She mentioned that Vivo Energy Ghana’s dedication to fostering sustainable development in Ghana is reflected in the Green Champions Programme.
“We are committed to supporting the communities where we operate, and the Green Champions programme is one of the ways we are demonstrating this. We believe that by supporting initiatives like this, we can contribute to the achievement of the Sustainable Development Goals in Ghana,” she said.
The Headmaster of the La Enobal Basic School, Michael Odonkor expressed his gratitude to Vivo Energy Ghana for the donation. He noted that the skip container will help the school to promote a cleaner and healthier environment for its pupils and the community at large.
The skip container will be used to collect, store, and sell recyclable materials such as plastics, paper, and cans. This will help the school to promote a culture of recycling and waste reduction among pupils and staff.
The Green Champions programme is one of the many sustainability initiatives that Vivo Energy is undertaking in Ghana. As an energy business, Vivo Energy Ghana is committed to promoting sustainable development in the country through our operations and community engagement initiatives.
Source: https://energynewsafrica.com Ghana: Vivo Energy Ghana Promotes Responsible Waste Management
Vivo Energy Ghana, the Shell Licensee, has donated a skip container to the La Enobal Basic School in Accra to support responsible waste management and by extension, environmental sustainability.
The energy company has a dedicated programme named ‘The Green Champions’ to support sustainable projects to protect the people and the planet through meaningful partnerships.
The Green Champions are made of employees who are passionate about climate action and sustainability and see an opportunity to promote sustainability initiatives in their workplace, engaging other members of staff and acting as a focal person for those wanting to take green action.
The desire to protect the environment for future generations is undeniably a point of focus for governments, international communities and businesses. The skip container donation to the La Enobal Basic School illustrates perfectly how Vivo Energy Ghana’s Sustainability Framework seeks to support the planet by encouraging recycling and reducing waste generation. The Green Champions admitted: “We want to preserve the environment and make the world a better place for our children, they are Ghana’s citizens of tomorrow”.
Speaking at the presentation ceremony, the Corporate Communications Manager of Vivo Energy Ghana, Shirley Tony Kum, who spoke on behalf of the Managing Director, expressed her delight at the opportunity to support the La Enobal Basic School in its efforts to promote responsible environmental practices.
She mentioned that Vivo Energy Ghana’s dedication to fostering sustainable development in Ghana is reflected in the Green Champions Programme.
“We are committed to supporting the communities where we operate, and the Green Champions programme is one of the ways we are demonstrating this. We believe that by supporting initiatives like this, we can contribute to the achievement of the Sustainable Development Goals in Ghana,” she said.
The Headmaster of the La Enobal Basic School, Michael Odonkor expressed his gratitude to Vivo Energy Ghana for the donation. He noted that the skip container will help the school to promote a cleaner and healthier environment for its pupils and the community at large.
The skip container will be used to collect, store, and sell recyclable materials such as plastics, paper, and cans. This will help the school to promote a culture of recycling and waste reduction among pupils and staff.
The Green Champions programme is one of the many sustainability initiatives that Vivo Energy is undertaking in Ghana. As an energy business, Vivo Energy Ghana is committed to promoting sustainable development in the country through our operations and community engagement initiatives.
Source: https://energynewsafrica.com
She mentioned that Vivo Energy Ghana’s dedication to fostering sustainable development in Ghana is reflected in the Green Champions Programme.
“We are committed to supporting the communities where we operate, and the Green Champions programme is one of the ways we are demonstrating this. We believe that by supporting initiatives like this, we can contribute to the achievement of the Sustainable Development Goals in Ghana,” she said.
The Headmaster of the La Enobal Basic School, Michael Odonkor expressed his gratitude to Vivo Energy Ghana for the donation. He noted that the skip container will help the school to promote a cleaner and healthier environment for its pupils and the community at large.
The skip container will be used to collect, store, and sell recyclable materials such as plastics, paper, and cans. This will help the school to promote a culture of recycling and waste reduction among pupils and staff.
The Green Champions programme is one of the many sustainability initiatives that Vivo Energy is undertaking in Ghana. As an energy business, Vivo Energy Ghana is committed to promoting sustainable development in the country through our operations and community engagement initiatives.
Source: https://energynewsafrica.com Ghana: Minority Demands Immediate Transfer Of Shares From JOHL To GNPC
The Minority Group in Ghana’s Parliament is demanding the immediate transfer of shares held by Jubilee Holdings Limited (JOHL), a company formed in the Cayman Islands, to the Ghana National Petroleum Corporation (GNPC).
According to them, this will go a long way to make Ghanaians confident that the government is exercising the needed oversight of the nation’s oil assets.
For the past two weeks, the Ghanaian media have been dominated by discussions on the planned sale of half of the seven per cent stake Ghana acquired from Anadarko in 2021.
Ghana’s Energy Minister, Dr Matthew Opoku Prempeh, had objected to the sale of Ghana’s share held by Jubilee Oil Holdings Limited to PetroSA, the national oil company of South Africa, but the Board Chairman of GNPC, Mr Freddie Blay, according to the Minister, was still pursuing the deal.
The Chairman’s action infuriated the Minister, compelling him to write to notify the presidency about what he described as a clandestine move by the Board Chairman of GNPC.
The issue attracted the attention of civil society groups working in the extractives sector, anti-corruption and good governance.
At a press conference, the group demanded the immediate removal of the CEO of GNPC and the Board Chairman.
Describing their action as illegal, the group stated that their continuous stay in office poses threats to the oil and gas sector.
Reacting to the issue, Mr Freddie Blay said he did nothing wrong and argued that the planned sale of Ghana’s oil assets was in the best interest of the state.
Commenting on the issues, the Minority Group, in an official statement on Tuesday, May 30, 2023, and signed by the Minority Leader, Dr. Cassiel Ato Forson, said the transfer of the shares would show that the government is monitoring the revenues accruing from Ghana’s petroleum resources.
“By this statement, the Minority calls on the Akufo-Addo/Bawumia NPP government to transfer the shares held by JOHL to GNPC without delay, so that Ghanaians can be assured that appropriate oversight is being exercised on these assets by Parliament and other stakeholders. This will only go a long way to ensure proper accountability and effective monitoring of the revenues accruing from our petroleum resources.”
Source: https://energynewsafrica.com
The Chairman’s action infuriated the Minister, compelling him to write to notify the presidency about what he described as a clandestine move by the Board Chairman of GNPC.
The issue attracted the attention of civil society groups working in the extractives sector, anti-corruption and good governance.
At a press conference, the group demanded the immediate removal of the CEO of GNPC and the Board Chairman.
Describing their action as illegal, the group stated that their continuous stay in office poses threats to the oil and gas sector.
Reacting to the issue, Mr Freddie Blay said he did nothing wrong and argued that the planned sale of Ghana’s oil assets was in the best interest of the state.
Commenting on the issues, the Minority Group, in an official statement on Tuesday, May 30, 2023, and signed by the Minority Leader, Dr. Cassiel Ato Forson, said the transfer of the shares would show that the government is monitoring the revenues accruing from Ghana’s petroleum resources.
“By this statement, the Minority calls on the Akufo-Addo/Bawumia NPP government to transfer the shares held by JOHL to GNPC without delay, so that Ghanaians can be assured that appropriate oversight is being exercised on these assets by Parliament and other stakeholders. This will only go a long way to ensure proper accountability and effective monitoring of the revenues accruing from our petroleum resources.”
Source: https://energynewsafrica.com Ghana: Pay 30% Of Outstanding Arrears By June 30—IPPs To Gov’t
The Independent Power Generators, Ghana, formerly Chamber of Independent Power Producers, Bulk Distributors and Consumers (CiPDiB) has given the Government of Ghana up to June 30, 2023, to settle 30 per cent of their outstanding arrears to guarantee continued power supply to the national grid.
The group communicated this in a letter to the Minister for Finance after their emergency meeting on Tuesday, 23rd May 2023.
According to the group, government arrears to them for power supplied to the national grid have ballooned to the cedis equivalent of circa US$1.6 billion to date.
The group said they are aware that ECG’s recent revenue mobilisation exercise yielded some Gh¢3.1Billion.
The group said the above notwithstanding the arrears continue to increase and no improvement on the part of ECG /Government to settle the debt to enable them to persuade their creditors, contractors and key stakeholders to defer critical payments required to maintain operations.
“We are pleased to learn that the Government has successfully concluded the IMF negotiations. We are aware that in the 2023 Budget approved in line with the IMF Staff Level Agreement, allocations were made for payments to IPPs. We are also aware of the Electricity Company of Ghana’s recent debt collection efforts, as reported in the media which yielded circa Gh¢3.1 Billion.
In a letter to the Minister of Finance Ken Ofori Atta on Wednesday, May 31, 2023, sighted by energynewsafrica.com, the group mentioned that in their letter of 28th March 2023, they demanded significant payment of their outstanding arrears, but Government failed to honour their request thereby putting pressure on their members.
“Regrettably, we must stress that unless we receive the payment requested by the said date, members of the chamber will not be in the position to guarantee the continued generation of electricity,” the group said.
The IPPs comprising Aksa Energy, Amandi Energy, Sunon Asogli Power Ghana, Early Power, Cenpower Generation, Cenit Energy, Trogan, Meinergy, and Karpowership Ghana Limited generate more than 50 per cent of the power supply to the national grid.
Source: https://energynewsafrica.com
Nigeria: NNPC Limited Increases Petrol Price More Than 200%
Nigeria’s national oil company, NNPC Limited, has adjusted pump prices for Premium Motor Spirit (petrol) across its retail outlets in line with current market realities.
Previously, NNPC Limited sold PMS at N184 per litre in Lagos, N194 in Abuja, N189 in Port Harcourt and N194 per litre in Kaduna.
However, a statement issued by NNPC Limited on Wednesday announced about more than 160 per cent increases in the cost of petrol across its retail outlets.
In Lagos, PMS is now selling at N488 per litre, N537 per litre in Abuja, N511 per in Port Harcourt and N540 per litre in Kaduna.
“As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
“We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products,” a statement issued by Garba Deen Muhammad,Chief Corporate Communications Officer NNPC Ltd, said.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Ghana: ECG Customer Connects Power To 33 Structures Illegally In Gbetsile
The Afienya District of the Electricity Company of Ghana (ECG), on Tuesday, May 30, 2023, discovered that one customer had connected electricity to about thirty -three structures within the same vicinity in Gbetsile, a suburb of Kpone Katamanso Municipality in the Greater Accra Region.
The illegal activity was discovered as part of ECG’s ongoing revenue mobilisation exercise, which started on Monday, May 29, 2023, and is expected to end on Friday, June 2, 2023.
Upon the arrival of ECG personnel, the customer fled from the scene.
However, the team managed to locate the meter outside the customer’s premises, making it accessible for investigation purposes.
During interactions with the residents, ECG officials learned that some individuals claimed to have been making monthly payments to the owner of the meter for the power they were using.
This raised suspicions about the illicit distribution of power in the area.
Another discovery made in the same vicinity had to do with a fake meter and normal ECG meters which had been moved from their original locations to new structures in Gbetsile, all of which are infractions.
Briefing the media, the District Manager for ECG Afienya District, Ing Daniel Mensah-Asare indicated that as part of the exercise, “we also check on the state of the meters to ensure that they are in good condition and working as they are expected to.”
He said it was during one of such meter checks that the group discovered that the meter, which had been fixed to one of the structures, had wires connecting to surrounding structures.
Further checks, he said revealed that there had been an illegal connection in the form of a meter bypass and so the customer was not paying the right amount for the power consumed.
The team engaged some of the residents who claimed to have been paying for the power they were using to the owner of the meter every month.
Some said they had been paying an average of Gh¢35 a month for several months.
The ECG personnel informed the other residents of the various infractions discovered before disconnecting the supply from the service pole.
The service cable was also seized by the company.
Ing Mensah-Asare indicated that the revenue mobilisation and meter integrity checks were going on well, adding that they had not had any resistance from customers.
He called on customers to ensure that the meters would be accessible to ECG workers whenever necessary.
He also admonished against illegal connections, adding that “potential culprits should know that ECG has the mandate to prosecute for illegal connection which could lead to a jail term, fine or both.”
The Public Relations Officer for the ECG in the Tema Region, Sakyiwa Mensah called upon the offender to immediately report to the Tema Regional Office of ECG to address the issue and face appropriate consequences.
She explained, “This customer has decided to distribute power to the other 33 structures. Further checks also revealed that the owner of the meter had done an illegal connection in the form of a meter bypass, which means that all the power they are using does not pass through the meter, so they are not paying for using the power.”
Despite the customer’s attempt to evade capture, ECG has taken proactive steps by issuing a summons letter to the offender.
Source: https://energynewsafrica.com
South Africa: SARB Prepares For ‘Unlikely National Grid Failure’ To Cushion Financial Sector
South African Reserve Bank (SARB) Governor Lesetja Kganyago has reiterated that the central bank through the Financial Sector Contingency Forum (FSCF) continues to prepare for the unlikely event of a national grid failure to cushion the financial sector.
Kganyago was speaking at the release of the bank’s first Financial Stability Review for 2023.
The objective of the Financial Sector Review is to communicate the bank’s views on the potential risks to financial system stability and the policy actions being taken to address these risks.
Kganyago says they are coordinating plans to mitigate the impact of the grid collapse.
“The SARB through the Financial Sector Contingency Forum continues to plan for the unlikely. But not an impossible scenario of a national electricity grid failure – in line with the role and function of the FSCF. Current efforts are centred around developing, coordinating and testing contingency plans to mitigate the impact of a national grid failure on the fin system and the economy,” Kganyago added.
Last week, the Reserve Bank hiked interest rates by 50 basis points taking the prime lending rate from 11.25% to 11.75%. This marked the 10th increase, since November 2021, totalling 475 basis points over the period.
Source: SABC
Ghana: Justification Of The 2023 2nd Quarter Tariff Adjustment
The Public Utilities Regulatory Commission (PURC) has justified its decision to increase electricity tariffs by 18.36% for the 2nd quarter of 2023.
Below is a write by the PURC
Background
The Public Utilities Regulatory Commission sits between utility service providers and consumers. While PURC ensures that the utilities are financially viable to provide adequate services (by approving adequate revenue requirement for them), the Commission also ensures that consumers get access to reliable and competitively priced services. This means, the Commission must balance the interest of both utilities and consumers. As part of steps to perform this balancing act, the Commission approves major tariffs, which are applicable over a regulatory period. The Commission also undertakes quarterly adjustments of the tariffs, performs regulatory audits, monitors performance of the utilities, educates the public, receives and resolves complaints.
The PURC in September 2022, undertook a major tariff review (2022-2025) in which, it considered the cost of operation for regulated utilities, exchange rate, inflation, cost of fuel and other factors. Since the exchange rate, inflation and cost of fuel are neither under the control of the utilities nor the Commission, variations in these variables are considered as a pass-through cost. Additionally, the energy mix, which is subject to the hydrology of the dam and other climatic factors are beyond the reach of the Commission, thereby necessitating its consideration in any quarterly tariff adjustment.
To this end, the Commission per its guidelines considers these four factors (exchange rate, inflation, energy mix and cost of fuel) and adjusts electricity tariffs on a quarterly basis to restore value of the tariffs and to meet the revenue requirements of the utility service providers. This is what is referred to as the Quarterly Tariff Adjustment. A similar approach is applied to water tariff.
Explanation of the June 1st, 2023, Quarterly Tariff Adjustment
Some detailed explanations on the 2nd Quarter Tariff Decision of the Commission, which is expected to take effect from June 1, 2023, is given below.
With the recently announced quarterly tariff decision, the electricity utilities are to recoup an amount of GHS1.3149 billion over the next quarter. This is to help purchase fuel to generate power, transmit, distribute and continuously serve consumers. To recover the full amount, electricity tariffs should have been increased by 27.51%. However, given the approved tariff of 18.36%, an amount of GHS877.70 million will be recovered, leaving a balance of GHS437.22 million to be recovered. On the other hand, the amount to be recovered through the water tariff is GHS 650,267,161 million.
This brings us to the reasons for the recoveries. In other words, what and why are we recovering?
The first is the price of natural gas.
In the first quarter tariff decision, Jubilee Oil Field contributed 32.7% of gas, Sankofa contributed approximately 51.8%, while Nigeria Gas (N-Gas) contributed 15.1%. Gas from the Jubilee Field was priced at USD 0.5/mmbtu, Sankofa was at USD 6.6272/mmbtu, while N-Gas was priced at USD 8.1510/mmbtu in the weighted average cost of gas (WACOG).
For the second quarter tariff decision, the contribution of Jubilee Field reduced marginally to 32.2%, whiles Sankofa increased to 53.9%. This reflects changes in the quantity of Natural Gas received from both fields.
The price of N-Gas on the other hand, increased from USD 8.1510/mmbtu to USD 8.6641/mmbtu, reflecting an upward change in price.
The overall implication is that the weighted average cost of gas which was USD 6.0952/mmbtu in the first quarter now increased to USD 6.5165/mmbtu in the second quarter. representing an increase of 6.9%.
Since gas prices are a pass-through cost, it is imperative that we should pay the gas price differential to enable the power producers to generate enough power for consumption. Thus, the percentage increase of 6.9% had to be passed through the tariff.
The second variable is the Exchange Rate.
The projected exchange rate used for the first quarter tariff decision (that is February to April) was GHS 8.6816 to the USDollar. Meanwhile, the actual exchange rate for that same period was GHS 10.9507 to the US Dollar. This led to an exchange rate under-recovery of GHS 2.2690.
It is important to note that all Power Purchase Agreements (PPAs) are denominated in US Dollars. This means ECG buys power in US Dollars, but sells in Ghana Cedis. The implication is that any under-recoveries with the exchange rate threatens the utility’s ability to procure and sell power. This also threatens the ability of the power generators to procure fuel for generation. Thus, the exchange rate has to be recovered.
Additionally, the Commission only passed on 75% of the exchange rate under-recovery, which was experienced between September 2022 and January 2023 in the first quarter tariff decision. The remaining 25% which is equivalent to GHS 0.6202 had to be recovered. This means that for the second quarter tariff decision, that 25% equivalent to GHS 0.6202 from September 2022 to January 2023 period plus the previous quarter under-recovery of GHS 2.2690 has to be recovered.
The Commission however, considered the present economic circumstances of Ghanaians and Industry, and decided to recover the GHS 0.6202 under-recovery from September 2022 to January 2023 period, plus 50% of the GHS 2.2690, which is GHS1.1345 under-recovery of the previous quarter, which comes up to GHS 1.7547 (1.1345+0.6202) to be recovered.
Finally, the projected exchange rate for the next quarter (June to August) is GHS 10.9571 to the US Dollar. If the under-recovery of GHS 1.7547 of the previous quarter is added to the projected exchange rate of GHS 10.9571, the applicable exchange rate amounts to GHS 12.7118 to the US Dollar. Since only 50% of the exchange rate effect is being recovered, it means, an equivalent of GHS 437 million has been effectively passed on to the next quarter.
The third variable for consideration is the Hydro-Thermal mix.
The hydro-thermal mix used for the second quarter is 29.01% for hydro, and 70.99% for thermal; as against 26.11% for hydro and 73.89% for thermal used for the first quarter tariff decision. The increased hydro allocation of 29.01% helped to reduce the potential tariff by about 2.5%. This means that without the increased hydro allocation, the tariff would have gone up by an additional 2.5%.
The final variable is Inflation.
The projected inflation figure for the year, was 42.63%. If this figure is divided into four quarters, that amounts to an inflation rate of 10.66% per quarter.
The average actual inflation for the first quarter was 50.47%. Again, if this is divided by four, we get an inflation figure of 12.62%. This means that the inflation effect for the second quarter will be 12.62% – 10.66% which is 1.96. This figure is that which was considered in the second quarter tariff decision.
Conclusion
In a nutshell, the 2nd quarter tariff decision of 18.36% for electricity helps to fully recover (i)100% of the inflationary effect, (ii)100% of the gas price effect and (iii)50% of the exchange rate effect.
PURC Communication Team.
Ghana: Fuel Tanker And Yutong Bus Collision Kills 6, Injures 48 People At Gomoa Okyereko
A fuel tanker belonging to Goodness Energy, one of the oil marketing companies in the Republic of Ghana, and a Yutong bus fully loaded with passengers collided at Gomoa Okyereko near Winneba in the Central Region at about 4.30 am today, Tuesday, killing six passengers instantly.
The casualties included the mate of the fuel tanker.
The report suggested that the Yutong bus which was fully packed with passengers from Ivory Coast, Ghana’s western neighbour, veered off its lane and crushed into the tanker truck.
Speaking to the media, DO2 Kwesi Hughes, the Municipal Fire Commander for Winneba, said the Yutong bus was headed towards the Liberia Camp, near Kasoa, in the Western Region of Ghana while the bulk road vehicle was headed towards Cape Coast from Accra, Ghana’s capital.
The injured were dashed to the Winneba Trauma Hospital and Effutu Municipal Hospital for treatment.
A local journalist, Alex Cobbinah, popularly known as Omanhene Pozo, told this portal that one person had been referred to the Korle-Bu Teaching Hospital in Accra to seek medical attention.
According to him, the police recovered about US$8070 from the victims.
Source: https://energynewsafrica.com
Nigeria: Fuel Subsidy Removal Will Not Take Effect Immediately – President Tinubu
Nigeria’s new President Bola Ahmed Tinubu has stated that the removal of subsidy on fuel will not take effect immediately.
He has therefore urged Nigerians to desist from resorting to panic-buying as it is being witnessed in some parts of the West African nation.
Delivering his inaugural speech on Monday, May 29, 2023, after being sworn into office, the new Nigerian leader declared that the era of fuel subsidy is gone.
Following his statement queues surfaced immediately at some fuel stations in Lagos, Port Harcourt, Abuja and other places , with fuel prices going up as high as N350 per litre.
Several interest and civic groups have called on Tinubu not to begin his administration on a draconian note for Nigerians but should be circumspect on the fuel subsidy removal.
In a tweet, Bola Tinubu through his media centre said the fuel subsidy removal was not immediately but a process that had been on.
The tweet reads: “The public is advised to note that President Bola Tinubu’s declaration that “subsidy is gone” is neither a new development nor an action of his new administration.
“He was merely communicating the status quo, considering that the previous administration’s budget for fuel subsidy was planned and approved to last for only the first half of the year.
“Effectively, this means that by the end of June, the Federal Government will be without funds to continue the subsidy regime, translating to its termination.
“The panic-buying that has ensued as a result of the communication is needless; it will not take immediate effect.
“Furthermore, President Tinubu was clear about his plans to re-channel the funds previously devoted to the payment of subsidies into better investments that will cushion the effects of the removal on the general public, especially the poor of the poor. This includes but is not limited to investments in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions of Nigerians and increase their earning potential.”
Source: https://energynewsafrica.com
South Africa: Court Castigates Gwede Mantashe On Axing Of Anti-Nuclear Activist, Denies Leave To Appeal
The Western Cape High Court in South Africa has refused applications by Mineral Resources and Energy Minister Gwede Mantashe and the National Nuclear Regulator (NNR) for leave to appeal against the same court’s decision on the sacking of anti-nuclear activist Peter Becker.
The applications were for leave to appeal against Western Cape High Court Judge Babalwa Mantame’s scathing judgment on 19 January which found Mantashe’s decision to discharge Becker from the NNR board was “unlawful, unconstitutional and invalid”.
On Friday, 26 May, Judge Mantame ruled that Mantashe and the NNR, in their respective applications, had failed to convince the court that there was any reasonable prospect of success in an appeal and that there were compelling reasons why an appeal should be heard.
They were ordered to pay the costs of the application.
“The test applied in an application for leave to appeal amongst others, suggests that there must be a sound and rational basis for the conclusion that there are prospects of success on appeal.
“The respondents have not taken this Court into its confidence and identified the compelling reasons why this matter should be heard by an appeal court, other than to give this Court’s judgment their own meaning. The fact that they preferred their own interpretation to the comments and findings of the Court could not be said to be a justifiable reason/s for the matter to be heard by an appeal court,” concluded Judge Mantame.
Both respondents received a thorough dressing-down from the judge, who criticised their apparent decision on reading her initial judgment “selectively. The respondents cannot substitute the Court’s analysis with their own convenient censure,” she said.
The judgment coincided with President Cyril Ramaphosa’s move to finally bestow his new minister of electricity, Kgosientsho Ramokgopa, with real power — transferring responsibility for procuring new electricity generation to Ramokgopa from Mantashe.
At first glance, the loss of such procurement powers appears to be a blow to Mantashe.
Becker, the spokesperson of the Koeberg Alert Alliance (KAA) — a civil society organisation opposed to the further building of reactors at Koeberg Power Station and extending its lifespan — was appointed to the NNR board in June 2021, to represent communities affected by nuclear activities.
In February 2022, he was fired by Mantashe, who alleged Becker was guilty of “misconduct” and was “conflicted”, after he gave an interview in his capacity as KAA spokesperson, in which he raised concerns about the use of nuclear power in South Africa, and after he convened a meeting with civil society organisations.
Becker’s initial suspension from the board in January 2022 was on the same day that the steam generators in unit two were approved for replacement, which is one of the steps required before any life extension could be granted.
Members of civil society have since questioned the timing of his suspension. Becker launched a court bid to challenge his axing last year. In his first court application, he argued that Mantashe had an ulterior motive to get rid of him because of the challenging questions he may have raised.
In her judgment on 19 January, Judge Mantame concluded that Becker’s public statements, his requests for information and the meeting with members of his constituency could not be construed as misconduct. Additionally, even if there was a perception of conflict of interest, it was capable of being mitigated.
In Friday’s judgment, Judge Mantame reiterated: “Similarly, in this matter, in light of the finding that there was no evidence of misconduct on the part of the applicant, it then follows that there is no rational or sound basis for his discharge. In the circumstances, the conclusion that there are prospects of success on appeal or that there are compelling reasons for the appeal to be heard is without merit.”
This raises the question of what the minister’s motivation had been to axe Becker. The reasons and decision of Mantashe to discharge Becker from his office as a director of the board, Judge Mantame ordered in January, were reviewed and set aside. However, Becker is currently in limbo and is excluded from the NNR board and board processes.
The Western Cape High Court’s refusal to grant leave to appeal to Mantashe and the NNR doesn’t mean it’s the end of the road, as they can still petition the Supreme Court of Appeal directly for leave to appeal.
Source: Daily Maverick
Ghana: Increases In Tariffs Will Help Utilities Recover Cost—PURC
Ghana’s Public Utilities Regulatory Commission (PURC) has justified the recent increase in electricity and water tariffs effective June 1, 2023, saying the hikes are to enable utilities to recover the cost.
According to PURC’s Executive Secretary, Dr. Ishmael Ackah, the power sector currently has a deficit of Gh¢1.314 billion from generation, transmission and distribution.
He stressed that the power sector needs to be financially viable to survive the next quarter.
“The 2nd quarter tariff decision of 18.36% for electricity helps to fully recover 100% of the inflationary effect, 100% of the gas price effect and 50% of the exchange rate effect,” Dr Ackah stated.
Speaking at a media training programme over the weekend, Dr Ishmael Ackah noted that the recent electricity tariff should have been 27.51 per cent but the commission noted that only GH¢877,70 million was recovered, leaving a balance of GH¢437.22 million.
On the waterside, Dr Ackah said the amount yet to be recovered was Gh¢650,267,162 million.
Touching on gas supply, Dr Ackah said the Jubilee Field contributed 32.7 per cent of gas, which is about 51.8 per cent while Nigeria Gas (N-Gas) contributed 15.1 per cent for the period.
He added that the price of gas from the Jubilee Field was US cent 0.5, similarly, Sankofa was US Dollars amounting to 6,6272 and N-Gas was US Dollars (8,1510).
He explained that the contribution of the Jubilee Fields reduced marginally to 32.25 whilst Sankofa increased from US$8.1510, which changed the dynamics in the variable cost determinants.
Touching on the price of N-Gas, he said it has also increased from US$8.1510/MMBtu to US$8.6641MMBtu and it is reflected in the changes in the prices.
“The overall implications are the weighted average cost of gas was US$6.0952/MMBtu in the first quarter and has now increased to US$65.5165/MMBu in the second quarter, representing a 6.9% increase.
“Other factors crucial for determining the prices in the sector he said, include exchange rates which were not stable for the period. In addition to this, he said the Hydro-thermal mix for the period of June to August was significantly affected.
“The third viable was the projected inflation figure for the year, which was 29.01 per cent, thus, 42.63 per cent.
“Divided for the period, the PURC noted that it averaged 50.47 per cent quarter,” he explained.
Source: https://energynewsafrica.com
Nigeria: Petrol Queues Resurface After President Tinubu Announced Removal Of Fuel Subsidy
Petrol stations in Lagos and Abuja started witnessing queues on Monday few hours after Nigerian new President Bola Tinubu announced that fuel subsidy has ended.
Some NNPC Limited stations in Lagos and Abuja were crowded by motorists who rushed to buy the product.
During his inaugural speech at Eagle Square in Abuja on Monday after being sworn into office Bola Tinubu announced the removal of fuel subsidy.
He said he was informed that there was no provision for fuel subsidy, adding that it could no longer be justified.
He said, “Fuel subsidy is no more. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.
“We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions. “No provision for fuel subsidy.”
He said there would be a “thorough house cleaning,” adding that the interest rate would be reduced.
Source: https://energynewsafrica.com
GOIL PLC MD Adjudged Petroleum Downstream CEO Of The Year
The Group CEO and Managing Director of GOIL PLC, Mr. Kwame Osei-Prempeh has been crowned as the outstanding CEO in the Petroleum downstream sector at the just ended Ghana CEO Summit in Accra, capital of Ghana.
The 7th Ghana CEO Summit was attended by Chief Executive Officers of Companies, Business Executives, Captains of industry and major decision and policy makers who discussed topical business strategies to sustain and grow their businesses while influencing and impacting society.
This year’s summit discussed economic sovereignty, sustainable corporate governance, and Digital industrial Transformation.
A key feature of this year’s summit was how to transform state-owned enterprises for growth and prosperity and fostering a high-level public-private sector dialogue.
Mr. Osei-Prempeh expressed gratitude for the award and indicated he shared it with the entire team of GOIL whose efforts and expertise contributed to it.
“It was an honour done me to be recognized as the best CEO in the Downstream oil sector in Ghana and I do not take it lightly. My team of Board members, Management and staff in general have all made this successful,’’ he said as carried by Myjoyonline.com.
He urged customers to continue to patronize GOIL fuels and lubricants and enjoy all the goodness they offer.
Since Mr. Osei Prempeh’s assumption of the position of Group CEO and MD in 2019, GOIL has steadily maintained its leadership position as the market leader in the highly competitive industry.
Source: https://energynewsafrica.com
Petrobras Launches New Commercial Portfolio For Natural Gas
Brazilian national oil company Petroleo Brasileiro SA has launched a new commercial portfolio for natural gas in a move that will see the company expand and diversify deadlines, benchmarks and places of delivery in a bid to become more competitive.
Petrobras will also resume using Henry Hub benchmark prices for gas in addition to Brent oil prices, while offering distributors more options for contract deadlines and delivery locations.
Using the new portfolio, Petrobras, which currently has contracts with more than 14 suppliers, will become more competitive in the public calls being made by the state distributors and in the commercialization via the Free Market.
Earlier, Petrobras reported that its Q1 2023 revenue and profits decreased which it attributed to lower commodity prices.
Q1 net income fell to 38.16B reais (~$7.7B) from 44.6B reais in the prior-year period, but well above the 31.96B reais analyst consensus estimate. Q1 adjusted EBITDA fell to 72.5B reais from 77.7B reais a year ago but also topped the consensus estimate of 67.36B reais. Meanwhile, revenues fell 1.8% Y/Y to 139.07B.
Thankfully, PBR continues paying out hefty dividends to shareholders, with payouts for the quarter clocking in at 24.7B reais ($4.94B).
Petrobras has been at the center of a major corruption scandal over the past decade, due to large political appointments in its senior management.
Last year, the oil and gas supermajor announced that it will increase 2023-2027 investments by about 15% to $78 billion over the company’s 2022-2026 projected spending.
Of the $78 billion planned for capex, 83% or $64 billion is earmarked for E&P activities while 67% of the E&P capex budget will go to pre-salt activities.
The company also plans to boost spending to reduce carbon emissions to ~6% of the total compared with 4% in the previous plan, and will see its decarbonization fund more than double the current $248M.
PBR shares underperformed badly last year but have gained 26% year-to-date.
Source: Oilprice.com