The Rockefeller Foundation and the International Finance Corporation (IFC) have signed an agreement to promote clean energy in emerging markets.
The Rockefeller Foundation plans to contribute about $150 million to de-risk about $2bn of investment mobilised from the private sector via the IFC.
This fund also includes an initial rapid deployment phase of $30m.
Both organisations have signed a ten-year partnership set to be implemented across seven sub-Saharan countries: Senegal, Rwanda, Nigeria, Sierra Leone, Ethiopia, Malawi and Uganda.
These countries possess the conducive enabling environment vital for developing access to energy, according to both organisations.
“The countries that have expressed interest have put in place policies that may not be perfect, but that are moving in the right direction,” Joseph Nganga, executive director of energy and climate for Africa at the Rockefeller Foundation, noted.
This partnership with the IFC forms part of a larger project to establish a $1bn platform alongside the IKEA Foundation to fund climate action and increase energy access.
The initiative, which is set to be launched at COP26 (in November in Glasgow), aims to prevent 1bn tonnes of greenhouse gas emissions and provide clean energy access to 1 billion people globally.
Residents of Ibadan in South-Western Nigeria will this morning Monday, August 2, 2021, hit the streets and later occupy the premises of Ibadan Electricity Distribution Company in protest against poor services being rendered by the company.
This is a follow up of Sunday’s street protest which saw hundreds of residents in attendance.
Ibadan has a total population of 3.6 million out of the over 211 million population of entire Nigeria.
The residents accused IBEDC of exploitation.
The protesters also sensitised the residents on what they described as injustice done by the electricity distribution company in some parts of the Oyo State capital.
Nigeria’s power sector has been struggling leading to widespread power cuts.
Last Wednesday, the country’s transmission system collapsed, resulting in nationwide black out.
In a post sighted by energynewsafrica.com on Instagram, the organisers of the protest, which bear the name revoltnow_ng, said the protest will last for two days.
The organisers are demanding that IBEDC bring back light, reduce electricity tariff among others.
The Bulk Oil Storage and Transportation Company (BOST) has refuted claims by the Ghana National Tanker Drivers’ Union that the strategic oil stock company does not have fuel in stock for almost about a year, thus rendering scores of drivers jobless.
According to a report carried by the Ghana News Agency, the tanker drivers, in a petition signed by its National Chairman, George Nyaunu and copied to President Akufo-Addo and Energy Minister, noted that they had tried to meet management of BOST and other stakeholders to resolve the problems but all efforts have proven futile.
“The painful truth is that majority of our members have been rendered jobless for almost between seven months to one year now due to the downward trends of BOST’s operations at its depots.
“As stakeholders, they were aware that BOST had not been able to stock fuel at its prime depot due to the inability of management to make economically viable, reasonable and sustainable financial arrangements to procure products for our continuous operations,” he explained.
The company, however, in a statement rejected the assertions, saying they are unfounded.
BOST said it is not experiencing fuel shortage as being purported, but rather a maximisation of the company’s resources which has led to lower reliance on tanker drivers to transport fuel on behalf of the company.
According to BOST, tanker drivers were heavily relied upon for the transmission of fuel when two pipelines responsible for transporting fuel from Tema to Akosombo and Buipe to Bolgatanga were in disrepair and non-functional.
The statement said BOST had also grounded all four of its river barges responsible for fuel transportation on the Volta Lake.
“Efficient resource utilisation and focused management have resulted in a full repair of all four river barges that were grounded and the two pipelines which had been out of use for close to five years.
“As a result, the barges are in full use, and the Buipe-Bolgatanga petroleum product pipeline is fully used. In addition, the Tema- Akosombo product pipeline is expected to be in use by close of the third quarter,” BOST explained in the statement.
It added that “one river barge voyage from Akosombo to Buipe takes a total of about 5,300,000 litres of product. With a maximum capacity of 54,000 litres per truck (tanker or BRV as indicated earlier), one barge trip is the equivalent of (5,300,000/54,000) = 98 trucks, with the barges making close to 10 turns in a month, (98*10) = 980 truckloads are saved.”
Thus, more fuel volumes are transported through the barges to the Northern depot in Buipe and further pushed through the repaired pipeline to Bolgatanga to landlocked countries and the surrounding Northern regions.
“For a faster and quicker movement of volumes to meet the increasing export demand, the barge/pipeline formula is more efficient and will, therefore, affect the volume that gets transferred through the use of the Road Trucks (BRVs or Tankers),” BOST explained.
BOST, thus, called on the general public to disregard the allegations and treat them with the contempt it deserves and trust BOST to live up to the bidding for Ghana,” it added.
It further assured the public that the company is being run by capable hands “and things are really getting better: our asset utilisation has improved from a paltry 15 percent to 85 percent (including the pipelines and barges) within two years and we are seeking to bring every single asset which has been lying idle over the last couple of years into operation to maximise value for the 30 million Ghanaians.
“BOST is in a good state and is poised to deliver on its mandate to benefit the government and people of Ghana,” it concluded.
In a related development, Chairman of the Bulk Tanker Drivers’ Union, Clement K. Ampadu has described claims by the Ghana National Tanker Drivers Union as false.
According to him, his union members have been loading fuel from the BOST depot at the Accra Plains, popularly known as APD, everyday and wondered why their counterpart are making those false claims.
“For me, I haven’t seen that there isn’t fuel. There is fuel and our drivers have been loading. Even last Thursday and Friday, they loaded so if someone is saying that there isn’t fuel…then how come the drivers loaded?” he wondered.
“I know there is fuel …maybe they have problem with the way the allocation is done. But if they say there is no fuel, I disagree with them,” Mr Ampadu stated.
Source: https://energynewsafrica.com
Nigeria’s power transmission company, TCN, has confirmed the restoration of the national grid which collapsed on Wednesday.
The company said that the collapse, which occurred at about 12:20 p.m., was restored the same day at 4:59 p.m.
TCN’s General Manager, Public Affairs Manager, Mrs Ndidi Mbah said this in a statement in Abuja on Thursday.
Mrs Mbah said that the collapse was triggered by a sudden drop in system frequency to 47.21Hz.
The development resulted in nationwide blackout.
According to Ndidi Mba, reports TCN received from Supervisory Control and Data Acquisition (SCADA) and other power generating stations showed that at about 12:20 p.m, two generating units tripped in one generating station.
“While four equally tripped in another generating station, causing a loss of 261MW and 350MW respectively, bringing the total loss of electricity on the grid to 611MW.
“It is suspected that the sudden loss of 611MW from the grid caused system instability and its eventual collapse.
“After the collapse, TCN’s system operators immediately commenced the restoration of the grid and by 12:46 p.m, power supply in Abuja was fully restored from Shiroro Generating Station at 1:05p.m.
“TCN equally commenced grid restoration from the Delta Power Station, and at 4:59p.m, a full restoration of the entire grid was achieved,” she said.
Mrs Mbah appreciated the government, electricity customers nationwide and international customers for their patience.
She said that TCN would continue to work hard to expand and maintain the stability of the national grid.
Source: https://energynewsafrica.com
U.S. oil majors ExxonMobil and Chevron both returned to profit in the second quarter of the year driven by higher oil and gas prices.
ExxonMobil on Friday announced estimated second-quarter 2021 earnings of $4.7 billion compared with a loss of $1.1 billion in the second quarter of 2020, driven by oil and natural gas demand and best-ever quarterly chemical and lubricants contributions.
The oil major also more than doubled its revenues from $32.6 billion in 2Q 2020 to $67.7 billion in 2Q 2021.
The company’s second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021 to $6.9 billion, which is consistent with planned lower activity in the first half of the year.
The company anticipates higher second-half planned spending on key projects, including Guyana, Brazil, Permian, and in Chemical sector, with full-year spending towards the lower end of the guidance range of $16 billion to $19 billion.
Oil-equivalent production in the second quarter was 3.6 million barrels per day, down 2 per cent from the second quarter of 2020, driven by increased maintenance activity.
Average realizations for crude oil increased 13 per cent from the first quarter while the natural gas realizations increased 1 per cent from the prior quarter.
“Positive momentum continued during the second quarter across all of our businesses as the global economic recovery increased demand for our products”, said Darren Woods, Chairman and Chief Executive Officer.
In addition to reducing structural costs by $3 billion in 2020, the company captured over $1 billion in further structural savings in the first half of 2021. ExxonMobil noted it remains on pace to achieve through 2023 total structural cost reductions of $6 billion relative to 2019.
Chevron Earns $3.1 Billion
Chevron has also seen a significant improvement in its quarterly performance as the company on Friday reported earnings of $3.1 billion for 2Q 2021, compared with a loss of $8.3 billion in 2Q 2020.
Sales and other operating revenues in the second quarter of 2021 were $36 billion, compared to $16 billion in the year-ago period.
“Second-quarter earnings were strong, reflecting improved market conditions, combined with transformation benefits and merger synergies”, said Mike Wirth, Chevron’s Chairman and Chief Executive Officer.
“Our free cash flow was the highest in two years due to solid operational and financial performance and lower capital spending,” Wirth added.
“We will resume share repurchases in the third quarter at an expected rate of $2-3 billion per year”.
Chevron continued to exercise capital discipline with year-to-date capital spending down 32 per cent from a year ago. The company recently sanctioned the Jansz-lo Compression project in Australia, which is expected to maintain an important source of clean-burning natural gas.
The company’s worldwide net oil-equivalent production was 3.13 million barrels per day in the second quarter of 2021, an increase of 5 per cent from a year ago.
U.S. upstream operations earned $1.4 billion in 2Q 2021, compared with a loss of $2.1 billion a year earlier.
The improvement was primarily due to higher crude oil realizations and the absence of second-quarter 2020 charges for special items including impairments, write-offs and severance accruals. Higher crude oil production also contributed to the improvement between periods.
The company’s average sales price per barrel of crude oil and natural gas liquids was $54 in the second quarter of 2021, up from $19 a year earlier. The average sales price of natural gas was $2.16 per thousand cubic feet in the second quarter of 2021, up from $0.81 in last year’s second quarter.
Capital and exploratory expenditures in the first six months of 2021 were $5.3 billion, compared with $7.7 billion in 2020.
Source:Offshoreenergytoday.com
Ghana’s Minister for Energy, Dr. Hon Matthew Opoku Prempeh has sworn into office a nine (9) member Governing Board of the Electricity Company of Ghana (ECG).
The Board is chaired by Mr. Keli Gadzekpo, who is the Group Chief Executive Officer and Executive Director at Enterprise Group Limited.
Other members of the Board are ECG’s Managing Director, Mr. Kwame Agyeman-Budu, Mr. Odeneho Kwaku Appiah, Madam Maata Opare, Ing. Carlien Dorcas Bou-Chedid, Hon. Frank Annor Dompreh, Mr. Sam Dubik Mahama, Dr. Nicholas Kwabena Smart, and Mr. Francis Awua-Kyeremanten Jr.
Dr. Hon Opoku Prempeh charged the Board Members to be proactive in executing their duties since they are aware of the issues ECG faces.
Assuring the Board Members of the support of the Ministry, Dr. Hon. Opoku Prempeh mentioned that they are expected to provide direction and leadership to make the company viable.
The Director-General of the State Interest and Governance Authority (SIGA), Mr. Stephen Asamoah-Boateng assured the new board of his agency’s unflinching support.
The Board Chairman Mr. Keli Gadzekpo on behalf of the Board thanked the Hon. Minister for the opportunity given them and assured him of their full commitment to their duties.
Source: https://energynewsafrica.com
A former Chairman of National Media Commission and a Diplomat Kabral Blay Amihere has been re-appointed as the chairman of the Board of Directors of Ghana Grid Company to oversee the affairs of the transmission company for the next four years.
The reconstituted Board has other members as Nana Akyereako Adjabinti I, Patricia Appiagyei, Madam Dzifa Amegashie, Prof. Kwaku Appiah-Adu, Mr Bernard Nii Sackey, Ing. Stephen Akuoko, Mr Frederick Fredua Antoh and Ing. Jonathan Amoako-Baah.
The new composition comes at a time of rapid development and growth in the power sector, with key projects currently underway to establish consistent power supply and delivery across the country.
Swearing the new Board into office, Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh urged them to implement effective strategic initiatives to ensure revenue growth and sustainability in the company.
He acknowledged the urgent need for infrastructure investment in the transmission sector and assured the Board that he would support GRIDCo in achieving its key objectives.
“I am well aware that your management team is working with the Finance Ministry on support to accelerate some of your priority projects and I shall ensure that it gets done,” he said.
Minister for Energy Dr. Matthew Opoku Prempeh in a group photograph with the new Board of GRIDCO
The Director General of the State Interest and Governance Authority (SIGA), Stephen Asamoah Boateng highlighted the significant role GRIDCo plays in the sector and promised to help the company clear all bottlenecks in order to remain successful.
Chairman of the new Board, Ambassador Blay-Amihere lauded the achievements of the erstwhile Board and assured the government of a commitment to consolidating the gains made by the company.
“We will address outstanding issues and collaborate with key players in the sector in executing our mandate as the backbone of power delivery in Ghana,” he added.
Source: https://energynewsafrica.com
The newly appointed Chief Executive Officer (CEO) of Ghana’s downstream petroleum regulator, National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has re-iterated the government’s commitment to the implementation of the Cylinder Recirculation Model.
Dr Abdul-Hamid gave the assurance at a meeting with LPG Marketers’ Association (LPGMC) in Accra, capital of Ghana, on Wednesday.
“It is not in our interest that four years after the commitment to implementing a cylinder recirculation model, it has still not been done,” he said.
“We at the NPA are determined to make this policy a reality. In the entire sub-region, it is only Ghana and Nigeria that still operate LPG filling stations. We ought to move with the times,” he added.
The Government of Ghana, through the NPA, initiated the Cylinder Recirculation Model, following the Atomic Junction Gas explosion which resulted in loss of seven lives and scores of people severely wounded.
The CRM policy is, therefore, intended to curb gas explosion in the West African nation.
So far, the NPA has piloted the CRM in Jomoro, Obuasi, Kade and Yendi.
Upon assumption of office, the new CEO has been holding consultations with stakeholders in the downstream petroleum sector.
The meeting with the LPG Marketers’ Association afforded the CEO the opportunity to understand the challenges that bedevil the LPG sector and how those challenges can be surmounted.
Welcoming Dr Abdul-Hamid and his directors to the meeting, the Vice President of the LPG Marketers’ Association, Mr Gabriel Kumi said that while the LPGMC is not against the implementation of CRM, it is opposed to how the NPA has handled its implementation all these years.
He said that the NPA has sought to implement the policy as if it were implementing a policy in a virgin territory.
“The NPA was proceeding as if there were no LPG market in Ghana prior to the floatation of the idea of a CRM,” he said.
“Some of us have been in the LPG business for the last 20-30 years and so when the NPA behaves as if it were implementing a policy from scratch, it is worrying,” he added.
Mr Gabriel Kumi also called on the government to remove all taxes on LPG to make it affordable to many Ghanaians.
He lamented the situation where today, people buy LPG in ‘tots’ and said that it is a disincentive for people to enter the LPG market.
Mr Gabriel Kumi also assured that the LPGMC is not against the CRM and promised the cooperation of the association in seeing to its proper implementation.
He, however, called on the CEO to intervene with the government to grant a partial lifting of the ban on the opening of new LPG stations, since many of them were at various stages of completion before the ban was imposed, following the Atomic Junction gas explosion.
Responding to Mr Kumi, Dr Abdul-Hamid thanked the LPGMC for their renewed commitment to the CRM policy.
He assured them that changes were going to be made within the NPA to give the LPGMC confidence to cooperate with the NPA to see to the implementation of the CRM.
Dr Abdul-Hamid asserted that in negotiation, something must always give, and to that extent, he is going to consult with the Energy Minister to request a partial lifting of the ban on the establishment of LPG stations, in order to allow those who have invested in them to reap the benefits of their investment.
Both the NPA and the LPGMC assured each other of a renewed friendship and cooperation that will see the growth and development of the LPG sector of the downstream petroleum industry. “No more fight,” Dr Abdul-Hamid said, to which the LPGMC responded, “no more fight.”
Source: https://energynewsafrica.com
Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh says his commitment towards clean energy technologies, of which nuclear power is central, remains unshaken.
The West African nation’s Energy Minister made this statement when he inaugurated the Board of Directors for Nuclear Power Ghana (NPG) at a short ceremony at the Ministry, in Accra, capital of Ghana.
He stated that at a time when Ghana is working assiduously towards boosting its industrialisation with clean and reliable energy systems such as nuclear power and renewable energy sources, the NPG has been positioned strategically to facilitate this drive.
He expressed his belief that the new board would co-ordinate the efforts of all stakeholders in this regard.
“Renewable energy sources are expected to grow significantly to make nuclear power an important part of today’s clean energy drive. By turning to clean energy systems for electricity generation, we will be able to decarbonize key areas such as transportation and other environmental pollution activities,” the Minister emphasised.
He charged the board to focus on providing relevant resources to build a strong safety culture and resilience management systems which will ensure that in the planning and development of nuclear infrastructure and related activities in Ghana, government’s purpose would be achieved.
In his remarks, the new Board Chair, Prof. Botwe Jabez Nyarko expressed his team’s gratitude to the President for reposing such confidence in them and urged them to work together as a team in order to overcome all challenges and provide benefits to the state.
The other members of the seven-member board include William Owuraku Aidoo, Dr Stephen Yamoah, Patricia Appiagyei, Ing. Emmanuel Antwi-Darkwa, Anthony Selorm Dzadzra and Dr. Robert Bright Sogbadji.
Source: https://energynewsafrica.com
Twelve suspected armed robbers stormed the premises of Ghana Power Generation Company at the Tema Freezones Enclave on Wednesday, July 28, 2021, to engage in robbery.
The twelve suspected robbers, armed with pump action guns and machetes, blocked the inner perimeter of GPGC.
GPGC had been in the Ghanaian media recently, following the award of $134 million judgment it secured against the Republic of Ghana for termination of an Emergency Power Purchase agreement it signed with Ghana for the procurement of 107MW power.
A statement from Tema Regional Police Command, which confirmed the incident, said the Kpone District Police Patrol team received a distress call at about 23:30 hours on Wednesday.
The statement said the team immediately responded to the call and on arrival at the scene, were met with sporadic gunfire from the suspected robbery gang who was attempting to flee.
“After carefully studying from where the gunshots were coming, the police team returned fire which hit a member of the gang, who was wielding a sharp machete, while the other members succeeded to abscond,” the statement said.
According to the statement, “Police then rushed the injured suspect to the Police Hospital for medical attention but was unfortunately pronounced dead on arrival by a Medical Doctor.”
The body had subsequently been deposited at the hospital’s morgue awaiting autopsy and further investigations into the incident.
“Police continue to urge the public for pieces of information on suspected criminals and assure informants of their utmost and total confidentiality,” the statement concluded.
Source: https://energynewsafrica.com
The newly appointed Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has paid a working visit to the Tema-Kpone Industrial enclave which hosts a number of petroleum products facilities to assess the state of road network in the area.
He was in the company of the Deputy Minister for Roads and Highways, Stephen Pambin Jalulah, and Director of Urban Roads, Abass Awolu.
The visit follows a promise by Dr Mustapha Hamid to pay a working visit to the area when a delegation by the Chairman of Ghana National Tanker Drivers’ Association, Mr George Nyanu, and Chairman of LPG Tanker Drivers’ Association, Shafiu Mohammed, called on him to welcome him to the downstream petroleum sector.
The delegation raised concerns about the deplorable state of the road network within the Tema industrial enclave which hosts petroleum installation during a meeting held at the office of the National Petroleum Authority on Friday, July 23, 2021.
The state of the road network between the Tema Oil Refinery and Sunon Asogli Power Ghana Limited junction had been in deplorable state without attention by successive governments.
In August 2020, Ghana’s Roads and Highways Minister, Kwasi Amoako Atta cut the sod for the construction of road. However, eleven months after the sod cutting, there has been no show on the road.
In an interview with some drivers and managers of the Tank Farm in the area, they expressed disappointment in the government for failing to fix the road despite the huge tax revenues generated from the area.
In a post on NPA’s Facebook sighted by energynewsafrica com, it said the Deputy Minister for Roads and Highways, Stephen Pambin Jalulah, while addressing the gathering, stated that work on the 5.4km VALCO-T.O.R-Kpone stretch will soon commence.
“As an interim measure to mitigate their plight, the Deputy Minister them assured that heavy equipment will be brought in by close of week to start work on the Tankers Park,” it said.
Throwing more light on the construction, Director of Urban Roads, Abass Awolu said the first 2km, which will be dualised, will be concrete given the heavy nature of the road while the remaining parts will be asphalted.
He said measures would be put in place to ensure the construction works would not inconvenience motorists.
Source: https://energynewsafrica.com
Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh, has charged the newly constituted Board of Directors of the Ghana Cylinder Manufacturing Company to work together in the interest of the company.
This, he says would ensure that the company grows and becomes profitable.
Dr Opoku Prempeh made this call when he inaugurated the newly constituted Board appointed by President Akufo Addo on Tuesday afternoon.
He specifically asked the Board to strive to wipe away the negative press that the company had had in times past.
“I am aware that in times past, the GCMC had challenges spanning workers’ agitation to some management issues. I am also aware that efforts have been made, collectively, to ensure that these issues are put to rest in the greater interest of staff and management to enable the company focus on its mandate. I am urging the new Board to provide the necessary direction and leadership so that the negative press that the company has unfortunately had will be wiped away from history,” he said.
He continued that “team work and harmony is a recipe for growth and productivity. As the GCMC aims to achieve profitable growth as the premier manufacturer of LPG cylinder and other metal fabricated products in the sub-region, I want to charge the Board to be keen on industry standards and quality assurance and improve the efficiency of service delivery.
“This is critical to the business development and advancement of the company.”
The sector Minister said as Ghana deepens its efforts in gas production, the company will be at the forefront of the sector and, therefore, it will take a lot of innovation to make it attractive in Ghana and within the sub-region.
Chairman for the Board assured the Minister they would work assiduously to raise the image and reputation of the Ghana Cylinder Manufacturing Company.
Director General for the State Interests and Governance Authority (SIGA), Stephen Asamoah Boateng urged the Board to live up to the confidence reposed in them by the President.
“We count on your support and we know we will succeed,” he added.
The nine-member Board includes CEO of the company, Madam Frances Awurabena Asiam, Nana Serwaa Owusu and Nana Forson Danso.
The rest are Adelaide Ntim, Crisler Akwei Ankrah, Bradley Kwaku Poku-Amankwah and Christopher Archer. It also has Madam Hannah Ashade as member.
Source: https://energynewsafrica.com
The Director General of the Ghana Atomic Energy Commission (GAEC), Prof. Benjamin Jabez Botwe Nyarko, has been appointed as the chairman for the newly constituted board of the Nuclear Power Ghana (NPG).
Other members of the board are Ing Emmanuel Antwi Darkwa, CEO of VRA, William Owuraku Aidoo, Deputy Minister for Power in charge of Finance and Infrastructure, Dr. Stephen Yamoah, Executive Director of Nuclear Power Ghana, Patricia Appiagyei, MP for Asokwa, Anthony Selom Dzadzra and Dr. Robert Bright Sogbaji, Nuclear Power Coordinator at the Ministry of Energy.
In a brief remarks, Dr. Matthew Opoku Prempeh, Minister for Energy, expressed his belief that the new board would co-ordinate the efforts of all the stakeholders to ensure that the country’s vision of establishing nuclear power plant is realised.
He charged the board to focus on providing relevant resources to build a strong safety culture and resilience management systems which will ensure that in the planning and development of nuclear infrastructure and related activities in Ghana, government’s purpose would be achieved.
In his remarks, the new Board Chair, Prof. Jabez Botwe Nyarko expressed his team’s gratitude to the President for reposing such confidence in them and urged them to work together as a team in order to overcome all challenges and provide benefits the state.
Source: https://energynewsafrica.com
US oil supermajor, ExxonMobil, has made an oil discovery at the Whiptail well, located in the Stabroek Block offshore Guyana, which could form the basis for future development.
The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs.
Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling continues at both wells to test deeper targets, and results will be evaluated for future development.
The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field.
Whiptail-1 is being drilled in 5,889 feet (1,795 meters) of water by the Stena DrillMAX. The previous discovery, which was announced last month and also located in the Stabroek Block, was also drilled using the same Stena drillship.
On the other hand, Whiptail-2, which is located 3 miles northeast of Whiptail-1, is currently being drilled in 6,217 feet (1,895 meters) of water by the Noble Don Taylor.
“This discovery increases our confidence in the resource size and quality in the southeast area of the Stabroek Block and could form the basis for a future development as we continue to evaluate the best sequence of development opportunities within the block”, said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.
ExxonMobil envisions at least six projects online by 2027 and sees potential for up to 10 projects to develop its current recoverable resource base.
The Liza Destiny floating production storage and offloading (FPSO) vessel is currently producing about 120,000 barrels of oil per day.
The startup of Liza Phase 2 remains on target for early 2022, and the Liza Unity FPSO expects to sail from Singapore to Guyana in late August 2021. The Unity has a production capacity of approximately 220,000 barrels of oil per day.
The hull for the Prosperity FPSO vessel is complete, and topsides construction activities are ongoing in Singapore with a startup target of 2024. The first Payara development well was spudded in June 2021, and the offshore SURF installation will begin in 3Q 2021.
Yellowtail has been identified as the fourth development project in the Stabroek Block offshore Guyana with an anticipated startup in 2025. Following necessary government approvals and a final investment decision, this project will develop the Yellowtail and Redtail fields, which are located about 19 miles (30 kilometres) southeast of the Liza developments, and potentially adjacent resources.
Source : Offshoreenergytoday.com
Dr. Hon Opoku Prempeh charged the Board Members to be proactive in executing their duties since they are aware of the issues ECG faces.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
He said that the NPA has sought to implement the policy as if it were implementing a policy in a virgin territory.
“The NPA was proceeding as if there were no LPG market in Ghana prior to the floatation of the idea of a CRM,” he said.
“Some of us have been in the LPG business for the last 20-30 years and so when the NPA behaves as if it were implementing a policy from scratch, it is worrying,” he added.
Mr Gabriel Kumi also called on the government to remove all taxes on LPG to make it affordable to many Ghanaians.
He lamented the situation where today, people buy LPG in ‘tots’ and said that it is a disincentive for people to enter the LPG market.
Mr Gabriel Kumi also assured that the LPGMC is not against the CRM and promised the cooperation of the association in seeing to its proper implementation.
He, however, called on the CEO to intervene with the government to grant a partial lifting of the ban on the opening of new LPG stations, since many of them were at various stages of completion before the ban was imposed, following the Atomic Junction gas explosion.
Responding to Mr Kumi, Dr Abdul-Hamid thanked the LPGMC for their renewed commitment to the CRM policy.
He assured them that changes were going to be made within the NPA to give the LPGMC confidence to cooperate with the NPA to see to the implementation of the CRM.
Dr Abdul-Hamid asserted that in negotiation, something must always give, and to that extent, he is going to consult with the Energy Minister to request a partial lifting of the ban on the establishment of LPG stations, in order to allow those who have invested in them to reap the benefits of their investment.
He said measures would be put in place to ensure the construction works would not inconvenience motorists.
Source: https://energynewsafrica.com
In his remarks, the new Board Chair, Prof. Jabez Botwe Nyarko expressed his team’s gratitude to the President for reposing such confidence in them and urged them to work together as a team in order to overcome all challenges and provide benefits the state.
Source: https://energynewsafrica.com
