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
Ghana: Nuclear Power Ghana Builds Capacity Of Team Leaders In Energy Sector
Nuclear Power Ghana has ended a three-day training programme for team leaders from three public institutions in the energy sector in Accra, the capital of Ghana.
The team leaders were trained on organisational development and appreciative leadership so they could become change agents in the energy sector and resource management sector.
The participants were drawn from the Nuclear Power Ghana, Nuclear Regulatory Authority (NRA) and the Nuclear Power Institute (NPI) of the Ghana Atomic Energy Commission (GAEC).
They were introduced to a new global leadership model dubbed: ‘Executive Mastery For Organisational Development and Appreciative Leadership (EMODAL)’.
The purpose of the MODEL is to reorient leaders to adopt best practices and indigenous knowledge in managing the organisation and the system in which they operate.
The programme was sponsored by Nuclear Power Ghana and facilitated by the University of Ghana Business School (UGBS).
Speaking to energynewsafrica.com, after the programme, Dr Gabriel Gbiel Benarkuu, an Organisational Development Expert and facilitator for the training, noted that the programme was intended to empower leaders’ practices in appreciating the system and the people they work with.
He told energynewsafrica.com that the participants were thought how to create their ideas and implement top directives with the full participation of their team members to facilitate the achievements of the organisations.
According to Dr Benarkuu, research conducted by the training team revealed that top executives and leaders did not know how to coach people to perform, a situation he said undermined the performance of the organisation.
“Over 70 per cent of the organisations in Ghana are not coaching people to grow and perform so they create a vicious cycle of leadership all year round and that is why this model is appropriate for leaders to begin to rethink so they can respond to realities on the ground,” he said.
The Executive Director of Nuclear Power Ghana (NPG), Dr Stephen Yamoah, said the training was the first time of a series of leadership programmes spearheaded by the organisation as the country worked towards constructing and operating its first nuclear power plant by 2030.
He tasked the beneficiaries to fully implement the knowledge they have acquired and drive change in their respective institutions.
A representative of the Nuclear Power Institute, Madam Afua Nettey, said the training had empowered the beneficiaries with the skills to resolve conflicts in the organisation and how to become team players in their various leadership positions.
Source: https://energynewsafrica.com
A representative of the Nuclear Power Institute, Madam Afua Nettey, said the training had empowered the beneficiaries with the skills to resolve conflicts in the organisation and how to become team players in their various leadership positions.
Source: https://energynewsafrica.com Ghana: Parliament Orders Withdrawal Of Soldiers Assisting ECG To Install Prepaid Meters In Krobo Area
Ghana’s parliament has directed the Ministers for Defence and Energy to ensure the immediate withdrawal of about 50 soldiers currently in the Lower Manya Krobo in the Eastern Region, assisting staff of ECG to install pre-payment meters.
According to a media report, the Member of Parliament for the area, Ebenezer Okletey Terlabi, raised the matter on the floor of the house on Friday, June 24, 2022, indicating that the presence of the military men is heightening tensions in the community.
The Second Deputy Speaker, Andrew Amoako Asiamah, subsequently, issued directives to the Ministers for Energy and Defence on the matter.
“We are also directing that the Minister for Defence withdraws the military attaché in the area for the time being for us to address certain matters, I so direct.”
The soldiers who are from the 49 Field Engineering Regiment of the Ghana Armed Forces (GAF) were deployed because previous attempts by ECG to introduce prepaid meters in the enclave caused a rift between residents and workers of ECG, with a case in the past in which ECG officials were physically assaulted.
But following a recent stakeholder consultation amongst interested parties aimed at finding an amicable solution, an agreement was arrived at to commence the process.
Source: https://energynewsafrica.com
Gambia: Report Of Looming Diesel Shortage Is False -Petroleum Ministry
Gambia’s Ministry of Petroleum and Energy has refuted assertions in the local media that the West African nation risks facing diesel shortage in the next seven days.
According to the Ministry, the information being circulated on social media platforms is untrue and baseless.
A statement issued by the Ministry said The Gambia is one country that has not experienced any fuel shortages since the start of the Russia-Ukraine war in March 2022.
“The Ministry of Petroleum and Energy, in collaboration with the Public Utility and Regulatory Authority, the depots (Gam-Petroleum and General Petroleum Services and the Oil Marketing Companies (OMCs) are ensuring that stock levels in the country are managed strategically to avoid shortages.”
To make fuel products affordable, the Ministry said the government continues to forgo its revenues while the importers also agreed to reduce their importer margin by US$20 per metric tonne.
The Ministry assured the citizenry that the government would do everything in its power to ensure that fuel products are available in the country.
Source: https://energynewsafrica.com
Kenya : Switzerland Firm To Install Waste-To-Energy Plant
Hitachi Zosen Inova (HZI), a waste management technology provider based in Zurich, Switzerland, has announced plans to construct a waste-to-energy plant in Kenya.
The firm is collaborating with the environmental solutions company Sintmond Group to convert municipal waste into electricity and biofuel.
This initiative is in line with the Kenyan government’s plan to deploy the first waste-fuelled power plant in Ruai, 55km from the capital Nairobi.
Speaking on the sidelines of the Waste-to-Power conference held in Nairobi, Chief Executive Officer of Sintmond Group, Richard Gatu, said, “we are ready to help counties manage their waste management with our waste-to-energy (WtE) technologies. Waste contributes to global warming as one of the major sources of greenhouse gas (GHG) emissions. Poor waste management ultimately hinders development.”
In a statement issued by Maureen Njeri, the Director of Environment, Water and Sanitation at the Nairobi Metropolitan Service (NMS), Kenya generate at least 8 million tonnes of waste annually. 70% of the waste is organic, 20% plastics, 10% paper, 1% medical waste and 2% metal.
According to the National Environment Management Authority (NEMA), almost half of this waste is generated in urban areas.
The city of Nairobi, for example, produces an average of 2,400 tonnes of waste daily, according to the World Bank. Most of this waste ends up in the Dandora landfill, which has been saturated since 2001.
Source: https://energynewsafrica.com
Ugandan Company Produces Ethanol From Cassava As Clean Cooking Alternative
Members of the Parliamentary Committee on Trade, Tourism and Industry have commended Bukona Agro Processors Ltd, a local investor in Nwoya district, that is processing cassava into fuel.
The MPs were thrilled that the company is producing ethanol from cassava that will mainly be used in cooking, reducing the pressure on forests through charcoal burning and firewood collection.
“I am very happy with this kind of investment as an environmentalist because the future they are saving is invaluable. You look at environmental degradation going on by the use of charcoal and we now have alternative energy; this is something we should support strongly,” Richard Gafabusa (NRM, Bwamba County) said.
Legislators were also pleased to discover that the investor is making bio-stoves and pressure cookers that use ethanol cooking which they said complements government efforts on wealth creation.
The committee visited the company during its oversight visit to projects where the government has made investments under the Uganda Development Corporation (UDC).
The government has since invested Shs11.9 billion (US$3.2m) in Bukona Agro Processors Company representing a 40.5% shareholding.
MPs were however concerned that, despite the demonstrable potential of the project, the factory runs on diesel when the Nwoya district has a power substation with the capacity to run such a factory.
“What are you thinking to support this investment with billions of shillings and there is no power? What is difficult about extending power here to support production?” asked Gafabusa.
Nwoya East County MP Charles Okello appealed to UDC to expeditiously push the government to extend electricity to the factory.
The committee was equally disturbed upon learning that the factory contracted Nwoya farmers to plant cassava but did not buy it. The farmers allegedly abandoned the factory which is currently buying cassava from Kitgum which is kilometres away.
“The failure of the factory to buy cassava caused problems even with our local leaders; the next time Bukona will go back to ask the same people to supply them cassava, they will not trust them,” Okello said.
The committee asked UDC to urgently approach the Operation Wealth Creation to motivate Nwoya farmers with seeds in order to resume large-scale cassava farming and benefit from the factory.
UDC was also tasked to explain their basis for investing in a project that is a starter moreover without a steady source of raw materials amidst high costs of operations.
“We need to know what convinced you to support this project which we heard that it once collapsed in 2019. How did you reassess the project and how did you reach this amount you are investing? Is there any benefit for government?” asked Catherine Lamwaka (NRM, Omoro District).
The Director of Investment at UDC, Andrew Mugerwa, reiterated the corporation’s commitment to ensure the factory is connected to the national power grid. “We were aware there was no electricity but we made a covenant to make a follow-up on electricity and we shall report on this,” Mugerwa said.
He added that UDC’s basis to invest in Bukona Agro-Processing Company was their business plan which he promised to provide to the committee. The committee recommended a feasibility study on the project to save the government from investing in a venture whose financial viability is not assured.
Source: https://energynewsafrica.com
Ghana: Energy Minister ‘Punches’ IES …Says Assertions Are False
Ghana’s Minister for Energy, Dr. Matthew Opoku Prempeh, has rejected the assertion by the energy think tank, Institute for Energy Security (IES) that he has failed to provide the leadership in finding a strategic partner for the Tema Oil Refinery (TOR).
The IES, in a statement published by energynewsafrica.com, claimed Dr Matthew Opoku Prempeh is being clueless and failing to provide a single strategic option to lift TOR out of its present condition while clamouring for another refinery.
“It is reported that the Minister is uncooperative with TOR’s Management and Board decisions and strategic directions, a situation which would generate another round of leadership failure at the State refinery,” the IES said.
However, reacting to the claims, the Ministry, in a statement, insisted that the country’s Energy Minister is providing strong leadership at TOR.
The Ministry noted that on 11th March 2021, four days after assuming office as Energy Minister, Dr. Prempeh undertook a working visit to TOR to familiarise himself with the situation on the ground.
The Ministry continued that after the dismissal of the Managing Director, Francis Boateng, and his Deputy, Ato Morrison, the Minister constituted a three-member IMC on June 15, 2021, whose terms of reference were to ensure the smooth transfer from the previous directors, undertake technical and human resource audits as well as receive and assess viable partnerships for TOR.
As part of its handing over notes, the IMC made recommendations to the incoming board regarding a strategic partner and sought the necessary approvals from the Public Procurement Authority (PPA).
The Ministry said in February and March 2022, when a new Managing Director and board took office respectively, they were tasked with a clear mandate to work towards securing a strategic partner for the revamping of the refinery.
“The Minister, subsequently, wrote to request an evaluation of all the processes involving interested parties and submitted same for the attention of an inter-ministerial committee including the Ministry of Energy, Ministry of Finance, Ministry of Public Enterprise, State Interests and Governance Authority (SIGA) and TOR. This was to enable the committee to make the necessary recommendations to the President.
“On 20th May 2022, government approved TOR to begin negotiations with a strategic partner.”
After this, on 10th June 2022, the Minister wrote to the Managing Director of TOR to provide guidelines and advice as the refinery prepares, together with its prospective transactional advisor, to enter into negotiations with a strategic partner,” the Ministry indicated.
Among others, the Ministry said the Minister directed further that TOR’s indebtedness and workers’ pension funds must be included in the negotiations with the strategic partner.
In the said letter, the Minister emphasised that whatever agreement that might be reached between the refinery and the strategic partner was not final until it had been subjected to further scrutiny by the Ministry of Energy and the Office of the President.
The release stated further that it was clear the Minister has demonstrated ‘clear leadership, focus and vision’ in working towards the revamping of TOR, and further asserts that the claim by the IES ‘is borne either out of ignorance of these facts or a deliberate attempt to tarnish the Minister’s image’.
The Ministry further noted that given the weight likely to be accorded the IES’s comments, it was important for the organisation to be circumspect in its public pronouncements and ensure fidelity to facts before going public.
‘The Ministry wishes to assure Ghanaians that Dr Prempeh is resolutely committed to ensuring that TOR is put on a sound footing to support Ghana’s industrialisation drive, and will continue to provide strategic leadership and direction in this regard’ the press release concluded.
Source: https://energynewsafrica.com
Ghana: Asante Berko Returns To TOR Leading Decimal Capital As Private Investor
A former Managing Director of Tema Oil Refinery (TOR), Asante Berko, is back in the country’s premier refinery as a Financial Arranger and leading a Kenya-based Decimal Capital Ltd to enter into a lease agreement with TOR for the supply of crude.
Decimal Capital Ltd is a private limited liability company offering financial solutions to wide variety of individuals and businesses.
This portal can confirm that Mr Asante Berko had been holding meetings at the refinery with the new management of TOR.
Asante Berko was appointed Managing Director of TOR in January 2020 after the resignation of Mr Isaac Osei.
He, however, resigned on April 15, 2020, following allegations of his involvement in a bribery scandal by the US Securities and Exchange Commission.
Mr Asante Berko is said to have allegedly paid bribes to some government officials and MPs to help the Turkish company, AKSA, secure a power deal in the country.
On Wednesday, energynewsafrica.com published a story that said the IMC constituted by Dr. Matthew Opoku Prempeh, Minister for Energy, engaged Intercontinental Energy Consortium who agreed to partner with TOR by investing US$60 million into the operations of the refinery through a tolling arrangement and recover their investment over five years.
Sadly, after their exit, energynewsafrica.com’s sources indicated that Mr Gabby Asare Otchere Darko, a relative of President Akufo-Addo, initially engineered the appointment of Mr Asante Berko as the TOR MD and was working hard to get him back to TOR as a Financial Arranger for TOR.
A statement issued by Tema Oil Refinery (TOR) on Thursday stated that Decimal Capital Ltd has been selected as the new strategic partner for TOR, confirming energynewsafrica.com’s publication.
Even though TOR’s statement did not give details of the partnership, energynewsafrica.com’s sources indicate that Decimal Capital Ltd is going to be part of the new Management.
According to the statement, the deal “is expected to boost the local supply of refined oil products and help stabilize the Ghana Cedi, in the lace of the ongoing international oil market crisis.”
“A local Transactional Advisor has been contracted by TOR to lead the negotiations in formulating the lease agreement, which is expected to be completed over the next three to four weeks.”
“The investment partner is expected to provide funding for a first phase, which will bring the Crude Distillation Unit (CDU) of TOR back on stream to refine about 45,000 barrels per day in the next few months,” parts of the release stated.
TOR noted that the agreement will “contribute significantly to improving fuel security” in the country.
“Production from TOR can contribute about a third of the current monthly consumption of diesel, and the full requirement of the Aviation Turbine Kerosene (ATK) and Fuel Oil needs of the country.”
Source: https://energynewsafrica.com
According to the statement, the deal “is expected to boost the local supply of refined oil products and help stabilize the Ghana Cedi, in the lace of the ongoing international oil market crisis.”
“A local Transactional Advisor has been contracted by TOR to lead the negotiations in formulating the lease agreement, which is expected to be completed over the next three to four weeks.”
“The investment partner is expected to provide funding for a first phase, which will bring the Crude Distillation Unit (CDU) of TOR back on stream to refine about 45,000 barrels per day in the next few months,” parts of the release stated.
TOR noted that the agreement will “contribute significantly to improving fuel security” in the country.
“Production from TOR can contribute about a third of the current monthly consumption of diesel, and the full requirement of the Aviation Turbine Kerosene (ATK) and Fuel Oil needs of the country.”
Source: https://energynewsafrica.com Ghana: 58% Of Electricity And 53% Of Water Consumers Kick Against Increment In Tariffs-PURC Survey
A survey conducted by the Public Utilities Regulatory Commission (PURC) in the Republic of Ghana has revealed that 58 per cent of electricity consumers across the country do not expect an upward review of electricity tariffs while 53 per cent also expect no increment in water tariffs.
The survey sampled views of a total of 851 categories of consumers across the 16 regions of Ghana.
The income levels of the respondents ranged from below GHS2,000 and above GHS5,000.
According to the findings of the survey posted on the official Facebook page of the PURC, 50 per cent of the respondents earned monthly incomes less than Gh¢2,000 while 17 per cent earned between Gh¢3,000 and Gh¢4,000.
The findings also showed that only nine per cent of the respondents earned a monthly income of over Gh¢5,000.
The findings revealed that 55 per cent of the respondents were of the view that the prevailing electricity tariffs were high, with only four per cent indicating that the tariffs were low.
It also revealed that 42 per cent of the respondents rated the prevailing tariffs as fair while 44 per cent indicated that the tariff does not commensurate with the quality of service received from the electric utilities, citing frequent voltage fluctuations and poor customer service delivery among others.
Interestingly, the findings also showed that residential customer respondents requested a 21 per cent reduction in their monthly expenditure on electricity tariffs.
For water consumers, the findings revealed that 53 per cent of the respondents did not expect any adjustment in water tariffs while 50 per cent of the respondents indicated that the current water tariffs are not justified given the poor service delivery in the form of frequent water supply interruptions.
The survey also revealed that two per cent of the respondents rated water tariffs as low while residential customer respondents indicated that they would not be boarded if water tariffs are increased by 26 per cent.
The electricity and water utilities are demanding an upward review of their tariffs with the view of raising revenues to make the necessary investments to render quality services to consumers.
The Southern Electricity Distribution Company, ECG, is demanding a 148 per cent increment for their distribution service charge from Ghp16.109/kWh to Ghp39.95 /kWh while NEDCo is demanding a 113 per cent increment in their distribution service charge from Ghp31.503/kWh to Ghp35.63/kWh.
State power producer, VRA, is demanding 37 per cent from Ghp28.227/kWh to Ghp38.687/kWh while GRIDCo is demanding 48 per cent.
Southern Electricity Distribution Company, ECG, is demanding a 148 per cent increment for their distribution service charge from Ghp16.109/kWh to Ghp39.95 /kWh while NEDCo is demanding a 113 per cent increment in their distribution service charge from Ghp31.503/kWh to Ghp35.63/kWh.
State power producer, VRA, is demanding 37 per cent from Ghp28.227/kWh to Ghp38.687/kWh while GRIDCo is demanding 48 per cent from Ghp6.042/kWh to Ghp8.918/kWh.
Enclave Power Company is also demanding 38 per cent from Ghp31.530/kWh to Ghp43.30/kWh.
Meanwhile, Ghana Water Company is asking for 300 per cent in tariffs from Ghs7.2/M3 to Ghs28.2/M3.
The PURC has held Public Hearing Multi-Year Major Tariff Review (2022-2027) and is expected to announce how much consumers should be paying for electricity and water in July 2022.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com Biden Calls On Congress To Suspend Federal Gas Tax
U.S. President Joe Biden has called on Congress to suspend the federal gas tax for the next 90 days.
“Today, I’m calling on Congress to suspend the federal gas tax for the next 90 days through the busy summer season—the busy travel season,” the President said on Wednesday.
The suspension of the gas tax—effectively a federal gas tax holiday–would amount to an 18 cent reduction in the price of gasoline and a 24 cent reduction in the price of diesel.
“I call on the companies to pass this along—every penny of this 18 cent reduction—to the consumer. This is no time now for profiteering.”
President Biden also called on Congress to move other proposals forward that are moving through the House and Senate.
The President also suggested that further reductions in the gasoline prices could come from suspending state gas taxes as well.
Biden stressed that this gas tax holiday—whether a federal gas tax holiday or a combination of federal and state gas tax holidays—alone won’t fix the problem.
President Biden asked the industry to refine more oil into gasoline to bring down gas prices, arguing that the high gas prices weren’t due to a lack of crude oil production, but a lack of refining.
“I’m calling on the industry to refine more oil into gasoline and to bring down gas prices,” Biden said. U.S. refiners are currently operating at 93.7% of their operable capacity, according to the Energy Information Administration.
“I know my Republican friends claim we’re not producing enough oil and I’m limiting oil production. Quite frankly, that’s nonsense. Here’s the truth: just this month, America produced 12 million barrels of oil per day—that’s higher than average under my predecessor,” Biden said, citing the prowess of the U.S. crude oil industry under his administration.
U.S. crude oil production averaged 12.289 million bpd in 2019–the year before the pandemic under U.S. President Donald Trump, before sinking as oil companies responded to the reduced demand. Last year, U.S. crude production averaged just 11.188 million bpd.
Biden called on the oil companies to work with my admin to bring refineries that were shut during the pandemic back online.
A meeting is scheduled for Thursday between some of the largest U.S. refiners and U.S. Secretary Jennifer Granholm to discuss ways to accomplish this.
Source: Oilprice.com