G7 Agrees To Study Russian Energy Price Caps, Raise $5 Bln To Tackle Hunger
G7 leaders have agreed to study placing global price caps on imports of Russian energy to curb Moscow’s ability to fund its invasion of Ukraine and to contribute up to $5 billion to address global food insecurity, officials said on Tuesday.
The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, has dominated this year’s summit of the group of rich democracies at a castle resort in the Bavarian Alps.
The European Union will explore with international partners ways to curb Russian energy prices, including the feasibility of introducing temporary import price caps, a section of the final G7 communique seen by Reuters said. The officials said this meant both oil and gas.
The G7 has been debating price caps as a way to prevent Moscow profiting from its invasion of Ukraine, which has sharply raised energy prices, cushioning the impact of Western moves to reduce imports of Russian oil and gas.
Russian oil export revenues climbed in May even though export volumes fell, the International Energy Agency said in its June monthly report.
A cap on the price other countries pay Russia for oil would squeeze Russian President Vladimir Putin’s “resources that he has to wage war and secondly increase stability and the security of supply in global oil markets”, a senior U.S. administration official said on Tuesday.
The idea is to tie financial services, insurance and the shipping of oil cargoes to a cap on Russian oil prices. So if a shipper or importer wanted these services, they would have to commit to the Russian oil being sold for a set maximum price.
Italy, whose economy is reliant on Russian energy, pushed to extend the price cap to gas.
Italian Prime Minister Mario Draghi last week warned of the need to tackle energy prices to contain inflation and said the main objection to a gas cap from fellow Europeans was fear it could lead Russia to reduce supplies further.
France has said the price cap mechanism should extend beyond Russian products to reduce prices more broadly, including for the G7 nations that are looking to source energy from elsewhere.
France supports the language in the final communique but it remains unclear how such a mechanism would work and needs “thorough” discussions, a French official said.
G7 leaders have also agreed to push for a ban on imports of Russian gold as part of efforts to tighten the sanctions squeeze on Moscow, an EU official said on Tuesday.
Britain, the United States, Japan and Canada agreed at the start of the G7 summit on Sunday that they would ban imports of newly mined or refined Russian gold, while the European Union expressed some reservations.
Ghanaians Stage 2 Days’ Protests Against Hikes In Fuel Prices, Economic Hardships
Hundreds of Ghanaians hit the streets of Ghana’s capital Accra on Tuesday and Wednesday to protest the rising cost of fuel, which, they claim, has resulted in hikes in goods and services, thus making life unbearable.
The protesters included political activists, traders, drivers, teachers and students.
The protesters marched through the principal streets of Accra, resulting in heavy vehicular traffic during the two days.
The protesters came under one umbrella body: ‘Arise Ghana’.
What was supposed to be a peaceful demonstration to express their concerns, somehow, turned chaotic on Tuesday amidst the firing of tear gas and the pelting of stones by the protesters.
In the process, the Ghana Police Service, in a statement said 12 of its officers and some protesters were wounded.
A total of 29 protestors were subsequently arrested for their roles in the attack on the police and the vandalising of police vehicles, the police statement said.
Reacting to the protest on Accra-based Joy FM, Ghana’s Information Minister, Kojo Oppong Nkrumah, noted that there was a deliberate attempt by some individuals to destabilise the country.
“We don’t need to mince words about it. There is a trajectory-first, there was a group that wanted to demonstrate with weapons.
“Then, there was this group that said they wanted to demonstrate at night or to demonstrate from the evening throughout the night till the next morning. The police raised obvious security questions that it will be difficult,” he said.
The Ofoase-Ayirebi legislator noted that but for the interventions by the police, other similar protests could have landed the country in a state of insecurity, considering how the ‘Arise Ghana’ demonstrators behaved on Tuesday, June 28.
“This [Arise Ghana demo] is even daytime, broad daylight at the Obra Spot here in Accra–we have people attacking police officers in this manner. Can you imagine what would have happened at night if indeed some of these things were allowed to continue throughout the night?” he quizzed.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Ghana: TOR Exposed Over Shady Sale Of 260,000 Litres Of Slop Oil To Unlicensed Companies
A painstaking investigation by energynewsafrica.com has uncovered shady transactions between state-owned Tema Oil Refinery (TOR) and two entities that do not have the required license to operate in the petroleum downstream industry.
Documents available to energynewsafrica.com showed that on 4th May 2022, TOR sold a total of 260Metric Tonnes (260,000) of slop oil in their storage tank to K-Moy Ghana Limited and Petro XP Ghana Limited on a cash and carry basis where each received 130 metric tonnes.
However, industry experts say the product can be blended with crude and refined for maximum profit instead of selling it cheaply.
To unravel the crooked trade, energynewsafrica.com called Charles Awuah, General Manager (GM) Commerce of TOR, who is a signatory to the sale document, on the telephone, about the transaction and scheduled a meeting.
In his office on Monday, 30th May 2022, Mr. Awuah, in the company of three other staff members, hosted energynewsafrica.com which produced a letter to its hosts to prove their shady sale of the 260MT slop oil to the two unlicensed companies.
Immediately Mr. Awuah sighted the letter of proof, he requested energynewsafrica.com to officially write to TOR on the matter.
On 7th June 2022, energynewsafrica.com emailed an official letter to TOR, captioned: ‘Sale of Slop’.
The letter was subsequently copied to Mr Awuah via WhatsApp, and he acknowledged receipt.
After several days of waiting for official written responses to queries in the letter, a telephone call came from a lady who introduced herself as Matilda Adjoah Frempah from the Public Affairs Department of Tema Oil Refinery, explained to this portal that the stock it was investigating was a waste product.
Energynewsafrica.com requested her (Matilda) to put her response in writing to make it official but that has never been done.
A check by energynewsafrica.com at the Registrar-General’s Department showed that Martha Osei-Yeboah and Kwabena Osei-Yeboah are Directors of K-Moy Ghana Limited.
However, the Registrar-General’s Department data has no such name as Petro XP Ghana Limited. That means Petro XP Ghana Limited is not a registered entity.
The portal’s further checks at the National Petroleum Authority (NPA), Accra, were evident that neither of the companies-K-Moy Ghana Limited and Petro XP Ghana Limited-had registered with the Authority to do oil business in the downstream petroleum sector.
This portal, however, noted that Petrol XP Ghana Limited had been registered by NPA, but it is not in good standing since the beginning of 2022.
This means that it has no legitimate licence to operate since its licence had expired.
It is important to note that Petrol XP Ghana Limited, which is the registered entity that is not in good standing, has the spelling of Petrol has (L) while the company that bought the slop from TOR had Petro without (L).
The action of TOR is in breach of Sections 11(1) and (2) of the NPA Act, Act 691 which stipulates that:
- A person shall not engage in a business or commercial activity in the downstream industry unless that person has been granted a licence for that purpose by the Board.
- The business or commercial activities of the downstream industry in respect of crude oil, gasoline, diesel, liquefied petroleum gas, kerosene and other designated petroleum products are: (a) Importation, (b) Exportation, (c) Re-exportation, (d) Shipment, (e) Transportation, (f) Processing (g) Refining, (h) Storage, (i) Distribution, (j) Marketing, and (k) Sale.
Ghana: BPA Grabs Five HESS Awards
Ghana’s second state largest power generation company, Bui Power Authority (BPA), won five awards at the 2022 Health Environment, Safety and Security (HESS) Award held on Friday, June 17, 2022, at the Movenpick Ambassador Hotel, Accra.
BPA won the Best Company in Employee Health & Wellbeing Initiatives, Best Company in Employee Safety and Security Management, Best Company in Environmental Management Practices,
Sustainability and Operational Excellence Award and Best Company in HESS Compliance, Reporting & Monitoring.
Addressing the gathering, Board Chair of Ianmatsun Global Services Limited, Diana Heymann-Adu, said it is vital that the rehabilitation process, following the devastating effects of the Coronavirus pandemic begins with the building of a stronger and more health-conscious working environment.
“Being aware of the negative impact of the Coronavirus pandemic around the world, of which Ghana is no exception, it is imperative that the recovery process begins with the building of more robust workspaces and workforce. This will ensure that companies are better equipped for sustainability and a better future,” she said.
Events Director for HESS Awards, Isaac Adu-Gyamfi, said the purpose of the award is to encourage businesses in Ghana to implement health, safety and security initiatives as a method of building a more resilient workspace and workforce as they fight to recover from the consequences of the pandemic.
He said measures are being put in place to ensure that the government passes the Health and Safety bill into law.
“We are advocating for the bill to be passed. For the past four years, we have been going to the ministries and they have been telling us about the process and progress of the bill which is yet to go to parliament for a review and then later be passed, but we are hopeful because there are so many things that the bill will help solve when it is passed,” he said.
Nigeria: Buhari Approves TCN UnbundlingSource: https://energynewsafrica.com
South Africa: Democratic Alliance Demands Dismissal Of Mineral Resources & Energy Minister Over Power Crisis
South Africa’s opposition political party, Democratic Alliance (DA), is calling for the dismissal of the country’s Minister for Mineral Resources and Energy, Gwede Mantashe, over the country’s energy crisis.
South Africa’s power utility company, Eskom, has been implementing load shedding due to a shortfall in power generation.
In a statement issued Tuesday, DA noted that the threat of stage ‘6’ load shedding highlights the failures of the governing African National Congress (ANC) and, in particular, a string of energy ministers and Eskom war rooms led by President Cyril Ramaphosa’s first and later by Deputy President, David Mabuza.
“The ongoing silence by Ramaphosa, Gwede Mantashe and Pravin Gordhan is proof that they are little more than bystanders in a crisis of their own making.
“In our call to Cabinet for the State of Disaster to be declared on Eskom and the electricity sector, we cautioned that South Africa’s 15-year-old load shedding crisis requires a ‘whole of society’ approach that is anchored on making electricity generation the biggest priority for the country in the next 5 years,” the Democratic Alliance said in a statement.
Eskom has warned of a possibility of stage ‘6’ load shedding during the evening peak, blaming the intensified level of power cuts on the loss of generation capacity overnight as well as the unlawful industrial action by its workers.
The DA said Mantashe, as the Minister responsible for securing South Africa’s electricity needs and planning its energy future, has been obstructive and combative in his approach to dealing with proposed solutions.
The party’s shadow Minister for Mineral Resources and Energy, Kevin Mileham said Mantashe deserved to be singled out.
Source: https://energynewsafrica.com#PowerAlert1
— Eskom Hld SOC Ltd (@Eskom_SA) June 28, 2022
Due to unlawful industrial action, Stage 6 loadshedding will regretfully be implemented at 16:00 until 22:00 this evening. Stage 4 will then continue to be implemented until midnight. pic.twitter.com/BEJZLMcjr3
Ghana: NPA Engages Petroleum Consumers In Upper East
Consumers of petroleum products in the Republic of Ghana have been encouraged to notify the National Petroleum Authority (NPA) of bad experiences they encounter at the various fuel refilling stations.
The Head of Consumer Services at the NPA, Eunice Budu Nyarko, gave the encouragement in Navrongo where she led a team from the NPA to sensitise commercial drivers on the safe use of petroleum products, as well as increase awareness of consumers on their rights and responsibilities.
According to her, this would enable the Authority to conduct thorough investigations into the matter and punish anyone found culpable.
“Issues of suspected adulteration and suspected cheating at the filling stations should be brought to the attention of the authority on time to conduct investigations quickly into it,” she stressed.
She further advised motorists to buy fuel from functional filling stations across the country, stressing that as long as it is in operation, it is presumed it has been monitored and the quality of the product is guaranteed.
The team also highlighted the activities of the Authority, which include its mandate, objectives and responsibilities to the consuming public, hazards involved in the handling and usage of petroleum products and what constitutes best practices for operators of filling stations in the downstream petroleum industry, among others.
The Upper East Regional Manager of the NPA, Osman Mahama, for his part, encouraged consumers to call on him anytime they had any petroleum-related issues in the region.
The team also visited commercial drivers and market women in Paga, Sandema and its environs as well as the Bolgatanga township.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Nigeria: Civil Society Group, SERAP, Sues Buhari Over ‘Missing N11trn Electricity Fund’
A group calling itself Socio-Economic Rights and Accountability Project (SERAP) in Nigeria has filed a lawsuit against President Muhammadu Buhari “over his failure to probe allegations that over 11 trillion Naira (US$26,477,000,000) meant to provide regular electricity supply since 1999 may have been stolen, mismanaged or diverted into private pockets.”
Despite huge investments into the West African nation’s power sector over the years, there appears to be no improvement yet as the country’s grid has reportedly collapsed, at least, three times in five months, and 130 times in seven years, plunging the nation into darkness on many occasions.
According to the World Bank, epileptic power supply costs businesses in Nigeria about $29 billion yearly.
In the suit number FHC/L/CS/1119/2022 filed last week at the Federal High Court, Lagos, SERAP is seeking “an order of mandamus to direct and compel President Buhari to investigate how over N11 trillion meant to provide regular electricity supply has been allegedly squandered by governments since 1999.”
The group is also seeking “an order of mandamus to compel President Buhari to ensure the prosecution of anyone suspected to be responsible for the missing electricity fund, as appropriate, and to ensure the tracing and full recovery of any missing public funds.”
“It is in the public interest to ensure justice and accountability for alleged corruption and mismanagement in the electricity sector, which has failed governments to solve Nigeria’s perennial power problem,” it argued.
According to SERAP, “The staggering amounts of public funds alleged to have been stolen over the years in the sector have had catastrophic effects on the lives of millions of Nigerians, akin to crimes against humanity against the Nigerian people.
“The failure to trace, find and recover the missing electricity fund is antithetical to the public interest, the requirements of the Nigerian Constitution 1999 [as amended], and the country’s international obligations.”
They further argue that “Nigerians have, for far too long, been denied justice and the opportunity to get to the bottom of why they continue to pay the price for corruption in the electricity sector–staying in darkness but still made to pay crazy electricity bills.”
They are of the view that “investigating the allegations of the missing N11 trillion electricity funds, prosecuting suspected perpetrators and recovering any missing public funds would end a culture of impunity. It would also address the persistent collapse of the electricity grid, and improve access to and affordability of electricity in the country.
“Corruption in the electricity sector and the lack of transparency and accountability in the use of public funds to support the operations of DISCOS have resulted in regular blackouts, electricity grid collapse, and unlawful hike in electricity tariffs.”
SERAP is also seeking “an order of mandamus to direct and compel President Buhari to refer to the International Criminal Court all unimplemented reports of corruption in the electricity sector gathering dust on the shelves, and to arrest and surrender those named in the reports to the court for prosecution.”
Joined in the suit as Respondent is Mr Abubakar Malami, SAN, Attorney General of the Federation and Minister for Justice.
The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Ms. Adelanke Aremo read in part: “Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. These commitments ought to be fully upheld and respected.”
No date has been fixed for the hearing of the suit.
Source: https://energynewsafrica.com
Nigeria: IBEDC Appeals To Customers To Pay Bills, Says Tariffs Are Fixed By NERC.
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc has appealed to its esteemed customers with huge outstanding to pay their bills.
This is to avoid any kind of interruption due to the ongoing mass disconnection exercise.
A statement signed by the Chief Operating Officer of the Company (COO), Engr John Ayodele said IBEDC is embarking on a mass disconnection exercise because of payment apathy by customers, which is adversely affecting quality service delivery.
“We are retooling our revenue drive strategy to ensure that the monies that have been left uncollected through huge debts, non-payment of bills, underpayment of bills, meter bye-passing, use of illicit meters and energy theft are raked in to enable us to meet our obligations to the customers and the market operators.
“As we all know, there has been a major drop in the electricity generated across the country that has invariably caused the reduced power supply to our valued customers; this drop in generation from the GENCOs is also traceable to their inability to pay for gas, which is denominated in dollars. “When customers do not pay for electricity consumed, it has a ripple effect, as we cannot service the electricity value chain.”
Ghana: Be Firm In Electricity Bills Collection- Energy Minister Tells NEDCoCOO, however, urged customers with disputed bills to lodge their complaints at the nearest IBEDC office to seek redress or adjustments in cases where the claims are genuine and verifiable. Furthermore, he pleaded with customers to obtain their meters under the Meter Asset Provider Scheme (MAP) to put a stop to disputes over billing. “The meters will record your accurate consumption, so please apply for a pre-paid meter if you are unmetered if your meters are obsolete or faulty; and if you have a new building. Visit any IBEDC office in your location or go online to apply for the meters on msms.ibedc.com or www.ibedc.com,” he said. He also explained that customers who purchase meters under the MAP scheme would get their monies back in due course through energy units. On the issue of tariff rates that have generated arguments in some quarters, Engr Ayodele said only the Nigerian Electricity Regulatory Commission (NERC) has the power to determine what customers should pay for electricity based on their hours of supply. Source: https://energynewsafrica.com
Ecuador: President Announces 10 % Reduction In Fuel Prices In Attempt To Quell Protests
President of Ecuador Guillermo Lasso has announced a 10 per cent reduction in price of gasoline and gasoil following weeks of demonstrations over soaring food and fuel prices by Ecuadorians.
“I have decided to reduce the price of gasoline by 10 cents per gallon and diesel also by 10 cents per gallon,” he said in a televised address on Sunday, 26 June, 2022.
Indigenous leaders have organized protests that have stopped transport and paralyzed parts of Ecuador for weeks.
The protest leaders have been demanding gasoline price be lowered by 30 cents and diesel price by 35 cents.
However, the reduction announced by the president is far less than what protesters have demanded.
The demonstrations, which began on June 13 and are centered on the capital, Quito, have drawn in an estimated 14,000 protesters.
Clashes between police and demonstrators have left at least six dead and scores injured.
Blocked roads have led to fuel and food shortages in the capital.
The demonstrations have also paralyzed transport and disrupted Ecuador’s vital petroleum industry.
Indigenous groups have demanded a halt to oil and mining projects and demonstrators have entered flower farms and oil fields, with some facilities reporting damage to equipment.
“Oil production is at a critical level. If this situation continues, the country’s oil production will be suspended in less than 48 hours as vandalism, the seizure of oil wells and road closures have prevented the transport of equipment and diesel needed to keep operations going,” the country’s Energy Ministry said in a statement earlier on Sunday.
The ministry earlier said that oil production has fallen by more than half because of road blockades and vandalism linked to the protest.
The public oil sector, private producers of flowers and dairy products, tourism and other businesses have lost about $500 million due to the protests, the Ministry of Production said.
Amid the unrest, lawmakers are debating whether to remove Lasso from office, but have so far failed to garner enough support for his ouster.
On Sunday, parliament debated for over seven hours, with proceedings set to resume on Tuesday.
An impeachment would require 92 out of 137 possible votes. Lawmakers will have a maximum of 72 hours to vote following the end of the debate.
Lasso has already met with leaders of the groups organizing protests, and has announced subsidized fertilizers and debt waivers.
The president on Sunday also lifted a state of emergency that had been imposed in six provinces.
“Everyone considers that gas prices have become the cornerstone of maintaining the conflict and though we as a government are very clear that this factor isn’t the origin of Ecuadorians problems, we must think of the common good and citizens’ peace,” Lasso said.
Ghana: TOR Branch Of UNICOF Reacts To Energy News Africa Story
“The attention of the Senior Workers Union of the Tema Oil Refinery (TOR) has been drawn to a story published by energnewsafrica.com with the headline “Frustrated Napo Washes Hands off Tema Oil Refinery Affairs Due To Interference” alleging that the Minister for Energy, Dr. Matthew Opoku Prempeh, is in pain and getting frustrated each passing day due to interferences in his role by relatives of the President.
“The story also made wild allegations that Hon. Opoku Prempeh, who is supervising 15 energy sector agencies under his ministry, has allegedly washed off his hands of Tema Oil Refinery (TOR) after people close to His Excellency President Akufo-Addo managed to put pressure on him to get the Interim Management Committee (IMC) he constituted after the dismissal of the Managing Director, Francis Boateng, and his deputy, Mr. Ato Morrison, to pack out and brought in their darling boy Mr. Jerry Kofi Hinson, as the new Managing Director of TOR.
“The malicious story written by one Michael Creg Afful also alleged that, the Minister’s effort, through the IMC to weed out bad elements from the nation’s premier refinery, seems to have stepped on toes within the government and executives of senior staff association who are allegedly members of the opposition National Democratic Congress (NDC). We want to make it clear that such an association does not exist at TOR let alone having some supposed executives being members of the NDC.
“First of all, we are not in a position to ascertain the veracity of pain and frustration of the Minister of Energy as a result of interference by relatives of the President.
“We are also not able to confirm your allegations to the effect that the Minister who was appointed by the President to oversee various energy companies including Tema Oil Refinery has as story claimed, washed his hands off TOR due to pressure from people close to the President to pack out the IMC and appoint Mr. Jerry Kofi Hinson as Managing Director.
“These allegations are within your control to substantiate when the time comes for that to be required of you.
“We are however aware of the IMC allegations made against certain employees of TOR whose names we deem inappropriate to mention like you have done because of defamation consequences.
“The publisher and his assigns should not underestimate how this falsehood and defamatory statement negatively affects every facet of people lives and the reputation of the Refinery.
“It is important to note that the defunct IMC who were appointed to take charge of the Refinery should have taken time to appreciate the working systems of the Refinery. What your publication does not expressly admit, but which is apparent is that the IMC failed to investigate the allegations and support it with facts and the relevant evidence before putting the said employees before a Disciplinary Hearing. It gives us a cause to worry about how the IMC was in a hurry to undertake witch hunting to enable them stay in power.
“The staff named in your publication were not even given ‘the opportunity to be heard’ first of all before interdicted. This is in clear breach of the first rule of natural justice.
“As if that was not enough the IMC went further to Chair the Disciplinary Hearing Committee which they themselves put in place. A clear breach of the second rule of natural justice which stipulates the fact that ‘ one cannot be a judge in his own cause’
“The IMC having chaired the Disciplinary Hearing Committee come out with facts and recommendations which clearly posited that the workers they interdicted were not culpable in any of the wrong doing that the IMC alleged.
“The important thing is not whether the IMC has left TOR. The important thing is that they made frivolous allegations against workers, interdicted them without ‘given them the opportunity to be heard’, turn round to be a ‘judge in their own cause’ and subsequently exonerated the workers.
“You need to know for a fact that the exonerated workers went through the required TOR internal Disciplinary procedures and were found not guilty by the same IMC but not the Managing Director Mr. Jerry Kofi Hinson.
The facts are; The IMC set up a Disciplinary Hearing Committee, Chaired by the IMC and their own facts and recommendations have exonerated these workers. What this means is that, the IMC’S approach lacks the requisite facts, evidence, merit and to say the least they were finding fault where there was None.
“What is worse, you are now publishing defamatory reports against these innocent workers before and after their exoneration.
What you have succeeded in doing is subjecting the exonerated workers to public ridicule and lowering their status in the eyes of right thinking people. Do not be surprised to find yourself in court charged with defamation in the near future.
“From the foregoing it has become very clear that your publication is diabolical, has no merit and is intended to tarnish the reputation of the Managing Director Mr. Jerry Kofi Hinson.
“For and on behalf of TOR workers.
Bright Adongo
(Chairman – PMSU of UNICOF)
Source: https://energynewsafrica.com
Ghana: ECG Ada District Organises Customer Outreach Programme
The Ada District of the Tema Regional ECG has started a series of community visits and engagements with particular attention to customer service-related activities.
The first of this customer programme was held at the Koluedor Catholic Church at Koluedor, a suburb of Ada on Friday, 17th June 2022.
As part of the event, a mobile office was set up by the District Commercial Unit at the venue where customers within the locality were encouraged to visit with issues they may be facing about ECG services.
Over seventy community members showed up, with some having issues regarding the verification of accounts.
Some asked for the printing of account statements while others needed their faulty meters to be replaced.
Several customers also had billing challenges which were resolved.
Customers whose meters needed to be replaced were issued the necessary support while their meter replacements were handled on the same day.
As part of the programme, the ECG team discussed issues concerning the one-month moratorium which the company gave from 7th June to 6th July 2022 and encouraged that if any customer had problems with their meters, resulting from possible illegal connections, as well as some debt, they should inform the ECG so that they would not be processed for court.
However, should this time elapse, offenders would be prosecuted for the offence of stealing, as well as risk getting their names published in the media.
The ECG team on the field also engaged customers on efficient use of power, how to conserve power and safety with regards to electricity. Some of the participants expressed happiness at the fact that they had had their issues resolved without them having to go to the Ada District Office for such services.
Others encouraged ECG to carry out such services often to make it easier for more customers to benefit from the services provided.
Source: https://energynewsafrica.com
45% Of UK Drivers Cut Vehicle Journeys As Gasoline Prices Surge
A total of 45 percent of UK adults have cut back on non-essential journeys in a vehicle amid soaring fuel prices, the Office for National Statistics (ONS) said in its latest survey published on Friday.
As in many other countries, UK gasoline prices have jumped to records this year, with prices setting the biggest daily jump in 17 years in early June.
The average UK gasoline price has been around £1.90 per liter this week, or the equivalent of more than $8.80 per U.S. gallon.
Rallying gasoline prices compound the cost-of-living crisis in the UK, where energy bills jumped in April, gasoline is at record highs, and energy bills are set to surge further this autumn.
According to the ONS, around 9 in 10, or 91 percent, adults continued to report their cost of living had risen over the past month. This compares with 88 percent of adults reporting an increase in their cost of living in the previous survey between the end of May and early June.
The most common reasons given by adults who reported their cost of living had increased continued to be an increase in the price of food shopping (93 percent), gas or electricity bills (86 percent), or the price of fuel (80 percent), the latest survey showed.
Moreover, an increase in gas and electricity bills was the main reason for worry, reported by around half (51 percent) of adults whose cost of living had increased. Around 2 in 10 were most worried about the price of fuel—20 percent in the latest survey period, compared to 15 percent in the previous period.
The price of food was the main reason for worry for 18 percent of respondents in the latest period, up from 13 percent in the previous period, the UK’s statistics office said.
Source:Oilprice.com
Ghana: There Is Enough Fuel In Stock-NPA
Ghana’s petroleum downstream regulator, NPA, has assured Ghanaians that there is adequate fuel and hence should not panic.
“We have enough stock, and we have other vessels at anchorage to discharge,” Communications Manager at the NPA, Mohammed Abdul Kudus told energyaewsafrica.com.
This comes on the back of a Bloomberg report that said the West African nation faced a looming fuel shortage as the Central Bank rationed dollars after oil prices surged, following Russia’s invasion of Ukraine.
It said the monthly fuel import bill for the country increased to $450 million in May from $250 million in January.
The report said the Central Bank was only offering about $100 million a month at its foreign exchange auctions, and that licensed bulk distributors could no longer plug the shortfall in the black market.
Sharing his view of the report, Senyo Hosi, the Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, confirmed that there are challenges in getting enough dollars.
“Yes, we are having challenges accessing dollars and if that continues, we will not be able to buy fuel. That has been anticipated and we are working with the respective institutions to keep the situation stable,” he said.
Mr Hosi said though the Bank of Ghana (BoG), through a special dispensation, was providing Bulk Oil Distributing Companies (BDCs) dollars, it was not enough.
“The BoG started with giving BDCs 50 per cent of our required dollars. This has been scaled down to about 25 per cent. We had to go to the open market to buy additional forex to supplement it,” he said.
Source: https://energynewsafrica.com