The Institute for Energy Security (IES) has called on government to come clear on the 600,000 barrels of Russian crude oil aboard MT Theseus which arrived in the West African nation few days ago.
According to the energy think tank, government must also let Ghanaians know why it failed to block the vessel as suggested by the boss of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, a few days before the arrival of the cargo.
A statement issued on Monday, IES said it has taken note of a roughly 600,000 barrels crude oil consignment that arrived at the Tema port on Friday, February 26, 2023, aboard the vessel MT Theseus, which Bloomberg reports as “Russian Oil to be stashed in Ghana as a pool of buyers shrinks”.
“Documents intercepted by the IES suggest that Platon Gas Oil Ghana Limited is the importer, and has requested a crude oil storage space of approximately 80,000 metric tonnes (MT), equivalent to 600,000 barrels from the Tema Oil Refinery (TOR), after nominating the facility as the discharge destination”, it explained.
“The IES can confirm that the vessel in question is presently at the Tema port anchorage and has issued notice of readiness (NOR) to the importer, awaiting to berth at either the Single Point Mooring (SPM) system or the Tema Oil Jetty for onward discharge into the storage tank(s).
“The Institute can also confirm that samples of the crude have been taken for laboratory testing by nominated Inspectors and Agents, with the support of staff at the TOR facility”, it mentioned.
It added that “the IES can also confirm that the vessel is free from any interception and is only awaiting clearance from the National Petroleum Authority (NPA) to berth and start discharge into TOR’s crude oil tanks”.
The energy think tanks said it finds as troubling given that a few days ago, the NPA – the regulator of the downstream petroleum sector – had given a strong indication that should the MT. Theseus crude oil vessels in question enter Ghana waters which will cause the interception of the cargo.
However, instead, it pointed out that the vessel MT. Theseus sits free, receiving the cooperation of state actors, and is likely to discharge into a national oil facility.
“More troubling is the fact that Platon Gas Oil Ghana Ltd processing and distribution capacity is very small, for a size of 80,000 MT crude cargo. The IES finds that between January and December 2022, Platon could the process and distribute just 2,849 MT of Residual Fuel Oil (RFO) and Gasoil, representing just 3.6% of the crude oil consignment under discussion. This raises eyebrows, and the IES is tempted to think that the named receiver of the crude cargo Platon Gas Oil Ltd. is only a frontal”, it added.
Ghanaians can recollect that in late December 2022 the Deputy Minister of Energy Andrew Egyapa Mercer gave another assurance that the Tema Oil Refinery will commence full operation by the end of February 2023.
The IES asked “could this crude cargo aboard MT. Theseus be the first parcel of crude for TOR to start full operation, after two years of shutdown? Could this crude oil consignment be an extension of government’s Gold for Oil Programme?”.
Source: https://energynewsafrica.com
Ghana’s leading indigenous Oil Marketing Company (OMC), GOIL PLC, has announced reductions in both gasoline and gasoil at the pump effective Wednesday, March 1, 2023.
According to a release by Robert Kyere, Public Relations Manager at GOIL PLC a litre of petrol and diesel is selling at GH¢13.80.
During the last pricing window which ended on Tuesday, February 28, 2023, GOIL sold petrol at Gh¢14.50 per litre while diesel was sold at Gh¢14.90 per litre.
Per today’s announcement, petrol price has been reduced by 70 pesewas while diesel saw a reduction of Gh¢1.1.
Other oil marketing companies are likely to adjust their pump prices later today or Thursday.
Crude oil prices have been hovering around US$83 per barrel.
Last week, BOST took delivery of two cargoes of petrol and diesel under the government’s ‘Gold for oil’ programme.
Source: https://energynewsafrica.com
Residents of the Upper East and North East Regions in the Republic of Ghana have expressed dissatisfaction about the lack of gas refilling stations in the areas.
While those who are using the domestic commodity are struggling to access it, others are compelled to use firewood or charcoal.
The residents, including traders, market women and drivers, said they are compelled to transport their cylinders to neighbouring towns with gas refilling stations for a refill.
Speaking at separate engagements with officials of the National Petroleum Authority (NPA), Ghana’s petroleum downstream regulator during
LPG awareness and sensitization campaign, the residents said using their private or commercial vehicles to distant towns to refill their cylinders added to the cost of buying liquified petroleum gas (LPG).
For instance, there is no gas refilling station at Sandema and surrounding communities, so the people have to transport their cylinders to Bolgatanga, Navrongo or Paga for a refill.
The residents, therefore, appealed to the government to push for the siting of more gas refilling stations in the North East and Upper East regions to ensure the availability and accessibility of LPG in the areas.
They also called on the government to reduce the prices of LPG to make it more affordable.
The NPA team from the Corporate Affairs Directorate and the Gas Directorate conducted the sensitisation campaign through one-on-one engagements with traders, market women, drivers, durbars and radio interviews.
Areas visited in the Upper East Region included Bolgatanga, Navrongo, Paga, Sandema and Fumbisi. It also had engagements at Walewale in the North East Region.
The LPG awareness and sensitisation campaign, being conducted in collaboration with Lyme Haus Solutions, aims at creating awareness among consumers on the need to switch from firewood and charcoal to LPG usage.
Speaking at an LPG sensitisation durbar in Bolgatanga on Thursday, the Consumer Services Manager of the National Petroleum Authority (NPA), Mrs Eunice Budu Nyarko cautioned the people against keeping cylinders indoors while cooking, educating them that cylinders are supposed to be replaced after 10 years.
She stressed the need for people to avoid placing empty or filled cylinders near naked fire or inflammable liquid.
Mrs Nyarko asked the people to replace cylinder hoses every two years for domestic use and six months for commercial and ensure that valves are well-fitted to avoid leakage and explosion.
She again asked the people to allow for about one hour for gas in filled cylinders to settle down before usage.
The Consumers Services Manager advised drivers to keep cylinders in vertical positions in the booths of vehicles to avoid explosions.
Taking his turn, the Upper East Regional Fire Officer, ADOI Akobanyan Bright stressed the need for users of LPG to ensure adequate ventilation for cylinders, light the match before turning on the gas and keep regulators in the off position when the cylinder is not in use.
For his part, the NPA Communications Manager, Mr. Mohammed Abdul-Kudus, who welcomed the people on behalf of the NPA Chief Executive, Dr Mustapha Abdul-Hamid, asked the people to observe gas-related safety tips to avoid explosions and resultant injuries and loss of lives.
Source: https://energynewsafrica.com
Ghana’s technical electricity regulator, Energy Commission, last Friday, climaxed its 25th-anniversary celebrations with a Thanksgiving Service at the Ghana Police Service Church in Accra, the capital of Ghana.
The Thanksgiving Service was attended by several staff of the Commission, Some Board Members, Dr. Kwame Ampofo and Prof. George Panyin Hagan (Both Past Board Chairmen of the Commission) Dr. Alfred Ofosu Ahenkora, former Executive Secretary of the Commission, Mrs. Wilhelmina Asamoah, Chief Director of the Ministry of Energy, Engr. Kokou Laurent Tossou, Chairman of Ecowas Regional Electricity Regulatory Authority (ERERA), Wisdom Ahiataku-Togo, Director for Renewable Energy at BPA, Communications Manager of BPA, Madam Akua Sakyi, Dr Ishmael Ackah, Executive Secretary of PURC and some industry players.
The Energy Commission was set up by an Act of Parliament, the Energy Commission Act, 1997 (Act 541) with functions relating to the regulation, management, development and utilisation of energy resources in Ghana.
Delivering a speech, the Executive Secretary of the Commission, Ing Amonoo-Neizer, commended both current and past Board Chairmen, past Executive Secretaries and staff of the Commission for their commitment which has brought success to the commission.
Rev. Oscar Amonoo-Neizer, Executive Secretary of Energy Commission
Highlighting some key milestones chalked by the Commission over the years, Rev. Ing. Amonoo-Neizer mentioned the transition nationwide from incandescent light bulbs to CFLs with the distribution of six million CFLs as a load reduction measure to reduce the impact of power shortages in 2007, making Ghana the first country in Africa to introduce such an intervention; the Refrigerator Exchange Programme which encouraged the surrendering of used, old refrigerators in exchange for a discount on new ones; and the passage of the Renewable Energy Act, 2011 (Act 832) which gave the Commission the mandate to establish and regulate a renewable energy market in Ghana.
He continued with the electrification of 200 households in 18 off-grid rural communities in the East and South Kwahu Districts in the Eastern Region with solar home systems under the National Rooftop Solar Programme; the development of the Integrated Power Sector Management Plan (IPSMP) for the power sector to ensure a resilient power system to reliably meet Ghana’s growing power demand cost-effectively; the establishment of the Electricity Market Oversight Panel (EMOP) and the publication of Ghana Wholesale Electricity Market Bulletin; the development of a Renewable Energy Master Plan (REMP) to chart a road map for the sustainable utilization of renewable energy resources technologies, Established the Local Content and Local Participation framework which is being implemented.
He went on to mention the certification of 14,000 professional electricians nationwide as of today under the framework of the Electrical Wiring Regulations which has streamlined and standardised the wiring of household and commercial facilities.
He again mentioned the development and causing the enactment of over 40 Regulations for both the electricity and natural gas industries.
The Commission achieved over 97 per cent compliance in the refrigerator and air condition space with meeting the minimum efficiency standards,
Additionally, the commission initiated the Drive Electric Initiative Programme to promote the use of electric vehicles in Ghana, leading to the setting up and operation of charging stations in the country.
It established the Energy Symposium and Renewable Energy Fair as a collaborative platform to promote sustainable businesses, network and share ideas and research discoveries, established the Energy Commission’s Senior High School Renewable Energy Challenge (SHSREC) as a tool to encourage and reward innovation among students in second cycle institutions, in the area of renewable energy, clean energy, and energy efficiency.
In a sermon, Bishop Ebenezer Obodai, Executive & Resident Pastor of Action Chapel International, quoted Hebrews 6:10, Deuteronomy 8:1-10, and Psalm 124:1,8 to underscore the need for Thanksgiving.
He encouraged the Commission to never forget where it started and where they are currently.
“Gratitude will qualify you for more,” he said.
Source: https://energynewsafrica.com
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc has appealed to the public to refrain from engaging in such acts of violence against its employees and facilities.
A statement signed by the Managing Director of the company, Engr Kinsley Achife said electricity distribution companies provide an essential service which is critical to the daily lives of citizens.
The attack on these offices not only causes damage to the property but also disrupts the provision of electricity, which affects the livelihoods of many and throws communities into darkness.
“We understand that these are trying times for us all, but attacking staff who are also Nigerians and destroying electrical installations will further exacerbate the challenges. We, therefore, urge the public to maintain law and order and refrain from engaging in any form of assault against electricity workers who are primarily there to support you, your homes and businesses.”
The Managing Director also assured customers that IBEDC is committed to providing quality services and improving its infrastructure and operations.
He explained that the company had strengthened its non-cash-based payment channels to reduce customer pressure.
“We are also open to feedback and suggestions from the public and will work to address any issues raised speedily” he further said.
Source: https://energynewsafrica.com
South Africa’s power utility company, Eskom, has appointed Calib Cassim as the interim CEO of the struggling company after relieving André De Ruyter with immediate effect on Wednesday.
Calib Cassim was Eskom’s Chief Financial Officer (CFO) until his new appointment on Friday.
The utility service said it was pleased to announce that Cassim would take the reigns with immediate effect.
Cassim would lead the Eskom management team until further notice, the utility service said.
Cassim was first appointed as Eskom’s CFO in November 2018 after serving as the acting CFO from July 2017.
He is a registered chartered accountant and holds a Master’s Degree in Business Leadership.
“With over 20 years of service in Eskom, his qualifications and extensive experience have provided Mr. Cassim with a deep understanding and appreciation of the Eskom business and the electricity industry, especially regarding the challenges facing the financing of operations and future expansion of the industry,” Eskom said.
Eskom thanked Cassim’s family for permitting him to assume the additional responsibilities and said it was grateful that he was stepping up to group CEO.
Eskom announced the immediate termination of De Ruyter as CEO in a late-night statement on Wednesday, 22nd February 2023.
“Following the convening of a special board meeting on 22nd February 2023, the Eskom Board and Group Chief Executive, André de Ruyter, reached a mutual agreement to curtail his notice period to 28 February 2023,” the utility service said.
“The board further resolved that Mr de Ruyter will not be required to serve the balance of his notice period but that he will be released from his position with immediate effect.”
De Ruyter already announced his resignation in December 2022 but had agreed to stay on until the end of March 2023.
The statement from Eskom did not provide any reasons for De Ruyter’s early release from the role.
However, it came a day after an exclusive interview with De Ruyter on E-tv’s ‘My Guest Tonight’ with Annika Larsen, in which he made serious allegations about the involvement of politicians in crimes that damaged Eskom financially and operationally.
De Ruyter alleged that high-level members of the ANC, including a senior minister in the government, were complicit in criminal activities such as the Mpumalanga coal theft cartels and sabotage of power stations.
The former CEO also said he was leaving the country for a while to ensure his safety following the revelations.
This was after he was asked if he was concerned that he might be murdered for speaking out.
“I think that will be good for my health,” the former Eskom CEO said.
Source: https://energynewsafrica.com
President Akufo-Addo has appointed Madam Genevieve Sackey as the Managing Director of state-owned Ghana Cylinder Manufacturing Company Limited (GCMCL).
Her appointment follows the resignation of Madam Frances Essiam.
A letter signed by Nana Bediatuo Asante, Secretary to the President, gave the announcement and copied the Minister for Energy, Dr Matthew Opoku Prempeh, and urged the Minister to regularise the appointment by the relevant provisions of the Companies Act,2019(Act 992) and the regulations of the company.
Source: https://energynewsafrica.com
The Chief Executive Officer of Ghana Cylinder Manufacturing Company, Madam Frances Awurabena Essiam, has resigned with immediate effect, energynewsafrica.com can confirm.
A source close to Frances Essiam told this portal that Madam Frances Essiam resigned from her post because of the actions of the Minister for Energy, Dr Matthew Opoku Prempeh.
The source said GCMCL signed an agreement with Ghana Gas Company and that has become a bone of contention between the CEO and Dr Matthew Opoku Prempeh who wanted Genser Energy to establish a new gas processing plant instead of the state-owned Ghana National Gas Processing Company.
The interference by the Minister, according to sources, is making the work of Madam Frances Essiam very difficult.
Frances Essiam was appointed by President Akufo-Addo in 2017.
Italy’s Eni (NYSE: E) reported on Thursday its highest annual net profit in over a decade, joining other international oil majors in reporting high or record earnings for 2022 on the back of soaring oil and gas prices.
Eni’s adjusted net profit surged to $14.1 billion (13.3 billion euros) for 2022, up by $9.5 billion (9 billion euros) compared to 2021, due to a strong operating performance and higher results of equity-accounted entities, the Italian company said today.
However, the slide in prices in the fourth quarter resulted in fourth-quarter earnings slowing from the previous quarter and in line with analyst forecasts, although they were nearly 50% higher than in Q4 2021.
The slowdown in exploration and production in the fourth quarter sent Eni’s shares dipping by 3.6% in Milan mid-day and down by 4% in pre-market trade in New York.
Commenting on Eni’s gas deals last year, chief executive officer Claudio Descalzi said, “During the year, we were able to finalize agreements and activities to fully replace Russian gas by 2025, leveraging our strong relationships with producing states and fast-track development approach to ramp-up volumes from Algeria, Egypt, Mozambique, Congo and Qatar.”
Despite a weaker performance for the fourth quarter, Eni joins the other international majors in reporting bumper annual profits for 2022.
Each of the world’s biggest oil and gas majors reported record profits for 2022 earlier this month, doubling their combined net earnings from 2021 and booking the best-ever year for Big Oil.
Combined, the net profits of Exxon, Chevron, BP, Shell, Equinor, and TotalEnergies surged to $219 billion for 2022, up from around $100 billion booked for 2021, as oil and gas prices surged following the Russian invasion of Ukraine and the majors raised oil and gas production to meet growing demand for oil and limited gas supply from Russia to Europe.
Source :Oilprice.com
The search and rescue efforts in a collapsed coal mine in north China’s Inner Mongolia Autonomous Region resumed after a halt caused by a massive landslide at the rescue site.
So far, four people have been confirmed dead, and 49 others remained missing.
Rescuers have brought out 10 people from the debris, including the deaths and six injured ones.
Those still alive were immediately sent to the hospital, according to the rescue headquarters.
Source:Xinhua
The Chief Executive Officer (CEO) of Ghana Grid Company (GRIDCo), Ing Ebenezer Kofi Essienyi and some top officials of the company have paid a working visit to the Management of the Ghana National Fire Service (GNFS) to foster collaboration between the two state institutions.
In a post on Facebook sighted by energynewsafrica.com, it said key among the issues discussed was the need for the GNFS to help prevent fires at GRIDCo’s substations and other power distribution infrastructures nationwide.
Ghana recently experienced a nationwide power outage as a result of a raging bushfire that touched GRIDCo’s high-voltage lines near Tarkwa in the Western Region.
The timely arrival of the fire tender from the Tarkwa Goldfields prevented the destruction of GRIDCo’s power installation in the area.
According to the post, Ing Ebenezer Kofi Essienyi thanked the Service for the audience and reception offered to him and his team.
The CEO’s entourage also included Ing Bernard Kwabena Asante Gyan, Director-Technical Services; Mr Samuel Kow Acquah, Manager of Strategy Risk and Compliance, and Ing Wofa Kojo Kwarteng, Special Assistant to the Chief Executive.
Present at the meeting on behalf of the Service were ACFO II George Wiafe, Deputy Director – Fire Safety Education; DO1 David Sam Afful, Assistant Director of Investigations; DO1 Michael Ato Korsah, Deputy Director-Fire Certification; DO II Ernest Ampene of Investigation Directorate; DO III Husbert Atobra Nyame-Boame of the Safety Directorate and DO III Ackah Desmond, Deputy National Public Relations Officer.
Source: https://energynewsafrica.com
South Africa’s power utility company, Eskom has announced that CEO André de Ruyter will leave the company with immediate effect.
This was contained in a statement released by the state-owned enterprise on Wednesday, 22 February 2023.
“Following the convening of a special board meeting on 22 February 2023, the Eskom Board and Group Chief Executive André de Ruyter have reached a mutual agreement to curtail his notice period to 28 February 2023,” it said.
“The board further resolved that Mr de Ruyter will not be required to serve the balance of his notice period but that he will be released from his position with immediate effect.”
Eskom said arrangements to appoint an acting group chief executive are being finalised and will be communicated in the near future.
De Ruyter was initially set to serve a notice period ending on 31 March 2023.
Source: https://energynewsafrica.com
The consumption of petroleum products declined significantly in the Republic of Ghana in 2022 as compared to the 2021 consumption, energynewsafrica.com can report.
According to data sourced from the National Petroleum Authority (NPA), petrol consumption declined by 154,314,742 litres in 2022 while diesel consumption declined by 153,278,300 litres.
Kerosene consumption declined by 741,000 litres while premix fuel consumption fell by 64,516,500 litres.
The data showed that Residual Fuel Oil consumption went down by 26,857,700 while Heavy Fuel Oil consumption declined by 84,346,397 litres.
However, the consumption of AGO (diesel for mines) increased by 13,112,600 in 2022.
In 2021, petrol consumption was 2,226,994,900 litres while consumption in 2022 was 2,112,680,158 litres.
In the same year, diesel consumption was 2,074,134,000 litres while consumption in 2022 was 1,920,855,700 litres.
Kerosene consumption in 2021 was recorded at 5,688,000 litres while consumption in 2022 was 4,947,000 litres.
Premix consumption in 2021 stood at 104,098,500 litres while consumption in 2022 was pegged at 39,582,000 litres.
Fuel prices shot up astronomically in 2022 with diesel sold at Gh¢23.89 per litre while petrol sold at Gh¢18 per litre in October.
The high cost of fuel in 2022 forced many private car owners to park their cars and patronised public transport.
.
Source: https://energynewsafrica.com
The Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has said the NPA in consultation with the Association of Oil Marketing Companies (AOMCs) has come up with a criteria for the distribution of the next consignment of petroleum products that has been imported under the Gold for Oil (G4O) programme.
According to him, this is to ensure that the impact of the G4O programme is felt by consumers across the country, while addressing the concerns of the AOMCs regarding a lack of clarity regarding the allocation of products supplied under the programme to its members.
The criteria takes into consideration the top 25 OMCs who distributed petrol and diesel in 2022 with not less than 45 retail outlets across the country.
He touted the implementation of the G4O as it has slightly lowered prices of petroleum products and reduced forex risk.
Speaking at the meet-the-press in Accra on Wednesday, the NPA Boss said the country had received three cargoes so far, comprising 41,000 metric tonnes (MT) of diesel in January, and another 40,000MT of diesel and 35,000MT of petrol which have just arrived and being discharged.
He stressed that “better results are expected as more G4O cargoes arrive.”
The meet-the-press under the auspices of the Ministry of Information that featured the NPA, focused on developments in the downstream petroleum industry on the theme: “Petroleum Downstream: Retrospect and Prospect.”
Tracing the situation before the implementation of the G4O programme, Dr Abdul-Hamid said average monthly petroleum product import bill ranged from $350 million to $400 million.
He said the petroleum downstream dollar demand accounted for 20 percent of national demand.
The NPA Boss noted that Bank of Ghana (BoG) commenced a special exchange rate auction programme for the petroleum downstream in April 2022, and indicated that the special auction programme could not meet 100 percent of forex demand in the country.
“Inadequacy of BoG supply pushes BIDECs to speculate forex rates arbitrarily based on proposed rates from commercial banks”, he said, and explained that the gold payment was mooted as a solution to the pressure that petroleum downstream put on the cedi.
Dr. Abdul-Hamid said the NPA regulates G40 products prices on the interim (Ex-ref price and Ex-pump prices).
He stated that the Authority had intensified price monitoring activities with penalties for defaulting service providers.
Touching on activities undertaken to ensure product quality and integrity, the NPA Boss mentioned the supply of low sulphur fuels (cleaner fuels), a maximum of 50ppm for imports and a maximum of 1500ppm for domestic production.
The NPA also undertakes periodic petroleum product monitoring exercises, conducts fuel marker monitoring and quality monitoring of fuel standards (Quality Control) including checking of water in fuel and collaborates with security agencies to prevent illegal imports, exports and product dumping.
Dr. Abdul-Hamid said the Authority used technology (Electronic Cargo Tracking System (ECTS), National Fuel Monitoring System (NFMS) and the Automatic Tank Gauge system) to ensure intended delivery of petroleum products along the petroleum downstream value chain.
He mentioned the revocation of licenses and publication of the names of defaulting Petroleum Service Providers (PSPs) and Laycans allocation and monitoring to ensure adequate supply as some of the activities undertaken to ensure order in the downstream petroleum industry.
Source: https://energynewsafrica.com
He went on to mention the certification of 14,000 professional electricians nationwide as of today under the framework of the Electrical Wiring Regulations which has streamlined and standardised the wiring of household and commercial facilities.
He again mentioned the development and causing the enactment of over 40 Regulations for both the electricity and natural gas industries.
The Commission achieved over 97 per cent compliance in the refrigerator and air condition space with meeting the minimum efficiency standards,
Additionally, the commission initiated the Drive Electric Initiative Programme to promote the use of electric vehicles in Ghana, leading to the setting up and operation of charging stations in the country.
It established the Energy Symposium and Renewable Energy Fair as a collaborative platform to promote sustainable businesses, network and share ideas and research discoveries, established the Energy Commission’s Senior High School Renewable Energy Challenge (SHSREC) as a tool to encourage and reward innovation among students in second cycle institutions, in the area of renewable energy, clean energy, and energy efficiency.
In a sermon, Bishop Ebenezer Obodai, Executive & Resident Pastor of Action Chapel International, quoted Hebrews 6:10, Deuteronomy 8:1-10, and Psalm 124:1,8 to underscore the need for Thanksgiving.
He encouraged the Commission to never forget where it started and where they are currently.
“Gratitude will qualify you for more,” he said.
Source: https://energynewsafrica.com 
Source: https://energynewsafrica.com 
Ghana recently experienced a nationwide power outage as a result of a raging bushfire that touched GRIDCo’s high-voltage lines near Tarkwa in the Western Region.
The timely arrival of the fire tender from the Tarkwa Goldfields prevented the destruction of GRIDCo’s power installation in the area.
According to the post, Ing Ebenezer Kofi Essienyi thanked the Service for the audience and reception offered to him and his team.
The CEO’s entourage also included Ing Bernard Kwabena Asante Gyan, Director-Technical Services; Mr Samuel Kow Acquah, Manager of Strategy Risk and Compliance, and Ing Wofa Kojo Kwarteng, Special Assistant to the Chief Executive.
Present at the meeting on behalf of the Service were ACFO II George Wiafe, Deputy Director – Fire Safety Education; DO1 David Sam Afful, Assistant Director of Investigations; DO1 Michael Ato Korsah, Deputy Director-Fire Certification; DO II Ernest Ampene of Investigation Directorate; DO III Husbert Atobra Nyame-Boame of the Safety Directorate and DO III Ackah Desmond, Deputy National Public Relations Officer.
Source: https://energynewsafrica.com 
He touted the implementation of the G4O as it has slightly lowered prices of petroleum products and reduced forex risk.
Speaking at the meet-the-press in Accra on Wednesday, the NPA Boss said the country had received three cargoes so far, comprising 41,000 metric tonnes (MT) of diesel in January, and another 40,000MT of diesel and 35,000MT of petrol which have just arrived and being discharged.
He stressed that “better results are expected as more G4O cargoes arrive.”
The meet-the-press under the auspices of the Ministry of Information that featured the NPA, focused on developments in the downstream petroleum industry on the theme: “Petroleum Downstream: Retrospect and Prospect.”
Tracing the situation before the implementation of the G4O programme, Dr Abdul-Hamid said average monthly petroleum product import bill ranged from $350 million to $400 million.
He said the petroleum downstream dollar demand accounted for 20 percent of national demand.
The NPA Boss noted that Bank of Ghana (BoG) commenced a special exchange rate auction programme for the petroleum downstream in April 2022, and indicated that the special auction programme could not meet 100 percent of forex demand in the country.
“Inadequacy of BoG supply pushes BIDECs to speculate forex rates arbitrarily based on proposed rates from commercial banks”, he said, and explained that the gold payment was mooted as a solution to the pressure that petroleum downstream put on the cedi.
Dr. Abdul-Hamid said the NPA regulates G40 products prices on the interim (Ex-ref price and Ex-pump prices).
He stated that the Authority had intensified price monitoring activities with penalties for defaulting service providers.
Touching on activities undertaken to ensure product quality and integrity, the NPA Boss mentioned the supply of low sulphur fuels (cleaner fuels), a maximum of 50ppm for imports and a maximum of 1500ppm for domestic production.
The NPA also undertakes periodic petroleum product monitoring exercises, conducts fuel marker monitoring and quality monitoring of fuel standards (Quality Control) including checking of water in fuel and collaborates with security agencies to prevent illegal imports, exports and product dumping.
Dr. Abdul-Hamid said the Authority used technology (Electronic Cargo Tracking System (ECTS), National Fuel Monitoring System (NFMS) and the Automatic Tank Gauge system) to ensure intended delivery of petroleum products along the petroleum downstream value chain.
He mentioned the revocation of licenses and publication of the names of defaulting Petroleum Service Providers (PSPs) and Laycans allocation and monitoring to ensure adequate supply as some of the activities undertaken to ensure order in the downstream petroleum industry.
Source: https://energynewsafrica.com