Source: https:// energynewsafrica.com Nigeria: Lagos State, Dutch Firm Sign Deal To Generate Power From Solid Waste
Lagos State in the Republic of Nigeria has taken a major step towards turning tonnes of solid waste generated in the metropolis to usable energy.
The Governor Babajide Sanwo-Olu on Monday formalised a partnership with a Dutch firm, Harvest Waste Consortium, for the construction of a high efficiency Waste-to-Energy plant on Epe landfill, which will utilise advanced technology to generate clean energy from municipal solid waste, commercial and industrial waste.
The innovative waste management solution is expected to take some 40,000 homes off the national electricity grid, as the technology would enhance energy security and diversification, generating between 60 and 75 megawatts of baseload electricity annually.
The partnership with the Amsterdam, Netherlands-based firm was at the instance of the Ministry of the Environment and Water Resources, while the agreement was signed under the supervision of the Lagos State Office of the Public Private Partnership (PPP).
Sanwo-Olu said the inadequacies of the current waste disposal practices in the State led to the sealing of the partnership to bring about innovative alternatives towards reducing environmental pollution, improving air quality, and stemming degradation and contamination of water resources that posed threats to the life quality in the State.
The governor said the partnership represented a “monumental step” forward of his administration’s waste management strategy, stressing that the move marked another milestone in the journey to build a clean, healthy, and more sustainable city.
He said: “Today marks a significant milestone in the journey towards a cleaner, healthier and more sustainable Lagos, as we formalise a partnership with Harvest Waste Consortium. This is a collaboration that promises to transform waste management and energy production in our State.
“The growth of our population signifies progress and opportunity, just as it presents challenges, particularly in managing the increasing volumes of municipal solid waste. We sought innovative and sustainable solutions through extensive consultations, visits, and a thorough exchange of information with our partners from the Netherlands.”
Sanwo-Olu said the technology had not only proven reliable but had also been tested by the European Commission as the best available technology in terms of efficiency.
“The facility will ensure that the potentially harmful effects of municipal solid waste are minimised, thereby protecting public health and the environment.
This project will not only enhance public health and well-being but also contribute to the circular economy by reducing landfill dependency and promoting recycling,” the governor said.
Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, said the partnership created a new mandate for Lagos to seek solid waste management solutions.
He said the partnership would make the State turn its burden to wealth and create new value from waste conversion. The partnership, Wahab said, is fully backed by the Dutch government.
Deputy Consul General of the Netherlands Consulate, Ms. Leonie Van der Stijl, said the partnership presented the possibility of international collaboration to solve local challenges, noting that Lagos, through the pact, became the first partner of the Dutch waste management.
The envoy gave assurance of the Dutch government’s commitment to the success of the agreement.
Managing Director of Harvest Waste Consortium, Mr. Evert Lichtenbelt, said the firm had built international reputation in managing solid waste in a proper way.
Source: https:// energynewsafrica.com
Source: https:// energynewsafrica.com Russia Seals Nuclear Power And Gas Deal With Uzbekistan
During a visit to Uzbekistan on Monday, Russian President Vladimir Putin reportedly agreed to a deal to build the first Central Asian nuclear power plant in history with Russian state-run Rosatom, Reuters reports, in a move likely designed to showcase Moscow’s adaptability under sanctions.
Domestic Russian-language and international media reported on Monday that Putin had committed $400 million to a $500-million joint investment fund in Uzbekistan, which prompted Uzbek President Shavkat Mirziyoyev to refer to the visit as heralding “the beginning of a new age in the comprehensive strategic partnership and alliance relations between our countries”, as reported by Reuters.
Kremlin documents cited by Reuters indicate that Rosatom is planning to build six nuclear reactors in Uzbekistan, targeting 55 megawatts each.
The new nuclear project, which, if pursued, would represent the first-ever nuclear power project in Central Asia, is smaller than a previous project agreed upon in 2018, according to Reuters, but which has not been finalized.
Both Kazakhstan and Uzbekistan are home to uranium deposits, making them prime ground for nuclear energy projects.
Nor is it just nuclear energy Uzbekistan is now interested in from Russia. Mirziyoyev also reportedly expressed interest in Russian gas imports, which Putin obliged with a pledge to significantly increase gas exports to the Central Asian nation.
Putin reportedly said during the meeting in Tashkent that work was “under way” to significantly raise gas export volumes to Uzbekistan to 11 billion cubic meters in 2025, Baron’s reported.
Russian gas makes its way to Uzbekistan via a pipeline in Kazakhstan that began operations last year, with an expected 2024 capacity of 3.8 billion cubic meters.
With its energy products cut out of European markets, Moscow has been reinvigorating energy and technology relations with Asian nations, beginning in its former Soviet satellite backyard, Central Asia.
Source: Oilprice.com
Nigeria: TCN Reports Collapse Of Tower On Jos-Gombe Transmission Line
The Transmission Company of Nigeria, TCN, says its tower T290, one of the four new towers erected by its contractors along the Jos – Gombe 330 Kilo Volt transmission line, collapsed during the cable stringing process.
Ndidi Mbah, TCN’S General Manager, Public Affairs in a statement in Abuja said the incident occurred at about 7 a.m. Monday (Today)
Mrs Mbah said the incident occurred while the contractor was stringing the cable on the last tower, which was supposed to enable the final joining of the power cable in time for energising of the line today.
”In spite the security challenges in the area, TCN contractors and some of our engineering staff worked tirelessly to fast-track the project, doing all that was humanly possible to meet the time-line.
” Everyday, the contractor, TCN engineers accompanied by security operatives consistently left the site by 10 pm in the night and resumed work at 6 a.m. every day.
”Constructing towers and stringing power cables at such heights is highly technical, although TCN contractors and staff have successfully completed similar projects in other parts of the country.
”The collapse of the fourth tower is a significant setback, given the extensive efforts to ensure that May 27 power restoration timeline was met, ”she said.
Mbah said that TCN contractor was currently dismantling the collapsed tower members, to enable reconstruction and final restringing of the cable.
She said it was unfortunate that while TCN is working on reconstructing and restringing the four vandalised towers, three towers along the Biu – Danboa 132kV transmission line were also vandalised with 16 spans of conductors stolen.
She said the towers, which had all collapsed, included towers T1690, T1691 and T1692.
According to her, TCN has mobilised a contractor to commence their reconstruction. This discovery was made by TCN patrol team last Friday.
”This morning also, the TCN lines patrol team discovered that tower T540 along the Makurdi – Jos 330kV double circuit transmission line has been vandalised.
”Sections of the tower have been removed, although the tower remains standing. TCN has contracted emergency repairs, to prevent its collapse.
”We reiterate our commitment to restoring normal bulk power supply through the distribution companies serving the North East and other areas affected by vandalism.
”There is, however, an urgent need for everyone to join hands with TCN in protecting our collective assets by being vigilant, and reporting any suspected acts of tower and line vandalism promptly,”she said.
Source: https:// energynewsafrica.com
Ghana: Petrosol Ghana Appoints Lawrencia Himans To Its Board
Petrosol Ghana Limited, an indigenous oil marketing company in the Republic of Ghana has appointed Lawrencia Himans, the Chief Finance Officer of the company as a member of its reconstituted Board of Directors.
She officially assumed this role on Thursday, 16th May, 2024, a statement issued and copied to energynewsafrica.com said.
Ms Lawrencia is an accomplished and highly respected accounting and finance professional, with close to two decades of experience in Corporate Finance, with 16 years spent in playing senior leadership roles in the oil and gas sector.
She is a chartered accountant and a Fellow of the Association of Chartered Certified Accountants (ACCA), UK.
In recognition of her outstanding performance and leadership, she received the Exemplary Leadership Award, 2023 at the Women in Mining Energy Awards (WiMEA).
Ms Lawrencia also received our CEO’s Special Award for Outstanding Female Leadership, during our Women in Leadership Conference organized on International Women’s Day in March 2024.
Ms Lawrencia joined PETROSOL in August 2019 as the Incoming Head of Finance & Planning and assumed the substantive role on 1st October 2019.
For the past four years, she has contributed to the sustainable growth and long-term viability of the company through the proper management of financial resources. She has overseen improvements in financial reporting, reinforced compliance with regulatory and statutory obligations and improved accounting processes.
As a result of her excellent performance, she was promoted to be the Chief Finance Officer in April, 2023.
Prior to joining PETROSOL, Ms Lawrencia served as the Head of Treasury Operations of Airtel Ghana Ltd (AirtelTigo); the Commercial Manager of Maranatha Oil Services, a Bulk Oil Import, Distribution and Export Company; the Head of Finance of Springfield Energy/Springfield E&P, formally a Bulk Oil Import, Distribution and Export Company and now an oil exploration company; the Financial Controller of UBI Petroleum (now PUMA Energy Ltd), an Oil Marketing Company; and Senior Accountant of SO Energy Ltd, an OMC and a subsidiary of Sahara Energy Resources Limited of Nigeria.
Ms Lawrencia began her career as an Audit associate with KPMG, a global audit firm, and went on to become the Finance Manager of the Private Enterprise Foundation (now Private Enterprise Federation).
Ms Lawrencia holds a Master of Business Administration (MBA) degree from Wuhan University of Technology, China, and a Bachelor of Science degree in Physics from the University of Ghana, Legon.
She has also undergone the following courses: International Financial Reporting Standards for Oil and Gas (Johannesburg), Oil Market Fundamentals (Accra), BP Third Party Traders course (London), Excel Application in Financial Management and Modeling (Accra) and Contract Administration (Accra).
Commenting on her appointment, Lawrencia said, “I am deeply honoured by the vote of confidence of the shareholders. I am thrilled by the opportunity to work with the other directors in our determination to make PETROSOL a model of excellence in the energy sector.”
Commenting on her appointment, the Chief Executive Officer of PETROSOL, Michael Bozumbil, said, “the decision to elevate Lawrencia to the Board of PETROSOL was taken in recognition of her excellent and consistent performance over the years; her unwavering commitment to our vision, which is, to be a model of excellence in the energy sector; as well as her personal demonstration of our core values of professionalism, service quality delivery, integrity, ethical conduct, empathy, respect for humanity and respect for the environment.”
He added that “Lawrencia is an amazing asset and deserves this elevation.
Though the recent 5 years have been very challenging, due to the global economic turbulence, the struggling national economy, and the myriad of challenges in the downstream petroleum sector, Lawrencia has demonstrated professionalism, focus, fortitude, diligence and integrity as she has played her role excellently by ensuring that PETROSOL successfully meets our financial obligations to all our stakeholders, namely the Ghana Revenue Authority, our customers, bankers, suppliers, regulators, staff, contractors, among others. She has what it takes to excel on the Board.”
PETROSOL Platinum Energy Ltd, formerly PETROSOL Ghana Ltd, operates over 100 fuel stations across the country and also supplies petroleum products to bulk corporate consumers.
Source: https://energynewsafrica.com
South Africa: Eskom Wants Electricity Prices Overhauled
South Africa’s power utility company, Eskom has applied to the National Electricity Regulator of South Africa (NERSA) for a review of its tariff structures before opening up South Africa’s electricity market.
According to a report by mybroadband.co.za, the power utility is preparing for the implications of its unbundling — including the National Transmission Company South Africa (NTCSA) coming into operation in July.
“We’ve learned a lot from our journey on transmission into NTCSA. We would then take that on board as we embark on the distribution unbundling.
“But the [ERA Bill] is also clear on the TSO [transmission system operator] eventually migrating towards a market.”
“It’s important that the regulator is aligned to the ERA Bill, and my understanding is it does allow the regulator to have some transition mechanisms that they would have to announce,” Eskom CFO Calib Cassim Eskom said as carried by mybroadband.co.za.
Cassim said the focus of Eskom’s new application is to help the National Energy Regulator of South Africa (NERSA) more clearly separate the revenues and costs between the different unbundled Eskom companies.
This includes determining where fixed costs and variable costs will reside between the new companies.
“If we look at our current fixed-cost/variable-cost split, it’s probably about fixed-cost 70% [and] 30% variable,” said Cassim.
“But in the tariff structure, we are charging more than 70% linked to the energy, and 30% fixed. So you see the switch that needs to happen, and it can’t happen overnight.”
Eskom tariff pain
Tariffs are a touchy topic for South Africans, who are projected to pay over five times more for electricity in 2025 than they did in 2010.
Nato Oosthuizen, partner and renewable energy expert at BDO, noted that this is due to Eskom implementing many above-inflation tariff increases while performance has declined.
Oosthuizen said pricing challenges are only set to become a bigger problem due to reduced demand for Eskom’s electricity from households, who can turn to alternative energy sources, and the introduction of Independent Power Producers to serve some of Eskom’s biggest clients.
Furthermore, a study by South African Reserve Bank economists Zaakirah Ismail and Christopher Wood last year found that electricity has become more expensive in South Africa due to Eskom’s growing debt financing costs.
Ismail and Wood found Eskom’s finance costs more than doubled in the past decade.
In contrast, said the experts, the utility’s other costs have increased slightly above inflation.
Between 2007 and 2021, Eskom spent R680 billion and achieved generally poor results on major projects — like returning three end-of-life power stations to service, developing two additional peaking plants, and constructing Medupi and Kusile.
Source: https://energynewsafrica.com
Ghana: Two Top Ghanaian Energy Reporters, Others In Russia To Tour First Floating Nuclear Power Plant
Russian state-atomic corporation, Rosatom, has invited two celebrated Ghanaian energy reporters to join other reporters from international media outlets to tour the world’s first mobile small-sized Floating Nuclear Power Plant at Pevek in the northern city of Russia.
The duo, Michael Creg Afful, Editor of energynewsafrica.com, a Pan-African independent online news portal, and Emmanuel Aboagye-Wiafe, host of Energy 101 on Accra-based Asaase Radio, departed Accra, capital of Ghana, at the weekend and have arrived safely in Russia.
With passion for promoting dissemination of credible information in the energy sector among industry players and non-industry players, Michael Creg Afful founded energynewsafrica.com in 2018 and has since increased the readership of the website from just readers from Ghana to readers from over hundred countries across the world.
He has built a network of industry players in Africa and beyond and contributed to energy discussions in Ghana.
This is the third term Michael is visiting Russia on a similar trip.
In 2022, he attended the Atom Expo with Emmanuel Aboagye-Wiafe and some selected journalists from Nigeria, Zambia, Kenya and Tanzania.
He also attended the Russia-Africa Summit in 2023 and visited the Leningrad Nuclear Power Plant in St Petersburg.
While in Russia, Michael and the team of reporters would also visit some historical sites as well as Atom Class and the Port of Pevek beginning Tuesday, 28th May, 2024.
Named after 18th-century Russian scientist, Mikhail Lomonosov, the Akademik Lomonosov is equipped with two KLT-40S reactor systems each with a 35MWe capacity similar to those used on icebreakers.
Designed by Russian nuclear scientists and naval architects, the vessel is 144 metres long and 30 metres wide, and has a displacement of 21,000 tonnes.
Commenting, Michael Creg Afful, said: “This is rare. For me to visit a land-based nuclear power plant in St. Petersburg, Russia and now visiting the world’s first floating nuclear power plant in Pevek is a great opportunity.’’
Source: https://energynewsafrica.com
This is the third term Michael is visiting Russia on a similar trip.
In 2022, he attended the Atom Expo with Emmanuel Aboagye-Wiafe and some selected journalists from Nigeria, Zambia, Kenya and Tanzania.
He also attended the Russia-Africa Summit in 2023 and visited the Leningrad Nuclear Power Plant in St Petersburg.
While in Russia, Michael and the team of reporters would also visit some historical sites as well as Atom Class and the Port of Pevek beginning Tuesday, 28th May, 2024.
Named after 18th-century Russian scientist, Mikhail Lomonosov, the Akademik Lomonosov is equipped with two KLT-40S reactor systems each with a 35MWe capacity similar to those used on icebreakers.
Designed by Russian nuclear scientists and naval architects, the vessel is 144 metres long and 30 metres wide, and has a displacement of 21,000 tonnes.
Commenting, Michael Creg Afful, said: “This is rare. For me to visit a land-based nuclear power plant in St. Petersburg, Russia and now visiting the world’s first floating nuclear power plant in Pevek is a great opportunity.’’
Source: https://energynewsafrica.com Nigeria: We’ll End Gas Flaring By 2030 — Environment Minister
Nigeria has reaffirmed its commitment to end gas flaring in the country by 2030.
The West African nation’s Minister of State for Environment, Dr Iziaq Salako, stated this in Abuja at the inaugural workshop on quarterly reporting of utilisation efforts and initiatives toward the reduction of carbon footprints (emissions) in Nigeria.
According to him, available data showed that from 2016 till date, 1.621 billion metric tonnes of gas worth 5.654 billion dollars had been flared.
Salako said the gas flared had moved toward 86 million metric tonnes of Carbon (CO2 ) and 31.3 million tonnes of methane to the atmosphere.
He said the Ministry was determined to change this scenario which was in line with the commitment of the country to end gas flaring by 2030.
”I seek cooperation of all stakeholders in the oil and gas industry within the upstream sector to achieve this,” he said.
The minister said efforts of the National Oil Spill Detection and Response Agency, NOSDRA, led to the development of a mechanism for fact-checking gas flared volumes.
He said this was a crucial step in enhancing accountability and revenue generation within the sector.
”By advocating for a Hybrid Emissions Data Gathering Approach which combines satellite and ground-based data.
‘We ensure the accuracy and reliability of our emission reports.
”Data extracted from the gas flare shows that from 2016 to date, 1.621 billion metric tonnes of gas worth 5.654 billion dollars has been flared, pushing 86 million metric tonnes of Carbon (CO2 ) and 31.3 million tonnes of methane to the atmosphere.
”This, of course, is an unacceptable scenario environmentally and economically,” he said.
In a remark, the out- going Director- General, NOSDRA, Idris Musa, said that since inception,the agency had been at the forefront of efforts to combat oil and gas pollution.
He said that NOSDRA was also at the forefront of championing a technology- driven approach to environmental regulations.
Mr Musa said the introduction of the Nigerian Gas Flare Tracker, NGFT, as a tool stood as shinning example of the agency’s commitment to invocation and excellence.
”This state – of – the art platform not only identifies and quantifies gas flare emissions but also provides invaluable data and insights to government agencies for informed decision-making,” he said.
Source: https://energynewsafrica.com
Algeria: Exxon Signs Gas Exploration Deal With Algeria
Exxon has signed a deal with the Algerian government for exploration at two natural gas fields in the North African country.
The supermajor, in partnership with Algeria’s state energy firm Sonatrach, will “study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin” in the southern part of the country, the New Arab reported.
Details about the amount of the investment were not disclosed by the companies. Information about the potential resources in the two basins was also not disclosed. The agreement is preliminary but it could become a firm commitment if exploration work yields positive results.
Algeria is a large natural gas producer and wants to become an even larger one. Talks about the participation of U.S. supermajors in this expansion emerged last year when the Wall Street Journal reported that Exxon and Chevron were in advanced talks on exploration and production deals in the North African nation.
By early 2024, there was still no news of a deal but it appears that now talks have finally produced a result with one of the U.S. supermajors.
Algeria holds huge conventional natural gas reserves, and it is also estimated to have the third–largest shale gas reserves in the world after China and Argentina.
Most of Algeria’s gas exports are heading to Europe, which is increasingly betting on Africa to import large volumes of pipeline gas and LNG to replace pipeline gas supply from Russia, which was Europe’s top gas supplier before the Russian invasion of Ukraine.
Italy’s energy major, Eni, has been particularly active in securing more natural gas supply for Europe from Africa and has fast-tracked projects in Africa to meet Europe’s gas demand in the absence of Russian pipeline deliveries.
Earlier this year, the biggest LNG import terminal, in the UK, secured 10-year gas supply deal with Algeria’s Sonatrach.
Source: Oilprice.com
Chinese Energy Major Inks Oil Deal With Mozambique
The China National Offshore Oil Co, or CNOOC, has signed an exploration and production deal for five oil and gas blocks in Mozambique, Reuters reported, citing a CNOOC statement.
The five blocks are offshore the African country, in depths ranging between 500 meters and 2,500 meters, the Chinese state-owned company said.
The exploration stage of the deal will last for four years, CNOOC also said, with five of its subsidiaries acting as operators for each of the blocks, which the Chinese company will be exploring in partnership with Mozambique’s state energy company, ENH.
Mozambique has substantial natural gas reserves that could turn the country into a major LNG producer, according to the U.S. International Trade Administration. With reserves estimated at more than 180 trillion cu ft, the potential for development is indeed significant.
However, the actual development of these reserves has proven to be challenging. There are two significant LNG projects in progress in Mozambique, the Rovuma LNG led by Exxon and the Mozambique LNG project led by France’s TotalEnergies.
The chief risk for the projects, which has led to delays for both, is political instability and activity by Islamist organizations. Despite this risk, however, Exxon recently signaled it will press ahead with Rovuma LNG, planning to make the final investment decision on the project at the end of 2025.
“We recognise there are challenges and there are. We recognise that those challenges can be overcome if we work together,” the head of Exxon’s Mozambique operations said earlier this month.
Meanwhile, the UAE’s Adnoc became a shareholder in the Rovuma project, after it recently bought the stake previously held by Portugal’s Galp.
“This strategic investment is ADNOC’s first in Mozambique and complements ADNOC’s efforts to expand its lower-carbon LNG portfolio to meet growing gas demand and support a just, orderly and equitable energy transition,” the Emirati company said after the 10%-stake acquisition.
Source: Oilprice.com
Kenya: Kenya Power Loses 365 Transformers Worth KSh328 Million In 2023
Kenya’s power utility company, Kenya Power, lost 365 transformers worth KShs328 million (the equivalent of $2,466,165.38) in 2023 to vandalism.
Between May and December 2022, the company lost 76 transformers worth KSh68 million and from January 2024 to date, 78 transformers worth 78 million have been vandalised so far.
This was revealed by Dr Joseph Siror, Managing Director of Kenya Power, in a statement issued by the company.
He called for the vetting of all stakeholders engaged in the scrap metal trade including local collectors, main scrap dealers, smelters and exporters.
“We propose that all traders dealing with scrap metal, especially copper and aluminium, must declare their sources to ensure traceability and accountability,” he added.
Ing Siror hailed the provisions in the Energy Act 2019, which criminalises tampering with electricity installations, energy theft, vandalism and damage to streetlights and power infrastructure, which, he said was playing a big role in combating vandalism.
The Act prescribes a KSh5 million fine and a five-year prison sentence, or both for offenders.
He called on all stakeholders to join in rooting out the unscrupulous scrap dealers to ensure a sustainable and reliable power supply for all Kenyans.
Source:https://energynewsafrica.com
Zimbabwe Looks To Develop Lithium Refining Industry
Zimbabwe, Africa’s top lithium producer and the world’s sixth-largest lithium miner, is looking to boost its economy with higher-value lithium by refining the raw material to battery-grade lithium.
Four large-scale producers of lithium concentrate have already submitted plans to refine the raw material locally, instead of shipping it to China, whose lithium companies dominate the lithium extraction industry in Zimbabwe, according to a senior government official in the African country.
“They are coming forward with plans but these are long-term plans which we are receiving. We have four large-scale producers who have come forward,” Zimbabwe’s deputy mines minister Polite Kambamura told Reuters.
The government has not started to review the proposals for lithium refining operations yet, the official said, declining to name which companies have filed such plans.
Chinese miners Sinomine Resource Group, Zhejiang Huayou Cobalt, Yahua Group, Chengxin Lithium Group, Canmax Technologies, and Tsingshan Group are operating in Zimbabwe. After extracting the lithium concentrate they ship it to China for processing it into battery-grade lithium to be used in electric vehicles (EVs) and energy storage facilities.
Last year, Zimbabwe’s lithium mine production hit a new record high of 3,400 metric tons, up by a massive 230% compared to 2022. Annual output has tripled over the past decade.
Now Africa’s top lithium producer is seeking to develop a lithium refining economy, with the government giving miners last November six months to come up with plans to process the key battery metal domestically.
“We are not going to end on concentrates, we want batteries to be manufactured here,” deputy mines minister Polite Kambamura told Reuters.
China is a dominant player in processing of the critical battery minerals that will help accelerate the energy transition. China accounts for the refining of 90% of rare earth elements (REEs) and 60-70%of lithium and cobalt, the International Energy Agency (IEA) says.
Source: Oilprice.com
Ghana: Petroleum Tanker Drivers Suspends Strike
Petroleum Tanker Drivers in the Republic of Ghana have suspend their four days of industrial action.
This follows an emergency stakeholders’ meeting on Thursday, May 23, 2024, at the head office of the National Petroleum Authority (NPA), Ghana’s petroleum downstream regulator in Accra, the capital of Ghana.
The tanker drivers union held a press conference today after meeting with their members and informing them of what transpired at the stakeholders’ meeting on Thursday.
The tanker drivers declared a nationwide strike action on Monday, May 20, 2024, over claims that the Board of NPA and Association of Oil Marketing Companies (AOMC) had refused to approve the conditions of service framework for tanker drivers and their mates, which was unanimously endorsed by a committee whose composition was facilitated by the NPA.
Both the regulator, NPA, and AOMC responded to the issue, with the NPA rejecting the assertion by the Tanker Drivers’ Union that its board had refused to approve the framework.
In a statement issued by Dr Riverson Oppong, Chief Executive Officer of AOMC, the association clarified that payment of salaries to drivers and their mates is the sole responsibility of employers.
While acknowledging the important role the tanker drivers play in the transportation and distribution of petroleum products across the country, he said the AOMC remained committed to ensuring that tanker drivers were fairly remunerated.
He urged the union to provide a list of all OMCs that are not paying drivers and their mates.
In a communique issued after the stakeholders’ meeting, it was agreed that the drivers called off the strike and adopted the conditions of the service framework.
The implementation of the framework is expected to commence in June 2024.
Source: https://energynewsafrica.com
South Africa Is Set To Run Coal Power Plants For Longer Than Planned
South Africa’s power utility company, Eskom plans to operate some coal-fired power plants for longer than initially envisaged to avoid making an already vulnerable grid more unreliable, the company’s CEO has said.
South Africa has been in the grips of an energy crisis with daily rolling power cuts that have been crippling the economy as Eskom continually fails to boost generation capacity to keep pace with growing demand in recent years.
South Africa, one of the world’s largest coal producers and exporters, continues to rely on coal for a large part of its energy mix.
Currently, some 85% of South Africa’s electricity is generated via coal-fired power stations.
To avoid unnecessary additional stress on the grid, Eskom now plans to extend the life of some coal-fired power plants instead of shutting them down by 2030, as expected earlier.
“We’ll continue some of our coal operations that were earmarked for shutting down,” Dan Marokane, chief executive officer of Eskom Holdings SOC Ltd, said at a conference, as carried by Bloomberg.
“We’ll review that process on shorter time intervals going to 2030, but we’ll place ourselves in a position where we are not made vulnerable by early shutting down of those stations,” the executive added.
South Africa continues to be committed to reducing emissions but grid reliability cannot be overlooked, according to Eskom executives.
Currently, Eskom is holding talks with the government on ways to attract public and private financing of the equivalent of $21 billion for a major expansion of the power grid to accommodate an expected rise in renewable energy.
Eskom has estimated that it needs $21 billion (390 billion South African rand) to fund its plan to build nearly 9,000 miles of new power lines over the next decade, which would be more than triple the miles of transmission lines it has installed in the past decade, the company told Bloomberg last month.
Source: Oilprice.com
Tesla Sells Over 30 Cybertrucks Daily In The U.S.
The rollout of the Cybertruck by American electric vehicle manufacturer Tesla (NASDAQ: TSLA) marked a significant moment in the EV sector, which has struggled to produce models that mirror traditional pickup trucks.
The Cybertruck has received what can be considered an impressive reception in North America, as evidenced by the steady growth in sales in the region since the beginning of the year.
Particularly, data acquired by Finbold indicates that in the first quarter of 2024, Tesla sold 2,803 Cybertruck units.
The Elon Musk-led firm sold 869 units in January, which grew to 925 in February.
The unit sales surpassed the 1,000 mark in March, reaching 1,009. Therefore, the cumulative sales translate to an average of 31 units per day in Q1 2024.
Despite Tesla’s steady growth in Cybertruck sales, the company still lags in the electric pickup category in the U.S. Ford (NYSE: F) sold 7,335 units in the first quarter, followed by Tesla’s Cybertruck at 2,803.
Rivian’s (NASDAQ: RIVN) R1T ranks third with 2,737 units, while General Motors’ (NYSE: GM) Chevrolet Silverado EV sold 1,061.
The GMC Hummer EV ranked fifth with 272 units.
Implication of Cybertrucks Q1 sales
The growth of Cybertruck sales in the first quarter is encouraging for Tesla, which the slowdown in the general EV market has impacted.
Notably, Tesla’s other sales have been declining, and the rising Cybertruck sales could help keep the brand afloat. The market conditions for the EV market have had far-reaching consequences, resulting in a significant plunge in Tesla stock.
The sustained sales partly reflect the buzz created around the Cybertruck since Tesla announced the model. Indeed, the model represents Tesla Motor’s push to infiltrate the traditionally conservative pickup truck segment with plants to ramp up production in the future.
Indeed, the Cybertruck is considered a unique model due to its distinctive design, and its sales can be deemed successful, especially as it falls into the luxury category of full-size pickups. Notably, sales are expected to increase, given Tesla’s announcement that it produced over 1,000 Cybertrucks in a single week in April during its earnings report.
It’s worth noting that Musk has signaled that the Cybertruck is likely to become a vital component of the company’s vision.
The executive has previously stated that Tesla aims to sell a quarter million units yearly, depending on market demand.
Currently, the company isn’t fretting over the demand for Cybertruck. A prior Finbold report revealed that Tesla Motors was garnering an average of roughly 1,102 Cybertruck reservations daily over the preceding two years, up to August 2023.
Furthermore, the appeal of the Cybertruck can be ascribed to Tesla’s reservation terms, which entail a $100 refundable deposit. Additionally, at some point, Cybertruck pre-orders surpassed Tesla’s total deliveries over a two year period, as of July 1, 2020.
Cybertruck challenges
Yet, the Cybertruck hasn’t been without its share of controversies, sparked by Tesla’s recall of defective units. Notably, nearly 4,000 cyber trucks were recalled due to an accelerator defect that could cause them to become stuck when pressed, heightening the risk of a crash.
In the wake of these concerns, Tesla has issued a vehicle safety report regarding potential crash risks. Within the report, Tesla emphasized its commitment to engineering vehicles “to be the safest cars in the world.”
The company aims to achieve this level of safety through a blend of passive safety measures, active safety features, and automated driver assistance systems.
As of Q1 2024, the EV giant claimed that its vehicles using autopilot technology experienced one accident per 7.63 million miles driven, compared to the U.S. average, which is more than 11 times higher.
Undoubtedly, Tesla still has some catch-up within the pickup category, particularly with Ford’s dominance in the space. It’s intriguing to observe how Tesla will navigate this competition.
There’s speculation about potential strategies, including the possibility of price cuts, a tactic Tesla has employed with other models. Should such a move be applied to the Cybertruck, it would signal Musk’s determination to maintain Tesla’s dominance in the U.S. EV market.
Considering the EV market slowdown, attention is on whether Tesla can sustain the current pace of Cybertruck sales. At the same time, it remains to be seen if the recall will affect sales or slow down production.
Source: Finbold.com