Putin’s War In Ukraine Could Break The OPEC+ Alliance
The OPEC+ cooperation is facing a possible breakdown following Russia’s military invasion of Ukraine. Russia’s aggressive military moves towards Ukraine will have a negative impact on the oil market cooperation between OPEC and Russian-led non-OPEC members.
The success formula of Riyadh-Moscow-Abu Dhabi is in serious trouble as Western powers will be putting Saudi Arabia, Abu Dhabi, and others, under severe pressure to break up their strategic cooperation with Moscow.
The growing economic, financial and strategic military cooperation that has been built up the last couple of years between mainstream Arab power players, especially Riyadh, Abu Dhabi, and non-OPEC member Egypt, with Moscow is now in jeopardy. Officially, Arab countries are not being asked to protest against Putin’s Ukraine invasion, but behind closed doors, the topic will be put on the table for sure.
Washington, Brussels, London, and Paris will not be willing to have a major block of energy producers continue to work with Putin. The next couple of days could be crucial for OPEC+’s future, especially if Putin is continuing his war with Ukraine.
At present, statements coming from the Arab world are very diplomatic, calling for a major de-escalation or diplomatic moves. Looking at the still struggling Western response to Putin’s invasion of Ukraine, Arab countries still have some room to maneuver.
However, if Washington, Brussels, and London are getting their act together, politically and militarily, choices will have to be made. Western governments will be willing to take a long-term strategy towards the MENA region, based on their vast links in energy, investments, and geopolitical assets, but there will be less room to allow Moscow to find support in key-Western allies in the MENA.
For the two main OPEC leaders, Riyadh and Abu Dhabi, it will be a very tight rope to walk. Part of their strategic control of oil and gas markets during the last few years was based on cooperation with Russia. Moscow’s influence in other FSU countries to stick to the production pact has been playing a pivotal role. While the Ukraine crisis is partly a major financial boon for Arab oil and gas producers due to rising crude prices, OPEC strategists now need to assess the ups and downs of continuing this partnership.
Already, OPEC+ needs to tackle a number of problems. One major issue is the lack of spare production capacity in general, as some OPEC producers are already unable to keep up with their own quotas. While OPEC+ has stuck to their known monthly production hikes, real output levels are lagging behind, reflecting a 600,000 bpd quota shortfall. In the next few months, this number is expected to increase further. A lack of investment, declining field production, and lagging oil infrastructure are the main causes.
Russia, as one of the main OPEC+ powers, is also facing some production issues. Some analysts already have indicated that Russia’s spare capacity is now below 300,000 bpd. Moscow is currently producing around 10.8 million bpd, but should be producing close to 12 million bpd according to the OPEC+ agreements. If it fails to reach these numbers, Moscow’s influence is under pressure in the alliance.
Taking the production quota into account, while global crude prices are high, a potential breakup is not going to be very hard, especially if Saudi Arabia and Abu Dhabi will be the only ones with extra spare production capacity.
Geopolitically, the integrity of OPEC+ is very important. In contrast to the 20th Century or the first part of the 21st Century, there is more at stake lately. Riyadh, Abu Dhabi and also Egypt, have become weary of the lack of commitment of Washington as a military and economic partner. Moscow and Beijing have been filling up the gaps. Arab sovereign wealth funds are increasingly investing in Russia, China and Asia, while Russian investments in ports and industrial zones, such as along the Suez Canal, have a political impact too. At present, no Arab country is willing to make a clear choice between the West and the East.
Choosing to back the West in the Ukraine crisis, or supporting economic and military sanctions on Russia and its cohorts, is however a bridge too far. Other Arab and non-Arab members of OPEC+ are also not yet willing to sanction Moscow. Putin’s strategic moves during the last decade have severely eroded Western influence in the region, and Moscow is now reaping the benefits.
At the same time, Arab powers are also still keeping an eye on the Iran JCPOA discussions, and the position that China is taking towards Moscow. For most Arab oil producers, the Dragon-Bear developments are more important, at least on the surface.
A breakup of OPEC+ is currently an option without a real risk for the Arabs. A potential energy sanctions regime on Russia isn’t completely out of the question. Riyadh and Abu Dhabi will for sure be coordinating any moves with Washington, London or Brussels, but will have a direct line to Beijing too. China’s stealth moves at present will not influence geopolitical decisions during the coming months, but could also have an impact on the future of OPEC+. Some could argue a weaker OPEC+ is to the advantage of Beijing, as Moscow will be more willing to increase flows to China.
Analysts should be not looking the next couple of days at crude oil prices or official statements made by OPEC+ officials. The main focus should be on the body language shown on March 2, when OPEC will be meeting again. The same scenario as at the Third Summit of OPEC Heads of State and Government in Riyadh 2007 could play out. A breakup of the OPEC+ bromance is an underestimated possibility.
Source: Oilprice.com
Niger Set To Monetize Massive Gas Reserves Through Trans-Saharan Natural Gas Pipeline
Enabling Europe to tap into West Africa’s abundant natural gas supplies, the Trans-Saharan Gas Pipeline is expected to boost exploration in The Republic of the Niger and expand its energy industry. With a length of 4,128km and an annual capacity of 30 billion cubic meters of natural gas, the Trans-Saharan Natural Gas Pipeline will link the Warri Region in southern Nigeria, passing through the Republic of the Niger, to the town of Hassi R’Mel in northern Algeria, from where it will connect to existing Trans-Mediterranean, Maghreb-Europe, Medgaz, and Galsi Pipelines, enabling Europe to tap into West Africa’s abundant natural gas reserves, and thus diversifying its supply and expanding critical revenue for West Africa’s oil and gas industry.
The development of the multi-billion-dollar pipeline began this year, following the signing of the Declaration of Niamey by the Republic of Niger’s Minister of Petroleum, Energy and Renewable Energy, H.E. Mahamane Sani Mahamadou; Algeria’s Minister of Energy and Mines, H.E. Mohamed Arkab; and Nigeria’s Minister of State for Petroleum Resources, H.E. Timipre Sylva during the third edition of the Economic Communities of West African States Mining and Petroleum Forum in the Republic of Niger’s capital city of Niamey on 16 February.
The Trans-Saharan Natural Gas Pipeline is being developed through a partnership between Nigeria’s national oil company (NOC), the Nigerian National Petroleum Corporation (NNPC), and Algeria’s NOC, Sonatrach – holding a combined share value of 90% – and the Government of the Republic of the Niger – which will hold the remaining 10%. With much of the estimated $13 billion investment being spent in The Republic of Niger, and through which 841km will be constructed, the pipeline is expected to boost the energy sector of the landlocked, West African country, enabling it to monetize its vast natural gas resources and drive economic development. With an estimated 24 billion cubic meters of recoverable natural gas reserves in the country, the pipeline will allow the Republic of the Niger to boost its domestic gas supply and expand its petrochemical sector, serving to drive its agriculture industry, a major employer in the country.
As the voice of the African energy industry, the African Energy Chamber supports the development of energy-related projects on the continent. Positioning the Republic of the Niger and the West African Region to benefit from its abundant natural resources, the Trans-Saharan Natural Gas Pipeline will serve as a major opportunity for public and private stakeholders across Africa, further facilitating the continent’s potential to operate its energy industry independently across the entire value chain.
“With developments such as these, Africa is truly positioning itself to benefit from its own resources, without becoming over reliant on other countries to develop its energy sector,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber, adding, “Through investment into its own oil and gas industry, local companies will be able to boost project developments and position the continent as a net exporter of hydrocarbons, creating critical opportunities to further develop the industry and spur African growth.”
With aims to become a regional hub for hydrocarbons, petrochemicals, and associated products, the Government of the Republic of the Niger has indicated its commitment towards taking advantage of the pipeline to boost the country’s natural gas sector, with a stated objective being for the hydrocarbon industry to account for approximately 35% of its GDP, 45% of tax revenue, and 68% of exports by 2025. The Government will also use the pipeline to facilitate the development of a skilled working class, whereby a minimum of 50% of all technical roles in the energy industry will be filled by Nigeriens over the next decade.
Home to approximately 8% of the world’s natural gas reserves and with relatively little internal gas consumption, the African continent is seen as having considerable exporting potential and has been eyed by Europe as a way to diversify the supply of its natural gas imports. Algeria’s strategic position along the Mediterranean coast, and through connections with existing pipelines – or those already under construction – in Spain and Italy, the Trans-Saharan Natural Gas Pipeline is expected to serve as a long-term additional supply option for the European Union (EU).
The EU’s primary gas suppliers are Norway, Great Britain, the Netherlands, and Russia, with the largest share of its gas supply being delivered from Russia, which currently accounts for approximately 38% of total natural gas imports to the continent. It has been estimated that Russia could supply the EU with up to 70% of its natural gas imports by 2050, with the Russian multinational natural gas company, Gazprom, having negotiated with Nigeria regarding its possible participation in the Trans-Saharan Natural Gas Pipeline.
Following the EU’s announcement to label natural gas projects as ‘green’ investments, the Trans-Saharan Natural Gas Pipeline is being viewed as an opportunity for the EU to, not only diversify its energy mix, but serve to address the continent’s ongoing energy crisis, with surging natural gas prices increasing demand and compromising its supply.
As one of the African continent’s most promising frontiers for hydrocarbon exploration and development, and with one of the most stable democracies in the region, the Republic of the Niger is poised to become a regional hydrocarbon, petrochemical, and gas hub, with the Trans-Saharan Natural Gas Pipeline serving to facilitate this development, enhancing the country’s energy industry, and promoting socio economic development.
Source: https://energynewsafrica.com
Ghana: CEO Of Ghana Gas Is Worth Celebrating-Says Annoh-Dompreh
Clean Energy advocate and Member of Parliament for Nsawam-Adoagyir Constituency in the Eastern Region, Frank Annoh Dompreh believes Ghanaians should celebrate the CEO of Ghana Gas Company for his remarkable effort towards transforming the company.
In a tweet, the Ghanaian lawmaker said the company has witnessed several initiatives under Dr Benjamin K.D Asante’s leadership which are “worth celebrating.”
Dr Benjamin Asante, a renowned gas infrastructure expert, was appointed by President Akufo-Addo to replace Dr George Sipa Yankey as CEO in 2017 when the New Patriotic Party won power and formed the government in 2017.
Since 2017, Dr Asante has undertaken several initiatives including expanding the company’s gas infrastructure and increasing gas flow from 90mmscfd to 300mmscfd.
Recently, Dr Asante announced that the company intends to construct a second gas processing plant to ensure that Ghana increases the usage of gas for electricity generation and domestic consumption.
Enumerating some of the initiatives undertaken by Ghana Gas under the leadership of Dr Benjamin Asante, Mr Annoh-Dompreh mentioned the indigenization which has saved the taxpayer a monthly bill of $3million ($36million annually) for engaging the services of expatriates.
He said the decision to indigenize operations of Ghana National Gas Company’s installation is one of the best initiatives taken by its management.
According to him, this has opened up opportunities for young engineering graduates and employment for Ghanaian workers, while deepening local participation in the oil & gas sector.
As part of its CSR, the company has completed about 150 projects across the nation covering areas such as education, health, boreholes, roads, security, social development and sports–the construction of Astro turfs.
Under the leadership of Dr Asante, GNGC “increased its local workforce by about 300 per cent from 2017 to 2021.
Ghana Gas has also introduced the Gas Challenge in which students from tertiary institutions offering Science Technology Engineering and Mathematics (STEM) gather to compete and demonstrate their understanding of the gas industry.
Source: https://energynewsafrica.com
He said the decision to indigenize operations of Ghana National Gas Company’s installation is one of the best initiatives taken by its management.
According to him, this has opened up opportunities for young engineering graduates and employment for Ghanaian workers, while deepening local participation in the oil & gas sector.
As part of its CSR, the company has completed about 150 projects across the nation covering areas such as education, health, boreholes, roads, security, social development and sports–the construction of Astro turfs.
Under the leadership of Dr Asante, GNGC “increased its local workforce by about 300 per cent from 2017 to 2021.
Ghana Gas has also introduced the Gas Challenge in which students from tertiary institutions offering Science Technology Engineering and Mathematics (STEM) gather to compete and demonstrate their understanding of the gas industry.
Source: https://energynewsafrica.com Chernobyl Power Plant Captured By Russian Forces -Ukrainian Official
The Chernobyl nuclear power plant has been captured by Russian forces, an adviser to the Ukrainian presidential office, Mykhailo Podolyak, said on Thursday.
“It is impossible to say the Chernobyl nuclear power plant is safe after a totally pointless attack by the Russians,” he said.
“This is one of the most serious threats in Europe today,” Podolyak said.
Russian troops took over the power plant while Ukrainian forces battled them on three sides on Thursday after Moscow mounted an assault by land, sea and air in the biggest attack on a European state since World War Two.
Some Russian military massed in the Chernobyl “exclusion zone” before crossing into Ukraine early on Thursday, a Russian security source said.
Russia wants to control the Chernobyl nuclear reactor to signal NATO not to interfere militarily, the same source said.
The Chernobyl disaster in then-Soviet Ukraine sent clouds of nuclear material across much of Europe in 1986 after a botched safety test in the fourth reactor of the atomic plant.
Decades later, it became a tourist attraction. About a week before the Russian invasion the Chernobyl zone was shut down for tourists.
“Our defenders are giving their lives so that the tragedy of 1986 will not be repeated,” Ukrainian President Volodymyr Zelenskiy tweeted shortly before the power plant was captured.
“This is a declaration of war against the whole of Europe.”
Source: Reuters
Ghana: Petrol, Diesel Likely To Sell More Than GHS 8.50 Per Litre As Crude Oil Hits $103
Fuel prices in the Republic of Ghana are expected to go up higher by between 60 and 70 pesewas in the first pricing window in March 2022, following a jump in the price of international benchmark crude Brent to US$103.3 per barrel on Thursday, February 24, 2022.
The West Texas Intermediate WTI traded around US$93.50 per barrel on Wednesday while Brent was trading around US$97.51 per barrel.
Surprisingly, the price of both WTI and Brent jumped on Thursday morning following the Russian troop invasion into Ukraine which is limiting fuel supply to the market.
Currently, both petrol and diesel are sold between GHS7.88 and GHS 7.99 on the local market.
During the second pricing window which began on February 16, 2022, some Oil Marketing Companies (OMCs) increased fuel prices by between 50 pesewas and 58 pesewas at the time Brent crude sold around $95 per barrel.
Analysing the effects of Russia’s attack on Ukraine which has already driven crude oil prices above $100 and Ghana’s weak currency, the cedi, a litre of petrol and diesel will likely be sold more than GH¢8.50 during the first pricing window in March.
Speaking to ebergynewsafrica.com about the soaring crude oil prices, Executive Director of Institute for Energy Security IES, Nana Amoasi (VII) said: “The rise in international prices and a decline in the value of the local currency will impact negatively on the prices of domestic fuel, as a result of the price and forex exposures.
“In Ghana, any additional increase in the price of, let’s say, gasoline and diesel will compound the inflationary pressures we are currently seeing.”
Nana Amoasi (VII) urged the government to act quickly to arrest any increases at the pump, come to the next pricing window.
Suggesting what could be done to cushion consumers, he said in the immediate term, the government can resort to either taking off or suspending some of the tax/levy/margin components on the petroleum price build-up. This may be a loss of revenue to the government but it can easily be compensated for by the windfall of revenue from the sale of Ghana’s share of indigenous crude sales.
He added, “And in the mid-to-long term, the BOST and TOR system must work to manage not only the risk associated with price increases on the world market, but also manage any form of supply risk.”
Source: https://energynewsafrica.com
Oil Tops $105 After Russia Attacks Ukraine
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply.
Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two.
The United States and Europe have promised the toughest sanctions on Russia in response.
“If sanctions affect payment transactions, Russian banks and possibly also the insurance that covers Russian oil and gas deliveries, supply outages cannot be excluded,” said Commerzbank analyst Carsten Fritsch.
At least three major buyers of Russian oil were unable to open letters of credit from Western banks to cover purchases on Thursday, sources told Reuters.
Brent crude was up $8.15, or 8.4%, at $104.99 a barrel as of 1221 GMT, having touched a high of $105.79. U.S. West Texas Intermediate (WTI) crude jumped $7.33, or 8%, to $99.43.
Brent and WTI hit their highest since August and July 2014 respectively.
“Russia is the third-largest oil producer and second-largest oil exporter. Given low inventories and dwindling spare capacity, the oil market cannot afford large supply disruptions,” said UBS analyst Giovanni Staunovo.
“Supply concerns may also spur oil stockpiling activity, which supports prices.”
Russia is also the largest provider of natural gas to Europe, providing about 35% of its supply.
UK Prime Minister Boris Johnson vowed Britain and its allies would unleash a massive package of economic sanctions on Russia and said the West must end its reliance on Russian oil and gas.
China warned on the impact of tensions on the stability of the energy market.
“All countries that are truly responsible should take responsible actions to jointly maintain global energy security,” a Chinese foreign ministry spokesperson said.
Global oil supplies remain tight as demand recovers from pandemic lows.
Underscoring the tight market, premiums on crude contracts for loading in one month over contracts for loadings in six months , a metric closely watched by traders, hit a record high at $11.55 a barrel.
“This growing uncertainty during a time when the oil market is already tight does leave it vulnerable, and so prices are likely to remain volatile and elevated,” said Warren Patterson, head of ING’s commodity research.
Analysts believe that Brent is likely to remain above $100 a barrel until significant alternative supplies become available from OPEC, U.S. shale or Iran, for example.
The United States and Iran have been engaged in indirect nuclear talks in Vienna that could lead to the removal of sanctions on Iranian oil sales.
Iran’s top security official Ali Shamkhani said on Twitter on Thursday that it is possible to achieve a good nuclear agreement with Western powers after significant progress in negotiations.
Analysts are warning of inflationary pressure on the global economy from $100 oil, especially for Asia, which imports most of its energy needs.
“Asia’s Achilles heel remains its vast import needs for energy, with surging oil prices bound to take a hefty bite out of income and growth over the coming year,” said HSBC economist Frederic Neumann.
Source: Reuters
South Africa: NIASA To Host Nuclear Technology Conference 2022 From March 16-17
The Nuclear Industry Association of South Africa (NIASA) in collaboration with South African Young Nuclear Professionals Society (SAYNPS), Women in Nuclear South Africa (WINSA) and Southern African Radiation Protection Society (SARPA) will be hosting a Nuclear Technology Imbizo (Conference) on the 16th – 17th March, 2022 at the Cape Town International Conference Centre.
This year’s Imbizo will be devoted to “Promoting Global Strategic Partnership to Support the South African Nuclear Build Expansion Programme” and centered on sharing of lessons learnt and technology’s role in shaping the future of the South African nuclear industry.
The nuclear industry has faced many challenges in recent years including a difficult economic marketplace and overcoming the obstacles to train and educate a highly knowledgeable and skilled workforce amid a global pandemic.
The event will bring together participants all over the world, senior Executives from the key industry stakeholders and governmental representatives to energy providers to bring ideas, innovations and best practices that have made a difference in the past decade and going forward.
South Africa has experience massive load shedding from Eskom in the last couple of years including recently in 2022, the power utility coal fleet is experiencing most breakdowns and as per the IRP2019 11500MW of this plant should be decommissioned from 2030.
The much anticipated Request for Proposal (RFP) 2500MW for Nuclear New Build by end of financial is also an exciting news to the industry as NIASA believe the construction and commission of this generation capacity will provide much relieve to Eskom in terms despatchable electricity, South Africa needs to move with speed from high carbon emissions to low carbon emissions and will never be achieved without the inclusion of Nuclear Technology.
NIASA is also appreciative of the news announced two weeks ago by Necsa with regard to the issuance of Request for Information (RFI) for the Multipurpose Research Reactor (MPR).
“The Conference will provide delegates including both International and Local Companies to engage on meaningful discussions on how best to implement such projects in South Africa. There will be an opportunity for face to face meeting for any companies interested in such, therefore this is an important calendar event for Nuclear Industry in South Africa”, Mr. Gaopalelwe Santswere, Deputy President at NIASA said.
Participating organizations will have an excellent opportunity to interact with a high target audience in the nuclear industry, enabling to not only lobby for their interests, but also network and tap into resources available from Africa.
Source: https://energynewsafrica.com
AfDB Group Approves US$164Million To Promote Decentralized Renewable Energy In Ghana, Nigeria & Four Other Countries
The Board of Directors of the African Development Bank Group has approved the Leveraging Energy Access Finance Framework (LEAF), under which the Bank will commit up to $164 million to promote decentralized renewable energy in six African countries.
The $800 million program will help spur commercial and local currency investments to scale up the activities of decentralized renewable energy companies in Ghana, Guinea, Ethiopia, Kenya, Nigeria, and Tunisia.
Under LEAF, some 18 decentralized renewable energy projects are expected to be financed, providing access to six million people and businesses, resulting in 28.8 million tonnes CO2 eq. in greenhouse gas emission reductions over the lifetime of the systems.
Many African countries still face challenges in achieving universal access to sustainable, clean, affordable and reliable electricity. According to the latest Sustainable Development Goal (SDG) 7 tracking report, close to 600 million Africans lack access to electricity. As a result of the Covid-19 crisis, the number of people without access to electricity increased again for the first time in recent years.
Scaling up decentralized renewable energy (solar home systems, green mini-grids, and solar solutions for commercial and industrial use) is crucial to achieving the SDG7 objectives and requires significant private sector and local currency financing.
The African Development Bank developed the LEAF program, in collaboration with the Green Climate Fund, which approved $170.9 million in concessional financing for it in July 2021. The framework forms part of the Bank’s broader off-grid strategy under the New Deal on Energy for Africa and complements existing initiatives, such as the Sustainable Energy Fund for Africa.
The Bank’s Vice President in charge of Power, Energy, Climate Change and Green Growth, Dr. Kevin Kariuki, remarked: “The African Development Bank is delighted to partner with the Green Climate Fund on the Leveraging Energy Access Finance Framework, which will not only accelerate access to electricity based on decentralized renewable energy solutions, hence reducing the respective countries’ carbon footprints, but will do so with the active participation of a private sector facilitated by local currency financing and commercial capital availed under the program.”
Over six years, LEAF will deploy concessional finance, credit enhancement instruments and technical assistance to crowd-in private sector investors, including local banks, to finance and accelerate efforts to power the continent.
The Bank’s Acting Director in charge of Renewable Energy and Energy Efficiency Department, Dr. Daniel Schroth, added: “The approval of this program is very timely as it increases the Bank’s toolbox to support the fast-moving decentralized energy access market which complements conventional grid-connected solutions.”
Source: https://energynewsafrica.com
Refinery Explosion Threatens To Send Gasoline Prices Soaring
Gasoline prices have risen for eight straight weeks, according to new data published by Gas Buddy on Monday. And a major refinery explosion in New Orleans could threaten to send gasoline prices even higher.
U.S. national gasoline prices were on the rise early on Monday, climbing 3.2 cents from a week ago to reach $3.52 per gallon as tensions between Ukraine and Russia flared.
“With tensions still very high that Russia may invade Ukraine, gasoline prices kept moving higher, tugged by the rising price of oil as the market concentrates on possible outcomes from the situation that could affect global oil production amidst recovering demand,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
“However, with nuclear talks between Iran and global powers ongoing in Vienna, the possibility exists that a new deal could bring Iran’s crude oil supply back to legitimate markets, helping to ease a slight portion of supply concerns.”
De Haan added that the United States is a few weeks away from the traditional start of the spring surge in gasoline prices, brought on by the change to summer gasoline, seasonal maintenance at refineries and rising demand, and warned that the weeks ahead could get ugly with rising prices.
Indeed, a refinery explosion in New Orleans on Monday morning is threatening to hasten that rise in gasoline prices, as gasoline supplies could find themselves even more constrained.
The explosion shook homes and could be heard for miles.
Marathon Petroleum Corp’s oil refinery in Garyville, Louisiana, is one of the nation’s largest refineries and a major supplier of gasoline and diesel. It has a capacity of 578,000 barrels per day.
10% of that region’s refining capacity is already idle for repairs, according to Bloomberg.
Source:Oilprice.com
Nigeria: Security Agencies Grill Persons Involved In Contaminated Fuel Importation
Nigerian security agencies have begun investigations into the importation of contaminated fuel into Africa’s most populous nation.
Reports have suggested that corporations and individuals involved in the importation of the contaminated fuel are being interrogated.
Besides those who imported the contaminated fuel, energynewsafrica.com understands government officials who certified the products as fit for use are also being grilled to determine whether their action was influenced by pecuniary interest, neglect of duty or connivance for economic sabotage.
According to a report filed by Vanguard, an unnamed top security officer who is part of the investigation team noted that the inquiry into the contaminated fuel is going to be comprehensive in line with a directive by President Muhammadu Buhari.
“I can tell you that based on the order by Mr President that those behind the contaminated fuel be identified, we have invited and interrogated critical players in the oil industry who might have had one or more roles to play in the bad fuel saga.
“It is apparent that heads will roll in this matter. So far, all those invited for interrogation by security agents have been cooperating with us and have spoken of their specific roles in the matter but the probe, which is very detailed and thorough, will continue until we get to the root of the matter.
“It is obvious that anyone-whether an individual or corporate entity-who might have played a role in the importation of the polluted petrol would be severely punished to serve as a deterrent to others who might want to sabotage the interest of the country.
“The importation of the tainted petrol into Nigeria amounts to economic sabotage with grave national security implications as many vehicles have been damaged and the economy grounded owing to the sudden fuel scarcity triggered by the withdrawal of the impure petrol from circulation nationwide,” the unnamed security officer said as carried by Vanguard.
Nigerians woke up to the news of the spread of adulterated petrol being circulated across the country early this month.
However, the Nigerian National Petroleum Corporation (NNPC) Group Managing Director (GMD), Mr Mele Kyari, was quick to alert the nation of the presence of toxic petrol when he addressed the media on February 9, 2022, and revealed how and who brought it into the country.
Mr Kyari revealed that the adulterated fuel was imported into the country by four importers from Antwerp in Belgium with quality inspectors failing to detect the high level of methanol it contained, first at the point of import in Belgium and later at the point of arrival in Nigeria.
He said that the NNPC’s investigation revealed the presence of methanol in the four PMS cargoes imported by MRS, Emadeb/Hyde/AY Maikifi/Brittania-U Consortium, Oando and Duke Oil.
However, the four companies promptly denied any wrongdoing, insisting that their products were duly cleared as meeting the standard requirements before they were brought into the country.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Ghana Holds Forum To Draft National Energy Transition Plan
Ghana has begun processes to develop a national energy transition policy and strategy that will assist the West African nation to contain the shocks of the global energy transition drive.
In December last year, the country, through the Energy Ministry, set up a national energy transition Committee chaired by Dr Mohammed Amin Adam, one of the three deputy Energy Ministers, to carry out consultations for the drafting of the Energy Transition Policy and Strategy.
At a maiden stakeholders’ forum in Accra, capital of Ghana, on Tuesday, February 22, 2022, the Vice President of Ghana, Dr. Mahamudu Bawumia noted that Energy Transition is already happening, saying: “We are seeing petroleum hikes and there are many who have said that the petroleum price increase is going to remain as such high levels, we are not going to see any major declines, then how do we as developing countries like Ghana adjusts to this new reality if it becomes the new normal of high oil prices and petroleum prices and its impact on the macro variable in our respective economies.”
He noted that in some advanced countries, automobile companies have set targets of ceasing the production of fossil fuel-based vehicles to electric vehicles.
He said Ghana cannot sit and watch when the transition is already happening.
“It is clear that we need to have a plan. In many of the advanced countries, targets have been set.
“We should set a target about what we should be doing,” Dr. Bawumia said.
As part of an effort to achieve Ghana’s nationally determined contributions under the Paris Climate Change Compact, Dr. Bawumia said Ghana is shifting from thermal-based electricity generation to gas-based electricity generation.
He said Ghana would expand its gas pipeline infrastructure across the country to increase LPG consumption.
He added, “We shall increase the share of renewable into our energy mix such as wind and solar.”
Dr Bawumia, who said today’s forum would be replicated in the other regions of Ghana, urged the participants to provide meaningful contributions and input in preparation for the national energy transition plan.
Source: https://energynewsafrica.com
Ghana: GRIDCo Saves Trauma, Accident Patients At Korle-Bu Teaching Hospital
Ghana’s power transmission company, GRIDCo, has partially relieved the management of the Korle-Bu Teaching Hospital, one of the heavily patronised teaching hospitals in Ghana, the pain the facility has been going through due to inadequate power drills at the hospital’s Accident, Emergency and Orthopaedic centres.
The hospital, which serves as a referral hospital for most emergency cases in the West African nation, is supposed to have a minimum of ten power drills at the accident and emergency centre to carry out effective surgery operations yet it had only two, thus, putting undue pressure on staff and management of the facility.
Energynewsafrica.com understands that because of the inadequate power drills, the management of the hospital is sometimes compelled to cancel trauma surgeries.
The device is used for trauma surgery and also for the reconstruction of the cruciate ligament during surgery.
Making the presentation of the two devices, Mr Kofi Okofo-Dartey, Director, Strategy and Corporate Services of GRIDCo, said GRIDCo’s engagement with the management of Korle-Bu Teaching Hospital revealed the critical need of the hospital and decided to assist.
He said the donation formed part of the company’s corporate social responsibility to give back to society.
“GRIDCo is an organisation that takes corporate social responsibility very seriously. If you know the nature of our work, we transmit all over the country and our people criss-cross, so accidents are also part of our system, therefore, the need to assist,” he said.
Ghana: MiDA Illuminates 523.68km Roads And Streets In 20 MMDAsReceiving the device, the Acting Chief Executive Officer of KBTH, Dr. Daniel Ankrah thanked the company for the gesture and promised that the items would be put to good use. The Head of Department of Accident, Emergency and Orthopedics, Dr Fredrick Kwarteng said the donation came at the right time, adding that “in fact, we need an average of 10 functional drills per day because the department has three functional theatres and each theatre must have, at least, five drills so that in a day, we can fix the legs of about 15 accident victims a day. “As at last week, the department was down with only two drills because all the drills had broken down, accident victims who had their limbs broken had their operations being cancelled because the department’s drills had all broken down,” he said. Dr. Kwarteng said several patients had their surgeries cancelled due to the absence of the drill machines which had broken down. He called on other organisations to emulate the gesture and assist the hospital, adding that everyone is a possible accident victim. Source: https://energynewsafrica.com
Ghana: NPA Revokes Licences Of 20 Companies
Ghana’s petroleum downstream regulator, NPA, has revoked the licenses of some 20 companies operating within the petroleum industry for the past seven years.
The NPA’s crackdown on the companies began in 2016 to 2021.
Some of the companies operate as Bulk Distribution Companies, while the rest operate as Oil Marketing Companies and export companies.
The companies which operate as Bulk Distribution Companies but have had their licences revoked are Chrome Energy, Deen Petroleum Ghana Limited, Springfield Energy Limited, Timeless Oil Company Limited, LHS Ghana Limited, Imperial Energy Company, L.I.B Ghana Limited, Mimshack Energy Ltd, Richelle Energy Limited and Wi Energy Ltd.
The OMCs which have had their licences revoked are G&G Oil Company and Oando Ghana Limited.
The NPA has also revoked the licences of the following companies which are into petroleum products export: Energie Reference Limited, Mangifera Company Limited, Chesdea Company Limited, RE Petroleum Limited, Strata Energy Limited and Trigon Energy Limited.
Meanwhile, NPA has also revoked the licences of Emo Energy Limited which is into storage tank cleaning, Rock Everest Trading & Construction Limited into lube blending and Blue Bay which is into Bunkering.
Ghana’s petroleum downstream has been witnessing some criminal activities despite efforts being made to clean the sector.
The newly appointed CEO of NPA, Dr. Mustapha Abdul-Hamid, who has been in office barely seven months, has vowed to do everything possible to ensure that players abide by the rules of the Authority.
It is the hope of this portal that he would be able to clean the sector of miscreants who also want to beat control measures put in place.
Ghana: Five BDCs Licences RevokedSource: https://energynewsafrica.com
Ethiopia Starts Partial Power Generation From 5000MW River Nile Dam
Ethiopia has commenced power generation from its hydroelectric dam on the Blue Nile River for the first time in a bid to provide electricity for its citizens to boost economic activities.
The East African nation energised the $4.2 billion (£3.8bn) dam located in the western Benishangul-Gumuz region on Sunday, according to a BBC report.
The project has been a source of contention between Ethiopia, Egypt and Sudan since its construction started in 2011.
Sudan and Egypt fear the project could reduce their share of Nile waters.
But Ethiopia insists the dam is key to its development.
The Grand Ethiopian Renaissance Dam (GERD) is Africa’s biggest hydroelectric project to date.
The GERD is expected to generate over 5,000 megawatts of electricity, doubling the nation’s electricity output when it is fully completed.
Ethiopian Prime Minister, Abiy Ahmed inaugurated the project which is about 83.9 per cent completed on Sunday, February 20, 2022.
Abiy, accompanied by high-ranking officials, toured the power generation station and pressed a series of buttons on an electronic screen, move officials said initiated production.
“From now on, there will be nothing that will stop Ethiopia,” Abiy said.
Prime Minister Abiy Ahmed officiated an event that saw one of the 13 turbines of the Grand Ethiopian Renaissance Dam (GERD) begin power generation.
The Prime Minister sought to assure neighbouring nations his country did not wish to harm their interests.
“Ethiopia’s main interest is to bring light to 60 per cent of the population who are suffering in darkness to save the labour of our mothers who are carrying wood on their backs to get energy,” Abiy said as carried by dw.com
“As you can see, this water will generate energy while flowing as it previously flowed to Sudan and Egypt, unlike the rumours that say the Ethiopian people and government are damming the water to starve Egypt and Sudan.”
The lead engineer noted there was still work to be done.
“We just started generating power but that doesn’t mean the project is completed,” the dam’s Project Manager, Kifle Horo said.
“It will take from two and a half to three years to complete it,” Kifle added.
Egypt, which lies downstream and depends almost completely on the Nile for its irrigation and drinking water, is worried this will affect the levels of water flowing into the country.
It, therefore, wants a guarantee of a certain volume of water coming into Egypt.
However, Ethiopia is reluctant to be tied to a certain figure of how much water to release as its priority is to make sure there is enough water to operate Africa’s largest hydroelectric plant.
Sudan is also worried about how the dam will affect its water levels.
Last year, Sudan was taken by surprise when Ethiopia decided to shut three of the four diversion outlets for the water.
This led to lower levels of water going downstream which disrupted Sudan’s pumping stations for irrigation and municipal water supply.
Both countries have been vying for a deal with Ethiopia over the filling and operation of the dam but negotiations have failed to make headway.
Source: https://energynewsafrica.com