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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


Source: https://energynewsafrica.com Biden Calls On Congress To Suspend Federal Gas Tax
Ayodele Calls For Better Cooperation For Improved Energy Demand &Supply In Africa
Lack of keeping accurate data for energy demand across African countries has been one of the banes affecting the improvement of power in the energy sector for optimal performance.
The Chief Operating Officer of Ibadan Electricity Distribution Company (IBEDC), Engr John Ayodele, made this assertion at the Power and Water Exhibition & Conference in Lagos on Tuesday 21st June this year.
The conference, designed to deliberate on problems bedevilling the Energy and Water sector as well as proffer solutions to tackle some of them, attracted a global audience with a common goal.
Engr Ayodele, who was a panellist at the discussant level on ‘Together for A Better Tomorrow-Regional Electricity Cooperation and Integration’, opined: “African nations should devote parts of the money used for ammunition on electricity as such move will have a direct improvement in the standard of living in the continent.”
According to him, “for Africa to be self-sufficient, we must integrate ourselves and be willing to do the needful.”
He said the Conference came up at a very appropriate time with huge responsibilities on stakeholders to look for solutions, engage in technical discussion and do a-spot assessment of the region’s opportunities in power generation and distribution.”
The IBEDC COO expressed confidence that “the event provides the opportunity for the players in the industry to be acquainted with innovations and inventions that will greatly improve our services to our esteemed customers.”
The 3-day event tagged Digitalization, Sustainability and Optimization is a brainchild of Vertex NEXT, a global business optimization solutions provider.
Source: https://energynewsafrica.com
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EU Turns To Egypt In Rush To Replace Russian Gas
Africa Must Develop Gas Resources To Spur Industrialisation-Dr Ackah“Egypt’s gas may just be the solution Europe is looking for. An already strong gas market, a new exploration drive and close ties to European countries including Italy make the country an ideal partner as the bloc seeks alternative gas supplies in 2022 and beyond. The Chamber welcomes potential partnerships such as those between the EU and Egypt, and hopes to see other agreements established with other African gas producers. At African Energy Week in Cape Town, this very topic will form the base of many discussions, with new deals expected to be signed that will increase African gas trade,” states NJ Ayuk, the Executive Chairman of the AEC. The AEC’s annual event, African Energy Week (AEW), which takes place from 18 – 21 October 2022 in Cape Town under the theme, “Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,” provides a perfect platform for more European-African energy deals to be discussed, negotiated and signed. AEW 2022 will host panel discussions, high-level meetings and various summits to discuss challenges and solutions for the African energy sector and investment opportunities across the continent’s entire oil and gas value chain. Source: https://energynewsafrica.com


