The Italian government expects to raise around $4.2 billion (4 billion euros) from a new windfall tax on energy companies and a price cap on the electricity produced by coal, fuel oil, or renewable power generation, officials at the central bank, Bank of Italy, said on Monday.
“With these measures the support to households and businesses will be partially funded through additional revenues stemming from those that have benefited from the extraordinary increase in energy prices,” Bank of Italy official Fabrizio Balassone said at a Parliament hearing on the budget measures for the period 2023-2025.
Next year, Italy plans to impose a one-off windfall tax of 50% on the extra income energy firms have booked as a result of the rise in oil and gas prices.
The tax is 50% of the part of 2022 income which is at least 10% higher than the average income reported between 2018 and 2021, in the latest version of the windfall tax plan seen by Reuters.
According to the Bank of Italy, the government will raise $2.74 billion (2.6 billion euros) from the windfall tax, and another $1.48 billion (1.4 billion euros) from a price cap on electricity production from coal, fuel oil, and renewables. The price cap, which will be in place between December 1, 2022, and June 30, 2023, is at $190 (180 euros) per megawatt-hour (MWh), per EU regulations.
The budget, the first for Italy’s new government led by Giorgia Meloni, looks to impose higher windfall taxes on energy days after the UK also raised its taxes on oil and gas producers operating in the North Sea and expanded the windfall tax to include low-cost electricity generators.
Last month, UK Chancellor of the Exchequer, Jeremy Hunt, said in the Autumn Statement that the UK is raising the Energy Profits Levy by 10 percentage points to 35% from January 1, 2023, and is extending it to the end of March 2028, from December 31, 2025, as originally planned when the levy was 25%.
The government expects the Energy Profits Levy to raise over £40 billion by 2027-28.
The UK government also imposed a temporary 45% Electricity Generator Levy that will be applied to the extraordinary returns being made by electricity generators.
Last month, Austria also unveiled plans to impose a windfall tax on energy firms, including a tax of up to 40% for oil and gas companies.
Source: Oilprice.com
The Corporate Affairs Manager of the Bui Power Authority (BPA), Madam Akua Sakyi, was on Saturday, honoured with the ‘Shero in Communication’ award at the 4th Edition of the National Communications Awards 2022 held in Accra.
The BPA Corporate Affairs Unit, which Akua Sakyi heads, was also recognised and honoured for its exceptional performance and impact in the public sector, especially in the energy industry.
Akua joined Bui Power Authority in 2020 and has spearheaded BPA’s communication and engagements with its stakeholders and positioned the Authority as the leader in Renewable Energy Sector in Ghana and beyond.
Akua Sakyi (Right) receiving her award
She is a lawyer by a profession and has over 20 years of experience in administration, communication, event management, protocol and secretarial functions.
Her experience cuts across the government sector, multinational companies, the private sector and foreign missions.
The National Communications Awards is a high-impact communication and development event produced by RAD Communications Limited to celebrate and honour Champions in Communications, Telecom, Digitalisation, Corporate Communication, and Cybersecurity, amongst others.
Receiving the awards, Akua Sakyi and the Corporate Affairs team took the opportunity to thank the CEO of Bui Power Authority, Samuel Kofi Ahiave Dzamesi, who has created a congenial atmosphere and under whose leadership and guidance the Corporate Affairs Team continues to work and strive for excellence.
They also took the opportunity to thank the Board, Management and staff of Bui Power Authority for their continuous support.
Source: https://energynewsafrica.com
Ghana’s power transmission company, GRIDCo, has set a target to achieve about 40 per cent of women being part of its core business by 2030.
To achieve this target, GRIDCo says it has collaborated with USAID, through the Engendering Utilities Programme, and designed tailored interventions that will help to grow the number of women in their technology space.
The company is also collaborating with the Kwame Nkrumah University of Science and Technology (KNUST) College of Engineering and contributing to its endowment fund to support the training and development of fresh engineers with an emphasis on the training of female engineers.
The Chief Executive Officer of the Ghana Grid Company (GRIDCo), Ing Ebenezer Kofi Essienyi disclosed this in a speech read on his behalf by Mr Daniel Amartey, an advisor to the CEO, at the Women in Energy Conference last Week.
The 4th Women in Energy Transition, which was held in Accra, the capital of Ghana, attracted women in energy from both public and private sector institutions.
It was under the theme ‘Energy Transition: Prospects for Women in Energy’.
The GRIDCo CEO said the company is fully aware of the input and impact of women being on its engineering and operations business and would, therefore, do everything possible to increase their numbers in the organisation.
He noted that at the inception of GRIDCo, there were a limited number of women who were involved in the core business of the company.
However, after fourteen years in operation, the number of female staff has changed significantly, and women are engaged in almost every sphere of GRIDCo’s operations.
The country’s energy sector, in the past, was male dominated but the last three decades have witnessed appreciable growth in the number of women permeating the sector.
Source: https://energynewsafrica.com
Nigeria’s power distribution company, Abuja Electricity Distribution Company (AEDC), has disconnected electricity supply to Government agencies in Niger Delta State over their inability to settle unpaid N1.3 billion ($2,923,700) electricity bills.
The company said it had no other choice but to disconnect supply as the debt had been long overdue.
“We have no other option than to disconnect supply to the Government House, ministries, departments and agencies over the accumulated unpaid electricity bills totalling N1.3 billion as at September,” Mr Aminu Ubandoma, the company’s legal officer, said as carried by News Agency of Nigeria (NAN).
He continued that “The government released N200 million of the outstanding debt in September and promised to pay N100 million monthly until it offsets the debt.
“It failed to meet the obligation, however.
“The debt notwithstanding, the government has been up to date since then in offsetting its current monthly bills of about N75 million.
“We took the decision to disconnect supply since government reneged on its promise to pay outstanding debt at the rate of N100 million monthly.
“That promise was made after an intervention by the state’s House of Assembly four months ago,’’ Ubandoma said.
He said the AEDC would restore power supply to government facilities only after the payment of at least N500 million of the outstanding debt.
Reacting to the development, the Secretary to Niger State Government, Alhaji Ahmed Matane said the state government has promised to settle the debt when is finances improved.
“This debt was inherited by the current administration and since government is a continuum, we will settle it when government’s financial position improves.
“We have invested more than N13 billion on the procurement of many facilities for the AEDC to enable it to perform optimally.
“The company should have commended the state government for its useful contribution to its growth rather than embarking on mass disconnection of supply to government facilities,’’ he said.
Matane cautioned the AEDC against disconnecting power supply to the state’s Water Board and to hospitals as government would not tolerate such action.
“We will not tolerate disconnection of power supply to such important sectors as the state government had invested so much to ensure uninterrupted water supply and effective healthcare delivery.
“Why would the company deny such critical sectors power supply if not for sabotage?” he queried.
Source: https://energynewsafrica.com
Angola’s National Agency for Oil, Gas and Biofuels (ANPG) and Sierra Leone’s Petroleum Directorate have signed a historic cooperation agreement at the Angola Oil & Gas (AOG) 2022 Conference & Exhibition in Luanda.
This is with a view to establishing a shared commitment to promoting and intensifying collaboration across the oil and gas sector.
The MoU was signed by Paulino Jerónimo, President of the ANPG, and Foday Mansaray, Director General of Sierra Leone’s Petroleum Directorate.
The Memorandum of Understanding serves to outline opportunities for bilateral trade and investment; position oil and gas cooperation as mutually beneficial economically, technologically, socially and environmentally for both countries; and reaffirm stronger economic, cultural and social ties between Angola and Sierra Leone.
As the largest oil producer on the African continent, Angola has been on a path of fostering pan-African energy diplomacy, executing diplomatic visits to and signing a series of cooperation agreements with new and existing hydrocarbon producers across the region. These agreements have targeted policy alignment, knowledge sharing and enhanced trade and investment across energy and non-energy sectors like.
“The MoU signals new opportunities for bilateral cooperation across the trade, energy and economic sectors between Angola and Sierra Leone. We are proud to collaborate with the Petroleum Directorate and are excited for what lies ahead for both nations. With this agreement, we can enhance the very industries that will drive Africa into a new era of economic progress,” Paulino Jerónimo stated.
Sierra Leone, for its part, is seeking to advance in its nascent oil and gas sector, having launched a licensing round last May, offering over 63,000 square kilometers of highly prospective acreage.
The West African country is home to a working petroleum system that was supported by small-scale oil and gas discoveries, before exploration was put on pause around 2015/2016.
“This partnership with Angola is of uttermost importance as it creates and broadens opportunities for Sierra Leone to significantly expand its burgeoning oil and gas industry on the back of cooperation and regional trade. With recent discoveries in the country laying the foundation for robust sectoral growth, Sierra Leone is optimistic that it can create a competitive energy market, and this agreement serves to only enhance this agenda,” Foday Mansaray said.
One of the key components of the AOG 2022 agenda – which continues through Thursday as Angola’s premier energy event and investment platform – is exploring and advancing opportunities for regional synergies, as the country confronts a national mandate to diversify its economy, process more of its raw materials in-country and increase trade with its neighbors.
Source: https://energynewsafrica.com
The police in Uganda have arrested scores of people who have vandalised part of transmission towers belonging to the country’s power transmission company, UETCL.
The number of those arrested is, however, not known to this portal.
In a post sighted on the Twitter page of UETCL, it said police conducted operations in Kisenyi and surrounding areas where suspected vandals were arrested and transmission tower members were recovered.
“Let’s work together to put an end to vandalism,” the post concluded.
Some unidentified persons have been vandalising power installations of the Uganda Electricity Transmission Company Limited for some time now.
The sad development is costing the company huge sums of money.
It is not yet clear why Ugandan citizens are destroying power installations.
Source: https://energynewsafrica.com
The National Petroleum Authority (NPA) has directed Oil Marketing Companies (OMCs) in the Republic of Ghana to adjust the Unified Petroleum Price Fund (UPPF) and BOST Margins upward effective 1st December 2022.
Per the NPA’s directive, UPPF and BOST Margins are to be increased by 11 pesewas and 2 pesewas respectively.
This is expected to push the prices of petrol, diesel, kerosene, premix fuel, Marine Gas Oil, Gasoil Mines and Gasoil rigs.
“All Oil Marketing Companies and Liquefied Petroleum Gas Companies are to take note of the above review of the UPPF and BOST Margins and apply them in their Price Build-Up effective 1st December 2022,” a letter signed by Linda Asante, a deputy CEO of NPA, said.
Fuel prices shot up significantly with diesel selling at Gh23.45 while petrol sold at Gh¢18.99 in October.
However, prices have been dropping due to the stability of the Ghanaian cedi and the fall of crude oil prices on the international market.
As of Thursday morning, most of the oil marketing companies adjusted their pump prices with diesel selling at Gh18.86 while petrol is selling at Gh¢15.41 per litre.
The UPPF is used to support the efficient transportation of petroleum products around the country to ensure that price of the product are the same in every part of the country irrespective of the location.
BOST Margin is a tax imposed on petroleum products used to cover the maintenance and operating cost of petroleum product depots and undertaking expansion programmes at depots.
Source: https://energynewsafrica.com
Fuel prices at the pump have dropped significantly across the various filling stations in the Republic of Ghana, energynewsafrica.com can confirm.
A litre of petrol is now selling at Gh¢15.49 while diesel is selling at Gh¢18.86.
Previously, diesel sold at Gh¢19.77 while petrol sold at Gh¢16.26 per litre.
However, due to the fall in crude oil prices on the world market and the stability of the Ghanaian cedi Oil Marketing Companies have reviewed their pump prices downward.
As result, GOIL is now selling petrol at Gh¢15.41 per litre while diesel is sold at Gh¢18.86 per litre.
TotalEnergies is selling petrol at Gh¢15.40 per litre while diesel is sold at Gh¢18.85 per litre.
Shell is selling diesel at Gh¢ 18.99 per litre while petrol is sold at Gh¢15.49 per litre
Petrosol is selling diesel at Gh¢18.84 per litre while petrol is being sold at Gh¢15.39 per litre.
Star Oil is selling petrol at Gh¢14.88 per litre while diesel is sold at Gh¢18.69 per litre.
Zen petroleum is selling petrol at Gh14.99 per litre while diesel is sold at Gh18.99.
Puma is selling petrol at Gh¢15.29 while diesel is being sold at Gh¢18.49.
Source: https://energynewsafrica.com Source: https://energynewsafrica.com
A US-based Economic Professor and Currency expert at the Johns Hopkins University, Steve Hanke, has mocked Ghana over its proposed plan to use gold to purchase refined petroleum products.
He described the proposed policy announced by the West African nation’s Vice President as bogus.
Prof Hanke could not understand why the country wants to embark on something that can’t address the depreciation of the Ghanaian cedi.
Ghana’s Vice President, Dr Mahamudu Bawumia, last Thursday, posted on his official Facebook page that the Government of Ghana was making plans to use gold to buy oil products to address the cedi depreciation, which caused increases in fuel prices and economic hardships in the country.
“Government is negotiating a new policy regime where our gold (rather than our US dollar reserves) will be used to buy oil products.
“The barter of sustainably mined gold for oil is one of the most important economic policy changes in Ghana since independence. If we implement it as envisioned, it will fundamentally change our balance of payments and significantly reduce the persistent depreciation of our currency with its associated increases in fuel, electricity, water, transport, and food prices. This is because the exchange rate (spot or forward) will no longer directly enter the formula for the determination of fuel or utility prices since all the domestic sellers of fuel will no longer need foreign exchange to import oil products.
“The barter of gold for oil represents a major structural change,” he said.
Some civil society groups in the energy sector have expressed concerns over the issue, with some wondering about the feasibility of such a policy.
Some claimed they are yet to be engaged as stakeholders in the energy industry.
Reacting to the issue, Prof. Hanke wrote on Twitter that Ghana’s Vice President, Dr Bawumia, is grasping for straws.
“VP of Ghana Mahamudu Bawumia unveiled a plan to buy oil with gold instead of the USD. Bawumia claims that his gold-for-oil plan “will reduce the persistent depreciation of our currency.” Bawumia is grasping for straws. His plan is Bogus.”
VP of Ghana Mahamudu Bawumia unveiled a plan to buy oil with gold instead of the USD. Bawumia claims that his gold-for-oil plan will "reduce the persistent depreciation of our currency." Bawumia is grasping for straws. His plan is BOGUS. https://t.co/8x0lgU5Et1
PETROSOL Ghana Ltd, a leading Ghanaian Oil Marketing Company (OMC), was adjudged the Energy Company of the Year 2022 for the petroleum category at the 2022 edition of the Ghana Energy Awards held in Accra, the capital of Ghana.
The event had the Vice President, H.E Dr Mahamudu Bawumia, as the Special Guest of Honour, as well as the Deputy Minister for Energy, Dr Mohammed Amin Adam, and some ambassadors in attendance.
The Ghana Energy Awards annually recognises players in the energy sector who are demonstrating excellence in their operations.
According to Ing Henry Tenor, the Event Director of the Ghana Energy Awards, PETROSOL was selected for the award out of other major players nominated in recognition of the high quality of its petroleum products; its delivery of an accurate quantity of fuel to consumers; its commitment to environmental sustainability; its high level of professionalism as well as the jobs it has created for the youth across the country.
He indicated further that PETROSOL’s commitment to operating in line with best international practices was also a major factor, considering that the company has triple International Organisation for Standardisation (ISO) certification for Quality Management System; Environmental Management System; and Occupational Health and Safety Management System.
The Chief Executive Officer of PETROSOL, Michael Bozumbil expressed his delight at the recognition, especially coming from such highly respected energy sector awards organisers.
He dedicated the award to the cherished customers across the country who have demonstrated their confidence and loyalty to the PETROSOL brand over the years, as well as the dedicated dealers and staff whose hard work and commitment to duty have earned the company the award.
Mr Bozumbil was also grateful to the regulators, as well as other key stakeholders for their support over the years.
Mr Bozumbil further indicated that he and his team would not rest on their oars but remain focused on ensuring that they continue to deliver value for money to their customers and operate ethically through regulatory compliance and tax payment compliance.
PETROSOL, which operates several fuel stations across the country, has won several awards for its commitment to best industry practices.
It was recently congratulated by the Commissioner-General of the Ghana Revenue Authority for its tax compliance.
Source: https://energynewsafrica.com
The United States has urged caution in the European Union’s discussions of a price cap on Russian crude, saying that the lower prices that have been cited in recent days may be misleading.
Per a Reuters report, an unnamed U.S. official said that the price of $52 per barrel of Urals crude – Russia’s flagship blend – does not reflect the overall level at which Russian oil has been trading this year.
The official then went on to explain that over the past two months Urals crude had been trading at a discount of between $23 and $17 to Brent crude, meaning its price was higher than $52 per barrel.
Urals slipped to $52 a barrel last week, as Brent, WTI, and the other benchmarks also slid down on renewed concerns about Chinese oil demand.
The warning, however, may be interpreted as one directed towards three European Union members that insist on setting the cap much lower than the $65-$70 per barrel proposed by Washington.
Poland, Estonia, and Lithuania want the price for Russian crude to be capped at about $20 to $30 per barrel. That price point will hardly find any support among the rest of the European Union as it is Russia’s production cost for crude.
If the EU does not reach an agreement on the price cap, it will put into effect an embargo on all Russian maritime imports of crude from next Monday. This appears not to be what Washington wants because it would shrink the availability of Russian oil on global markets, and lead to higher prices.
Even if the EU agrees on the cap, the danger of lower oil supply remains and could even increase because Russia has stated it will not sell oil to countries enforcing the price cap.
Source: Oilprice.com
China is ready to work for a closer partnership with Russia in the energy sector, Chinese President Xi Jinping was quoted as saying on Tuesday, days before the EU embargo on seaborne imports of Russian crude oil and the G7-EU price cap on Russia’s oil are set to enter into force next week.
“Energy cooperation is an important cornerstone of practical cooperation between China and Russia, and also a positive force for maintaining global energy security,” Chinese news agency Xinhua quoted Xi as saying in a letter to a China-Russia Energy Business Forum.
“Xi also said the Chinese side stands ready to join hands with Russia to push for clean and green energy development, and safeguard international energy security and the stability of industrial and supply chains, thereby making new contributions to the long-term, healthy and sustainable development of the global energy market,” Xinhua reported.
China is now the biggest outlet for Russia’s crude oil after the Russian invasion of Ukraine and the EU bans and embargoes forced Moscow to re-route most of its crude exports to the biggest Asian buyers, China and India.
China’s energy imports from Russia, including coal, oil, and natural gas, have reached $60 billion since the Russian invasion of Ukraine, Bloomberg reported earlier this month, up from $35 billion in the same period of 2021.
China has become Russia’s biggest energy client alongside India, with both countries refusing to join the Western sanction push against Moscow and instead opting to continue doing business and forging closer political ties with Russia.
Reports have emerged in recent weeks that some Chinese buyers have become wary of purchasing spot Russian cargoes loading after December 5, waiting for details about the price cap and the potential consequences for buyers.
Still, China has no intention of joining any price cap mechanisms, and it is said to be demanding deep discounts from Russia for its crude.
Source: Oilprice.com
Ghanaian women in energy have gathered in Accra, the capital of Ghana, to deliberate on issues affecting gender equality in the energy sector and the role women can play in achieving energy transition.
The three days Women In Energy conference has attracted women in the West African nation’s public and private sector actors in both the power and petroleum sector to discuss ways and share ideas on how to increase women’s participation in the energy sector.
Under the theme: ‘Energy Transition: Prospects for Women in Energy’, the three-day conference will deliberate on topics such as ‘The Role of Women As Drivers of Change in the Energy Transition Process’, ‘Driving Women’s Readiness Towards Energy Transition and Prospects’, the Role of Internship & Mentoring in Energy Transition’, ‘Does the current Legal and Regulatory Regime Supports Energy Transition?’ Do we need new laws or amendments?’ ‘Role of women entrepreneurs in the energy transition and the Role of Women in Leadership in achieving energy transition’.
Speaking at the opening of the conference on Tuesday, Ghana’s Chief of Staff, Akosua Frema Osei Opare noted that for Ghana to achieve Sustainable Development Goal 7, which is to ensure access to affordable, reliable, sustainable and modern energy, would require active inclusion of women in all facets of the industry’s operations.
According to her, women represent 50.7 per cent of Ghana’s population and are important energy consumers due to their traditional role in household chores and the agri-food sector, therefore, stressing the need for women to be interested in clean cooking initiatives.
Touching on initiatives that have been pursued to promote gender parity, Madam Frema Osei Opare said successive governments have promoted Science, Technology, Engineering and Mathematics (STEM) education to allow students to acquire critical and independent thinking skills and become creative to solve problems.
Madam Akosua Frema Osei Opare noted that despite the energy sector being tagged as male-dominated, some corporate policies concerning equality inclusion and diversification create a happy workforce, and called on the few women in the industry, who are in leadership positions, to remain a shining example to others.
The Acting Chief Director at the Ministry of Energy, Mrs Wilhelmina Asamoah said she strongly believes Ghanaian women have a critical role to play in the exploitation of Ghana’s hydrocarbon resources, hydro, thermal and renewable just like their counterparts in advanced jurisdictions.
She said the three-day conference would provide an opportunity for women to share ideas, network and also within the current energy transition conversation, find the way forward in addressing issues in the energy sector.
Prof. Nana Ama Browne Klutse, an Associate Professor at the Department of Physics, University of Ghana, noted that a recent report by the International Energy Agency (IEA) showed that women who have jobs in the energy sector globally constitute only 22 per cent-23 per cent.
Prof. Ama Klutse described the figure as not encouraging and underscored the need for efforts to be made to encourage more girls to pursue Science, Technology, Engineering and Mathematics (STEM) education to be able to take up future jobs in the energy sector.
The CEO of VRA, CEO of Petroleum, MD of ECG, CEO of GRIDCo and Executive Secretary of Energy Commission delivered a statement on what their respective organisations are doing to promote women.
The organizers of the Women in Energy appreciated Dr. Cherub Antwi-Nsiah, a former Director for Gender and Social Inclusion at MiDA, Dr. Joyce Aryee, a Board Member of VRA and Madam Akosua Frema Osei Opare for their contributions towards women’s development in the country by presenting them with citations.
Source: https://energynewsafrica.com
The Transmission Company of Nigeria (TCN) has delivered 22 brand-new power transformers, spare parts and critical equipment to its Central Store in Ojo, Lagos, as part of efforts to boost power transmission in the area.
”As more of the equipment arrives at Lagos Port for onward delivery to the store for subsequent installation at various ongoing project sites across the country, some of the equipment would be kept in the store to serve as spares for future use,” TCN said in a statement signed by Mrs. Ndidi Mbah, Public Affairs Manager.
A large number of the equipment still in the store was recently inspected by members of the Governing Board of TCN and Management.
The massive and unprecedented stockpile of various kinds of transmission equipment presently is gradually being moved to project sites for maintenance, new projects and upgrading of existing transmission lines and substations.
The equipment, described as the highest of such in the company’s history, comprises 22 power transformers, haulage trucks, transmission switchyard spare parts and 45No. earthing transformers, suspension clamps, vibration dampers, armour rods, circuit breakers, current transformers, voltage transformers and 100 tons crane truck heads.
The Technical and Monitoring Committee of the Governing Board, led by the Committee Chairman, Nsima Ekere, visited the Ojo Store as part of their two-day visit to the Lagos Region where they inspected key power transmission substations as well as the Ojo Central Store.
After the equipment inspection, Mr Ekere lauded TCN for the record stock delivery to the store.
“We have seen loads of equipment that give me hope that the new dawn that we have been expecting to see at TCN is here. We saw about 30 forklifts, mobile transformers, reconditioning facilities, all kinds of things, the conductors, isolators, several other types of equipment and electric scaffold mobile scissors among others,” he said.
He continued that “all are to improve the capacity of TCN’s efficiency in doing their work. I am convinced that the transmission grid expansion project that TCN is presently executing is ongoing and I must also commend the World Bank and other donor agencies that are helping us with funding.”
Mr. Ekere said that with the massive stock at the TCN central store, the capacity of TCN to wheel power is being enhanced.
Speaking on the quantum of equipment in the Ojo Central Store, the Managing Director and Chief Executive Officer, Engr. Sule Ahmed Abdulaziz said that most of the equipment was procured for donor-funded projects supported by the World Bank, French Development Agency (AFD), and African Development Bank, among others.
Engr Abdulaziz noted that resources have been committed by Donor Agencies, assisting the transmission company in its grid expansion drive, the capacity of the transformers he said, ranges from 60MVA up to 150MVA.
Speaking further, he said: “We have not seen this level of the massive supply of materials in TCN stores in the past, purely for network expansion and maintenance. We have 150MVA transformers which are very massive and will eventually be connected to our 330kV circuit. We have 100MVA transformers, high-grade cranes and other equipment. It implies that the turnaround time to rectify faults when they occur and the downtime have been reduced.”
He mentioned other equipment delivered to the Lagos store to include circuit breakers, isolators, and aluminium conductors among others.
He added that the equipment is what TCN requires to ensure that the system becomes more stable.
With these, TCN can now ensure constant maintenance of the grid due to the availability of spares.
Also, expansion and promptly scheduled maintenance of the grid will ensure a more efficient and effective transportation of bulk electricity to distribution load centres nationwide for the benefit of Nigerians.
The projects, when completed, would further enhance the quality and stability of bulk supply as well as longer hours of power supply.
Source: https://energynewsafrica.com
The GRIDCo CEO said the company is fully aware of the input and impact of women being on its engineering and operations business and would, therefore, do everything possible to increase their numbers in the organisation.
He noted that at the inception of GRIDCo, there were a limited number of women who were involved in the core business of the company.
However, after fourteen years in operation, the number of female staff has changed significantly, and women are engaged in almost every sphere of GRIDCo’s operations.
The country’s energy sector, in the past, was male dominated but the last three decades have witnessed appreciable growth in the number of women permeating the sector.
Source: https://energynewsafrica.com 
Fuel prices shot up significantly with diesel selling at Gh23.45 while petrol sold at Gh¢18.99 in October.
However, prices have been dropping due to the stability of the Ghanaian cedi and the fall of crude oil prices on the international market.
As of Thursday morning, most of the oil marketing companies adjusted their pump prices with diesel selling at Gh18.86 while petrol is selling at Gh¢15.41 per litre.
The UPPF is used to support the efficient transportation of petroleum products around the country to ensure that price of the product are the same in every part of the country irrespective of the location.
BOST Margin is a tax imposed on petroleum products used to cover the maintenance and operating cost of petroleum product depots and undertaking expansion programmes at depots.
Source: https://energynewsafrica.com 
He indicated further that PETROSOL’s commitment to operating in line with best international practices was also a major factor, considering that the company has triple International Organisation for Standardisation (ISO) certification for Quality Management System; Environmental Management System; and Occupational Health and Safety Management System.
The Chief Executive Officer of PETROSOL, Michael Bozumbil expressed his delight at the recognition, especially coming from such highly respected energy sector awards organisers.
He dedicated the award to the cherished customers across the country who have demonstrated their confidence and loyalty to the PETROSOL brand over the years, as well as the dedicated dealers and staff whose hard work and commitment to duty have earned the company the award.
Mr Bozumbil was also grateful to the regulators, as well as other key stakeholders for their support over the years.
Mr Bozumbil further indicated that he and his team would not rest on their oars but remain focused on ensuring that they continue to deliver value for money to their customers and operate ethically through regulatory compliance and tax payment compliance.
PETROSOL, which operates several fuel stations across the country, has won several awards for its commitment to best industry practices.
It was recently congratulated by the Commissioner-General of the Ghana Revenue Authority for its tax compliance.
Source: https://energynewsafrica.com 
Speaking at the opening of the conference on Tuesday, Ghana’s Chief of Staff, Akosua Frema Osei Opare noted that for Ghana to achieve Sustainable Development Goal 7, which is to ensure access to affordable, reliable, sustainable and modern energy, would require active inclusion of women in all facets of the industry’s operations.
According to her, women represent 50.7 per cent of Ghana’s population and are important energy consumers due to their traditional role in household chores and the agri-food sector, therefore, stressing the need for women to be interested in clean cooking initiatives.
Touching on initiatives that have been pursued to promote gender parity, Madam Frema Osei Opare said successive governments have promoted Science, Technology, Engineering and Mathematics (STEM) education to allow students to acquire critical and independent thinking skills and become creative to solve problems.
Madam Akosua Frema Osei Opare noted that despite the energy sector being tagged as male-dominated, some corporate policies concerning equality inclusion and diversification create a happy workforce, and called on the few women in the industry, who are in leadership positions, to remain a shining example to others.
The Acting Chief Director at the Ministry of Energy, Mrs Wilhelmina Asamoah said she strongly believes Ghanaian women have a critical role to play in the exploitation of Ghana’s hydrocarbon resources, hydro, thermal and renewable just like their counterparts in advanced jurisdictions.
She said the three-day conference would provide an opportunity for women to share ideas, network and also within the current energy transition conversation, find the way forward in addressing issues in the energy sector.
Prof. Nana Ama Browne Klutse, an Associate Professor at the Department of Physics, University of Ghana, noted that a recent report by the International Energy Agency (IEA) showed that women who have jobs in the energy sector globally constitute only 22 per cent-23 per cent.
Prof. Ama Klutse described the figure as not encouraging and underscored the need for efforts to be made to encourage more girls to pursue Science, Technology, Engineering and Mathematics (STEM) education to be able to take up future jobs in the energy sector.
The CEO of VRA, CEO of Petroleum, MD of ECG, CEO of GRIDCo and Executive Secretary of Energy Commission delivered a statement on what their respective organisations are doing to promote women.
The organizers of the Women in Energy appreciated Dr. Cherub Antwi-Nsiah, a former Director for Gender and Social Inclusion at MiDA, Dr. Joyce Aryee, a Board Member of VRA and Madam Akosua Frema Osei Opare for their contributions towards women’s development in the country by presenting them with citations.
Source: https://energynewsafrica.com 
The equipment, described as the highest of such in the company’s history, comprises 22 power transformers, haulage trucks, transmission switchyard spare parts and 45No. earthing transformers, suspension clamps, vibration dampers, armour rods, circuit breakers, current transformers, voltage transformers and 100 tons crane truck heads.
The Technical and Monitoring Committee of the Governing Board, led by the Committee Chairman, Nsima Ekere, visited the Ojo Store as part of their two-day visit to the Lagos Region where they inspected key power transmission substations as well as the Ojo Central Store.
After the equipment inspection, Mr Ekere lauded TCN for the record stock delivery to the store.
“We have seen loads of equipment that give me hope that the new dawn that we have been expecting to see at TCN is here. We saw about 30 forklifts, mobile transformers, reconditioning facilities, all kinds of things, the conductors, isolators, several other types of equipment and electric scaffold mobile scissors among others,” he said.
He continued that “all are to improve the capacity of TCN’s efficiency in doing their work. I am convinced that the transmission grid expansion project that TCN is presently executing is ongoing and I must also commend the World Bank and other donor agencies that are helping us with funding.”
Mr. Ekere said that with the massive stock at the TCN central store, the capacity of TCN to wheel power is being enhanced.
Speaking on the quantum of equipment in the Ojo Central Store, the Managing Director and Chief Executive Officer, Engr. Sule Ahmed Abdulaziz said that most of the equipment was procured for donor-funded projects supported by the World Bank, French Development Agency (AFD), and African Development Bank, among others.
Engr Abdulaziz noted that resources have been committed by Donor Agencies, assisting the transmission company in its grid expansion drive, the capacity of the transformers he said, ranges from 60MVA up to 150MVA.
Speaking further, he said: “We have not seen this level of the massive supply of materials in TCN stores in the past, purely for network expansion and maintenance. We have 150MVA transformers which are very massive and will eventually be connected to our 330kV circuit. We have 100MVA transformers, high-grade cranes and other equipment. It implies that the turnaround time to rectify faults when they occur and the downtime have been reduced.”
He mentioned other equipment delivered to the Lagos store to include circuit breakers, isolators, and aluminium conductors among others.
He added that the equipment is what TCN requires to ensure that the system becomes more stable.
With these, TCN can now ensure constant maintenance of the grid due to the availability of spares.
Also, expansion and promptly scheduled maintenance of the grid will ensure a more efficient and effective transportation of bulk electricity to distribution load centres nationwide for the benefit of Nigerians.
The projects, when completed, would further enhance the quality and stability of bulk supply as well as longer hours of power supply.
Source: https://energynewsafrica.com