Ghana Expands Petroleum Products Export To The Gambia, Senegal
Ghana’s petroleum downstream regulator – National Petroleum Authority (NPA) – has granted approval to some private entitiesto export petroleum products from Ghana to The Gambia and Senegal.
This adds to the existing West African countries that Ghana exports petroleum products to, notably Mali, Niger, Burkina Faso, Cote d’Ivoire and Togo.
In the year 2023, the volume of petroleum products re-exported and transited to these neighbouring countries amounted to 385,154,100 litres.
Delivering an address at the Ghana International Petroleum Conference (GhiPCon) on the theme: “The Petroleum Industry: Building a Future for Growth, Efficiency, and Sustainability”, the NPA Boss, Dr. Abdul-Hamid, said the increase in the volume of export was proof of NPA’s outstanding successes in its effort to curb illicit fuel activities in the country.
Currently, the industry has registered over 3000 service providers with high local participation, that delivers over four million metric tonnes of petroleum products annually for Ghana and beyond.
The development has positioned the industry to become a key contributor to the growth of Ghana’s gross domestic product (GDP).
“We estimate that the sector had a monetary value of over GH¢71 billion, representing about 84% of the country’s 2023 GDP.
“In the past seven years, the industry returned an average annual value of over GH¢35 billion,” he disclosed.
He said given the dynamic nature of the downstream petroleum industry, NPA was committed to using technology and innovation to remain relevant in the sub-region by formulating and implementing innovative strategies and policies that would ensure that the industry remains efficient and profitable and at the same time ensure consumers get the best value for money.
According to him, with the new transparent automatic price adjustment formula, pricing had gradually been reformed from an annual regulated price with unpaid subsidies to bi-weekly and daily regulated price.
The NPA boss stressed that the Authority had declared zero tolerance for toxic fuel and, as a result, Ghana, Kenya , Tanzania, Uganda, Morocco presently consume low sulphur fuels with typical import at less than 50 ppm, with a roadmap for local refineries to comply.
Dr. Abdul-Hamid noted that NPA had rolled out technology-based schemes and projects, such as the petroleum marking scheme, bulk road vehicle tracking project, electronic cargo tracking system, and the enterprise relational database management software, to efficiently monitor and ensure the integrity of the quality and quantity of petroleum product delivered to consumers.
Meanwhile, the Minister of Energy, who read a speech on behalf of the guest of honour, Vice-President Dr. Mahamudu Bawumia, applauded NPA for how it strategically managed the “Gold for Oil” programme, including the current Cylinder Recirculation Model (CRM), in a manner that has boosted investors’ confidence in the sector.
According to him, these efforts, coupled with a robust policy framework, have incentivised the private sector to invest more and contribute significantly towards realising Ghana’s policy target of 50% LPG penetration by 2030.
He challenged NPA to continue to invest in infrastructure, leverage cutting-edge technology, and enhance our supply chain resilience to secure our energy future.
He said “with the geopolitical tensions to technological advancements and environmental concerns, our strategies must be robust, innovative, and adaptable.”
He also gave an assurance about government’s commitment to continue to promote and explore policies that enhance Ghanaian content, support capacity building, and create opportunities for the Ghanaian people.
This, he believes, can guarantee that the benefits of our resources are widely shared, while ensuring the development of our local workforce and businesses.
Source: https://energynewsafrica.com
Nigeria: Dangote Refinery Not Licensed Yet -Petroleum Downstream Regulator
Africa’s largest crude oil refinery Dangote Refinery has not been licensed yet, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said.
According to the regulator, the refinery was still at the pre-commissioning stage.
The Chief Executive Officer, CEO, of NMDPRA, Farouk Ahmed, disclosed this on Thursday when he responded to reports of alleged sabotaged of the Dangote refinery.
He expressed concerns over the consistency and standardization of the refinery’s output.
He noted that products coming from Dangote refinery are inferior compared to the imported products.
“Well, just like you rightly asked, there are lots of concerns about the supply of petroleum products nationwide and the claims by some media houses that we were trying to scuttle the Dangote refinery; that is not so.
“Dangote refinery is still in the pre-commissioning stage. It has not been licensed yet. We have not licensed them yet,” he said.
According to him, the demand for the Dangote refinery cannot be met by the authorities at this time hence it could lead to energy insecurity and market monopoly.
He said: “So we can not rely heavily on one refinery to feed the nation because Dangote is requesting that we should suspend or stop all importation of petroleum products, especially automotive gas oil (AGO) or jet kero, and direct all marketers to the refinery.
“Dangote refinery as well as some major refineries like Waltersmith refinery, produce between 650 to 1200 ppm. So, in terms of quality, their quality is much more inferior to the imported quality,” Mr Ahmed added.
Source: https://energynewsafrica.com
Turkey, Niger Agree To Enhance Energy, Defence Cooperation
Turkey and Niger agreed to boost cooperation on energy, mining, intelligence and defence, after the West African nation asked Western military personnel to leave and terminated the mining contracts of many Western countries.
Turkey’s Foreign Minister Hakan Fidan, along with Defence Minister Yasar Guler, Energy Minister Alparslan Bayraktar and head of the MIT intelligence agency Ibrahim Kalin visited Niger’s capital Niamey on Wednesday.
As well as their ministerial counterparts, the Turkish delegation met with Niger’s leader General Abdourahmane Tiani, who took power in July last year after the military council he leads ousted President Mohamed Bazoum and shifted the country’s allegiances.
The junta kicked out French troops and ordered the U.S. to withdraw its military personnel from the country. It also severed security pacts with the European Union.
The Turkish ministers’ visit to Niamey comes two months after Niger’s Prime Minister Ali Mahaman Lamine Zeine met with Turkish President Tayyip Erdogan in Ankara.
On Wednesday, Turkish and Niger officials discussed improving cooperation in defence intelligence, Fidan told reporters after their talks.
A Turkish defence ministry official said on Thursday that Guler discussed ways to enhance cooperation between Turkey and Niger in defence and military training.
The two countries signed a declaration of will to support and encourage Turkish companies to improve oil and natural gas fields in Niger, Turkey’s energy ministry said on Wednesday.
Niger has Africa’s highest-grade uranium ores and it is also the world’s seventh-biggest producer of uranium.
But Ankara is not seeking to buy uranium from Niger for its first nuclear power plant being built by Russia’s Rosatom at Akkuyu in Turkey’s Mediterranean region, a Turkish diplomatic source said.
Source: Reuters
Two Oil Tankers Are On Fire After Colliding In International Waters
Two large oil tankers, including one known to have carried oil from Iran and Venezuela, were on fire near Singapore early on Friday, according to Singaporean authorities which said that all crew on both vessels are accounted for.
The Maritime and Port Authority of Singapore (MPA) said it was alerted in the early morning local time on Friday to a fire onboard both a Singapore-flagged tanker, Hafnia Nile, and a São Tomé and Príncipe-flagged tanker, Ceres I, about 55 km (34 miles) northeast of Pedra Branca within Singapore’s Maritime Search and Rescue Region.
Singaporean authorities dispatched a helicopter to assist with evacuating the crews. There were a total of 22 crew onboard Hafnia Nile and 40 crew onboard Ceres I, and all the crew are accounted for, Singapore’s MPA said.
Navigation in the area has not been affected, but authorities are on alert to assist in case of oil spills.
According to TankerTracker.com, Hafnia Nile, a Panamax-sized tanker carrying oil, had knocked into the starboard bow of the empty dark fleet VLCC called CERES I in the international waters of the Riau archipelago on Friday morning, based on the tanker-tracking firm’s readings of AIS positioning data.
The tanker Ceres I is known to have shipped Iranian crude oil and Venezuelan oil to China in recent years, shipping sources told Reuters.
Ceres I was most recently known for carrying Iranian oil in March and April, per vessel-tracking data cited by Reuters.
The protection and indemnity (P&I) insurer of the tanker, built in 2001, is unknown, according to data compiled by Bloomberg.
The use of old tankers with unknown insurers is a typical characteristic of the tankers in the so-called dark fleet, or shadow fleet, engaged in trade with Iranian, Venezuelan, and Russian oil to circumvent Western sanctions.
Russia’s shadow fleet has caused more than 50 maritime accidents, insurer Allianz SE said earlier this year.
Source: Oilprice.com
Ghana: VRA Commences ISO Certification Journey
The Volta River Authority (VRA), managers of Akomsobo and Kpong Hydroelectric Power Dams has embarked on a significant journey towards operational excellence and standardization by signing a contract with Stendard, a globally recognized regulatory consultancy and technology company from Singapore.
The partnership, which will see VRA aligning its operations with a suite of ISO (International Organization for Standardization) certifications, marks a major milestone in the Authority’s commitment to quality, safety, environmental sustainability, and information security.
The agreement focuses on the implementation of four key ISO standards, namely: ISO 45001 (Occupational Health & Safety Management Systems), ISO 9001 (Quality Management System), ISO 14001 (Environmental Management System), and ISO 27001 (Information Security Management System).
The Chief Executive of VRA, Mr. Antwi-Darkwa, in his address which was read on his behalf by the Deputy Chief Executive (Engineering & Operations), Ing. Edward Obeng-Kenzo, highlighted the importance of the partnership in enhancing the VRA’s operational framework.
“The VRA ISO Certification and Standardisation project is not just about compliance; it is about improving our internal processes, enhancing quality control measures, and ultimately, delivering better power services to our stakeholders.
“This project will promote a safe working environment for all our employees and ensure that we manage and protect sensitive information systematically and in a secure manner”, he noted.
The Chief Executive Officer of Stendard, Mr. Jason Lim, expressed his enthusiasm for the partnership, noting, “We are honored to work with VRA in their pursuit of excellence.
Our expertise in ISO standard implementation will support VRA in achieving their goals and setting a benchmark for the energy sector in Ghana.”
The project, which underscores VRA’s dedication to continuous improvement, will be rolled out in phases, with Stendard providing comprehensive training and support to VRA staff to ensure successful implementation and certification.
The ISO 45001 standard will help VRA enhance its occupational health and safety management, ensuring a safer working environment for its employees.
The ISO 9001 standard will streamline VRA’s quality management processes, leading to improved service delivery and customer satisfaction.
With the implementation of ISO 14001, VRA aims to strengthen its environmental management efforts, minimizing its ecological footprint.
Finally, the ISO 27001 standard will bolster the Authority’s information security management, safeguarding critical data and infrastructure against potential threats.
Source: https://energynewsafrica.com
Prime Minister Of Albania Edi Rama Meets Eni CEO Claudio Descalzi
The Chief Executive Officer of Eni, Claudio Descalzi, met the Vice Prime Minister and Minister of Infrastructure and Energy of the Republic of Albania Belinda Balluku in Tirana, to discuss the progress of Eni’s activities in the Country, as well as possible future cooperation.
Subsequently, the two attended a meeting with the Prime Minister of the Republic of Albania, Edi Rama.
Descalzi updated the Prime Minister on Eni’s exploration activities in the country, as well as new areas of activity related to the energy transition, namely the production of agri feedstock for bio-refining, to be developed on degraded lands.
Eni has been present in Albania in the early 90s and has returned in 2019.
Source: https://energynewsafrica.com
Trinidad’s Court Upholds ConocoPhillips’ Claim Against Venezuela
Trinidad and Tobago’s High Court has reaffirmed its decision to recognize U.S. oil giant ConocoPhillips’ arbitration claim against Venezuela.
This ruling, which could potentially freeze Trinidad’s payments to Venezuela for joint natural gas projects, marks a significant development in the ongoing dispute over expropriations of oil Conoco’s oil assets by the Venezuelan government.
In May, the court’s original decision allowed ConocoPhillips to enforce a $1.33 billion claim against Venezuela by targeting compensation from joint energy ventures.
Despite Venezuela and its state-owned oil company PDVSA failing to respond by the court’s deadline, the ruling stands, opening the door for ConocoPhillips to pursue assets or payments in Trinidad.
Judge Frank Seepersad emphasized the potential impact of this ruling, stating, “The order gives the claimant a green light to enforce the judgment in Trinidad if they can establish there are assets held by the defendants or money owed to the defendant by entities in Trinidad and Tobago.”
PDVSA had previously paid ConocoPhillips about $700 million as part of a settlement agreement, but it stopped making its requisite payments in late 2019.
Since then, ConocoPhillips has spend considerable time attempting to enforce arbitration rulings against Venezuela in various Caribbean nations.
This pursuit is part of a broader effort to recoup losses from Venezuela’s nationalization of foreign-owned assets years ago.
In the United States, ConocoPhillips is among the top creditors pursuing proceeds from an auction of shares in PDVSA’s subsidiary, PDV Holding, which owns Houston-based refiner Citgo.
The reaffirmed court decision in Trinidad comes amid ongoing negotiations involving Trinidad, Venezuela, and major energy companies such as NGC, Shell, and BP.
These negotiations aim to develop offshore gas fields shared by Trinidad and Venezuela.
As part of these projects, Trinidadian entities are expected to pay PDVSA and Venezuela bonds for access to gas reserves, further complicating the financial dynamics.
Source: https://energynewsafrica.com
Nigeria: Renewable Energy Sector Attracts $2Bn Investment– Tinubu
Nigeria’s renewable energy sector has attracted over $2 billion in investment making it a fast-growing sector in West African nation’s economy.
This was disclosed by President Bola Ahmed Tinubu in a speech read for him on Wednesday during the opening session of the African Natural Resources & Energy Investment Summit, 2024, held at the State House Conference Centre, Abuja.
Represented by the Vice-President Kashim Shettima, Tinubu reiterated the commitment of his administration to continue to attract more private sector involvement in the renewable energy space.
He said, “In leveraging opportunities in the renewable energy space, Nigeria has attracted over $2 billion in investment in the renewable energy sector, making it a fast-growing sector in the economy.
” Our commitment is to continue this trajectory and attract more private sector involvement in the renewable energy space, including manufacturing locally produced solar panels and batteries.”
He, however, emphasised that discussions on the energy transition must also include the significance of the petroleum industry as a cornerstone of the nation’s economy.
“While we strive to embrace renewable and cleaner energy sources, we acknowledge that oil and gas continue to play a vital role in our energy and economic landscape,” he stated.
He highlighted strategic priorities in the sector to include the goal to attract more investment in the oil and gas industry; grow oil production to 2.1 million barrels a day by December 2024.
” This is with a view to improving investment in midstream and downstream infrastructure; tackle theft; and hold developers accountable for the highest environmental standards,”the president said..
Tinubu further restated the administration’s commitment to manage resources responsibly, minimising their ecological footprint and maximising their benefits for the nation.
Earlier, the Minister of Solid Minerals Development, Dr Dele Alake, said the government was implementing some reforms to create a more attractive environment for investors, with a focus on enhancing transparency, regulatory clarity, and investor confidence.
The plan, he explained, encompasses several key areas, including policy reforms, sustainable practices, infrastructure development, and human capital enhancement.
” These initiatives are designed to address longstanding challenges in the sector and unlock the full potential of Nigeria’s vast mineral resources.
” This summit represents a significant milestone in our collective journey toward addressing Africa’s vast natural resources and sustainable economic development,” Alake said.
Dignitaries at the summit included Sen. Mohammed Sani (APC-Niger East), the Minister of State for Environment, Dr. Ishaq Salako; Minister of State for Steel Development, Mr Uba Ahmadu, and Permanent Secretary in the Ministry of Solid Minerals Development, Dr Mary Ogbe.
Source: https://energynewsafrica.com
Ghana: There Are Huge Investment Opportunities In West Africa’s Energy Sector–Amonoo-Neizer
The Executive Secretary of the Energy Commission, Ing Oscar Amonoo-Neizer, has called on foreign investors who are looking for a place to invest in the energy sector to turn to West Africa.
According to him, the West African sub-region is endowed with different energy resources notably natural gas, solar, wind and hydro.
He said there is demand for power in the sub-region and underscored the need to harness the various energy sources to make power accessible and affordable.
Currently, about fourteen countries in West Africa are interconnected with transmission lines to make power export or trading feasible.
Speaking at a press briefing ahead of the 9th Regional Electricity Forum scheduled between 24 and 25 July,2024, in Accra, capital of Ghana, Ing Amonoo-Neizer noted that the interconnection in West Africa is a major boost for power trading.
He assured that regulators in the various ECOWAS member states have put in place regulations to guarantee security of their investment.
Source: https://energynewsafrica.com
Ghana: ERERA To Host 9th Regional Electricity Forum In Accra
The ECOWAS Regional Electricity Regulatory Authority (ERERA) will be holding its 9th Regional Electricity Forum in the capital of Ghana, Accra, between 24th and 25th July 2024.
The Regional Electricity Forum will be on the theme: “Trade Security in ECOWAS Region: the interplay between National Policies and Free Markets Principles”.
The event, which is being hosted in collaboration with Ghana’s technical regulator for electricity and natural gas, Energy Commission, and Public Utilities Regulatory Commission (PURC), the economic regulator for electricity and water utilities, is expected to attract about 50 delegates, notably power generators and regulators from ECOWAS member countries.
Established in January 2008 as a specialised institution of ECOWAS, the general mission of ERERA is to regulate cross-border electricity exchanges between ECOWAS member states, while overseeing the implementation of the necessary conditions to ensure rationalisation and reliability and contributing to setting up a regulatory and economic environment suitable for the development of the regional market.
Despite the successes ERERA has chalked up in advancing development of transmission infrastructure through the West Africa Power Pool (WAPP) to boost electricity trade within the member states, several obstacles still hinder the full development of the potential of this market.
Currently, electricity trade within the ECOWAS region is limited, with most countries relying on domestic generation to meet their electricity demand.
Challenges, such as inadequate infrastructure, regulatory barriers, and political instability, hinder the expansion of electricity trade in the region.
According to ERERA, only 8.5% of the region’s total electricity production was traded across borders.
Addressing a press conference in Accra on Wednesday, 17th July 2024, the Chairman of ERERA, Mr Kocou Larent R. Tossou, stated that the primary objective of ERERA is to ensure that all the ECOWAS member states have access to reliable and affordable electricity.
He said so far 14 countries in West Africa are interconnected, adding that “you can buy power anywhere in West Africa.”
He said the forum would be used to review actions that had been taken since the establishment of ERERA. He said the security of electricity supply in the subregion would be a key issue to be discussed.
“Our region is not easy today. Some countries are not happy with the marriage and we need to work hard and show them that they need to stay and work with the electricity market,” he said.
The Executive Secretary of Energy Commission, Ing. Oscar Amonoo-Neizer, noted that the subregion is endowed with different energy resources, such as natural gas, solar, wind and hydro.
He said the ability to harness all these energy resources together could lead to competitive energy pricing in the subregion.
He, therefore, underscored the need to fast-track the development of the region’s energy resources to ensure accessible, reliable and affordable electricity.
On his part, the Executive Secretary of the Public Utilities Regulatory Commission (PURC), Dr Ishmael Ackah, highlighted the importance of electricity and stressed the need for a reliable, affordable and accessible electricity for all.
Dr Ackah, who expressed concerns about electricity pricing, said it cost 40% less to import power from Cote d’Ivoire than producing it locally.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Ghana: NPA Boss Urges LPG Marketing Companies To Embrace Cylinder Recirculation Model Programme
The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid has urged LPG marketing companies to amend their opposition to the cylinder recirculation model (CRM) and embrace the policy.
He said CRM was being implemented in all the countries in the West African sub region, including Cote d’Ivoire, Togo, Burkina Faso and Senegal, and indicated that Ghana could not afford to continue to lag behind.
Speaking at the opening of the 2024 Ghana International Petroleum Conference (GhIPCon) in Accra on Wednesday, the NPA Boss said he had noticed the aggressive advertisements run by LPG marketing companies (LPGMCs) promoting the current LPG filling station concept.
He acknowledged that it may be within the rights of the LPGMCs to run the advertisements but urged the companies to adjust and accept the change since it would ensure safety and convenience in the distribution and use of LPG in the country.
“I urge you to reassess your opposition to the CRM policy because all across the world, very few countries still adopt the filling station concept as far as LPG distribution is concerned. All across the West African sub region Cote d”Ivoire, Burkina Faso, Senegal, Togo, everywhere else people are running the CRM model.
” I don’t think Ghana can afford to continue to lag behind. I think that it is important that we catch up with the modern trends and to adopt to the flow”, he stressed.
Dr. Abddul-Hamid said CRM had the potential to create more jobs along the value change.
He mentioned the operations of LPG bottling plants, depots, exchange points, and transportation of filled cylinders as some of the job opportunities in the CRM value chain.
The two-day conference organized by the NPA in collaboration with the Chamber of Bulk Oil Distributors (CBOD), the Association of Oil Marketing Companies (AOMC)and the Ministry of Energy was held on the theme: “‘The Petroleum Downstream: Building a Future for Growth, Efficiency, and Sustainability’.
This year’s GHIPCON, the sixth in the series, has the overall objective of addressing critical issues and exploring opportunities within the petroleum downstream sector.
Dr. Abdul-Hamid said that over the years, the petroleum downstream industry had evolved into a vibrant and dynamic industry with increased private sector participation.
“It has become a key contributor to the growth and development of the economy, we estimate that the sector had a monetary value of over GHS71 billion, representing about 8.4% of the country’s 2023 GDP.
“Over the past seven years, the industry returned an average annual value of over GHS35 billion,” he said.
The NPA Boss said as a result of improvements in the performance of the economy driven by deliberate government policy initiatives aimed at expanding the productive sectors of the economy, Ghana”s neighbouring countries such as Mali, Niger, Cote D’Ivoire, Togo and Burkina Faso had been importing petroleum products from the country”s petroleum downstream industry.
He said the volumes of petroleum products re-exported and transited to the neighbouring countries totalled 385,154,100 litres in 2023.
Dr. Abdul-Hamid said the increase in volumes of the exports was a testament of significant successes in the NPA’s efforts towards curbing illicit fuel activities in the country.
He indicated that the Authority has intensified its collaboration with the navy, marine police and immigration to continue to arrest people engaged in illicit activities.
He announced that Senegal and Gambia had also begun the importation of petroleum products from Ghana.
The Vice President, Dr. Mahamudu Bawumia, in a speech read on his behalf by the Minister of State at the Ministry of Energy, Mr. Herbert Krapa noted that since the last GhIPCon in 2022, Ghana has made significant progress towards an efficient and sustainable energy industry.
He said the government had introduced and implemented the Gold for Oil Programme, which had reduced the demand on forex reserves required for the importation of petroleum products, increased local product supply volumes, and reduced premiums from significantly, resulting in a relative reduction in the prices of petroleum products.
Besides, the Vice President said the Board of the Petroleum Hub Development Corporation had been sworn in, and a $12 billion Agreement with TCP-UIC Consortium had been signed for the development of the first phase of the Petroleum Hub project at Jomoro, in the Western Region.
He said the country had also seen the nation’s accessibility to LPG increase from 25% in 2020 to 40% at the end of 2023, and through this period, government launched the National LPG Promotion Programme with LPG cookstoves and related accessories being distributed to first-time users.
In their remarks, the CEO of the Chamber of Bulk Oil Distributors, Dr. Patrick Ofori, and the CEO of the Association of Oil Marketing Companies, Dr. Riverson Oppong affirmed their commitment to collaborate with the NPA to promote the growth and sustainability of the petroleum downstream industry
Source: https://energynewsafrica.com
UAE Considering Building A Second Nuclear Power Plant
The United Arab Emirates is considering building a second nuclear power plant to meet surging electricity demand, a government official has told Reuters.
Home to 10 million people, the UAE commissioned the first unit of the Barakah Nuclear Energy Plant in 2020, becoming the first Arab country to build a nuclear power plant.
The UAE completed the fourth unit of the power plant in 2023 with total construction costs approaching $25 billion.
The final reactor of the UAE’s only nuclear plant is set to start commercial operations in the current year
“The government is looking at this option. No final decision has been made in terms of the tender process but I can tell you that the government is actively exploring this option,” Hamad Alkaabi, permanent representative of the United Arab Emirates to the IAEA, has told Reuters.
According to Alkaabi, any new power plant would likely consist of two or four reactors.
Abu Dhabi is projecting there will be a substantial increase in electricity use over the next decade mainly driven by population growth and an expanding industrial sector.
The UAE awarded Korea Electric Power Corporation (KEPCO) a $20 billion contract in 2009 to design, build and operate Barakah Nuclear Energy Plant’s four reactors in Abu Dhabi towards the border with Saudi Arabia.
The UAE is a close security partner of the United States, having signed a nuclear energy cooperation agreement with Washington in 2009.
The country buys the fuel it needs for its reactors from the international market to avoid enriching uranium which can be used to make nuclear bombs.
The country has declared that its nuclear programme is peaceful and solely for energy purposes in a bid to lower its reliance on oil.
It’s interesting to note that the UAE sits right across the Gulf from Iran, which the US accuses of illegally enriching uranium in a bid to develop nuclear weapons.
The UAE also shares a border with Saudi Arabia, which is in talks with the United States over ambitions to develop its own civil nuclear power industry.
Source: Oilprice.com
Kenya: KenGen To Add 42.5MW Of Green Energy At Seven Forks
Kenya Electricity Generating Company (KenGen) has announced plans to install a 42.5 megawatt (MW) solar power plant along the Seven Forks dams, where the company generates most of its hydroelectricity.
The project, which will be implemented in partnership with the French Development Agency (AFD) and is expected to last for two years and four months, seeks to scale up Kenya’s green energy deployment, according a report by Capital FM.
The power producer assured that the project will provide additional capacity aimed at delivering more renewable energy to the national grid in the wake of climate change.
Energy Principal Secretary, Alex Wachira, said the additional power generated will not only scale up renewable energy but also cushion Kenyans against the rising cost of power.
“The project will provide affordable, reliable, clean energy, create employment opportunities and community engagement through Corporate Social Responsibility (CSR),” said PS Wachira.
“Indeed, Kenya and France have enjoyed longstanding cordial relations, especially in the energy sector and this cooperation continues to advance our energy infrastructure for the benefit of the great people of Kenya.”
Bertrand Willocquet, AFD Country Director, stated the 42.5MW solar power plant will complement hydroelectricity generation during the day and save water for power generation at night, particularly during drought season.
“France is keen on partnering with Kenya in the deployment of renewable energy to stem climate change for which Kenya has shown its prowess as demonstrated in the Olkaria Geothermal Field and the Seven Forks area,” said Willocquet, AFD Country Director.
KenGen Managing Director and CEO, Peter Njenga, affirmed the company is working to scale up its renewable energy capacity by adding additional electricity drawn from clean sources, moving Kenya towards a 100 percent green energy transition.
“We have made significant progress towards this goal and our partnership with AFD has been instrumental in achieving this great milestone.
“We are now ready to develop our 42.5MW solar power project, adding more renewable energy to the national grid within 28 months,” added Njenga KenGen CEO.
Source: https://energynewsafrica.com
Ghana: Petrol, Diesel Prices Hit More Than Gh¢15 Per Litre
Fuel prices have gone up in the Republic of Ghana, with both petrol and diesel selling more than Gh¢15 per litre.
As of Tuesday afternoon, Shell, Zen, Star Oil and Allied Oil had adjusted their pump prices, with petrol selling between Gh¢13.93 and Gh¢15.10 per litre while diesel is selling between Gh¢14.70 and Gh¢15.25 per litre.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
The hike in fuel prices is fuelled by the continuous depreciation of the Ghanaian cedi.
During the first pricing window which ended on July 15, a US dollar was exchanged for between Gh¢15.48 and Gh¢15.55.
Data from the National Petroleum Authority, the petroleum downstream regulator, showed that the price of crude increased to US$843.52 from US$816.61 per metric tonne while diesel price rose to Gh¢791.57 from US$778.32 per metric tonne for the second pricing window of July.
Crude oil prices also witnessed some increases during the first week of July, with Brent soaring to $87 per barrel and WTI moving up to $84 per barrel.
However, both WTI and Brent thumbled, with WTI falling to about US$82.49 per barrel while Brent went down to US$85 per barrel as of Monday.
GOIL is selling petrol (Ron 91) at Gh¢15.10 per litre while petrol (Ron 95) is sold at Gh¢16.00, with diesel being sold at Gh¢15.22 per litre.
Shell is selling petrol at Gh¢15.10 per litre while diesel is sold at Gh¢15.25 per litre.
TotalEnergies is selling petrol at Gh¢15.10 while diesel is sold at Gh¢15.20 per litre.
Star Oil is selling petrol at Gh¢13.93 per litre while diesel is sold at Gh¢14.70 per litre.
Petrosol Ghana is selling petrol at Gh¢14.60 while diesel is sold at Gh¢14.85 per litre.
Puma is selling petrol at Gh¢14.45 per litre while diesel is sold at Gh¢14.60 per litre.
Allied is selling petrol at Gh¢13.93 while diesel is sold at Gh¢14.48 per litre.
Pacific is selling both petrol and diesel at Gh¢14.39 per litre.
Engen Ghana is selling petrol at Gh¢14.95 while diesel is sold at Gh¢15.15 per litre.
Benab is selling petrol at Gh¢13.66 while diesel is sold at Gh¢14.42 per litre.
Zen is selling petrol at Gh¢13.93 per litre while diesel is sold at Gh¢14.48 per litre.
Source: https://energynewsafrica.com