Ali Al-Ruwaigh Appointed CEO Of APICORP
The Arab Petroleum Investments Corporation (APICORP), a multilateral financial institution, has appointed Khalid bin Ali Al-Ruwaigh as its new Chief Executive Officer.
He took over from Dr. Ahmed Ali Attiga who led the organization over the past five years, during which APICORP successfully navigated an ever-changing business and energy landscape.
Commenting on the appointment of the new CEO, Dr. Aabed Al-Saadoun, Chairman of the APICORP Board said, “The appointment of Khalid bin Ali Al-Ruwaigh marks a new chapter in APICORP’s journey of transformation amidst the shifts in the energy and financial sectors. We are cognizant of the importance, complexity and responsibilities of our developmental mandate, and we will continue to adapt to reflect the changing world around us.”
“The wealth of knowledge and experience Khalid brings, having worked in a broad range of industries, will be instrumental in continuing our strong momentum in support of a balanced approach to the energy transition agenda and sustainable development goals of our Member Countries and wider MENA region,” Dr. Al-Saadoun added.
Speaking on the appointment, Mr. Khalid bin Ali Al-Ruwaigh said, “I am excited to join APICORP and be part of its transformational journey. As a company with a unique mandate which sits at the nexus of the energy and financial worlds, the opportunities for growth are truly vast. I look forward to working with our capable management team, our board, and our shareholders to connect industry stakeholders, develop innovative solutions, and support projects which have a positive, tangible, and lasting impact on the lives of people in our part of the world.”
Khalid bin Ali Al-Ruwaigh holds an MBA from California State University and a Bachelor’s Degree in Information Systems from King Saud University.
He joins APICORP from Emirates NBD Capital KSA where he served as Chief Executive Officer since March 2019 and had held several senior and executive roles within the financial sector covering multi-asset classes such as Public & Private Equity, Real Estate, and Fixed Income.
Dr. Aabed Al-Saadoun further noted, “I would like to thank Dr. Ahmed Ali Attiga for his years of service as CEO, successfully leading APICORP during a time of unprecedented challenges brought about by the pandemic and bolstering APICORP’s position as a trusted partner and key enabler of the Arab energy sector.”
Source: https://energynewsafrica.com
Nigeria: Hoodlums Burn Down Enugu Disco Office
Some unidentified men have burnt down the Enugu Electricity Distribution Company (EEDC) district office at Ogidi in the Federal Republic of Nigeria.
The sad incident, according to the report, occurred in the early hours of Monday.
According to a report filed by punchng.com, about 32 operational vehicles of the power utility company were burnt in the process.
Reacting to the incident, the Head of Corporate Communications at EEDC, Emeka Ezeh, who expressed the company’s displeasure told punchng.com that efforts made to reach the Anambra State Fire Service did not yield any positive results.
Mr. Ezeh said members of staff who were on the ground were helpless, as they watched the office building and other assets go down in flames.
He said, “It later took the intervention of the Commissioner for Utilities, Mr Julius Chukwuemeka, at about 9.05 am, to bring the Fire Service team down to the scene of the incident.
“This is a big loss to EEDC and a great setback to the efforts being made by the company to strengthen its network and improve the quality of service to its customers within Ogidi and Anambra State at large.
“We have already brought this development to the attention of the relevant authorities and it is expected that proper investigation will be carried out and the perpetrators of this dastardly act brought to book.
“There is no way a developing economy as ours can progress if we continue to record this kind of incident.
“We thank God that no life was lost. We condemn this unjustifiable act and pray such does not reoccur.”
Source:https://energynewsafrica.com
Ghana: New Tariff Will Be Fair To Ghanaians-PURC
Ghana’s Public Utilities Regulatory Commission (PURC) says it will make sure that electricity and water consumers are not burdened with tariffs that would be difficult to pay.
According to the Commission, the tariff will be such that consumers will be happy to pay.
Executive Secretary of the Commission, Dr. Ishmael Ackah, who gave the assurance at a public hearing for the Multi-Year Major Tariff Review at the University of Ghana, Legon, said the Commission would be looking at three things before determining a tariff for consumers.
First of all, he said the Commission would ensure that investment in the utilities is efficient enough. That is, investing in things that would help and lead to reliable and better services to customers.
Secondly, he said the Commission would ensure that the tariff would lead to innovation on the part of utilities.
“In this time when digitisation is becoming the order of the day, we want them to cut costs and use technology to do several things,” he said.
Thirdly, he said the Commission would balance the interest of consumers with that of the utilities by ensuring that the tariff is such that consumers will be happy to pay.
Present are the public hearing stakeholders including hairdressers, bar operators, restaurants operators, academia, think tanks and transport operators.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com Ghana: New ECG MD Assumes Post
The Newly appointed Managing Director of Electricity Company of Ghana (ECG), Lawyer Samuel Dubik Masubir Mahama has assumed post.
This portal reported last Friday that Lawyer Samuel Mahama has been appointed to replace Mr Kwame Agyeman-Budu who has retired last Thursday, May 13, 2022.
A statement issued by ECG stated that lawyer Mahama’s appointment is effective, today, Monday, May 16,2022.
Lawyer Mahama was a Board Member of ECG before his appointment.
He has been a solicitor in the energy sector and a former law lecturer.
The statement wished the immediate past Managing Director Mr Kwame Agyeman-Budu well for his service and his future endeavours.
Source: https://energynewsafrica.com
Ghana: Robbers Shoot Glory Oil Filling Station Worker
Some suspected robbers have shot a female fuel attendant at Glory Oil Filling Station at Akyem Abenase in Akyemansa District of the Eastern Region in the Republic of Ghana.
The incident happened on Thursday night.
The victim, Faustina Ampomaa, 23, before her condition would be stabilised by medics, was first rushed to the Oda Government Hospital, where considering severity of her injury, was again referred to the Regional Hospital in Koforidua.
The victim had to later be referred to the Korle Bu Teaching Hospital, Accra.
One of the staff at the Filling Station [name withheld], who confirmed the incident, explained that at about 7:30 pm Thursday while they were working, the two suspected armed robbers appeared on a motorbike and pointed their pump-action guns at them to surrender their monies and other personal belongings.
According to the staff, a woman, who was unfortunately at the scene, was violently shoved to the ground by the armed robbers while another worker was hit with the butt of the gun.
“I was sitting here and Ampomah Faustina was inside counting her money to render an account which I will also go inside and do the same. Then, all of a sudden, the armed robbers emerged and ordered us to bring our money.
“So I entered the office. So after Faustina locked where we kept the money, I asked her to throw the key for me to do the same but they started shooting. They shot her in the head,” the witness added.
The witness said the armed robbers, sensing danger, abandoned the operation and escaped.
Meanwhile, the police have since taken over the matter as an investigation is ongoing to arrest the suspects.
Source: https://energynewsafrica.com
Ghana: Lawyer Samuel Mahama Appointed New ECG MD
Ghana’s presidency has appointed Lawyer Samuel Dubik Masubir Mahama as the new Managing Director of the Electricity Company of Ghana (ECG).
The ECG is responsible for power distribution in southern Ghana.
Prior to his appointment, Samuel Mahama served as ECG Board Member.
He takes over from Mr. Kwame Agyeman-Budu who has proceeded on retirement since last Thursday.
Earlier, this portal reported that Mr. Agyeman-Budu was expected to exit ECG on Tuesday May 17, 2022.
However, sources indicate that he officialy handed over his office on Thursday earlier than expected.
The Board in a circular issued by Ms Cynthia Amartey, the Director in-charge of Human Resources at ECG, on Thursday announced the appointment of Mr Jones Ofori–Addo, as acting Managing Director pending the appointment of a substantive Managing Director.
The Presidency in a letter announcing the appointment of lawyer Samuel Mahama urged the Energy Ministry to trigger necessary modalities to facilitate Samuel Mahama’s regularisation in accordance with the relevant provisions of the Companies Act, 2019 (Act 992) and the regulations of ECG.
Mr. Samuel Mahama previously worked as a non-executive director at GIHOC Distilleries, Country representative for Gulfsouth Forest Products, Partner at Dubik & Associates, Wilkins Engineering among others.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
President Of OPEC Heavyweight UAE Dies
The President of the United Arab Emirates (UAE), Sheikh Khalifa bin Zayed Al Nahyan, died on Friday, the state news agency of OPEC’s third-largest producer reported
Sheikh Khalifa bin Zayed Al Nahyan suffered a stroke back in 2014, and since then, he has rarely participated in the day-to-day affairs of the UAE.
His half-brother, the Crown Prince of Abu Dhabi, Mohammed bin Zayed Al Nahyan, known as MBZ, has been the de facto ruler of the UAE for several years now.
The crown prince is expected to succeed his half-brother as ruler of Abu Dhabi.
The UAE will observe a forty-day national mourning with the flag flown at half-mast starting today, the Ministry of Presidential Affairs said, adding that work will be suspended at all ministries, departments, and federal, local and private entities for three days.
Under the constitution of the UAE, vice-president and Prime Minister Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai, would act as president until the federal council of the rulers of the seven emirates meets within 30 days to elect a new president.
The UAE is a major oil producer, OPEC’s third-biggest, and is one of the most influential members of the cartel and the wider OPEC+ alliance with some ten non-OPEC producers led by Russia.
In April, the UAE pumped 3.015 million barrels per day (bpd) of crude oil, up by 36,000 bpd from March, according to secondary sources in OPEC’s latest Monthly Oil Market Report (MOMR) published on Thursday. That’s the third-highest output from OPEC behind Saudi Arabia and Iraq.
The UAE is also an influential voice in oil markets, as participants pay attention to what the country’s Energy Minister, Suhail al-Mazrouei, says at public events.
Most recently, al-Mazrouei said this week that the extreme volatility in the oil market these days is the result of some buyers boycotting certain crudes and is not connected with OPEC+, and is outside the alliance’s control.
Source: Oilprice.com
LUKOIL Agrees To Acquire Shell’s Downstream Assets In Russia
Russian energy giant, LUKOIL, says it has agreed with subsidiaries of Shell plc to acquire a 100 per cent share in Shell Neft, which conducts retail petroleum products sales and lubricants production in Russia.
The assets of Shell Neft include 411 retail stations, primarily located in the Central and Northwestern federal districts of Russia, and a lubricant blending plant located in the Tver Region.
In a statement, the oil firm said the sale would be completed after its approval by Federal Antimonopoly Service.
“The acquisition of Shell’s high-quality businesses in Russia fits well into LUKOIL’s strategy to develop its priority sales channels, including retail, as well as the lubricants business,” Maxim Donde, LUKOIL’s Vice President for Refined Products Sales said.
“Our priority is the well-being of our employees,” Huibert Vigevano, Shell’s Downstream Director stated.
“Under this deal, more than 350 people currently employed by Shell Neft will transfer to the new owner of this business,” he concluded.
Ghana: Do Proper Background Checks Of Persons You Want To Employ-IGP To OMCsSource: https://energynewsafrica.com
Ghana: ECG To Spend US$1.51 Billion To Improve Power Delivery
Ghana’s southern power distribution company, ECG, intends to embark on capital intensive projects aimed to improve power reliability and quality within five years, spanning 2022 to 2027.
The company wants to expand its network, undertake project to reduce losses and improve operational efficiency (including revenue mobilisation and system reliability.
According to ECG, most of the projects would be executed in Greater Accra because it has the highest demand.
The company said this in its 2022-2026 Multi Tariff Review document presented to the utilities regulator Public Utilities Regulatory Commission (PURC) for consideration.
ECG explained that the total cost of its network expansion, loss reduction and improvement in operational efficiency will be US$1.51 billion.
“Out of the total planned investment cost of US$959.85 million, the amount incorporated in this tariff proposal is USD839.09 million. This excludes the cost for electricity access projects(USD33.5m) and 10% contingency (87.26m). Electricity access projects could be funded by the government and would, therefore, not qualify to be factored in the tariff proposal,” ECG said.
“Out of the total planned investment cost of US$959.85 million, the amount incorporated in this tariff proposal is USD839.09 million. This excludes the cost for electricity access projects(USD33.5m) and 10% contingency (87.26m). Electricity access projects could be funded by the government and would, therefore, not qualify to be factored in the tariff proposal,” ECG said.
Ghana: PURC Fines ECG GHS51K For Damaging Properties Of Five Customers In SecondiSource: https://energynewsafrica.com
Russia Sanctions European Gazprom Units In Retaliation
As the European Union hits a wall with its Russian oil embargo and backtracks on some sanctions, Russia has imposed its own sanctions on EuRoPol Gaz S.A., which owns the Polish portion of the Yamal-Europe natural gas pipeline.
The 2,000+ kilometer Yamal-Europe pipeline runs from Torzhok in Russia to Frankfurt, Germany, with the Polish section accounting for over 680 kilometers and housing five compressor stations.
In an official sanctions resolution published on Wednesday, the Russian government has now blocked any transactions with Polish EuRoPol Gaz or Gaz System, the Polish gas transmission system operator, in retaliation for Polish sanctions on Gazprom, Interfax reports.
Russia has also imposed sanctions on units of Gazprom Germania, Reuters reported.
The retaliatory move comes as Poland announces it will not renew its 10 bcm Yamal natural gas contract with Gazprom, which expires at the end of this year.
It also comes as Poland’s PGNiG Upstream Norway AS announces plans to produce an extra 0.5 billion cubic meters of natural gas from Norway operations in 2022 to make up for Yamal contract shortfalls after Russia cut off gas to Poland over refusal to pay in rubles.
This natural gas will be delivered through the Baltic Pipe, which is scheduled to come online in October this year.
Europe is growing increasingly uneasy over natural gas supplies, with Ukraine on Wednesday halting the flow of Russian gas through its transmission system, citing disruption from Russia’s occupying forces.
Russia’s new sanctions, which include a total of 30 entities, have increased momentum as the European Union stalls over plans for a Russian oil ban.
A vote on the embargo requires unanimous support, which is so far not forthcoming, with Hungary, in particular, maintaining staunch opposition. Hungary is now holding out for a hand-out in the form of hundreds of millions of dollars, which is said will be necessary to realize a full ban on Russian oil without economic devastation.
UK Plans Eight New Nuclear Reactors To Boost ProductionSource: Oilprice.com
Nigeria: Buhari Directs Petroleum Resources Minister To Resign
Nigerian President, Muhammadu Buhari has ordered the country’s Minister for Petroleum Resources, Chief Timipre Sylva to resign before or by Monday, May 16, 2022.
Chief Timipre is among a number of Ministers in Buhari’s administration who have expressed interest in contesting for political office as Governors or Presidential candidates ahead of the West African nation’s elections in 2023.
The President’s directive was issued through the country’s Minister of Information and Culture, Lai Mohammed, on Wednesday after the Federal Executive Council meeting.
The directive was in line with Section 84(12) of Nigerian Electoral Act 2022, which states that no political appointee at any level shall be a voting delegate or be voted for at Congress.
As at the time of filing this report, Niger Delta Affairs Minister , Obong Godswill; Mr Emeka Nwajiuba, Minister of State for Education; Minister of Transportation, Rotimi Amaechi and Minister of Science and Technology Ogbonnaya Onu have resigned.
Source: https://energynewsafrica.com
Nigeria’s Petroleum Resources Minister Joins APC Flag-bearer Race
Nigeria’s Minister of State for Petroleum Resources, H.E Chief Timipre Sylva, has declared his intention to contest for the flag-bearer of the All Progressive Congress (APC).
Some Nigerians particularly those from the northern part of the country, picked a nomination form for the Minister to contest for the flag-bearer of APC ahead of the 2023 presidential elections.
Responding to the call on Twitter, he said: “I am most grateful, honoured and humbled by the patriotism and commitment to our dearly beloved country, Nigeria, shown by the Nigerians from all walks of life who, today, took the trouble of obtaining the APC Presidential nomination and expression of interest forms for me.”
Chief Timipre noted in a post that he would consult widely before making a final decision.
On Tuesday, Chief Timipre Sylvia wrote: “In fulfillment of my promise to consult widely before returning to supporters with a definite answer to their calls for me to succeed my boss, I presented my nomination and expression of interest forms to the leader of the Ijaw Nation, Pa E. K. Clark for his blessings.”
In fulfillment of my promise to consult widely before returning to supporters with a definite answer to their calls for me to succeed my Boss, I presented my Nomination and Expression of Interest forms to the leader of the Ijaw Nation, Pa E. K. Clark for his blessings. pic.twitter.com/gLY1UTpAK9
— H.E. Chief Timipre Sylva (@HETimipreSylva) May 11, 2022
Source: https://energynewsafrica.comI am most grateful, honoured and humbled by the patriotism and commitment to our dearly beloved country, Nigeria shown by the Nigerians from all walks of life who today took the trouble of obtaining the APC Presidential nomination and expression of interest forms for me. pic.twitter.com/9ugyg07LCA
— H.E. Chief Timipre Sylva (@HETimipreSylva) May 9, 2022
Ghana: PURC Holds Stakeholders Consultation Meeting For 2022-2027 Tariff
Ghana’s utility regulator, Public Utilities Regulatory Commission (PURC), is holding stakeholders’ consultative meetings for the Multi Tariff Review (2022-2027) in Accra.
Present are think tanks, academia and media.
The utility companies are presenting their proposals.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com