Ghana: Petrol, Diesel Prices Fall Marginally

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Some Oil Marketing Companies in the Republic of Ghana have adjusted their pump prices downward for both petrol and diesel for the second pricing window of February, which runs from the 16th to the 28th of February 2025. Petrol (gasoline) price has been reduced by about 34 pesewas while diesel witnessed a reduction of about 21 pesewas. During the first pricing window, petrol was sold between Gh¢16.23 and Gh¢15.15 per litre, while diesel was sold between Gh¢16.20 and Gh¢15.15. However, on Tuesday, some oil marketing companies adjusted their prices for the second pricing window, with petrol selling between Gh¢15.89 and Gh¢ 15.15 while diesel is selling between Gh¢15.99 and Gh¢15.15 per litre. The reduction in fuel prices is attributable to a reduction in prices of refined petroleum products on the international market. Despite the decline in the price of refined petroleum products on the world market, the local currency cedi, which is one of the key determinants of fuel prices, has continued to depreciate against major international currencies, especially the United States dollar. As of 14th February 2025, the average interbank exchange rate for a US dollar was Gh¢15.5078. In other parts of Africa, fuel prices are reviewed monthly. In Ghana, the review period has been revised from every two weeks to daily adjustments by Oil Marketing Companies, based on fluctuations in key factors such as exchange rates, refined petroleum product costs and inflation. GOIL is selling petrol (Ron 91) at Gh¢15.65 per litre while petrol (Ron 95) is sold at Gh¢15.76, with diesel being sold at Gh¢15.79 per litre. Shell is selling petrol at Gh¢15.89 per litre while diesel is sold at Gh¢15.99 per litre. TotalEnergies is selling both petrol and diesel at Gh¢15.99 per litre. Star Oil is selling petrol (Ron 91) at Gh¢15.27 per litre while petrol (Ron 95) is sold at Gh¢15.57, with diesel being sold at Gh¢15.27 per litre. Allied is selling both petrol and diesel at Gh¢15.10 per litre. Benab is selling both petrol and diesel at Gh¢15.15 per litre. Goodness is selling both petrol and diesel at Gh¢15.10 per litre. Puma is selling petrol at Gh¢15.40 while diesel is sold at Gh¢15.56 per litre. Engen is selling both petrol and diesel at Gh¢15.99 per litre. Petrosol is selling petrol at Gh¢15.64 and diesel at Gh¢15.89 per litre.                   Source: https://energynewsafrica.com

Egypt Strengthens Partnership With Baker Hughes To Boost Oil And Gas Sector

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Egyptian Minister for Petroleum and Mineral Resources, Eng Karim Badawi, has held a bilateral meeting with Lorenzo Simonelli, the CEO of Baker Hughes International Company, on the sidelines of the Egypt International Energy Conference 2025. The meeting aimed to review Baker Hughes’ projects and plans for business development in Egypt’s oil and gas sector. During the session, the participants discussed cooperation in various areas, including production from new fields, exploration, energy transformation projects, emissions reduction and geothermal energy. The Ministry’s efforts to maintain a sustainable supply of fuel and natural gas to the local market were also highlighted. Mr Simonelli expressed his appreciation for the successful partnership with the Egyptian oil sector, citing the crucial role of the Egypt Digital Portal in providing outstanding investment opportunities. He also announced Baker Hughes’ plans to cooperate with private sector partners in thermal energy projects in the Gulf of Suez, Sinai and Eastern Desert regions. The meeting demonstrates Egypt’s commitment to strengthening its oil and gas sector through international partnerships and digital transformation. With the Egypt Digital Portal playing a vital role in attracting investments, Egypt is poised to become a regional hub for energy production and export.     Source: https://energynewsafrica.com

Brazil Joins OPEC+

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Brazil has joined OPEC+ two years after the group extended an invitation, but its membership will not be binding with regard to production cuts, the country’s energy minister said. At the announcement of the Brazilian government’s decision to join the group, Mines and Energy Minister Alexandre Silveira described OPEC as “a forum for discussing strategies among oil-producing countries. We should not be ashamed of being oil producers. Brazil needs to grow, develop and create income and jobs,” the AP reported. Brazil is already one of the biggest oil producers in the world but it has ambitions to climb in the ranks to the number-four spot from number seven, with a production target of 5.4 million barrels daily for 2030. Brazil has also been a focal point for non-OPEC production forecasts, regularly named alongside the United States, Canada, and Guyana as a hotspot for non-cartel production growth. Now, this will change even though the new OPEC+ member is under no obligation to comply with the OPEC+ production cuts. OPEC’s production, meanwhile, has been declining. The group booked dips for both December and January, with the January rate down by 50,000 bpd from December’s daily average of 26.53 million barrels, according to a Reuters survey. Supply from Iran and Nigeria dropped by 60,000 bpd each, the most among OPEC producers, according to the survey. The oil producer group was scheduled to start relaxing these production cuts starting in April but there have been reports that the rollback of the output caps could be delayed once again, in line with OPEC’s prioritization of actual market conditions rather than an agenda set in stone. With oil prices wobbly amid U.S.-Russia negotiations that could lead to the lifting of U.S. sanctions, OPEC will likely not be in any rush to stick to its plans for boosting production, seeing as these plans are very flexible to serve the purposes of the group.   Source: Oilprice.com

Ghana: Alex Mould Named New CEO Of MiDA

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A former Chief Executive Officer of Ghana National Petroleum Corporation (GNPC) Alex Kofi Mould has been appointed as the new Chief Executive Officer of Millennium Development Authority (MiDA). Mould who is a seasoned finance and energy expert with over three decades of experience in finance, energy, and governance, assumed his new role today. With a proven track record of excellence in both the private and public sectors, Mould brings a wealth of expertise to MiDA. During his inaugural address, he emphasized his collaborative leadership style, acknowledging the experience within the organization. “I am, first and foremost, a people person,” Mould stated, expressing his readiness to learn from the existing team. “I will be relying heavily on your expertise and institutional knowledge to bring me up to speed so we can collectively deliver the results expected from this important institution.” At MiDA, he is expected to bring a fresh perspective on aligning the institution’s objectives with the government’s development priorities. Hence, a key focus of Mould’s vision at MiDA, involves strengthening the organization’s alignment with government’s initiatives, particularly the proposed 24-hour economy program. He outlined plans to engage in substantive discussions with government stakeholders to identify opportunities for MiDA to take on a more prominent role in the nation’s development agenda. He highlighted the immediate priority of meaningful conversations with government officials to explore effectively integrating programmes that will support the 24-hour economy initiative. As well as the importance of synchronization between MiDA’s activities and the government’s broader growth agenda, stressing that “MiDA needs to be in perfect sync with the government’s vision.” Emphasizing the importance of cross-ministerial collaboration, he stated that MiDA would actively work with various ministries to identify and potentially assume management of strategic projects, to, ensure effective project management and implementation, delivering tangible results for Ghana. Looking toward the future, Mr. Mould articulated an ambitious vision for his tenure at MiDA. He expressed gratitude to President Mahama for the opportunity, entrusting him to transform MiDA into a world-class Project Implementation Organization, to deliver his government’s flagship projects in support of the 24Hr Economy agendum. “The legacy I want to leave,” he shared “is to establish MiDA as the government of Ghana’s go-to project implementation unit.” The appointment of Alex Mould marks a new chapter for MiDA, with a renewed focus on alignment with national development goals and efficient project implementation. His emphasis on collaborative leadership and strategic alignment with government initiatives suggests a potentially transformative period ahead for the organization, as a key player in achieving the government’s broader growth agenda.           Source: https://energynewsafrica.com

Ghana: Energy Minister Hints At Comprehensive Review Of Petroleum Downstream Sector Regulations

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Ghana’s Minister of Energy and Green Transition John Abdulai Jinapor has disclosed that the country is planning a comprehensive review of its petroleum downstream to make the sector more viable, efficient and sustainable. According to him, a working committee will soon be put in place to consult sector agencies and petroleum service providers to improve service delivery in the petroleum downstream sector. “These consultations will consider and deliberate on key interventions such as the promulgation of a downstream law, a review of the margins, taxes and levies in the Price Build Up (PBU) of petroleum products, diversification of petroleum products supply sources, implementation of a cost-reflective tariff framework, development of a low carbon fuel market scheme, modernisation of the state-owned refinery through strategic partnership, to mention but a few,” the Minister explained. Continuing, he said, “I strongly believe that with co-operation and full support from industry, such interventions will result in improved fuel security, improved financial performance and regulatory oversight of the sector, an effective and efficient distribution system, penetration of low carbon fuels in the downstream market and affordable and stabilised fuel prices.” Speaking at the maiden Downstream Dialogue 2025 organised by the Chamber of Oil Marketing Companies (COMAC), formerly AOMC, Minister Jinapor noted that although the downstream sector is plagued with challenges, it presents a myriad of opportunities that we can capitalise on. He mentioned that the increasing demand for petroleum products and the dynamic nature of the petroleum downstream sector open an avenue for infrastructural development and expansion, adoption of new and innovative technologies, increased Ghanaian content and Ghanaian participation, and increased petroleum products supply. He added that the need for reforms also presents an opportunity for public-private partnerships to execute critical sector development projects and programmes. As the world pivots towards cleaner energy sources, the Minister said “there is a pressing need to diversify our energy mix.” “We have the opportunity to blend our oil and gas development with investments in renewable energy,” he said. He indicated that there were discussions on the introduction of biofuel blends in our petroleum products mix with the intention of reducing carbon emissions in the transportation sector that ensued last year. The Minister, who commended the organisers of the Downstream Dialogue, said his outfit was committed to creating an enabling environment that fosters growth, collaboration, and ensures that the benefits of our resources are equitably distributed.     Source: https://energynewsafrica.com

Ghana: Eunice Biritwum Appointed New Executive Secretary Of Energy Commission

Ghana’s technical regulator for electricity and natural gas, Energy Commission, has announced the appointment of Mrs. Eunice A. Biritwum as new Executive Secretary of the Commission effective  05 February, 2025. She takes over from Ing. Oscar Amonoo-Neizer who held the position from September 2019 until 04 February, 2025. Mrs. Biritwum is a Power Utility Professional with 33 years of experience in the energy industry. Having worked with various companies in Ghana, the United States, the United Kingdom, India, Sierra Leone and the Gambia, her expertise spans independent power generation, renewable energy integration, project development and implementation, contracts negotiation, project management, integrated utility and independent power production (IPP) operations management and governance. She is equally competent in policy development, integrated power systems planning, and non-generation services such as energy efficiency, and transmission infrastructure development. Her experiences have led her to develop skills in new business start-ups, organizational set-up and restructuring, Public Private Partnerships (PPPs), global marketing management, power trading and wholesale energy markets transactions administration. Additionally, she is an advocate for gender inclusion in business and the energy sector. Prior to her appointment, Eunice was an Associate Director at Deloitte & Touche (“Deloitte”) focused on developing the new Energy Consulting Business for the firm, after completing a four + year assignment with Deloitte on the USAID Power Africa West Africa Energy Program as Outcome 1 Lead. She was the first CEO for CENIT Energy Limited, Ghana, an Independent Power Producing Company (IPP), where together with her experience as Project Director for the Tema Osonor Power Project which became CENIT, she gained expertise in the development and negotiation of power purchase agreements (PPAs) and the project financing of energy infrastructure projects. Her interests in regional integration within the energy sector and the benefits power pool led to the appointment of CENIT Energy to the Board of the West Africa Power Pool (WAPP) in 2017, the first for an Independent Power Producing Company. Mrs. Biritwum was a member of the Energy Commission’s Technical Committee for electricity between 2013 and 2015, and again from 2019 to 2024. The Energy Commission invites its staff, partners and stakeholders to accord Mrs. Biritwum the necessary courtesies to make her tenure a successful one       Source: https://energynewsafrica.com

Egypt, Cyprus Seal Historic Gas Deal

Egypt and Cyprus have signed two groundbreaking agreements to develop Cypriot natural gas discoveries using Egyptian infrastructure. This strategic partnership marks a significant milestone in the region’s energy landscape, bolstering cooperation between Egypt and Cyprus. The agreements, signed on the sidelines of the Egypt International Energy Conference EGYPS 2025, are a crucial step towards Egypt’s vision of becoming a regional hub for natural gas trade and transportation. The two agreement were witnessed by President Abdel Fattah El-Sisi of Egypt and Nikos Christodolidis of Cyprus. By leveraging Egyptian facilities, Cyprus can now tap into the global market, with Egypt poised to receive, process, and re-export Cypriot gas to Europe. The first agreement was inked by Engineer Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, Mr. George Papanastasio, Cyprus’ Minister of Energy, Trade and Industry, and Engineer Claudio Descalzi, President of Eni Italian Company. The second agreement was signed by the same ministers, along with Mr. Clay Neff, President of Chevron Global Company for exploration and production activities. This historic deal is expected to accelerate the development of Cypriot gas fields, including the “Kronos” and “Aphrodite” fields, which will be linked to Egyptian facilities. As negotiations continue to bring more Cypriot gas to Egypt, this partnership is set to reshape the region’s energy dynamics, fostering greater cooperation and economic growth.         Source: https://energynewsafrica.com

Ghana’s Downstream Petroleum Sector Stakeholders Gather For Maiden Dialogue

Ghanaian players in the petroleum downstream sector on Tuesday convened at the Fiesta Royale Hotel in Accra, the capital of Ghana, to discuss key issues and map out a sustainable future for the industry. The two-day Petroleum Downstream Dialogue 2025, organised by the Chamber of Oil Marketing Companies (COMAC), began on Tuesday 18 and would end on Wednesday, February 19, 2025. The event featured the new Minister for Energy and Green Transition, John Abdulai Jinapor, as the Special Guest, the Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo Esq., Chief Executive Officer of Chamber of Bulk Oil Distributors (CBOD), Executive Director of Africa Centre for Energy Policy (ACEP) Benjamin Boakye, Executive Director of Institute for Energy Security (IES), Nana Amoasi (VII), and several captains of the oil and gas industry. Tuesday’s discussions focused on policy development and regulatory reforms, local content and participation in the downstream petroleum sector, and energy transition in the sector. In his welcome address, Gabriel Kumi, the Managing Director of Pacific Oil and Chairman of COMAC, noted that the downstream industry faces numerous challenges, including regulatory bottlenecks, restrictive policies and operational hurdles, as well as global price volatility, infrastructural gaps and financial constraints. However, he emphasised that these challenges also present opportunities for innovation, collaboration and strategic frameworks that can transform the downstream sector. Through interactive panel discussions and networking sessions, the dialogue aimed to explore actionable strategies for overcoming these challenges and unlocking new avenues for growth and sustainable development. Mr Kumi expressed his gratitude to the distinguished guests, including the Minister for Energy and Green Transition and the CEO of the National Petroleum Authority (NPA) for their presence and commitment to collaboration and support for the industry                 Source:https://energynewsafrica.com

Kenya: Electricity Demand Hits Record High Of 2,316 MW

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Kenya Power has announced that the country’s electricity consumption has reached a new record high, with a peak demand of 2,316 MW recorded on February 12, 2025. This surpasses the previous peak of 2,304 MW recorded on January 15, 2025. Statistics from Kenya Power’s National Control Centre shows that peak electricity demand has been steadily growing over the last 3 years with the growth rate gaining momentum in 2024. Electricity demand exceeded the 2,000 MW threshold towards the end of 2021 and peaked above 2,100 MW in 2022 but remained steadily below 2,200 MW in 2023 before regaining momentum in June 2024. According to Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror, the growth in demand has been driven by investments in stabilizing the National Grid and completing key projects. These include the Kimuka 220/66kV substation and the 33kV double circuit interconnector between Narok and Bomet. “The investment in upgrading transmission lines by Kenya Power and KETRACO has resulted in a more stable grid,” said Dr. Siror. “In the last six months, we also connected over 198,535 new customers to the national grid.” Kenya Power expects steady growth in electricity demand in the short and medium term, driven by grid reinforcement and connectivity projects. The company is implementing the donor-funded Last Mile Phases IV and V, which will connect a total of 289,121 new customers to the national grid. To drive electricity demand and promote environmental conservation, Kenya Power is championing the uptake of e-cooking and electric motorization. The company has set up four E-cooking hubs and is working with various players to drive the adoption of E-cooking in institutions. Dr. Siror emphasized the need to increase electricity generation to meet growing demand and improve spinning reserves. “To meet the growing electricity demand, the focus should now shift toward increasing the country’s electricity generation. This will improve spinning reserves to the standard 15% level to cater for contingency scenarios that have increased in recent years,” said Dr. (Eng.) Siror.       Source: https//energynewsafrica.com

Nigeria: TCN Debunks False Reports Of National Grid Collapses

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The Transmission Company of Nigeria (TCN) has dismissed reports of two national grid collapses in 2025, labeling them as mischievous and misleading. According to TCN, these reports emanate from unauthorized sources and do not reflect the actual state of the national grid. TCN emphasized that the Nigerian Electricity Supply Industry (NESI) is regulated by the Nigerian Electricity Regulatory Commission (NERC) and governed by industry documents. These documents grant the National Control Centre System Operator or its designated backup, the National Supplementary Control Centre (SNCC), the exclusive right to provide information to the public about grid events and status. Regarding a recent incident on February 12, 2025, TCN explained that the Omotosho-Ikeja West 330kV transmission line tripped, causing a cascaded outage that affected Abuja, Lagos, and Osogbo. However, other parts of the country remained unaffected, and bulk power supply to the affected areas has since been restored. TCN urged the public and reporters to disregard unfounded information about the national grid and instead rely on official statements from the TCN’s Public Affairs Department. Source:https://energynewsafrica.com

Sudan’s Om Dabakir Transformer Station Damaged In Drone Attack

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South Sudan’s Electricity Company has reported that a drone attack on Sunday struck the Om Dabakir transformer station, damaging the transformer that supplies power to the White Nile, Kosti, and Rabak areas. According to the company, this is the seventh consecutive targeting of power stations, following previous attacks on Merowe Distribution, Merowe Transformer (twice), Al-Shouk, and Dongola. These repeated attacks have significantly impacted essential services, including water and healthcare, for citizens. The Sudan Electricity Company has assured the public that a technical team is working to assess the damage and restore power to the affected areas as soon as possible. The company will provide further updates on the situation.       Source: https://energynewsafrica.com

Ghana: NPA Boss Tours Fuel Installations In Tema

The Acting Chief Executive of the National Petroleum Authority (NPA), Mr Godwin Kudzo Tameklo Esq., has embarked on a tour of fuel installations in the country to apprise himself of their operations. The visits are to give him first-hand information about the ongoing work, prospects and challenges with the view to offering the needed regulatory support and direction. He is accompanied by the Deputy Chief Executive, Dr Sheila Addo, and the management staff of the Authority. The first port of call was the Ghana Petroleum Mooring Systems Limited (GPMS) where the team was taken offshore and briefed on how fuel vessels are berthed and how the fuel is discharged through pipes to terminals. The team also visited the Ghana Bunkering Services Limited where it was taken through how fuel is discharged into tankers for onward distribution to oil marketing companies. Thereafter, the team visited the Sentuo Oil Refinery Company Limited and the Tema Oil Refinery (TOR). Speaking at the TOR, Mr Tameklo Esq. stressed the need for new management of TOR to work on getting the refinery to start refining crude oil for the local market. That, he said, would reduce the importation of refined oil and consequently ease the pressure on the cedi. In his remarks, the Acting Managing Director of TOR, Dr Yusif Sulemana, stated that management would ensure the revamping of TOR to perform its core function of crude oil refinery. Speaking at Sentuo Oil Refinery, the NPA Boss affirmed the commitment of the Authority to supporting Sentuo in completing the second phase of its project. The second phase is to rump up Sentuo’s refinery from 40,000 barrels per day to 100,000 barrels per day. Mr Tameklo Esq. urged the management of Sentuo to engage more Ghanaians, especially petrochemical engineering students and others from the other technical departments, to allow for technology transfer. He said recruiting Ghanaians is cheaper than hiring the services of expatriates. The NPA Boss welcomed the proposal by the Setuo management to start loading fuel at night in line with the 24-hour economy policy of the government. He said NPA’s technical inspectors would follow up on the request and advise accordingly.           Source: https://energynewsafrica.com

Ghana: Kwame Ntow Amoah Replaces Edward Bawa As New Acting CEO Of GNPC

The Ghana National Petroleum Corporation (GNPC) has announced the appointment of Mr Kwame Ntow Amoah as its new acting Chief Executive Officer (CEO), replacing Edward Abambire Bawa who has been reassigned to GOIL PLC after serving as an acting CEO of the corporation for less than a month. Mr Amoah brings over 25 years of experience to the table in the oil and gas sector, having served as a Deputy Chief of GNPC in charge of Commercial and Corporate Services between 2016 and 2017. In 2017, Mr Amoah was reassigned to the Ministry of Energy, currently Ministry of Energy and Green Transition, and held the position of Director of Petroleum. Besides, he has served as chairman and member of various national, international, and industrial boards and committees. He has played a pivotal role in international arbitration cases involving Ghana. His contributions include serving as Technical Advisor for Ghana in the Maritime Boundary Case, which the country won on September 23, 2017. His efforts have led to securing significant investments, savings, and financing for both GNPC and the country. He played a key role in attracting investments leading to the exploration successes that established Ghana as a commercial oil production province. He was also instrumental in securing approximately US$7 billion in investment for the Sankofa Oil and Gas Development Project backed by US$700 million in partial risk guarantees from the World Bank. He holds an MBA from IMD, Switzerland, and a Bachelor of Arts (Hons.) degree in Economics and Statistics from the University of Ghana. He has also participated in various international leadership and management training programmes, as well as specialised courses in energy and petroleum management. In a statement issued by Eric Pwadura, Manager Corporate Affairs, GNPC extended its heartfelt congratulations to Mr Amoah on his appointment and looked forward to his leadership in advancing the strategic vision of the corporation. “We are confident his expertise and dedication will drive GNPC’s continued growth and success,” said Eric Pwadura.         Source: https://energynewsafrica.com

Botswana: TLOU Energy To Build Gaspowered Data Center At Lesedi Project

Australian-based energy firm, Tlou Energy, has signed an agreement to build a data center at its gas production site in Lesedi, Botswana. The facility will be powered by gas-generated electricity from Tlou’s coal bed methane (CBM) production. Under the non-binding agreement with an unnamed data center developer, the Lesedi site will host a “highdensity computational facility.” While specific technical details have not been disclosed, Tlou Energy confirmed that a proof of concept has been completed. The data center developer will fund additional gas wells to scale up production in anticipation of both the data center and Tlou’s 10MW gasto-power project, which was launched last year. The project, which extracts methane gas  from underground coal, aims to expand to 25MW in the coming years. The Lesedi Power Project is situated in Botswana’s Central District, approximately 100 kilometers (62 miles) northwest of Serowe. This location provides direct access to Botswana’s national power grid and the Southern African Power Pool, making it a prime site for energy distribution. Tlou Energy stated that the data center will have the capability to take gas-generated electricity in smaller tranches than a traditional power station. This means flared gas from the dewatering process can be utilized to generate revenue instead of being wasted. Botswana currently has a small data center market, with only local operators Nashua Nest and Digital Delta present in the capital, Gaborone. The latter facility was developed by the Chinese firm China Jiangxi International Economic and Technical Cooperation. In late 2023, telecom provider Orange also launched a data center in Gaborone. Despite the country’s limited data center infrastructure, Tlou Energy’s project signals a shift toward integrating energy solutions with digital infrastructure, further positioning Botswana as a growing player in Africa’s energy and technology sectors.       Source: Tuesday Grill