Oil Prices Fall Further As U.S. Crude Oil Inventories See Major
Crude oil inventories in the United States rose by a staggering 11.9 million barrels for week ending November 3, according to The American Petroleum Institute (API), after a 1.347-million-barrel rise in crude inventories in the week prior, API data showed.
API data now shows a net build in crude oil inventories in the United States of 10.568 million barrels so far this year.
On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) stayed the same for the fifth week in a row, with the SPR inventory still sitting at a near 40-year low of 351.3 million barrels, with total purchases for the SPR coming in at less than 4 million barrels since the Biden Administration began its buyback program.
Earlier this week, the DoE announced a supplemental solicitation for another 3 million barrels of oil for delivery in January 2024.
Oil prices were trading down ahead of API data release, with Brent trading down 3.93% at $81.83 at 4:01 p.m. ET—a roughly $5.50 decrease week over week.
The U.S. benchmark WTI was trading down on the day by 4.05%, at $77.55. WTI is down nearly $3.50 per barrel from this same time last week.
Gasoline inventories fell this week by 400,000 barrels, on top of the 357,000 barrel decrease in the week prior.
Gasoline inventories are 2% the five-year average for this time of year, last week’s EIA data shows. Distillate inventories rose this week, by 1.0 million barrels, in contrast to the 2.484-million-barrel draw in the week prior, and are now about 12% below the five-year average for this time of year.
Source: Oilprice.com
Ghana: VRA’s Decision To Spill Excess Water From Akosombo Dam Averted Catastrophe– Energy Minister
Ghana’s Minister for Energy Dr. Matthew Opoku Prempeh has defended the recent decision by the Volta River Authority to undertake controlled spillage of the Akosombo Dam which caused severe flooding in parts of the Volta and Greater Accra Regions.
According to him, the exercise was the only option to prevent the West African nation’s largest hydroelectric power dam from collapsing.
Briefing Ghana’s Parliament on Wednesday, November 8, 2023, about the exercise and measures put in place to bring relief to victims, Dr. Matthew Opoku Prempeh explained that the VRA was forced to take drastic action due to the unusually high levels of water in the dam’s reservoir.
“If the VRA had not been proactive in spilling this year, the water coming into the reservoir would have overtopped Akosombo Dam, which would have had an unimaginable catastrophic impact on the people,” Dr. Opoku Prempeh said.
The Minister acknowledged the disruption caused by the spill but insisted that it was a necessary step to protect the dam and the people downstream.
He also assured the affected communities that the Government is committed to providing relief and support.
The state-owned power generation company, VRA, on September 15, 2023, commenced controlled spillage of the Akosombo Dam due to high inflows into the dam.
The spillage, however, resulted in flooding of some communities downstream, displacing thousands of people with some houses submerged.
As part of its humanitarian efforts, the VRA set aside millions of Ghana cedis to provide relief items to ease the burden of the victims.
Aside from VRA, both public and private institutions and individuals have made substantial donations of relief items to victims, with some radio and television stations still soliciting support for them.
Source: https://energynewsafrica.com
Nigeria: We’re Working With NEITI, Other Stakeholders To Reconcile NEITI’S 2021 Report- NNPC Ltd.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has assured that it will continue to collaborate with the Reconciliation Committee set up by President Bola Ahmed Tinubu to investigate, review and reconcile the financial records on alleged indebtedness to the Federation by NNPC Ltd. and the Federation Accounts Allocation Committee (FAAC).
This is coming on the heels of calls by a non-governmental organisation for a probe of several monies allegedly owed to the Federation by the national oil company.
A statement issued by Olufemi O. Soneye, Chief Corporate Communications Officer argued that the claims by the NGO were baseless, considering the fact that NEITI itself had dismissed many of the allegations in the said 2021 report, following a series of engagements with NNPC Ltd.
According to NNPC Ltd, at the outset of President Bola Ahmed Tinubu’s administration, it was made to sell Premium Motor Spirit (PMS) imported into the country at one-third of its value, a development that gave rise to an average of N400 billion monthly subsidy bills, which subsequently put a strain on its revenues and finances.
It further stated that subsidy bill accumulated to up to N3.736 trillion as of May 31st, 2023.”
With respect to gas-to-power debts, the non-payment of NNPC Ltd.’s share of upstream joint venture gas supplied to the government-owned plants led to the accumulation of indebtedness of N174.07 billion by the Federation.
“Similarly, the receivables due from the federation to NNPC Exploration & Production Limited (NEPL) as of 31st May 2023 amount to $712 million (equivalent to N309.07 billion at N434.08/US$1) for revenues not remitted to NEPL but paid into the Federation account. While the Federation owed NNPC Ltd. the sum of N4.207 trillion as net indebtedness, the Company was only indebted to the Federation in the sum of N2.852 trillion, made up mainly of outstanding Good and Valuable Consideration (GVC) in respect of government upstream divestments, royalties, and Petroleum Profit taxes (PPT).
“We would also like to use this opportunity to clarify that over the years, our relationship with NEITI has been very cordial, as seen in August 2020 when we became an EITI supporting company, joining a group of over 65 extractive companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners committed to observing the EITI’s supporting company expectations,” it said.
“NNPC Ltd.’s book remains open to all our stakeholders as we remain committed to delivering value to Nigerians with integrity and as espoused in our principles of Transparency, Accountability and Performance Excellence (TAPE), the bulwark of the Mele Kyari leadership of the company,” the statement concluded.
Source: https://energynewsafrica.com
Ghana: NPA To Begin Bitumen Regulation In January 2024
The National Petroleum Authority (NPA) is set to commence the regulation of the importation, storage, processing and marketing of bitumen in the country effective January 2024.
The new regulatory framework, which will have inputs from the Ghana Standards Authority (GSA), the Ghana Highways Authority (GHA) and the Customs Division of the Ghana Revenue Authority (GRA), seeks to streamline the bitumen supply chain and to ensure compliance with national quality standards.
The new framework spells out who qualifies to obtain a licence, the national standards for bitumen and guidelines to follow for the supply of the product among other things.
The Director of Economic Regulation and Planning at NPA, Mrs. Alpha Welbeck, who disclosed this at a media briefing in Accra, urged industry players to use the remaining period of 2023 to regularise their operations with the Authority.
“Existing bitumen facilities and new entrants will have to acquire a licence before they will be allowed to operate in the industry beginning 2024,” she emphasised.
The bitumen industry possesses enormous potential to contribute to the growth and development of the economy due to its use in road construction.
Although bitumen is a petroleum product, little has been done in terms of monitoring and regulating the product compared to other petroleum products such as petrol, diesel and LPG.
By way of background, in 2014, a study was carried out to ascertain the supply chain practices and to obtain some baseline information on happenings in the bitumen industry.
Following the study, the NPA, together with stakeholders such as the GHA, GRA–Customs Division, GSA and some existing players, collaborated in the development of guidelines for the supply of bitumen, culminating in a new regulatory framework set to be implemented in January 2024.
A public notice is set to be issued on the requirements for obtaining a licence in the coming weeks to enable existing players and new entrants alike to take the necessary steps in regularising their operations ahead of the 2024 deadline.
Source: https://energynewsafrica.com
Ghana: ECG Begins Nationwide Exercise To Check Integrity And Readings Of Post-Paid Meters
The Electricity Company of Ghana (ECG), the power distribution company responsible for southern Ghana, has begun an exercise to verify the integrity of all post-paid meters and their readings within its operational areas.
The exercise, dubbed: ‘Operation Fix the Bill & Pay the Bill’, started on Monday, November 6, and is expected to end on December 11, 2023.
The power distribution company aims to build confidence in the bills it delivers to customers, capturing the consumption readings to be sure they sync with what ECG agents have been reading, to be able to produce actual bills and collect arrears owed by customers.
This comes on the back of recent lamentations by some customers of ECG that they are being over-billed by the power distributor.
Some of the customers lodged official complaints to the regulator, Public Utilities Regulatory Commission (PURC), to intervene to address their concerns.
Consequently, the regulator wrote to ECG to draw their attention to the issue.
In a press statement issued on Monday, ECG said all regional and district offices would operate with a lean staff to provide essential services to customers during the exercise period.
This, according to them, is to enable total participation by top management and staff.
“ECG wishes to state that the Public Utilities Regulatory Commission’s LI (2413) gives us full access to all our installations, therefore customers and the general public are being advised to cooperate with ECG to carry out our mandate,” it added.
Source: https://energynewsafrica.com
Uganda: Winner Of 60,000 BPD Refinery Project Bid To Be Announced Soon
Uganda is expected to announce the winner of the bid for its new 60,000 barrel per day (bpd) oil refinery project this month, the country’s Minister for Energy and Mineral Development, Dr. Ruth Ssentamu Nankabirwa, has said.
Four companies submitted bids for the project which will be the country’s first oil refinery.
The East African nation is expecting its first oil by 2025.
“The refinery is supposed to receive 60,000 barrels of crude oil every day. I hope out of the four that we have, one will convince us they will fast-track its development,” Nankabirwa said as quoted by Reuters.
Nankabirwa also said the Ugandan government was worried that talks with Chinese insurance company, Sinosure, to help finance the 1,445-kilometre (898-mile) East African Crude Oil Pipeline (EACOP) were taking too long.
She said Sinosure was not moving at the speed that Uganda required, with the Chinese company suggesting it would only announce its final decision on the project by June next year, potentially too late.
“We need just about US$3 billion to conclude the financing of this crude pipeline and the more we delay, the more expensive the project will become,” Nankabirwa said.
Source: https://energynewsafrica.com
Chevron Negotiates 15-Year LNG Supply Deals With European Buyers
U.S. supermajor Chevron is in talks to supply LNG to Europe in deals of up to 15 years as European buyers have moved from spot and short-term supply to longer-term deliveries after the Russian invasion of Ukraine, a Chevron executive has told Reuters.
“European customers want medium-term deals in the up to 15 years space and we’re working on some commercial deals,” Colin Parfitt, head of Chevron’s trading, shipping and pipeline operations, told Reuters.
Before the Russian invasion of Ukraine and the halt of most Russian pipeline gas supply to many European countries, European customers largely preferred LNG supply deals of up to five years or to buy cargoes on the spot market, according to Parfitt.
Now that Europe is relying much more on LNG for its gas supply, the longer-term deals aren’t taboo anymore despite the EU’s net-zero targets and concerns about emissions in the LNG supply chain.
Chevron is expected to supply most of the LNG to Europe from U.S. export terminals.
Qatar, another major LNG exporter apart from the United States, last month signed agreements with three European majors to deliver LNG to Europe from its expansion projects expected to come online in 2026.
QatarEnergy and TotalEnergies signed two long-term LNG agreements under which Qatar will supply up to 3.5 million tons per year of LNG to France for 27 years beginning in 2026.
QatarEnergy also signed another 27-year agreement to ship LNG to Europe by agreeing to deliver cargoes for Eni in Italy beginning in 2026. Under the deal, QatarEnergy and the Italian major will deliver LNG to FSRU Italia, a floating storage and regasification unit located in the port of Piombino, in Italy’s Tuscany region.
Prior to the Eni deal, Qatar announced an agreement with Shell to deliver LNG to the Gate LNG terminal in the port of Rotterdam.
Source: Oilprice.com
Nigeria Brings Major Dangote Refinery To Life With Own Oil Supply
Nigeria’s state oil firm NNPC Ltd will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six cargoes of crude oil in December to be used in test runs, three industry sources with knowledge of the matter said.
The refinery, funded by Africa’s richest man, Aliko Dangote, will transform oil trading in the Atlantic Basin and remove a lucrative outlet for fuels produced in Europe and the United States that have for years powered the cars, trucks and generators on the continent.
The refinery is in the Lekki free trade zone near Lagos. Once it is fully up and running, it will turn oil powerhouse Nigeria into a net exporter of fuels, a long-sought goal for the OPEC member that is currently almost totally reliant on imports.
One of the sources, an NNPC official, who declined to be named, specified six cargoes, or 200,000 bpd, would be supplied in December as part of a one-year deal, adding that volumes in future months would be supplied “based on mutual agreement and availability”.
The other sources said about 4-5 cargoes, or at least 130,000 bpd, were planned.
A Dangote Group official, who did not wish to be named, said “some of the agreements have confidentiality clauses” without elaborating when asked about the NNPC supply deal.
The NNPC official said gasoline and diesel purchases from the refinery would be negotiated in separate contracts at a later date. NNPC has a 20% stake in the refinery.
The refinery began the commissioning process in May this year after running years behind schedule at a cost of $19 billion, above initial estimates of $12-14 billion.
Commissioning includes testing the different units that make products from gasoline to diesel and making sure they respond to the control panels. Experts say it can take months for refineries to move from test runs to producing high-quality fuels at full capacity.
Jeremy Parker, the head of business development for Africa-focused oil consultancy CITAC, said the value of the fuels the refinery produced would gradually improve as it approached full capacity.
“You’d need to keep feeding (the refinery) at a rate of around 325,000 bpd, which is about 10 cargoes a month,” Parker said. “Once they ramp up in subsequent phases to 650,000 bpd, that figure climbs of course, but initially they’d be expected to run around 325,000 bpd.”
Source: Reuters.com
Ghana: Energy Minister, VRA Top Officials Storm Parliament Over Akosombo Dam Spillage Wednesday
Ghana’s Minister for Energy and top officials of Volta River Authority (VRA), managers of the Akosombo and Kpong Hydroelectric Power Dams will, on Wednesday, November 8, 2023, appear in Ghana’s Parliament to brief the House on the Akosombo Dam spillage and respond to questions from the legislators.
The state-owned power generation company, VRA, on September 15, 2023, commenced controlled spillage of the Akosombo Dam due to high inflows into the dam.
The spillage, however, resulted in flooding of some communities downstream, displacing thousands of people with some houses submerged.
As part of its humanitarian efforts, the VRA set aside millions of Ghana cedis to provide relief items to ease the burden of the victims.
Aside from VRA, both public and private institutions and individuals have made substantial donations of relief items to victims, with some radio and television stations still soliciting support for them.
Last week, VRA announced that it had ended the spillage after its monitoring of the situation showed that inflows into the dam had reduced drastically.
Speaking on the floor of Parliament, the Minister for Energy, Dr Matthew Opoku Prempeh, assured that his outfit would provide the necessary accountability to the citizenry.
“Even though VRA is under the Ministry of Energy, we take responsibility. It is a national disaster, an emergency. It is not only affecting people in the South. I would have requested even more time, but since this house also needs to be informed about what is going on and the government’s response activities, I am not the lead government agency.
“There is an inter-ministerial advisory team, but we will take responsibility and come to inform you about what VRA has done and hasn’t done once we have completed everything… And I do pledge that if it is next week Wednesday, I will be here with VRA,” he stated.
Source: https://energynewsafrica.com
Senegal: Kosmos Says Tortue LNG Project Start-up Could Slip Into Q2 24
Kosmos Energy has revealed that the start-up of the BP-operated (BP.L) Greater Tortue Ahmeyim (GTA) gas project offshore Senegal and Mauritania could slip into the second quarter of 2024.
BP last week said that the project was 90% complete and is expected to start production in the first quarter, slightly later than originally planned after BP replaced the contractor for its sub sea pipeline system.
The Floating Production Storage and Offloading (FPSO) for the GTA project is en route to the field and is expected to arrive in the first quarter of next year, Kosmos said in its third quarter earnings results.
Kosmos said that the timing of production start-up now depends on the arrival, hook-up and commissioning of the FPSO as well as the floating liquefied natural gas (FLNG) facility.
“The delivery of first gas in the first quarter of 2024 depends on the execution of this work stream, which has the potential to slip into the second quarter of 2024.”
Source: Reuters.com
Nigeria: Group Sues President Tinubu Over ‘Missing’ US$15 Billion Oil Funds
A group calling itself Socio-Economic Rights and Accountability Project (SERAP) in the Federal Republic of Nigeria has filed a lawsuit against President Bola Ahmed Tinubu over the failure of his administration to probe allegations of missing oil funds and monies budgeted for repair of some refineries in the West African nation.
According to the group, over US$15 billion oil revenues, and N200 billion ($255.9million) budgeted to repair the refineries in Nigeria are missing and unaccounted for between 2020 and 2021.
The group filed the suit against President Tinubu at the Federal High Court in Lagos, last Friday, by three lawyers namely, Kolawole Oluwadare, Andrew Nwankwo, and Ms. Valentina Adegoke.
The group is seeking “an order of mandamus to direct and compel President Tinubu to probe the allegations that US$15bn of oil revenue, and N200bn budgeted to repair and maintain the refineries in Nigeria are missing and unaccounted for.”
It is also seeking “an order of mandamus to compel President Tinubu to direct appropriate anti-corruption agencies to probe allegations of corruption involving the Nigerian Petroleum Development Company Limited, Nigerian Upstream Petroleum Regulatory Commission (NPDC) and State-Owned Enterprises (SOE).”
Additionally, the group is also seeking “an order of mandamus to compel President Tinubu to use any recovered proceeds of corruption to enhance the well-being of Nigerians.”
The group argued that “There is a legitimate public interest in ensuring justice and accountability for these serious allegations. Granting the reliefs sought would end the impunity of perpetrators and ensure justice for victims of corruption.
“The allegations of corruption documented by NEITI undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.”
“The Tinubu government has a constitutional duty to ensure transparency and accountability in the spending of the country’s oil wealth.”
Making a reference to the 2021 report by Nigeria Extractive Industries Transparency Initiative (NEITI), the group said government agencies including the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591 million and $8.251 billion to the public treasury.
“The NNPC and NPDC failed to remit over 70% of these public funds. NEITI wants both the NNPC and NPDC to be investigated, and for the missing public funds to be fully recovered.
“The report also shows that in 2021, the State-Owned Enterprises (SOE) and its subsidiaries (the NNPC Group) reportedly spent US$6.931billion on behalf of the Federal Government but without appropriation by the National Assembly. The money may be missing.
“The NNPC also reportedly obtained a loan of $3 billion in 2012 purportedly to settle subsidy payments due to petroleum product marketers but there is no disclosure of the details of the loan, subsidy and the beneficiaries of the payments.
“The report also shows that N9.73 billion was paid to the NNPC as pipeline transportation revenue earned from Joint Venture operations but the money was neither remitted to the Federation nor properly accounted for. The NPDC in 2021 also failed to remit $7.61 million realized from the sale of crude oil.
“The report documents that about N200 billion was spent on ‘refineries rehabilitation’ between 2020 and 2021 but ‘none of the refineries was operational in 2021 despite the spending.’ NEITI wants the spending to be investigated, as the money may be missing,” the group said in their suit.
The group joined Mr. Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice as Respondents.
No date has been fixed for the hearing of the suit.
Ghana: Ghanaians Urged To Embrace CRM To Prevent Accidents, Improve LPG Access
The Chief Executive of the National Petroleum Authority (NPA), the regulator of Ghana’s downstream petroleum sector, Dr Mustapha Abdul-Hamid, has urged the public to embrace the cylinder recirculation model (CRM) policy to ensure safety and increase access to LPG to 50 percent by 2030.
He said the policy would ensure the existence of robust and standard health, safety and environmental practices in the production, marketing and consumption of LPG.
“What we need to know is that the CRM is here to curb our fear of gas being filled close to our homes,” he said.
Dr. Abdul-Hamid made the call on Friday at the launch of the Consumer Week Celebration in Takoradi in the Western Region of Ghana, on the theme: ‘LPG: Clean Cooking, Healthy Lifestyle’.
The Consumer Week Celebration is observed each year by the National Petroleum Authority as part of the Global Consumer Service Week celebration to educate the public on their rights and responsibilities and how to safely use petroleum products.
The NPA boss said LPG is a cleaner burning fuel that provides smoke-free indoor cooking and helps to reduce outdoor and urban air pollution.
“LPG produces 50% less carbon dioxide (CO2) than coal; 20% less CO2 than heating oil and 10-12% less CO2 than petrol. Gas (LPG) has been accepted as the most dependable transition fuel, especially in our homes. It provides health, environmental and economic benefits, especially to our households,” he said.
Unfortunately, Dr Abdul-Hamid said LPG uptake in the country was low, currently around 37 percent, and needed to be actively promoted.
That, he said, implied that a lot more of the consuming public continuously resort to the age-old charcoal or wood fuel method of cooking despite the enormous benefits of LPG as compared to wood fuel.
“We also need to commence action on addressing alternative livelihood for families that depend on the charcoal business for their livelihood to curb the onslaught on the already depleting forest cover,” he said.
Dr. Abdul-Hamid said the issue of safety had been high on the agenda of President Nana Akufo-Addo’s government, and that had culminated in the introduction and implementation of the CRM.
He noted that the LPG-related accidents in homes were due to a lack of adherence to LPG safety precautions.
He said the NPA was equally concerned about these incidents, hence, the intensification of its public education on the safe use and handling of LPG.
NPA boss urged bulk storage haulage, retailing and domestic handlers of LPG to observe the LPG safety rules to reduce or possibly eliminate the accidents.
In his speech, a Deputy Minister for Energy, Mr. Andrew Egyapa Mercer, said the timing of the promotional and sensitisation drive was significant given the current debate about climate change with its associated environmental and health effects.
He said Ghana needed to play a leading role in discouraging any activity that hurts the environment and affirmed the resolve of the Ministry of Energy to support the NPA and other allied institutions to save the environment.
The Western Regional Minister, Dr. Okyere Darko Mensah, urged the public to avoid complacency and familiarity and uphold the safety rules in dealing with LPG and all petroleum-related products.
Source: https://energynewsafrica.com
The NPA boss said LPG is a cleaner burning fuel that provides smoke-free indoor cooking and helps to reduce outdoor and urban air pollution.
“LPG produces 50% less carbon dioxide (CO2) than coal; 20% less CO2 than heating oil and 10-12% less CO2 than petrol. Gas (LPG) has been accepted as the most dependable transition fuel, especially in our homes. It provides health, environmental and economic benefits, especially to our households,” he said.
Unfortunately, Dr Abdul-Hamid said LPG uptake in the country was low, currently around 37 percent, and needed to be actively promoted.
That, he said, implied that a lot more of the consuming public continuously resort to the age-old charcoal or wood fuel method of cooking despite the enormous benefits of LPG as compared to wood fuel.
“We also need to commence action on addressing alternative livelihood for families that depend on the charcoal business for their livelihood to curb the onslaught on the already depleting forest cover,” he said.
Dr. Abdul-Hamid said the issue of safety had been high on the agenda of President Nana Akufo-Addo’s government, and that had culminated in the introduction and implementation of the CRM.
He noted that the LPG-related accidents in homes were due to a lack of adherence to LPG safety precautions.
He said the NPA was equally concerned about these incidents, hence, the intensification of its public education on the safe use and handling of LPG.
NPA boss urged bulk storage haulage, retailing and domestic handlers of LPG to observe the LPG safety rules to reduce or possibly eliminate the accidents.
In his speech, a Deputy Minister for Energy, Mr. Andrew Egyapa Mercer, said the timing of the promotional and sensitisation drive was significant given the current debate about climate change with its associated environmental and health effects.
He said Ghana needed to play a leading role in discouraging any activity that hurts the environment and affirmed the resolve of the Ministry of Energy to support the NPA and other allied institutions to save the environment.
The Western Regional Minister, Dr. Okyere Darko Mensah, urged the public to avoid complacency and familiarity and uphold the safety rules in dealing with LPG and all petroleum-related products.
Source: https://energynewsafrica.com Nigeria: Power Minister Adebayo Adelabu Involved In Plane Crash
Nigeria’s Minister for Power, Adebayo Adelabu, has been involved in a plane crash, according to a local report.
It is not clear where the Minister was travelling to, but the report said the Minister was onboard a private plane that crash-landed in Ibadan, the Oyo State capital, on Friday evening.
The report said the Minister, three cabin crew and seven passengers onboard were rescued from the damaged aircraft.
There was no loss of life.
“At about 0825hrs of 03/11/2023, an aircraft with registration number 5N-AMM that conveyed the incumbent Minister for Power, Abdul Waheed Adebayo Adelabu, and his entourage crash-landed along runway 22 and skidded off the runway into a nearby bush.
“The control tower reported on the radio that he lost communication with the just-landed aircraft and immediately called on the ARFFS, the AVSE, and other needed airport officials reported almost immediately to the scene.
“The three-cabin crew and the seven passengers were all rescued from the damaged aircraft. All efforts to get details from the pilot proved abortive. Also at the scene were the NAF airport commandant and his team,” Sahara reporters quoted in a report.
“As of the time of filling this report, the aircraft is still in the bush at runway 22 while the security personnel of both AVSEC, ARFFS, Airport Safety team and NAF team were on standby for cover,” the report said.
“The runway lighting system was on as of the time of the arrival. There was no life lost. We could not ascertain the cause of the incident at the point of filing this report. The aircraft skidded off the runway. In conclusion, we are awaiting further investigation,” an official said as quoted.
Source: https://energynewsafrica.com
Nigeria: Future Energies Africa Acquires KEDCo As New Core Investor
Future Energies Africa Limited has acquired Nigerian-based Kano Electricity Distribution Company (KEDCO) as the new core investor and hopes to turn around the fortunes of the struggling disco in the West African nation.
The company has reappointed Ahmed Dangana as Managing Director and inaugurated a new board chaired by Engr Adamu Ibrahim Gumel.
This is contained in a statement issued by Sani Bala Sani, Head of Corporate Communications, on Tuesday, November 2, 2023.
Last month, staff of the company locked KEDCO’s head office and all regional offices in protest of management’s failure to address their welfare issues.
The Chairman of the Board hinted at plans to address challenges faced by KEDCo by creating a modernised electricity distribution system that would enhance service delivery, create a friendly customer atmosphere and reduce AT&C for improved operational efficiency.
Mr. Gumel also assured staff on the security of their jobs and pledged commitment to staff welfare and working conditions, while urging all on to continue commitment and hard work towards achieving the renewed vision.
Source: https://energynewsafrica.com