Ghana: NPA Chases 150 OMCs Over GH¢122 Million Debts
Ghana’s petroleum downstream regulator, National Petroleum Authority (NPA), has served notice to over 150 Oil Marketing Companies (OMCs) who owe Primary Distribution Margin to the tune of Gh¢122 million (US$14,713,200) to settle before the 4th of August 2022 or face sanctions.
The Primary Distribution/Transmission Margin goes into a fund in which proceeds are used to offset costs incurred in moving products from the Bulk Oil Storage and Transportation Company Limited (BOST) receiving depot to other BOST depots across the country.
Per the law, payment of margins is to be made 45 days after lifting of products and defaulting OMCs are deactivated from loading.
However, records at the NPA show that the defaulting OMCs owe margins for products lifted between December 2021 and April 2022.
A public notice issued by the Corporate Affairs Department of the NPA said the Authority would initiate legal action to recover all outstanding debts against any OMC that failed to settle its debt by the deadline of 4th August 2022.
Source: https://energynewsafrica.com
Algeria: Eni Signs New Contract On Blocks 404-208
Italian oil and gas firm Eni signed a new Production Sharing Contract (PSC) agreement with SONATRACH, Oxy and TotalEnergies for oil blocks 404 and 208 in Algeria.
These blocks are located onshore in the prolific Berkine basin, in Eastern Algeria, an area where Eni has been present since the 80s.
The contract, signed under Algeria’s new hydrocarbon law of 2019, will allow the partners to boost investments, increasing the fields’ hydrocarbons reserves while extending their production life for further 25 years.
Furthermore, it will also enable future valorisation of significant quantities of associated gas which might become available for export, contributing to the diversification of gas supplies to Europe.
The agreed plan of activities will also include new technologies to improve the reserves recovery factor and reduce CO2 emissions through energy efficiency and decarbonizations projects.
Eni CEO, Claudio Descalzi, commented: “Through this new contract, additional volumes of gas will be made available for export and for the domestic market, coherent with Eni’s commitment to the energy transition. It also highlights the importance of the strategic partnership with SONATRACH, aimed at long term investments in Algeria to maximize asset value”.
Eni has been present in Algeria since 1981. With an equity production of 100,000 barrels of oil equivalent per day, Eni is the main international company in the country.
Source: https://energynewsafrica.com
Nigeria: Blackout Disappears As TCN Restores National Grid
Nigeria’s power transmission company, TCN, has restored the country’s national grid which experienced system disturbance at about 11.27am on Wednesday resulting in nationwide blackout.
According to a statement by its General Manager, Public Affairs Mrs. Ndidi Mbah, the incident was as a result of sudden drop in system frequency from 49.94Hz to 47.36Hz, which created system instability.
The statement further added that reports obtained from the National Control Centre (NCC) indicate that it was precipitated by the tripping of a Unit (with a load of 106 MW) in one of the generating stations due to “Exhaust over Temperature”.
“This unwholesome event, which pulled out other grid-connected Units in the plant, resulted in aggregated generation loss of 457MW. In its wake, a train of events ensued – culminating in the collapse of the national grid.
“As obtainable in all systems, when a component of the electric power system is defective, the entire configuration is vitiated. However, in spite of setbacks encountered at the initial stage, grid restoration had almost been completed as at 11:00pm when this report was filed.
“The Nigerian Electricity Supply Industry appreciates the kind understanding of Government and consumers of electricity within and outside the country. We are committed to leveraging the concerted interventions instituted thus far to enhance power supply reliability so that the issue of system collapse will soon become a thing of the past.
“Meanwhile, a full-scale investigation is being conducted to establish the cause of this failure,” the statement said.
Source: https://energynewsafrica.com
Ghana: Gov’t To Approve Vendor For NPG’s Nuclear Power Project
Ghana’s quest to become a nuclear power operator in 2030 has reached an advanced state as the country is expected to announce the preferred nuclear vendor country and technology for its nuclear power project by the end of 2022.
Given this, the West African nation’s Ministry of Energy has prepared a memo for the Cabinet to consider the appropriate technology for the country’s nuclear power project.
Speaking at the opening of a three-day workshop for selected media practitioners in Accra on the theme: ‘Nuclear Safety, A Public Fear and Concern’, the Executive Director of Nuclear Power Ghana (NPG), Dr. Stephen Yamoah, said his outfit has submitted a Report to the Energy Ministry and was hopeful the Ministry would submit a Memo to Cabinet as soon as possible for consideration and decision on the technology Ghana wants to adopt.
He said the country is on course as far as its nuclear power programme is concerned.
Dr. Yamoah said Ghana is at the 2nd Phase of the Nuclear Power Programme as per the requirements of the International Atomic Energy Agency (IAEA).
According to him, NPG has completed the ranking assessment of the four candidate sites it selected and would, in due course, settle on the preferred site based on seismicity and environmental condition of the location.
He, however, did not disclose which region the site is situated in but said due to the large volume of water required for the cooling of the plant activities, areas along the coast of the country are most preferred.
The Deputy Minister for Energy in charge of Power, Hon. William Owuraku Aidoo, said the Ministry of Energy has prepared a Memo on the Ghana Nuclear Power project and would, in the next couple of days, submit it to Cabinet.
He said the government is committed to executing the project “because it offers cheaper electricity and guarantees energy security for the country.
“Recently steps are being taken to finalise the selection of a preferred site to Ghana’s first nuclear power plant. Recently, Ghana issued a Request of Information (RFI) as part of the required processes to identify a vendor country and nuclear technology.”
“Currently, the RFI report is under review and government will soon announce a decision on vendor and technology”, Hon. Owuraku Aidoo said.
Dr. George Tettey, Deputy Chief Executive Officer of Bui Power Authority (BPA) in charge of Finance, who represented the CEO, said the Authority supports the nuclear power project.
The Director for Renewable Energy at Bui Power said Ghana needs reliable cheap power to industrialise.
He said the Government’s flagship industrialisation programme ‘1D1F’ can only strive “if we have cheap power.”
He, therefore, said Ghana’s nuclear power programme is in the right direction.
Source: https://energynewsafrica.com
Ghana: Accra High Court Orders Gov’t To Halt Payments To ENI, Vitol For Sankofa Gas
An Accra High Court in the Republic of Ghana has ordered the government of the West African nation to stop monthly payments to Eni Exploration and Production Ghana Limited and its Partner, Vitol Upstream Ghana Limited for gas supplied to the state from the Sankofa Oil Field.
According to a report filed by myjoyonline.com, the High Court (Commercial Division) at its sitting on Friday, granted a motion for an interlocutory injunction restraining the Government of Ghana from making further payments to the Italian oil giant and its partners.
“The order, issued on Friday, July 12, 2022, specifically restrained the Ghana National Petroleum Corporation (GNPC), Ministries of Energy and Finance as third parties, from making any payments, whether outstanding or recurrent to the two oil companies pending the determination of an application brought against the three state organs by Springfield Exploration and Production Limited, a wholly-owned Ghanaian Energy company,” the report said.
The court order follows a motion filed by the Ghanaian upstream player, Springfield E&P, on 20th June 2022 seeking the order by the court for GNPC, Ministry of Energy and Ministry of Finance to make all payments to the Registrar of the Court.
The action by the Ghanaian energy company is believed to be a sequel to an ongoing legal tussle that has seen Springfield win a judgment to preserve part of the proceeds from operations in the Sankofa Fields.
The court also ordered GNPC and the two ministries to file accounts of all payments they have made to Eni and Vitol since the day of service on them of the pending application for an order of payment of money due and owing to the defendants. This is to be carried out within 21 days beginning from 15th July 2022 and filed with the Court’s Registrar.
The court noted that the reliefs sought by Springfield were both prohibitive and mandatory injunctions, having demonstrated that it had a ruling for preservation in its favour which had not been stayed for purposes of execution. There is, therefore, a subsisting court order that it has the right to enforce and or protect through the process of law.
The trial Judge further noted that the Applicant (Springfield) had sufficiently demonstrated to the satisfaction of the court that there was a legal right worthy of the court’s protection.
“The application is, therefore, neither frivolous nor vexatious as there are serious questions that ought to be determined in the pending application,” it added.
In the opinion of the Court, Springfield had demonstrated that despite the order of interim preservation that was obtained against Eni and Vitol, they had, through the filing of various applications in various courts, frustrated the compliance and execution of the order of interim preservation.
“As if that is not enough, the resources which are alleged to be jointly owned by the Applicant and the Respondents are being dissipated by the Respondents on the blind side of the Applicant. The Respondents are further receiving payments monthly from third parties without accounting for same to the Applicant nor the court,” it further noted.
The government, in 2020, declared the Sankofa Field and Afina Well unitized through the Ministry of Energy and directed ENI and Springfield to commence the exchange of data with the view to unitizing the two areas to ensure optimization of the resource.
Since the directive, the two companies have failed to agree on the way forward. Whereas Eni rejects the idea saying it was a rushed decision, Springfield has been in court for the law to be enforced to the letter in line with the Petroleum laws of the country.
Source: https://energynewsafrica.com
Gambia: PURA Hosts Fiber Cuts Forum To Strategies Progress
The Gambia Public Utilities Regulatory Authority (PURA) with its stakeholders in the telecoms industry last Thursday held a day-long forum on frequent fiber cuts on the theme: improving the communication resilience of our ICT infrastructures.
The purpose of the workshop was for stakeholders to discuss and understand the root causes of the persistent fiber cuts in the telecom industry in The Gambia.
The Director General of PURA, Mr. Yusupha M. Jobe, disclosed that the workshop seeks to investigate and ascertain the root cause of frequent fiber cuts and suggest recommendations for optimization to curb this unfortunate situation.
It was also to establish the gravity of the impact when there is a single fiber cut, double fiber cut, and/or triple fiber cut. The causes of the fiber cut along the various corridors of the regions, to understand whether the occurrence was deliberate or accidental. Solicit the support of these key stakeholders in assisting to protect the existing or already deployed fiber infrastructure.
Mr. Jobe believes that the workshop with its outcome discussions, when implemented, will improve the general network and quality of service delivery of the various network operators in the country which are attributed to frequent fiber cuts as well as reduce their cost of operations, improve quality of service hence enhances customer satisfaction.
He said in the present day it is almost mandatory to be always connected to the ICT services. That includes your phone, internet, TVs, ATMs, Banks, Forex Bureaus, and other devices as they all connect to the internet, the World Wide Web.
According to Mr Jobe, when fiber-optic cables are cut or damage occurs, data and/or voice outrages take place. He states that this translates into losing internet connection, data storage, and even cell phone-based voice connection in certain areas or multiple areas.
He argues that: “Fiber-optic outages isolate people by slowing telecommunication and work-related activities nowadays amongst others. Having access to communication services can save a life in some emergencies.”
He informs that, recently there have been persistent fiber cuts by various activities, posing many challenges to the players in the industry and causing hardship in meeting the network quality expectation of their customers. He also discloses that a lot of fiber cut incidences increase the operational expenditure, declining revenue margins of the telecommunications /ICT service providers, and above all reduce the robustness of the fiber cable.
He announced that GAMTEL through the support of The Gambia government and the African Development Bank deployed a national fiber cable backbone infrastructure as part of the ECOWAS Wide Area Network project (ECOWAN). This, he further adds, over 1,000 kilometers of optical fiber network infrastructures were deployed across the length and breadth of the county in a bid to deliver high-standard quality networks that will satisfy and delight the needs of ICT customers countrywide.
The ICT sector, he states has been faced with several challenges both in the deployment and maintenance of the fiber cable infrastructure. He enumerates that, persistent fiber cuts have been the most significant challenging issue to deal with by the telecom companies in the industry in The Gambia today.
“The fiber cut is having a tremendous negative effect on quality-of-service delivery and customer experience. Besides these, other mandatory key performance indicators relative to industry standards such as availability, reliability, call set-up success rate, call congestion rate, call drop rate, as well as subscriber connectivity for both voice and data, are significantly impacted due to frequent fiber cut phenomenon,” he states.
Amie Njie-Joof, Permanent Secretary, Ministry of Communications and Digital Economy reveals that the event is timely considering the ongoing review of the IC Act 2009, which intends to strengthen laws dealing with fiber cuts that are quite critical to ICT infrastructure.
She commended PURA for the successful hosting of the event, saying that it demonstrates PURA’s commitment to effectively regulating the ICT sector.
She discloses that: “The Government of the Gambia has spent significant resources on the national fiber infrastructure. Therefore, its upkeep and effective utilization should be everyone’s concern.”
Source: https://energynewsafrica.com
Ghana, Niger Deepen Petroleum Trade Relations
Ghana’s petroleum downstream regulator, NPA, has met with Niger’s Ministry of Petroleum to discuss economic cooperation between the two West African nations.
Over the weekend, the Deputy Chief Executive of the National Petroleum Authority (NPA), Curtis Perry Okudzeto, led a delegation to pay a working visit to the Ministry of Petroleum of Niger.
The visit was part of the NPA’s vision to deepen the economic relationship between Ghana and Niger in the light of a growing trend in the export of gasoil and Aviation Turbine Fuel (ATK) from Ghana to Niger.
Currently, apart from the continuous increase in the supply of Ultra Low Sulphur Diesel (USLD) to Niger, ATK export from Ghana to Niger, which commenced in April this year, has seen an increase from a monthly average of 800,000 litres to about 1,500,000 litres as at June.
Mr. Okudzeto reiterated the need to facilitate a more robust relationship between the two countries, saying, “For us at NPA, our role as a regulator requires that we appreciate the dynamics of the industry and provide the necessary regulatory support for the growth of the industry.”
He added: “The growth, at this point, requires that we, as regulators from both sides, come together to streamline existing protocols to facilitate the export trade between the two countries and collaborate more to facilitate data sharing.”
Mr. Okudzeto expressed the NPA’s interest in discussing more business opportunities that could be exploited by players in both countries.
The discussion also centred around both countries sharing their experiences of how the impact of the global crisis is being managed in the petroleum sector, especially concerning fuel pricing and availability.
At the top of the agenda for the NPA delegation was how to map out strategies to enhance efficiency in export trade while instituting measures to combat the illegal malpractices in the trade.
In his subsequent interactions with the Management of the State Oil Company, Société Nigérienne des Produits Pétroliers (SONIDEP) and state refinery, Société De Raffinage De Zinder (SORAZ), Mr Okudzeto extended a special invitation to the institutions for a visit to Ghana to understudy some of the strategies the NPA had instituted which have contributed to making the NPA remain a dynamic and robust regulator.
He further noted that Ghana stood to benefit in sharing its experience and in partnering with the institutions to streamline their processes as it would ensure an efficient and reliable end-to-end monitoring regime between both countries.
The delegation also paid a courtesy call on Ghana’s Ambassador to Niger, H.E. Jonathan Magnussen.
The visit was to facilitate a working relationship with the Ghanaian officials at the Embassy through whom the NPA intends to continue to engage the Nigerienne Authorities even after the visit.
Source: https://energynewsafrica.com
At the top of the agenda for the NPA delegation was how to map out strategies to enhance efficiency in export trade while instituting measures to combat the illegal malpractices in the trade.
In his subsequent interactions with the Management of the State Oil Company, Société Nigérienne des Produits Pétroliers (SONIDEP) and state refinery, Société De Raffinage De Zinder (SORAZ), Mr Okudzeto extended a special invitation to the institutions for a visit to Ghana to understudy some of the strategies the NPA had instituted which have contributed to making the NPA remain a dynamic and robust regulator.
He further noted that Ghana stood to benefit in sharing its experience and in partnering with the institutions to streamline their processes as it would ensure an efficient and reliable end-to-end monitoring regime between both countries.
The delegation also paid a courtesy call on Ghana’s Ambassador to Niger, H.E. Jonathan Magnussen.
The visit was to facilitate a working relationship with the Ghanaian officials at the Embassy through whom the NPA intends to continue to engage the Nigerienne Authorities even after the visit.
Source: https://energynewsafrica.com Libya: El Feel Oil Field Resumes Production
Libya’s El Feel oilfield resumed production on Tuesday, according to Libya’s National Oil Corporation, after being shut down for nearly three months.
The initial capacity for El Feel is 40,000 barrels per day, according to NOC.
The 40,000 bpd rate has already been achieved today. When all the wells have been placed back into production, El Feel should return to its normal rate of 70,000 bpd. The El Feel field is operated in partnership with Italy’s Eni.
The El Feel oilfield was closed in mid-April as protests against Libya’s Prime Minister Abdul Hamid Dbeibah made it impossible to continue. Production from El Feel was disrupted in March after a “gang” led by Mohammed al-Bashir closed some valves, according to Argus. El Feel was also shut in for nearly a month starting in mid-December last year by the Petroleum Facilities Guard.
The return of a portion of Libya’s oil production comes at a critical time for the oil markets—and at a time when OPEC is failing to reach its production targets while the West prods the group to turn on the taps. The instability in Libya has caused the country’s crude oil production to fall to just 629,000 bpd as of June—the latest data available from OPEC, from the more than million barrels per day on average that Libya produced last year.
Libya also said on Tuesday that it would begin loading oil for export on Wednesday after the force majeure was lifted following the battle for control of the National Oil Corporation last week.
As of June 30th, Libya was exporting between 365,000 and 409,000 barrels per day—down from 865,000 bpd before the force majeure was declared in April, according to NOC data cited by S&P Platts.
Source:Oilprice.com
Ghana: Trinity Oil Introduces Quality Shield Lubricants To Boost Car Engine Performance
The rising cost of fuel across the world is making life unbearable for many people, especially owners of vehicles and commuters.
While fuel prices keep soaring due to the climate change agenda which has reduced investments in oil and gas, as well as the Russia-Ukraine war, prices of spare parts for vehicles have also been increasing due to exchange rate volatility, thus, compounding the problems of car owners.
In a bid to help car owners to save income amid the rising cost of fuel and spare parts, Trinity Oil Company has introduced to the Ghanaian market quality lubricants from Shield one of the best lubricant producers to boost engine performance.
Among the lubricants is Motor Cresol which is good for both diesel and petrol engines for commercial vehicles; Fleet Power Multi which enhances the performance of diesel engines and makes them last longer; Pro Gear SAE HD is recommended for buses and trucks under severe conditions; CNG Power which is good for gas engines; Performance Formula 4T, power booster for motorcycle and Pro ATF TQ helps the power steering perform better.
Speaking to energynewsafrica.com, the Executive Director of Trinity Oil Company Limited, Gabriel Kumi, said when it comes to automotive lubricants, people generally think of the engine oil and transmission fluid.
He said both reduce friction, therefore, fighting or delaying wear and tear.
He added that it also cleans and cools parts of the car, increasing fuel economy and extending the life of your engine.
“Now fake and substandard oils and lubricants lack the right additives or if you like ingredients to ensure that they perform these roles very well hence it causes more damage to the vehicle.
“It is the reason why we have brought onto the Ghanaian market a product recognised worldwide to be of top tier quality and standard and more importantly, one that is also reasonably priced. And I am talking here of Shield Lubricants.
“So people will not sacrifice quality on the altar of cost-effectiveness but with shield lubricants, they can have both and save their cars and the pockets too,” he explained.
Source: https://energynewsafrica.com
He said both reduce friction, therefore, fighting or delaying wear and tear.
He added that it also cleans and cools parts of the car, increasing fuel economy and extending the life of your engine.
“Now fake and substandard oils and lubricants lack the right additives or if you like ingredients to ensure that they perform these roles very well hence it causes more damage to the vehicle.
“It is the reason why we have brought onto the Ghanaian market a product recognised worldwide to be of top tier quality and standard and more importantly, one that is also reasonably priced. And I am talking here of Shield Lubricants.
“So people will not sacrifice quality on the altar of cost-effectiveness but with shield lubricants, they can have both and save their cars and the pockets too,” he explained.
Source: https://energynewsafrica.com Kenya: Fuel Prices Remain Unchanged As State Releases Sh16Billion Subsidy
Fuel prices will remain unchanged in Kenya until August 14, 2022, the Energy and Petroleum Regulatory Authority (EPRA) announced on Thursday.
EPRA said the government had released a Sh16.675 billion ($1,961,764.70) subsidy to further cushion Kenyans from the high fuel prices.
Petrol will now retail at Sh159.12 ($18.72), Kerosene at Sh127.94 ($15.05) and diesel retail at Sh140.00($16.47).
Without the subsidy prices would have increased to Sh193.64 for diesel, sh209.95 for petrol and Sh 181.13 for Kerosene.
Last month, EPRA announced a hike in fuel prices by Sh9 per litre.
The price change were effective from June 15 to July 14, 2022.
The Authority said the government will use the Petroleum Development Levy (PDL) to cushion customers from the high prices.
Source: https://energynewsafrica.com
South Africa: Eskom Sees Load Shedding Over By End Of This Week
Rolling power cuts in South Africa should come to an end by the end of this week as more power generation units come online, the chief executive of state power utility Eskom, Andre de Ruyter, said on Saturday.
Last month Eskom started implementing so-called “Stage 6” power cuts – or load shedding – for only the second time in its history, meaning most South Africans were without power for at least six hours a day.
The level of the outages has since been lowered, with Stage 2, 3 and 4 power cuts at different times this week.
Eskom has blamed the outages on striking workers hampering efforts to bring faulty generation units back online.
“Towards the end of the coming week, we should emerge from load shedding. We’ve already lifted our indication for load shedding going forward, we’ve got a couple of big units returning so that’s positive news,” De Ruyter told journalists.
He added that towards the end of July the risk would be significantly diminished once unit 2 of the Koeberg nuclear power station comes back onto the grid, which “is about 920 MW so that will bring large measure of relief.”
“But ultimately to put load shedding to bed, what we need is additional capacity because the system as it is at the moment is still unreliable and unpredictable,” de Ruyter said.
He was speaking at a brief news conference at Tutuka power station in Mpumalanga province after a site visit and meeting with President Cyril Ramaphosa, some ministers and managers of the plant for a progress report.
Ramaphosa said he’d meet other managers at another power station to get a closer insight of some of the problems and challenges they are facing.
“Having done so we’ll be able to come up with a number of proposals that can effectively deal with the challenges that the country faces when it comes to load shedding,” he also told reporters.
Eskom relies on an ageing coal fleet that is highly prone to faults. South Africa has faced intermittent power cuts for more than a decade that have hindered economic growth.
Source: https://energynewsafrica.com
Ghana: PURC Likely To Increase Electricity, Water Tariffs By 40%
The Public Utilities Regulatory Commission (PURC) is likely to announce an increment of between 35% and 40% for electricity and water tariffs barring any last minute changes.
The West African nation’s utilities regulator set 1st July 2022 to announce new tariff for water and electricity.
It, however, postponed the announcement of its tariff decision to 15 July, 2022.
Many were anticipating that the Commission will be announcing new tariffs on 15 July, 2022 as has been communicated to the public.
Unfortunately, the Commission on the 13 July, 2022 again postponed the announcement of new tariffs for electricity and water without indicating when it will announce the new tariffs.
During the last tariff increment in July 2019, electricity tariff went up by 11.17 % while water went up by 8.01%.
In an interview with the Executive Secretary of the Commission, Dr. Ishmael Ackah, he said the Commission identified a number of issues during the analysis and examination of the tariff proposals, which necessitated further deliberations and engagements with the utilities to ensure that such pertinent issues are addressed.
Dr. Ackah further stated that, the Commission has scheduled a meeting with the regulated utilities to afford them the opportunity of providing clarity and justifications for some of the figures quoted in their proposals, and to respond to some important issues raised during the tariff analysis.
Meanwhile, energynewsafrica.com’s sources indicate that the Commission which is answerable to President Akufo-Addo is awaiting the President’s response on the recommendation for electricity and water tariffs to be increased between 35% and 40 % before making announcement to the public
Source: https://energynewsafrica.com
South Africa: Sasol Outage Means All South African Oil Refineries Are Now Shut
South Africa’s largest fuel producer, Sasol has declared force majeure on the supply of petroleum products due to delays in deliveries of crude to the Natref refinery it owns with TotalEnergies, leaving just a fraction of the country’s fuel-production capacity still operational.
Natref, a 108,000 barrel-a-day plant, was forced to shut down after the late oil shipments, the company said in a statement.
“Sasol Oil will not be in a position to fully meet its commitments on the supply of all petroleum products from July 2022,” the firm said.
The shutdown means the whole of South Africa’s oil-refinery fleet is out of action after a string of other facilities suspended production over the past two years. As a result, the country’s monthly petroleum product imports are set to as much as triple by next year from pre-pandemic levels, energy consultant Citac said in a May report.
Only Sasol’s synthetic fuel operations, which use coal as a feedstock, remain fully operational, making up about a fifth of nationwide capacity.
A fire at the Engen oil refinery, which will be converted into a terminal, and an explosion at Glencore’s Cape Town refinery, have rapidly curbed capacity.
Sapref, the country’s biggest plant, which is owned by Shell Plc. and BP Plc., stopped operations ahead of a sale and was subsequently damaged by floods. State-owned PetroSA’s gas-to-liquids plant, another synthetic operation, has run out of feedstock.
Meanwhile, a clean-fuels policy that’s set to take effect next year raises the likelihood that refineries unable to meet the new standards will have to shut permanently.
For now, the outage at Natref is temporary. Crude oil shipments are expected to start arriving shortly, with the plant expected to ramp up to maximum production by the end of July, Sasol said. The partners have yet to conclude options on the future of the plant, Sasol Chief Executive Officer Fleetwood Grobler said earlier this year.
The Cape Town refinery is also expected to restart in the second half of 2022.
Ghana: Fuel Prices Drop Marginally
Fuel prices at the pump have witnessed marginal drop in the Republic of Ghana, following the fall of crude price on the international market.
Leading oil marketing companies GOIL and TotalEnergies have adjusted their pump prices downward to reflect drop in crude oil prices.
As at Monday morning, GOIL had adjusted Diesel XP price downward from Gh¢13.91 per litre to Gh¢13.63 per litre representing 28 pesewas reduction.
Petrol (Super XP) saw a downward reduction from Gh¢11.41 per litre to Gh¢11.30 per litre.
TotalEnergies adjusted diesel price downward from Gh¢14.59 per litre to Gh¢13.99 per litre while petrol price was adjusted downward from Gh¢11.59 per litre to Gh¢11.30 per litre.
It is likely some other OMCs will adjust their pump prices this week.
Crude oil prices have been falling since the beginning of July.
Last Wednesday, Brent crude took a nose dive falling below $100 per barrel.
It, however, jumped to $102.1 per barrel on Friday, 15 July 2022.
As at 9:00AM Monday, Brent Crude was trading at $103.9 per barrel.
Source: https://energynewsafrica.com
Crude oil prices have been falling since the beginning of July.
Last Wednesday, Brent crude took a nose dive falling below $100 per barrel.
It, however, jumped to $102.1 per barrel on Friday, 15 July 2022.
As at 9:00AM Monday, Brent Crude was trading at $103.9 per barrel.
Source: https://energynewsafrica.com