Ghana: Omicron To Drive Fuel Prices Down In December-IES

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Fuel prices are expected to drop by three to five per cent in December, the Institute for Energy Security (IES) has predicted. The Energy Think Tank had earlier projected that petrol price would hit GHS7.0 per litre by end of the year, anticipating an increase in demand in the winter, coupled with low global supply would trigger an increment. However, IES has argued that the outbreak of the new Omicron variant of COVID-19 had led to a decrease in demand in Europe, leading to a decline in fuel prices on the global market. “We initially projected an increment because even the opening of strategic oil reserves by the US Alliance failed to bring oil costs down as expected. “But we are seeing a drop in oil prices, and that is a result of the new variant of the coronavirus. If the trend continues, then we project prices to drop by three to five per cent in December,” Mr Fritz Moses, a Research Analyst at the IES said. As at Tuesday morning, Brent crude was selling at US$71.20 while West Texas Intermediate (WTI) US$68.14

 

 

Source: https://energynewsafrica.com

 

 

Wärtsilä Reaches 7GW Installed Power Capacity Milestone In Africa

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With over 600 power plants commissioned in 46 African countries, Wärtsilä confirms its position as a leading provider of power generation solutions in the continent The technology group Wärtsilä first began its Africa operations in Tanzania back in 1975. Since then, the group has delivered more than 600 installations, supplied power plants in 46 countries, generating 25% of the national electricity supply in over 25 countries. Total installed capacity now exceeds 7.4 GW of which one-third is covered by operation and maintenance contracts. Today, Wärtsilä is the undisputed leader in the medium-speed power engine market in Africa. This strong track record, built up over decades, has its roots in a dedicated local presence combined with the capability to bring together international expertise to build groundbreaking energy solutions. Wärtsilä’s Industry Firsts in Africa With more than 650 employees and service hubs located in Kenya, South Africa, and Senegal, Wärtsilä is proud to have contributed to many industry firsts. These include Africa’s largest gas engine power plant on the Kribi coast of Cameroon with 216MW capacity, as well as Africa’s highest installation, the 175 MW power plant in Sasolburg, South Africa, sitting at 1,700 meters above sea level. Another first, the KivuWatt power plant in Rwanda, is the first ever power plant to use the naturally occurring methane from lake Kivu to generate electricity and reduce the environmental risks associated with such high concentrations of gas. Today’s power output is 25 MW but future planned expansions to this project will increase capacity by an additional 75 MW. Wärtsilä’s reciprocating gas engine technology and innovative energy management systems play an important role in response to Africa’s growing demand for flexible and reliable electricity. Small to medium size projects can be used to establish microgrids in remote regions. Their flexibility means that they can work hand in hand with renewable energy resources. Output can be ramped up at the same rate as wind or solar output fluctuates. One example is the 15 MWp hybrid engine-solar PV power plant for the Essakane gold mine in Burkina Faso: The combination of low-cost renewables with flexible engine solutions enables energy intensive industries to enter an era of more cost efficient and climate friendly operations. Africa’s Future, Beyond Energy No single project is the same. As a leading international EPC (Engineering, Procurement and Construction) company, Wärtsilä has a history of providing unique power solutions to meet the specific challenges of its clients as well as to extend educational and economic benefits to local communities when delivering on projects such as Tasiast in Mauritania and Ndola in Zambia “For Wärtsilä, EPC also means Experience, Proven and Compliant. These projects have helped several nations accelerate their development and increase their standard of living, not to forget the many jobs created accross the continent. At the heart of each project is local engagement, training and transmission.“, said Fabien Cadaut, Marketing & Communications Manager, Africa, Wärtsilä Energy. This is why Wärtsilä has proudly joined forces with Ambitious.Africa, an initiative working to connect the youth of African and Nordic countries, to foster upcoming talent and co-create a more equal and sustainable future. Through this association, Wärtsilä can actively connect students, entrepreneurs, start-ups, financiers, and other stakeholders from across two continents and provide them with the knowledge, skills and training they need to bring about real and lasting change. As another example, Wärtsilä provides local institutions in Senegal with hands-on training and support for talented students often struggling to find their place in working life, as part of its corporate social responsibility efforts. Another recent contribution was made in support of solar energy unit installations in informal settlements in the Western Cape. The households in these settlements are either connected to an illegal and unsafe electricity source or have no access to basic electricity. As recent contracts such as the 120 MW power plant project in Gabon, the 90 MW gas conversion project in Senegal, and renewed O&M contracts in Nigeria demonstrate, Wärtsilä is committed to accelerate broad-based electrification across Africa.   Source: https://energynewsafrica.com

Energy Community Meets To Advance Off-Grid Renewables In Pursuit Of SDGs And Climate Goals

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Organised by the International Renewable Energy Agency (IRENA), the fifth edition of the International Off-grid Renewable Energy Conference (IOREC) will take place virtually next week from 7 to 9 December 2021. This year’s IOREC will shed light on the urgency to accelerate electrification efforts underscoring the specific opportunity off-grid renewable energy solutions offer in achieving universal access to energy, the 2030 agenda for Sustainable Development and climate goals during this critical decade of action. While the number of people without access to electricity declined from 1.2 billion in 2010 to 759 million in 2019, under current plans and policies 660 million people will still live without access to energy in 2030. According to IRENA’s World Energy Transitions Outlook report, off-grid renewables still represent only one per cent of the overall finance for projects to expand energy access, despite growth in annual financing commitments from USD 6 million in 2008 to around USD 460 million in 2019. Policies for and investments in off-grid renewable energy are seen as central to a just and inclusive energy transition that supports the achievement of both socioeconomic and global climate ambitions. “Off-grid renewables are a fundamental component of the energy transition and a pillar of sustainable development,” said Francesco La Camera, Director-General of IRENA. “Global efforts to tackle the effects of the COVID-19 pandemic have served as an unsettling example of the consequences of an energy system defined by inequities and centralised models of generation. The next period of global development will be based on an energy system that is fundamentally different. Off-grid renewable technologies are at the leading edge of this shift. “There is undoubtedly strong momentum for the transition but to move fast enough we need collective and coordinated actions by public and private sectors to mobilise investments and scale up the deployment,” continued Mr. La Camera. “IOREC will take place against this backdrop.” Since its first edition in Accra, Ghana, 2012, IOREC has become a leading global platform for knowledge sharing on enabling policies, tailored financing, innovation in business models and technology, as well as on the socio-economic benefits of off-grid renewables. The biannual conference will promote the deployment of off-grid systems at a global level, highlighting their role in improving and providing essential services in education and the agri-food & water sector. Additionally, as a follow-up to the first International Conference on Renewable Energy Solutions for Healthcare Facilities held in 2018 and in the context of the ongoing global pandemic, the upcoming edition will host a session on the crucial role of off-grid renewables in the provision of healthcare. To encourage collaborative action, a virtual networking will be organised in parallel by IOREC’s industry partner, the Alliance for Rural Electrification (ARE). The virtual networking will provide participants with an opportunity to connect and set up meetings with potential business partners, public and private investors, and policymakers attending the event.

South Africa: Africa Joins Forces With SAESA To Showcase Sector’s Solutions

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South Africa Energy Storage Association (SAESA) and Enlit Africa have announced a unique partnership to launch Africa’s first platform for Integrated Storage and Alternative Power Solutions that will look at both renewable and energy storage solutions in a holistic manner, offering real world solutions. This will be showcased at the next live, in-person Enlit Africa conference and exhibition in Cape Town from 7–9 June 2022. “The developments in energy storage will make a massive difference to the efforts to achieve net zero in carbon emissions over the next period,” says Jo Dean, board member and spokesperson for the South African Energy Storage Association (SAESA). “We represent the interests of cutting-edge technology companies, which will collectively change the landscape of renewable energy and distributed generation in South Africa.” “SAESA has been a valuable industry partner over the years,” says Claire Volkwyn, Enlit Africa’s head of content, “and we are excited to take this relationship to the next level with this partnership by hosting a platform for this very specialised and vital sector in the energy landscape, especially in the context of a rapidly changing power and energy landscape and an increasingly urgent push for new solutions for the growing energy gap.” The platform showcasing Integrated Storage and Alternative Power Solutions will take a technology-agnostic approach for real-world solutions aimed at the private sector, municipalities and energy-intensive power users looking for practical, implementable, and financially viable alternatives.  According to Volkwyn, “energy storage is the catalyst for new power generation technologies to mature, and this platform will unpack some of the mystery and technical complexities.”  Additionally, there is a need to set up new regulations and standards to build confidence in this sector and reduce project risk. The platform will host global experts within the private sector, government, and institutional organisations to unpack the practical standards and regulatory suggestions for the industry to adopt.  In the run-up to the live Enlit Africa event in Cape Town in June next year, regular technical and educational content will be hosted on their digital platform Enlit Africa-Connect and ESI-Africa, creating a year-round engagement platform for this sector. Power & Energy Elites Formerly known around the continent as African Utility Week and POWERGEN Africa, Enlit Africa has been connecting the utility industry on the continent for more than two decades. Last month’s digital edition was a precursor in the lead-up to the hybrid event in Cape Town in June next year. Enlit Africa’s successful transition to digital The fast-growing attendee numbers and feedback from participants and partners fully support the remarkable and successful transition that the organisers of the event have made from in-person events to providing a digital forum for the industry to connect via live, online events on the Enlit Africa-Connect platform. The four digital events that have been hosted in the past 20 months have attracted more than 10 000 registered attendees, representing more than 70 countries and featuring 50 speakers.                  

Kenya Power Declares Support For Kenya’s E-Mobility Switch

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The Kenyan power company, Kenya Power, has declared support for the country’s move to switch to electric vehicles and motorcycles as part of its green initiative. The East African nation currently has an installed capacity of 2,791Megawatts of electricity against a peak demand of 1926 Megawatts. However, it hopes to increase it to 5000 Megawatts by 2030. According to a report by the Star Newspaper, Kenya power and other power sector players are actively pursuing the e-mobility agenda through negotiations for a favourable environment to support investments in e-mobility. The report said Kenya power and other sector players are seeking the enactment of a legal framework that would support e-mobility in the country, as well as the development of policies that would guide the installation of infrastructures such as charging stations for electric vehicles and motorbikes. “The evolution of clean energy locally and globally, as witnessed in the last decade, presents exciting times for the energy sector and its stakeholders,” Kenya Power Acting Managing Director & Chief Executive Officer, Rosemary Oduor said. She added that as the face of the sector, they are developing strategies to deepen the adoption of clean energy. Last year, they were involved in the pilot of the e-mobility programme in the country and they took up electric motorbikes for use by their staff. “We are doing this by riding on emerging technologies, particularly in electricity storage-for intermittent sources such as solar and wind to enhance their availability, thus, enabling us to deploy them more efficiently,” Mrs Oduor said. As of June this year, they had constructed and commissioned 21 solar mini-grids in off-grid plants. They are planning to construct 100 more with support from the World Bank.

 

South Africa: 92 000 Jobs Potentially At Stake Because Of The Energy Transition

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By: Anna Majavu Climate change labour experts have highlighted the impact that the just energy transition could have on workers employed in the coal industry. Anna Majavu writes about how moving to a low-carbon economy could negatively impact South African workers as unions weaken and renewable energy components continue to be imported at the expense of local jobs. After years of promises but still no guarantee of jobs in renewable energy, unions hoping that their members will retain employment if they cling to fossil fuel industries might miss the chance to negotiate a just transition. An estimated 92,230 people are employed in coal industries, according to the Minerals Council South Africa figures from 2019. “Many of our [union] members are worried about climate change, but they are more worried about keeping their jobs and being able to feed their families and have a roof over their heads. Our advice is that change is coming … and we have to be ready as trade unionists.  Climate change labour experts have warned that a just transition from a carbon-intensive economy to a low-carbon economy will devastate hundreds of thousands of workers in the energy and fossil fuel sectors. This is unless workers bargain collectively for binding contracts that put each of them on “a pathway to an equivalent job of good quality” in the renewable energy sector. So Who Pays For This Move Away From Coal? “When we are not ready and change comes anyway, we lose our jobs and we don’t have new jobs to go to, and no one is really ready to negotiate with us once the decision for restructuring has been made,” said Samantha Smith, an activist lawyer and director of the International Trade Union Confederation’s Just Transition Centre in Norway. She was speaking at a meeting between Cyril Ramaphosa’s Presidential Climate Commission and union federations Fedusa, Cosatu and Saftu in late October. Recently, the National Union of Mineworkers (NUM) said it supported Minister of Mineral Resources and Energy Gwede Mantashe’s call not to let coal mining go extinct. “South Africa has an abundance of coal reserves. NUM is opposed to the $8.03 billion offered to South Africa by developed countries so that it can accelerate the closure of coal power stations,” said acting general secretary William Mabapa. This $8.03bn is a mixture of loans and grants, agreed at the recent COP26 meeting in Glasgow, that the United States, United Kingdom and European Union will pay the South African government to transition away from fossil fuels. However, the NUM and the National Union of Metalworkers of South Africa (Numsa), which together organise the majority of workers in the fossil fuel and energy sectors, have long held that the countries responsible for climate change must pay all costs related to the transition in developing countries. Worker Reluctance To The Just Transition The US, China, Russia, Brazil, Indonesia, Germany, the UK, Japan and Canada have generated the largest amount of carbon dioxide between 1850 and 2021 from their fossil fuel, cement, forestry and land use industries. Because a just transition has not been fully funded, it is becoming heavily privatised. Billions of Rands are flowing to multinational companies that have already developed the expertise and factories to make renewable-energy components. Under these circumstances, labour has been performing the “pendulum swing” that Smith cautions against – away from renewable energy and back towards supporting fossil fuels – say former Numsa climate change researchers Dinga Sikwebu and Woodrajh Aroun. In The Palgrave Handbook of Environmentl Labour Studies, published this month, Aroun and Sikwebu discuss how several solar panel factories closed down after the government pulled back on renewable energy projects such as the national solar water heater programme. They also found that most jobs in renewable energy were created during the construction phases of these projects. In one wind and solar undertaking, only 10 in 189 jobs created were long-term, for operating the project. The rest were temporary construction jobs, 128 of them low-skilled and low-paid, so it is unsurprising that workers are “reluctant to embrace renewables as an alternative energy source”, they say. The Private Problem In other projects, private companies that bid said it would be necessary to import skilled staff for the majority of jobs, including operating and maintenance, with only low-skilled work set aside for locals. “As the promised jobs did not materialise with the renewable energy independent power producer procurement (REIPPP) programme, the initial anxieties [of workers] morphed into opposition. The dominance of multinational corporations in the REIPPP programme, the failure of the localisation programme and the dismal building of a local sector producing renewable energy technologies meant that there were no new battalions of workers that were joining unions and that had a stake in the emergence of a clean energy sector,” say Aroun and Sikwebu. An unjust energy transition can only be avoided if the government includes workers in its plans. These must include establishing renewable energy component factories to which workers in fossil fuel industries will be transferred, they say. Instead, affluent people are migrating away from the grid and installing their own solar power systems, Sikwebu told Old Mutual’s Tomorrow publication this month. “The migration will rob municipalities of revenue that is used to cross-subsidise other services and poor households. What we have here are the makings of an unjust transition.” He recommends that older power stations be turned into shopping malls, to retain jobs and prevent these areas from becoming “ghost towns”, or converted into gas-fired power plants using gas from Mozambique. A Lack Of Preparation For The Coming Energy Transition Labour could also be taking steps to improve its position in the looming and inevitable transition, says University of the Witwatersrand emeritus professor of sociology Jacklyn Cock. Unions have failed to align with mining-affected communities and other social movements, which continue to mobilise against coal mines on their own.  In the Palgrave handbook, Cock says labour has not had any formal working relationships with community organisations for the past 10 years.  “The NUM is resuscitating the old jobs-vs-environment binary. But a lack of preparation is also evident in the labour movement. Some unions, such as the Fedusa affiliates and Solidarity, are largely silent on climate change,” she explained. The unions generally fail to organise power station workers who are on short-term contracts or working through labour brokers. There are an estimated 2,300 such workers at Eskom’s Hendrina Power Station alone. Unless labour “reclaims its power and establishes closer connections with the environmental justice movement, coal workers and mining-affected communities, the case of South Africa could demonstrate what an unjust transition looks like”, said Cock.

KenGen Starts Geothermal Drilling In Djibouti

The Kenya Electricity Generating Company (Kengen) has started drilling geothermal wells in Djibouti after a couple of months of a successful trial. The company that has been contracted by the Djiboutian Office of Geothermal Energy Development (ODDEG) exuded confidence that the exercise would be successful. Kengen has been contracted by the neighboring country to drill three geothermal wells at a cost of Sh0.7 billion. According to Kengen MD Rebecca Miano, the drilling was a major milestone for the company which had invested heavily in training its staff. “This is a historic moment and we are confident that our team will deliver the project within the contracted time and on budget despite the prevailing circumstances brought about by Covid-19 and the security situation in Ethiopia,’ she said. In a statement carried in the company’s weekly report, Miano was confident that their staff would deliver the project in time as they had enough expertise in the field. “The drilling of the first well is expected to take about two months to complete as KenGen seeks to export the expertise and experience earned in Olkaria, Naivasha,” she said. The move comes barely a week after the power generator announced that it had completed drilling the deepest geothermal well in the Auto-Langano project in Ethiopia at a depth of 3,000m. According to Kengen Acting Geothermal Development Director Peketsa Mangi, the new well stood at 3,000 meters, surpassing their target of 2,750 meters. While praising the staff undertaking the project, Mangi noted that this was the second well to be successfully drilled under their agreement with the Ethiopia Electric Power Company (EEP). “We are happy to see our teams deliver the same level of success in the Horn of Africa where they have drilled a geothermal well to depths of 3,000m,” he said in the company’s statement. He said that this was the second of the eight wells that the company has been contracted to drill by the Ethiopian power company. The Djibouti project is the third mega geothermal drilling contract that KenGen is implementing in the continent.  In October 2019, the company secured a Sh5.8B contract with Ethiopia’s Independent Power Producer (IPP) to drill 12 geothermal wells in Tulu Moye.  In February 2019, KenGen won a contract to drill geothermal wells for the Ethiopian Electric Company (EEP) in Aluto-Langano, Ethiopia.  The contract financed by the World Bank is for the implementation of drilling rigs and accessories as well as rig operation and maintenance for drilling geothermal wells.     Source :The Star

Brazil’s Oil Major Plans To Invest $68 Billion In Boosting Production

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Brazil’s Petrobras plans to invest $68 billion in expanding its crude oil production, a figure that represents 84 percent of its total planned investments for the period 2022-2026. Offshore Technology reports that the number is a substantial increase on previously planned investments of $55 billion Petrobras announced for the 2020-2025 period. “Petrobras maintains its consistent strategy of focusing on projects with the potential to generate resources and contribute to the Brazilian society,” said chief executive Joaquim Silva e Luna.  “We prioritise transforming resources into wealth for the country while following the sustainable path for the energy transition,” he added. The company will allocate $1.8 billion from its 2022-2026 budget to decarbonization operations. In October, Petrobras reported a net profit of $5.34 billion for the third quarter of the year, with revenues of $21.78 billion, benefiting like its peers from the robust increase in international oil prices. It also boasted a reduction in gross debt to $59.6 billion from $79.58 billion in the third quarter of 2020.  The sizeable net income, however, prompted a backlash from Brazil’s president, who criticized Petrobras for high fuel prices and taking too much in the way of profits.  “Petrobras doesn’t pursue profit for profit,” CEO Silva e Luna, who was appointed to the post by President Bolsonaro, said during an earnings call with analysts, as quoted by Bloomberg. “Our goal is to generate value for shareholders and society through taxes, dividends and job growth.” Brazil has recently shaped up as one of the biggest hot spots in oil and gas, thanks to its presalt zone that contains abundant hydrocarbon reserves waiting to be tapped. Interest from investors is also significant, despite the green transition push. Brazil is already the largest oil producer in Latin America, but the country now plans to become one of the world’s five largest global crude producers.     Source:Oilprice.com  

Ghana: BOST Takes Delivery Of 5,400 Pipes For Tema-Akosombo Project After 12 Years Of Battling With Manufacturer In USA

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Ghana’s strategic Petroleum stock-keeping company, Bulk Oil Storage and Transportation Company (BOST) has finally taken delivery of 5,400 pieces of 12-inch pipes it procured in Houston Texas, USA, about twelve years ago. The company secured Eximbank USA facility in 2009 to expand the capacity of its petroleum pipeline between Tema and Akosombo from six inches to 12 inches and also enhance the storage capacities of Accra Plains, Kumasi, Buipe and Bolgatanga depots. Unfortunately, contractual and other issues with the manufacturer delayed the shipment of the pipelines to Ghana and were left at the mercy of the weather in the US. Interestingly, due to some effort of the then Managing Director of BOST, the late George Mensah Oakley and his successor the current Managing Director, Edwin Alfred Obodai Provencal, the company succeeded in ironing out all the issues with manufacturer and shipped the pipelines into Ghana earlier this week. The Board Chairman of BOST, Ekow Hackman led a delegation from the company including another member of the board, Mrs Joyce Agyeman Attafuah; Managing Director, Edwin Provencal, and General Manager Assets and Infrastructure, Nicholas Samari to take delivery of the equipment from the Tema Port. Addressing a section of journalists at the Tema Port the Managing Director of the company, Edwin Alfred Provencal said the pipelines were procured at a total cost of $63.2 million. Mr. Edwin Provencal, Managing Director of BOST He, however, said the company had to incur extra expenditure of $8 million for sandblasting and recoating before shipping arrangements were made to bring the pipes to Ghana for $2.1 million. “Imagine the opportunity cost of this investment -$63.2million, invested at an interest rate of nine per cent annum for 12 years. The current value would have been $178 million,’’ he opined. Responding to questions from the media, Mr Provencal said the pipelines would be installed in the middle of 2022. He said they estimate about 500 jobs to be created when the installation of the pipelines begin in August 2022. Touching on the benefits BOST would derive if the pipes are installed, Mr Provencal said it would improve the proportion of product transfer from Tema to Bolgatanga to serve the export market in the Northern regions. This, he said, would tremendously improve the utilization and turnover of the company’s marine assets. He added that the installation of the new pipelines is expected to increase the utilization of their Miami Water depot which also serves as a booster station between Tema and Akosombo. “It is the expected that the company will, through the installation of this new line, attain the target of meeting the ever-increasing demand of the landlocked countries in the Sahelian region at the lowest possible transmission cost,he stated. “With the initial refurbishment of the existing sixth inch line between Tema and Akosombo and the Buipe-Bolgatanga Pipeline, which stretches more than kilometres, we are confident that this new pipeline will increase volume from Tema to Akosombo by threefold to increase the turnaround time of the barges. This will tremendously improve the utilization and turnover of our marine assets,” he added. Mr Provencal indicated that over the past two years, the company has succeeded in putting close to 80 per cent of their assets to use as compared to a paltry 17 per cent at the beginning of the year 2017. “It is expected that by close of 2022, 100 per cent of BOST assets will be in utilization to ensure the mandate is delivered to the letter,’’ he opined. “The company is poised to increase its storage infrastructure to increase the volumes of product it can store for the nation to meet our demands during odd times.’’  He commended the government for being a responsive shareholder to provide the company with the needed space to be able to meet the cost of maintenance of its storage and transmission infrastructure to continue serving the interest of the people. The Board Chairman of BOST, Ekow Hackman said the arrival of the pipes is refreshing as it would propel the company to further heights. He commended the immediate past board for their assistance, as well as the Managing Director, Edwin Provencal and his predecessor for their effort that led to the shipment of the pipes to Ghana.       Source: https://energynewsafrica.com

OPEC+ Reacts To Biden, May Not Raise Oil Production In December

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OPEC+ heavyweights Saudi Arabia and Russia are rethinking their production strategies in the aftermath of several nations’ plans to release crude oil from emergency stockpiles, according to unnamed Wall Street Journal sources. The United States announced on Tuesday that it would release 50 million barrels of crude oil—32 million barrels in the form of an exchange that would need to be replaced in the coming years, and an accelerated release of 18 million barrels that were already planned. China, Japan, South Korea, and the UK also announced SPR releases at the United States’ bidding. The SPR release came after President Biden’s failed attempts to get OPEC+ to increase production at a quicker rate than the group had planned—which is an increase of 400,000 bpd every month until the group’s entire production volumes have been restored. In the days leading up to the release, OPEC+ warned those oil-producing nations that it would respond to a coordinated SPR release. While it did not specify amounts, OPEC+ said at the time that it may reconsider its plans to add additional production. WSJ sources now suggest that when the group next meets to discuss its production plans, it may rethink its strategy—what was up until now nearly a foregone conclusion—of increasing production by another 400,000 bpd. OPEC+ delegates said that Saudi Arabia and Russia are considering a pause in the increase. Meanwhile, the UAE and Kuwait are not on board with a pause, WSJ sources said. Even after the SPR release was announced on Tuesday, the UAE yesterday said that OPEC+ would probably stay the course. Russia and Saudi Arabia account for roughly half of OPEC+’s total production.  Oil prices rose shortly after the news broke, swinging from a loss on the day to a gain, with WTI trading up 0.15%. Source: Oilprice.com  

Ghana: Local Banks Chase GNPC With Funds To Support Aker/AGM Acquisition

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Some indigenous banks have begun knocking on the doors of Ghana’s national oil company (GNPC) to give financial backing to the corporation in its quest to acquire stakes in the Deep Water Tano Cape Three Point (DWT/CTP) and South Deep Water Tano (SDWT) oil blocks offshore  Republic of Ghana.   Ghana’s leading indigenous bank, GCB, and other local banks, according to Mr Benjamin Kweku Acolatse, Deputy Chief Executive Officer, who is in charge of Finance and Administration at the GNPC, are currently in discussion with the corporation to see how best “we can fund the acquisition in addition to government’s financial input to us.’’ Mr Acolatse told energynewsafrica.com in Dubai, during the Africa Oil Week, that the financial institutions are knocking on “our doors and it depends on due diligence that we do.’’ Mr Benjamin Kweku Acolatse GNPC, through its subsidiary, Explore, plans to purchase a 70 per cent stake in the South Deep Water Tano (SDWT) operated by AGM Petroleum Ghana Limited and a 37 per cent stake in the Deep Water Tano/Cape Three Points (DWT/CTP) operated by Aker Energy Ghana Limited. The company will form a joint operating company with the two entities and acquire the said stakes at different agreed prices. GNPC has already secured Cabinet approval and is waiting for parliament to okay the deal for them to source a $1.65 billion loan for the acquisition. The deal has, however, been met by stiff opposition by some fifteen civil society groups which argue that Ghanaians would be shortchanged if approved. “We are clear in our minds that the transaction if approved will shortchange Ghana. Therefore, we request Parliament to intervene given that the deal has already gone through all the relevant branches of the Executive ostensibly glossing over important threats of the transaction to the country’s fiscal situation,’’ the group said in a petition to Ghana’s parliament.   Source: https://energynewsafrica.com  

Ghanaian Solar Taxi Manufacturer To Produce Electric Vehicles In 2022

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A Ghanaian solar taxi manufacturer has hinted at plans of assembling electric vehicles beginning the next year 2022. Jorge Appiah, who is making Ghana proud for his solar taxi initiative, said electric vehicles are fast becoming the new normal and the company wants to ensure that Ghanaians at home are not left behind. He said they have designed schemes that would enable Ghanaians to easily buy, lease or rent electric vehicles. The company runs an outright sale, lease to own, and long-term rental schemes for people who want to own and or rent electric vehicles. In an interview with a Ghana-based journalist KKB on his Show, ’21 Minutes’, the CEO of Solar Taxi, Jorge Appiah said the prices of their cars range from GHC90,000 to GHC300,000 depending on what the customer wants, adding that it makes better economic sense to buy a brand new EV than to buy an imported home-used second-hand petrol/diesel car that will cost a lot of fuel to run. “An overwhelming majority of our clients choose EV over petrol/diesel cars based on the economics-because if you buy an electric vehicle today, you will be saving up to 90 per cent of what you spend on fuel every month. “So, if you spend GHC1,000 on fuel every month, EV will save you GHC900 and you would spend only GHC100 a month to run the car,” he stated. And the savings, he said, could even get to as high as 98 per cent a month, if you invest in a solar hub where a solar charging system is mounted in your house to charge your vehicle daily. Currently, the EV market is a young one in Ghana and is now picking up, but Jorge Appiah believes with the government’s policy intervention in the areas of infrastructural support and tax rebates for both players and consumers, EVs mainstreaming can be fast-tracked. Jorge Appiah said Solar Taxi’s main focus is to create an affordable and environmentally friendly transportation system for Africa, such that “we will avoid the situation where we make a lot of money but can’t spend because we would have to be wearing nose masks and adopting practices to prevent health risks due to environmental pollution.” West African economies, he said, depend largely on carriers, such that the smallest increase in the cost of any transportation component like fuel, spare parts and others impact every sector of the economy–education, food, health and others. So with the global drive towards stemming climate change, the dream was to find a sustainable and affordable means of transportation for the sub-region and beyond, and that was how Solar Taxi was birthed. He said it was based on the company’s commitment to green energy that, in 2018, MasterCard came on board as a partner and provided funding for them to go commercial.
South Africa: Energy Security At Centre Of Recovery- Energy Minister Mantashe
In terms of the safety of electric vehicles, Jorge Appiah said they are safer than petrol and diesel cars because the safety measures put in electric cars have been stepped up many notches higher compared to petrol and diesel cars. “For one, petrol is flammable but electric vehicles can hardly catch fire due to the high safety standards–EVs are just like the mobile phone in your pocket–if you do not have concerns about your mobile handset easily posing a risk then you should not have concerns about electric vehicles,” he said.    Source: https://energynewsafrica.com

Ghana: Why Is Ashanti Region In Darkness-INSTEPR Asks

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The Executive Director for Institute for Energy Policies Research (INSTEPR), Kwadwo N. Poku, has questioned the reason the Ashanti Region has been experiencing load shedding from 6 pm to midnight in recent times. According to him, his checks at the Electricity Company of Ghana (ECG) indicate that the problem is coming from GRIDCo’s 161 kV transmission lines taking power to the Ashanti Region. “If this is truly the reason, why is GRIDco not informing the good people of the Region?” he asked. Below is his full statement WHY IS THE ASHANTI REGION IN DARKNESS? For the past two weeks, Kumasi and its environs have been experiencing load shedding every evening between 6 pm and 12 midnight. Why? My sources at ECG tell me the problem is coming from the GRIDco 161 kV transmission lines taking power to the Ashanti Region. If this is truly the reason, why is GRIDco not informing the good people of the Region? GRIDco has always had a habit of not informing the population about challenges they are having that affect our daily lives. They are quick to hold press conferences to talk about the lack of government investments and allowances they are not getting. But they don’t think if there is a problem with their transmission lines and for two weeks, it has not released a press statement or held a presser to the people of Ashanti Region is needed. Nothing is more annoying than being in the dark every night. For nothing at all, the Minister is an MP from this Region. How do you expect him to attend funerals on Saturday when everyone is looking at him like “Hon, why are our lights off?” Please as a matter of urgency, the Institute for Energy Policies and Research is calling on the Management of GRIDco to issue a press statement or press conference to tell Ghanaians when the load shedding in Ashanti Region will stop. Also what measures are being put in place by GRIDco to have a better PR with the people of Ghana.   KWADWO N. POKU Executive Director INSTEPR       Source: https://energynewsafrica.com

Ghana: Ing Amoako Baah Adjudged Power Sector CEO Of The Year 2021

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A former Chief Executive Officer (CEO) of the Ghana Grid Company (GRIDCo), Ing Jonathan Amoako-Baah, has been adjudged the best power sector CEO at the 5th edition of the Ghana Energy Awards held in Accra at the weekend. Ing Amoako-Baah won having been nominated among other top executives in the power sector including Volkan Buyukbicer, Managing Director of Karpowership Ghana; Theophilus Sackey, CEO of Cenpower Generation; Kwame Agyeman-Budu, Managing Director of Electricity Company of Ghana; Elikplim Kwabla Apetorgbor, CEO of Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB) ; Pankaj Bhati, CEO ,Alpha TND; Kobinah Nyanteh, CEO Translight Solar and Emmanuel Antwi-Darkwa, CEO of Volta River Authority.  Jonathan Amoako-Baah is an accomplished Electrical Engineer and has been in active practice for over 30 years. He has worked in the Electricity and Oil & Gas industries across West Africa. Ing Amoako-Baah worked for several years at VRA as a design engineer on the Northern Electrification and System Reinforcement Project (NESRP), Project Coordinator on the Lower Volta Electrification Project and the Project Office Engineer on the National Electrification Project. He also worked as a Principal P&C Engineer at the Akosombo Generating Station, as a Construction Engineer on the Akosombo GS Retrofit Project and the Task Manager on the West African Gas Pipeline and the Takoradi II Expansion Projects. He is a Fellow of the Ghana Institution of Engineers, a member of the US-based Institute of Electrical and Electronics Engineers (IEEE), and is the immediate past President of the Society of Volta River Authority Engineers. In April 2009, Jonathan was seconded to the West African Power Pool (WAPP) headquarters in Cotonou, Benin, as a Project Coordinator, supervising projects in Ghana, Togo, Côte d’Ivoire, Burkina Faso, Guinea and Mali. Mr Jonathan was appointed Chief Executive Officer in 2017 when the current administration won political power in 2016. During his tenure, GRIDCo spearheaded the construction of 330kV/580MA Pokuase Bulk Supply Point, Kasoa Gas Insulated 161 kV Bulk Supply Point funded by the Millennium Development Authority. Additionally, under his tenure, GRIDCo completed the Accra Central Bulk Supply Point at the Graphic Road and also completed the 330 kV Kumasi-Bolgatanga transmission line and increased power supply to Burkina Faso. GRIDCo also signed a German compact for the improvement of its network and also the construction of two substations to be sited in Kumasi and Takoradi. He also implemented an Enterprise Resource Planning tool to convert the manual processes to a digital one in GRIDCo.   Source: https://energynewsafrica.com