Ghana:PETROSOL Donates Gh¢30,000 To Support Free Surgeries For Under-Privileged People
Petrosol Ghana Ltd, one of the leading indigenous Oil Marketing Companies (OMCs), has donated GH¢30,000 to the Ghana Reconstruction of Anomaly and Trauma Fund (GRAFT FOUNDATION) aimed at giving a second chance at a normal life to the underprivileged who are facing permanent disfiguration and have no money to undergo surgery to correct the situation.
The company has, for about seven years now, been supporting the GRAFT Foundation financially to transform many lives mostly in rural and peri-urban communities through reconstructive surgery.
Making this year’s donation to GRAFT Foundation, Lawrencia Himans, the Head of Finance and Planning of PETROSOL, indicated that notwithstanding the current economic challenge and its adverse impact on the company’s operations, PETROSOL is still committed to its partnership with GRAFT Foundation and, thus, would support them to continue with their excellent work of addressing the medical needs of victims of trauma from disasters, burns and road accidents, breast cancer as well as treatment of children born with birth defects correctable by plastic surgery.
Receiving the donation, the Chief Executive Officer of the Graft Foundation, Dr Brainerd Anani expressed profound appreciation of the GRAFT Foundation to PETROSOL Ghana’s continuous support for this worthy course to bring hope and smiles to individuals, families and society.
He said 2023 marks the GRAFT Foundation’s 10th anniversary of transforming many lives, and said the support from PETROSOL over the years has significantly helped them come this far.
Source: https://energynewsafrica.com
OPEC+ Oil Alliance Announces Surprise Production Cuts From May
Saudi Arabia and other OPEC+ oil producers have announced voluntary cuts to their production amounting to about 1.15 million barrels per day (bpd), calling it a “precautionary measure” aimed at market stability.
The 23-nation group had been largely expected to stick to its already agreed 2 million bpd cuts when its ministerial panel, which includes Saudi Arabia and Russia, meets virtually on Monday.
In October, OPEC+, which comprises the Organization of the Petroleum Exporting Countries and 10 allies led by Russia, agreed on output cuts of 2 million bpd from November, angering Washington because tighter supply boosts oil prices.
The United States has argued that the world needs lower prices to support economic growth and prevent Russian President Vladimir Putin from earning more revenues to fund the Ukraine war.
Sunday’s unexpected voluntary cuts, which start from May, come in addition to the ones already agreed in October.
Riyadh said it would cut output by 500,000 bpd while Iraq will reduce its production by 211,000 bpd, according to official statements.
The United Arab Emirates said it would cut production by 144,000 bpd, Kuwait announced a cut of 128,000 bpd while Oman’s cut will be 40,000 bpd and Algeria’s 48,000 bpd.
Kazakhstan will also cut output by 78,000 bpd.
Russia’s deputy prime minister said Moscow would extend a voluntary cut of 500,000 bpd until the end of 2023.
Moscow announced those cuts unilaterally in February after the introduction of Western price caps.
After Russia’s unilateral reductions, US officials said its alliance with other OPEC+ members was weakening, but Sunday’s move shows the cooperation is still strong.
A Saudi energy ministry official “emphasised that this is a precautionary measure aimed at supporting the stability of the oil market”, the official Saudi Press Agency said.
Oil prices fell to 15-month lows last month in response to the banking crisis that followed the collapse of two US lenders and resulted in Credit Suisse being rescued by Switzerland’s biggest bank UBS.
“OPEC is taking pre-emptive steps in case of any possible demand reduction,” Amrita Sen, founder and director of Energy Aspects, said on Sunday.
Source : Aljazeera
Ghana: ECG Releases Timetable For Six Hours Loading Shedding Exercise
Ghana’s southern power distribution company, Electricity Company of Ghana has begun a six hour load shedding management exercise across its operational areas in the West African nation effective Thursday night.
According to a timetable released and copied energynewsafrica.com, some areas in Accra, capital of Ghana, Tema, Eastern, Ashanti, Western, Central, and Volta Regions will experience power cuts from 6pm to 11pm from Thursday, March 30 to Friday, April 7, 2023.
The load shedding management exercise follows the shut down of Atuabo Gas Processing Plant operated by Ghana National Gas Company for mandatory maintenance.
A statement issued by the Ministry of Energy, said the Atuabo Gas Processing Plant was shut down on March 25, 2023.
“The shutdown will affect gas supply to some power plants and will ultimately result in interruptions of power supply to some consumers,” the statement issued by the Ministry said.
A statement jointly issued by Ghana Grid Company Limited GRIDCo and ECG on Thursday said the shut down of the gas plant will result in approximately 150 megawatts of power generation shortfall.
Clink on the link below for the full timetable
ECG_LoadMgt_Schedule
Source: https://energynewsafrica.com
Ghana: Ghana Gas, Ivorian Delegation Discuss Gas Pipeline Project
Ghana’s natural gas aggregator, Ghana National Gas Company, has hosted an Ivorian delegation to discuss the bi-directional pipeline project between the two West African nations.
The project is part of a Strategic Partnership Agreement signed in 2017 by the Heads of State of Ghana and Cote D’Ivoire.
The Ivorian delegation was led by Mr.. Noumory Sidibe, Director General of CI-Energies, while Dr Ben Asante, Chief Executive Officer of Ghana Gas, represented the Government of Ghana.
According to a post sighted on the Facebook page of Ghana Gas, it said during the meeting, Dr Ben Asante reiterated Ghana National Gas Company’s commitment to the successful completion of the gas pipeline project.
He emphasised the importance of gas in industrialisation and affirmed that it would not only be used for power generation but also for fertilizer production and other industrial purposes.
Both countries have discovered oil and gas in commercial quantities, making it necessary to have a bi-directional gas pipeline to supply gas to each other based on demand.
The Ivorian delegation also paid a courtesy call to the Ministry of Energy and was received by the Deputy Minister for Energy, Andrew Egyapa Mercer, on behalf of the Minister for Energy.
Source: https://energynewsafrica.com
Uganda: South Africa’s Eskom Hands Over Hydro Power Plants To Uganda Gov’t After 20 Years Operation
South Africa’s power firm, Eskom, has returned two hydropower plants to Uganda after the Ugandan Government declined to renew its licence.
Last year, the Ugandan government announced it would not renew Eskom’s licence when it expired this month, but would instead run the plants as part of plans to reduce power costs to consumers.
Part of those plans, according to the government, was to reduce private capital in the sector.
“We also strongly believe that Eskom has built adequate local capacity that will be able to continue the proper operations and maintenance of the complex,” Energy Minister Ruth Ssentamu Nankabirwa said while taking over the plants from Eskom.
In a speech during Eskom’s transfer, Nankabirwa said state-run Uganda Electricity Generation Company Ltd (UEGCL) would now operate the plants.
She said the government was conducting an audit to determine if it owed Eskom any compensation for ‘unrecouped’, investments.
“The Government of Uganda is ready to fulfil the outstanding obligations that will arise out of this audit,” the Minister noted.
Under a 20-year concession signed in 2002, Eskom had been running the two plants located at the source of the River Nile in Jinja, about 90km (56 miles) East of the capital, Kampala.
Both plants have a combined installed generation capacity of 380 megawatts.
Source: https://energynewsafrica.com
Ghana: Breaking News: Ghanaians To Experience Load Shedding For 14 Days
Ghanaians will be experiencing power outages in the next fourteen days as the country’s Energy Ministry announces shut down of Atuabo Gas Processing Plant operated by Ghana National Gas Company.
According to the Ministry of Energy, Ghana National Gas Company shut down its Atuabo Gas Processing Plant on March 25, 2023, for mandatory maintenance and the exercise is expected to last for 14 days.
“The shutdown will affect gas supply to some power plants and will ultimately result in interruptions of power supply to some consumers,” the statement issued by the Ministry said.
Ghana: South Africa High Commissioner To Ghana Visits Sunon Asogli Power
South Africa’s High Commissioner to the Republic of Ghana, Her Excellency Grace Mason, has paid a working visit to the Sunon Asogli Power plant at Kpone in the Greater Accra Region.
Sunon Asogli Power Ghana is the largest private power-producing company in the Republic of Ghana.
The visit by the High Commissioner follows a courtesy call last month to the embassy in Accra by a business delegation of the company led by its Chairman, Mr Yang Qun, and Director, Togbe Afede XIV.
Togbe Afede XIV, speaking on behalf of the company, thanked Her Excellency for keeping her promise to visit Sunon Asogli Power.
He then used the occasion to highlight the company’s accomplishments as well as some of its challenges since 2007.
Togbe Afede XIV explained that what is notable is the “Shenzhen Speed”—the passion and record time at which Shenzhen Energy executes its projects.
He later requested the High Commissioner’s assistance in making Shenzhen Energy’s vision of establishing a presence in South Africa a reality as soon as possible.
The South African High Commissioner, H.E. Grace Janet Mason, for her part, welcomed the company’s pledge to invest in South Africa’s power sector.
She emphasised that South Africa’s electricity market is more developed and stable, providing a better investment climate for investors.
She added that South Africa is also politically stable, with the rule of law and additional laws protecting investors.
She went on to say that Shenzhen’s energy investment in South Africa’s power sector would come at an optimal time because it would increase the country’s electricity supply.
She mentioned that Ghana has many South African investments in operation, however, she emphasized that investment between the two countries has historically been one-way, so she is pleased that Ghana is acting as a conduit for Chinese investment into South Africa.
Her Excellency invited Sunon Asogli to attend the 2023 South Africa Investment Conference, which would be held in Johannesburg in mid-April.
Source: https://energynewsafrica.com
She emphasised that South Africa’s electricity market is more developed and stable, providing a better investment climate for investors.
She added that South Africa is also politically stable, with the rule of law and additional laws protecting investors.
She went on to say that Shenzhen’s energy investment in South Africa’s power sector would come at an optimal time because it would increase the country’s electricity supply.
She mentioned that Ghana has many South African investments in operation, however, she emphasized that investment between the two countries has historically been one-way, so she is pleased that Ghana is acting as a conduit for Chinese investment into South Africa.
Her Excellency invited Sunon Asogli to attend the 2023 South Africa Investment Conference, which would be held in Johannesburg in mid-April.
Source: https://energynewsafrica.com Ghana: Foreign And Indigenous Oil Firms Warn Of Possible Collapse Of Upstream Petroleum Industry If
Indigenous and foreign oil and gas firms operating in the Republic of Ghana are warning of the possible collapse of the West African nation’s upstream sector due to the proposed Growth and Sustainability Levy.
According to the firms, the proposed Growth and Sustainability Levy, if passed, would cripple the local upstream firms and also trigger disinvestment by the IOCs.
As part of efforts to secure a three billion dollar bailout from the International Monetary Fund (IMF), Ghana is seeking the passage of some revenue bills.
The bills include the Excise Tax Stamp and Excise Duty Amendment, Income Tax amendment and Growth and Sustainability Levy, among others.
However, the move has been criticised by the Ghana Upstream Petroleum Chamber.
“The provision for a 1% tax on gross production for oil and gas companies represents an increase in royalty. There is also a 5% tax on profit before tax that applies to the oil and gas service companies, meaning taxes will be imposed irrespective of the financial performance of the target business.
“Introducing additional taxes at a time when the industry is going through challenging times is rather unfortunate, anti-business and risks the collapse of indigenous oil service companies as well as trigger disinvestment by International Oil Companies,” a statement by the Chamber said.
According to the chamber, the industry considers this levy as the latest in a series of creeping taxation that is affecting the economic balance of petroleum agreements.
Other examples of creeping taxation include the COVID-19 Recovery Levy, Ghana Education Trust Fund Levy, National Insurance Levy and the one per cent Local Content Fund Levy.
The chamber urged the government to pursue a path of reserves and revenue growth through the expedited award of exploration blocks to prospective investors rather than breaching provisions of Petroleum Agreements to raise money from creeping taxation, which could trigger litigation through the international courts.
“This new tax disregards the importance of the preservation of contract sanctity to the promotion of new investment.
“Unpredictability of the fiscal terms of our petroleum agreements will disincentivise new oil and gas investment at a time when financial institutions are curtailing investment in fossil fuels.
“This Growth and Sustainability Levy will damage investments,” commented Joe Mensah, Senior Vice President of Kosmos Energy Ghana, and Chairman of the Upstream Petroleum Chamber.
In his comments on the issue, the CEO of the Upstream Petroleum Chamber, David Ampofo said, “This new tax is an increase in royalties in disguise and imposition that will inhibit further the growth of our service companies.
“The lack of stability and predictability on a matter as important as tax means businesses cannot even be sure what their investment returns are likely to be.
“It is in Ghana’s continued interest to encourage exploration and development of its hydrocarbon reserves by attracting foreign capital, but there are taxation impediments that need addressing, and creeping taxes such as this are an example.
“When creeping taxes and levies become the norm, tax avoidance and disinvestment become inevitable.
“We, therefore, urge the government to reconsider the Bill and send a positive signal to the market.
“Industry is ready to join hands with other affected parties to engage the government on this matter,” the chamber concluded.
Source: https://energynewsafrica.com
Ghana: Replace Worn-Out Cylinder Hoses And Rubber Seals-NPA Urges Consumers
Ghana’s petroleum downstream regulator, National Petroleum Authority (NPA) is urging the public to regularly check the cylinder rubber seals (washers) in the valves and the connecting hoses to see if they are worn out or damaged.
According to the NPA, the public should desist from repairing damaged hoses and rubber seals by themselves.
The Authority implored gas users to rather take the cylinders to nearest LPG dealers for a safety check and replacement of the worn out hoses and seals.
“Additionally, hoses should be secured with proper hose clips.
Consumer Services Manager of NPA, Eunice Budu-Nyarko gave the advise when the NPA team from the Corporate Affairs and Gas Directorates conducted sensitization campaign through one-on-one engagements with traders, market women, drivers, durbars and radio interviews.
She made the call at LPG awareness and sensitization campaign durbars in the Upper West, Savannah, Bono East, Bono and Ahafo regions. “The hoses serve as the gas distribution line between the cylinder and the cooker,” she said.
The LPG awareness and sensitization campaign conducted in collaboration with Lyme Haus Solutions and the Ghana National Fire and Rescue Service (GNFRS) was aimed at creating awareness among consumers on the need to switch from firewood and charcoal to LPG usage.
Mrs Budu Nyarko urged the public to keep liquefied petroleum gas (LPG) cylinders outside the kitchen to prevent explosion and resultant injury, death and property damage.
She said the cylinders should be placed on wooden platforms with roofs to prevent the cylinder foot ring from getting rusted or damaged from direct sunlight, rain and tampering.
For his part, the NPA Communications Manager, Mohammed Abdul-Kudus, who welcomed the people on behalf of the NPA Chief Executive, Dr Mustapha Abdul-Hamid, noted that in Europe and America the people use gas for all their domestic activities, but they barely record accidents.
Therefore, he said, if people observed the LPG safety requirements, they would not experience any accidents.
Mr. Abdul-Kudus stressed that LPG was the most convenient, safe and fast fuel for cooking.
He said medical experts had indicated that heat and smoke from charcoal and firewood posed long term health complications, such as respiratory conditions.
The NPA Communications Manager, therefore, urged the people to switch from wood fuel to LPG to avoid the health challenges associated with the use of charcoal and firewood.
In his presentation in Sunyani, the NPA Bono Regional Manager, Kwadwo Odarno Appiah, cautioned motorists to switch off the engines of their vehicles when buying fuel.
He also asked the public to desist from using mobile phones while at a fuel station to prevent explosions.
A safety officer with the Bono Regional office of the GNFRS, ADOII Emmanuel Kyeremeh, urged the public to keep fire extinguishers in their homes and vehicles to fight fires and also reach out to fire stations for assistance.
Source: https://energynewsafrica.comSaudi Aramco To Build $10 Billion Refinery And Petrochemical Complex In China
Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China over the next three years, taking advantage of the country’s growing demand for energy.
The complex will have a capacity of 300,000 barrels of crude daily, Aramco said in a press release.
Aramco will supply 201,000 barrels per day to the facility.
The project will be carried out in partnership between Aramco and two Chinese companies.
Construction works should begin in the second half of this year, with the project scheduled for completion in 2026.
“This important project will support China’s growing demand across fuel and chemical products. It also represents a major milestone in our ongoing downstream expansion strategy in China and the wider region, which is an increasingly significant driver of global petrochemical demand,” said Aramco’s head of downstream, Mohammed Al Qahtani.
The news follows another report from December last year, that said Aramco had struck a deal with China’s Sinopec to build a 320,000-bpd refinery and petrochemical cracker in China, highlighting the latter’s major role in global oil consumption yet again.
Refining and petrochemical investments have been a priority for Aramco as it seeks to secure long-term demand for its main product, even as it expands local refining capacity as well.
According to the International Energy Agency and other forecasters, a bet on petrochemicals is a good long-term bet in the oil industry amid expectations of a decline in oil demand for transport fuels.
Indeed, the IEA has projected that petrochemicals will account for more than a third in oil demand growth by 2030, rising to 50% of demand by 2050 as transport electrifies.
If the expected global transport electrification does not take place on the expected scale, however, this higher demand for petrochemicals will simply be added to total oil demand, including for transport fuels.
China is the most obvious destination for new petrochemical projects: the country is the world’s largest crude oil importer and one of the top three consumers of the commodity.
Source: Oilprice.com
Ghana: ECG Disconnects Two Indian Steel Firms Over Unpaid Electricity Bills
Ghana’s southern power distribution company, ECG, has disconnected two Indian steel companies from the national grid for owing millions of cedis in electricity bills.
The companies are Fabrimetal and Star Steel Limited, all owned by foreigners.
Fabrimetal owes Gh¢28million in electricity bills while Star Steels Limited owes Gh¢10million.
The power distribution company started a nationwide revenue mobilisation last Monday, March 20, 2023 and the exercise is expected to end on April 20,2023.
The ECG hopes to recover about Gh¢5.7billion owed them by industries in the West African nation.
According to a report filed by Accra based Citi FM, when the task force visited the Star Steel Company, the manager was willing to settle its GH₵10 million debt but pleaded to pay GH₵4 million instantly and GH₵6 million the following day.
The report said the taskforce rejected it and subsequently moved to disconnect the factory from the national grid.
When contacted on phone, Manager of Star Steels Limited denied that the company had been disconnected.
He said the company is still using electricity from the national grid.
Source: https://energynewsafrica.com
Ghana:ECG Recovers Gh¢9.8 Millions From Customers In Volta Region
The Electricity Company of Ghana has recovered over Gh¢9.8 million from customers including state institutions in the Volta Region.
Among the institutions that ECG recovered the monies from are Ho Technical University, Immigration Service, Volta Serene Hotel, Melcom, Sogakokpe Resort and some households.
The ECG on Monday March 20, 2023, commenced a one month nationwide revenue mobilisation exercise to recover about Gh¢5.7 billion owed them by their customers.
The power distribution company has cut power supply to institutions and businesses that failed to settle their electricity bills.
Speaking on Accra-based Citi FM monitored by this portal, Benjamin Antwi, who is the Public Relations Officer for ECG in Volta Region said the customers in the region owe the company about Gh¢220 million.
Out of the figure, he said they have recovered Gh¢9.8million as of Thursday adding that Friday’s figure is not yet available to him.
According to him, the ECG has served notice by way of letters to all customers owing them and appealed to such customers to settle their debts to avoid disconnections.
Source: https://energynewsafrica.com
Ghana: NIB Investigates ECG IT Department Personnel For Cyber Crime
Some staff of the IT Department of the Electricity Company of Ghana (ECG) are being investigated by the National Intelligence Bureau (NIB) for cybercrime about the recent meter glitch that made it impossible for prepaid customers to buy credit.
ECG’s customers in the Volta Region, Takoradi, Tema, Cape Coast, Kasoa, Winneba, Agona Swedru, Koforidua, Nkawkaw and Tafo were unable to buy electricity credit due to an alleged attack on the power producer’s metering system in October last year.
In an interview on Accra-based Asaase Radio on Wednesday, March 22, 2023, the Managing Director of ECG, Samuel Mahama, confirmed the arrest, however, failed to give further details.
“Investigations are still ongoing,” Mahama said, adding: “Some of them were picked up; others were asked to go. So that conversation is for the National Intelligence Bureau (NIB) to deal with.
“And as for our problems of information technology, we have done our best to come a long way. I will say most of them have been fixed.
“We are doing our best to intensify our security— both cyber and physical—so that we can serve the people of Ghana better and make sure we are reliable in giving out the service we promised,” the ECG MD added.
Source: https://energynewsafrica.com
Ghana: Some ‘Big Men’ Want Me To Halt Disconnection Exercise –ECG Boss
The Managing Director of the Electricity Company Ghana (ECG), Samuel Dubik Mahama says he has received calls from friends and politicians to halt the ongoing nationwide revenue mobilisation exercise aimed to recover about Ghc 5.7 billion from consumers.
He disclosed this while speaking on Accra-based Joy News on Tuesday, March 21, 2023.
The power distribution company is saddled with huge debt, with that of Independent Power Producers alone amounting to the tune of $1.4 billion.
Given this, Mr Mahama says a halt in the exercise could be dire for ECG.
“How do we pay the Independent Power Producers? How do we pay GRIDCo? How do we pay VRA? It is a shared responsibility.
“Please let’s just do the right thing because I don’t even have the moral right after sending somebody out of the office to pick up the phone and call him and say ‘hello, can you cut X, Y and Z slack? No. Then, what is the moral of the exercise?”’ he rhetorised.
The ECG started the nationwide revenue mobilisation exercise on Monday, March 20 and hopes to end on April 20, 2023.
Source: https://energynewsafrica.com