The construction work on Dangote Refinery, Africa’s largest refinery, is 100 per cent completed.
The facility is owned by Africa’s richest man Aliko Dangote.
According to a report filed by The Will, Friday, the refinery is currently on text run ahead of official commissioning in 2023.
“Production is projected to begin in the first quarter of 2023,” a senior executive at the company said as quoted by THE WILL on Friday, adding that the refinery is being tested run.
The 650,000-barrel-per-day refinery located in Lekki Free Zone is expected to be the world’s biggest single-train facility upon commissioning.
Estimated to cost about $20 billion, the refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene and will likely generate 4,000 direct and 145,000 indirect jobs.
The refinery is expected to save Africa’s most populous nation, Nigeria, about $10 billion in foreign exchange.
During a visit to the refinery recently, Minister for Finance, Budget and National Planning, Zainab Ahmed, said the huge investment by Dangote Group would enable Nigeria to stop the importation of fuel.
“This is a very important project one of the largest refineries in the world today. Mr President is very proud of this project and we speak about it everywhere we go in terms of the number of jobs which it is creating and the good that it will be bringing to our economy.
“And for us in government, that is a saving of at least $10bn that will be sitting in our reserves instead of flying out to pay for petroleum products.
“In the Ministry of Finance, Budget and National Planning, we have had the opportunity to interface with your company (Dangote Group) at different times to provide you with some clearance you required as you bring in equipment and as you move from one step to another, and I used to be alarmed at some of the size of the requests. But now, I do understand that this is very big and it is very important for this country.”
Source: https://energynewsafrica.com
The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, has, for the second time, emerged as the best ‘Public Sector Chief Executive Officer for the year 2022′ at the Ghana Business Awards held in Accra, the capital of Ghana.
It will be recalled that the NPA’s CEO was adjudged for the same award in 2021 for his sterling leadership, achievement, business excellence and professionalism at the Ghana CEO Excellence awards held earlier this year.
The ceremony, which sought to celebrate the achievements of individuals and companies who have distinguished themselves in the sector in the year under review, also saw the NPA receiving excellence in Corporate Social Responsibility of the year.
Organised by Globe Productions Limited, the award ceremony has, since its inception in 2018, rewarded excellence and standards in the business sector.
This year’s awards had Mr Charles Abani, Resident Coordinator of the United Nations and the Spanish Ambassador to Ghana, His Excellency Javier Gutierrez as Guests of Honour.
Speaking at the awards ceremony, the CEO of Globe Productions, Latif Abubakar, said the winners were selected by an independent advisory board that evaluated the awardees based on criteria listed for each category.
He explained that the benchmarks for shortlisted winners’ performance were based on some key performance indicators (KPIs) in the standards of excellence.
Many petroleum downstream watchers believe Dr Abdul-Hamid, since he was appointed the Chief Executive of NPA, taken bold steps which have sanitised the downstream petroleum industry by enforcing the industry regulations for a level playing field.
This assertion was affirmed by the Chief Executive Officer (CEO) of Petrosol Ghana Limited, Michael Bozumbil, in a recent interview published by energynewsafrica.com.
Source: https://energynewsafrica.com
Ghana’s power transmission company (GRIDCo), on Friday, climaxed a week-long safety awareness week with the presentation of awards to staff and departments which emerged winners for various activities instituted by management to test their level of knowledge regarding safety and fitness.
The activities which were outlined for the annual safety awareness and health week included Safety Quiz, Tree Planting Exercise and Safety Walk also known as GRID Walk.
The Safety Quiz was in two categories namely Technical and Non-Technical.
For the technical category, the Akosombo area emerged first while the Techiman area and the Prestea area emerged second and third respectively.
For the non-technical category, the Audit Department emerged first while the System Operations secured the second position.
Over 40 staff of the company who undertook training in Occupational Safety Health and Administration were also presented with certificates.
This year’s safety awareness week was on the theme: ‘Act together to build a positive safety and health culture.
Speaking at a durbar at the head office of GRIDCo in Tema, Friday, the Chief Executive Officer of GRIDCo, Ing Ebenezer Kofi Essienyi indicated that “safety Week Celebrations reminds us of our individual and collective responsibility to remain in good health and to collectively act in a manner that promotes a safety culture which inevitably keeps the business operating for the benefit of all.”
He, therefore, encouraged the staff to strive to know GRIDCo’s safety rules and abide by them, follow safety procedures and learn to use safety equipment such as fire extinguishers and other equipment that can be lifesaving and respect the safety controls which are in place to protect life and GRIDCo’s facilities.
“Compliance with these Safety Principles is key due to the nature of GRIDCo’s operations and business which involve construction activities to extend or upgrade the network as well as regular maintenance of assets. These duties need to be carried out with the utmost regard to sound safety practices.”
Ing. Essienyi said management would do its best to ensure that GRIDCo creates and sustains a health and safety culture by providing the needed tools, equipment and training to meet the mandate stated under our Core values.
He noted that the COVID-19 virus is still hovering around and urged the staff not to forget to respect safety protocols such as hand washing, the use of hand sanitisers and getting checked for any ill health.
“I want to urge all of us to initiate steps that will guarantee our general well-being, health and safety by doing a checkup at least once a year,” he advised.
On his part, the Director for Technical Services, Ing Bernard Gyan commended the management for prioritising the safety of staff by supplying 1,200 overall and 790 gloves to staff under the Framework Agreement for the supply of safety tools and equipment to staff for the company’s operations.
Ing. Ebenezer Kofi Essienyi, CEO of GRIDCo
Investment in renewables must more than triple to $1.3 trillion annually by 2030 if the world is to reach net-zero emissions by 2050, the International Energy Agency (IEA) said on Thursday.
Previously, the agency had estimated that clean energy would need $1 trillion in annual investment to reach the climate goals.
In the World Energy Outlook 2022 published today, the IEA said that electricity generation from renewables needs to see one of the largest increases in investment in the Net Zero Emissions (NZE) Scenario, rising from $390 billion in recent years to $1.3 trillion by 2030. This level of annual spending in 2030 would be equal to the highest level ever spent on fossil fuel supply, $1.3 trillion spent on fossil fuels in 2014, the IEA said.
Concerns about fuel prices, energy security, and emissions – bolstered by stronger policy support – are brightening the prospects for many low emissions fuels, the IEA said.
Clean energy investment is massive today, but it needs to rise much more if the world has a chance to get to net zero by 2050.
“A huge increase in energy investment is essential to reduce the risks of future price spikes and volatility, and to get on track for net zero emissions by 2050,” the IEA said.
“Governments should take the lead and provide strong strategic direction, but the investments required are far beyond the reaches of public finance. It is vital to harness the vast resources of markets and incentivize private actors to play their part,” the agency noted.
Today, for every $1 spent globally on fossil fuels, $1.5 is spent on clean energy technologies. Under the NZE Scenario, every $1 spent on fossil fuels needs to be outmatched by $5 spent on clean energy supply and another $4 on efficiency and end uses by 2030.
“Shortfalls in clean energy investment are largest in emerging and developing economies, a worrying signal given their rapid projected growth in demand for energy services. If China is excluded, then the amount being invested in clean energy each year in emerging and developing economies has remained flat since the Paris Agreement was concluded in 2015,” the IEA said.
Source: Oilprice.com
The European Union has finalized an agreement to phase out internal combustion engine cars by 2035 by enforcing a zero-emission regulation on carmakers in the bloc.
National government negotiators, the European Parliament, and the European Commission all agreed to make car makers reduce their emissions to zero by 2035, which is an effective ban on the sales of fossil-fuel-powered vehicles after that year.
“This deal is good news for car drivers… new zero-emission cars will become cheaper, making them more affordable and more accessible to everyone,” Jan Huitema, chief negotiator for the European Parliament said.
The EU’s lead on the Green Deal, Frans Timmermans, also welcomed the news, saying “Europe is embracing the shift to zero-emission mobility,” as quoted by Reuters.
The proposal for the ban of internal combustion engine vehicles across the European Union was made earlier this year and drew criticism from the car manufacturing industry.
The head of the German car industry association, Hildegard Mueller, said in June, when the proposal was first made, that Europe’s charging infrastructure is insufficiently developed for the EV targets the shift would entail. She also warned that the Commission, which made the proposal, was acting prematurely.
Besides such concerns, however, there are even more direct ones that will in all likelihood interfere with the zero-emission plans of the EU. Chief among them is an expected shortage of copper, which is used heavily in electric vehicles.
The world is already short on the basic metal and the deficit is only set to widen in the coming years as there is no new supply coming on stream soon, aside from a few mine expansions.
Battery technology is also a potential challenge—with raw materials getting costlier due to strong demand and catching up supply, battery costs continue keeping total EV costs higher than ICE car costs, too, discouraging drivers from making the switch.
Source:Oilprice.com
The Executive Director of the Institute for Energy Policies Research (INSTEPR) in the Republic of Ghana, Kwadwo Nsafoah Poku, has expressed worry about the continuous depreciation of the Ghanaian cedi which is pushing prices of diesel and petrol upwards barely every two weeks in the Republic of Ghana.
Although crude oil prices have been hovering below $95 per barrel on the international market over the last month, the continuous depreciation of the Ghanaian cedi has pushed a litre of diesel to Gh15.99 and petrol at Gh¢13.10 per litre.
Sharing his opinion about the rising fuel prices and the continuous depreciation of the Ghanaian cedi against the major international currencies, Mr. Kwadwo Poku wrote: “We started the week with Gh10.45 to $$ on Monday. By Friday evening, some people were quoting GHc15 to $$. This means the cedi lost 1 cedi value daily. This situation is unprecedented. As I drove home on Friday from a meeting, I got the news that the oil companies are having difficulty pricing their products because they don’t know what forward $$ rate to use.
“I don’t want to scare you, but based on what happened last week, the fuel price will be Ghc20 cedis in the next window. If PURC is to review electricity, we will all have to pay 2x what we are paying today because in the last review they used Ghc7.45 to $$.
“If nothing is done to reverse the cedi from depreciating further, we will start Monday at Ghc15.42 cedis to $$. Do not let anyone tell you it’s speculation and not real. If the banks and Bank of Ghana have $$ for the oil companies, they will not go to the black market to buy the expensive speculated price,” he said.
Below is Kwadwo Poku’s pieceCAN WE SURVIVE ANOTHER WEEK LIKE THE LAST?
Most Ghanaians went through last week as if it was an ordinary week. Some people discussed the economic situation as usual at work, in the trotro and at the evening hang out. Seeing fuel price at Ghc15.99 was hard for everyone but as steadfast as we are, we took it in our strides.
We started the week with Gh10.45 to $$ on Monday. By Friday evening some people were quoting GHc15 to $$. This means the cedi lost 1 cedis value daily. This situation is unprecedented. As I drove home on Friday from a meeting, I got the news that the oil companies are having difficulty pricing their products because they don’t know what forward $$ rate to use.
I don’t want to scare you, but based on what has happened last week, fuel price will be Ghc 20 cedis in the next window. If PURC is to review electricity, we will all have to pay 2x what we are paying today because last review they used Ghc7.45 to $$.
If nothing is done to reverse the cedis from depreciating further, we will start Monday at Ghc15.42 cedis to $$. Do not let anyone tell you its speculation and not real. If the banks and Bank of Ghana has $$ for the oil companies, they will not go to the black market to buy the expensive speculated price.
Do you think we can go through this week losing 1 cedis a day as we did last week?? It’s not about God so let’s not say let’s pray.
The Banks, BDCs, OMC will not survive another week if what happened last week repeats itself. This scenario will translate differently to all of us. We can only survive this week to the next if something changes.
What is that change? Am only the energy expert.
Thanks
Kwadwo Nsafoah Poku
Director of INSTEPR
With the next COP27 set to be hosted in Africa and under a different scenario to previous editions – oil, gas and nuclear has returned to the scene as crucial for global energy security and for ensuring stable economic growth – a ministerial panel discussion during African Energy Week (AEW) 2022 emphasized the need for a unified message regarding the energy transition, one that will be taken from AEW in Cape Town to COP27 in Egypt.
Moderated by Mohamed Fouad, Founder and CEO, Egypt Oil & Gas, high-level speakers included H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbon, Equatorial Guinea; H.E. Sophie Gladima, Minister of Petroleum and Energies, Senegal; H.E Mahamane Sani Mahamadou, Minister, Ministry of Petroleum of Niger; NJ Ayuk, Executive Chairman, African Energy Chamber; and Hon. Dr. Matthew Opoku Prempeh, Minister for Energy, Republic of Ghana.
Kicking off the session, H.E Tarek El-Molla, Minister of Petroleum and Mineral Resources, Egypt delivered a keynote presentation, stating that, “This year, COP27 represents an opportunity to articulate Africa’s priorities to reducing emissions, accessing appropriate funding and addressing climate repercussions. We cannot deny that oil and gas represent an essential resource globally and will remain part of the energy mix for the long term. Our goal is to provide these resources more responsibly. I am optimistic about the Egyptian and African efforts to collaborate on a just energy transition in Africa.”
Thereafter, the panel discussion kicked off to an electric start, with speakers emphasizing the need to face COP27 with common positions on how the energy transition should look like for the continent in the near future in order to improve intra-continental cooperation and investment with the goal of eliminating energy poverty. During the discussion, insight was given as to whether an African just energy transition can be compatible with a global energy transition and whether or not the continent will be able to speak with one voice at COP27.
“Every single Minister of oil and gas in Africa finally speaks with the same voice. It will be very important if we have a united voice. We have worked with APPO and the AU and the parties going to Egypt. In Egypt, they will hear loud and clear our position on the energy transition and regarding energy security, those are our priorities,” stated H.E. Minister Lima, adding that, “We should be talking about energy security. Once we achieve this, then we should start talking about energy transition.”
Expanding on what H.E. Minister Lima shared, H.E. Minister Gladima stated that, “I think that during this week we have discussed at length the future of Africa. The main issue that we all agree on is funding. Funding has been cut, and even though we have a gas-to-power strategy, the funding continues to be cut. This planet has given us natural resources and we have to exploit them. But we need to exploit them in a responsible manner and ensure that we do not make the same mistakes others have done in the past. Let us use our oil and gas and have the chance to grow. Ministers of energy must go and convince the ministers of environment. We need to decide together and find a way that is for the good of Africa.”
Meanwhile, panelists discussed what priorities need to be established for the continent and what a victory in Egypt would look like for Africa.
“I do not want to talk in terms of victory, but in terms of responsibility and rights. I will be an irresponsible leader to sell my country on the altar of energy transition without talking about the significance of energy security or energy access or without talking about energy affordability. The ministers of energy have been meeting, building and developing a consensus. We should not allow ourselves to be divided between environment and development,” stated Ghana’s Minister for Energy Dr. Matthew Opoku Prempeh, adding that, “We are going to COP to tell everyone our responsibility as leaders. First, to the people who elected us and who we have accepted to govern. If we talk about the energy transition, we will talk about using what God has given us to use. We will continue to exploit our reserves for the socioeconomic development of the country.”
Thereafter, the conversation shifted to the role and position of international oil companies (IOC), with H.E. Minister Mahamadou stating “When it comes to IOCs, the same way that African countries and ministers have to stay united and speak with one voice, IOCs have to join that single narrative that we share. When it comes to Niger, we have three IOCs active, so we are working closely with them to ensure the full potential of the oil and gas is exploited,” adding that, “When it comes to the environment, in Niger, 80% of the population lives in rural areas. They rely on biomass and have to do damage to the environment. The way we proceed is we provide them with access to clean cooking and prevent the damage being done to the environment.”
Finally, the need for a consolidated message was further emphasized, with Ayuk stating that, “Drill baby drill: that should be Africa’s message to the world. If you want to solve energy poverty, gas baby gas. Europe wants to call gas green: it has always been green. If it is green gas for Europe, why is it not green gas for Africa? We can do better if we tone down the rhetoric that energy producers are evil people or bad people. We need to go to COP27, backing up our energy producers. We should not be apologizing for our energy sector. That is the message we should
Source: https://energynewsafrica.com
The Ghana National Gas Company (GNGC) has cut sod for the construction of a multi-purpose community center at Kpalbe in the North East Gonja District of the Savannah Region.
The community center, which formed part of the company’s Corporate Social Responsibility, will feature a seating capacity of 130 people, restrooms and a borehole to serve the community.
Speaking at the ceremony, Nana Owusu Ansah Ababio, Board Member of Ghana Gas, said the company’s community development initiatives do not benefit only the project-affected communities but also other underprivileged communities across the country that require the company’s aid.
He also stated that when the multi-purpose community center is completed, it would have a great impact on the town. He, thus, pleaded with residents to take excellent care of the project once it is completed.
Mr Francis Augustus Badu, Manager, Community Relations and CSR, reiterated that Ghana Gas would continue to support underprivileged communities throughout the country through corporate social responsibility (CSR) programmes.
Alhassan Abdallah Iddi, Member of Parliament for North Salaga Constituency, was happy that Ghana Gas had sent such a project to his region because it would be of great importance to the people and nearby towns when completed.
Mohammed Musah Tindawu, District Chief Executive of North East Gonja District, assured Ghana Gas that he would do everything in his ability to ensure that the project was built successfully and adequately maintained after completion.
Source: https://energynewsafrica.com
The Chief Executive Officer of PETROSOL Ghana Ltd, one of the indigenous oil marketing companies in the Republic of Ghana, Michael Bozumbil, has indicated that job opportunities abound in Africa’s energy sector.
He has, therefore, charged the youth to prepare themselves to take advantage of them.
According to Mr Bozumbil, “The energy sector is changing in form but not in substance.”
In this regard, he said the world would always need energy and that it is the type of energy that might change from time.
He went further to encourage those desiring to build careers in the energy sector not to be frightened by the news about energy transition and end up staying away from pursuing careers in the energy sector.
He encouraged the youth to develop an even greater interest in the sector because of its enormous growth potential.
Mr Bozumbil was addressing the youth, mostly students of tertiary institutions at the China Europe International Business School (CEIBS) in Accra during this year’s Energy Career Seminar, organised by the Energy Quest Foundation, to create awareness and interest in the energy sector among the youth.
The theme for this year’s event, which was the second edition, was: ‘Energy Career Planning and Opportunity’.
According to Mr Bozumbil, with over 40 per cent of Africa’s population not having access to electricity, it presents itself as a great energy market with enormous investment and job creation opportunities for the youth of Africa.
This is particularly so because Africa is a continent with abundant energy sources, including renewable energy.
He, thus, entreated the youth to view discussions about energy transition as great news and deploy their creative abilities in addressing the energy needs of Africa to make it a better continent to live in.
He again indicated that even with the advent of electric vehicles, fossil fuels or petroleum products would continue to form a major part of the energy mix of Africa over the next three decades.
He, therefore, asked the youth who would be working in the petroleum sector to have an energy industry-wide mindset and build transferable skills that would enable them to transit well into the emerging energy segments.
Mr Bozumbil went further to educate the youth to appreciate that the energy industry is not restricted to engineers or technicians but demands varied expertise including finance, health and safety, human resource, logistics,
economics, among others and thus urged the youth to look out for such opportunities.
He encouraged them to be ready to start at the base by taking up low-level jobs and learning the rudiments to build the required capacity for enduring careers.
Mr Bozumbil said PETROSOL, which is a leading ISO-certified privately-owned Ghanaian oil marketing company has, over the years, provided opportunities for young graduates of tertiary institutions to be trained, absorbed as staff and provided on-the-job coaching and most of them are performing excellently leading to the growth of the business.
He, therefore, said PETROSOL’s doors are always open to provide such opportunities for the youth provided they possessed PETROSOL’s core values and the required work ethics as well as are ready to humble themselves and go through fieldwork.
An internship opportunity was given to three participants who arrived on time at the event.
Fuel prices have shot up significantly in the Republic of Ghana with diesel also selling 20 cedis per litre, energynewsafrica.com. can report.
As of Wednesday, October 26, 2022, Petrosol and Engen have all adjusted their pump prices.
Engen adjusted its pump price of Super (petrol) to Gh¢17.54(US$1.21) with diesel selling Gh¢19.94(US$1.38) per litre.
Petrosol one of the indigenous oil marketing company has also adjusted its pump price for petrol to Gh¢17.48 (US$1.21) per litre while diesel is sold at Gh¢19.89(US$1.37) per litre.
Pacific adjusted diesel price to Gh¢19.87 per litre
More details soon.
Source: https://energynewsafrica.com
Ghana’s state’s largest power generation company, Volta River Authority (VRA), has hinted that it will commence controlled spillage of water from the Akosombo and Kpong Dams in the next few days.
The move is due to the consistent rainfall and consequent rise in the level of water in the Akosombo reservoir.
“As of Tuesday, October 25, 2022, the reservoir elevation stood at 273.70 feet and is expected to reach the maximum operating level of 276 feet in the next week or two if the current rate of inflow continues,” a statement issued by the Corporate Affairs & External Relations Unit of VRA said.
According to VRA, it has duly notified its stakeholders of the intended spillage in line with its Emergency Preparedness Plan and Standard Operating Procedures.
The Authority cautioned residents, especially farmers along the Volta River and downstream of the dams, to be on high alert.
“The VRA will continue to monitor the situation, work with our key stakeholders and issue regular updates to ensure a prompt response to any emergency that may arise,” VRA said.
Source: https://energynewsafrica.com
It is too expensive for governments to help everyone with their soaring energy bills, the World Bank has warned.
The bank’s president said Covid support schemes had not been targeted enough towards the most vulnerable and the debt will take decades to pay off.
David Malpass told the BBC the same policy was being adopted to help people cope with rising energy bills.
“Governments are saying we will take care of everyone, which is just too expensive,” he said.
It is pushing global debt to record levels and people at the bottom of the income scale are hardest hit, he said.
It comes as separate research suggests the UK’s own energy support scheme is far too expensive in its current form.
The government is limiting average bills for households using a typical amount of energy to £2,500 a year for six months, but will review the support offered from April.
The National Institute of Economic and Social Research said the current scheme could cost some £30bn because it was untargeted.
It also said households could save up to £20bn per year if they were incentivised to invest in energy-saving measures like solar panels.
During the pandemic governments borrowed billions of pounds to get through lockdowns.
They paid for job retention schemes like furlough, increased benefit payments and loans and grants for business that were forced to close.
Mr Malpass told the BBC’s World Service there was an accepted economic view that there should be a social safety net, some protection for people during a crisis.
The subsidies should be temporary and targeted to those who need them most, he said.
But Mr Malpass said many of the Covid subsidies were not targeted. “They went to everyone…and now the consequences are coming home.
“People will be left for years and even decades paying for that debt,” he added.
The Institute of International Finance reports that global debt topped $305 trillion earlier in the year and is expected to increase further.
The war in Ukraine is causing energy prices to spike. Across Europe, governments have introduced energy subsidies to help households pay for rising prices.
The World Bank expects energy prices to decline by 11% next year after a 60% surge this year, following Russia’s invasion of Ukraine.
In its latest Commodity Markets Outlook, the bank predicted an average Brent crude oil price of $92 per barrel next year. However, that is still well above the five-year average of $60.
The energy crisis comes at a time when governments have already run up large amounts of debt.
Mr. Malpass said he was concerned that the additional help for people will push inflation – the measure of rising prices – even higher.
In the UK inflation is at a 40-year high of 10.1%.
The International Monetary Fund expects global inflation to peak this year at 9.5% and says it will not begin to fall until 2024. It’s causing many low income countries to default on loan repayments and pushing vulnerable people into poverty.
Source:BBC
Europe has more natural gas than it knows what to do with. So much, in fact, that spot prices briefly went negative earlier this week.
For months, officials have warned of an energy crisis this winter as Russia — once the region’s biggest supplier of natural gas — slashed supplies in retaliation for sanctions Europe imposed over its invasion of Ukraine.
Now, EU gas storage facilities areclose to full, tankers carrying liquefied natural gas (LNG) are lining up at ports, unable to unload their cargoes, and prices are tumbling.
The price of benchmark European natural gas futures has dropped 20% since last Thursday, and by more than 70% since hitting a record high in late August.
On Monday, Dutch gas spot prices for delivery within an hour—which reflect real time European market conditions — dipped below €0, according to data from the Intercontinental Exchange.
Prices turned negative because of an“oversupplied grid,” Tomas Marzec-Manser, head of gas analytics at the Independent Commodity Intelligence Services (ICIS), told CNN Business.
It is a hugely surprising turn of events for Europe, where households and businesses have been clobbered by eye-watering rises in the price ofone of its most important energy sources over the past year.
Massimo Di Odoardo, vice president of gas and LNG research at Wood Mackenzie, says unseasonably mild weather is largely responsible for the dramatic change in fortune.
“In countries like Italy, Spain, France, we’re seeing temperatures and[gas] consumption closer to August and early September [levels],” he told CNN Business. “Even in countries in the Nordics, the UK and Germany, consumption is way below the average for this time of the year,” he added.
The European Union has also built substantial buffers against any further supply cuts by filling gas storage facilities close to capacity. Stores are now almost 94% full, according to data from Gas Infrastructure Europe. That’swell above the 80% target the bloc set countries to reach by November.
Source:CNN
Transport operators in the Republic of Ghana have announced a 19 per cent increment in transport fares effective, Saturday, 29th October, 2022.
This means that passengers would be paying more for transport amid rising food prices, both of which have triggered groanings among Ghanaians on social media platforms.
The new transport fares come after the Transport Unions met with President Akufo-Addo over an earlier intention to increase fares by 40 per cent.
The latest increase, according to the GPRTU, has become necessary according to the union due to the continuous hike in fuel prices.
Currently, a litre of diesel is sold at Gh15.99 while petrol is sold at Gh¢13.10 per litre.
Source: https://energynewsafrica.com
This year’s awards had Mr Charles Abani, Resident Coordinator of the United Nations and the Spanish Ambassador to Ghana, His Excellency Javier Gutierrez as Guests of Honour.
Speaking at the awards ceremony, the CEO of Globe Productions, Latif Abubakar, said the winners were selected by an independent advisory board that evaluated the awardees based on criteria listed for each category.
He explained that the benchmarks for shortlisted winners’ performance were based on some key performance indicators (KPIs) in the standards of excellence.
Many petroleum downstream watchers believe Dr Abdul-Hamid, since he was appointed the Chief Executive of NPA, taken bold steps which have sanitised the downstream petroleum industry by enforcing the industry regulations for a level playing field.
This assertion was affirmed by the Chief Executive Officer (CEO) of Petrosol Ghana Limited, Michael Bozumbil, in a recent interview published by energynewsafrica.com.
Source: https://energynewsafrica.com 
Mr Francis Augustus Badu, Manager, Community Relations and CSR, reiterated that Ghana Gas would continue to support underprivileged communities throughout the country through corporate social responsibility (CSR) programmes.
Alhassan Abdallah Iddi, Member of Parliament for North Salaga Constituency, was happy that Ghana Gas had sent such a project to his region because it would be of great importance to the people and nearby towns when completed.
Mohammed Musah Tindawu, District Chief Executive of North East Gonja District, assured Ghana Gas that he would do everything in his ability to ensure that the project was built successfully and adequately maintained after completion.
Source: https://energynewsafrica.com 
Petrosol one of the indigenous oil marketing company has also adjusted its pump price for petrol to Gh¢17.48 (US$1.21) per litre while diesel is sold at Gh¢19.89(US$1.37) per litre.
Pacific adjusted diesel price to Gh¢19.87 per litre
More details soon.
Source: https://energynewsafrica.com 