our existing Cabinda concession area,” he said.
But Chevron will not be the only party to benefit. Angola also stands to gain from the new contracts, which will add value to the national economy.
This value will come partly in the form of investment and partly in access to the sophisticated new technologies needed to explore (and possibly develop) the ultra-deepwater blocks.
A Sign of Reform
The benefits aren’t limited to money and technology, however. The RSCs for Blocks 49 and 50 also show that the reforms driven by Diamantino Pedro Azevedo are opening up new opportunities for the oil and gas industry.
Let me explain.
The RSCs are attractive to Chevron because they give the company an opportunity to earn money even though Blocks 49 and 50 lie within the ultra-deepwater section of the offshore zone.
These areas have yet to be fully explored, and they lack the extensive production infrastructure that supports the U.S. major’s upstream operations at Blocks 0 and 14.
In other words, the new contracts allow the company to enter a frontier province and expand its footprint in Angola without incurring too much risk.
At the same time, the deals benefit the country, as they will bring Chevron’s expertise, equipment, and technology to these ultra-deepwater sites, hopefully as a prelude to further investment in the area by other international oil companies (IOCs).
This is not something Angola could have accomplished in other ways, as Sonangol does not have the resources needed to explore and develop the blocks on its own, and a competitive bidding process might have failed to attract other investors.
The same is true of ExxonMobil’s deals for Blocks 30, 44, and 45. Without RSCs, these sites, all of which are located within another frontier province known as the Namibe Basin, might never have been able to secure investment commitments.
Other Changes for The Better
The availability of RSCs aside, Angola has made a number of other changes since 2017 in a bid to encourage IOCs to do business there.
For example, it has formulated plans for partial privatization of Sonangol. The NOC had previously functioned more as an arm of the government than as an oil company, serving as the main point of contact for all potential partners, enforcing industry laws and regulations, and operating multiple non-core subsidiaries at the behest of officials in Luanda.
Now, though, it has hived off many of its daughter companies and is preparing for an initial public offering on local and international exchanges.
Meanwhile, Angolan authorities have also established a permanent offer scheme that allows ANPG to accelerate the pace of signing contracts by negotiating directly with IOCs on certain projects rather than carrying out competitive bidding rounds.
Additionally, it has revised the tax code to offer additional incentives to investors in the petroleum sector and has reformed local content policies in ways that are designed to help IOCs work with local contractors.
Moreover, Angola has taken steps to assist the oil and gas sector less directly. For example, it now permits citizens of 98 countries to visit Angola without a visa, up from 62 previously.
This measure was ostensibly designed to facilitate tourism, but it also promises to benefit IOCs since some of the new entries on the list are countries that host the world’s biggest oil and gas operators, such as the U.S., the UK, South Korea, Japan, and India.
Altogether, these measures seem to have helped Angola weather the coronavirus (COVID-19) pandemic in 2020 and other events that disrupted global energy markets in subsequent years.
They have also allowed the country to attract investments for new projects. These include deals for construction of the Cabinda and Lobito refineries and for the expansion of liquefied natural gas (LNG) exports to Italy by 1.5 billion cubic meters (bcm) per year.
More Reform Needed
Even so, Angola has more work to do. Reform must continue.
Despite the progress made so far, Angola’s government has yet to proceed with plans to sell up to 30% of Sonangol.
It has set a deadline of 2026 for the company’s IPO, but it has also said it will only move forward after taking certain steps to establish the NOC as a vertically integrated oil and gas company that has a substantial upstream footprint and more capacity to meet domestic fuel demand, as the AEC discussed in greater detail in July 2023.
Moving forward, the government will need to ensure that these steps do not falter.
If Luanda fails to take these steps and enact further reforms, it risks losing some of the ground it has gained.
It will have a harder time staving off a long-term decline in crude oil output, boosting natural gas production, attracting funding for refining and petrochemical projects that can supply the local market with cleaner fuels, and laying the groundwork for its eventual transition to renewable energy.
Therefore, it must work to make the country more competitive, more business-friendly, and more transparent.
It should clamp down on corruption and improve oversight of its sovereign wealth fund, which handles the state’s earnings from oil and gas sales.
It ought to team up with investors to look for ways to maximize local content, and it should consider additional tax breaks for IOCs.
Moreover, it should establish a domestic value chain for the country’s natural gas production by encouraging consumption of liquid petroleum gas (LPG).
This would allow many more Angolans to gain access to clean-burning fuels and phase out the use of biofuels that contribute to deforestation such as charcoal and wood.
It’s true that Angola’s oil and gas sector has made progress since 2017, thanks to the reforms enacted by the Lourenço administration.
But the reform process should not stop here, with the signing of Chevron’s new RSCs. It should move forward so that the country has a better chance to aim for a brighter future.
Source: energychamber.org
Today Eni has started gas production from the Argo Cassiopea field, the most important gas development project in Italy.
The gas, coming from one of the four subsea wells drilled in recent months in the Strait of Sicily, has been transported through a 60 km subsea pipeline to the Gela processing plant.
Here it will be processed and then fed into the national grid, contributing to Italy’s energy needs.
The Argo Cassiopea production project, operated by Eni in joint venture with Energean, has begun production just three years after the start of works.
Production is carried out entirely under the sea, with no visual impact and near-zero emissions. A dedicated installation of 3.6 MWp of photovoltaic panels will ensure the project achieves carbon neutrality for Scope 1 and 2 emissions.
Argo Cassiopea plays a central role in Eni’s strategy to increase the use of domestic natural gas for energy security and as a low-emission source.
Argo Cassiopea’s reserves are estimated at around 10 billion cubic metres of gas, with peak annual production expected to 1.5 billion cubic meters of gas.
Source: Eni.com
Nigeria’s President Bola Tinubu has appointed Engineer Jennifer Adighije as the new Managing Director/CEO of Niger Delta Power Holding Company (NDPHC).
Engr Adighije takes over from Chiedu Ugbo, who completed his two-term tenure as MD in August 2016.
Her appointment which was confirmed in a statement released by Chief Ajuri Ngelale, Special Adviser to the President, Media & Publicity, on Monday, also announced the appointment of new management members of the power company.
The new management includes Engineer Abdullahi Kassim, Executive Director (Generation), Engineer Bello Babayo Bello, Executive Director (Networks) and Mr Emmmanuel Umeoji, Executive Director (Corporate Services)
Others are Mr Omololu Agoro, Executive Director (Finance & Accounts), Engineer Omoregie Ogbeide-Ihama, Executive Director (Strategy & Commercial), and Barrister Steven Andzenge, Executive Director (Legal Services).
According to the statement, President Tinubu expects Ms Jennifer Adighije and the new members of the management of the company to deploy their expertise and experience to drive NDPHC’s mandate of effectively managing the National Integrated Power Projects (NIPP).
Ms Jennifer Adighije, the new NDPHC Chief Executive Officer, is an experienced engineer with vast competencies across management functions in the private and public sectors.
She started her career journey at PHCN (formerly NEPA) as a Transmission Maintenance Engineer and later moved to Globacom where she worked impeccably to create cutting-edge value-added services which propelled her to Helios Towers Nigeria, as Head of the company’s project management office PMO.
She later joined the Central Bank of Nigeria at the managerial level in the Procurement Department, where she did Value Engineering and Cost Control on the bank’s capital projects.
She holds a Master’s Degree in Wireless Networks & Telecommunications from Queen Mary University of London, UK, and a Bachelor’s Degree in Electrical/Electronic Engineering from the University of Lagos, Nigeria.
She is a member of the Nigerian Society of Engineers, a registered COREN practitioner, and a life member of the Rotary Club.
Source: https://energynewsafrica.com
South Africa has withdrawn a ministerial determination to procure 2500MW of nuclear power following concerns by the public that South Africans have not been consulted on the matter.
Electricity and Energy Minister Dr Kgosientsho Ramokgopa disclosed this to the press in Pretoria last Friday, August 16, 2024.
“I have taken the decision…to withdraw the gazette to allow for that public participation to happen.
“The only time we got to know and be alerted that the process was not subjected to a public consultation process is when the [court] papers were filed and the Minister took the decision that we are withdrawing the gazette; we allow for that public participation so that the process is clean…and transparent,” he told the media.
In December last year, the Minister announced that South Africa would soon begin the procurement process for some 2500MW of nuclear energy.
At a media briefing at the time, the Minister explained that the Department of Mineral Resources and Energy (DMRE) had to satisfy a raft of rigorous National Energy Regulator of South Africa (NERSA) suspensive conditions, which took into account various factors before the go-ahead could be issued.
As a result of the withdrawal, the Minister said the process for the procurement would be delayed, according to a report by South African Government News Agency.
“Of course, there is a penalty you pay as a result of this decision [in] that you are delaying the process. But we are happy to delay the process so that we are able to allow for each and every party in the country that wants to add a voice in how we are going to procure this process for them to be given the opportunity to be able to make that submission.
“So it will add another three to six months in the process. We are happy to do that for as long as we protect the integrity of the process; for as long as we cement the transparency of the process so that there’s general public confidence in the work that we are doing.
“I want to give confidence to the South African public that we will take you every step of the way. We will carry South Africans every step of the way to preserve the integrity of any procurement process, including the nuclear procurement process, especially given its checkered history,” he explained.
Despite the withdrawal, the procurement of nuclear energy remains a government plan for the country’s energy security.
Nuclear energy forms part of government’s Integrated Resource Plan 2019’s envisaged energy mix for South Africa.
“Nuclear is part of the mix. Nuclear is part of the future but it’s important that as we go out…the procurement process must be able to stand the test of time. In this instance, it’s the ability to be able to subject itself to scrutiny.
“Let’s go back to that process; accord the public an opportunity to scrutinise, respond and then on the basis of that [Nersa] can make a determination on concurrence. Once we receive that, we’ll issue the gazette and ensure that we procure,” Dr Kgosientsho Ramokgopa said.
Source: https://energynewsfrica.com
Initiated in 2018, IRENA’s Global Network of Long-Term Energy Scenarios Practitioners (Global LTES Network) provides a global platform to exchange knowledge and good practices in the use and development of scenarios to guide the clean energy transition and promote wider and more effective use of LTES in government for energy and climate policymaking.
At the 5th edition of its annual flagship International Forum on Long-term Scenarios for the Clean Energy Transition, IRENA will once again bring together scenario practitioners in government, academia, technical institutions, international organizations, and the private sector.
The Forum will focus on alignment between energy and climate planning, the role of scenario planning for de-risking investment for the clean energy transition, scenario communication, lifestyle changes, energy security, and hydrogen integration.
The Forum will take place at the IRENA Innovation and Technology Centre in Bonn, Germany, from 9-11 September 2024 in a hybrid format (on-site and virtual), allocating only a limited number of participants on-site (priority given to the LTES members, partners, and speakers), and accepting registrations for virtual participation in the event.
The Bui Power Authority (BPA) Corporate Affairs Team has been honoured as the “Corporate Affairs Team of the Year” under the Energy Sector Category at the 2024 National Communications Awards held in Accra, the capital of Ghana.
This significant recognition was further complemented by an award to the Senior Manager, Corporate Affairs, Lawyer Akua Sakyi, who was honoured as the “Outstanding Woman in Communication Leadership of the Year”.
This year’s ceremony, which was on the theme: “Celebrating Excellence and Technology in Innovation,” took place at the Accra Marriott Hotel. The event underscored the importance of communication in advancing technology and fostering growth in various sectors.
The National Communications Awards is an annual event dedicated to celebrating excellence in communication and digitalisation across Ghana.
It serves as a platform to recognise the exceptional contributions of companies, organisations, teams and professionals who play a pivotal role in the nation’s development through effective communication and innovative digital practices.
Commenting on the award won by herself and her team, Madam Akua Sakyi, a professional with a wealth of experience in the industry, said she was proud to be acknowledged in such a meaningful way.
Akua Sakyi displaying her award
“It’s an incredible honour to receive this award. Being part of a community that understands the power of effective communication in leadership is something I deeply value. I hope this recognition serves as an inspiration to other women to pursue their respective careers with hard work and dedication and to never lose sight of their dreams,” she stressed.
Madam Akua Sakyi also expressed her heartfelt gratitude to the organisers of the National Communications Awards and to the CEO of the BPA, Hon. Ing. Samuel Kofi Ahiave Dzamesi, who has created an enabling environment for staff members to thrive in their respective areas. She pledged that, together with her team, they would continue to uphold the standards of excellence in everything they do.
These awards highlight the critical role of communication in the energy sector and the valuable contributions of women in leadership positions
Source: https://energynewsafrica.com
Ghana National Petroleum Corporation CEO Joseph A. Dadzie will discuss Ghana’s latest deepwater drilling campaigns and plans to become a regional energy trading destination at the upcoming conference
Ghana is bolstering its oil and gas industry through new deepwater drilling campaigns and a $60-billion petroleum hub project in the Western Region.
Recently-appointed Ghana National Petroleum Corporation (GNPC) CEO Joseph A. Dadzie will speak on the country’s efforts to drive production increases, grow domestic refining capacity and build a diversified national energy economy at African Energy Week: Invest in African Energy 2024 in Cape Town this November.
Ghana’s upstream oil and gas sector is currently experiencing revitalized growth, driven by new onstream projects set to enhance the country’s oil production capacity, tap into new reserves and reverse declining output.
Key projects include Tullow Oil’s deepwater Jubilee Field, which aims to bring onstream three new producer wells and two water injectors this year.
Two producer wells have already come online, increasing the field’s production to more than 100,000 barrels per day (bpd).
The ultra-deepwater Pecan Phase 1A Upstream Project – led by GNPC, Aker Energy and Lukoil, among other partners – is currently in approval stage and expected to start commercial production in 2025.
Additionally, the Ntomme Far West Development is currently in the pre-feasibility stage, with progress made towards drilling the first well.
Ghana’s downstream oil and gas sector is also expanding significantly, with key infrastructure projects such as the $700-million gas processing plant at Atuabo and the $380-million Tema VI Liquids Storage Terminal enhancing the country’s refining and storage capacities.
Moreover, the government of Ghana finalized agreements in June 2024 to develop the initial phase of the first integrated downstream petroleum hub in West Africa. To be funded by the TCP-UIC private-sector consortium, the multi-phase project includes three refineries, five petrochemical plants, storage tanks, jetties, a port and associated LNG and logistics infrastructure. The development supports Ghana’s plans to become the premier destination for energy trading in West Africa. The country signed agreements with Senegal and The Gambia in July 2024 to increase the export of petroleum products, expanding its network that already includes Mali, Niger, Burkina Faso, Ivory Coast and Togo.
Meanwhile, GNPC has been pivotal in advancing local content within Ghana’s oil and gas sector, aiming to maximize the participation of Ghanaian businesses and professionals in the industry.
The NOC has actively supported the development of local skills and capacity through partnerships with educational institutions and specialized training programs. In May 2024, GNPC Foundation opened applications for its 2024/2025 local scholarship program, which targets undergraduate and postgraduate students pursuing degrees in Ghana. Additionally, GNPC’s efforts include collaborations with IOCs to ensure technology and knowledge transfer, further embedding local expertise into the sector and directly addressing the skills gap in the industry.
“GNPC’s participation at AEW 2024 will shed valuable insight into Africa’s energy future, as Ghana represents one of the most historic producers on the continent. With new deepwater and ultra-deepwater projects in the pipeline – in addition to the multi-billion-dollar petroleum hub initiative – GNPC will enhance discussions on energy security, local content and sustainable growth for stakeholders looking to invest in African energy,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.
Source: African Energy Chamber
Kenya Electricity Generating Company PLC (KenGen), Africa’s premier green energy generator, has been inducted into the Morgan Stanley Capital International (MSCI) Frontier Markets Small Cap Index.
This significant development is expected to signal a potential surge in foreign direct investments for the NSE-listed firm, highlighting its strategic importance in the global energy sector.
This strategic capital investments milestone enhances KenGen’s visibility and attractiveness to global investors, positioning it as a key player in the frontier markets landscape.
“This development is expected to enhance shareholder value by attracting more international investment, thereby increasing liquidity and potentially driving up share prices,” said Eng. Peter Njenga, KenGen’s Managing Director and CEO.
The MSCI Frontier Markets Small Cap Index serves as a crucial benchmark for institutional investors seeking to gain exposure to emerging economies with high growth potential.
KenGen’s inclusion in this index underscores its robust financial performance, innovative energy solutions, and commitment to powering Kenya’s future sustainably.
This inclusion reaffirms KenGen’s commitment to delivering affordable and reliable energy solutions to the nation, fostering economic growth, and contributing to Kenya’s vision for a green energy future.
In statement responding to the news, the Nairobi Securities Exchange (NSE), said being part of the MSCI Frontier Markets Small Cap Index provides investors with a unique opportunity to invest in companies like KenGen which have strong growth prospects, solid governance, and a proven track record in the energy sector.
“The move will enable wider and deeper coverage of Kenya’s equity market increasing the visibility of companies listed on the NSE and enhance their attractiveness to global investors as the indices serve as benchmarks for institutional investors looking to gain exposure to frontier markets,” said Mr. Frank Mwiti, NSE Chief Executive Officer.
“This inclusion is a testament to KenGen’s consistent performance and strategic growth initiatives.
“We are thrilled to be recognized on such a prestigious global platform, which will undoubtedly attract more investment into our company and, by extension, make Kenya an attractive investment option,” said Eng. Peter Njenga.
The broader impact of KenGen’s inclusion in the MSCI Frontier Markets Small Cap Index extends beyond the company, contributing to the overall growth and stability of Kenya’s financial markets.
This move is anticipated to inspire confidence among international investors, thereby fostering an environment conducive to further foreign investment and economic development.
Source: https://energynewsafrica.com
Africa is a continent with a growing economy demanding sustainable development for its millions of inhabitants.
This is particularly true as it is such a “young continent” in terms of population age. At the same time, the continent is blessed with multiple energy opportunities to fuel this transition phase – from oil to gas to renewables, such as solar and wind, to agri-feedstock for biofuel.
Africa is now in an exciting position to address all the elements of the energy trilemma (security, affordability, and sustainability) in the framework of a just transition.
For us at Eni, being an integrated energy company that has been committed to Africa since the late 1950s, we continue to see the continent as a fascinating energy-investment frontier because of the variety of energy vectors from traditional to renewables and so we continue to invest here.
The year 2023 was very fruitful for us delivering two key projects in Sub-Saharan Africa, namely Baleine in Cote d’Ivoire and Congo LNG in the Republic of Congo, while also reaching the final investment decision (FID) on the Structures A&E project in Libya, the first major project in the country for decades.
All these were possible as we continue to solidify our fast-track development project model, capitalising on our technical expertise, such as our “development while appraisal” strategy.
The continent is fertile ground for business expansion, from established producers in North Africa to emerging territories such as Mozambique and Cote d’Ivoire where we again confirmed our exploration success with Calao in early 2024.
By adopting a neutral stance on energy vectors and technologies, we aim to foster socioeconomic development that prioritises both affordability and sustainability, leaving no one behind.
Collaborative Process
African energy development requires collaboration, with exciting opportunities for stakeholders – businesses, governments, and communities – to work together for the best possible outcomes.
Effective dialogue and shared values remain pivotal for successful collaboration. This entails ensuring access to energy at the domestic level as well as to international markets, all while maintaining its affordability and minimising carbon emissions.
For such reason, we retain that gas is emerging as the optimal vector to address these three crucial elements.
In pursuing the development of the energy industry, and its challenge in this energy transition scenario, we believe in an approach of inclusivity and mutual benefit that grows local economies –by integrating local content into development projects as well as collaborating on sustainability initiatives.
As discoveries continue to be made in new African frontiers, from Cote d’ Ivoire to the Orange basin, it’s important to bear in mind that new frontiers and mature countries both require an approach rooted in sustainability and local content, intertwined within the trajectory of growth.
From the very inception of projects, it is vital to maximise benefits and deliver tangible results for host countries.
In line with our values of dual flag model, Eni looks to integrate local-content strategies throughout the project life cycle, from exploration to production, which includes not only developing local business capabilities and workforces, but also running training initiatives in-house, or with non-profit organisations and international agencies.
Recently in Mozambique and Cote d’Ivoire, we have seen the benefits of maximising the involvement of nationals in providing goods and services, promoting the transfer of skills and technologies, bolstering employment opportunities and fostering a dynamic business environment in both countries.
We continue to be committed that our future projects such as Coral North and further Baleine phases will continue expanding local content and further strengthen these economies.
We continue uncovering business opportunities, leveraging phased and fast-tracked projects.
For example, Baleine will further increase its production with its Phase 2 start up by Q4 2024 targeting a total field production of up to 60kbopd and 70MMscf/d of gas – confirming immense potential!
This success owes much to open engagement with local authorities and contractors that stems from a shared vision from the projects’ beginning, underpinned by common goals and a win-win approach of mutual trust.
The same principles opened the way for the Calao discovery in Block CI-205 in Cote d’Ivoire – a commercial success in a petroleum play where others had previously been unable to succeed.
Eni has been present on the continent for decades, creating a strong bond based on equal partnership and dialogue, embracing the cultural diversity and uniqueness of each country.
This similar approach is promoted in our first business combination in the continent, Azule Energy – a bp and Eni company – operating in Angola who could well become a regional player in the Orange basin.
As the frontier develops, Azule could leverage on approaches that have been so successful in other geographies to continue to create real local value in Angola and regionally.
New partnership Approaches
In recent years, our business model has undergone a transformative evolution, from technical and managerial competencies to deliver projects and operational results, to a deeper understanding of our industry.
We have embraced the complexities, all while remaining committed to our hallmark: delivering the best time-to-market results (two-three years from exploration success).
Recognising the need for further innovation, we’ve unlocked new capabilities, fostering shared values between headquarters and our geographic units.
Integrated, entrepreneurial local teams are better able to articulate and boost local approaches while relying on central technical competences.
This allows us to efficiently develop solutions to fast-track projects, improve plant operations, and apply lessons learned.
This efficient shared use of resources is what attracts partners in the African energy sector, ultimately ensuring operational and business effectiveness, quick time to market, real value creation and true progress towards Net Zero.
The 30th edition of AOW: Investing in African Energy takes place from October 7-10, 2024, at the CTICC2, Cape Town.
AOW is the meeting place for the global community of African energy stakeholders committed to enabling a prosperous energy outlook for Africa.
AOW is the only event providing a complete and inclusive view of the African energy opportunities – from investment to access.
Source: By Luca Vignati, Upstream Director at Eni
An explosion at an offshore natural gas pipeline in Louisiana’s Plaquemines Parish has killed a man, the local police reported, adding fire was still burning at the site.
The explosion was reported to the Plaquemines Parish police on Saturday evening with one person reported missing at the site.
“For reasons still under investigation, an explosion and fire occurred while Nichols was believed to be working on the pipeline,” the police said in a Facebook post. “Nichols died as a result, and with the assistance of the Plaquemines Parish Sheriff’s Office, his body was recovered in the area of the incident. No other individuals were injured.”
“The pipelines have been blocked, and one remains on fire, burning the remaining natural gas in the line. Air monitor readings were conducted, and there is no threat to the public. This incident remains under investigation,” the authorities also said.
Plaquemines Parish is the home of Plaquemines LNG, a project of Venture Global, which is currently building another LNG facility in the area, Calcasieu Pass LNG, which will have an annual capacity of 10 million tons of liquefied gas.
Plaquemines LNG will have an annual capacity of up to 20 million tons, per plans.
The project received its final investment decision in 2022 and in July this year the Federal Energy Regulatory Commission gave Venture Global the go-ahead to start feeding gas into the system.
The first phase of Plaquemines LNG will have a capacity of 13.3 million tons of liquefied natural gas annually.
Buyers of the gas include Poland’s state energy company Orlen, China’s Sinopec and CNOOC, as well as Shell and French EDF.
Venture Global has also secured buyers for the second phase of the project, including Exxon, Chevron, Germany’s EnBW, Malaysia’s Petronas, and China Gas.
Shipments of gas from the Plaquemines LNG facility were scheduled to start in the middle of 2024.
Source: Oilprice.com
Ghana’s President Nana Akufo-Addo has cut the sod at Jomoro in Western Region to begin the first phase of the petroleum hub project.
The phase 1 of the project will focus on developing a 300,000-barrel per day (bpd) refinery, 90,000 bpd petrochemical plant, three million storage facility, a jetty and port infrastructure.
The project is expected to transform Ghana’s economy and create over 780,000 direct and indirect jobs by 2036.
Recently, Petroleum Hub Development Corporation (PHDC) signed a US$12 billion deal with the TCP-UIC Consortium.
The project comprises Touchstone Capital Group Holdings Ltd., UIC Energy Ghana Ltd., China Wuhan Engineering Co. Ltd., and China Construction Third Engineering Bureau Co. Ltd.
Speaking at the sod-cutting event on Monday, August 19, 2024, President Akufo-Addo said it marks a bold step to ensuring the citizenry and the industries have access to sustainable energy.
“In our strategic approach, we have divided this project into three independent phases. Each phase, upon completion, will serve as a standalone hub, forming collectively a petrochemical industrial park sprawling across some 20,000 acres. This project will complement not compete with existing refineries in Ghana and in the West African region,” he said.
President Nana Akufo-Addo said that phase one of the Petroleum Hub project goes beyond Ghana.
“It is designed to capture and sell to the African continental free trade area market, which is valued currently at some 3.4 trillion United States dollars. We envisage a facility equipped with cutting-edge technology prioritizing environmental sustainability with green buffers supporting local fauna and flora.
It will be a benchmark for crude and petroleum product pricing in Africa.”
“This project promises to create some 780,000 direct and indirect jobs, help stabilize our currency, stimulate local economic development and position Ghana as Africa’s premier petroleum and petrochemical partner. I am confident this hub will be a secure, innovative workplace, adhering to the highest industry standards.”, he explained.
Amidst the lurking concerns by locals about the project, and the need for the project to have acceptance from locals, the President directed a name change for the project, where to cite the headquarters as well as skills development for locals.
“I propose that the headquarters of the Petroleum Hub Development Corporation be located in Jomoro and that it should be renamed the Jomoro Petroleum Hub Development Corporation. To support the project, it is crucial to have a skilled workforce ready.”
“I directed the Ministry of Energy and the Board to ensure the training of some 200,000 skilled, semi-skilled, and unskilled Ghanaians in preparation for the project take-off most of whom shall come from the Jomoro enclave.“, he directed.
The President also justified the choice of the consortium and their capacity, saying, “The TCP-UIC consortium, chosen for the first phase, possesses the technical expertise and financial strength to meet our regulated timelines and standards. I urge everyone involved to leave no stone unturned in making this hub a model not only for Ghana but also for the entire world.”
“To our esteemed investors, TCP-UIC consortium, China Huadian Engineering Company Limited, China Construction Tech Engineering Bureau Company Limited, Touchstone Capital Group Holdings Limited, UIC Energy Ghana Limited, and Touchstone UIC Ghana Investments Limited, I assure you of government support in this exercise”, he noted.
The Chief Executive Officer of the Petroleum Hub, Charles Owusu on his part called for all to support the project as it is a game-changer.
“It is a game-changer in providing jobs, promoting technological transfer, and positioning Ghana as a centre for refining and trading of petroleum and petrochemical products and services. Equally balancing objectives for economic growth, environmental management, and human capital development…It is my firm belief that placing an egg on a pea is a possibility worth exploring at all times, if one aims to translate a dream into a reality.“, he said.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Authorities in Burkina Faso have announced plans to begin spilling excess water from the Bagre Dam today, Monday, August 19, 2024.
This was announced by the Power Utility of Burkina Faso, SONABEL, which announced that the decision was as a result of rising water levels upstream.
Bagre Dam is a multi-purpose dam on the White Volta located near Bagre Village in Burkina Faso.
The dam has a hydropower plant that generates about 16 megawatts of power.
Excess water that is spilled often leads to flooding in some parts of Northern Ghana and the Volta Region, which is the downstream of the dam.
In 2023, some committees along the Volta Lake in the Republic of Ghana got flooded, with Mepe being the hardest hit after the Volta River Authority (VRA) embarked on water spillage following a heavy inflow into the Akosombo hydroelectric power dam.
A letter by the White Volta Basin Secretariat of the Water Resources Commission addressed to regional ministers and NADMO directors in the Upper East, North East, and Northern regions urged residents to take the necessary precautions.
The letter, issued on August 16, noted that the upstream water level of the Bagre Dam had reached 232.82 metres and was continuing to rise, making the spillage necessary.
“Update from SONABEL this afternoon [Friday afternoon] indicates that the upstream level of the Bagre Dam is 232.82m and rising.
“Consequently, SONABEL will commence the spillage of water from the Bagre Dam by Monday, August 19, 2024,” the letter said.
The Commission further advised residents along the White Volta River to take precautionary measures to avoid any adverse impact of the spillage.
“This is to inform you of your further action relating to the flood management. We will furnish you with additional information on this matter as this becomes available to us,” the Commission added.
Source: https://energynewsafrica.com
Petrosol Ghana Limited, one of the leading indigenous oil marketing companies (OMCs) in the Republic of Ghana, has rebranded to become a fully-fledged energy company after 10 years of serving Ghanaians with the right quantity, quality and affordable petroleum products.
Now rebranded as Petrosol Platinum Energy Limited, the company was founded in March 2006 as Petroleum Solutions Limited and was providing petroleum management and consultancy services to OMCs in the West African nation.
After operating as a consultancy services company for some years, the company migrated from being a consultancy company to an OMC in 2013.
The company acquired a licence from the National Petroleum Authority (NPA) in November 2013 and commenced operations in February 2014.
With a commitment to making impact on lives and contributing to the growth and development of Ghana’s economy by offering the right quantity and quality fuel to the transportation sector, Petrosol Ghana, from a humble beginning of operating four retail stations, now has 115 retail stations across the country.
At a short ceremony at the company’s retail outlet on the Spintex Road in Accra, the Founder and Chief Executive Officer of Petrosol Platinum Energy Limited, Mr Michael Bozumbil, recounted how the company had weathered the storm to come this far.
He told the gathering that in 2015, a year after the company had acquired licence and started operating, the government took a decision to deregulate the petroleum downstream sector and this gave OMCs the opportunity to set prices based on market factors.
Michael Bozumbil, Chief Executive Officer of Petrosol Platinum Energy Limited.
According to him, this shift in policy by the government posed a significant challenge to his company since it was a new entrant into the market and had to compete with existing OMCs that could set prices lower than that of his company.
Mr Bozumbil said, “Right from the onset, we set out to be a model of excellence and didn’t want to cheat.”
Continuing, he said between 2016 and 2017, substandard fuel flooded the market at the time the company was struggling to keep afloat.
In the next phase of the business, Mr Bozumbil said the company would continue to comply with the required standards and impact lives by serving the right quality and quantity of fuel to consumers.
He used the occasion to pay glowing tribute to industry players and staffs whose dedication and hard work had brought the company to this level.
In an address, the Chief Executive Officer of the Association of Oil Marketing Companies (AOMCs), Dr Riverson Oppong, praised the CEO of Petrosol for his commitment to best practices in the industry.
Dr Oppong, who described Mr Bozumbil as a dedicated team player, urged him to work harder to push the company to become one of the top five OMCs in the country.
Dr. Riverson Oppong, CEO of Association of Oil Marketing Companies in Ghana.
The CEO of Cirrus Oil and Board Chairperson of Chamber of Bulk Oil Distributors (CBOD), Mrs. Ivy Appea Owusu, praised the Petrosol Ghana team for being a shining example in the industry and urged them to continue to inspire.
The CEO of NPA, the downstream regulator, Abdul-Hamid, described Mr Bozumbil as his standard.
“You’re my standard; you’re very honest, principled, humble ethical, and everything this country needs to move forward.
“And I salute you on your 10th anniversary and I pray that all of us, including political office holders, will have the courage to be like you,” the NPA CEO said.
