Nigeria: Group Cautions Market Operator And Discos Against Insensitive ActionsIn the scheme’s first demand-collecting round, which closed on Tuesday, 65 European companies registered demand to jointly buy gas, EU Commission Vice President Maros Sefcovic said. In total, 101 firms have now registered interest in the platform either as buyers or sellers – an initial response that Sefcovic said had “exceeded our expectations”. Sefcovic said the scheme aimed to improve gas market access for smaller companies and tame energy prices for Europe’s energy-intensive industries like fertiliser and steel producers. “The prices as we have seen them last year, and I would say even prices until now – we cannot accept them as a new normal,” he told Reuters in an interview. Czech energy firm CEZ, Spain’s Cepsa and Poland’s PKN Orlen are among the companies that plan to take part in the joint buying scheme, spokespersons for the firms said. Around 19 of the 101 companies registering interest have also signed up as intermediaries to represent multiple smaller firms that want to pool their demand. EU officials have said some large energy firms had expressed reluctance to take part, questioning what incentive they had to join as they can already negotiate their own gas deals at competitive prices. Most of the registered gas demand – 77% – is for deliveries to points in pipeline networks, while 23% is for liquefied natural gas, Sefcovic said. He declined to confirm the outright volume of gas being sought through the scheme, which cannot purchase Russian gas. “We are reaching out to all international suppliers with the exception of Russia,” Sefcovic said. As a next step, the EU platform will collect offers from suppliers, and match buyers with suppliers by 17 May. Matched companies will then negotiate gas contracts. The EU will not be involved in those commercial talks. Source: Reuters
EU Joint Gas Buying Scheme Attracts Demand From 65 Firms
More than 60 companies have submitted demands to buy gas through the European Union’s scheme for joint purchases, with the bloc aiming for the first deals to be signed within months.
The EU is launching a joint gas buying scheme to help fill gas storage ahead of winter – and avoid a repeat of the record-high energy prices and fears of energy shortages in Europe last year after Russia slashed gas deliveries.
Ghana: GRIDCo Holds SCADA Upgrade Site Project Meeting With Hitachi Energy
Staff of Hitachi Energy, contractors for the Supervisory Control And Data Acquisition (SCADA) Upgrade Project, have visited GRIDCo to gain first-hand information on the status of the Project.
The team of two (2) Project Managers from Hitachi ABB, met with the GRIDCo Project Team (from the System Operations Department and MIS Section), tasked with the SCADA works, to review the project plan and ensure that, the agreed milestones of the project are met.
The week-long meeting, chaired by the Director of System Operations, Mr. Frank Otchere, featured design workshops to review and finalise the design of the new SCADA system.
A review of required equipment was also conducted to facilitate the procurement and installation processes.
The SCADA Upgrade project will upgrade GRIDCo’s Network Manager System (NMS) application and Servers to the latest versions, making it more robust against software attacks, as well as increasing its functionalities.
The project also includes a new video wall for the System Control Centre and a backup control centre for emergency situations.
Angolan Energy Infrastructure Poised To Spur Growth And Diversification
For Angola to achieve its targeted 9.9 GW of installed generation capacity and 60% electrification rate by 2025, the country’s Government has instituted an ambitious infrastructure plan.
This plan is supported by a series of regulatory reforms, incentives for investors, and strategic partnerships that will require the execution of bankable Power Purchase Agreements, external financing, and the participation of experienced private sector developers.
For the country to support new production capacity, power transmission infrastructure in Angola will have to be enhanced. As such, Angola’s Energy Sector Efficiency and Expansion Program Phase I will serve to connect the country’s three grid systems – the northern, central, and southern systems – through the construction of a 16,340km-long 400 kV North-Central-South transmission line by 2025.
The interconnection system will evacuate approximately 1,000 MW of low-cost hydropower from the Kwanza River basin to the country’s capital and other population centers in the southern part of Angola.
This project is being implemented through a collaboration between the U.S. Agency for International Development’s Power Africa initiative and multilateral development financial institution, the African Development Bank (AfDB), as part of efforts to improve electricity distribution and strengthen the financial viability of the power market.
The project will be overseen by Angola’s Ministry of Energy and Water and will involve a $530 million investment from the AfDB.
What’s more, under the country’s Angola 2025 Plan, the Government’s stated renewable energy production goal is 700 MW.
As such, the Government approved three solar projects that include the development of seven solar power plants with a combined capacity of 370 MW, which are set to be constructed over the next four years across the Benguela, Huambo, Bié, Luanda Norte, Luanda Sul, and Moxico Provinces. Additionally, the Plan includes the construction of a 50 MW solar plant in the Namibe Province, which will be developed by Solenova, a joint venture between oil and gas supermajor, Eni, and Angola’s state-owned Sonangol.
Furthermore, a 30-100 MW solar photovoltaic power plant in the Huíla Province is being developed through a consortium that includes multinational energy company, TotalEnergies, and Angolan energy company, Angola Environment Technology.
With regards to hydropower, construction of the country’s 960 MW Cambambe and 2,070 MW Laúca hydroelectric power stations have been largely completed, while the 2.2 GW Cacula Cabaça hydroelectric power station is expected to initiate commercial commissioning by 2024.
Furthermore, Angola’s Ministry of Energy and Water has identified nearly 100 locations to produce up to 600 MW of renewable electricity from mini-hydro power stations – which will each have a capacity of less than 10 MW – throughout the country’s vast river network.
Development of these projects will require significant external financing and private sector participation to feasibly contribute to Angola’s energy sector transformation.
Meanwhile, significantly contributing to Angola’s current installed capacity of 5.6 GW, the 750 MW Soyo I combined cycle plant is currently generating 500 MW of electricity.
Plans are currently underway to develop a second Soyo combined cycle plant, which will contribute an additional 750 MW to the country’s grid. In May 2018, the Government of Angola passed the Natural Gas Commercialization Law, which is poised to encourage the provision and development of energy production equipment for natural gas, thus attracting further private investment to the country.
Angola currently serves as a non-operating member of the cooperation of national electricity companies in Southern Africa, the Southern African Power Pool.
Angola is poised to join the entity through the implementation of a connective network between Angola and Namibia through the construction of the 600 MW Baynes Dam hydroelectric plant.
Furthermore, a connection in the north of Angola with the Democratic Republic of the Congo is also being considered, through which the two countries’ grids would be connected through the Inga hydroelectric dams.
With the country’s national budget dedicated to the production, transmission, and distribution of electricity having increased from $482 million in 2021 to $490 million in 2022, Government support to promote the successful implementation of projects led by the private sector will be imperative towards supporting Angola’s power distribution capabilities.
As such, major opportunities for foreign investors and strategic partners to participate in the transformation of Angola’s energy sector exist to improve the regulatory environment within the country; develop energy regulation, planning, and procurement; and enable regional harmonization and cross border trade.
All this and more will be discussed at this year’s Angola Oil & Gas (AOG) 2023 Conference and Exhibition, the country’s official energy conference, which will return to Luanda for its fourth edition this year.
Organized by Energy Capital & Power, AOG 2023 will highlight Angola’s role as an emerging regional energy hub while promoting strategic partnerships and the country’s investment opportunities spanning the upstream, midstream, and downstream sectors; renewable energy; and infrastructure.
Source: Energy Capital & Power
The Outlook For African Oil In 2023 Is Promising (Opinion)
By: NJ Ayuk
Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated demand for crude oil, and African exports dropped sharply.
That’s why — though many African states are still feeling the wounds inflicted by COVID — I find it encouraging to learn that Africa’s liquids supply in 2023 has reached nearly 7 million barrels per day (MMbbs/d), more than 430,000 barrels per day (bpd) above Africa’s 2020 lows of about 6.55 MMbbs/d.
This progress is among the topics covered in the African Energy Chamber’s newly released State of African Energy Q1 2023 Report.
The report details the emerging trends shaping the world’s oil economy and highlights Africa’s role in meeting global demand.
And the overall outlook for African oil production in 2023 is promising.
Russian energy supplies to Europe continue to decline in the wake of the Ukraine war, Africa is poised to increase its oil and natural gas exports to the continent, and African oil supplies are expected to remain steady throughout 2023 and beyond.
Highlighting Africa’s Role in the Global Oil Economy
The State of African Energy Q1 2023 Report provides several key insights into African oil production for the remainder of this year.
- The 2023 global liquids (crude + condensates) month-on-month outlook is expected to stay flat and stable with an annual average of 83.4 million bpd.
- Africa’s liquids supply is expected to contribute 8% of the global volume over the year.
- The continent’s top five producers—Nigeria, Libya, Algeria, Angola, and Egypt—will contribute to over 80% of Africa’s 2023 liquids output.
- While the majority of the production from Nigeria and Angola is from offshore projects, Algeria, Libya, and Egypt’s production comes from their respective onshore fields. Libya is expected to deliver increased 2023 production as its civil war subsides.
New York State Successfully Passes Ban On Natural Gas Stoves
New York successfully passed a law late to ban natural gas stoves and appliances in all new buildings. It is the first state in the nation to pass such legislation.
New York Governor Kathy Hochul and Democratic lawmakers passed the state’s new $229 billion budget, which included a provision for ending natural gas and other fossil fuel-powered hookups in new buildings.
The legislation includes a ban on gas stoves, gas furnaces, and propane heating in all residential buildings seven stories and shorter by 2026.
Buildings taller than seven stories will be allowed to install gas-powered appliances until 2029.
Large industrial buildings are exempt from the ban.
Late last week, The Washington Post reported that Governor Hochul and lawmakers reached a handshake deal on the new law.
Some cities have already passed bans on gas stove hookups, including Berkley, California, which passed a ban in 2019.
Last month, however, an appeals court ruled against the city of Berkley, California, over its scheme to ban natural gas hookups in new buildings.
In the ruling, the court sided against Berkely, saying that its 2019 ban on natural gas hookups effectively banned all appliances operating with natural gas, which it was not allowed to do because of federal legislation that pre-empts such local legislation.
New York City passed its own version of a gas hookup ban for new builds in 2021.
Hochul said that the new budget would put “New York on trajectory to a cleaner, healthier future.”
But the American Gas Association president and CEO Karen Harbert said that “Any push to ban natural gas would raise costs to consumers, jeopardize environmental progress and deny affordable energy to underserved populations,” according to CNN.
Source:Oilprice.com
Nigeria: Group Cautions Market Operator And Discos Against Insensitive Actions
A consumer advocacy group, PowerUp Nigeria, has cautioned Market Operator, a subsidiary of Transmission Company of Nigeria (TCN), to be mindful not to take decisions that negatively affect consumers.
The Market Operator, last week, disconnected some Discos from the national grid over a breach of Market Rules.
The development plunged many areas into darkness, with some soldiers in Kebbi, storming the head office of Kaduna Electric Distribution Company to molest customers and staff on duty.
A statement issued by Adetayo Adegbemle, Executive Director of PowerUp Nigeria, said the list of 13 “defaulters” include distribution companies that could be considered “healthy” but mostly populated with Discos that recently entered into receivership among which are Ibadan, Benin, Kaduna and Kano DISCOs.
“After the Tuesday, March 21st, 2023 publication, the MO went ahead to partially disconnect both Kano and Kaduna Discos. Again, both companies that have recently gone into receivership barely eight months ago, for the same reasons, they went into receivership in the first instance.”
The group said it gathered that the response by these Discos to the March 21st publication by the MO was not really considered, with the MO demanding and insisting on bank guarantees from these defaulting Discos to cover their market shortfall despite being in a receivership status.
“Admittedly, Market Rules MUST be followed by ALL Market Participants, but we should not be oblivious to the realities on the ground.
“Liquidity issues in the NESI is a problem that has been in existence for over nine (9) years since after the privatization, and it is a wonder why the MO and Regulators expect things to change overnight.”
Since the takeover by these DISCOs in July 2022 by the temporary boards, every metric that the regulators and the market use to measure performance by the Discos have improved considerably.
It must be noted that the performance of these companies has shown an upward trajectory in the last eight months, particularly their remittance to the market.
“We should be careful, in our bid to enforce Market Rules, not to aggravate the liquidity challenges of thedefaulting Market Participants, and throw away the little progress that might have been achieved in the last eight months. We, therefore, encourage an active engagement with the affected defaulters to seek a way lasting solution to the market shortfall issue without causing undue hardship to the defaulters and their customers affected by the disconnection.
“At the end of this imbroglio are consumers and industries that will continue to suffer the fallout, and the further loss of confidence from would-be investors that might be interested in buying the ailing Discos,” the group warned.
Source: https://energynewsafrica.com
Ghana: Students Learn How To Earn “Cash From Trash” Thanks To Circular Economy
Vivo Energy Ghana, the exclusive marketer and distributor of Shell branded fuels and lubricants in partnership with the United Way Ghana, have commemorated Earth Day at the La Enobal Basic School under the theme “Cash from Trash”.
Earth Day is an annual event day celebrated on April 22 globally. On this special occasion, businesses, individuals or any organisations are invited to promote activities that help preserve the environment.
For United Way Ghana and Vivo Energy Ghana, it was the opportunity to involve employees and volunteers of both companies to mark the day with an educational activity.
Pupils from the La Enobal Basic School were taught how they could generate revenue from their waste to help finance their basic needs; an act that is geared towards promoting sustainable waste management practices and protecting the environment under the Sustainable Development Goals 3, 13 and 15.
At the event, Vivo Energy Ghana’s Green Champions, a dedicated group of employees leading green initiative in the company, demonstrated various ways of recycling waste into cash, including recycling and upcycling. They also provided practical tips on how to reduce waste and conserve the environment.
Commenting on the partnership, Vivo Energy Ghana’s Managing Director, Mr. Kader Maiga, said, “We are delighted to partner with United Way to commemorate Earth Day. At Vivo Energy, we are committed to promoting sustainable waste management practices and protecting the environment. We believe that by working together, we can make a difference and create a more sustainable future for all.”
The Head Teacher of La Enobal Basic School, expressed his appreciation to Vivo Energy and the United Way for organising the event.
He said, “This event has been very informative and educative. Our students have learned a lot about the importance of protecting the environment and how to recycle waste to generate cash. We are grateful to Vivo Energy Ghana and the United Way for their support.”
Vivo Energy Ghana in line with its sustainability framework has engaged in various environmental projects to encourage individuals and organizations to take actions towards building a circular economy.
Ghana: Sunon Asogli Power Ghana Hosts Students From Kpone
Ghana’s largest independent power producer, Sunon Asogli Power Ghana Limited, has hosted students of Kpone Community Day Senior High School, Kpone Community Basic School, The Brilliant Soul Int. School and Kingdom Stars Academy at their power plant.
The three schools are all located in Kpone where the Sunon Asogli Power Plant is located.
Sunon Asogli has been a promoter of Science, Technology, Engineering and Mathematics (STEM) in the Kpone community and so on Friday, as part of efforts to deepen the relationship with the community, Sunon Asogli organised an Open Day for about 100 students.
The students were taken through safety drills and operations of the company and later toured the power plant, including the control room.
The students especially those who want to pursue engineering courses, were excited to be taken around the plant to know for the first time, how electricity is produced.
Addressing the students, the Chairman of Sunon Asogli Power Ghana Limited, Yang Qun noted that Science, Technology, Engineering, and Mathematics (STEM) is a gateway to the nation’s innovation, progress and prosperity.
He said in an ever-changing world driven by technological and scientific advancements, “we must provide our children with the tools and knowledge they need to thrive in this changing landscape.
“By focusing on STEM education, we provide our young learners with the foundation to unlock their potential and pursue rewarding careers in fields that are shaping the future. STEM education fosters critical thinking, problem-solving abilities and a thorough understanding of the world around us,” he stated.
He noted that knowledge does not lie in theory only but also in practical application, stating that it is essential that not only children should learn the concepts but also gain hands-on experience, bridging the gap between theory and practice.
“Today’s Open Day aims to accomplish this. As we open the doors of Sunon Asogli Power to our young ones, we have arranged a tour to understand how electricity is generated, a career talk from our engineers and other fun activities.
“We hope that they leave here today with a renewed sense of wonder, knowledge and the belief that they can achieve anything they set their minds to.”
Source: https://energynewsafrica.com
The students were taken through safety drills and operations of the company and later toured the power plant, including the control room.
The students especially those who want to pursue engineering courses, were excited to be taken around the plant to know for the first time, how electricity is produced.
Addressing the students, the Chairman of Sunon Asogli Power Ghana Limited, Yang Qun noted that Science, Technology, Engineering, and Mathematics (STEM) is a gateway to the nation’s innovation, progress and prosperity.
He said in an ever-changing world driven by technological and scientific advancements, “we must provide our children with the tools and knowledge they need to thrive in this changing landscape.
“By focusing on STEM education, we provide our young learners with the foundation to unlock their potential and pursue rewarding careers in fields that are shaping the future. STEM education fosters critical thinking, problem-solving abilities and a thorough understanding of the world around us,” he stated.
He noted that knowledge does not lie in theory only but also in practical application, stating that it is essential that not only children should learn the concepts but also gain hands-on experience, bridging the gap between theory and practice.
“Today’s Open Day aims to accomplish this. As we open the doors of Sunon Asogli Power to our young ones, we have arranged a tour to understand how electricity is generated, a career talk from our engineers and other fun activities.
“We hope that they leave here today with a renewed sense of wonder, knowledge and the belief that they can achieve anything they set their minds to.”
Source: https://energynewsafrica.com Ghana: Gold-For-Oil Programme Compelled BDCs To Import Cheaper Fuel-BOST MD
The fuel consignment brought into the West African nation under the ‘Gold for Oil’ programme compelled the Bulk Oil Distribution Companies to negotiate with their fuel suppliers for lower prices, Managing Director for Bulk Oil Storage and Transportation Company Limited (BOST), Edwin Alfred Nii Obodai Provencal, has stated.
According to him, before the implementation of the ‘Gold for Oil’ programme introduced to stem rising fuel prices and depreciation of Ghana’s local currency, the Cedi, BDCs were bringing in products with a premium of US$120 per metric ton.
He said after BOST brought in the first cargo in February 2023 with a premium of US$70 per metric and subsequent cargoes, BDCs were compelled to negotiate with their suppliers for lower prices.
For instance, he said about three weeks ago, BOST brought in products with a premium of US$50 per metric ton, and some BDCs managed to bring in products with a premium of about US$45 per metric ton, which is lower than the premium on the products BOST brought.
“The last time we brought products with a premium of US$50, some BDCs managed to bring products at US$45 premium,” Mr Provencal revealed on Accra-based Oman FM.
According to him, the conditions that persisted when the BDCs were bringing in products at a premium of US$120 per metric ton had not changed and wondered why they are now able to bring in products cheaper.
“How come that some BDCs are sometimes able to bring in products lower than fuel under the ‘Gold for oil’ programme?” he quizzed.
Responding to the comments made by the BOST MD, Dr. Patrick Ofori, who is the CEO of the Chamber of Bulk Distribution Companies (CBOD), commended the government for the introduction of the programme.
He, however, accused the government of skewing the programme in favour of BOST.
Again, he expressed unhappiness about the preferential treatment being given to BOST, saying it is threatening the financial viability of most BDCs.
Source: https://energynewsafrica.com
Kenya : Joseph Siror Appointed As New CEO Of Kenya Power
The Kenya Power Board of Directors has appointed Dr. (Eng.) Joseph Siror as the new Managing Director & Chief Executive Officer of the company.
Siror takes over from Eng. Geoffrey Muli who has been holding the position in an acting capacity since May 2022.
Prior to his appointment, Siror was General Manager in charge of Technical Services (System Operations and Power Management) at the Kenya Electricity Transmission Company (KETRACO).
Siror holds a Doctor of Philosophy (PhD) degree in Engineering from Shanghai Jiaotong University (China) majoring in Radio Frequency Identification (RFID, a Master of Business Administration (MBA) degree and a Bachelor of Science (BSc) in Electrical Engineering degree from the University of Nairobi.
He also holds a bachelor’s degree in law from the University of London, a pre-Kenya School of Law certificate from Riara University and a Postgraduate Certificate in Applied Radiation Protection from the University of Nairobi.
He previously worked as a Director of Science, Technology Innovation and Communication at the National Economic and Social Council (NESC).
He has also served as a Senior Assistant Commissioner at the Kenya Revenue Authority (KRA); the Kenya Posts and Telecommunications Corporation and at Firestone East Africa Limited as an Executive Engineer and Senior Systems Analyst respectively.
Siror is a member of the Institute of Electrical and Electronics Engineers (IEEE) and a licensed Professional Electrical Engineer with the Engineers Board of Kenya (EBK).
He is also a Corporate Member of the Institute of Engineers in Kenya (IEK).
“The Board also wishes to recognize and appreciate the services of both Eng. Muli and Eng. Rosemary Oduor, who served in an acting capacity from April 2021 to May 2022 and remain key to the Company’s transition strategy,” Kenya Power Board chair Joy Brenda said in a statement.
Source: https://energynewsafrica.com
Norway Set To Accelerate Arctic Oil And Gas Drilling
Companies operating in the Norwegian Continental Shelf are planning for more drilling in the Arctic areas in the Barents Sea, encouraged by Norway’s government which wants more oil and gas discoveries to boost energy security and help European partners with energy supply.
At a conference on the Barents Sea in Hammerfest last week, Norway’s Petroleum and Energy Minister Terje Aasland called on oil and gas companies to fulfill their “social responsibility” and “leave no stone unturned” to find more natural gas resources in the Barents Sea, the area estimated to hold most of Norway’s undiscovered oil and gas resources.
“The petroleum adventure in the north has only just started,” Aasland said, adding that the government would help the Barents Sea industry as Norway must develop, not liquidate, its petroleum industry.
Apart from being in a harsher environment so far north, the Barents Sea poses another roadblock to developing oil and gas resources—the north lacks the infrastructure in the more developed areas on the shelf that would make tie-ups and resource development easier.
Still, operators are not giving up.
“Even if we want to maintain production, we have to explore more, we have to find more,” Torger Rod, CEO of Barents-focused energy producer Var Energi, told Bloomberg in an interview.
In March, Var Energi confirmed an oil discovery in the Countach well in a production license northwest of Hammerfest near Goliat, one of two operational oil and gas fields in the Barents Sea.
Var Energi will consider potential commercial development options and tie-in of the discovery to Goliat FPSO.
“This discovery is yet another in a series of successful exploration wells in the Barents Sea in recent years, including Lupa – the largest discovery on the Norwegian shelf in 2022. At the same time, the discovery confirms our exploration strategy and our position in the area,” said Rune Oldervoll, EVP Exploration and Production in Var Energi.
Equinor, which plans to start production from the Johan Castberg field in the Barents Sea at the end of 2024, is also betting on obtaining more licenses in the Arctic.
Early this year, the Norwegian Ministry of Petroleum and Energy proposed including additional areas in the Norwegian Sea and the Barents Sea in the next licensing round for Awards in Predefined Areas (ARA) expected to be awarded in early 2024.
“The North has always been important for us,” Grete Birgitte Haaland, senior vice president for exploration and production north at Equinor, told Bloomberg.
“We want to explore more and we think we will find more.”
Source: Oilprice.com
Congo: Eni Begins Development Of Congo LNG Project
The President of the Republic of the Congo, Denis Sassou Nguesso, and the Chief Executive Officer of Eni, Claudio Descalzi, last week laid the foundation stone of Congo LNG, the country’s first natural gas liquefaction project and one of Eni’s core supply diversification initiatives.
The project is expected to reach an overall liquefied natural gas (LNG) production capacity of 3 million tons per year (approximately 4.5 billion cubic meters/year) from 2025.
Congo LNG will exploit the huge gas resources of Marine XII, fulfilling the country’s power generation needs while also fuelling LNG exports, supplying new volumes of gas to international markets focusing on Europe.
The project, made though an accelerated development schedule and a zero-flaring approach, will see the installation of two floating natural gas liquefaction plants (FLNG) at the Nenè and Litchendjili fields – already in production – and at the fields yet to be developed.
The first FLNG plant, currently under conversion and with a capacity of 0.6 million tonnes per year (MTPA), will begin production in 2023. The second FLNG plant – already under construction – will become operative in 2025 with a capacity of 2.4 MTPA.
Claudio Descalzi, Eni’s Chief Executive Officer, commented: “Today we celebrate the launch of one of Eni’s main projects, made possible by the collaboration with the Republic of the Congo and destined to significantly contribute to both Italy and Europe’s energy security and industrial competitiveness.
”This outcome speaks to the importance of long-term collaboration with our African partners at a time when important strategic choices need to be made in regards to future diversification of supply routes and European energy mixes, in the direction of energy accessibility and availability and progressive decarbonisation.”
Eni has been operating in Congo for over 50 years and – to date – is the only company active in the development of its gas resources, guaranteeing 70% of national electricity production through the Centrale Electrique du Congo (CEC).
Eni is strongly committed to promoting energy transition in the country.
Recently, the Oyo Center of Excellence for Renewable Energy and Energy Efficiency was handed over to the Ministry of Higher Education, Scientific Research and Technological Innovation of the Republic of the Congo, which will manage it together with UNIDO (United Nations Industrial Development Organization).
Furthermore, the company is developing agri-feedstock production initiatives destined for biorefining and not in competition with the food supply chain.
Source: https://energynewsafrica.com
TotalEnergies To Buy LNG From ADNOC Gas For $1 billion
The United Arab Emirates’ state energy company has signed a deal to supply TotalEnergies SE with liquefied natural gas (LNG), as Europe tries to secure more of the fuel following Russia’s invasion of Ukraine.
ADNOC Gas Plc, a listed subsidiary of Abu Dhabi National Oil Co., will provide the super-chilled fuel to the French firm under a three-year agreement running until 2025, according to a statement on Monday.
Its value is expected to be between $1 billion and $1.2 billion at today’s prices, ADNOC said, without disclosing the volumes involved.
The LNG will “be delivered to various export markets around the world,” ADNOC said.
European gas prices have plummeted this year after surging following Russia’s attack and decision to cut supplies to Europe in retaliation against sanctions. But at almost €40 a megawatt-hour, they’re still above historical averages and many analysts predict they will rise ahead of Europe’s next winter.
The continent has bought more LNG from the U.S. and piped gas from Norway in the past year. Officials from European Union states have also traveled extensively to gas-rich nations such as Algeria, Qatar and the UAE in an attempt to lock-in more supplies.
The UAE is spending billions of dollars to almost triple its LNG production capacity to 15 million tons annually in the next fear years.
Source: Worldoil.com
Ghana: Petrol, Diesel Prices Reduced Marginally
Oil Marketing Companies (OMCs) in the Republic of Ghana have adjusted their pump prices downward, with some selling both petrol and diesel below Gh¢12 per litre.
Unlike other parts of Africa where fuel prices are reviewed monthly, in Ghana, fuel prices are reviewed every two weeks.
Given this, Oil Marketing Companies, on Tuesday, started reducing their pump prices to reflect the fall in prices of both finished products and crude oil prices on the international market.
A litre of petrol and diesel is now selling between Gh¢11.99 and Gh¢12.64.
As at Tuesday morning, leading indigenous Oil Marketing Company GOIL , Totalenergies and Shell lowered their pump prices with both petrol and diesel selling at Gh¢12.64 per litre.
Both Goil and Shell sold petrol and diesel at Gh¢13.10 and Gh¢12.99 per litre while Totalenergies sold both petrol and diesel at Gh¢12.99 during the last pricing window
Petrosol is selling petrol at Gh¢ 12.28 while diesel is sold at Gh¢12.32 per litre.
Engen Ghana is selling petrol at Gh¢ 12.55 while diesel is sold at Gh¢12.50 per litre.
Star Oil adjusted its pump prices to GH¢11.99 per litre for both petrol and diesel.
Allied Ghana is selling petrol at Gh¢11.95 per litre while diesel is sold at Gh¢12.35
Dukes is selling petrol and diesel at Gh¢11.98 per litre.
Goodness Energy is selling both petrol and diesel at Gh¢11.80 per litre.
Zen Petroleum is selling both petrol and diesel at Gh¢11.80 per litre.
During the first pricing window which ended on Saturday, April 30, 2023, petrol was sold between Gh¢13.10 and Gh¢12.64 while diesel was sold between Gh¢12.99 and Gh¢12.50 per litre.
Source: https://energynewsafrica.com