The Electricity Company of Ghana (ECG) increased the number of customers who own its PowerApp to about 3.1 million as of the end of 2023 from 250,000 customers in May 2022.
The Managing Director of ECG, Samuel Dubik Mansubir Mahama revealed this in a Christmas and New Year’s message in a video sighted by this portal.
“This is a very resounding remarkable feat. We couldn’t have achieved this without the support of customers,” he said.
During the last quarter of 2023, Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh revealed that ECG’s monthly collections had increased from GH¢480 million to GH¢1.1 billion due to the introduction of ECG PowerApp.
“The PowerApp is leading ECG’s drive by improving online payments. The App users have increased from 250,000 in May 2022 to 3,045,000 as of the end of October 2023. Monthly App usage is at 94%, generating an average of GH¢745 million in monthly revenue,” the Minister said.
Mr Samuel Mahama assured ECG customers that the company would be paramount in every decision of the company in 2024.
Source: https://energynewsafrica.com
Kaduna Electricity Distribution Company, one of the power distribution companies in the Republic of Nigeria, has announced the departure of the Managing Director, Yusuf Usman Yahaya.
Engr Yahaya was appointed in July 2022 in furtherance of concerted efforts by stakeholders- Nigerian Electricity Regulatory Commission, Bureau of Public Enterprises, Central Bank of Nigeria and Lender- African Export-Import Bank and Fidelity Bank-
for an intervention in Kaduna Electric alongside select electricity distribution companies in Nigeria.
In a statement, the company said Engr Yahaya led and executed a decisive ongoing turnaround programme that has brought organisational reform, commercial growth and enhanced service delivery to customers aided by extended investments in network and energy management infrastructure.
“Kaduna Electric wishes to convey its gratitude to Engr. Yusuf Usman Yahaya for his leadership and management in initiating much-needed corporate turnaround of the company and extends our best wishes in his next endeavors,” the company said.
Source: https://energynewsafrica.com
China’s oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world’s biggest crude importer, refinery and trade sources said.
The cutback in Iranian oil, which makes up some 10% of China’s crude imports and hit a record in October, could support global prices and squeeze profits at Chinese refiners.
The abrupt move, which one industry executive called a “default”, could also represent the backfiring of an October U.S. waiver on sanctions of Venezuelan oil, which diverted shipments from the South American producer to the U.S. and India, elevating prices for China as shipments dwindled.
The National Iranian Oil Co, China’s commerce ministry and the U.S. Treasury Department did not immediately respond to Reuters requests for comment.
Early last month Iranian sellers told Chinese buyers they were narrowing discounts for December and January deliveries of Iranian Light crude to between $5 and $6 a barrel below dated Brent, five traders who handle the oil or are familiar with the transactions told Reuters.
Those deals had been struck in November at discounts around $10 a barrel, the traders said.
“This is considered as an extensive default and the order to hike prices apparently came from the headquarters in Tehran, as they’re holding back supplies also to the intermediaries,” a China-based trading executive said.
An executive at a Chinese middleman that procures direct from Iran said the OPEC producer was “holding back some shipments”, leading to a “stalemate” between Chinese buyers and Iranian suppliers.
“It’s not clear how things would end,” this executive said. “Let’s wait a bit and see if refineries are willing to accept the new price.”
China has saved billions of dollars buying often deeply discounted oil from sanctioned producers Iran, Venezuela and, more recently, Russia – countries that supply almost 30% of China’s crude imports.
TEAPOTS’ SQUEEZED
It is not clear how extensive Iran’s cutbacks to China are. At least one buyer has accepted higher prices: a Shandong-based refiner bought a cargo late last month at discounts between $5.50 and $6.50 on a delivered ex-ship basis, two traders said.
The discounts could narrow further, as the latest offer heard was $4.50, the traders said. Last year’s average discount for Iranian Light, a key grade China buys with a high middle-distillates yield, was about $13, traders say.
“The buyers are still struggling to find a solution as the new prices are too high,” said a Shandong-based buyer.
“But since they have limited choices and the Iranian side is very tough, the room for price negotiations is difficult and is not favouring Chinese buyers.”
China’s smaller independent refiners, called “teapots” have become Tehran’s top clients since first buying Iranian oil in late 2019.
They replaced state-run refiners, which stopped dealing with Iran over concerns about falling afoul of U.S. sanctions.
Teapots absorb about 90% of Iran’s total oil exports, usually passed off as oil originating in Malaysia or the United Arab Emirates, trade sources say.
Amid the tussle over prices, Iran’s overall exports and China’s imports from Iran have fallen.
China imported about 1.18 million barrels per day (bpd) of Iranian oil last month, down from 1.22 million bpd in November and 23% off October’s record 1.53 million bpd, tanker tracker Vortexa Analytics reckons.
That represents the bulk of Iran’s global seaborne crude exports, which another tracker, Kpler, estimates at 1.23 million bpd for December, down from 1.52 million bpd in November.
Floating storage off Iran and nearby waters rose by about 2 million barrels to 15.5 million barrels over the past week, Kpler says.
“The Iranians want to play catch-up in prices with (Russia’s) ESPO. But they don’t fully realise the extent of sanctions on Iranian oil is different from that on Russian,” said a trading manager at an independent refiner.
Washington has sanctioned more than 180 people and entities related to Iran’s petroleum and petrochemical sectors since 2021, identifying 40 vessels as blocked property of the sanctioned entities.
The main restrictions on Russian oil have been a $60-a-barrel price cap imposed in December 2022 by the U.S. and its allies, aiming to punish Moscow over its invasion of Ukraine.
Major buyer India has mostly paid above $60 for Russian oil, hitting $85.42 in November, the highest since the Group of Seven industrial powers imposed the cap.
Source: Chen Aizhu And Muyu Xu
Uganda has filed a suit at the East Africa Court of Justice to challenge Kenya’s decision to restrain them from using the Mombasa Port to import petroleum products.
Uganda has been importing approximately 90 percent of refined petroleum products through the port of Mombasa.
The products are transported using pipelines owned and operated by the Kenya Pipeline Company Limited.
“The complete reliance and dependency on Kenyan OMCs to import and supply petroleum products to Uganda have exposed the Republic of Uganda to supply vulnerabilities resulting in an avoidable increase in fuel pump prices,” Uganda stated in court documents as reported by The Star.
In the fourth quarter of 2023, Uganda canceled its petroleum importation deal with oil marketing companies in Kenya over exorbitant prices.
It then mandated its national oil company, UNOC, to handle all petroleum importation in a bit to minimise forex exposure.
The Kenyan authorities in line with the principles and provisions of the Treaty and Protocols assured the Ugandan authorities of Kenya’s unwavering support in the implementation of the said policy.
Upon engagements with the relevant authorities in Kenya, UNOC sought to enter into a Storage and Transportation Agreement with KPC.
Consequently, UNOC was required by Kenya to meet certain regulatory requirements including obtaining an Import, Export, and Wholesale of Petroleum Products (except LPG) Licence (hereinafter referred to as “the Licence”) from EPRA to utilise the petroleum transit infrastructure in Kenya, especially the Kenya Pipeline systems in furtherance of the new Ugandan policy.
This requirement, according to Uganda, is an unnecessary hindrance to the implementation of its petroleum policy as the petroleum products were wholly transit goods and not destined for Kenya.
Uganda argued that it is a landlocked country and has the right, under the Treaty for the Establishment of the East African Community and the United Nations Convention on the Law of the Sea, to which the Republic of Kenya is signatory, of access to and from the sea and freedom of transit through the territory of Kenya by all means of transport.
Uganda wants a declaration that the actions of Kenya complained of above contravene Articles 5(1), (3)(a), (b), and (h):6(b). (d) and (f); 7(1)(a) (b); 8(1)(a) and (c); 23; 27; 28; 76(1); 89(b) and (e); 90(j); 93(c) and (d); and 130 of the Treaty for the Establishment of the East African Community and Articles 3(2), 4(2)(a), 5(1), 18 and 38 of the Protocol
“A declaration that the action of the Republic of Kenya restraining EPRA from issuing the Licence to the Applicant contravenes Articles 5(1), (3)(a), (b) and (h); 6(b) (d) and (f); 7(1) (a), (b); 8(1)(a) and (c); 23; 27, 28; 76(1); 89(b) and (e); 90(1); 93(c) and (d); and 130 of the Treaty for the Establishment of the East African Community and Articles 3(2), 4(2)(a), 5(1), 18 and 38 of the Protocol,” Uganda claims.
It also wants a declaration that the action of the Republic of Kenya prohibiting the grant of any waiver of the licensing requirements for the Licence to the Applicant contravenes Articles of the Treaty for the Establishment of the East African Community and Articles 3(2),4(2)(a),5(1), 18 and 38 of the Protocol.
A permanent injunction was issued against the Republic of Kenya for imposing unrealistic restrictions on UNOC accessing the KPC system.
Source: https://energynewsafrica.com
The Gambian Government with the support of the ECOWAS Commission has developed a national strategy document to promote and increase the consumption of Liquefied Petroleum Gas popularly known as, LPG, across the West African nation to increase access rates to clean cooking energy under the conditions of safety, sustainability, affordability and accessibility and prevent further degradation of the country’s forest reserves.
The Gambia’s national LPG consumption as a main cooking fuel stands at 1.9% of households nationally, with only 12% of households having access to at least one LPG cylinder. 97.5 % of rural households use biomass as their main cooking fuel (94% firewood and 3.5% charcoal) and in the urban areas, 31% and 52% of households uses firewood and charcoal as main cooking fuels respectively.
Data from the GamPetroleum Depot, 2021, shows that LPG consumption nationwide has witnessed growth since 2015. From a figure of 2,255 metric tonnes in 2015, the Gambia’s national LPG consumption has grown to about 5,343 metric tonnes as of 2021.
In the national strategy for the popularization of LPG, the Gambia has outlined a number of strategies to increase access rates to LPG by undertaking the following actions: reducing energy dependence on wood fuel and charcoal; improving living and economic conditions of the most disadvantaged families, developing an effective LPG Association with national recognition and clearly defined roles and mandate, full engagement with financial institutions to provide medium to long term finance for capital investments in production and business growth for entrepreneurs in the LPG and cookstoves business and soft loans to end users and developing well –established network of LPG mini filling stations and small and micro distribution in both urban and rural areas preferably no more than 500m-1km away from communities.
The Gambia hopes to raise $10,000,000 yearly to finance the strategies in the national LPG document which spans 2023 to 2050.
The Gambian national strategy for popularization of LPG was drafted by Cany Jobe, Director for Exploration and Production at the Gambia National Petroleum Corporation (GNPC), who doubled as the consultant for ECOWAS Commission for this notable project.
Speaking about the LPG strategy document, Cany Jobe underscored the need for the Gambia to make a conscious effort to implement the strategies and action plans in the document noting that if they are implemented, it will help in mitigating climate change challenges and improve the health conditions of Gambians especially women and girls.
Hon. Abdoulie Jobe ( 3rd right), Minister for Petroleum and Energy in a group photograph with participants at the workshop on National Strategy for LPG popularisation .
She said that during her study on the strategy, she learned that the long-term climate strategy of the Gambia does not include LPG.
“The alarming part of the climate change nexus underscores a call for immediate action, for the fact that we are rapidly losing our forest cover. The Department of Forestry is saying that we are losing 10,000 hectares of our forest cover every year and we have lost 97,000 hectares already. We are already marked as a Sahelian zone that is on the path to desertification. We don’t have firewood in ample supply. We don’t have charcoal in ample supply but still people are cutting down trees to make these things. So, the promotion and popularization of the LPG will help in mitigating some of these things that contribute to climate change. The inhaling of smoke could have very severe health implications. LPG has no nitric oxide emission, and it has much lower carbon dioxide emission than even the bio gas. It burns the cleanest out of all the non-renewable fuels. So, because of that, it will also prevent the high prevalence of respiratory diseases. Another health benefit is that it will remove indoor air pollution”, Cany Jobe explained.
She however stated that with all the above-mentioned benefits of LPG and contrary to popular opinion about the cost of cooking with LPG “it is cheaper at current prices than charcoal and firewood even with the price imbalance in the market. All it requires is government’s intervention to ensure there is mass awareness, promotion and popularization under the conditions of safe usage because a lot of people are scared of it, they do not know how to handle LPG”.
“At least 4 million deaths annually noted to be prematurely linked to the inhalation from the smokes and fumes and about 900 million Africans do not have access to clean cooking fuel, which includes 1.7million Gambians. Household energy contributes to 80% of Gambia’s energy needs, like cooking, heating and other domestic energy needs. 12% of Gambian households have access to an LPG stove, but actually it’s only about 2% that use it as the main cooking foil”, she highlighted.
The strategy targets to increase usage of LPG from 15% to 50% in the Gambia within the next seven years and from 50% to 100% by 2050.
Source: https://energynewsafrica.com
The Department of Energy’s Office of Petroleum Reserves has announced a solicitation for the purchase of up to 3 million barrels of crude oil for the nation’s Strategic Petroleum Reserves (SPR), the agency said in a Wednesday press release.
The solicitation is for as many as 3 million barrels of crude for delivery into the SPR in April 2024, and will go towards replenishing the nearly 300 million barrels of crude oil sold off during the current administration, ostensibly to lower retail gasoline prices for U.S. drivers.
After selling hundreds of millions of barrels of crude oil when prices were high, the Administration laid out a plan to replenish the nation’s oil stockpiles whenever crude oil prices fell below $79 per barrel.
Brent is currently trading under $78 per barrel, with WTI trading below $72.
“Today’s announcement avances the President’s commitment to safeguard and replenish this critical energy security asset.
This follows his historic release from the SPR to address the significant global supply disruption caused by Putin’s war on Ukraine and help keep the domestic market well supplied, ultimately helping to bring down prices for American consumers and businesses.
Analysis from the Department of the Treasury indicates that SPR releases last year, along with coordinated releases from international partners, reduced gasoline prices by as much as 40 cents per gallon,” the press release said in part.
Bids for the solicitation will be due on January 10, 2024.
Today’s announcement is just the latest in a string of small purchases intended to replenish the SPR—so far, about 14 million barrels in total.
The DOE must be careful to initiate its buybacks slowly enough so as to not cause oil prices to spike.
Source: Oilprice.com
The recently signed liquefied natural gas (LNG) development project in South Africa’s Mpumalanga province is a promising step on the long road to Africa’s just energy transition.
The project, being jointly developed by Kinetic Energy of Australia and the Industrial Corporation of South Africa (IDC), a national development finance institution, will capitalize on Kinetic Energy’s recent 3.1 billion cubic feet natural gas discovery in Amersfoort, Mpumalanga.
The project is expected to produce 50 megawatts (MW) of equivalent energy and eventually expand to 500 MW.
The project, which Kinetic Energy describes as South Africa’s largest onshore LNG project, exemplifies natural gas’ potential to grow the country’s economy and meet domestic energy needs.
This all comes about as South Africa works to expand its oil and gas operations in order to curb its reliance on coal and help pave the way to eventual decarbonization.
South Africa is not alone, either. As the African Energy Chamber (AEC) covers in our recently released “The State of African Energy 2024 OutlookReport,” natural gas production is on the rise both globally and in Africa.
Even more promising, our report notes that “upstream operators are now revising their strategies and aligning their future investments more in line with energy transition, and natural gas is being looked at as transition fuel.”
The African Energy Chamber will support the Invest in African Energy Conference in Paris this year organise by Energy Capital and Power.
African Energy Week will definitely be the home of Natural Gas investment in Africa.
Gas: A Logical Transition Fuel
I find it heartening that, despite calls by environmental organizations and wealthy countries to cease investment in African oil and gas projects, many of the companies actually operating in Africa appear to recognize natural gas’ value as a transition fuel.
Too long has the solution to the climate crisis been oversimplified: Decarbonization is not a goal that can be reached overnight nor without first building up the infrastructure required to support development of renewables.
Such a task is relatively simple for Western countries, which have spent centuries building their economies and infrastructure off the backs of fossil fuels.
The same cannot be said for African states, which have long lacked these same development opportunities and must now play catch-up at an accelerated pace.
Even worse, we are told to play this game of catch-up with our hands tied: to leave our natural resources in the ground while the developed nations of the world continue to exploit their natural non-renewable wealth.
We are expected to jump straight to building wind farms, solar farms, and hydroelectric dams while hundreds of millions of Africans are still living without access to electricity.
Where will the capital for such a miraculous development come from?
Who will build the foundational infrastructure needed to support it?
Developed nations are quick to promise, “We will!” but reticent to follow through on their promises.
What’s more, their foreign “aid” has frequently focused more on alleviating the symptoms of Africa’s economic and energy poverty rather than resolving the source.
With all this in mind, it is clear to me who must provide the lion’s share of capital and build the infrastructure: Africans ourselves.
And we cannot do that without tapping our own natural resources, natural gas being the most vital among them.
Its properties that burn cleaner than oil and coal, its abundance, its ease of storage and transport, and its applications in manufacturing and synthesis make natural gas the best option for Africans to establish energy security and achieve decarbonization.
Companies Leading the Way
So, again, it is encouraging to see that the AEC is not alone in our stance that natural gas production makes sense for Africa — and for energy companies.
More and more energy companies describe policies that call for pursuing energy transition measures for tomorrow while providing the natural gas to power the world today.
Look at French major TotalEnergies, which is responsible for much of the upstream activity in our continent.
Following the discovery of two huge gas fields in South Africa in 2019 and 2020, TotalEnergies is continuing its exploration and production efforts there, despite environmentalists’ efforts to block further activity.
TotalEnergies also is driving the Mozambique LNG project, considered one of Africa’s most important hydrocarbon developments.
Then there’s German independent, Wintershall Dea, which is increasing its participation in the Reggane Nord natural gas project in Algeria by 4.5%.
The company is acquiring interest from Italian utility company Edison in the project.
Wintershall Dea, which has a strong presence in North Africa, also announced first gas with its partners (Cheiron Energy, INA, and the Egyptian Gas Holding Company) at the East Damanhur block in the onshore Nile Delta earlier this fall.
I love what Wintershall Dea’s CEO and Chief Operating Officer Dawn Summers wrote about natural gas in a November opinion piece, released just before the 2023 United Nations Climate Change Conference (COP28).
“At first glance, it would seem that the gas and oil industry is merely part of the climate problem — but it will also be part of the solution,” Summers wrote.
“If gas were used instead of coal, CO2 emissions would immediately go down — by almost half.
Already today, we are decreasing the environmental impact of our activities worldwide by drastically reducing our methane emissions.
In addition, with technologies such as CO2 storage and H2 production, we are helping other sectors to decarbonise, and we aim to harness our expertise to ensure that the future energy system is more sustainable.
In short, the oil and gas industry can, must and will be part of the solution to the climate problem.”
Well said! Africa’s gas industry is part of the solution as well.
And, as our report notes, the forecast for continued natural gas projects in our continent is looking good.
Africa’s Tremendous Natural Gas Potential
Our report finds that Africa continues to hold immense natural gas potential and is positioned to not only increase its outputs but also capitalize on the underserved LNG market and meet Europe’s ongoing demand.
Our estimates show an increase from Africa’s 2023 natural gas output of about 265 billion cubic meters (bcm) to over 280 bcm by 2025.
North Africa currently drives the majority of the continent’s output, although its production is expected to remain flat throughout the rest of the 2020s.
Production ramp-up is expected through the second half of this decade as Mozambique increases its LNG output.
As new-gas start-ups across the rest of the continent come online, this trend in increased output will become further pronounced.
Nigeria and Algeria, meanwhile, are expected to drive an increased focus on LNG exports, with additional flows coming from Egypt, Equatorial Guinea, Mozambique, and waters off Senegal- Mauritania.
Africa’s natural gas sector stands poised to prepare the entire continent for eventual decarbonization, as do many of the companies operating here.
The goal of a continent fueled by renewable power cannot be achieved, however, unless the developed world also recognizes this and allows African states to transition on their own schedule, not one imposed on it by others.
Source: https://energynewsafrica.com
Nigeria has budgeted N344.10 billion (equivalent US$388,967,371.05) in 2024 to transform the country’s power sector to ensure regular power supply and also increase electricity access to unserved citizens.
Out of the budgeted amount, N336.88 billion will go into capital expenditure while the remaining N7.22 billion will go into recurrent expenditure.
The country hopes to introduce about 100 new power projects and continue with the 391 ongoing projects.
Africa’s largest economy has been struggling to keep the power sector running to keep the lights on.
With over 210 million people, it is sad to note that more than half of Nigerians do not have access to electricity supply from the national grid.
Nigeria has an energy generation capacity of about 13,000MW.
However, the country has been producing less power despite the high demand for power by industries and households.
The country’s current generation is around 4,000MW.
Nigerians have been unhappy about the situation and hope for a turnaround of the situation.
Speaking to Tunji Bolaji, Spokesperson for Chief Adebayo Adelabu, Minister for Power, he said President Bola Tinubu’s administration believes that one of the ways to further galvanise the economy is the provision of regular power supply to households and businesses in the country.
He said the current administration sees it as shameful that a country of over 200 million people is only transmitting and distributing about 4,000MW.
He said it is in line with the above that the Federal Government, through the Ministry of Power, is focusing on grid and off-grid power accessibility.
According to him, “Having mini-grids across communities in the country to serve the people like we recently had in Toro Community, Nasarawa State, where a hybrid-mini-grid was built to serve about 180,000 people in that community, is the focus of the current administration.
“We are also looking at building such mini-grids across some of our university communities, teaching hospitals and some underserved communities. Then, we are looking at renewable energy power generation across our zones. For our coastal areas, we are looking at wind energy, for our northern zones, we are looking at solar energy while in parts of the southwest and north-central where we have rivers, efforts would be on generating hydropower of about 500 kilowatts to five megawatts.
“When one takes the totality of all these, it would look as if we are starting from scratch.
“But for economic growth and industrial development, this is necessary,” he concluded.
Meanwhile, taking to X, formerly Twitter, after President Bola Ahmed Tinubu’s New Year message, Minister Adebayo Adelabu noted that the Ministry of Power and its agencies worked tirelessly to keep the lights on during the festive season.
“Our focus is now on taking decisive action to address critical challenges in the electricity sector.
“The initial three months involved diagnosis, stakeholder consultation, and strategy formulation. With a well-documented implementation plan in place, it’s now time to take decisive action targeted at enhancing distribution and transmission infrastructures,” he said.
Liquidity Challenge
According to him, the lack of liquidity remains a significant challenge in the electricity market saying, “We’re reviewing the implementation process of a cost-reflective tariff, while ensuring continued government subsidy for vulnerable members of society.”
Minister Adebayo also said closing the meter gap is imperative, and initiatives like the World Bank programmes and the Presidential Metering Initiatives would gain momentum in 2024.
He said his Ministry would intervene in distribution infrastructure, supplying transformers to communities without burdening citizens financially.
He added that rural electrification is also a priority, saying the Ministry would be focusing on solar-powered mini/micro-grids and street lights.
Transmission Infrastructure
On improving transmission infrastructure, the Minister said, “We’ve reactivated the Presidential Power Initiative (Siemens Project) to strengthen the national grid adding that Eastern and Western super grid projects will also be implemented to increase electricity supply to demand centers.”
Minister Adebayo Adelabu also disclosed that the Transmission Company of Nigeria would be reconstituted in the short term, separating Transmission services from System/Market operations.
In the medium to long term, regional grids would be established for effective management.
Power Theft And Vandalism
The Minister said tackling power theft and vandalism is paramount.
“We’ve informed the NSA of recorded cases, emphasising the need for joint efforts to protect our assets. This national responsibility requires collective action to eliminate setbacks,” he said
“As we embark on this transformative journey to bolster Nigeria’s electricity sector, we appreciate the collective effort of all stakeholders. Our commitment is unwavering, and we’re dedicated to overcoming challenges to ensure a reliable and sustainable power supply. The path ahead requires collaboration, and we urge citizens, Discos, State Electricity Boards, and private entities to join hands in achieving our shared goal. Together, we can create a resilient power infrastructure that propels economic growth and improves the lives of all Nigerians,” he stated.
Source: https://energynewsafrica.com
European companies have been relying more on Ukrainian storage to hold natural gas and withdraw it from there once winter heating demand rose.
Firms based in Europe have been withdrawing larger volumes of gas from Ukraine in recent weeks, per data from Argus Media reported by the Financial Times on Tuesday.
Larger volumes of natural gas stored in Ukraine have helped European natural gas storage levels to keep between 85% and 90% so far this winter, analysts say.
“Ukraine is playing a key role for central and eastern Europe’s security of gas supply this winter,” Natasha Fielding, Argus Media’s head of European gas pricing, told FT.
European demand has been subdued in recent months due to slowing economic activity, but Europe still needs a lot of natural gas for space heating and power generation.
The EU reached its target to fill sites to 90% of capacity months ahead of the deadline on November 1, and hit full storage levels ahead of winter season proper.
So, energy firms have been storing growing volumes of natural gas in Ukraine’s storage facilities as the EU’s sites were nearing capacity.
Despite risks of potential hits due to the war, traders have started to store natural gas at storage sites in Ukraine, taking advantage of the lower costs and high available storage capacity. The commodity can be bought anywhere and sent to Ukraine via reverse flows in pipelines from Hungary, Slovakia, and Poland.
With the EU storage nearly full, Ukraine’s available capacity could help the bloc ease gas supply concerns ahead of the winter, Brussels-based think tank Bruegel said in an analysis in July.
In October, Ukraine’s Prime Minister Denys Shmyhal said that the country was ready to allow non-resident traders to use up to half of its natural gas storage capacity.
Ukraine has 30 billion cubic meters (bcm) of underground storage capacity. As much as 12 to 15 bcm of this capacity could be allowed to be used by foreign traders to store gas, according to the prime minister.
Source: Oilprice.com
Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), turned away an oil vessel named GH-Austin, which was carrying 31.1 tonnes of gasoline laden with a high level of manganese from discharging and selling the product on the Ghanaian market.
It is not known where the gasoline was imported from but the regulator, at a media briefing in Accra, said it asked the importer to go and sell the product elsewhere since the manganese level was very high.
The action of the regulator was borne out of the recent concerns by some vehicle owners that they were frequently changing their car spark plugs due to what they suspect to be low-quality fuel being sold by some filling stations, especially in the capital, Accra.
Speaking to a section of journalists in Accra, the Chief Executive of NPA, Dr Mustapha Abdul-Hamid, said his outfit, in collaboration with the Ghana Standards Authority (GSA), reviewed the national standards which reduced the maximum allowable manganese level in regular gasoline from 18 milligrams per litre to six milligrams per litre and premium gasoline grade from 18 milligrams to two milligrams per litre.
Dr Mustapha Abdul-Hamid stated categorically that any imported products that failed to meet the revised standard would not be allowed into the country.
Source: https://energynewsafrica.com
Equatorial Guinea has reaffirmed its commitment and cooperation to the ideals and objectives of the Organization of the Petroleum Exporting Countries (OPEC) and has called on other oil-producing nations to join the group to fight for common interest amidst the threat posed by energy transition.
Equatorial Guinea joined OPEC in 2017 and its Minister for Mines and Hydrocarbons, H.E. Antonio Oburu Ondo, is the current President of OPEC.
Last week, Africa’s second-largest oil producer and OPEC member, Angola, announced its decision to withdraw from the cartel by January 1, 2024, claiming that the group is not serving the interest of Angola.
There have been mixed reactions following Angola’s decision to withdraw from the group.
Speaking few days after the news broke about Angola’s decision to withdraw from OPEC, the President of OPEC and Equatorial Guinean Minister for Mines and Hydrocarbons, H.E. Antonio Oburu Ondo, noted that the challenge of the energy transition requires a strong organisation such as OPEC/OPEC+ that promotes a pragmatic balance about the debate and proposal of solutions that take into account the condition of producers (and their peoples) with less advanced economies and less diversified production structures.
“This pragmatic balance, which implies international acknowledgment of all positioning and interests involved concerning the energy transition, can only be achieved through the existence of structures or organizations willing to depolarize the structure of advantages in the current energy transition scenario.
“The Republic of Equatorial Guinea not only believes in the role of OPEC/OPEC+ in this regard but will continue to be an important force for the continuity of such a role of OPEC/OPEC+.
“To attain better stages in terms of influence, development and economic certainty, the Republic of Equatorial Guinea invites eligible countries to be part of the vision of this great organization,” he said.
Continuing, H.E Ondo said, “Market certainty is an essential factor about the ability to succeed in economic planning or to keep producing or to be disciplined with regards to production projects. The only important factor in achieving all of the above is the stability of markets. This is what OPEC/OPEC+ embodies and this is the position of the Republic of Equatorial Guinea.”
He added that the commitment to the common goals of OPEC/OPEC+ and the common responsibility of OPEC/OPEC+ to create certainty in the improvement of people’s living are values that are implemented only through collective effort.
“The Republic of Equatorial Guinea is not only re-affirming its commitment to OPEC Membership and the values and objectives of OPEC+ but there is a need for economic logic to assert ourselves for the promotion of these objectives, as attested within the organization through the fulfillment of our commitments,” H.E Ondo said.
Source: https://energynewsafrica.com
The Deputy Chief Executive Officer in charge of Finance and Administration at the Ghana National Petroleum Corporation (GNPC), Benjamin Kwaku Acolatse Esq, has charged indigenes of Yilo Krobo in the Eastern Region, who are seeking greener pastures elsewhere, to look back and contribute their quota to improve social life and infrastructural development of their home.
According to him, the government alone cannot provide social amenities in the area, stressing that “as natives both home and away, we can contribute our quota to develop the Yilo State.”
Mr. Acolatse noted that some youth in the area who obtained good grades in junior and senior high schools and want to pursue higher education are still at home because of financial constraints, stating that “we can come together and support them.
“When you get to a certain level in life, you have to contribute to developing your country and where you were born. You noticed that there are youth who obtained 7As but are still at home because there is no one to support them to pursue higher education. We need to support them,” Mr Acolatse said when he addressed the people of Yilo Krobo during their 2nd Annual Yilo State Homecoming Summit organised by the Yilo Krobo Municipal Assembly.
“I am not saying don’t support the development of where you are living. What I’m saying is that whatever you are doing over there, channel some back home,” he advised.
The theme for the summit was: ‘Celebrating Our Modest Achievements’.
He stressed the need to set up an educational fund to support needy but brilliant students in the Yilo Krobo state.
As a native of the land, Mr. Acolatse called for unity among Krobos and other settlers in the area.
He encouraged Krobos not to shy away from properly identifying themselves as natives of Krobo land and projects the rich culture of the area wherever they find themselves.
In attendance at the summit were the Municipal Chief Executive Officer, Hon. Eric Tetteh, the Member of Parliament Hon. Albert Tetteh Nyakotey and the chiefs of Krobo lands
Source: https://energynewsafrica.com
More than 40 people have died after a tanker carrying gasoline (petrol) overturned and exploded in Totota, Bong County, in central Liberia, on Tuesday, December 26, 2023,
The incident occurred along a road in Totota, about 130km (80 miles) from the capital, Monrovia.
Liberia’s Chief Medical Officer, Francis Kateh who disclosed this on Wednesday to newsmen said it was difficult to determine the number of deaths but estimated the deaths to be about 40 people.
Dr. Kateh revealed that a pregnant woman was among the dead, adding that some of the bodies were burnt to ashes.
He told local broadcaster Super Bongese TV that more than 83 people have been admitted to the hospital after sustaining various degrees of injuries following the incident.
Patients with more serious injuries had been transferred to hospitals in Monrovia for treatment, Dr. Kateh added as carried by BBC.
Police had earlier put the death toll at 15 and said that at least 30 others were injured as locals gathered at the scene.
“There were lots of people that got burned,” said Prince B Mulbah, deputy inspector-general for the Liberia National Police.
The cause of the crash is not yet clear.
Eyewitnesses account suggests that the tanker burst into flames soon after people rushed to the site to scoop fuel from the tanker.
Video footage shows that a large number of people, including children, had gathered around the tanker after it overturned.
An eyewitness from Totota, Aaron Massaquoi, told AFP that “people climbed all on top of the truck taking the gas, while some of them had irons hitting the tanker for it to burst for them to get gas.
“People were all around the truck and the driver of the truck told them that the gas that was spilling they could take that … but some people were even using screwdrivers to pit holes on the tank”.
Some had buckets and jerrycans and others were on top of the tanker when it burst into flames.
Liberia’s President George Weah has expressed his condolences to the families of the dead, saying he found images of the tragedy “deeply disturbing”, his office said.
Mr Weah has given the health authorities his “full backing to beef up manpower and equipment where necessary in their frantic effort to save lives”, the statement adds
Source: https://energynewsafrica.com
Angola has officially written to the Organisation of the Petroleum Exporting Countries (OPEC) to withdraw from the cartel effective January 1, 2024.
This was contained in a statement issued by the Ministry for Mineral Resources, Oil and Gas.
Africa’s second-largest oil producer announced its intention to withdraw from OPEC last Thursday, December 21, 2023, at a meeting of the Council of Ministers chaired by the Angolan President,João Lourenço without formal communication to the cartel.
When this portal contacted OPEC, the group said they did not receive any official communication from Angola, explaining that they only heard the news from some news outlets.
However, the Ministry of Minerals, Oil and Gas in a statement said communication was sent to the OPEC Secretary General, Haitham al-Ghais, to formalise Angola’s decision to stop being a member of the intergovernmental organisation.
“The Government of Angola announces its decision to withdraw from the Organisation of the Petroleum Exporting Countries, with effect from 1 January 2024, under the terms of Presidential Decree 233/23, of 21 December,” MIREMPT said in a statement.
The Angolan government thanked the Organisation for the support it had given to its member countries and wished it well in carrying out its work for the stability of the oil market.
Angola has been a member of the Organisation of the Petroleum Oil Exporting Countries for more than 16 years and has fully complied with all the obligations owed to the organisation, as well as sharing in the efforts that the signatory countries of the OPEC and Non-OPEC Declaration of Cooperation (OPEC+) have made to stabilize the international oil market.
Minister Diamantino Azevedo explained that the decision “was not taken unanimously and went against Angola’s position, so the Angolan government reiterated and maintained its proposal to produce 1.180 million barrels of crude oil per day by 2024.”
Source: https://energynewsafrica.com
Dr. Kateh revealed that a pregnant woman was among the dead, adding that some of the bodies were burnt to ashes.
He told local broadcaster Super Bongese TV that more than 83 people have been admitted to the hospital after sustaining various degrees of injuries following the incident.
Patients with more serious injuries had been transferred to hospitals in Monrovia for treatment, Dr. Kateh added as carried by BBC.
Police had earlier put the death toll at 15 and said that at least 30 others were injured as locals gathered at the scene.
“There were lots of people that got burned,” said Prince B Mulbah, deputy inspector-general for the Liberia National Police.
The cause of the crash is not yet clear.
Eyewitnesses account suggests that the tanker burst into flames soon after people rushed to the site to scoop fuel from the tanker.
Video footage shows that a large number of people, including children, had gathered around the tanker after it overturned.
An eyewitness from Totota, Aaron Massaquoi, told AFP that “people climbed all on top of the truck taking the gas, while some of them had irons hitting the tanker for it to burst for them to get gas.
“People were all around the truck and the driver of the truck told them that the gas that was spilling they could take that … but some people were even using screwdrivers to pit holes on the tank”.
Some had buckets and jerrycans and others were on top of the tanker when it burst into flames.
Liberia’s President George Weah has expressed his condolences to the families of the dead, saying he found images of the tragedy “deeply disturbing”, his office said.
Mr Weah has given the health authorities his “full backing to beef up manpower and equipment where necessary in their frantic effort to save lives”, the statement adds
Source: https://energynewsafrica.com 