South Africa: Fuel Prices Expected To Drop In The New Year
South Africans are likely to witness a reduction in fuel prices by as much as R2.80 cents (US$0.16) in the New Year, according to the latest information from the Central Energy Fund.
The fund’s data shows that 95 unleaded petrol could be cut by R1.94 cents (US$0.11) in January, with 93 petrol due for an R1.95 cents (US$0.16) decrease, while diesel prices could enjoy steeper cuts of as much as R2.78 cents per litre.
Oil prices have been volatile, slumping in recent weeks in response to global fears of an economic slowdown but climbed again in the past few days over-optimism stoked by China’s relaxation of its zero-COVID policy.
In the longer term, it is thought that structural underinvestment in the new oil supply could lead to higher prices.
Fuel prices will rise as the local currency strengthens, which it has done slightly since last week.
Source: https://energynewsafrica.com
Ghana: NPA Supports Tamale Teaching Hospital Cancer Patients
The National Petroleum Authority (NPA) has donated GH¢100,000 to the Oncology Centre of the Tamale Teaching Hospital towards the treatment of cancer patients.
The amount is to fund the cost of surgery, chemotherapy and radiotherapy treatment of some of the breast, cervical, prostate and liver cancer patients.
A Deputy Chief Executive of NPA, Mrs Linda Asante, who donated on behalf of the NPA’s Chief Executive, Dr Mustapha Abdul-Hamid, at the hospital on Wednesday, said the gesture was to ease the burden on cancer patients at the Oncology Centre.
She said the support for the Centre was part of the corporate social responsibility (CSR) commitments of the NPA.
She indicated that the idea to support cancer patients was mooted by the NPA Ladies’ Association two years ago as part of its breast cancer awareness campaign.
The idea was embraced by the NPA’s Chief Executive, which culminated in the first donation of GH¢100,000 to the National Radiotherapy, Oncology and Nuclear Medicine Centre of the Korle Bu Teaching Hospital last year.
In his response, the Acting Chief Executive Officer of the Tamale Teaching Hospital, Dr Adam Atiku thanked the NPA for the donation as it would go a long way in footing the bills for the treatment of many cancer patients at the Oncology Centre.
He said the hospital had been recording increased cases of breast and cervical cancer in women, prostate cancer in men and liver cancer for both men and women.
He said breast cancer topped the chart of cancer cases and had become a burden on families and the hospital.
Dr Atiku expressed worry that cancer was the second or third leading cause of death among children, and indicated that cancer was curable when detected early.
Dr Atiku said the Oncology Centre receives more patients from neighbouring and Sahelian countries.
However, Dr. Atiku said the Oncology Centre does only surgery and chemotherapy and refers the radiotherapy cases to the Komfo Anokye Teaching Hospital and the Korle Bu Teaching Hospital due to the absence of radiotherapy machines.
Besides, he said the Centre does not have a mammogram for cancer diagnosis.
Dr. Atiku, therefore, appealed to corporate bodies to support the Oncology Centre to acquire radiotherapy machines and a mammogram.
The NPA team included the Director of Finance and President of the NPA Ladies’ Association, Mrs Ayi Zakariah, the Communication Manager, Mr Mohammed Abdul-Kudus, and the Manager of CSR, Ms Natasha Boakye.
Ghana: Breaking News: Presidency Stops TOR-Decimal Capital Ltd Partnership Deal
Ghana’s presidency has directed the Managing Director of the Tema Oil Refinery (TOR) and the Board to discontinue the ongoing negotiation with Decimal Capital Ltd, as a strategic partner for the country’s premier refinery.
Instead, the president wants the Managing Director and the Board to look for a new strategic partner.
Though it is not yet known why the presidency has directed the discontinuation of the deal, what energynewsafrica.com predicts could be the possible reason is the involvement of Mr Asante Berko in the deal.
Mr. Asante Berko was recently arrested in the UK over his alleged involvement with bribes paid to Ghanaian authorities to secure an energy contract for a Turkish company in Ghana when he was working at Goldman Sachs Group Inc.
Mr. Asante Berko, a former Managing Director of TOR, according to a report by this portal in June 2022, was leading Decimal Capital Ltd, a Kenya-based private limited liability company, to offer financial solutions to a wide variety of individuals and businesses to take over the operations of Tema Oil Refinery.
Before the official announcement by the management of TOR regarding their selection of Decimal Capital Ltd from among several companies as their strategic investor, Mr Asante Berko was holding meetings at the refinery with the Jerry Kofi Hinson-led management of TOR and some staff.
A statement issued by Tema Oil Refinery (TOR) on June 23, 2022, stated that Decimal Capital Ltd had been selected as the new strategic partner for TOR, confirming energynewsafrica.com’s publication.
According to the statement, the deal “was expected to boost the local supply of refined oil products and help stabilise the Ghana cedi, in the face of the ongoing international oil market crisis.
“A local Transactional Advisor has been contracted by TOR to lead the negotiations in formulating the lease agreement, which is expected to be completed over the next three to four weeks.
“The investment partner is expected to provide funding for a first phase, which will bring the Crude Distillation Unit (CDU) of TOR back on stream to refine about 45,000 barrels per day in the next few months,” parts of the release stated.
Meanwhile, some staff of the refinery are demanding that President make changes in the management and the Board to bring fresh ideas on board to turn the refinery around.
Source: https://energynewsafrica.com
Putin Inaugurates Siberian Natural Gas Field As Russia Targets Chinese Market
Russian President Vladimir Putin on Wednesday inaugurated the Kovykta natural gas field in eastern Siberia, located strategically to allow Russia to increase gas exports to China amid growing tensions between Moscow and the West.
The inauguration is the culmination of efforts that began about a decade ago to develop new fields and build the Power of Siberia pipeline to deliver to the rapidly expanding market.
“We are launching the unique Kovykta gas field, the largest in eastern Siberia. Its recoverable reserves are 1.8 trillion cubic meters of gas,” Putin said via video link during a televised ceremony.
Currently, Russia lacks pipelines to transport gas from its Western Siberian and Arctic gas fields that serve China and Europe.
The first Power of Siberia pipeline began to deliver gas from eastern Siberia to China at the end of 2019. It won’t be the last.
Moscow has laid out plans to build a Power of Siberia 2 pipeline as Russia increasingly turns to the Middle Kingdom in the face of heavy western sanctions.
China and India have become some of the biggest buyers of Russian oil and gas, with Bloomberg’s oil strategist Julian Lee revealing that Russia’s flagship Urals crude oil has been trading at a massive discount of more than per barrel $30, or about 40% to the international Brent crude oil, at the end of last week. In contrast, a year ago, Urals traded at a much smaller discount of $2.85 to Brent.
Urals is the main blend exported by Russia. Moscow is beginning to feel the heat of its war in Ukraine and could be losing $4 billion a month in energy revenues, as per Bloomberg’s calculations.
Supplies of Russian pipeline gas–the bulk of Europe’s gas imports before the Ukraine war–are down to a trickle and might be further impacted after a gas pipeline in central Russia that brings gas from Russia’s Arctic through Ukraine to Europe was shut down on Tuesday following a deadly blast.
Built in the 1980s, the pipeline enters Ukraine via the Sudzha metering point and currently is the main route for Russian gas to reach Europe.
Source:Oilprice.com
Ghana: ECG Krobo Office Educates Customers On Fake Meters
The Krobo Office of the Electricity Company of Ghana (ECG) Limited, in Somanya, Eastern Region, has embarked on a campaign against fake energy meters in a bid to protect customers from issues associated with the use of such meters.
The office has, for the past few weeks, displayed a number of these fake meters alongside the original ones on a notice board at the office where customers are constantly engaged and educated to become aware of the various types of fake meters in the system.
This campaign was necessitated when during routine monitoring exercises, it became apparent that several customers had fake meters installed at their premises.
“Customers are being continually scammed by vendors of fake meters who pose as ECG workers, approach potential customers and then eventually give them these fake meters,” said Ing Tetteh Apan, the Engineer in charge of the office.
He added that “customers are usually caught unawares by these vendors of fake meters which are made to seem like they are from ECG.”
He added that the nameplates of the meters are charged to often mimic that of the original meters.
Some of these fake meters work all right but as they are not part of the ECG system, customers would not often get bills.
However, once the meter is seen by the ECG, the total amount of energy it has consumed is determined and the user is billed accordingly.
The energy supply of the user is also cut off, and they are asked to report to the ECG office to start the process of acquiring a meter through the right process.
Given this, potential customers of ECG and the general public are encouraged to ignore such fake meters to avoid issues.
“Members of the general public have shown interest in this campaign by engaging ECG officials and asking for the differences between the fake and original meters, as well as what to do in case they chance on some. On this, they are told to inform ECG so the necessary punitive and corrective measures can be put in place.”
Monitoring and auditing of energy meters and other equipment are part of the core activities undertaken by the ECG.
These are done to ensure the integrity of ECG meters and to ensure that they are working as they should.
In instances where fake meters are seen, they are seized by officials of ECG.
Source: https://energynewsafrica.com
Ghana: Electricity Supply Restored To Bawku, Other Areas—NEDCo Announces
Electricity supply has been restored to the Bawku Municipality and other surrounding towns in Upper East that experienced a blackout last Monday.
According to NEDco, the power supply was restored at about 7:15 pm on Monday.
Bawku and several areas experienced blackout following a sporadic gunshot by feuding factions in Bawku that hit GRIDCo’s Zebilla-Bawku 161Kv transmission line.
The 161kV transmission tripped on earth, causing an outage to the Bawku Bulk Supply Point.
“Fault has been identified as broken conductor [on tower number 287 within Bawku town] as a result of a gunshot.
“The outage has affected supply to Bawku, Pusiga, Garu, Gamabaga, Nelerigu, Bunkprugu and their environs. Other affected areas include Bittou in Burkina Faso and Dapongo in Togo,” a statement from GRIDCo said.
Confirming the restoration of the power supply, Mr. Abaaba Alhassan, an Interim Head of Communication for NEDco, said his outfit and GRIDCo worked tirelessly to ensure that power was restored the same day.
Source: https://energynewsafrica.com
Ethiopia: Former Energy Commission Chair Participates In UN Conference On Electricity Markets In Africa
A former Chairman of the Energy Commission of Ghana, Dr. Kwame Ampofo, is currently in Addis Ababa, Ethiopia, and participating in the United Nations Economic Commission for Africa’s technical conference on a draft continental Regulatory Framework on how to attract private sector investments in Electricity Markets in Africa.
The two-day conference has brought together participants from across Africa, especially energy sector regulators.
At its December 2021 meeting, the AU Specialized Technical Committee on Transport, Transcontinental and Interregional Infrastructure and Energy requested ECA and AUC to develop a regulatory framework aimed at enhancing the influx of private investment in electricity markets in Africa.
A Draft Continental Regulatory Framework aimed at assisting member states to effectively address regulatory challenges to increase private sector investment in the energy sector has, therefore, been developed.
The framework has been developed in the context of the African Single Electricity Market (AfSEM) which seeks to promote energy integration and trade among member states.
The participants at the two-day conference have been discussing the framework and assessing country-specific cases on regulation and lessons to be learned.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com South Africa: Soldiers Deployed To Protect Eskom Power Stations
South Africa has deployed personnel of the country’s National Defense Force to protect Eskom’s power plants across the country.
At least a minimum of 10 soldiers have been deployed to each power station with priority being given to the tutuka, camden, majuba and grootvlei power stations.
This follows fears of sabotage as the country has been enduring stage 6 rolling blackouts for the past few days.
There are reports that some machines at different power stations have been deliberately damaged while some contractors have been supplying poor-quality coal which also damages the machines.
Speaking at the ANC’s 55th national conference in Nasrec, Presidential spokesperson Vincent Magwenga noted that the level of criminality taking place at power plants has left the president with no choice but to consider beefing-up security.
The spokesperson says the power utility has welcomed the intervention.
Source: https://energynewsafrica.com
Opinion: Independent Oil Companies Becoming Increasingly Larger Presence In Africa’s Oil And Gas Industry
By: NJ Ayuk, Executive Chairman, African Energy Chamber
It took less than 20 years for Somoil to become one of Angola’s largest private oil companies, but the company is hardly resting on its laurels.
Somoil, like many independents operating in Africa today, is moving forward with ambitious plans for continued growth.
Based on its current trajectory, Somoil’s chances of achieving its goals look good. The company operates three blocks with the capacity to produce as much as 50,000 barrels per day (bpd) of crude oil.
In April, Somoil and London-headquartered Sirius Petroleum entered a $336 million deal with Angolan national oil company Sonangol to acquire participating interests in Angolan Deep Water Blocks 18 and 31, which are operated by British multinational BP.
Somoil also acquired interests in Angola’s oil-producing Blocks 14 and 14K from TotalEnergies in 2022, and as CEO Edson dos Santos recently said, Somoil is very open to more partnerships and deals going forward.
“I believe Somoil is the ideal partner for any company entering the oil and gas business in Angola,” Dos Santos told The Energy Year. “We are private and relatively small, but more importantly – agile… with a clear plan to grow and expand our presence in Angola and beyond.”
Somoil is a fantastic success story, but it’s also a strong example of the gradually changing face of Africa’s oil and gas sector. Increasingly, international oil and gas majors have been divesting their African interests — many have been tweaking their portfolios in attempts to decrease their overall emissions — and independents have been stepping up to fill the gap.
Our new report, “The State of African Energy: 2023 Outlook,” describes this trend in detail, noting recent acquisitions — especially in West Africa — by such independents as Somoil, Nigeria-based Seplat Energy, and U.K.-based Afentra, among others.
As I’ve said in the past, the steady stream of international oil companies (IOCs) divesting African oil and gas assets is not a welcome development. Still, it has been encouraging to see how many independent companies have recognized this pattern as a huge growth opportunity. These independents will be well worth watching.
A Major Presence
To be clear, international majors like Italian energy company Eni, TotalEnergies of France, and U.S.-based ExxonMobil — along with the African national oil companies (NOCs) they frequently partner with — still have a considerable part to play in African oil and gas production. Together, they were responsible for nearly 75% of the continent’s hydrocarbon output during the last decade, our report notes. That likely won’t be changing overnight, or at least during the next year or two.
Independents, meanwhile, will probably continue to be responsible for about 8% of Africa’s overall oil volumes through 2023. Exploration and production (E&P) companies and international NOCs will contribute small percentages as well.
However, with the mergers and acquisitions (M&A) activity the continent’s oil and gas sector has been seeing, independents could very well be making a far greater contribution to Africa’s overall volumes as the decade continues.
African oil and gas industry M&A activity hit record levels in 2022, with $21 billion worth of deals announced in the first nine months of the year, Energy Capital & Power reported in late September. That’s three times the $7 billion in deals made in 2021 and four times the $5.5 billion worth of deals that took place in 2020, according to Rystad Energy.
Deal Drivers
Why the flurry of activity? As I mentioned, international oil and gas companies, driven by environmental, social, and corporate governance (ESG) objectives, are at least part of the equation. As a June 2022 article for McKinsey explains, majors around the globe are feeling pressure from the public and their investors to deliver higher returns more sustainably.
To comply, some are scaling back on exploration and production in Africa. ExxonMobil, for example, has been exiting its shelf water depth portfolio in Nigeria to decrease its high emissions oil and gas portfolio. Shell began talks with the Nigerian government in 2021 about selling its stake in the country’s onshore fields as part of a global drive to reduce its carbon emissions.
Other decisions are based on security concerns: Some majors, in hopes of making their operations less vulnerable to theft and vandalism, have been shifting their focus to deepwater and selling their shallow-water and onshore assets. And in other cases, majors have simply decided to sell mature fields to pursue more lucrative projects.
Large, international companies aren’t the only ones divesting assets in Africa, by the way. NOCs have been doing the same. During African Energy Week in Cape Town, Angola’s Sonangol, announced they are freeing up assets to allow them to focus on other priorities. Others, like Malaysia’s Petronas, have announced plans to divest some of their assets in Africa and Asia as part of global reorganization efforts.
Growing numbers of independents, meanwhile, have decided that the benefits of operating in Africa outweigh the risks. These companies are interested in capitalizing on higher oil and gas prices — along with increasing global energy demands — and they’ve been enthusiastically grabbing up the majors’ divested assets.
Some companies, looking for ways to remain resilient to market uncertainty as they pursue upstream opportunities, have been open to mergers and strategic partnerships. In mid-June 2022, for example, in an $827 million deal, the U.K.’s Tullow Oil signed an all-stock merger agreement with U.K.-based E&P company Capricorn Energy. The resulting new firm will own 1 billion barrels worth of resources and is expected to produce 100,000 bpd by 2025.
Seizing Opportunities
As for the independents acquiring assets from majors — and NOCs in some cases — many appear poised for long-term production success in Africa.
Earlier this month, British independent Savannah Energy announced it had entered a share purchase agreement (SPA) with Malaysian state oil and gas company Petronas International Corp. Ltd. to purchase Petronas’ entire oil and gas business in South Sudan for up to $1.25 billion.
Through the deal, Savannah will obtain interests in three joint operating companies (JOCs) that operate three blocks in South Sudan with a gross output of 153,000 bpd. The purchase is conditional on several conditions, including approval by South Sudan’s government.
As I said when the SPA was announced, this deal is a win-win for South Sudan and Savannah Energy, which has a strong presence in Africa’s oil and gas industry, a growing portfolio of renewable energy projects, and a track record of social impact programs that help promote economic self-sufficiency in host communities. Savannah Energy’s presence in South Sudan will provide the country with more jobs and business opportunities, sustainable energy development, opportunities for women, and an aggressive turnaround of declining fields.
Savannah’s announcement about South Sudan came only a week after it purchased ExxonMobil’s operations in Chad and Cameroon for $407 million. The deal includes ExxonMobil’s 40% stake in the Doba oil project in southern Chad, which comprises seven producing oilfields with a combined output of 28,000 bpd. Savannah also will obtain ExxonMobil’s 40% indirect interest in the Chad-Cameroon export transpiration system, which includes a pipeline and a floating storage and offloading facility offshore Cameroon.
Other promising deals by independents include Seplat Energy’s plans to acquire ExxonMobil’s shallow water business in Nigeria, Mobil Producing Nigeria Unlimited (MPNU), for $1.28 billion. Earlier this fall, the deal received a green light from Nigerian President Muhammadu Buhari.
Seplat is acquiring fields that produced 95,000 barrels of oil equivalent per day (boepd) in 2020 and are projected to bring Seplat’s total production up to 142,000 boepd once the deal is complete. Seplat Energy also will gain control of the Qua Iboe oil terminal and a 51% interest in the Bonny River oil terminal, along with natural-gas-to-liquids plants at two fields.
Also described in our report is U.K.-based Afentra, an independent that stands to do well in Africa while making a positive social impact. Last August, the company secured a 20% stake in Sonangol’s producing shallow water Block 3/05, Lower Congo Basin, 50 kilometers offshore Angola, as well as a 40% interest in Block 23 in the Kwanza basin. Around the same time, Afentra made it clear that it was interested in more West Africa purchases.
A small group of former Tullow Oil executives founded Afentra in 2021 specifically to capitalize on the opportunities being created by majors leaving West Africa. The company’s corporate strategy report, published that year, said the company would establish and meet high ESG standards.
“The Global Energy Transition will take time, the strategy report stated. Hydrocarbons are part of the transition and will continue to remain important in the overall energy mix… The socio-economic impact of the energy transition needs to be considered alongside the climate impact. Afentra was formed to deliver this balance and create significant value for shareholders.”
I applaud Afentra’s perspective and resolve.
And, I applaud the many other independents willing to invest in our continent. This is their moment, and their spirit, determination, and willingness to make a positive impact are just what our continent needs.
Our new report, “The State of African Energy: 2023 Outlook,” describes this trend in detail, noting recent acquisitions — especially in West Africa — by such independents as Somoil, Nigeria-based Seplat Energy, and U.K.-based Afentra, among others.
As I’ve said in the past, the steady stream of international oil companies (IOCs) divesting African oil and gas assets is not a welcome development. Still, it has been encouraging to see how many independent companies have recognized this pattern as a huge growth opportunity. These independents will be well worth watching.
A Major Presence
To be clear, international majors like Italian energy company Eni, TotalEnergies of France, and U.S.-based ExxonMobil — along with the African national oil companies (NOCs) they frequently partner with — still have a considerable part to play in African oil and gas production. Together, they were responsible for nearly 75% of the continent’s hydrocarbon output during the last decade, our report notes. That likely won’t be changing overnight, or at least during the next year or two.
Independents, meanwhile, will probably continue to be responsible for about 8% of Africa’s overall oil volumes through 2023. Exploration and production (E&P) companies and international NOCs will contribute small percentages as well.
However, with the mergers and acquisitions (M&A) activity the continent’s oil and gas sector has been seeing, independents could very well be making a far greater contribution to Africa’s overall volumes as the decade continues.
African oil and gas industry M&A activity hit record levels in 2022, with $21 billion worth of deals announced in the first nine months of the year, Energy Capital & Power reported in late September. That’s three times the $7 billion in deals made in 2021 and four times the $5.5 billion worth of deals that took place in 2020, according to Rystad Energy.
Deal Drivers
Why the flurry of activity? As I mentioned, international oil and gas companies, driven by environmental, social, and corporate governance (ESG) objectives, are at least part of the equation. As a June 2022 article for McKinsey explains, majors around the globe are feeling pressure from the public and their investors to deliver higher returns more sustainably.
To comply, some are scaling back on exploration and production in Africa. ExxonMobil, for example, has been exiting its shelf water depth portfolio in Nigeria to decrease its high emissions oil and gas portfolio. Shell began talks with the Nigerian government in 2021 about selling its stake in the country’s onshore fields as part of a global drive to reduce its carbon emissions.
Other decisions are based on security concerns: Some majors, in hopes of making their operations less vulnerable to theft and vandalism, have been shifting their focus to deepwater and selling their shallow-water and onshore assets. And in other cases, majors have simply decided to sell mature fields to pursue more lucrative projects.
Large, international companies aren’t the only ones divesting assets in Africa, by the way. NOCs have been doing the same. During African Energy Week in Cape Town, Angola’s Sonangol, announced they are freeing up assets to allow them to focus on other priorities. Others, like Malaysia’s Petronas, have announced plans to divest some of their assets in Africa and Asia as part of global reorganization efforts.
Growing numbers of independents, meanwhile, have decided that the benefits of operating in Africa outweigh the risks. These companies are interested in capitalizing on higher oil and gas prices — along with increasing global energy demands — and they’ve been enthusiastically grabbing up the majors’ divested assets.
Some companies, looking for ways to remain resilient to market uncertainty as they pursue upstream opportunities, have been open to mergers and strategic partnerships. In mid-June 2022, for example, in an $827 million deal, the U.K.’s Tullow Oil signed an all-stock merger agreement with U.K.-based E&P company Capricorn Energy. The resulting new firm will own 1 billion barrels worth of resources and is expected to produce 100,000 bpd by 2025.
Seizing Opportunities
As for the independents acquiring assets from majors — and NOCs in some cases — many appear poised for long-term production success in Africa.
Earlier this month, British independent Savannah Energy announced it had entered a share purchase agreement (SPA) with Malaysian state oil and gas company Petronas International Corp. Ltd. to purchase Petronas’ entire oil and gas business in South Sudan for up to $1.25 billion.
Through the deal, Savannah will obtain interests in three joint operating companies (JOCs) that operate three blocks in South Sudan with a gross output of 153,000 bpd. The purchase is conditional on several conditions, including approval by South Sudan’s government.
As I said when the SPA was announced, this deal is a win-win for South Sudan and Savannah Energy, which has a strong presence in Africa’s oil and gas industry, a growing portfolio of renewable energy projects, and a track record of social impact programs that help promote economic self-sufficiency in host communities. Savannah Energy’s presence in South Sudan will provide the country with more jobs and business opportunities, sustainable energy development, opportunities for women, and an aggressive turnaround of declining fields.
Savannah’s announcement about South Sudan came only a week after it purchased ExxonMobil’s operations in Chad and Cameroon for $407 million. The deal includes ExxonMobil’s 40% stake in the Doba oil project in southern Chad, which comprises seven producing oilfields with a combined output of 28,000 bpd. Savannah also will obtain ExxonMobil’s 40% indirect interest in the Chad-Cameroon export transpiration system, which includes a pipeline and a floating storage and offloading facility offshore Cameroon.
Other promising deals by independents include Seplat Energy’s plans to acquire ExxonMobil’s shallow water business in Nigeria, Mobil Producing Nigeria Unlimited (MPNU), for $1.28 billion. Earlier this fall, the deal received a green light from Nigerian President Muhammadu Buhari.
Seplat is acquiring fields that produced 95,000 barrels of oil equivalent per day (boepd) in 2020 and are projected to bring Seplat’s total production up to 142,000 boepd once the deal is complete. Seplat Energy also will gain control of the Qua Iboe oil terminal and a 51% interest in the Bonny River oil terminal, along with natural-gas-to-liquids plants at two fields.
Also described in our report is U.K.-based Afentra, an independent that stands to do well in Africa while making a positive social impact. Last August, the company secured a 20% stake in Sonangol’s producing shallow water Block 3/05, Lower Congo Basin, 50 kilometers offshore Angola, as well as a 40% interest in Block 23 in the Kwanza basin. Around the same time, Afentra made it clear that it was interested in more West Africa purchases.
A small group of former Tullow Oil executives founded Afentra in 2021 specifically to capitalize on the opportunities being created by majors leaving West Africa. The company’s corporate strategy report, published that year, said the company would establish and meet high ESG standards.
“The Global Energy Transition will take time, the strategy report stated. Hydrocarbons are part of the transition and will continue to remain important in the overall energy mix… The socio-economic impact of the energy transition needs to be considered alongside the climate impact. Afentra was formed to deliver this balance and create significant value for shareholders.”
I applaud Afentra’s perspective and resolve.
And, I applaud the many other independents willing to invest in our continent. This is their moment, and their spirit, determination, and willingness to make a positive impact are just what our continent needs.
Ghana: Tullow Donates 4,000 Bags Of Cement Towards Appiatse Reconstruction
Tullow Ghana Limited, the lead operator of Ghana’s Jubilee and TEN Oil Fields, has donated 4,000 bags of cement to the Appiatse Disaster Relief Committee to support the reconstruction of the mining community near Bogoso in the Western Region of Ghana.
The donation follows an explosion in the Appiatse Township in January 2022, leading to injuries, loss of lives and infrastructure.
The reconstruction project began on the 14th of September 2022 and would see the development of accommodation and critical community-wide infrastructures such as a health centre, market and other community spaces for the people.
Receiving the items on behalf of Appiatse, the Municipal Chief Executive for Prestea-Bogoso Municipality, Dr Isaac Dasmani lauded Tullow Ghana for the gesture and acknowledged that Tullow’s presentation was the largest in terms of building materials the committee had received.
Dr. Dasmani was very impressed that Tullow had decided to assist Appiatse, although its operations do not cover the area.
As a socially responsible organisation, Tullow Ghana was moved with compassion for the people of Appiatse following the disaster.
In line with its commitment to supporting the development of its host nations, Tullow Ghana donated to help the Appiatse Disaster Relief Committee in its efforts at rebuilding the Appiatse township.
Source: https://energynewsafrica.com
Ghana: BPA CEO Conferred With Honorary Doctorate Degree
The Chief Executive Officer of the Bui Power Authority, Samuel Kofi Ahiavi Dzamesi was, on Saturday, conferred with a Doctor of Professional Studies in Engineering by Azteca University, Mexico.
He was conferred with the doctorate award at a colourful ceremony in Accra, the capital of Ghana.
The ceremony, which was organised by MG Business Solutions and M-GIBES College, also saw some Ghanaians who have made significant contributions to the business environment receive Honorary Doctorates.
According to the university, Mr Samuel Kofi Dzamesi was nominated for the prestigious award due to his diligence and excellence in leadership and engineering brilliance in Ghana.
The award would serve as a recognition of the exemplary work done in the respective sectors Mr. Dzamesi has worked to date.
At the same event, Mr. Dzamesi was named the ‘Global Excellence Business Leader of the Year (Engineering)’.
This recognition would serve as a source of inspiration for aspiring professionals.
In his acceptance speech, Mr. Dzamesi thanked Azteca University and the event’s organisers for recognising the good contributions made by professionals from diverse fields.
The CEO was accompanied by his son, Mr. Eli Dzamesi, Board Members, Dr Rebecca Acquah-Arhin and Salifu Saeed, Mr. Kevin Wu and spouse and the Corporate Affairs Manager, Akua Sakyi.
The Board, Management and Staff of BPA congratulated Mr. Samuel Kofi Ahiavi Dzamesi on his award of an Honorary Doctorate.
Source: https://energynewsafrica.com
Ghana: Fuel Spillage At Maame Water Was Waste Fuel—BOST Clarifies
Ghana’s strategic stock keeping company, Bulk Oil Storage and Transportation Company, has allayed the fears of the public about the possibility of the company losing money due to a video capturing residents of Maame Water near Akosombo allegedly siphoning fuel from its pipeline.
According to BOST, the reported liquid was actually sludge consisting of water, dirt and fuel residue it had spilled during testing of the integrity of a pipeline being refurbished.
In a video sighted by this portal, residents of Maame Water were seen scooping fuel from an underground tunnel.
While some filled their gallons with fuel, others were heard calling out to get more gallons to fill them.
However, a statement from BOST has explained what occurred.
The company said its 71-kilometre pipeline which stretches from the Accra Plains Depot at Kpone in Tema to the Akosombo Depot at the banks of the Volta Lake had been decommissioned since 2015 due to vandalism by unknown assailants.
As a result, the company said it has since resorted to the use of Bulk Road Vehicle, popularly known as tankers in the haulage of petroleum products, from the Tema to Akosombo depots for onward transmission using badges to the Bui Depot.
BOST stated that repair works on the pipeline was commenced a year ago and was expected to be completed by the third quarter of 2022.
Unfortunately, the exercise delayed due to the impact of the construction of the railway line from Tema to Mpakadan in the Eastern Region, forcing them to re-route the pipeline.
As a further boost, the company said it commissioned the installation of an intrusion & leak detection system on the line for the safety and security of its operations when it is recommissioned.
“For a proper assessment of the degree of damage at the commencement of the repair works, water was pumped up the line to help with the full detection of all leakages for repairs.
“After the repair works, the company carried out a pressure testing of the line to be sure all the intrusions detected has been perfectly worked out. It is this pressure testing which resulted in the push out of a sludge in the Maame Water area which is been reported in the media. The sludge is a combination of water, dirt and fuel residue formed in the pipeline which was pushed out in the pressure testing,” the company explained in the statement.
The company emphasised that the tanks at the Maame Water depot have been empty over the last couple of years and BOST has not pumped products up the pipeline since the repair works are yet to be fully completed for a hand-over and recommissioning.
According to BOST, the exposed content of the line due to the testing has been foamed by the BOST team, with support from the Ghana National Fire Service and works are underway to ensure a clean-up of the area of the spillage.
The content with emphasis is water, dirt and fuel residue.
“We are satisfied with the level of work done and look forward to mending this single section of the 71-kilometre pipeline as we get ready to recommission it for utilisation by the first quarter of the year 2023.
“We wish to assure the public that the situation is under control and there are no financial cost implications of the said spillage since same was carried to check the integrity of the repaired pipeline.”
BOST said it would continue to serve the interest of the government and people of the Republic of Ghana by ensuring that the pipeline is put to use to reduce the cost of transportation of products in the country.
Source: https://energynewsafrica.com
Ghana: PURC, GIMPA Partner To Set Up Regulatory Centre Of Excellence
The Public Utilities Regulatory Commission (PURC) has signed a Memorandum of Understanding (MoU) with the Ghana Institute of Management and Public Administration (GIMPA) for the setting up of the Regulatory Centre of Excellence.
The MoU, signed on Friday at GIMPA, Accra, the capital of Ghana, was witnessed by Mr. Piesie Asante Darko, Council Chairman of GIMPA.
Executive Secretary of PURC, Dr Ishmael Ackah initialed on behalf of the Commission while Prof Samuel K. Bonsu, Rector of GIMPA, did the same on behalf of the institution.
Executive Secretary of PURC, Dr. Ishmael Ackah said the Commission through its research found that there was the need for them to do further studies to understand the dynamics of regulating utilities due to new technologies.
He added that they found out that there was the need to build the capacity of regulatory institutions in Ghana and the West African subregion for them to be abreast with the changing trend.
Touching on why PURC decided to partner GIMPA, Dr. Ishmael Ackah said his outfit noted that GIMPA has been undertaking research work in the area of regulation and therefore decided to partner them so they can bring their expertise in research and together with PURC’s technical expertise in regulation to achieve a common goal of cutting edge research that will inform policy on regulatory development and build capacity of regulators around Africa.
According to Dr Ackah, the Regulatory Centre will not only be used to build capacity of regulators in the energy sector but covers every sector of the economy that is regulated.
“Beyond even teaching we will also encourage peer learning so National Petroleum Authority (NPA) and others can also come here and groom other regulators. So it is the centre of excellence that is looking at General Regulations,” Dr Ishmael Ackah added.
Asked how the centre’s activities will be funded, Dr Ishmael Ackah said they are looking at four main funding sources stating that they are looking at funds from the Commission, GIMPA, fees and also donor support.
Dr Ackah revealed that the centre will be launched in February 2023.
Commenting on the partnership, Council chairman for GIMPA, Mr Piesie Asante Darko hailed the initiative and commended the PURC for enforcing rules and regulations covering utilities notably water and electricity.
Rector of Ghana Institute of Management and Public Administration (GIMPA), Professor Samuel K. Bonsu said he was happy that PURC was partnering his outfit to enable them use their store of knowledge to empower regulators in the country and beyond.
He said his outfit is fully committed to the partnership and will ensure that they do their best to ensure the successful operation of the Regulatory Centre of Excellence.
Source: https://energynewsafrica.com
Executive Secretary of PURC, Dr. Ishmael Ackah said the Commission through its research found that there was the need for them to do further studies to understand the dynamics of regulating utilities due to new technologies.
He added that they found out that there was the need to build the capacity of regulatory institutions in Ghana and the West African subregion for them to be abreast with the changing trend.
Touching on why PURC decided to partner GIMPA, Dr. Ishmael Ackah said his outfit noted that GIMPA has been undertaking research work in the area of regulation and therefore decided to partner them so they can bring their expertise in research and together with PURC’s technical expertise in regulation to achieve a common goal of cutting edge research that will inform policy on regulatory development and build capacity of regulators around Africa.
According to Dr Ackah, the Regulatory Centre will not only be used to build capacity of regulators in the energy sector but covers every sector of the economy that is regulated.
“Beyond even teaching we will also encourage peer learning so National Petroleum Authority (NPA) and others can also come here and groom other regulators. So it is the centre of excellence that is looking at General Regulations,” Dr Ishmael Ackah added.
Asked how the centre’s activities will be funded, Dr Ishmael Ackah said they are looking at four main funding sources stating that they are looking at funds from the Commission, GIMPA, fees and also donor support.
Dr Ackah revealed that the centre will be launched in February 2023.
Commenting on the partnership, Council chairman for GIMPA, Mr Piesie Asante Darko hailed the initiative and commended the PURC for enforcing rules and regulations covering utilities notably water and electricity.
Rector of Ghana Institute of Management and Public Administration (GIMPA), Professor Samuel K. Bonsu said he was happy that PURC was partnering his outfit to enable them use their store of knowledge to empower regulators in the country and beyond.
He said his outfit is fully committed to the partnership and will ensure that they do their best to ensure the successful operation of the Regulatory Centre of Excellence.
Source: https://energynewsafrica.com Ghana: NPA Impounds Gallons Of Illegal Fuel At Hamile
Ghana’s petroleum downstream regulator, National Petroleum Authority (NPA) has in collaboration with the army and security intelligence impounded a commercial vehicle loaded with illicit petroleum products in the Lambussie Karni District of the Upper West Region.
The products contained in jerry cans popularly known as “Kufuor Gallons” are suspected to be smuggled from the neighboring Burkina Faso.
The vehicle with registration number UW113-14, which was plying an unapproved route with the said unwholesome petroleum products on board, was impounded on Tuesday the December 13, 2022.
The vehicle and the products are currently in custody pending further investigations.
Speaking to the media, the Upper West Regional Manager of the NPA, Mr. Bashiru Natogma, cautioned petroleum consumers to desist from buying such smuggled petroleum products.
He said the only facilities authorized to sell petroleum products are the fuel filling stations.
Mr. Natogma urged commercial transport owners to caution their drivers against using their vehicles in transporting such illicit products “because it is illegal and also puts the lives of the public at risk.”
Source: https://energynewsafrica.com