Several African National Oil Companies (NOC) have inked multiple agreements to enhance collaboration on the expansion of the energy industry as well as oil and gas development and capacity building.
The agreements were facilitated by the African Petroleum Producers Organization (APPO), with all NOCs as members.
The agreements- signed in the Republic of Congo last week – include three memoranda of understanding signed by Congo’s NOC, Société Nationale des Pétroles du Congo (SNPC), two of which with Algerian NOC Sonatrach and one with Niger’s NOC Société Nigérienne des Produits Pétroliers République du Niger (SONIDEP).
Under the terms of the agreement, SNPC and SONIDEP will partner on oil and gas exploration and production while sharing best practices to enhance industrial and operational activities.
Additionally, the agreements signed with Sonatrach cover training and the optimization of human capital, with the parties’ expanding cooperation in these areas.
Sonatrach also entered into agreements with the National Hydrocarbon Company of Benin; the Ghana National Petroleum Corporation; and the Democratic Republic of Congo’s NOC, SONAHYDROC, details of which are yet to be announced.
“These specialized conventions in the field of oil and gas complete a process of formalization of training actions initiated by the Algerian Petroleum Institute of SONATRACH with other oil companies that are members of APPO,” stated SONATRACH in a press statement.
The Office of Special Prosecutor in the Republic of Ghana has ordered managers of Ghana’s premier oil refinery, Tema Oil Refinery (TOR) to immediately suspend the ongoing processes to lease the refinery to a recently formed private company Tema Energy and Processing Limited formerly Torentco Asset Management Company.
A letter signed by the Special Prosecutor, Kissi Agyabeng and addressed to Daniel Osei Appiah, the Acting Managing Director said the anti-corruption body has commenced an analysis of the risk of corruption in respect of the proposed partnership.
The letter directed the company to furnish the OSP with all relevant documents in connection with the proposed agreement by 5 December.
“You are directed to immediately suspend the proposed partnership agreement, ongoing negotiations, operations and all other ancillary activities arising out of and consequent upon the proposed partnership agreement until you are otherwise advised by the Special Prosecutor.”
“You are further directed to furnish the OSP with all necessary documents in respect of the proposed partnership agreement. This directive should be complied with on or before the close of business on Tuesday 5 December 2023,” the letter said.
The order follows a petition submitted by the umbrella body of transport, petroleum and chemical workers union in which they accused the Board of TOR and Management of side-stepping qualified entities and rather opting for a company with no track record to run the refinery.
The petition by the General Transport, Petroleum, and Chemical Workers Union of the Trades Union Congress (TUC) Ghana dated October 19, 2023, narrated how Decimal Capital which was selected as strategic partner of TOR kept changing its name to Tema Energy and Processing Limited.
“We wish to request that your highly esteemed office investigates and intervenes in the ongoing lease arrangement of Tema Oil Refinery to Torentco Asset Management Limited, now Tema Energy and Processing Limited, with the same individuals involved.”
The Union argued that “the actions of the individuals behind Tema Energy and Processing Limited seek to induce workers of TOR with 20% of its shares through misrepresentation of workers in an entity by the name “TOR Workers Charity Trust” that never existed nor heard of at TOR, apart from the five individual directors and direct beneficiaries of this trust.”
The workers group noted that besides the due diligence report that described Torentco Asset Management Limited as not having the requisite capacity and credibility to undertake that which they sought to do, the report also established their lack of partners with the requisite capacity and credibility.
They expressed fear that the country might be short-changed because the Board of Directors of TOR has been compromised in the deal.
“We are tempted to believe the BoDs have been compromised to short-change the country, Ghana.
Otherwise, why will the BoDs be adamant in the face of all these red flags even when entities such as Falcon American Oil and Legacy Capital have also approached the management of TOR with very lucrative and compelling proposals, the BoD and Management have been resolute in ensuring that regardless of all the red flags, they will lease TOR to Torentco/TEPL for six (6) years.”
They added, “In the spirit and letter of the whistle-blowers’ Acts, we want to officially petition your outfit as our last option, having written to the Ministry of Energy, the Parliamentary Select Committee on Mines and Energy, SIGA, the Public Procurement Authority, the Ministry of Justice and the Attorney General department and the Ministry of Finance for their respective intervention for the prevention of a possible replica of ECG/PDS scandal.”
Meanwhile, speaking to the acting Managing Director of TOR, Daniel Appiah via phone he explained that Torentco Asset Management Limited now Tema Energy Processing Limited put together a technical team to facilitate the leasing arrangement.
He said TOR Board has only approved the preparatory activities of the technical team of TEPL because of limited time explaining that there are conditions precedent which have to be fulfilled before the signing of the lease agreement.
Ghana is undertaking a comprehensive review of its fiscal regime in the upstream petroleum industry as part of plans to make oil exploration and production more attractive to investors.
This is due to the energy transition which is limiting investment in the oil and gas sector across the world.
The West African nation began commercial oil production in 2010 and produces around 150,000 barrels per day from three oilfields.
In 2018, the country organised the first licensing bid round for six oil blocks and it attracted several international oil companies but could not hit a deal as most of the International Oil Companies(IOCs) pulled out in a move that surprised most industry watchers.
With lessons learned from the bid rounds, Ghana has revised its notes and taken several steps including investing in seismic data acquisition, to guide investors and engaging potential investors in direct negotiations.
Currently, Ghana has six oil blocks available for grabs and the upstream regulator says three of the blocks are for direct negotiations while the remaining three are for farm-in.
Addressing industry players at a two-day data management workshop in Accra on November 16 &17, 2023, the Chief Executive Officer of the Petroleum Commission, Egbert Faibille, outlined some of the issues that have arisen following the implementation of the existing fiscal regime.
He mentioned nuisance Front- End Load Elements, complex additional oil entitlement, size fits all regime, fixed and regressive royalty, strict ring-fencing rules, uncapped cost recovery, and difficulties in administration as some of the issues.
To address the challenge of the non-flexible and regressive nature of Ghana’s royalty regime, Mr. Faibille said a two-tier royalty rate scheme has been proposed.
He explained that the two-tie scheme adopts some carefully calibrated flexible and progressive sliding scale royalty rates which are, at the same time, sensitive to risk factors such as water depth, production volume and crude oil price.
“As opposed to a fixed royalty scheme, a sliding scale royalty scheme is progressive and incentivizes fixed development of all sizes, water depth, and in volatile price environment without having to re-negotiate fiscal terms. These two royalty schemes are proposed to replace AOE,” Mr. Faibille told the gathering.
Mr. Faibille said his outfit had forwarded their proposal to the Ministry of Energy for discussion and the way forward.
Source: https://energynewsafrica.com
Access Bank PLC, in collaboration with Asolar, has launched a green energy solution to tackle power supply challenges faced by the small and medium enterprises across Nigeria.
The products, which included solar-powered TV sets, Air Conditioners, PoS machines, among many others, was launched on Tuesday at the Access Bank Branch in Garki, Abuja.
Speaking during the unveiling ceremony tagged: ‘Light up your community’, the Access Bank deputy managing director, Victor Etuokwu, said the inconsistent power supply has become a major obstacle to businesses and livelihoods in the country.
Mr. Etuokwu who represented the bank’s director regional services, Neka Adogu, said the initiative was aimed at promoting financial inclusion in rural areas.
He said: “This inconsistent power supply poses a substantial challenge for small and medium enterprises [SMEs] as well as initiatives aimed at promoting financial inclusion in rural areas, which is considered a yardstick for economic growth in Nigeria.
“Currently, in Nigeria, owners of SMEs spend huge sums in procuring generating sets, purchasing fuel, and the maintenance of generators to operate their business successfully.
“Furthermore, in the broader context of financial inclusion, the absence of power accessibility becomes a critical barrier.
“Dependable electricity is a fundamental prerequisite for implementing modern financial services like digital banking and payment systems, particularly in underserved rural areas.
“This disparity in power access widens the financial gap, impeding initiatives aimed at providing banking and financial services to those who are most in need.
“Through this partnership, we embark on a transformative journey to introduce cost-effective and dependable solar-powered solutions tailored specifically for small and medium businesses.
“By harnessing the potential of solar energy, we aim to untether these businesses from the shackles of unreliable power sources and offer promising alternatives to traditional generators reliant on expensive and polluting fossil fuels.
“By providing access to affordable solar-powered solutions, we endeavour to significantly reduce operational costs, enhance productivity, and catalyse growth for these enterprises.
“Access Bank PLC’s collaboration with ASOLAR is not merely transforming power solutions; it is utilising our Access CLOSA Agent Network platform as the digital payment provider,” he said.
In his remarks, the Chief Executive Officer of Asolar, Hakeem Shagaya, said the company was committed to ensuring every citizen has access to reliable and sustainable energy.
While appreciating the management of the bank for the collaboration, Mr. Shagaya noted that the initiative is in line with the sustainable development goals on clean and renewable energy.
“As we embark on this journey towards Access Green Energy, let us not overlook the profound impact on our environment. This initiative is not just about illuminating homes; it is about lighting the way for a greener and cleaner tomorrow.
“The Solar Home Systems represent a commitment to environmental stewardship, reducing carbon footprints, and actively contributing to the global fight against climate change.
“The positive environmental impact extends beyond emissions reduction, encompassing the preservation of ecosystems, the promotion of biodiversity and the creation of a more sustainable and resilient planet for future generations.
Earlier, Chizoba Iheme, Group Head, Financial Inclusion, Access Bank Plc, disclosed that the bank has over 300,000 Access agents across the country to facilitate the distribution.
American oil and gas firm, Kosmos Energy has expressed commitment to collaborate with Senegal’s government and National Oil Company, Petrosen to develop an offshore Liquefied Natural Gas (LNG) facility for the country’s flagship Yakaar-Teranga gas project.
The development concept will focus on the delivery of cost-competitive gas to Senegal’s domestic market combined with exports to international markets.
Serving as one of the world’s largest gas discoveries in recent years and holding an estimated 25 trillion cubic feet of natural gas in place, the LNG facility is poised to produce approximately 550 million cubic feet of gas per day.
Domestic gas will be transported via a pipeline while export volumes will be liquefied on a Floating LNG vessel.
“The project is expected to deliver LNG export volumes to global markets, further establishing Senegal as an important and reliable supplier of energy to the world,” Kosmos Energy Chairman and CEO, Andrew G. Inglis said.
The concept for the facility development project is currently being optimized to meet domestic and international LNG requirements. Once the concept optimization has finished, the project will move into the Front-End Engineering Design phase.
“Yakaar-Teranga is a strategic project and a key asset for the government’s ‘Gas-to-Power’ and ‘Gas-to-Industry’ initiatives, which aim to provide affordable, abundant, and cleaner energy as part of the country’s ‘Plan
The Nigerian National Petroleum Company (NNPC) Ltd. has emerged as the 2023 Best Innovative Company of the Year at the just ended 41st Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition held at the Eko Hotel, in Lagos, on Thursday.
The award, which was in recognition of the outstanding performance of NNPC Ltd., was presented to the Company at the closing ceremony of the Association’s 2023 Conference & Exhibition.
Speaking shortly after receiving the award, on behalf of NNPC Ltd., Martina Atuchi, Executive Director, Business Services, NNPC EnSERV, said that the award would further spur the company to achieve more in its quest to deliver value to Nigerians and other stakeholders.
She further thanked NAPE for providing a veritable platform on which leading players within the nation’s energy landscape converge annually to exchange ideas, share insights, and discuss the future of the energy Industry.
The Public Utilities Regulatory Commission (PURC), on Friday, received ‘Innovation Project of the Year Award’ at the 7th edition of the Ghana Energy Awards held at the Labadi Beach Hotel in Accra.
The event, which celebrates excellence and innovation in the energy sector, recognized PURC for its outstanding achievements and contributions to the industry.
It brought together Industry Professionals, Government Officials, and key stakeholders from the energy sector.
It was under the theme: ‘Ghana’s Energy Transition Framework: Sector Institutions as Building Blocks for the 2030-2040 Targets.’
The Guest of Honour, H.E President Nana Akufo- Addo, praised the institutions and personalities who emerged winners during the event for their beautiful contributions towards advancing the country’s energy sector, which is a significant catalyst for economic progression.
The ‘Innovation Project of the Year’ further highlights PURC’s dedication to embracing cutting-edge technologies and implementing innovative solutions.
This recognition showcases the Commission’s ability to adapt to the ever-evolving energy landscape and find creative ways to address challenges.
Given this prestigious award, PURC remains dedicated to ensuring fair and efficient regulation of public utilities. With a renewed sense of purpose, the Commission will continue to drive the energy sector forward, fostering sustainability, reliability, and affordability for all consumers.
As the energy industry continues to evolve, PURC stands poised to lead the way, spearheading transformative initiatives and setting new benchmarks for excellence.
This recognition at the Energy Awards is a testament to PURC’s exceptional achievements in the energy sector.
Source: httts://energynewsafrica.com
The Gambia is currently embarking on a journey to embrace renewable energy, particularly solar and wind power, as well as exploring prospects for green hydrogen production.
Aligned with the vision laid out by its National Development Plan (NDP), the country aims to increase the share of renewable energy in its mix from 2% to 40% by 2025.
Its comprehensive strategy holds the promise of a cleaner and more sustainable energy future, while harmonizing with the shared goal of the MSGBC region to eradicate energy poverty.
The Gambia boasts immense solar power potential, with approximately 3,000 hours of annual sunshine per year and a minimum daily solar production capacity of 4 KWh of solar power radiation per m2.
When it comes to wind power, The Gambia benefits from favorable conditions, with wind speeds ranging from 3.4 meters per second (m/s) to 4.2 m/s at a height of 30 m, particularly in locations like Kanuma and Jambanjelly near the coast, where free winds flow in from the sea. However, the current utilization of renewable resources in the country remains underdeveloped.
According to the International Renewable Energy Agency (IRENA), The Gambia only had 2 MW of installed solar photovoltaic capacity at the close of 2022. Similarly, in the realm of wind energy, only small-scale projects initiated by private investors and non-governmental organizations are currently in operation.
As a result, the government has been proactively pursuing the development of renewable resources, establishing The Gambia Renewable Energy Center that facilitates research and development in the sector and collaboration with various stakeholders.
The West African country has subsequently attracted substantial investments from international lenders, including the European Investment Bank and World Bank.
Through The Gambia Electricity Restoration and Modernization Project, both institutions are financing a 23 MW solar project in Jambur within the West Coast Region, to be constructed by national utility NAWEC.
The project aims to increase installed renewable generation capacity and transmission network efficiency, facilitating increased electricity access and aligning with the NDP and The Gambia Electricity Sector Roadmap.
Meanwhile, the German Federal Ministry of Education and Research is actively engaged in renewable energy development through The Renewable Energy Potentials in The Gambia Project, initiated in 2021, which aims to provide training in renewable energy technologies to over 200 Gambians.
In recent months, The Gambia has also directed its focus to green hydrogen production, driven by ample solar and wind resources, as well as its coastal location that enables easy access to water for electrolysis.
In September 2023, Swiss renewable energy firm NEK Umwelttechnik AG inked a Memorandum of Understanding (MoU) with The Gambian government to develop a 200 MW onshore and 350 MW offshore wind farm, with the potential to fuel future green hydrogen production.
With commissioning anticipated by 2027, the wind projects would represent the first clean, sustainable and domestic source of power for the country.
One month later, the government signed another MoU with H2 Gambia Limited, a subsidiary of the UK-based HydroGenesis Group, at African Energy Week 2023 in Cape Town to further explore the commercial prospects for hydrogen production.
Renewable energy and green hydrogen present a dual solution to The Gambia’s energy deficit.
In addition to low electrification rates, the country faces high electricity tariffs, averaging $0.23 per kWh in 2023.
As a result, new installed renewable capacity could decrease costs to as low as $0.033 per kWh for onshore wind, $0.049 per kWh for utility-scale solar photovoltaic, and $0.081 per kWh for offshore wind, according to IRENA.
Reduced costs will ensure more affordable access for Gambians, especially in rural areas that are well suited to decentralized and off-grid solutions. Meanwhile, surplus power has the potential to be exported to the West African Power Pool, benefiting neighboring MSGBC countries like Guinea-Bissau and Guinea-Conakry.
The Gambia’s green energy revolution, its commercial potential for green hydrogen production and more will be explored at the upcoming MSGBC Oil,Gas & Power 2023 conference and exhibition.
The two-day event will take place in Nouakchott on November 21-22, under the esteemed patronage of Mauritanian President Mohamed Ould Ghazouani and the participation of Abdoulie Jobe, Minister of Petroleum and Energy of the Republic of The Gambia.
Source:Energycapitalpower
Angola’s request for bids from oil and gas investors for 12 oil blocks in the Lower Congo and Kwanza basins attracted 53 bids as the close of bid on November 15, 2023, energynewsafrica.com can report.
Out of the total 53 bids received by Angola’s national concessionaire, the National Oil, Gas and Biofuels Agency (ANPG), 22 bids were submitted for four blocks in the Congo Basin.
The 22 bids were submitted for CON 2, CON 3, CON 7 and CON 8 blocks.
Block CON 8 alone received ten bids, four of which were for operatorship of the block.
Interestingly, 31 bids were submitted for blocks in the Kwanza Basin namely, KON 7, KON 10, KON 13, KON 15 and KON 19 blocks.
Of the bids submitted, 22 were for operatorship.
Blocks KON 1, KON 3 and KON 14 received no interest.
“With this tender, we mark another safe step in the process of exploration and production of hydrocarbons in the onshore areas of the Lower Congo and Kwanza basins, attracting companies with proven experience and accumulated knowledge…in basins with recognized geological complexity,” remarked José Barroso, Angola’s Secretary of State for Oil and Gas.
ANPG will evaluate the bids received, a process which is anticipated to be finalized by 31 December 2023. The results of the onshore tender are expected to be announced by mid-January 2024, following which negotiation with companies will commence.
ANPG expects negotiations to be complete by March 2024.
Paulino Jerónimo, President of the Board of Directors of the ANPG underscored that the onshore round is the “fourth time since the creation of the ANPG in February 2019 that we have opened the doors to [collectively] follow one of the determining stages that will lead to the concession of oil blocks.”
The Chief Executive Officer of J.K Horgle Transport and Company Ltd, a petroleum haulage transportation company in the Republic of Ghana on Friday received a Transformational Business Excellence in Oil and Gas Downstream Award at the 7th Edition of Ghana Energy Awards held at the Labadi Beach in Accra.
Mr. Joseph Kwaku Horgle, who is a giant in the petroleum downstream in Ghana, was recognized for his vision, resilience and entrepreneurial skills for growing a small petroleum company to become an international company.
This is one of the many awards being received by Mr. JK Horgle.
From a humble beginning with about three heavy-duty trucks in the 1970s, Mr. Horgle has grown his petroleum haulage business and currently boasts over 500 heavy-duty trucks.
Started in the early 70s and incorporated in 2001, JK Horgle Transport and Company Limited has grown from a National to an international business carting Petroleum and Allied Products across West Africa for a multinationals and local Oil Marketing Companies.
Currently, the company directly employs over 600 staff with heavy investment in well trained and experienced drivers and support staff.
This year’s Ghana Energy Awards was on the theme: ‘Ghana’s Energy Transition Framework: Sector Institutions As Building Blocks For The 2030-2040 Targets’.
President of Ghana H.E Nana Addo Dankwa Akufo-Addo was the Special Guest and it was attended by hosts of industrial professionals, policy makers and civil society groups in the energy sector.
Commenting on the award Elinam Horgli, Deputy Managing Director of JK Horgle Transport & Company Limited said the award was well deserved stating that the CEO has over forty years experience in the petroleum downstream industry.
She said Mr. Horgle understands the industry very well and he is able to predict the consequences or implications of decisions in the industry.
According the petroleum downstream industry employs close to 10,000 people noting that these people also have depends and cautioned policy makers against decisions that can affect the industry.
Mr. Joseph Kwaku Horgle, Chief Executive Officer of JK Horgle Transport & Company Limited.
Elinam Horgli urged the regulator, National Petroleum Authority (NPA) to ensure that the downstream industry continues to remain a preserve for Ghanaians saying due to the local content law governing the industry some Ghanaian companies have been able to grow to become giants.
Source:httts://energynewsafrica.com
South Africa’s Minister for Electricity Kgosientsho Ramokgopa, says the transmission financing project is currently at an advanced stage and will be presented in the next cabinet sitting.
He said the transmission financing seeks to source additional funding beyond Eskom’s balance sheet and the treasury.
According to him, this is important because for the transmission division to be accelerated, it would need about R390 billion.
“We know that for us to be able to accelerate the rollout, the expansion, and the strengthening of transmission, we need anything upwards of R390 billion.
Like I said, the financing facility that has been made available within the context of the jet IP will be part of the totality of the resources that are available to help us address the requirements on the transmission, and of course we’ll expand the flow of those sources to go beyond what the international partner groups are offering,” he said as quoted by Sabcnews.com
Minister Ramokgopa said power cuts have been ramped up in order to replenish emergency generation reserves, which have been depleted faster than expected due to further breakdowns of some generating units.
Eskom says that Stage 3 load shedding is expected until 5 a.m. tomorrow morning.
He says at least five units are expected to return to service tonight.
“From November 13 to November 17, the capacity was still significantly lower.
On account of unplanned capacity loss, the rate of failure of these units have been a bit more acute.
We do expect that units will fail from time to time, but we will ensure that we are able to address that. If we had not experienced that, we would not see the kind of intensity of load shedding that we are experiencing”, he said.
Source:sabcnews.com
Senegalese National Electricity Company (SENELEC) has signed a power purchase agreement (PPA) with Infinity Power.
The contract covers the installation of an electricity storage system for the Taïba N’Diaye wind farm in the Thiès region of western Senegal.
In Senegal, the project to build an electricity storage system for the Taïba N’Diaye wind farm is taking shape.
The project’s developer, Infinity Power, which continues to operate the wind farm after taking over Lekela Power, has just signed a power purchase agreement (PPA) with Senegal’s national electricity company (SENELEC).
The 20-year capacity change agreement paves the way for the construction of the storage system at the Tobène substation in the Thiès region.
The system will be capable of storing 40 MW of electricity, which will “enable the electricity grid to harness all available wind energy and provide ancillary services such as frequency regulation, reactive power support, and energy charging and discharging”, says Infinity Power.
The storage batteries, with a combined capacity of 175 MWh, will be housed in 45 40-foot (21m) shipping containers.
According to Infinity Power, installation of the system will begin in 2024 at the Tobène substation, with commissioning scheduled for 2025. According to Infinity, the storage system will reduce carbon dioxide (CO2) emissions by around 37,000 tonnes a year.
The Taïba N’Diaye wind farm consists of 46 turbines supplied and installed by Danish company Vestas Wind Systems.
The facility has a capacity of 158.7 MW, making it the largest wind farm in West Africa. This capacity represents 15% of Senegal’s installed electricity capacity of 1,555 MW, according to Power Africa.
The wind farm feeds its output into the SENELEC grid. The park is capable of supplying power to 2 million people in Senegal, while avoiding emissions of 300,000 tonnes of CO2 equivalent per year.
Source:Africa-energy-portal
Thirteen ex-executives of Petroleum Tanker Drivers branch of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have been remanded into prison custody by an Abuja High in the Federal Republic of Nigeria, on charges of assault.
The ex-executives allegedly assaulted the national president of NUPENG, Williams Akporeha, and two others.
The accused persons were remanded into prison by the presiding judge Justice Yusuf Halilu on a five-count criminal charge on Friday, November 17, 2023.
They were put on trial by the Inspector General of Police for allegedly beating up Akporeha and Wale Afolabi, respectively, NUPENG’s president and general secretary, and the newly elected national chairman of PTD, Augustine Egbon.
Those arraigned include former national chairman of PTD, Lucky Osesua, his deputy, Dayyabu Yusuf Garga, Humble Obinna, Akinolu Olabisi, Godwin Nwaka, and Tiamiu Sikiru.
The rest are Abdulmimin Shaibu, John Amajuoyi, Zaira Aregbo, Patrick Erhivwor, Stephen Ogheneruemu, Gift Ukponku, and Sunday Ezeocha.
According to the case (marked FCT/HC/CR/042/2023), the defendants, on November 1, 2023, laid siege at the PTD office at No. 50 Moses Majekodunmi Crescent, Utako District, against Akporeha, Afolabi, Solomon Kilanko, and Augustine Egbon and committed an offence punishable under Section 114 of the Penal Code Act, 2004.
They were accused of acting in a manner likely to cause the deaths of Akporeha and Egbon, an offence punishable under Section 229 of the Penal Code Act, 2004.
They were also accused of voluntarily causing grievous bodily harm to their victims.
The defendants, however, pleaded not guilty to the charges, after which the prosecution counsel, Frank Longe, applied for a date to begin their trial.
Lead counsel to the accused persons, Chris Oshomogie, SAN, orally applied for the bail of his clients, claiming that the offences they allegedly committed are bailable.
However, the court rejected the oral bail application, ordered him to file a final application and adjourned until November 21 for trial.
Justice Yusuf ordered that the 13 defendants be moved to Kuje prison in Abuja on remand pending the determination of their request for bail.
The Court adjourned till November 21, for commencement of trial.
The Managing Director of Bulk Energy Storage and Transportation (BEST) Company Limited, formerly BOST, Edwin Alfred Provencal, was on Friday night crowned as the 2023 Energy Personality of the Year at the 7th edition of Ghana Energy Awards held at the Labadi Beach Hotel in Accra, the capital of Ghana.
He faced stiff competition from Dr. Ben K.D Asante , CEO of Ghana National Gas Company; Dr Ismael Ackah Ph.D, Executive Secretary of Public Utilities Regulatory Commission (PURC), Joseph Kweku Horgle, Chief Executive Officer of JK Horgle Transport & Company; Michael Bozumbil, Chief Executive Officer of Petrosol Ghana , Samuel Kofi Dzamesi, Chief Executive Officer of Bui Power Authority and Dr. Mustapha Abdul-Hamid, Chief Executive Officer of National Petroleum Authority (NPA).
Last year Mr. Provencal was crowned the petroleum sector CEO of the year 2022 at the 6th Edition of Ghana Energy Awards.
BOST is a state-owned petroleum strategic stock company mandated to keep strategic stocks for the West African nation.
Mr. Provencal was appointed Managing Director of BOST in August 2019 by President Akufo-Addo after the late George Mensah Oakley was relieved of his position as MD of the company.
At the time he assumed office, BOST’s assets, such as pipeline infrastructure, storage tanks, barges, tugboats and other vital installations had been abandoned for years without repairs.
Besides, BOST was saddled with huge legacy debts which dated back under the previous government.
However, the sordid state of the company had changed with the company seeing massive improvements.
From a loss-making company, BOST has seen a turnaround with the company posting Gh¢31 million profit in 2020, Gh¢161 million profit in 2021 and a net profit of Gh¢342 million in 2022.
President of Ghana, Nana Akufo-Addo presented the award to Mr. Edwin Provencal.
The award came along with a beautiful, designed stool bearing the inscription Energy Personality of the Year.
Apart his award, BOST was also adjudged Energy Company of the year.
Commenting on the award, Mr. Provencal praised the board and management team of the company for their wonderful contributions towards turning around the fortunes of the company.
He assured that there is no turning back stating that State Owned Enterprises have what it takes to be profitable as evidenced by the performance of BOST over the last couple of years.
“Immensely proud and humbled by the honors received at the Ghana Energy Awards last night. I was awarded Energy Personality of the Year, with BOST winning Petroleum Company of the Year. Thanks to H.E. President Akufo-Addo for the recognition, and to my team at BOST for their exceptional work.
“Congratulations to all the awardees for their inspiring achievements. Grateful to the Ghana Energy Awards for this esteemed acknowledgment, driving our commitment to excellence in the energy sector,” Mr Provencal wrote on his Facebook page.
Source: https://energynewsafrica.com
President of Ghana H.E Nana Addo Dankwa Akufo-Addo was the Special Guest and it was attended by hosts of industrial professionals, policy makers and civil society groups in the energy sector.
Commenting on the award Elinam Horgli, Deputy Managing Director of JK Horgle Transport & Company Limited said the award was well deserved stating that the CEO has over forty years experience in the petroleum downstream industry.
She said Mr. Horgle understands the industry very well and he is able to predict the consequences or implications of decisions in the industry.
According the petroleum downstream industry employs close to 10,000 people noting that these people also have depends and cautioned policy makers against decisions that can affect the industry.
Mr. Provencal was appointed Managing Director of BOST in August 2019 by President Akufo-Addo after the late George Mensah Oakley was relieved of his position as MD of the company.
At the time he assumed office, BOST’s assets, such as pipeline infrastructure, storage tanks, barges, tugboats and other vital installations had been abandoned for years without repairs.
Besides, BOST was saddled with huge legacy debts which dated back under the previous government.
However, the sordid state of the company had changed with the company seeing massive improvements.
From a loss-making company, BOST has seen a turnaround with the company posting Gh¢31 million profit in 2020, Gh¢161 million profit in 2021 and a net profit of Gh¢342 million in 2022.
President of Ghana, Nana Akufo-Addo presented the award to Mr. Edwin Provencal.
The award came along with a beautiful, designed stool bearing the inscription Energy Personality of the Year.
Apart his award, BOST was also adjudged Energy Company of the year.
Commenting on the award, Mr. Provencal praised the board and management team of the company for their wonderful contributions towards turning around the fortunes of the company.
He assured that there is no turning back stating that State Owned Enterprises have what it takes to be profitable as evidenced by the performance of BOST over the last couple of years.
“Immensely proud and humbled by the honors received at the Ghana Energy Awards last night. I was awarded Energy Personality of the Year, with BOST winning Petroleum Company of the Year. Thanks to H.E. President Akufo-Addo for the recognition, and to my team at BOST for their exceptional work.
“Congratulations to all the awardees for their inspiring achievements. Grateful to the Ghana Energy Awards for this esteemed acknowledgment, driving our commitment to excellence in the energy sector,” Mr Provencal wrote on his Facebook page.
Source: https://energynewsafrica.com