Ghana: GNPC’s Operational Head Office Project 90% Complete

Ghana’s national oil company, Ghana National Petroleum Corporation (GNPC), is set to complete and commission its operational head office project currently under construction in the Western Region of Ghana, energynewsafrica.com can report. The US$25 million project, which started in 2020, is currently about 90 per cent complete. The corporation has its headquarters in Tema in the Greater Accra Region. However, before the 2016 General Elections, President Akufo-Addo, during his campaign tour of the Western Region, promised to construct an operational head office in the region. Last week, Vice President Dr Mahamudu Bawumia, who was in the West Region, visited the site to inspect the project and expressed delight at the progress of work. He stated the government would ensure equitable distribution of development in all the regions across the country. He commended the contractor and workers at the construction site for their hard work. Dr Bawumia also assured the people of the Western Region of the government’s commitment to ensuring the successful completion of the project. “I came to monitor the progress of work and I have seen it too. The six-floor building is now at 90% completion. By the grace of God, the construction will be completed this year. I am very happy. The contractor and the workers have done a very good job; I applaud them. We will complete this building this year. “Government wants every region to develop and we know this is where oil drilling takes place in Ghana. So, it is correct that the Western Region will receive oil infrastructural development. This is why we decided to bring the Operational Headquarters here,” he said. The General Manager in charge of Strategy at the Ghana National Petroleum Corporation, Dr Kwame Baah Nuakoh commended the Vice President for his visit.    

Source: https://energynewsafrica.com

Nigeria: Vessel With 700 Barrels Of ‘Illegal’ Crude Oil Seized, Six Suspects Arrested

A barge carrying 700 barrels of illegal crude oil has been intercepted while six suspected crude oil thieves have also been arrested in Opete in Delta State in the Federal Republic of Nigeria. According to NNPC Limited, Nigeria’s national oil company, the barge and the arrests were made in partnership with Tantita Security Services Nigeria Limited based on an intelligence report. Nigeria- based online portal, The Cable, reported that Warredi Enisuoh, Executive Director of Tanita Security Services, who briefed journalists, said the operation was conducted by a combined team of security agencies. He said his outfit and Sand Mason Engineering received reports that a jetty site was being used for activities beyond its approval limits. He said surveillance revealed that the 1000 metric tonnes capacity barge was loaded with illegal crude oil–but was declared as sewage. According to Enisuoh, “A team of Tantita Security Services operatives continued to monitor the jetty for suspicious activities. It was observed that a sewage truck with plate number JR7750XA visited the jetty twice. “During its third visit on May 12, 2023, the truck was accosted by the Tantita Security operatives, keeping constant vigil over the area. Upon inspection, the substance found inside the tank was not sewage, but rather, crude oil. “The driver was arrested and handed over to government security operatives. “The driver later revealed the destination of the contents, which took us to another yard inland, also operated by Mawe Services Limited. “Within the Mawe Services Limited’s premises, there were two metallic cylindrical tanks of about 45,000 litres capacity each. “Both tanks were inspected, and one was found to be filled up with crude oil.” He said the driver of the truck confirmed that he had been transferring the contents of the barge into the tank. He said inspection of the “yard security logbook” showed that the truck visited the location severally, adding that the contents of the truck were well spelt out as “crude oil”. Enisuoh said the perpetrators frequently loaded the crude from the big barge into small gallons batch by batch, before transferring to illegal refineries. “One new method they use now is that they obtain documentation and authorisation from the government to fool security agencies, then, go on to do other illegal jobs,” he said. He said when the suspects are apprehended, they usually claim to be recently hired by their companies, “whereas they were already trained to operate in that line.” He said part of the crude had been evacuated while the rest would go through a combustion process.  

Source: https://energynewsafrica.com

Nigeria: Vice President Inaugurates Afam 3 Power Plant, Says Electricity Market Has Huge Potential

The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo has commissioned the 240MW Transafam Power plant in Afam, Rivers State.  With an already existing power plant residing in Afam, this brings the cumulative generating capacity of the plant to 1,000MW. Vice President, Yemi Osinbajo and Group Chairman, Transcorp Plc., Mr. Tony Elumelu; during the commissioning of Transcorp Afam 3 Fast Power 240MW turbines in Afam, Rivers State on Tuesday Speaking during the commissioning, the Vice President lauded the Chairman of Transcorp Group, Tony Elumelu and the entire Transcorp team for yet another power sector investment. “Afam Three Fast Power is an important part of the evolving story of Nigeria’s aspirations to bring electricity to millions in their homes, factories and businesses that provide their livelihoods. It brings into view the importance of private capital in building up capacity along the power value chain,” he stated. “A major weakness of our privatisation process has been inadequacy of private investments and new cash injections. But the tide is turning with indigenous power and private investors such as Transcorp Power and Heirs Holdings, making significant investments such as the 100% acquisition of the 966MW installed capacity in Afam Plc and Afam III fast power Limited jointly referred to as Afam Genco,” Vice President Yemi Osinbajo added. In a statement after the commissioning of the plant, Vice President Osinbajo, said Nigeria has the ingredients to create one of the best power markets in the world and expressed confidence that it will happen within our lifetimes. “The challenge before us now is for the industry to leverage the improved commercial environment that has been created to sustainably supply electricity and improve service to all citizens. This administration has made significant strides in this direction.” Referencing the efforts of the Buhari administration in the power sector, the Vice President said, “The complete story is that in the past few years we have seen more new money coming into the power value chain. “These transactions include, Quest PLC that became core investor in Yola disco in 2020 with the transaction worth N19 billion. Last month the National Council on Privatization, NCP, approved the 30-year concession on Zungeru Hydro Power Plant at $70 million a year. And overall, the story of the Nigerian electricity supply industry is also getting better.” Continuing, the VP disclosed that “since 2020, the Nigerian Electricity Regulatory Commission has executed all of its bi-annual review processes without fail,” recalling that this was a marked difference from the past. For instance, he said, “In 2019 subsidies reached a peak of N584 billion in an environment that was very burdensome on the Nigerian Government’s fiscal position.” But he added that the “introduction of the Service Based Tariff, the Payment Discipline initiative for the sector (through NERC and CBN) and the introduction of the National Mass Metering programme have led to a doubling of market collections in the Nigerian Electricity Supply Industry from N40 billion per month in 2020 to a record of N80 billion per month in the 1st quarter of 2023”. He also stated that in 2021 and 2022 “five underperforming DISCOs were brought into a restructuring program that has led to a N10billion per month reduction in shortfalls. If this trajectory continues, the Nigerian Electricity Supply Industry will attain self-sufficiency by the end of 2023.” The Minister of Power, Engr. Abubakar Aliyu applauded Transcorp Group for its positive contributions to improving electricity generation in Nigeria. “What we are celebrating today is an exemplar of the best of Public-Private partnerships. This collaboration has ensured that we are commissioning Afam Three Fast Power today, with a capacity to inject an additional 240MW of electricity into the National grid.” “At full capacity, it will no doubt provide about 40% of our generated energy today. This is commendable and will certainly improve electricity supply to the nation along with growth of our economy and Gross Domestic Product (GDP)”, Engr. Abubakar said. On His part, the Chairman of Transcorp Group, Mr. Tony O. Elumelu, during the ceremony said that “We all know the importance of power in Nigeria.  We all experience the consequences of our power deficit – the implications for our people, our businesses, our schools, hospitals, and institutions – our national destiny. Transcorp Group is a key player in the power sector.  We recognise power is the single most critical factor to lifting our people out of poverty and enabling job creation.’’     Source: https://energynewsafrica.com

Ghana: GSA Closes Down Chinese Cable Firm Operating Without Certification

The Ghana Standards Authority (GSA) has shut down Fenice Metal Technology Company, a Chinese electrical cable and copper rod manufacturing plant in Tsopoli-Bueko in the Ningo-Prampram District in the Greater Accra Region for operating without proper certification. The GSA found the company to be operating without certification and their products also lacked important information, including product batch numbers, date of manufacture and expiry and the name and address of the producer. According to the GSA, the company was also deceitful about the origin of its products by labelling them as products manufactured in Turkey, China and Nigeria before selling them to the public. The management, however, claimed that the company had applied for certification and was awaiting response from the authority. The violations were discovered during a market sweep operation by the GSA’s officers aimed at removing substandard and inferior products from the Ghanaian market to prevent causing significant harm to consumers. Speaking to the press, Head of Enforcement at the GSA, Mr. George Anti, who led the operation, explained that the swoop was on the back of intelligence gathered by the authority following ECG’s visit to the factory where it was discovered that it was operating on an illegal electricity connection to evade paying for proper tariffs. “From the work that we do we have established that when manufacturers are committing such offences, they are carried out in pairs. “So if a company is operating without paying tariffs and using an illegal connection to steal power from the state, then, of course, it goes without saying that they would, most likely than not, be committing other offences,” he explained. Mr. Anti described such activities by any company as potentially catastrophic because if their products were substandard, they could cause a fire outbreak, leading to the loss of property and most importantly, lives. He added that although the authority wanted to promote trade, its ultimate goal was to protect consumers. He also said their operations could be detrimental to the socioeconomic development of the country as it had began to trade on the African Continental Free Trade Area (AfCFTA). “We are moving into an era when we are trading under the AfCFTA and getting products from all sorts of places coming onto our market while ours will go to other people’s markets so we must make sure they meet standards and are safe, not just for use but fit for purpose as well,” Mr. Anti said. Mr. Anti said under the GSA Act (Act 2022), there were a number of penalties that had been prescribed by law to be used as punishment for such activities with the lowest hanging fruit being administrative penalty which began from 1000 penalty units He, therefore, affirmed that the authority would apply the full rigours of the law following the conclusions of investigations, including test results of the samples taken, to serve as deterrence to others and ensure such activities were nipped in the bud.       Source: https://energynewsafrica.com

Ghana:Over 50 Corporate Entities, Individuals Nominated For 2023 Think Energy SDGS Awards

More than 50 institutions and individuals involved in promoting the attainment of the Sustainable Development Goals (SDGs), especially on sustainable use of energy resources, will be recognised and awarded at the 2023 Think Energy SDGs Awards. The awards ceremony is slated for June 30, 2023, and formed part of the African Energy and Sustainable Summit, which is a global prestigious award designed to celebrate and honour corporate and academic institutions working together to achieve global leadership on SDGs 4,7,13, 14, and 17. Dr. Robert Mawuko Sogbaji, the Lead Judge for the Awards and Technical Coordinator of the Energy Transition, Ministry of Energy, announced the nominees for the various award categories at a news conference, in Accra, on Monday. The awards, he said, aimed at encouraging corporate entities and individuals to come up with innovative technologies to solve societal challenges positively impact the environment and ensure sustainable use of the energy resources. Mr. Humphrey Tetteh, the Chief Executive Officer of the African Global Response Energy Environment (AGREE) Limited, the organisers of the awards, said his Organisation had plans of mobilising one million dollars in the next three years to support energy research and academic works in the universities in Africa. Under SDG Teaching/ Learning Category, Centre for Women and Food Security-Ghana, Accra Technical University and Kwame Nkrumah University of Science and Technology were nominated. Under Energy Media Personality of the Year Category, Ms Rebekah Adwoa Awuah, of Ghana Broadcasting Corporation, Emmanuel Aboagye-Wiafe, of Energy 101, Asaase Radio, and Michael Creg Afful, of Energy News Africa were nominated. The Total Energies Marketing Ghana PLC, Electricity Company of Ghana, National Petroleum Authority and Ghana Oil were nominated for the SDG Energy Company of the Year. Under Green Housing Project of the Year, Appolonia City, AnC Mall, Jubilee House and Prabon Greenfields were nominated. The public has 30 per cent stake via voting to determine the winner in each category while the judges have 70 per cent. The awards would also recognise the Most Influential SDG Leaders in Africa with the following personalities nominated: Damilola Ogunbiyi, CEO of SE4All, Dr Matthew Opoku Prempeh, Ghana’s Minister of Energy, Aliko Dangote, Founder and Chairman of the Dangote Group, Mr Samuel Kofi Dzamesi, CEO of Bui Power Authority and Mrs. Samira Bawumia, the Second Lady of the Republic of Ghana. Dr. Sogbaji highlighted the importance of sustainable energy and its role in the attainment of the SDGs, and noted that, the awards would provide an opportunity for the public to learn about the efforts of individuals and organizations towards a sustainable environment.     Source :GNA

Burundi: President Ndashimiye Inaugurates First Grid-Connected Solar Farm And Pledges To Grow Capacity

President of Burundi His Excellency, General Évariste Ndayishimiye, has cut a tape to officially inaugurate Gigawatt Global’s solar power plant in Mubuga, near the capital Gitega. The 7.5MW solar PV plant which is the first utility-scale solar field in the Central African nation has been in operation since May 2021 and now provides over 10% of Burundi’s electricity. During the event, President Ndashimiye and renewable developer Gigawatt Global CEO Yosef Abramowitz announced their intention to double the generating capacity near the currently operating plant. The Gigawatt Global solar plant was built over a period of six years and resulted from a multinational effort. The project was financed via a consortium including Inspired Evolution via its Evolution II Fund, the UK government-funded Renewable Energy Performance Platform, and Gigawatt Global. Political risk insurance and refinancing of construction debt are being led by the US International Development Finance Corporation (DFC). Additional support for the project was provided by the Energy and Environment Partnership (EEP – a fund set up by Finland, the UK and Austria) and the Belgian Investment Company for Developing Countries (BIO). Engineering, procurement and construction services were provided by French firm Voltalia. Gigawatt Global Burundi SA managing director, Michael Fichtenberg, said: “This project demonstrates how the world community can realize shared development goals by utilizing international financing facilities best suited for frontier and emerging markets.” The plant not only boosts the country’s renewables output but also supports local vulnerable communities. It will be coupled with a small solar-powered business and community center, the Energy Hub, for which land and funding are being secured. The centre will promote women’s empowerment, as well as youth education and employment programmes. President Ndashimiye said at the ceremony: “Today we celebrate economic and climate progress in Burundi, which is open to direct foreign investment to catalyze economic growth for our people. We invite the international community to follow the lead of our partners at Gigawatt Global, Inspired Evolution, REPP and DFC and develop projects, especially in the agricultural sector. “We have excellent soil for tea and coffee and an industrious population. And thanks to this solar field, and my agreement to double the size of it, we have increased energy security that can reliably run agro-businesses.” According to the intergovernmental initiative SE4ALL, Burundi is one of the least electrified countries in the world due to insufficient power supply. However, the country has great solar power potential as it receives around 2000 kWh/m² per year, equivalent to the best European regions. UK Ambassador to Burundi, Omar Daair, said: “Today’s celebration of Burundi’s first grid-connected solar farm follows an extraordinary international effort to increase renewables and climate finance in one of the world’s most vulnerable countries. This pioneering solar project, proudly supported through UK international climate finance, has increased Burundi’s generation capacity by over 10% and is helping propel the country towards a cleaner and more sustainable energy future.” Gigawatt Global Burundi SA Managing Director Michael Fichtenberg said: “This project demonstrates how the world community can realize shared development goals by utilizing international financing facilities best suited for frontier and emerging markets.” Gigawatt Global CEO Yosef Abramowitz said: “We thank our impact investors and strategic partners, as well as the Burundi government, for joining forces to accomplish this historic milestone fulfilling many of the UN’s Sustainable Development Goals in Burundi. President Ndashimiye is demonstrating the sort of leadership which will encourage additional foreign direct investment from us and our investment and development finance partners. Burundi’s business climate is continuing to improve and we are confident that we can continue to power their growth.” Abramowitz, who was nominated by 12 African countries for the Nobel Peace Prize for his pioneering commitment to green energy access, continued: “Green energy projects that serve the most vulnerable communities should be prioritized by the international community, and we hope many of the new international financing consortiums will partner with us to scale these impactful projects in the Least Development Countries.”      

Nigeria: Former Power Minister, Sale Mamman, Arrested Over N22 Billion Fraud

Nigeria’s former Minister for Power, Sale Mamman, is being interrogated over an alleged N22 billion(US$47,718,000) fraud. Sale Mamman, who served in the Buhari administration from August 2019 to September 2021, was arrested on Wednesday for allegedly conspiring with a staff of the Ministry of Power in charge of the accounts of the Zungeru and Mambilla Hydro Electric Power projects and diverting N22 billion, which they shared among themselves. According to a report by Nigeria-based Daily Trust, their sources at the Economic and Financial Crimes Commission (EFCC), which is investigating corruption in some power projects, said the former Minister would be detained until “necessary information” is obtained from him. The report said the investigations have also uncovered properties in Nigeria and overseas linked to the suspects, while millions of naira and United States Dollars have been recovered. Daily Trust reported that several calls to the mobile phone of the spokesman of the anti-graft agency, Wilson Uwujaren, went unanswered. He also did not respond to a text message sent to his mobile phone.     Source: https://energynewsafrica.com

Nigeria: Six Crew Of Danish Oil Tanker Rescued After Hijack In Congo

Six crew members who were kidnapped by pirate in April 2023 from a Danish oil tanker off the Republic of Congo have been rescued in Nigeria, the ship’s owner says.  “All six crew members who were kidnapped from the oil tanker Monjasa Reformer are now safely recovered from an undisclosed location in Nigeria,” Monjasa said on Monday as carried by Al-Jazeera. The company did not specify if any ransom was paid. Monjasa, CEO Anders Ostergaard, said they “are in a relatively good health condition, given the difficult circumstances they have been under in the last more than five weeks”. “They have all been receiving medical checks and are now being repatriated to their home countries to reunite with their families,” Ostergaard said. The shipping company had previously said it had lost contact with the crew after pirates boarded the ship. The Liberian-flagged Monjasa Reformer had 16 sailors on board when pirates attacked it on March 25. Despite being owned by a Danish company, none of the crew was Danish. When the 135-metre-long tanker was found by the French navy the following week off the coast of Sao Tome and Principe in the Gulf of Guinea, the remaining crew said six of their colleagues had been kidnapped. Pirates have long been a risk in the Gulf of Guinea, a major shipping route stretching 5,700km (3,500 miles) from Senegal to Angola. But since 2021, shippers say pirates have been raiding farther out in international waters. Their violence and sophisticated tactics prompted pleas from shippers for a more robust foreign naval presence like the mission to curb attacks from Somali pirates a decade ago. In recent years, some gangs have captured larger fishing vessels that they use as “motherships”, or bases, to raid farther out to sea. But the region, which sees a lot of traffic from oil tankers, has also seen a lull in activity in the post-pandemic era. According to a report by the Maritime Information Cooperation and Awareness Center, three ships were attacked in the area in 2022, compared with 26 in 2019. Two other attacks have been recorded in the region in 2023 so far.     Source: https://energynewsafrica.com

Ghana: VRA, Emergency Service Agencies Embark On Dam Spillage Simulation Exercise Today

Ghana’s largest state power generation company, Volta River Authority (VRA), will today, Thursday, May 11, 2023, conduct a dam spillage simulation exercise with some emergency service agencies in the West African nation. VRA operates the 1,020 Megawatts Akosombo Hydroelectric Power and Kpong Dams situated in the eastern part of Ghana. The exercise is expected to take place in the Asuogyaman, North Tongu and East Ada districts where the impact could be severe in an unlikely event of a dam spillage. The exercise will comprise state security agencies, the National Ambulance Service, the Ghana National Fire Service, the Electricity Company of Ghana, the North Dakota National Guard and the US Embassy which are providing technical support and training. The exercise forms part of the VRA’s Emergency Preparedness Plan (EPP) for the Akosombo and Kpong Dams to enhance the readiness of the state agencies to respond to emergencies arising from the release of significant amounts of water from the dams. Speaking at an official event ahead of the planned exercise, the Deputy Chief Executive of the Authority, Edward Obeng-Kenzo indicated that though excess spillage would likely not happen anytime soon, it was necessary to anticipate the implications of spillage and take the appropriate measures in a likely event. He disclosed that the spillage would likely affect more than 300,000 residents living around the dam and so it was important to protect the lives and livelihoods of these people. “We are conducting a spillage simulation exercise of the Akosombo Dam up to the tune of 10,000 cubic meters and that is a lot of water, and it has implications for all the districts downstream, and we have nine districts downstream of the Akosombo Dam and these districts will be affected if we spill and so it is our responsibility to ensure that those communities are safe during a spillage.” The Director-General of NADMO, Eric Nana Agyeman Prempeh said disasters could be prevented through early warning systems such as simulation exercises and the building of efficient response systems. He, therefore, commended the VRA for adhering to the constitution by establishing emergency preparedness and response plans by Law 216 (Act 927) which obliges all agencies to simulate their plans jointly with NADMO. “Continued exercises of this nature will improve the preparedness and resilience of our local communities. “Gaps in disaster preparedness and response will also be identified and the capacity of response agencies, including NADMO, to manage and reduce disaster risk will be increased,” Nana Prempeh added.     Source: https://energynewsafrica.com

Ghana: NPA Advises Motorists Not To Patronise Fuel Sold On Table Tops

Motorists in the Republic of Ghana have been advised to desist from patronising petroleum products that are sold at unapproved places like table tops along the road. According to the petroleum downstream regulator, the National Petroleum Authority (NPA), such products, which are mostly smuggled into the country through unauthorised routes, mainly from Togo, are adulterated and can damage their vehicles. The petroleum products are filled in gallons and conveyed mostly on motorbikes to their Ghanaian customers, who, in turn, fill the fuel in bottles for onward sale on table tops. The Volta Regional Manager of NPA, Mr Godwin Yaw Konu, who made the call at a media engagement in Ho, last Friday, said the NPA could not guarantee the quality of such petroleum products. Therefore, he said that in case of damage to vehicles as a result of the use of such unapproved products, the NPA could not help the affected motorists to seek redress. He urged motorists to buy petroleum products only from approved retail outlets. As a proactive step, Mr Konu indicated that the NPA had, in collaboration with the security agencies, embarked upon swoops in the Ketu South and Ketu North constituencies in the Volta Region and arrested some of the smugglers. Besides, he said a delegation from the NPA, led by a Deputy Chief Executive, had visited Togo and held discussions with the authorities responsible for petroleum products and security to agree on a collaborative effort to confront the smuggling of petroleum products to Ghana. The media engagement organised by the Communications Department was to highlight the NPA’s activities in the petroleum downstream industry and respond to industry-related questions from the media. In his presentation, the Head of Planning of NPA, Mr Dominic Aboagye said 80 per cent of the country’s fuel consumption was dependent on import. He said local refining of crude oil by Akwaaba Oil Refinery and the Platon Refinery were supporting the local market and indicated the completion of the Sentuo Refinery, also a privately owned company, which would generate about 100,000 metric tonnes of fuel per day at full capacity, would greatly reduce the country’s dependency on imports. In a welcome address on behalf of the NPA Chief Executive, Dr Mustapha Abdul-Hamid, the Director of Economic Regulation and Planning, Mrs. Alpha Welbeck said the focus of this year’s education was on the security of the supply of petroleum products and the requirements for siting filling stations. In her remarks, the Director of Corporate Affairs of NPA, Mrs. Maria Edith Oquaye urged the media to get in touch with the Authority for information and clarification on issues related to the petroleum downstream petroleum industry to provide accurate information to the public.     Source: https://energynewsafrica.com

OPEC Minister Downplays Need For Further Production Cuts To Balance Market

A key OPEC+ minister played down the need for further cuts to balance supply and demand, weeks after the organization shocked the oil market by announcing a round of large production reductions. “I’m not that worried about the very, very short term,” Suhail Al Mazrouei, the energy minister for the United Arab Emirates, told reporters in Abu Dhabi Tuesday. “Let’s wait. This is not a prediction that I can give now or a decision, this is a collective decision,” on whether further OPEC+ supply adjustments are needed, he said. OPEC and its allies are currently proceeding with preparations for an in-person meeting at its Vienna headquarters next month. The UAE is the third-biggest producer within group. Crude has retreated more than 9% this year, with futures whipsawed by the Federal Reserve’s monetary-tightening campaign, concerns of a U.S. recession, and countervailing hopes for resurgence in Chinese demand. The decline in prices has come despite last month’s surprise production cut by the Organization of Petroleum Exporting Countries and its allies including Russia. Al Mazrouei warned that the bigger risk to supply was the weak level of investment over the coming years. “If we don’t see companies and countries investing, we could see a shortage in the future,” he said.     Source: WorldOil.com

Africa Needs $700 Billion In Clean Energy Investment

Africa will need financing of around $700 billion in the next decade to expand green energy development and the mining of key energy transition metals such as cobalt, copper, and lithium, a top executive at Africa’s top lender by assets said. Millions of people in Africa do not have access to electricity, and renewables could be part of the solution, analysts say. At the same time, Africa has resources such as cobalt in the Democratic Republic of Congo, copper in Zambia, platinum and manganese in South Africa, and lithium deposits in Zimbabwe.   The investment in further development of these resources and funding for more renewable energy power generation will have to come mostly from international investors and institutions because Africa’s banks will not be able to provide all the lending, South Africa-based Standard Bank Group says. “Many of the minerals that are required to build solar panels, lithium batteries, wind turbines and so on, are found in sub-Saharan Africa,” Kenny Fihla, chief executive officer of Standard Bank’s corporate and investment banking unit, told Bloomberg.   “Our team has also quantified the amount of investment that is required in that space as in the order of hundreds of billions of dollars,” Fihla added. Standard Bank itself expects to reach the “upper end” of lending – the equivalent of around $13 billion – for renewable energy by 2026, the bank’s executive said.   Standard Bank, however, has defended its role in funding fossil fuel projects. The bank says that access to energy in Africa will continue to drive its support for fossil fuel projects. “It is not possible for Africa and many of the African countries to ignore the shortage of electricity supply,” Fihla said in a recent interview with Bloomberg. “Today’s challenges are not going to be resolved overnight and therefore a much more balanced approach is required,” the executive added.       Source: Oilprice.com

Ghana: TUC Storms Chinese Power Firm To Demand Reinstatement Of Three Dismissed Workers

The umbrella body of the Ghanaian workers, the Trades Union Congress (TUC), on Tuesday, stormed the Chinese power firm, Sunon Asogli Power Ghana Limited, to protest the dismissal of three staff of the company who are executives of the Ghana Mines Workers’ Union (GMWU). The TUC, led by its Secretary-General, Dr. Yaw Baah, gathered at the Methodist Church in Kpone and walked through the streets to a police barricade close to the power plant. The TUC Secretary-General, Dr Yaw Baah; National Chairman of Ghana Mines Workers’ Union Abdul-Rauf Issahaku; and the General-Secretary, Abdul-Moomin Gbana, took their turns to address the protesters. They accused the management of Sunon Asogli Power Ghana of disrespecting the labour laws of Ghana. The General Secretary of Mines Workers’ Union, Abdul-Moomin Gbana said the staff of Asogli Power Ghana Limited approached them to join the union and engaged their management and conducted an election to select union executives. He said few days after the selection of the executives, management sacked three executives including the chairman. According to him, Ghana is not a banana republic where laws are not respected and warned the company to desist from breaching the laws of Ghana. He said both the Labour Law and the 1992 Constitution of Ghana allow freedom of association and the formation of unions. “We are not against any investor coming to Ghana, but Sunon Asogli’s $750 million cannot buy our rights so today, we are demonstrating to the whole world that unions in this country will exercise our rights. “Our demands are very simple and we have made it clear to our employer that our three colleagues must be reinstated and we will fight and fight till they are reinstated.” General Secretary of TUC, Dr Yaw Baah called on President Nana Akufo-Addo to wake up and ensure that Ghanaians are not mistreated by their foreign employers. He said failure on the part of the President to intervene to reinstate the workers would compel the TUC to mobilise and picket at the Jubilee House, the seat of Government. Meanwhile, Sunon Asogli Power Ghana Limited has rejected claims that they are against the formation of a union in the company. The company, in a statement issued last week, said it is rather against the procedure being adopted by the Ghana Mine Workers Union. They accused the TUC of failing to engage with management and rather siding with the Mines Workers Union.        Source: https://energynewsafrica.com

EU Looks To Extend Trade Restrictions On Companies Aiding Russia

The European Commission has proposed to EU member states to consider trade restrictions on companies from China, Hong Kong, the UAE, Uzbekistan, and Armenia which are thought to be helping Russia obtain technology for its military and industrial complex, Bloomberg reported on Monday, quoting draft proposals it had seen.    The Commission is targeting companies considered to be “directly supporting Russia’s military and industrial complex in its war of aggression against Ukraine,” according to a document Bloomberg has viewed. The EU’s executive arm is looking to impose “stricter export restrictions regarding dual-use goods and technology, as well as goods and technology which might contribute to the technological enhancement of Russia’s defense and security sector,” a document reads. The Financial Times reported on Sunday about the EU’s proposal. Asked to comment on the report, Chinese Foreign Ministry spokesman Wang Wenbin said at a regular press conference today that “If the report you cited is true, the EU move will erode mutual trust and cooperation with China and sharpen division and confrontation in the world, which is extremely dangerous.” “We call on the EU not to take that wrong course. Otherwise, China will take resolute measures to safeguard our legitimate and lawful rights and interests,” the Chinese official added. Last month, Bloomberg reported that officials from the G7 group of the world’s most industrialized nations are discussing the idea of an outright ban on nearly all exports to Russia in another move aimed at hurting the Russian economy over Putin’s invasion of Ukraine. The G7 officials are discussing the idea ahead of a summit of the leaders in Japan this month, with the goal of bringing the EU into the fold of countries banning nearly all exports to Russia, according to Bloomberg’s sources. However, an EU implementation of such sanctions would need the approval of all 27 member states, which would create a lot of differences among EU nations and fears of retaliation from Russia.          Source: Oilprice.com