Nigeria: Electricity Supply Boosted As 700MW Zungeru Hydroelectric Power Connected To Grid
Nigeria has connected the recently completed 700 Megawatts Zungeru Hydroelectric Power Plant to the National Grid to boost electricity.
“Today the Zungeru Hydroelectric Power Plant has become a reality; we have as of today joined the grid with 700MW. Testing started Wednesday night.
“Information has reached us with the pictorial view of the meters showing us that the 700MW has gone on the grid,” the outgoing Minister for Power Abubakar Aliyu said during a farewell party for him and the Minister of State, Mr. Goddy Jedy-Agba by the Ministry of Power on Friday in Abuja.
The minister said that the Kashimbila Hydroelectric Power Project, a joint project with the Ministry of water resources had been completed.
He said phase one of the project which is the line taking electricity to Yandev in Benue over 240 kilometers, had been completed and inaugurated last week.
On the Siemens project, Mr Aliyu said that the ministry had installed transformers in Abuja, Ajah, Lagos, adding that 10 massive mobile substations had been cleared.
“We have 10 of them at the port and the first one is in Ajah sub-station and some are also on the sea coming, ‘’ he said.
Mr Aliyu also said that the ministry of power on Wednesday presented to the Federal Executive Council (FEC), a contract for over 13, 000kilometers distribution line.
He said that the contract was approved for the Presidential Power Initiative (PPI).
“One thing we should have in our minds is that these things don’t happen just at once, it is a process. These bring about delays of some of the projects, ‘’he said.
The minister urged all players in the industry to continue to work together in synergy to be able to achieve the desired results.
According to him, electricity is a value chain from generation to distribution, urging players to work in synergy.
Aliyu commended members of staff of the ministry and stakeholders in the sector, for the cordial working relationship.
He said that the ministers would not have achieved what they achieved without the support of the staff of the ministry.
Also speaking, the Minister of State for Power, Jedy-Agba also thanked the staff for the working relationship that existed between them.
“It is a long journey but I enjoyed working with you all as you took directives from us and you implemented them, ‘’ he said.
Nigeria: Dangote has Paid Back 70% Of Loans For Refinery Project-CBN Boss Announces
The Dangote Group has paid back 70 per cent of the loans it took from the Central Bank of Nigeria to finance the group’s 650,000 barrels per day oil refinery located in Lekki, Lagos State, Governor of CBN, Mr Godwin Emefiele, has revealed.
Dangote Refinery, which is Africa’s largest crude oil refinery, was officially commissioned by President Muhammadu Buhari, on Monday, May 22, at a ceremony attended by many oil and gas leaders.
The refinery was initially estimated to cost just about $9 billion but the project cost escalated and was eventually completed with a total of $18.5 billion.
Speaking at the commissioning of the refinery, Godwin Emefiele said the amount constituted 50 per cent equity investment by Dangote and 50 per cent debt finance by banks.
According to him, the commercial loan component of the project was financed majorly by domestic banks while the rest was provided by foreign banks.
He added that the CBN also partnered with the Dangote Group to ensure the successful completion of the project by providing about N125 billion for domestic currency requirements while also ensuring the availability of foreign exchange (FX) to pay for imported equipment.
“We have it on good authority that the Dangote Group has paid off some portion of these commercial loans even before this commissioning today,” Emefiele said.
“Today, total loans outstanding have dropped from over $9 billion when this project started to $2.7 billion. This reflects the astute credit worthiness and commercial capability of the group and its chairman, Alhaji Dangote.
“I must, at this juncture, appreciate all the participating local Nigerian banks, which did not only partner with the project through effective financing but were keenly aware of the importance of the project for our nation.
“They provided immense support and exceptional understanding, even when interest payments and principal repayment had fallen due,” Emefiele stated.
Emefiele further expressed optimism that Nigeria, under the incoming administration, would cease importing petroleum products, fertiliser and petrochemicals and save the country over $26 billion.
Source: https://energynewsafrica.com
Uganda: Gov’t Bans Charcoal Production In A Bid To Protect Environment
Uganda has banned charcoal production and business in the North and North-Eastern part of the country.
This directive was contained in Executive Order Number 3 of 2023 dated May 19, which the state house made public on Wednesday.
According to a report by Uganda-based Monitor, the regions where the ban applies are Karamoja, Tesco, Lango, Acholi and West Nile where security forces especially commanders of Uganda People’s Defence Forces, are accused of aiding destroyers of the environment by guarding charcoal producers and transporters.
“In order to save the environment and also the reputation of the NRM, I, therefore, hereby ban the cutting of trees for charcoal burning,” President Yoweri Museveni stated in the order, citing extinction threats to valued Shea-butter trees according to Monitor.
The ban on charcoal production has been welcomed by some Members of Parliament and environmentalists.
Source: https://energynewsafrica.com
ARDA Congratulates Dangote Group…Says Refinery Will Reduce Import Of High-Sulphur Fuel To Africa
African Refiners and Distributors Association (ARDA) has congratulated Nigerian businessman, Aliko Dangote, and his Dangote Group for the successful commissioning of their 650,000 barrels per day refinery and petrochemicals facility located in Lekki, Lagos, State.
ARDA President and Chief Executive of the National Petroleum Authority of Ghana, Dr Mustapha Abdul-Hamid said in a release that while the Association continues to work alongside the African Union Commission (AUC) to harmonise fuel specifications across Africa, the Dangote Refinery was designed to produce cleaner AFRI-6 (10 ppm Sulphur) fuels from the onset.
Dr. Abdul-Hamid said the refinery was a game-changer for Africa’s clean fuels journey as its start-up will reduce the import of high-Sulphur fuels into the continent while meeting climate commitments and reducing public health challenges.
According to Dr. Abdul-Hamid, “This strategic move by the Alhaji Dangote and the Dangote Group will also assure Africa’s energy security even as the continent’s growing energy needs are met sustainably while reducing foreign exchange expended on petroleum products imports, providing employment and promoting a strong market for African crude oil on the continent amidst the global push away from fossil fuels.”
ARDA Executive Secretary and former NNPC COO Refining & Petrochemicals, Mr Anibor Kragha also commended Alhaji Dangote and said the refinery has highlighted the viability of large-scale downstream industry investments that are fundamental for Africa to refine its crude oil and create a robust, intra-African energy market amidst the global geopolitics and energy transition concerns.
Kragha also said that successful investments like the Dangote Refinery would positively impact the petroleum products supply chain dynamics of various African countries and would be critical for the continent to develop and implement a unique, integrated, sustainable African Downstream Energy Transition Roadmap that would prioritise cleaner, low-sulphur fuels and carbon emissions reduction efforts in the near-term and mature, cost-effective renewable energy solutions later.
In November last year, an ARDA delegation including the Executive Secretary and top executives from refineries and storage & distribution companies in Senegal (SAR, SENSTOCK and Elton Oil), Cote d’Ivoire (SIR and SMB), Gabon (SOGARA) and Zambia (Indeni) as well as the Department of Hydrocarbons in the Ministry of Cote d’Ivoire and ARSE, the downstream regulator in Niger Republic toured the Dangote Refinery site and had commended the intense efforts to bring the refinery on stream.
Kragha said, “The commissioning of the Dangote Refinery about six months after the ARDA delegation visit last November, serves as a testimony to the vision and doggedness of the excellent Dangote team to deliver a world-class ‘Refinery of the Future’ that prioritises cleaner fuels and maximises value addition via petrochemicals facilities while reducing its carbon footprint in line with global best practices.”
Source: https://energynewsafrica.com
Norway: Aker BP Makes “Significant” Oil Discovery Offshore
Aker BP is nearing completion of drilling the Øst Frigg Beta/Epsilon exploration well, situated in the Yggdrasil area of the Norwegian North Sea.
The well has resulted in a significant oil discovery.
Preliminary estimates indicate a gross recoverable volume of 40-90 MMboe, surpassing the previously communicated pre-drill estimate of 18-45 MMboe.
The discovery enhances the resource base for the Yggdrasil development, which was previously stated at 650 MMboe (gross).
The Plan for Development and Operations (PDO) was submitted to Norwegian authorities in December 2022, with production scheduled to commence in 2027.
“We are extremely pleased with the results of this well. The discovery will be evaluated as a potential addition to the Yggdrasil development. We see further upside potential around Yggdrasil and, in collaboration with our partners, will continue active exploration in the area,” says Per Øyvind Seljebotn, SVP Exploration & Reservoir Development in Aker BP.
The oil discovery is located within production licenses 873 and 442. In license 873, the partnership consists of Aker BP (operator, 47.7% interest), Equinor (40% interest) and PGNiG Upstream Norway (12.3% interest).
In license 442, the partnership comprises Aker BP (operator, 87.7% interest) and PGNiG Upstream Norway (12.3% interest).
Source: Worldoil.com
UK Energy Market Regulator To Allow Suppliers To Boost Profit Margins
After dozens of UK energy firms went bankrupt during the energy crisis, Britain’s energy market regulator on Thursday proposed amendments to the profit margins companies are allowed to make, which could boost margins by 27%.
The UK has a so-called Energy Price Cap in place, which protects households from excessively high bills by capping the price that providers can pass on to them, but which additionally burdens energy providers.
According to the consultation proposed on Thursday by the regulator Ofgem, a hybrid allowance is proposed for the Earnings Before Interest and Tax (EBIT) allowance in the default tariff cap.
This hybrid allowance will include a fixed and a variable component based on a revised assessment of the capital employed and cost of capital because the energy market has changed significantly since the margin allowance was initially set in 2018.
Njord Reopens: Norway’s Equinor Boosts Gas Production Amid Europe’s Energy Crisis
Under the proposal, the money energy firms can set an indicative EBIT allowance of £47 per customer, compared with a £37 per customer margin allowance under Ofgem’s current approach.
The proposal has an open period for comments and responses by June 28, 2023.
Subject to the consultation, the planned implementation of changes would take effect in October 2023, Ofgem said today.
The allowance for higher profit margins would be welcome news for energy suppliers in the UK, which have struggled since the start of the energy crisis due to the surge in commodity prices at the end of 2021 and last year, especially of natural gas.
More than a dozen power suppliers in the UK exited the retail energy market in the autumn of 2021 and early 2022.
Also today, Ofgem said that the energy price cap from July 1 to September 30 would be set at an annual level of $2,566 (£2,074) for a dual fuel household paying by direct debit based on typical consumption. The new cap is down by around $618 (£500) compared to current levels due to the recent decline in wholesale energy prices.
Source: Oilprice.com
Ghana: GNPC Board Washes Hands Off ‘Controversial’ Sale Of Oil Assets To PetroSA—Freddie Blay
The Board of Ghana National Petroleum Corporation (GNPC) has decided to stay away from any discussion regarding the controversial planned sale of half of the seven per cent share Ghana acquired from Anadarko’s share in the Jubilee and Ten oilfields, to PetroSA, the national oil company of South Africa.
Rather, GNPC wants Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh, or President Nana Akufo-Addo to handle the controversial deal going forward.
“We have washed our hands off. Let the minister do what he thinks is best,” the under-fire Board Chairman of GNPC, Mr. Freddie Blay said on Accra-based Citi FM’s Eyewitness News on Tuesday after he said the board met and took that decision on Tuesday.
Mr. Freddie Blay and GNPC have come under fire after a letter by the Minister for Energy, Dr Matthew Opoku Prempeh, to Jubilee House, the seat of Government, revealed that he was clandestinely dealing with South Africa’s PetroSA to sell Ghana’s oil assets to the company despite objecting to the planned sale.
In a strongly worded letter sent to the Jubilee House, the Energy Minister said Mr Freddie Blay was pretty much aware that he had written to South Africa’s Minister for Energy and Petroleum Resources, Gwede Mantashe, that Ghana would not sell its seven per cent interest to PetroSA.
In the said letter to Gwede Mantashe, Dr Matthew Opoku Prempeh wrote: “Honourable Minister, the Government of Ghana would like to reiterate that we cannot support PetroSA in its quest to pursue pre-emption of Jubilee Oil Holdings Limited (JOHL) stakes that have already been acquired by Ghana, as this would be inconsistent with our stated objectives of increasing the State’s stakes in our natural resources development including oil and gas. This policy informed the use of state funds in this acquisition,” parts of the letter dated 24/11/2022 stated.
Despite being copied and aware of the Minister’s letter to South Africa’s Minister for Energy and Mineral Resources, the Board Chairman of GNPC, Mr Freddie Blay, on 23rd May 2023, wrote to PetroSA: “We receive your last letter dated 22nd December 2022 and noted the contents thereof. Under this, and further, our meetings regarding the said pre-emption transaction in line with the rights afforded to PetroSA in the DWT Joint Operating Agreement, and on the discussion of an equal split in the DWT interest held by JOHL with PetroSA and GNPC, we, as mentioned in conversation, sought guidance from our legal advisors on the matter.
“Consistent with the said advice, the GNPC Board has considered and is agreeable to your proposal to share the interest in an equal split in the DWT interest held by JOHL. Our Board, considering your strong views in maintaining PetroSA’s claim to pre-emptive rights afforded under the DWT Joint Operating Agreement, and being desirous to continue to cultivate the cordial relationship between our two entities to agree that this split is prudent to both parties’ interest.”
This revelation prompted a coalition of Civil Society Organisations working in the extractive sector, anti-corruption and good governance to demand the immediate removal of Mr. Freddie Blay and Mr. Opoku Ahweneeh-Danquah, CEO of GNPC, from their post.
The CSOs, numbering about 29 comprising African Centre for Energy Policy (ACEP), Ghana Anti-Corruption Coalition (GACC) and Centre for Extractives and Development Africa (CEDA), were of the view that the continuous stay in office of the duo poses threats to the nation’s oil and gas resources.
For 2022 alone, Ghana raked in some US$290 million from the seven per cent share in the Jubilee and TEN, according to a report by Public Interest and Accountability Committee (PIAC).
However, reacting to the demands by the CSOs, Mr Freddie Blay stated that he did no wrong in the planned sale of the oil assets.
Mr Freddie Blay said he had discussed the sale of Ghana’s oil assets to PetroSA with President Nana Akufo-Addo.
As far as he was concerned, the planned sale of the assets was best for Ghana, saying the state risked losing it since PetroSA had been claiming it.
“I have done nothing wrong. I have observed my conscience and I thought I was protecting the interest of the country, and I am convinced about it and if others think otherwise and if those who appointed me are saying otherwise, then so be it.
“I have spoken to the President about it, and we haven’t gotten to where he will ask for his job back. It is not about convincing the President. The law will speak for itself, and the law will talk and there are few documents on the agreement,” Mr. Blay said.
Source: https://energynewsafrica.com
South Africa: NERSA Member Advocates Review Of Electricity Regulations To Protect Consumers
A member of the National Electricity Regulator of South Africa (NERSA), Mr. Nhlanhla Gumede, has called for a review of his country’s electricity regulations to ensure consumer protection.
According to him, the current laws regulating electricity in South Africa protect the suppliers from the disadvantage of the poor consumer.
Speaking exclusively to the Editor of energynewsafrica.com, Michael Creg-Afful, in Accra recently, Mr. Gumede assured the people of South Africa of his avowed commitment to facilitating reforms in the country’s electricity sector.
He lamented that power consumers in South Africa do not have associations and also, the larger consumers fear antagonizing Eskom, hence, failing to participate in their efforts at reforming the electricity sector to protect innocent consumers.
Asked why his outfit is unable to initiate steps to fast-track reforms in the power sector, he explained that the law setting up the NERSA defines their role and it, therefore, restricts any revolutionary measure to tilt changes towards consumers without strictly adhering to the South Africa Constitution.
Though Mr. Gumede expressed the hope that the process would be quickened, he stressed that unfortunately, “consumers are failing themselves by not putting up proposals to ensure changes in the sector,” which is beneficial to suppliers.
Sadly, the Act setting up the NERSA confines their scope and that is why last month, an upward adjustment of over 18 per cent amid irregular electricity supply in South Africa could not be resisted because of the uncoordinated consumer front in the country.
It is in the phase of these inconsistencies in the electricity supply chain in that country that compels Mr. Gumede who is an electrical engineer by profession is advocating reforms and urging South Africans to firm interest groups to fight the law regulating the sector in the country to cushion poor consumption.
“Most essential service consumers in countries in Africa and other developing countries suffer this fate as a result of the way our laws regulating most essential services are formulated and regulated,” he explained.
Source: https://energynewsafrica.com
Though Mr. Gumede expressed the hope that the process would be quickened, he stressed that unfortunately, “consumers are failing themselves by not putting up proposals to ensure changes in the sector,” which is beneficial to suppliers.
Sadly, the Act setting up the NERSA confines their scope and that is why last month, an upward adjustment of over 18 per cent amid irregular electricity supply in South Africa could not be resisted because of the uncoordinated consumer front in the country.
It is in the phase of these inconsistencies in the electricity supply chain in that country that compels Mr. Gumede who is an electrical engineer by profession is advocating reforms and urging South Africans to firm interest groups to fight the law regulating the sector in the country to cushion poor consumption.
“Most essential service consumers in countries in Africa and other developing countries suffer this fate as a result of the way our laws regulating most essential services are formulated and regulated,” he explained.
Source: https://energynewsafrica.com Ghana: ECG Announces Five Days’ Revenue Mobilisation Exercise From May 29
Ghana’s southern power distribution company, Electricity Company of Ghana (ECG), has hinted at embarking on a revenue mobilisation exercise across its operational areas, starting from Monday, 29th May to 2nf June 2023.
According to ECG, the exercise will focus on all categories of customers who are in arrears including state-owned enterprises (SOEs).
In a statement issued by ECG on Tuesday, 23 May, it said it would operate with a lean workforce to ensure its top management and staff embark on the nationwide exercise.
The statement urged customers who owe arrears to settle their bills to avoid disconnection.
During the last revenue mobilisation exercise, which started from March 20 to April 20, 2023, the company recovered about Gh¢3.1 billion from its customers.
Source: https://energynewsafrica.com
In a statement issued by ECG on Tuesday, 23 May, it said it would operate with a lean workforce to ensure its top management and staff embark on the nationwide exercise.
The statement urged customers who owe arrears to settle their bills to avoid disconnection.
During the last revenue mobilisation exercise, which started from March 20 to April 20, 2023, the company recovered about Gh¢3.1 billion from its customers.
Source: https://energynewsafrica.com Ghana: NPA CEO Adjudged 2022 Outstanding Public Sector Leader
The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, has received the Outstanding Public Sector Leadership Award for the Year 2022 for his exemplary leadership, innovation and transformation in the petroleum downstream industry in the country.
It was also in recognition of his drive and professionalism in regulating the petroleum downstream sector.
The prestigious award was conferred on him at the 7th Ghana CEO Summit held at the Kempinski Gold Hotel in Accra, earlier this week.
At the same event, the Chairman of the Governing Board of the NPA, Mr. Joe Addo-Yobo, was awarded the Public Sector Board Chairman for the Year 2022.
A member of the NPA Governing Board, Mr. Bernard Owusu, received the awards on behalf of Dr. Abdul-Hamid and Mr. Addo-Yobo amidst applause from the audience comprising captains of industry and business development experts.
The ceremony, which involved speeches and panel discussions, was held on the theme: “Economic Sovereignty, Sustainable Corporate Governance, Digital Industrial Transformation: New Paths for Growth and Prosperity: A Private-Public Sector CEO Dialogue & Learning’’.
It is recalled that Dr. Abdul-Hamid emerged as the Public Sector CEO for the Year 2022 at the Ghana Business Awards.
Similarly, in 2021 the NPA Boss was awarded for his sterling leadership, business excellence, and professionalism at the Ghana CEO Excellence Awards.
In his address at the seventh Ghana CEO Summit, the CEO of Chief Executives Network Ghana, Mr. Ernest De-Graft Egyir, said the awards were in recognition of the leadership, innovation and transformation exhibited by captains of industry in the public and private sectors.
In his speech, a business development expert, Prof. Ayaz A. Shafi, urged businesses to review the way they operate in terms of structure and leadership.
He also tasked captains of industry to take advantage of emerging issues to grow and sustain their businesses, saying “it is a sure recipe for failure if you do not take advantage of emerging issues.”
Reacting to the award, Dr. Mustapha Abdul-Hamid in a tweet said: “I was the recipient of the award for “Outstanding Public Leader for the year 2022” at the just ended 7th Edition of the Ghana CEO summit. I’m extremely grateful to the Board, Management and Staff of the National Petroleum for their continuous support.”
Source: https://energynewsafrica.com
At the same event, the Chairman of the Governing Board of the NPA, Mr. Joe Addo-Yobo, was awarded the Public Sector Board Chairman for the Year 2022.
A member of the NPA Governing Board, Mr. Bernard Owusu, received the awards on behalf of Dr. Abdul-Hamid and Mr. Addo-Yobo amidst applause from the audience comprising captains of industry and business development experts.
The ceremony, which involved speeches and panel discussions, was held on the theme: “Economic Sovereignty, Sustainable Corporate Governance, Digital Industrial Transformation: New Paths for Growth and Prosperity: A Private-Public Sector CEO Dialogue & Learning’’.
It is recalled that Dr. Abdul-Hamid emerged as the Public Sector CEO for the Year 2022 at the Ghana Business Awards.
Similarly, in 2021 the NPA Boss was awarded for his sterling leadership, business excellence, and professionalism at the Ghana CEO Excellence Awards.
In his address at the seventh Ghana CEO Summit, the CEO of Chief Executives Network Ghana, Mr. Ernest De-Graft Egyir, said the awards were in recognition of the leadership, innovation and transformation exhibited by captains of industry in the public and private sectors.
In his speech, a business development expert, Prof. Ayaz A. Shafi, urged businesses to review the way they operate in terms of structure and leadership.
He also tasked captains of industry to take advantage of emerging issues to grow and sustain their businesses, saying “it is a sure recipe for failure if you do not take advantage of emerging issues.”
Reacting to the award, Dr. Mustapha Abdul-Hamid in a tweet said: “I was the recipient of the award for “Outstanding Public Leader for the year 2022” at the just ended 7th Edition of the Ghana CEO summit. I’m extremely grateful to the Board, Management and Staff of the National Petroleum for their continuous support.”
Source: https://energynewsafrica.com South Africa Considers Countering Its Energy Crisis With Coal
South Africa, which is going through an energy crisis, is weighing the possibility of extending the operational lives of two of its largest coal-fueled power plants to boost energy security, sources with knowledge of the plans told Bloomberg.
The plants Kendal and Lethabo, which account for around a fifth of the power capacity of state-owned utility Eskom, could see their lives extended, according to Bloomberg’s sources.
However, extensions of the lives of coal power plants could be a challenge to both the financially troubled Eskom and South Africa’s plans to reduce greenhouse gas emissions.
At present, the Kendal and Lethabo power plants are expected to be decommissioned after 2035.
The government is still assessing whether it should allow extensions of the plants’ operations, weighing energy security against pledges to cut emissions.
Coal is by far the primary energy source for South Africa, accounting for around 80% of the country’s energy mix.
The country is also the world’s fifth-largest coal exporter.
But South Africa is going through a significant energy crisis with daily rolling power cuts that is crippling the economy, as state firm Eskom has failed to boost generation capacity to keep pace with growing demand in recent years.
The South African government has recently started to push for more renewable power generation.
Last month, South Africa issued the first request inviting proposals for renewable energy procurement for 3,740 megawatts (MW) in the biggest such program in Africa.
“The release of this Phase One RFP comes at an opportune moment, with government remaining steadfast in eradicating the electricity and water supply challenges, and the rampant landfill shortages our country continues to face,” South Africa’s Public Works Minister Sihle Zikalala said in a statement at the time as carried by Bloomberg.
Early this year, U.S. Secretary of the Treasury Janet Yellen said that the United States supports South Africa’s transition to cleaner energy and will help mobilize financing from the private sector to assist the coal-dependent country.
Source:Oilprice.com
Ghana: BOST MD, Edwin Provencal, Grabs Two Prestigious Awards At Ghana CEOs’ Summit
The Managing Director of Bulk Oil Storage and Transportation Company Limited (BOST), Mr. Edwin Alfred Nii Obodai, has been honoured with two prestigious awards at the Ghana CEO Summit awards ceremony held in Accra, the capital of Ghana.
The two awards are ‘CEO of The Year 2022 for Bulk Oil Distribution in Ghana’ and ‘Outstanding Public Sector Leadership 2022’.
The awards were given in recognition of Mr. Provençal’s extremely valuable contributions and his transformative leadership at the nation’s fuel logistics company since he took over the management of the company.
The two enviable awards were both presented to Mr. Provençal by Ghana’s former President, John Dramani Mahama, who was the Special Guest of Honour at the event.
These awards are yet again a deep sense of progress BOST has achieved under the leadership of Mr. Provençal and his Board with Mr. Ekow Hackman as its Chairman.
The Board Chairman, Mr. Hackman, together with some other members of the Board of Directors and some management staff, attended the ceremony to witness Mr. Provençal scooping the awards.
Mr. Provençal, on his part, thanked the President of the Republic, H.E. President Nana Akufo Addo, and the Vice President, Dr. Mahamudu Bawumia, for allowing him to serve his country.
He acknowledged the continuous support of the Minister for Energy, Dr Matthew Opoku Prempeh, SIGA and that of the Board and management of BOST.
Mr. Provençal also extended his appreciation to the union and the entire staff for their unflinching support in turning the company around.
Source: https://energynewsafrica.com
Mr. Provençal, on his part, thanked the President of the Republic, H.E. President Nana Akufo Addo, and the Vice President, Dr. Mahamudu Bawumia, for allowing him to serve his country.
He acknowledged the continuous support of the Minister for Energy, Dr Matthew Opoku Prempeh, SIGA and that of the Board and management of BOST.
Mr. Provençal also extended his appreciation to the union and the entire staff for their unflinching support in turning the company around.
Source: https://energynewsafrica.com Ghana: Sack GNPC Board Chairman, CEO…They Pose Threats To Oil & Gas Sector —CSOs Demand
A coalition of Civil Society Organisations (CSOs) in the Republic of Ghana has asked the President of the country to immediately remove the CEO of GNPC, Opoku Ahweneeh Danquah, and the Board Chairman, Freddie Blay, from office for scheming to illegally sell Ghana’s oil assets to PetroSA, the national oil company of South Africa.
According to the CSOs working on extractives, anti-corruption and good governance, the duo are threats to the nation’s oil and gas resources, saying their continuous stay in office will not mean well for the country.
The CSOs, numbering about 29, comprise African Centre for Energy Policy (ACEP), Ghana Anti-Corruption Coalition (GACC), the Centre for Extractives and Development Africa (CEDA), the Public Interest and Accountability Committee (PIAC), IMANI Centre for Policy and Education and Centre for Democratic Development.
The call by the CSOs followed the revelation in a letter by the Energy Minister, Dr Matthew Opoku Prempeh, that the two have planned to go ahead and sell half of the seven per cent interest Ghana acquired from Anadarko in DWT and WCTP block in 2021.
Addressing the press on Tuesday, May 23, the Coordinator for the coalition, Abdul Karim Mohammed said the continuous presence of these individuals, closely associated with petroleum operations, poses significant risks to Ghana’s interests.
Mr Mohammed explained that the Energy Minister, Dr Mathew Opoku Prempeh, is against a decision by the Board Chairman of GNPC, Mr Blay, for offering interest in Ghana’s oil field to a South African oil company, Petroleum Oil and Gas Corporation of South Africa (PetroSA).
Mr Blay, in his capacity as the GNPC Board Chairman, is said to have written to PetroSA, offering it an equal split in the interest held by GNPC’s subsidiary, Jubilee Oil Holdings Ltd.
“It is a viable field, and it is giving us a lot of money if we allow this to go forward. What it means is that PetroSA will be entitled to 50 per cent of the earnings from the field, whereas they have not had any role in developing the field to the point where it is now viable.
“The information we have is that the Minister for Energy has objected to this transaction but the Chairman of GNPC Board is pushing this transaction to the extent that the Minister for Energy had written to the Jubilee House over this transaction.
“We demand the immediate transfer of JOHL and all its assets from the Cayman Island and other jurisdictions to GNPC,” he stated.
Source: https://energynewsafrica.com
Ghana: Energy Minister Fights GNPC Board Chairman Over ‘Dubious’ Plan To Sell Ghana’s Oil Asset To PetroSA
Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh, has mounted spirited opposition to a clandestine move by GNPC, led by its board Chairman, to sell 50 per cent of Ghana’s seven per cent interest acquired from Anadarko in the Deep Water Tano and West Cape Three Points (WCTP) block to South Africa’s national oil company, PetroSA.
In a strongly worded letter sent to the Jubilee House, the seat of Government, to draw the attention of President Nana Akufo-Addo to the scandalous activity by the national oil company, Dr Matthew Opoku Prempeh described the action by the GNPC Board Chairman as an absurdity.
According to the Minister, Mr. Freddie Blay, Board Chairman of GNPC, is pretty much aware that he had written to South Africa’s Minister for Energy and Petroleum Resources, Gwede Mantashe, that Ghana would not sell its seven per cent interest to PetroSA.
In the said letter to Gwede Mantashe, Dr Matthew Opoku Prempeh wrote: “Honourable Minister, the Government of Ghana would like to reiterate that we cannot support PetroSA in its quest to pursue pre-emption of Jubilee Oil Holdings Limited (JOHL) stakes that have already been acquired by Ghana, as this would be inconsistent with our stated objectives of increasing the State’s stakes in our natural resources development including oil and gas. This policy informed the use of state funds in this acquisition,” parts of the letter dated 24/11/2022 stated.
Despite being copied and aware of the Minister’s letter to South Africa’s Minister for Energy and Mineral Resources, the Board Chairman of GNPC, Mr. Freddie Blay, on 23rd May 2023, wrote to PetroSA: “We receive your last letter dated 22nd December 2022 and noted the contents thereof. Under this, and further, our meetings regarding the said pre-emption transaction in line with the rights afforded to PetroSA in the DWT Joint Operating Agreement, and on the discussion of an equal split in the DWT interest held by JOHL with PetroSA and GNPC, we, as mentioned in conversation, sought guidance from our legal advisors on the matter.
“Consistent with the said advice, the GNPC Board has considered and is agreeable to your proposal to share the interest in an equal split in the DWT interest held by JOHL. Our Board, considering your strong views in maintaining PetroSA”s claim to pre-emptive rights afforded under the DWT Joint Operating Agreement, and being desirous to continue to cultivate the cordial relationship between our two entities to agree that this split is prudent to both parties’ interest.”
This letter by the GNPC’s Chairman is what incensed Ghana’s Minister for Energy to report him to President Nana Akufo-Addo.