Ghana’s former presidents John Agyekum Kufuor and the late Jerry John Rawlings have been recognized for their roles in Ghana’s energy sector at the 5th Edition of Ghana Energy Awards.
The duo was rewarded with Life Time Achievement Award.
The late Ghanaian leader, Jerry John Rawlings, set up several energy institutions including the GNPC, PURC and BOST and spearheaded rural electrification projects across the West African nation.
His award was received by his daughter, Zanetor Agyeman-Rawlings.
On his part, John Agyekum Kufuor empowered the national oil company, GNPC, to spearhead exploratory activities in the country.
This led to US oil firm, Kosmos Energy, discovering oil in commercial quantities offshore the Western Region of Ghana.
During his tenure the country set up Bui Power Authority leading the construction of 400MW hydro power plant on Bui reservoir.
CITATION FOR PRESIDENT JOHN AGYEKUM KUFUOR – LIFETIME ACHIEVEMENT AWARD
Ghana’s first discovery of oil is intrinsically linked with your name – the discovery of 600 million barrels of high-quality oil at an offshore block in 2007. Although Ghana had embarked on previous oil exploration ventures, it was through your singular effort that Kosmos Energy entered the Ghanaian market and whose first exploratory well, Mahogany 1, in the West Cape Three Points block hit Ghana’s first major commercial oil. Under you, the GNPC was restructured to ensure a refocus on its core activities of exploration and the promotion of the oil and gas sector of the country.
Although construction began in 2009, the Bui Dam project, which idea was mooted in 2006 amidst significant opposition, epitomized your foresight in ensuring energy security. This was the second single largest investment in Ghana after the Akosombo dam.
Under your astute leadership and with your excellent diplomatic skills, the West Africa Gas pipeline saw the light of day. The 678 kilometers onshore and offshore high pressure transmission pipeline, which span four countries from Nigeria to Ghana helped to reduce the cost of thermal electricity generation through reduced fuel and maintenance costs and ensured an environmentally cleaner source of fuel leading to the reduction in greenhouse emissions and the development of secondary gas market for industrial and domestic use.
Your distinguishable efforts in Ghana’s energy sector have left an indelible mark on the country’s journey towards energy security. Power generation in Ghana has greatly benefited from your pioneering and immense contribution. All who have worked with you can attest to this fact.
Your stellar leadership has won you awards such as the Chatham House prize for good leadership, Germany’s highest national award, the Bundesverdienstkreuz; and Liberia’s highest award (the Grand Cordon in the Most Venerable Order of the Knighthood of the Pioneers) for helping to bring peace.
Constantly, you have demonstrated beyond all reasonable doubt that the prosperity of Ghanaians was and still your primary concern.
In recognition of your patriotism and invaluable service to your country, the Ghana Energy Awards has the pleasure to present to you the Lifetime Achievement Award.
CITATION FOR PRESIDENT JERRY JOHN RAWLINGS – LIFETIME ACHIEVEMENT AWARD
The history of Ghana’s energy sector cannot be told without mention of your name. Your administration initiated the process of reforming and restructuring the energy sector in the quest to improve operational efficiency and increase consumer access to electrical power and petroleum products. This initiative was pivotal in saving public funds as it eliminated the government’s involvement as owner and manager of energy businesses and re-focus its role on policymaking and market regulation.
Under your astute leadership, Ghana diversified its energy source from relying solely on hydro-energy, generated at Akosombo and Kpong, to include thermal energy. The Takoradi Thermal Power Station (TTPS), Ghana’s first thermal plant, is a testament to your vision. The conceptualization of the participation of Independent Power Producers through the Ghana Power Sector Development Policy was also pivotal in the development of future power generation, coordinated generation and transmission operations, development of framework electricity distribution and pricing, and formation of regulatory bodies.
At a time when only 10% of Ghanaians had access to electricity, you committed yourself to extend access to the rest of the country through the ambitious National Electrification scheme: a project that saw the Volta River Authority extend grid lines from Kumasi to Brong Ahafo, the Northern, and the Upper Regions and by taking over the distribution of electric power through its new subsidiary, the Northern Electricity Department, to Northern consumers. This singular initiative helped to slow down rural-urban migration and boosted economic development in the newly supplied areas.
The establishment of the Public Utilities Regulatory Commission and the Energy Commission attest to your foresight in pursuance of energy sector reforms at a time when the sector lacked the necessary regulatory structures. In addition to these were the creation of the Ghana National Petroleum Company and Bulk Oil Storage and Transportation Company which were crucial to the development of Ghana’s petroleum sector.
Your legacy in the Ghanaian energy sector has been immense. You understood and appreciated the role energy security would play in the fast-changing world. You laid the building blocks, consistent with changes within the domestic and global energy space, to guarantee that quality of life Ghanaians longed for.
In recognition of your devotion and invaluable service to your country, the Ghana Energy Awards has the pleasure to present to you the Lifetime Achievement Award.
Source: https://energynewsafrica.com
Leading energy and infrastructure conglomerate, Sahara Group, will invest over US$1billion to enhance access to Liquefied Petroleum Gas (LPG) in Africa and emerging economies in a bid to boost energy transition on the continent.
Temitope Shonubi, Executive Director, Sahara Group disclosed this at the African Refiners and Distribution Association (ARDA) conference 2021 in South Africa where he spoke on the role of LPG in Africa’s energy transition.
“Sahara, through its subsidiary, WAGL Energy Limited is already working towards investing $1 billion to ramp up its LPG fleet and terminal infrastructure over the next five years. In addition to the vessel fleet, Sahara is in the process of building over 120,000 metric tonnes of LPG storage in eleven countries,” he said.
According to him, the countries earmarked for the storage tanks which include Nigeria, Senegal, Ghana, Cote d’Ivoire, , Tanzania and Zambia whose process has commenced and five others in the preliminary stage
Sahara continues to lead efforts geared towards seamless energy transition in Africa through innovative energy solutions via its upstream, midstream, downstream downstream power businesses including partnerships with the United Nations Development Programme and other leading organisations.
Shonubi noted that Africa had become reliant on imports to meet its LPG demand as a result of low crude oil refining capacity and absence of adequate wet gas being processed
He said, “Africa’s refining capacity of 3,343,000 barrels per day is limited to just 20 countries; utilisation rates have fallen from about 75 per cent in 2010 to 55 per cent in 2020. Only six African nations have combined LPG storage capacity greater than 50,000MT.”
“Economic progress is key to harnessing Africa’s latent LPG demand to boost economic performance.”
He lamented that Africa accounted for just four per cent of global LPG consumption last year.
LPG consumption in Africa is low compared to other markets. Africa’s consumption was 14MT (translating to 12 kilogram per person) in 2020, compared to Asia Pacific’s108MT ((27kg/person), North America’s 74MT (123kg/person), Europe & Eurasia’s 49MT (49kg/person), Middle East’s 38MT (60kg/person) and Latin America’s 34 MT (53kgs/person).
Shonubi attributed the low LPG consumption in Africa to the hurdle of affordability, absence of large-scale LPG storage infrastructure, minimal vessels dedicated to the region, low set-up cost of firewood and kerosene stoves, as well as negative perceptions and fear of explosions due to poor safety standards, among other factors.
“While set-up costs may be high, LPG has higher energy efficiency when compared to kerosene and fuel wood and it has virtual zero sulphur content. LPG is key to achieving the UN SDG 7 – Sustainable Development Goal of Universal Access to Energy,” Shonubi said.
He said converting just 30 per cent of Africa’s vehicle fleet to run on LPG would result in $3bn annual fuel-cost savings and about 40 billion in CO2 emission reductions, while indirect cost savings from health and infrastructure would exceed $15bn annually.
On the role of African governments in encouraging LPG adoption, Shonubi canvassed an enabling policy environment to foster adequate private sector involvement and sustainability.
He said funding should be channeled into country-wide investment programmes while megaprojects and regional integration should be accelerated in order to efficiently serve a larger population and grow the economy for multiple countries.
He also advocated growing Africa’s LPG consumption, through investments in LPG infrastructure and financing of LPG use through credit schemes, Pay-as-you-use, penalty for emissions, reward for global warming reductions, inclusion of bio LPG among others.
He was very emphatic about protecting the environment today for a safer and more environmental friendly tomorrow.
He concluded that although there is a myth that cooking with fire wood churns out more nutritious meals than cooking with gas, most of such comparison remained in the mind as there are now seasoning variants that make meals taste the same.
Source: https://energynewsafrica.com
The Chief Executive Officer of the Volta River Authority in the Republic of Ghana, Ing. Emmanuel Antwi-Darkwa has been crowned the Male Energy Personality of the year at the 2021 Ghana Energy Awards held at the Labadi Beach Hotel in Accra.
He beat Elikplim Kwabla Apetorgbor, CEO of Independent Power Producers, Distributors & Bulk Consumers; Nana Amoasi VII, Executive Director for Institute for Energy Security (IES); Benjamin Boakye, Executive Director for African Centre for Energy Security (ACEP); Dr Benjamin Asante, CEO of Ghana Gas, Egbert Faibille Jnr, CEO of Petroleum Commission; Martin Eson-Benjamin, CEO of Millennium Development Authority (MiDA) ; Pankaj Bhati, CEO of Alpha; Senyo Hosi, CEO of (CBOD); Dr Yussif Sulemana, Energy Consultant /Strategist/Analyst, Michael Bozumbil, CEO of Petrosol Ghana and Rev. Ing. Oscar Amonoo-Neizer, Executive Secretary of Energy Commission.
This is the second time Ing. Emmanuel Antwi-Darkwa has been adjudged the Male Energy Personality of the Year.
In 2018, Ing. Antwi-Darkwa has crowned the Energy Personality of the Year, after beating his competitors.
This year’s Ghana Energy Awards was under the theme: ‘Digitalized Energy Sector; The Key For A Resilient Economic Future’.
In attendance were the Minister for Energy, Dr Matthew Opoku Prempeh, Former President John Agyekum Kufuor, Chief Director of Ministry of Energy Lawrence Apaalse and hosts of CEOs of both petroleum and power sector institutions.
A Civil Engineer by profession, Mr Antwi-Darkwa, has over thirty years of extensive experience in the energy industry and has detailed knowledge in the functional and regulatory influences in Ghana’s energy sector, and the dynamics of international power systems development.
He possesses expertise in strategic planning, policy formulation and evaluation, contract negotiations, as well as the development of several multi-disciplinary power projects.
He has been involved in projects such as the 400 MW Bui hydroelectric power project and the expansion of the 220MW Takoradi Thermal Power Plant.
Since taking over as Chief Executive, Emmanuel Antwi-Darkwa has championed a conscious change in VRA’s business model and organisational mindset to ensure improved operational and project implementation efficiencies.
He holds a Master of Business Administration (MBA) in International Oil & Gas Management, University of Dundee, UK, a Master of Public Administration (MPA) from Harvard University, USA, as well as a Bachelor of Science (Hons) Civil Engineering from the Kwame Nkrumah University of Science and Technology, Ghana.
Source: https://energynewsafrica.com
Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), has been described as the best regulator in Africa.
This is according to Anibor Kragha, Executive Secretary of Africa Refiners and Distributors Association (ARDA).
He noted that NPA had put in place a robust regulatory environment which is evident in Ghana’s downstream petroleum sector.
Anibor Kragha, who is based in Ivory Coast, said this when he paid a courtesy call on the Chief Executive of NPA, Dr Mustapha Abdul-Hamid on Thursday, November 18, 2021.
He commended the NPA for its resilient efforts aimed at sanitizing the downstream industry in Ghana.
“For me, NPA is the premier and best regulatory agency I have seen in the 21st century in terms of technology deployment in creating a level playing field for all operators involved in the sector,” Mr Kragha said.
He thanked the management of NPA for the continuous support to the association and for extending a helping hand to other regulators and players of the industry on the continent.
Dr Abdul-Hamid, on his part, renewed the Authority’s commitment to protecting the industry and consumers by ensuring the right initiatives are implemented for the good of the sector and the country.
Anibor Kragha (Left) Dr Mustapha Abdul-Hamid (Right), CEO of NPA
He was hopeful the industry’s best years are ahead and reiterated his commitment and that of his staff to run an efficient and results-oriented downstream industry for the gain of their partners and consumers.
Source: https://energynewsafrica.com
The Millennium Development Authority (MiDA), the agency responsible for the implementation of the Ghana Power Compact II, has commissioned the first-ever Air-conditioner and Refrigerator (AC) Test Laboratory facility for the Ghana Standard Authority in Accra, capital of Ghana.
The US$1.88 million facilities were constructed as part of activities under the Energy Efficiency and Demand Side Management (EEDSM) Project, one of four major projects which make up the US$316 million Ghana Power Compact Programme.
Air-Conditioners and Refrigeration appliances are high energy-consuming appliances, therefore, the establishment of the Test Laboratory will support Ghana’s energy efficiency agenda.
The facility will enable the Ghana Standards Authority to test and ensure that all air conditioners and refrigerators imported into Ghana meet the Minimum Energy Performance Standard (MEPS) set out in the Energy Commission’s Energy Efficiency Regulations.
The facility will also aid the effectiveness of the current Energy Efficiency Appliance Standards and Labelling regime being undertaken by the Energy Commission.
Commissioning the facility, Chairperson of MiDA Board, Prof Yaa Ntiamoa-Baidu acknowledged the Ghana Standard Authority for contributing US$45,000 towards the construction of the facility.
She said MiDA accepted a request by the GSA, following the completion of the facility and, therefore, provided a 400KVA standby generator set and a dedicated transformer which would provide backup power to the Test Laboratory and ensure uninterrupted electricity supply at all times.
She commended the Millennium Challenge Corporation (MCC), a United States agency, for providing funding for the facility and the contractor, GHS, as well as Energy Commission, ECG and EPA for their contributions.
The Deputy Director for Trade and Industry, Michael Okyere Baafi said the state-of-the-art facility, comprising an air conditioner test containment building and the testing laboratory, is the first of its kind in Ghana and the West Africa sub-region.
He said it can test 96 air conditioners and 48 refrigeration appliances annually.
“It will also ensure that appliances meet a minimum efficiency performance standard and contribute to the efficient use of electricity. It will further enable GSA to conduct tests and ensure that air conditioners and refrigerators imported into Ghana meet the Minimum Energy Performance Standards (MEPS) as per the Energy Commission’s Energy Efficiency Regulations,” he added.
He continued that the Test Laboratory is equipped with a Balanced Ambient Room Calorimeter (BARC) Test Chamber for evaluation of the capacity and performance of Room Ambient Calorimeters (RACs), which makes it compliant with the ISO 5151 Standards, thereby, further enhancing their capacity to promote standardization and energy efficiency within the sector.
“Facilities such as this creates new jobs and I expect the GSA to attract the best talent within Ghana to run this facility so that it can be profit-making in the shortest possible time. This project can offer services to other countries in the sub-region so that the GSA will make enough profit to build additional facilities,” he underscored.
He concluded that “I am happy this inauguration is happening at the time that the GSA is re-tooling and repositioning itself in the sub-region and Africa as a leader in the field with a mission to contribute towards the growth of industry, consumer protection, and trade facilitation through standardization, metrology, and conformity assessment.”
The US Ambassador to Ghana, Stephanie Sullivan said: “With this laboratory, Ghana can become a regional gateway for importing appliances that can be tested and certified domestically for meeting quality standards.”
This Laboratory will expand the capacity of the Ghana Standards Authority and the Energy Commission to assess the energy performance of appliances like air conditioners and refrigerators imported to Ghana.
“It will help ensure high energy-consuming electrical appliances meet the Energy Commission’s standards and support Ghana’s National Appliance Standards and Labeling Systems Programme,” she added.
Exclusive photos from the 5th edition of Ghana Energy Awards held at the Labadi Beach Hotel in Accra on Friday, November 19, 2021.Dr. Matthew Opoku Prempeh, Minister for Energy, Republic of GhanaMr John Agyekum Kufuor (Right), Former President of Ghana and Hon. Zanetor Agyeman-RawlingsIng. Oscar Amonoo -Neizer, Executive Secretary of Energy CommissionIng. Emmanuel Antwi-Darkwa, CEO of Volta River Authority
Environmental organizations are suing South Africa in a local high court over the government’s decision to build 1.5 gigawatts (GW) of new coal-fired power generation capacity, saying that more coal “poses significant unjustifiable threats to constitutional rights.”
“Government’s plan to procure 1500 MW of new coal-powered electricity generation will result in South Africans footing the bill for more expensive electricity, while increasing greenhouse gas emissions to levels that are incompatible with South Africa’s commitment to reduce its emissions under the Paris Climate Agreement,” Centre for Environmental Rights said on Wednesday.
The court action from environmentalists came after Energy Minister Gwede Mantashe failed to respond to a letter in September that had demanded the government abandon its plans to build new coal-fired power.
Following the lack of response from the minister, the environmental organizations say they had “no alternative but to institute these court proceedings in the public interest and in order to vindicate constitutional rights.”
“It has been shown, incontrovertibly, that renewable solar and wind with flexible generation capacity, such as storage (even under circumstances where the sun does not shine and the wind does not blow), provide feasible and affordable replacement alternatives for coal power,” says Thomas Mnguni, environmental activist and coal campaigner for groundWork.
Last week, Energy Minister Mantashe said that coal-fired power generation should continue to be part of the country’s energy mix, and he would go to court if necessary to keep the plan for new coal power plants alive.
“I know that we’re going to end up in court for it,” Mantashe said at the Africa Energy Week conference in Cape Town last week.
Debates have heated up in South Africa—a major producer, exporter, and consumer of coal—about whether the dirtiest fossil fuel should remain a pillar of its energy supply, especially in light of the climate push for countries to move away from coal.
Currently, coal is by far the major energy source for South Africa, comprising around 80 per cent of the country’s energy mix.
The country is also the world’s fifth –largest coal exporter.
Source: Oilprice.com
Ghana’s petroleum downstream industry has witnessed the entrance of a new Oil Marketing Company, TORRID Global Co. Ltd.
Officially outdoored on Wednesday, November 17, 2021, the new OMC opened its first retail outlet at Lapaz, a suburb of Accra, to serve affordable and quality fuel to motorists plying the George Walker Bush Highway in Accra.
The modern service station is equipped with island pumps, a convenience shop, a vehicle servicing lubricant centre and safety equipment.
The newest indigenous brand in the downstream petroleum sector is set to compete with both local and international fuel retail outlets by serving quality fuel and delivering a unique customer service experience to Ghanaians.
Speaking at the opening of the first retail outlet, Executive Director of TORRID, Francis Kelvin Opie said TORRID aims at becoming the go-to fuel station in the country and the energy partner of choice for Ghanaians.
He noted that the brand plans to extend its services by opening about 20 service stations at strategic locations in Ghana to serve a wider customer base by the end of December 2022.
The Corporate Affairs Manager of TORRID, Ayla Tissot gave an assurance that the brand would provide the highest standard and quality fuel, offer the most competitive prices, exhibit the utmost respect for customers and contribute to the development of Lapaz.
She entreated Ghanaians especially drivers, to spread the good news about the new station and its quality fuel.
In attendance at the ceremony were key stakeholders in the petroleum industry.
The Executive Director, assisted by National Petroleum Authority Chairman, Mr Joe Addo-Yobo, and other officials cut the ribbon to formally open the station.
Source: https://energynewsafrica.com
The Government of Ghana has announced plans to double its effort to connect more towns and communities to the national electricity grid in 2022.
The West African nation, currently, has an electricity access rate of about 86.63 per cent.
In 2020, the government-connected a total of 162 communities to the national grid.
Currently, electricity connections to 512 communities are also at various stages of completion.
Presenting the 2022 Budget in Parliament on Wednesday, the country’s Minister for Finance, Ken Ofori Atta said: “In 2022, we will work to complete many such projects, and approximately 800 towns will be connected to the national grid under the SHEP-4, SHEP-5 and Turnkey Projects.”
He added that the government would select 2,401 communities with a population of 400 and above to be connected to the national grid.
According to him, the government would also electrify island communities by constructing 10 mini-grids in 10 island communities, as well as supply and install solar home systems in 20 island and lakeside communities in 2022.
Source: https://energynewsafrica.com
Ghana’s petroleum downstream regulator, National Petroleum Authority (NPA) has donated GH¢100,000 to the Korle-Bu Teaching Hospital (KBTH) for the treatment of breast cancer patients at the National Radiotherapy Oncology and Nuclear Medicine Centre.
Dr Mustapha Abdul-Hamid, the Chief Executive Officer of NPA, presenting the cheque, said the donation formed part of the NPA Ladies’ Association activities to mark October as the breast cancer awareness month.
He said the Authority, at the initial stage of the awareness creation of breast cancer, invited experts from the National Radiotherapy Oncology and Nuclear Medicine Centre to educate its staff on breast and cervical cancer.
He added that the NPA held breast screening and organized health walks for its staff across the regions to commemorate breast cancer awareness month.
The NPA CEO pledged the Authority’s support to provide additional financial support to assist the centre to provide quality healthcare to needy patients with breast cancer.
Dr Verna Vanderpuje, Deputy Director, Consultant Oncologist of the Centre, commended the NPA for the gesture and said that was the first time the centre was receiving such a huge cash donation to support the treatment of patients at the centre.
She said it would go a long way to support the treatment of patients and appealed for additional funding, which according to her, was very critical to helping patients to fully complete their treatment procedures.
Dr Vanderpuje said because of the expensive nature of cancer treatment, most patients often abandoned their session midway and reappeared at the hospital only when their situations had deteriorated beyond any intervention.
That often led to high mortality, she said and appealed to private sector institutions and individuals to support the centre to care for the growing number of needy patients.
Source: https://energynewsafrica.com
Global energy demand will increase by 28 percent from now until 2045 due to rising economies and population, according to OPEC’s World Oil Outlook discussed at the ADIPEC energy forum in Abu Dhabi on Tuesday.
The rise in global energy demand will be “driven by global economic growth and population expansion, as well as the need to expand access to modern energy services for those billions who continue to go without,” OPEC Secretary General Mohammad Barkindo said, commenting on the outlook with estimates through 2045.
Energy demand globally is set to grow from 275.4 million boepd in 2020 to 352 million boepd by 2045, according to OPEC’s estimate of primary energy demand expressed in barrels of oil equivalent per day.
Primary energy demand in non-OECD countries will account for more than 70 percent of global primary energy demand in the long term, with growth mainly attributable to increasing populations and growing economies in Asia, Africa, and the Middle East.
In the OECD countries, energy demand is set to flatten in the long term.
“This underscores a further decoupling from economic growth due to structural changes and a policy push that continues to place increasing emphasis on energy efficiency and the deployment of low-carbon energy technologies,” OPEC said in the outlook.
After a partial recovery from the impact of the pandemic, energy demand in the OECD is set to peak in the medium term before declining by 2045 to a level similar to that seen in 2020, the cartel notes.
Renewables and natural gas are projected to contribute the most to future incremental energy demand, according to OPEC.
Renewables will be the fastest-growing energy source with its share in the global primary energy mix above 10 percent in 2045, up from just 2.5 percent in 2020. Gas will become the second-largest fuel in the energy mix in 2045, OPEC notes.
Source: Oilprice.com
The Millennium Development Authority (MiDA), the agency responsible for implementing the Ghana Power Compact II will, on Thursday, November 18, 2021, inaugurate US$1.886,981.14 million air condition and refrigerator (AC) Test Laboratory for the Ghana Standard Authority (GSA).
The facility was constructed as part of activities under the Energy Efficiency and Demand Side Management (EEDSM) Project, one of four major projects which make up the US$316 million Ghana Power Compact Programme.
The construction of the Containment Building to house the laboratory began on June 2, 2020, and was completed in May 2021.
Installation of the AC and Refrigerator Laboratory equipment, the second phase of the project, commenced in April 2021 and was completed within three months.
The inauguration ceremony signifies the formal handing over of the facility to the beneficiary institution, the Ghana Standards Authority.
The Ghana Power Compact Programme, through the Energy Efficiency and Demand Side Management (EEDSM) Project, is supporting several policy initiatives and programmes that are aimed at ensuring energy efficiency and conservation of the available energy capacity.
The establishment of an AC Test Laboratory will augment the work of the Energy Commission in enforcing Ghana’s Import Certification Scheme.
The Import Certification Scheme mandates that selected high-risk goods, including air conditioners and refrigeration appliances which are high energy-consuming appliances, be certified as having met required standards when entering Ghana.
With the commissioning of this facility, the effectiveness of the current Energy Efficiency Appliance Standards and Labelling Regime, being undertaken by the Energy Commission, will see a further boost.
Ghana’s Minister for Trade, Alan K. Kyerematen will be the Guest of Honour and will cut the ribbon and unveil the ceremonial plaque.
He will be assisted by the US Ambassador to Ghana, Ambassador Stephanie S. Sullivan. Board Chairs and Heads of MiDA, Ghana Standards Authority, GRIDCo, ECG, PURC, Energy Commission and VRA.
Source: https://energynewsafrica.com
Ghana’s apex court has dismissed an application filed by Italian oil giant, ENI and Vitol seeking to overturn a High Court order asking them to escrow 30 per cent of the sale of crude oil from the Sankofa field.
The Italian oil and gas firm and its partner, Vitol, are in disagreement with Government of Ghana over a directive by the country’s Energy Ministry, asking Eni and indigenous upstream player, Springfield E&P to unitise the Sankofa field operated by Eni and Afina discovery operated by Springfield E&P.
According to the Ministry, the two blocks straddle hence the need to unitise to ensure revenue maximisation.
But Eni and its partner, Vitol, are not convinced that there is a basis for Sankofa offshore field and Afina discovery to be unitised and have since refused to adhere to the Energy Ministry’s directive.
Unhappy with what appears to be feet dragging, Springfield E&P filed a suit at a Commercial Court in Accra and in June this year the court ruled that 30 per cent of revenue from the Sankofa oilfield be placed in an escrow account pending the final determination of the case.
Interestingly, the ruling did not settle well with Eni and Vitol and so filed a case at the International Tribunal in London to challenge the Ghana Government directive.
Energynewsafrica.com understands that Ghana, through the Attorney General, has filed responses to reliefs being sought by Eni and its partner, Vitol.
Per the ruling by the apex court on Tuesday, November 16, 2021, it means Eni and its partner, Vitol, have no option but to comply with the High Court ruling and retrospectively pay the 30 per cent from 25 June 2021 into the bank account.
Sankofa, which has been producing oil since 2017, is part of ENI’s Offshore Cape Three Points project off the Atlantic coast.
The project has reserves of roughly 500 million barrels of oil and 40 billion cubic metres of unassociated gas.
According to Springfield, the Afina block holds 1.5 billion barrels of oil and approximately 19.8 billion cubic metres of gas.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured consumers that there is enough kerosene to supply the country till 2022.
The assurance comes following speculations that there is a scarcity of kerosene in the West African nation.
Speaking to journalists Saturday, Yakubu Suleiman, National Public Relations Officer of IPMAN, urged Nigerians to desist from panicking over the perceived scarcity of kerosene.
Mr Suleiman said there is sufficient kerosene for supply.
“Do not panic as there is enough product on the ground that can last till next year,” he said.
He also applauded President Muhammadu Buhari for exercising discretion over the deregulation of the oil industry.
He called on Nigerians to redirect their attention to Liquefied Natural Gas (LNG) as the government is creating an enabling environment in the gas sector.
According to IPMAN, kerosene is selling at N350 per litre in the Federal Capital Territory (FCT) and between N420 and N450 at the black markets.
Source: https://energynewsafrica.com