Ghana: Give Us A List Of OMCs Who Don’t Pay Drivers And Mates–AOMC To GNPTDU
The Association of Oil Marketing Companies in the Republic of Ghana has asked striking petroleum tanker drivers to provide a list of their employers who are mistreating them by not paying them the appropriate remuneration.
According to the Association, verifying specific instances of unpaid drivers is crucial and, thus, encouraged the leadership of the Ghana National Petroleum Tanker Drivers Union (GNPTDU) to share any information regarding the drivers who do not receive proper remuneration for them to assist in addressing same.
Last Monday, petroleum tanker drivers under the aegis of the Ghana National Petroleum Tanker Drivers’ Union declared a nationwide strike action in protest of poor working conditions.
They accused the Board of NPA and the Association of Oil Marketing Companies (AOMC) of failing to approve the conditions of service framework for drivers and their mates.
Speaking to the Communications Manager for NPA, Mohammed Kudus, rejected the claim by the drivers that the NPA had refused to sign the framework.
He explained that payment of salaries to drivers and their mates is the sole responsibility of the employer and not the NPA, stating that the NPA CEO facilitated the composition of the committee that worked on the conditions of service framework out of the good heart he has for the drivers and their mates.
In a statement issued by the Chief Executive Officer of AOMC, Dr Riverson Oppong reminded the drivers that the responsibility for determining and paying employee remuneration lies with the employer being the respective tanker owners and not the National Petroleum Authority as the proposed framework seeks to do.
According to him, payment of salary is purely an employer/employee relationship guided by the labour laws of Ghana.
“The NPA’s role is primarily regulatory, focusing on ensuring compliance with industry standards and regulations. ”
“Compensation matters fall under the administrative purview of the employer the Petroleum Service Providers (PSPs).
“NPA does not have the legal nor administrative capacity to take up this role from the employers of these drivers as the proposed framework in its current form seeks to do,” Dr Riverson Oppong said.
He said the association recognises the importance of fair compensation for tanker drivers and their mates.
He added that the Association remains committed to finding a resolution that ensures the fair treatment of all stakeholders involved while maintaining the stability of the petroleum distribution network to ensure smooth operations of Ghana’s fuel supply chain.
Source: https://energynewsafrica.com
Ghana: GNPC CEO, Petroleum Commission Boss Discuss Upstream Development
The newly appointed Chief Executive Officer of GNPC, Ghana’s national oil company, Mr Joseph Abuabu Dadzie, has met with the Chief Executive Officer of the upstream regulator Petroleum Commission (PC), Egbert Faibille Jnr., to discuss several key issues aimed at fostering greater synergy in addressing challenges in Ghana’s upstream petroleum sector.
Joe Dadzie who was accompanied by some management staff of GNPC met PC CEO on Monday, May 20, 2024.
During the meeting, Mr Dadzie outlined his vision for GNPC, aiming to consolidate its position as a leader in the industry.
He acknowledged the critical role that PC plays in regulating Ghana’s upstream oil and gas sector, indicating his readiness to work closely with the commission to achieve mutual success and contribute to the growth of Ghana’s energy sector.
Highlighting the significance of maintaining positive relationships, Mr Dadzie emphasised the need for open communication and transparency to ensure a seamless partnership between the national oil company and PC.
He reiterated his commitment to openness, inviting suggestions and feedback from all stakeholders and partners.
Re-echoing the position of his guest, Mr Egbert Faibille Jnr, CEO of PC, reflected on past collaborations between GNPC and his outfit and emphasised the value of knowledge sharing within the confines of mutual understanding and respect.
“Our relationship as professionals is an intricate one that requires that we continuously improve on ensuring that we safeguard Ghana’s interest in the end,” he said in a Facebook page of GNPC.
The two-state entities used the opportunity to address several outstanding concerns related to regulatory compliance, operational challenges and industry best practices.
Mr Joseph Dadzie assured them that all outstanding issues would be thoroughly attended to as GNPC strives towards building stronger and more productive work relationships with the Commission.
Source: https://energynewsafrica.com
Ghana’s Crude Oil Output Falls Steeper… Declined From 71.44 Million Barrels To 48.25 Million In 2023
Ghana’s crude oil production from the three oil-producing fields namely Jubilee, Sankofa Gye Nyame and Tweneboa Enyenra Ntomme fell steeper from a high of 71.44 million barrels in 2019 to 48.25 million barrels in 2023.
This represents an annual average decline of 9.2 per cent, a report by the Public Interest and Accountability Committee (PIAC), an independent body that provides oversight responsibility of Ghana’s oil revenue, has revealed.
The report which was launched in Accra, the capital of Ghana, on Tuesday, May 21, 2024, highlighted the happenings in the upstream petroleum sector.
The report said of the 48 million barrels, 63 per cent came from the Jubilee Fields, 23 per cent from SGN and 14 per cent from TEN.
“For the year 2023, a total of 48,247,036.61 barrels (bbls) was produced from the three producing fields; Jubilee – 30,444,217 bbls (63%); TEN – 6,716,278 bbls (14%) and SGN 11,086,541.61 bbls (23%).”
For raw gas, a total of 255,171.97MMSCF was produced in 2023 from the SGN Field (127,203.02 MMSCF, 50%), Jubilee (77,900.05 MMSCF, 30%) and TEN Fields (50,068.90 MMSCF, 20%).
It was also discovered that the total proceeds from the Jubilee Oil Holdings Limited (JOHL) liftings received in 2023, amounting to US$70,456,718.93, were not paid into the Petroleum Holding Fund (PHF) for the second consecutive year.
This brings the cumulative proceeds of unpaid revenue into the PHF by JOHL to US$343,108,927.88 as of the end of 2023.
The average achieved price by the Ghana Group for all three producing fields during the period under review was US$78.067/bbl.
On the back of this, the committee recommended that the government and the relevant regulatory bodies should take the appropriate steps to reverse production decline in existing fields and ensure investments in unexploited fields.
The 2023 Annual Report is in fulfillment of PIAC’s obligation under the Petroleum Revenue Management Act, 2011 (Act 815), as amended by Act 893, to publish Semi-Annual and Annual Reports
Due to dwindling oil reserves in the Jubilee Oil Field, the partners have committed to raising US$704 million to decommission the field by 2036, which is about twelve years away, by signing an agreement with all the partners involved in the operation of the field.
The agreement was signed at the Ministry of Energy in March 2024.
The Jubilee partners– Tullow Ghana Limited, Kosmos and GNPC–have consented to create a Trust Fund where monies could be lodged by the partners based on the Petroleum Agreement covering the field and used for the decommissioning of the field.
Source: https://energynewsafrica.com
Nigeria: Joy At Last As 2000 Communities In Ondo State Connected To National Grid After 15 Years Of Staying In Darkness
Over 2000 communities in five local government areas of Ondo State in the Federal Republic of Nigeria have been connected to the country’s national electricity grid after 15 years of being without electricity.
The 2000 communities were connected to the national grid on Wednesday after the Niger Delta Development Commission (NDDC) inaugurated a 132kv transmission line and a 132kV/33kV substation in Okitipupa Local Government Area.
The President of the West African nation, Bola Ahmed Tinubu, in a speech delivered on his behalf by the Minister for Niger Delta Affairs, Hon Abubakar Momoh, said the project commissioning was part of his administration’s effort to ensure sustainable development as well as peace and stability of the Niger Delta region.
He said the project would change the scenario of the five local government areas.
President Tinubu assured that the 2024 budget would enable many projects of the NDDC to be completed.
“We placed a high premium on sufficient power to stimulate the economy of the country. The power supply is crucial to enhance social economic development and increase income for the family. This project is one of many other projects being undertaken by the NDDC. This project has the capacity for efficient power distribution. It is a celebration of development and hard work. I cannot imagine the level of decadence in many communities,” he stated.
Managing Director of the NDDC, Samuel Ogbuku, said the project was completed because it was not vandalised.
Ogbuku stated that the NDDC has earmarked 50 projects to be commissioned as part of President Tinubu’s one year in office.
“This will be a major boost for the local economy and will facilitate more food production,.processing and transportation.
“It is expected to be a catalyst for the development of the areas, Ondo state and the region.”
Governor Lucky Aiyedatiwa, on his part, called on the NDDC to complete other ongoing projects scattered across the state.
Local reports suggested that there was joy and excitement among residents in the Ondo State Local Government area when the area was connected to the grid.
Source: https://energynewsafrica.com
Nigeria: Tinubu Inaugurates 15-member NEITI Governing Board
Nigerian President Bola Tinubu has inaugurated the Governing Board of the Nigeria Extractive Industries Transparency Initiative, NEITI.
Inaugurating the 15-member committee, Mr Tinubu said he was proud of the board with the members carefully selected, based on their diverse competencies, skills, knowledge, integrity and track record of service in their previous assignments.
Represented by Sen. George Akume, Secretary to the Government of the Federation, SGF, who also chairs the new NEITI Board, Mr Tinubu said prudent management of Nigeria’s resources was central to his administration’s economic agenda and anti-corruption policies.
The president reaffirmed Nigeria’s commitment to the implementation of the principle and standards of the global Extractive Industries Transparency Initiative, EITI, in Nigeria.
“The present administration is passionate and remains fully committed to the global EITI, the work of NEITI and the visible impacts which the EITI process has achieved so far in Nigeria.
“Nigeria is therefore, irrevocably committed to the implementation of EITI in the oil, gas, and mining industries,” he said.
He said NEITI had demonstrated a high degree of competence, integrity and commitment to the values that the country required to achieve economic growth and development in the sector.
The president added that the effort was through availability of reliable information and data required for national planning and reforms.
“As members of this board, your job is clearly and specifically evolving strategic policy direction and oversight that supports NEITI Management and the Secretariat to continue to implement its activities smoothly without any distractions or interference.
“It is also very important that the board supports NEITI to preserve its corporate values, remain focused and committed to its values of transparency and accountability for the benefit of all of us present here today and our future generations,” he said.
Addressing the Board shortly after inauguration, Sen. George Akume said his appointment demonstrated the Federal Government’s prompt response to recent EITI assessment of Nigeria’s implementation of the initiative which stressed urgent need to reconstitute NEITI’s Board to avoid sanctions.
He said the new NEITI Board would take steps to address outstanding issues raised by the EITI validation report which the NEITI Secretariat has already prepared a detailed corrective action plan for the Board to consider.
“This Board has the responsibility to understand the issues and provide policy support to the Secretariat to successfully implement the plan. Nigeria scored 72 points in that global Assessment.
“And it is my hope that Nigeria will score 100 points at the next validation due in January 2026 under this Board and my chairmanship.
“We must support the ongoing independent audits of the industry, reforms in the oil and gas sector being driven by the Petroleum Industry Act 2021, the reforms in the solid minerals sector and the proposed amendments of the NEITI Act,” he said.
Earlier, Dr Orji Ogbonnaya Orji, Executive Secretary, NEITI, while expressing gratitude to the president over his approval for the inauguration, said global EITI was also delighted over the decision for Nigeria to get a new board.
The 15-Man NEITI Board also include the Executive Chairman of the Federal Inland Revenue Service, FIRS, representing the Government, while the Group Chief Executive Officer, Nigeria National Petroleum Company Limited (NNPC Ltd.) is representing the National Oil and Gas Company.
The Board also has a representative of the Oil Producers Trade Section, OPTS, Lagos Chamber of Commerce and the President of Miners Association of Nigeria, representing Extractive Companies (Oil, gas and mining companies), among others.
Ghana: TOR Workers Offered Hope By NDC Flagbearer
Workers of the struggling state-owned Tema Oil Refinery (TOR) have been offered hope by the 2024 flag-bearer of the National Democratic Congress (NDC), John Dramani Mahama, that his administration will be committed to revamping the refinery if he is elected president in the upcoming December 7 general elections.
This, Mr Mahama said would be done through a joint private-public partnership which his government would secure to help revive the nation’s troubled oil refinery.
He made the pledge when he met with players in the petroleum downstream sector in Accra.
Mr Mahama said TOR would be given full attention under his next administration.
“We need to look again at how we can bring the refinery back in place. But I do think that the problems we have with running that refinery is because it is a state-owned enterprise.
“And we all know the inefficiencies that go with state-owned enterprises. And so we are open to private partnership in terms of bringing that refinery back into operation and running it, but we think that whatever private partnership or private participation is invited, it must come through a transparent process.”
Since he became President in 2017, Nana Akufo-Addo has appointed six Managing Directors with the hope of turning around the refinery but none has succeeded.
Source: https://energynewsafrica.com
Ghana: WAPCo Resumes Gas Delivery At Tema Facility After Glitch
The West African Gas Pipeline Company Limited (WAPCo), has resumed gas delivery at its Regulating and Metering Station at Tema, Accra, after a system shut down on Wednesday morning.
Severe winds that accompanied this morning’s rains triggered the system’s automatic shutdown mechanism, causing the entire system to shut down.
As a result, WAPCo was unable to deliver gas to customers in Tema, the company said in a statement.
The statement assured that their engineers were waiting for the storm to subside when it will then be safe to fix the problem.
In an update, the company said it has restored gas delivery to customers in Tema and expressed gratitude to its key stakeholders for their patience while the system was being fixed.
Source: https://energynewsafrica.com
ADNOC Continues LNG Expansion With Stake In Mozambique Project
Abu Dhabi’s national oil company ADNOC has acquired a 10% interest in an LNG project offshore Mozambique as it continues to expand its international natural gas operations.
ADNOC has bought the 10% stake in the Area 4 concession of the Rovuma basin in Mozambique held by Portugal’s Galp.
The deal will entitle ADNOC to a share of the LNG production from the concession, which has a combined production capacity exceeding 25 million tonnes per annum (mtpa), the state energy firm of the United Arab Emirates (UAE) said on Wednesday.
The Area 4 concession includes the operational Coral South Floating LNG (FLNG) facility, the planned Coral North FLNG development, and the planned Rovuma LNG onshore facilities.
“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 company said, announcing a second major acquisition of an LNG stake this week.
On Monday, ADNOC said it had bought an 11.7% stake in Phase 1 of NextDecade’s Rio Grande LNG export project in Texas, announcing its first strategic investment in the U.S.
ADNOC has also signed a 20-year LNG offtake agreement from Rio Grande LNG Train 4 with NextDecade.
ADNOC has been looking to expand abroad and broaden its LNG portfolio with lower-carbon gas supply.
According to the UAE’s firm, NextDecade’s Rio Grande LNG would be a “world-class lower-carbon LNG project.”
Rio Grande LNG near Brownsville, Texas, is the first U.S. LNG project offering expected emissions reduction of more than 90% through its proposed carbon capture and storage (CCS) project, ADNOC noted.
The CCS project is expected to capture and permanently store more than 5 million metric tons per annum of carbon dioxide (CO2) – equivalent to removing 1 million vehicles from the road annually.
Source:Oilprice.com
Ghana: Stephen Ntim Gets NPA Board Chairman Appointment
Ghana’s President Nana Akufo-Addo has appointed the National Chairman of the New Patriotic Party (NPP) as the Board Chairman of the National Petroleum Authority (NPA), Ghana’s petroleum downstream regulator.
Mr Ntim replaces Mr Joe Addo-Yobo, who served as Board Chairman from 2017.
A few weeks ago, there was a speculation that Mr Ntim had gotten the appointment.
Then, on Tuesday, Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh, confirmed Mr Ntim’s appointment on his Facebook page.
He wrote: “Earlier today, 21st May 2024, I swore into office, newly appointed Board Chairman of the Board of Directors of the National Petroleum Authority (NPA), Mr Stephen Ayesu Ntim.
”I charged the new chairman of the downstream regulator to focus on key priorities; strengthening regulatory frameworks, enhancing operational efficiencies and ensuring that the NPA operates with the highest standards of integrity and accountability.
“National Chairman of my beloved New Patriotic Party, Mr Ntim, is not new to leadership and, therefore, I have no doubt that he has what it takes to steer the NPA to achieve its objectives for the benefit of all Ghanaians,” he said.
Mr Ntim was the Board Chairman of the Lands Commission and it is not clear why the President moved him to the NPA.
Source: https://energynewsafrica.com
U.S. Department Of Energy To Release 1 Million Barrels Of Gasoline From Northeas
The U.S. Department of Energy (DOE) has announced the sale of 1 million barrels (42 million gallons) of gasoline from the Northeast Gasoline Supply Reserve (NGSR) aimed at alleviating gasoline prices as Americans gear up for the summer driving season and ahead of U.S. elections this fall.
“The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” said U.S. Secretary of Energy Jennifer M. Granholm.
By releasing this reserve between Memorial Day and July 4th, the administration aims to ensure a steady fuel supply in the Northeast during a peak travel period.
The gasoline will be sold in increments of 100,000 barrels to encourage competitive bidding among retailers and terminal operators.
The DOE has designated storage sites in Port Reading, NJ (900,000 barrels) and South Portland, ME (98,824 barrels) for this release.
Successful bidders will receive their allocations by June 30, 2024, ensuring ample supply ahead of the July 4th holiday.
Bids are due by 11:00 a.m. Central Time on May 28, 2024, with revenues from the sale directed to the U.S. Treasury.
This initiative is part of a broader strategy to manage the country’s petroleum reserves effectively and ensure energy security.
By introducing nearly 1 million barrels of gasoline into the commercial market, the DOE hopes to stabilize prices and provide relief to consumers.
The Department of Energy established in 2014 the Northeast Gasoline Supply Reserve (NGSR)—the first federal, regional, refined petroleum product reserve containing gasoline—following the 2012 Superstorm Sandy in the northeastern United States.
The NGSR holds one million barrels of gasoline, including 700,000 barrels located in the New York Harbor area, 200,000 barrels in the Boston area, and 100,000 barrels in South Portland, Maine.
Source: Oilprice.com
Ghana: Petroleum Tanker Drivers On Strike – They’ve Accused NPA, AOMC Of Refusing To Approve Conditions Of Service Framework
Petroleum haulage tanker drivers in the Republic of Ghana on Tuesday declared a nationwide strike action in protest of the refusal of some stakeholders to approve a condition of service document for drivers and their mates.
The drivers are accusing the Board of NPA, the regulator of the petroleum downstream, and the Association of Oil Marketing Companies (AOMC), of refusing to sign the document which had received approval by majority members of a committee that was constituted to draft conditions of service framework for drivers and their mates.
The composition of the committee was facilitated by the NPA and is chaired by the Deputy CEO of NPA, Curtis Perry Okudzeto.
The poor conditions of tanker drivers and their mates have been an issue that has lingered on for several years.
As a result of poor working conditions, some drivers in the past used to siphon fuel in the course of their journeys to discharge fuel to service stations.
However, the introduction of trackers on the trucks and setting up of an electronic cargo tracking system that allows NPA to monitor fuel tankers from the point of loading to the destination has stopped the fuel siphoning.
With drafting of the condition of services framework, the drivers and their mates had high hopes that their years of misery was going to end.
Sadly, that appears to have been quashed for now.
In a petition to President Akufo-Addo dated May 7, 2024, the National Executives of Ghana National Tanker Drivers Union (GNTDU), the drivers narrated the genesis of the conditions of service framework drawing the attention of the President that he directed the then Minister Boakye Agyarko and former CEO NPA Hassan Tampuli in August 2017 to ensure that their grievances were addressed.
They said when Boakye Agyarko exited the Ministry and John Peter Amewu was appointed, he (Amewu) called for emergency meeting where a proposal was tabled to segregate drivers and mates margins allocated to transporters within the Unified Petroleum Price Fund (UPPF).
This directive, according to the drivers, was not followed through.
They said following a series of threats in 2023, the NPA constituted a committee comprising representatives from the Ministry of Energy, Ministry of Employment and Labour, Association of Oil Marketing Companies (AOMC), National Petroleum Authority (NPA), Bulk Oil Storage and Transportation Company (BOST), General Transport Petroleum and Chemical Workers Union (GTPCWU), Tanker Owners Union (TOU), and Ghana National Petroleum Tanker Drivers Union (GNPTDU).
They said the committee worked for six months and drafted a conditions of service framework that was unanimously accepted by all the representatives and the document was to be implemented in November 2023.
The drivers expressed shock that the new board of AOMC had kicked against the conditions of service framework with the claim that their representative was not authorised to endorse the document the multiple stakeholders agreed to its implementation, a position that the driver described as untenable.
The drivers urged President Akufo-Addo to step in to resolve the issue.
Speaking, George Nyaunu, the National Chairman of GNPTDU, said they issued two weeks ultimatum to the NPA to resolve the issue but the authority didn’t respond.
He continued that their petition to the President had not yet been responded to, adding “it appears nobody wants to address our conditions of service issue so we have laid down our tools.
“We are not going to work,” he added.
When contacted, Communications Manager for NPA Kudus Mohammed said payment of salaries to workers is the sole responsibility of employers.
“It is not our mandate to determine salaries for drivers. It is the duty of employer,” he explained.
He said the CEO of NPA, out of good heart he had for the drivers because of their poor working conditions, facilitated the composition of the committee to look into the grievances of the drivers.
He said there was some disagreement on some of the things that had already been agreed, stating that some of the stakeholders wanted some of the proposals in the document reviewed.
He rejected the claim by the drivers that the NPA had refused to sign the document.
He wondered why the drivers are saying that NPA had refused to sign the document when it would not have any effect on the regulator.
“The allegation against NPA is wild. This is not something that is going to be charged on NPA, so why would the Board refuse to sign,” he quizzed.
The new CEO of the Association of Oil Marketing Companies Dr. Riverson Oppong was not available when reached via telephone.
Checks at the TOR and BOST depots in Accra and Kumasi showed that the drivers had packed their trucks and congregate themselves and discussing their poor working conditions.
Source: https://energynewsafrica.com
Morocco: Chariot Begins Second Drilling Operation On Dartois Prospect Onshore Morocco
Chariot Limited, the Africa focused transitional energy group, has announced the spudding of OBA-1 well on the Dartois prospect in the Loukos Onshore licence in Morocco, with a best estimate recoverable prospective resources of 12 Bcf.
Success in the drilling operation could potentially unlock a trend of prospects with combined best estimate recoverable prospective resources of 20 Bcf, Chariot Limited said in a statement on Monday, May 20, 2024.
“We are pleased to be underway with our second well in this drilling campaign, having spud the OBA-1 well within short order of completing operations at Gaufrette,” said Duncan Wallace, Technical Director of Chariot.
“We are now testing an independent prospect at Dartois, which is in a different reservoir fairway and along trend from an existing gas discovery, and we look forward to providing an update on the results in due course,” he added.
The results will be announced on completion of drilling, the company said.
As an Africa focused transitional energy group, Chariot runs three business streams – transitional gas, transitional power and green hydrogen.
While the Transitional Gas unit is focused on high value, low risk gas development projects in Morocco, the Transitional Power unit is focused on providing competitive, sustainable and reliable energy and water solutions across the continent through building, generating and trading renewable power.
Chariot Green Hydrogen meanwhile has partnered with TEH2 (80% owned by TotalEnergies, 20% by the EREN Group) and the Government of Mauritania on the potential development of a 10GW green hydrogen project, Project Nour in Mauritania, and are progressing pilot projects in Morocco.
Source: https://energynewsafrica.com
OPEC Extends Condolences To Iran Following Death Of President Raisi
The Organization of the Petroleum Exporting Countries (OPEC) has extended its sincerest and deepest condolences to the family, the leadership and people of the Islamic Republic of Iran, and the entire OPEC Family following the tragic death of H.E. Ayatollah Dr. Ebrahim Raisi, President of the Islamic Republic of Iran, an OPEC member.
Raisi’s death, along with the foreign minister and other officials in a helicopter crash Sunday in northwestern Iran, came as Iran struggles with internal dissent and its relations with the wider world. In a statement issued by the oil cartel on Monday, May 20, 2024, OPEC Secretary General, H.E Haitham Al Ghais, said: “It is with great sadness and deep sorrow that we have learned of the tragic passing of HE Ayatollah Dr Ebrahim Raisi, President of the Islamic Republic of Iran, and other senior government officials. “In these difficult times, on behalf of myself and all the staff at the OPEC Secretariat, I extend my condolences and sympathy to the esteemed leadership and people of the Islamic Republic of Iran and the families of HE President Raisi and other officials.” H.E. Al Ghais met with H.E. President Raisi in May 2023 in Tehran, Iran, during the Secretary General’s first official visit to the OPEC Founding Member. The meeting focused on Iran’s role in the global oil and energy markets, as well as the future outlook for investments in the oil industry in the Islamic Republic of Iran. The entire OPEC Family commiserates with the family of HE Dr Raisi, and the leadership and people of the Islamic Republic of Iran. Source: https://energynewsafrica.comGhana: Petrosol Appoints Former CEO Of VALCO As Its Board Chairman
Petrosol Ghana Limited, an indigenous oil marketing company in the Republic of Ghana has appointed Mr. Daniel Acheampong, a distinguished corporate leader and former Chief Executive Officer of Volta Aluminium Company Ltd (VALCO), as its Board Chairman.
He formally assumed the Chairmanship role on Thursday, 16th May, 2024, a statement issued by the oil firm said.
Mr. Acheampong, who spent 36 years in VALCO, playing various key roles, rose through the ranks to senior leadership and by dint of hard work, performance, professionalism, ethical conduct, and excellent leadership qualities, was appointed as the CEO of VALCO in January 2014. He served diligently for almost a decade in this position and retired at the end of July, 2023.
Prior to becoming the CEO, he served as the Deputy CEO in charge of Human Resources and Administration, Public, and Legal Affairs, after having previously served as the Director of Human Resources and Administration of VALCO.
Mr. Acheampong is a Human Resource practitioner by profession and prior to assuming the role of CEO of VALCO, had close to thirty (30) years of contemporary experience in the field of Human Resource Management and Strategic Leadership.
Thus, on becoming the CEO of VALCO in 2014, he leveraged all his internal and external influences to bring about increased confidence, commitment and goodwill of major stakeholders towards VALCO’s operations and in particular, towards the Company’s status as the anchor for the implementation of Ghana’s Integrated Aluminium industry.
Prior to joining VALCO in 1987, Mr. Acheampong acquired considerable know-how in Contract and Administrative Law, both at the University and while working for three years as an Administrative and Investigations Officer at the Office of the Ombudsman, now Commission for Human Rights and Administrative Justice (CHRAJ).
In recognition of Mr. Acheampong’s outstanding contribution to VALCO, a new state-of-the-art steam boiler which VALCO commissioned in March 2024, was named after him by the company.
In the Ghanaian business community, Mr. Acheampong is highly respected, as he served as the President of the Ghana Employers’ Association (GEA) from 2018 to 2024 (6 years), after having previously served as the 1st Vice President. He also served as the President of the Institute of Human Resource Management Practitioners, Ghana (IHRMP) from 2007-2011 (4 years), having previously served as the Institute’s Vice-President.
He is also highly respected by key players in the global aluminium smelter and allied industries.
Mr. Acheampong is a recipient of a number of high-profile awards and was inducted into the Corporate Ghana Hall of Fame in March 2022. He also received the Ghana Business Leaders Life Time Achievement Award in September 2023.
Mr. Acheampong brings to the PETROSOL Board a wealth of strategic leadership qualities, focused on performance or results, as productivity occupies a pride of place in his heart.
Having successfully served on various boards of some key organizations, he will be bringing those experiences to guide the Board of PETROSOL to ensure the achievement of the company’s strategic objectives.
Some of the Boards/Councils/Commissions he served on include: Member, Board of Directors of VALCO; Chairman, Council of the Ghana Employers Association; Chairman, Council of the Institute of Human Resource Management Practitioners, Ghana (IHRMP); Member, National Tripartite Committee; and Member/Vice Chairman of the National Labour Commission (NLC), where he served for 12 years as a Commissioner of the NLC.
He is currently serving a second term on the Board of Trustees of the Social Security and National Insurance Trust (SSNIT) as well as on the Boards of some other private firms.
Mr. Acheampong graduated with First Class Honours Degree in Business Administration from the University of Ghana Business School, (UGBS) in 1984, majoring in Management.
With his wealth of contemporary experience in Strategic Human Resource Management and Leadership, Mr. Acheampong holds a global perspective of issues, given his solid professional/executive post-graduate credentials obtained from the Business Schools of the University of Michigan, Harvard University and the Centre for Creative Leadership, all in the United States of America. With productivity so dear to him, he also had a stint in Productivity studies at the Botswana National Institute of Productivity.
Commenting on his appointment, Mr. Acheampong said, “It is a great honour to be appointed to chair the Board of PETROSOL. Having accepted the challenge of serving on the Board, I wish on behalf of the Team, to assure the Shareholders and all Stakeholders that we will do whatever it legitimately takes to positively transform the company to take its rightful place on the Ghanaian market and beyond.”
He further stated that, “Continuous improvement in the Corporate World is the name of the game” and that “all hands should be on deck as we move into the Change Management or Transformation mode.”
Source: https://energynewsafrica.com