Ghana: Ebo B Quagrainie Appointed Board Chairman Of PURC
The President of Ghana, Nana Akufo-Addo has appointed Mr Ebo B Quagrainie as the chairman of the newly constituted board of the Public Utilities Regulatory Commission (PURC).
Mr Ebo B Quagrainie is currently the Director for Technical Services at Savvytech Ghana Limited, an Engineering Consultancy Company specializing and providing services to the Mining, Power and Petroleum industries in the areas of Filtration, Electrical and Electro-Mechanical Engineering.
He holds a Bachelor of Science in Electrical Engineering Degree from Yale College New Haven CT, USA, and is an expert in Software Engineering.
He was a Principal Engineer at the New York Power Authority and undertook corrective and preventive maintenance on power plants including the Niagara Falls Plant and the Indiana Point Nuclear Plant in Oswego New York.
Mr Quagrainie worked as the Head of IT Department at the Continental Acceptances Merchant Bank (now CAL Bank) where he designed the first Network of Computers and built the first indigenous Banking Software for CAL Bank.
He also worked as a Systems Engineer at British Telecom New York where he designed and maintained software for Trading Systems for the Banks.
Mr Quagrainie has also served on the board of Ghana Civil Aviation and was the chairman of the Finance Committee of the Board that secured a loan to execute the Phase II project of the airport expansion and upgrade system.
Other members of the board are Executive Secretary of PURC, Mrs Mami Dufie Ofori; Dr Kwabena Nyarko Otoo, representative of the Trade Union Congress; Dr Yaw Adu Gyamfi, representative of the Association of Ghana Industries and Mr Patrick Nyarko, representing the Consumer Protection Agency.
The rest are Professor Joe Amoako- Tuffour, Mr Ishmael Edjekumhene, Dr Nii Darko Kobina Asante, and Mrs Dora Oppong, all of whom are nominees of the President.
Source: https://energynewsafrica.com
Zambia: We’re Working To Restore Power Supply-ZESCO Assures
Zambia’s Electricity Distribution Company (ZESCO) says its team of engineers are working hard to restore power supply in areas currently without electricity.
Several parts of the country experienced power outages on Saturday following system disturbances in the Zambian Interconnected Power System, resulting in loss of generation.
In a statement, the company said its preliminary investigations indicated that the cause of the disturbance was external to the Zambian Interconnected Power System.
The company said further investigations are still underway to establish the cause of the loss of generation and subsequent nationwide blackout.
The company expressed deep regret for the development and promised to keep its customers and public informed on the ongoing restoration exercise.
— Zesco Limited (@ZescoL) November 6, 2021
— Zesco Limited (@ZescoL) November 6, 2021Source: https://energynewsafrica.com
World’s Top Coal Users Will Still Use Coal Despite COP26 Pledge
The UK, Germany, Italy, South Korea, and Indonesia are among the 40 countries that signed a pledge to phase out coal.
That seems a positive development for the climate. But on closer inspection, it appears that the global ‘coal to clean power transition’ commitment failed to rally the support of several of the world’s biggest coal consumers, including China, India, the United States, and Australia—rendering the agreement fairly impotent.
In fact, most countries that did sign the pledge at the COP26 climate summit in Glasgow have either already pledged to phase out coal, or use little of it themselves, especially when compared to the top coal-consuming nations.
In June, the UK had already brought forward its target to end coal use in electricity generation by one year to October 2024 as part of its aim to lead the world in tackling climate change.
Already in 2017, Italy announced its plans to phase out coal by 2025. Germany’s incoming government has reportedly agreed to phase out coal by 2030, eight years earlier than currently planned.
These major economies were signatories to the pledge that said, “Our shared vision is to accelerate a transition away from unabated coal power generation, as is essential to meet our shared goals under the Paris Agreement, in a way that benefits workers and communities and ensures access to affordable, reliable, sustainable and modern energy for all by 2030.”
The pledge also lacks specifics in terms of the end date for unabated coal, while analysts point out that the signatories account for just 11 percent of coal-generated electricity globally.
Despite President Biden’s loud climate agenda, the United States, where coal still accounts for 20 percent of electricity generation, did not join the pledge—even though the U.S. held last-minute talks with the UK government, during which the U.S. sought an exemption for coal-fired power plants with carbon capture and storage.
The unwillingness of the U.S. to join the pledge appears to be linked to the U.S. Administration’s efforts to pass the Build Back Better bill, The New York Times reports, citing U.S. officials.
The approval of the bill largely hinges on the vote of West Virginia Senator Joe Manchin, who is opposed to any piece of legislation that could harm coal or natural gas.
U.S. officials decided not to anger Senator Manchin further by signing onto the coal phase-out pledge, the NYT reported.
Regardless of the reasons why, the lack of broad and meaningful support for the coal phase-out plan could mean that coal won’t be phased out as quickly as COP26 would like us to believe.
Source:Oilprice.com
Ghana: ECG Working To Restore Power Supply In Parts Of Koforidua
The Electricity Company of Ghana (ECG) says its team of engineers are currently working to restore power supply to parts of Koforidua and its environs without power due to the severe rainstorm on Friday, November 5.
The ECG in the Eastern Region, on Friday, in a public notice said the heavy rainstorm that hit parts of the region caused outages within the distribution network.
It, therefore, assured customers within the affected areas that its engineers were working assiduously to rectify the faults and restore power supply to them.
Giving an update on the situation, the Eastern Regional Public Relations Officer, Mr Emmanuel Halm noted that the power supply has been restored to some areas while other areas are yet to be restored.
Source: https://energynewsafrica.com
Ghana: Fuel Adulteration: Culprits Will Be Punished-BOST MD Tells Transport Owners
The Management of Ghana’s strategic oil storage company, BOST, has met transport owners on the recent report of detection of fuel adulteration at the company’s depot in Kumasi, the regional capital of the Ashanti Region.
Ten tanker trucks, loaded with quantities of fuel from the company’s depot in Tema en route to Kumasi depot were impounded when testing revealed that the petroleum products onboard the trucks had been allegedly adulterated.
The drivers of the trucks bolted but energynewsafrica.com’s sources say the security agencies have succeeded in arresting a couple of them and are being interrogated.
At a meeting with the transport owners in Accra, on Thursday, November 4, 2021, the Managing Director of BOST, Edwin Nii Obadai Provencal expressed his unhappiness about the development.
According to a post on the company’s official Facebook page, the MD said: “No stone would be left unturned to find the culprits.”
He disclosed that though the police are undertaking the investigations, BOST, on its part, is undertaking a review of its internal systems.
He emphasised that should any staff of BOST be found playing any role in the illicit conduct, the person would face the full rigours of the law.
Source: https://energynewsafrica.com
Ghana Winning Fight Against Fuel Adulteration-NPA CEO
Ghana’s effort in curbing dirty or adulterated fuel is yielding fruits as the country’s petroleum downstream regulator has revealed a drastic reduction in fuel adulteration in the country.
According to the Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, fuel adulteration at the retail outlet has reduced drastically from 32 per cent in 2013 to 2.51 per cent as of August 2021.
“We are poised to wipe out these 2.51 per cent culprits who are still cheating petroleum consumers. This is why we are here today to tell consumers to report to the NPA anytime there is suspicion of the purchase of contaminated fuel,” he said.
Addressing stakeholders at this year’s Consumer Week Celebration in Ho, the Volta Regional capital, Dr Mustapha Abdul-Hamid noted that fuel adulteration increases the emission of harmful compounds such as carbon dioxide and volatile organic compounds that affect air quality and the environment.
The NPA’s CEO said the effects go a long way to affect the health of the workforce, harm the reputation of a fuel retailer’s brand and cost the government millions of cedis in revenue annually.
He averred that the petroleum downstream industry has always been about striking the right balance between the industry players, who are petroleum service providers and consumers.
Dr Abdul-Hamid pointed out that, since the industry wants to make a profit, the consumer wants value for their money, hence, none of them must occur at the expense of the other.
“It is for this reason that the regulator (NPA) was established to innovate and adopt strategies to ensure that the industry remains efficient and profitable while the consumers receive value for money,” he said.
He stressed, however, that fuel adulteration is a global problem and in Ghana, it has been a challenge to both the industry and regulators.
According to the Chief Executive, in a bid to tackle the problem of petroleum product adulteration, innovative strategies have been adopted, primarily aimed at improving upon the quality of petroleum products to ensure fuel supplied at final dispensing outlets is of the right quality specification to consumers.
“Among the key strategies are the revision of operating procedures in the importation, exportation, and production of fuels by petroleum service providers (PSPs) and the introduction of Petroleum Product Marking Scheme (PPMS) and Bulk Road Vehicle (BRV) tracking system to ensure that products are devoid of adulteration and meet the required specification along the supply chain.”
He mentioned that as a result of the stringent measures instituted, the retail outlet failure rate has reduced drastically from 32 per cent as of 2013 to 2.51 per cent as of August 2021.
“There are laws that provide punitive sanctions such as fines, imprisonment or both for the perpetrators of these fuel quality crimes,” he warned.
This year’s Consumer Week Celebration was under the theme: ‘Adulterated Fuels: A Menace To The Consumer And The Economy’.
The Volta Regional Minister, Dr Archibald Yao Letsa said the effects of bad fuels are many and that contaminated fuels cause engines to malfunction and come with extra cost to the consumer to restore damaged engines.
Such fuels, he said, also generate toxic fumes that pollute the air and are harmful to the health of the people.
According to him, putting in place such a programme to stem the trend is welcoming news.
He also said that a section of the petroleum industry that indulges in adulteration cheats the consumer out of what they are paying for, harms the reputation of a fuel retailer’s brand and cost the government millions of cedis in revenue each year.
He encouraged all stakeholders not to see the theme as a single duty of the NPA but rather embrace it as a collective responsibility.
The Consumer Week is intended to be observed every year to educate the public on petroleum products used as well as increase the knowledge of the consuming public on the rights and responsibilities.
Source: https://energynewsafrica.com
He stressed, however, that fuel adulteration is a global problem and in Ghana, it has been a challenge to both the industry and regulators.
According to the Chief Executive, in a bid to tackle the problem of petroleum product adulteration, innovative strategies have been adopted, primarily aimed at improving upon the quality of petroleum products to ensure fuel supplied at final dispensing outlets is of the right quality specification to consumers.
“Among the key strategies are the revision of operating procedures in the importation, exportation, and production of fuels by petroleum service providers (PSPs) and the introduction of Petroleum Product Marking Scheme (PPMS) and Bulk Road Vehicle (BRV) tracking system to ensure that products are devoid of adulteration and meet the required specification along the supply chain.”
He mentioned that as a result of the stringent measures instituted, the retail outlet failure rate has reduced drastically from 32 per cent as of 2013 to 2.51 per cent as of August 2021.
“There are laws that provide punitive sanctions such as fines, imprisonment or both for the perpetrators of these fuel quality crimes,” he warned.
This year’s Consumer Week Celebration was under the theme: ‘Adulterated Fuels: A Menace To The Consumer And The Economy’.
The Volta Regional Minister, Dr Archibald Yao Letsa said the effects of bad fuels are many and that contaminated fuels cause engines to malfunction and come with extra cost to the consumer to restore damaged engines.
Such fuels, he said, also generate toxic fumes that pollute the air and are harmful to the health of the people.
According to him, putting in place such a programme to stem the trend is welcoming news.
He also said that a section of the petroleum industry that indulges in adulteration cheats the consumer out of what they are paying for, harms the reputation of a fuel retailer’s brand and cost the government millions of cedis in revenue each year.
He encouraged all stakeholders not to see the theme as a single duty of the NPA but rather embrace it as a collective responsibility.
The Consumer Week is intended to be observed every year to educate the public on petroleum products used as well as increase the knowledge of the consuming public on the rights and responsibilities.
Source: https://energynewsafrica.com Ghanaians Lament Over Rising Cost Of Fuel
Ghanaians are lamenting bitterly over the frequent hikes in petrol and diesel prices and blaming the Government for failing to do more to lessen their hardship.
And some of the lamentations could be seen and read on some social media spaces where many consumers are venting their anger at the government after TotalEnergies adjusted its fuel prices at the pump by 10 pesewas.
Some went to the extent of sharing a video of the then-presidential candidate but now the current President, Nana Akufo-Addo, accusing the John Mahama-led administration of being insensitive by constantly increasing fuel prices and promising to reduce fuel prices if he got the opportunity to serve as President.
Others are of the view that the current administration has not kept faith with Ghanaians as promised by President Akufo-Addo when he was the largest political opposition leader.
Consumers were expecting a reduction in fuel prices due to the removal of the Price Stabilisation and Recovery Levy (PSRL).
However, that expectation has become wishy-washy as prices of petroleum products are witnessing an upward adjustment.
As of Friday, only TotalEnergies had adjusted their pump prices, and energynewsafrica.com understands the other OMCs are likely to adjust their prices during the weekend.
As at Saturday morning , Brent crude oil was trading at $82.74 while WTI was selling at $81.27
https://m.facebook.com/story.php?story_fbid=10224448848341687&id=1020960823
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Nigeria: TCN Successfully Repairs And Energizes Katampe-Central Area 132kV Underground Transmission Line-1
The Transmission Company of Nigeria (TCN) has completed the repair of the faulty portion of one of the 132kV Katampe–Central Area underground transmission cables supplying bulk electricity to TCN’s Gas Insulated Substation (GIS) in Central Area in Abuja.
In a statement signed by Mrs Ndidi Mbah, General Manager, Public Affairs, TCN said the repair works were completed and the cable energized at about 15:09hrs on Monday, 1st November 2021.
It would be recalled that a portion of the underground transmission cable line-1 that passes through the IBB Golf Club, was damaged by an excavation machine working for the Club on 23rd December 2019.
The delay in the repair of the underground cable line-1 was due to a lack of cable repair kit and expertise required to undertake the work in the country as well as the Covid-19 pandemic.
Following the successful restoration of the 132kV underground transmission cable line-1, TCN now has a bulk transmission line redundancy (N-1), which implies that if there is a sudden failure of one line, the second will be available.
The repaired and energized second underground cable line-1 also means that TCN can now supply more bulk power to AEDC.
The Katampe–Central Area 132kV transmission line-1 supplies power to AEDC for strategic areas in Abuja such as the Central Area Business District, the 3 Arm-Zone, DSS Headquarters, NNPC Headquarters, Federal Secretariat and their environs.
“TCN is committed to rehabilitating and executing new transmission projects even as it completes old ones, in line with its Nigerian Electricity Grid Maintenance, Expansion and Rehabilitation Programme geared towards putting in place a more robust transmission grid,” the statement concluded.
Source: https://energynewsafrica.com
Ghana: GRIDCo’s Corporate Communications Manager Resigns
The Corporate Communications Manager at Ghana’s power transmission company, GRIDCo, Mr Ebenezer Amankwah has resigned.
According to sources, Mr Amankwah resigned from the company last week.
It is not clear why he resigned from the transmission company but sources say he resigned to pick up a new role in one of the top banks in the West African country.
He joined GRIDCo in 2019.
Before joining GRIDCo, Mr Amankwah worked with Vodafone Ghana where he was the Corporate Relations Manager responsible for all communications and stakeholder management.
Earlier in his career, he worked as a journalist with Citi FM and later as the Corporate Affairs Manager at Standard Chartered Bank.
Source: https://energynewsafrica.com
Nigeria Vows To Reach Net-Zero By 2060, Highlights Key Role Of Gas In Energy Transition
Nigerian President Muhammadu Buhari has pledged Nigeria will cut its carbon emissions and reach net-zero by 2060, underlining the key role of gas in the country’s energy transition roadmap.
While nations such as the UK, the United States, and the European Union have set targets to achieve net-zero by 2050, Nigeria has opted to join Saudi Arabia and Russia in vowing to reach net-zero by 2060.
This target is lagging 10 years behind the recommended deadline, which the UN along with many climate scientists would like to achieve to stop global warming.
President Buhari explained on Tuesday that Nigeria is aware of the danger presented by climate change: “I do not think anyone in Nigeria needs persuading of the need for urgent action on the environment. Desertification in the North, floods in the centre, pollution and erosion on the coast are enough evidence. For Nigeria, climate change is not about the perils of tomorrow but what is happening today. Nigeria is committed to net-zero by 2060.”
The Paris Agreement has set the transition expectations in motion, thus, the countries are supposed to move away from fossil fuel to clean energy to reach a net-zero target for greenhouse gas emissions.
The Nigerian leader outlined arguments for the gas-based energy transition in Nigeria, stating: “Nigeria is actually more of a gas than an oil-producing country. Consequently, I am requesting financing of projects using transition fuels, such as gas. Nigeria has energy challenges for which, we believe, gas can be used to balance a renewable energy-based system, be it wind or sun. This would enable us to launch the long-term renewable energy infrastructure procurements and investments needed to have a sustainable energy supply.”
Many have argued that energy transition could lead to economic transformation across all sectors and Buhari seems to agree with this. However, the Nigerian leader strongly believes the transition would require infrastructure, which would need to be established and put in place to move forward with the transformation of the energy sector.
During the COP26 Leaders’ Summit, the Nigerian president indicated that the country had already developed a detailed energy transition plan and roadmap: “Our transition plan also highlights the key role that gas will play in transitioning our economy across sectors, and the data and evidence show that Nigeria can continue to use gas until 2040 without detracting from the goals of the Paris Agreement.”
Buhari emphasized that gas is the key for addressing the clean energy challenge in Nigeria and explained the country will have to incorporate an unprecedented 7GW additional renewable capacity on an annual basis to reach net-zero.
Furthermore, Buhari argued that Nigeria’s commitment to energy transition is clearly visible within the government’s project, which aims to electrify 5 million households and 25 million people with solar energy.
“In Nigeria, in the area of energy access, Nigeria’s commitment to a just transition is reflected in our initial energy compact which includes the government’s flagship project to electrify 5 million households and 25 million people using decentralised solar energy solution. This is a major step towards closing our energy access deficit by 2030,” explained Buhari.
The Nigerian leader mentioned climate change projects will now be a part of the country’s budget: “I am happy to state that the 2022 budget, which I recently submitted to our National Assembly, is the first cross-sectoral, gender and climate-responsive budget ever prepared in the annals of our history.”
According to its president, Nigeria will need financial assistance, technology transfer and capacity building from advanced international players on the energy transition scene.
“We are looking for partners in innovation, technology and finance to make cleaner and efficient use of all available resources to make a more sustainable transition in energy markets,” added Buhari.
According to Bloomberg, the Nigerian president already announced earlier this year that the country would need more than $400 billion for electricity generation, transmission and distribution infrastructure if its plans to reduce dependence on fossil fuels were to be successfully implemented.
Buhari concluded his speech by urging: ‘‘The outcome of this conference must result in quick resolution of all outstanding issues pertaining to the finalization of the Paris Agreement rulebook, adaptation, mitigation, finance, Article 6 and loss and damage.’’
Ghana: Bui Power Embarks On Major CSR Initiative
The Bui Power Authority (BPA) has supplied 39 fishing ponds to 117 people whose livelihoods were earlier affected due to construction of the Bui Hydroelectric Project.
The 117 people were in 39 groups and opted for a Fish Raising module under the Authority’s Livelihood Enhancement Project II (LEP 2) initiative for Project Affected Persons (PAPs).
This initiative forms part of efforts to restore and further improve the livelihoods of PAPs after construction of the Bui Hydroelectric Project. The Resettlement Township Part B consists of the Bui, Dokokyina and Bator-Akanyakrom communities.
“The handing-over ceremony at the Bui Resettlement Township B in the Bono Region saw 117 PAPs 3 to each pond – the ponds stocked with each Group’s preferred fish species; i.e., either 1,000 catfish fingerlings or 500 tilapia fingerlings.”
Chief Executive Officer (CEO) of BPA, Samuel Kofi Dzamesi, acknowledged the sacrifice of Resettlement Communities – who through a series of consultations and engagements, agreed to be resettled from their previous settlements to the pave way for what we now see and call the Bui Generating Station, which is producing electricity to the benefit of all Ghanaians.
He charged beneficiaries of the raised fishponds to grasp and run with the initiative to improve on their livelihoods which, he said, is part of government’s agenda of job creation.
Board Chairman of BPA Kwasi Ameyaw-Cheremeh (MP, Sunyani East) said he is impressed with the livelihood enhancement modules initiated by BPA to help the PAPs, and believes they will give them sustainable livelihoods. He added that the Bui Power Authority will be doing more to help the PAPs.
For his part, Samuel Kofi Dzamesi lauded the automated mechanisation of the module’s operation, and remarked that it presents a modernised way of engaging with the age-old craft of fishing.
The Chief of Bui, Nana Kwadwo Wuo II, thanked the BPA Board of Directors for their continuous support to Bui Resettlement Township, and requested that the Authority do more to improve living conditions for the indigenes. The Authority has also constructed 30 more fishponds to cater for PAPs with a similar LEP interest at Resettlement Township A in the Savannah Region.
Modules under the LEP II for the Resettlement Communities were instituted to supplement existing professions of the beneficiaries, hence affording them the chance to make some extra income and become self -sufficient.
Aside from the Fish Raising Module, Artisans, Service Providers and Pottery have also been empowered and equipped under the LEP II to start businesses under these careers.
In addition, Event Management, Tractor Mechanisation, Fishing & Fishmongering modules have also been instituted for PAPs who expressed the desire to engage in such businesses to enhance their livelihoods.
Source: B&FT
He charged beneficiaries of the raised fishponds to grasp and run with the initiative to improve on their livelihoods which, he said, is part of government’s agenda of job creation.
Board Chairman of BPA Kwasi Ameyaw-Cheremeh (MP, Sunyani East) said he is impressed with the livelihood enhancement modules initiated by BPA to help the PAPs, and believes they will give them sustainable livelihoods. He added that the Bui Power Authority will be doing more to help the PAPs.
For his part, Samuel Kofi Dzamesi lauded the automated mechanisation of the module’s operation, and remarked that it presents a modernised way of engaging with the age-old craft of fishing.
The Chief of Bui, Nana Kwadwo Wuo II, thanked the BPA Board of Directors for their continuous support to Bui Resettlement Township, and requested that the Authority do more to improve living conditions for the indigenes. The Authority has also constructed 30 more fishponds to cater for PAPs with a similar LEP interest at Resettlement Township A in the Savannah Region.
Modules under the LEP II for the Resettlement Communities were instituted to supplement existing professions of the beneficiaries, hence affording them the chance to make some extra income and become self -sufficient.
Aside from the Fish Raising Module, Artisans, Service Providers and Pottery have also been empowered and equipped under the LEP II to start businesses under these careers.
In addition, Event Management, Tractor Mechanisation, Fishing & Fishmongering modules have also been instituted for PAPs who expressed the desire to engage in such businesses to enhance their livelihoods.
Source: B&FT Ghana: NPA CEO Engages Stakeholders In Eastern Region
The Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has engaged stakeholders in the petroleum industry in the Eastern Region of Ghana to familiarize themselves with the operation of the organization.
The engagement was to, among others, know the industry players and “understand their sentiments to be able to craft and execute a vision that resonates with the people within the organization.”
This is his first visit to the Eastern Region after assuming office about four months ago.
During his interaction with the media, Dr Hamid disclosed that the organization has already engaged some stakeholders including LPG marketers, Oil Marketing Companies, Tanker Drivers and Owners, Civil Society Organizations and others.
According to him, the industry is huge and contributes six per cent of the country’s Gross Domestic Product (GDP).
He said it is as a result of that, that the leadership of the NPA has been embarking on stakeholders’ consultations in the past four months and has promised to do more.
Dr Abdul-Hamid added that, as part of knowing the various organizations, the NPA has already had management retreats as they go about executing their mandate.
He said in the bid to prevent people from violating the rules of the NPA, they will engage the various security agencies to help get rid of that.
He affirmed that they are determined to strengthen their stakeholder relations to help them to do the kinds of work they intend to do.
The visit also took the CEO to the Eastern Regional Police Command at the Regional Police headquarters at Galloway, where he discussed with the security capo issues of cooperation between the NPA and the Ghana Police Service in terms of providing security for industry players, and help in the fight against fuel diversion, smuggling and other related irregularities that may occur in the course of doing business.
Reacting to prices of fuel in the country, he said, “We have done what is within our remit per law, which is that, we appealed to the President and being the sensitive President that he is, he agreed that the price stabilization and recovering levy be suspended for two months. The intended purpose of that suspension was so we could stabilize prices.
“I’m sure you know what the world’s situation is as far as petroleum prices are concerned. Everything is going up on the international market and so to that extent, we thought that this price stabilization and recovery levy was put there specifically for this purpose.
“So, we have done our bit and we were hopeful that in the November window, we do not see astronomical jumps at the pumps.”
However, Dr Hamid insisted the strategy of the NPA is working, having been able to stabilize the prices of fuel.
After the media interactions, he toured some of the fuel stations in Koforidua to check the works being done on the field.
Source: https://energynewsafrica.com
He affirmed that they are determined to strengthen their stakeholder relations to help them to do the kinds of work they intend to do.
The visit also took the CEO to the Eastern Regional Police Command at the Regional Police headquarters at Galloway, where he discussed with the security capo issues of cooperation between the NPA and the Ghana Police Service in terms of providing security for industry players, and help in the fight against fuel diversion, smuggling and other related irregularities that may occur in the course of doing business.
Reacting to prices of fuel in the country, he said, “We have done what is within our remit per law, which is that, we appealed to the President and being the sensitive President that he is, he agreed that the price stabilization and recovering levy be suspended for two months. The intended purpose of that suspension was so we could stabilize prices.
“I’m sure you know what the world’s situation is as far as petroleum prices are concerned. Everything is going up on the international market and so to that extent, we thought that this price stabilization and recovery levy was put there specifically for this purpose.
“So, we have done our bit and we were hopeful that in the November window, we do not see astronomical jumps at the pumps.”
However, Dr Hamid insisted the strategy of the NPA is working, having been able to stabilize the prices of fuel.
After the media interactions, he toured some of the fuel stations in Koforidua to check the works being done on the field.
Source: https://energynewsafrica.com Nigeria Reviews Licences Of Discos, Gensos, Due To Poor Services
Nigeria has commenced reviewing of the operational licences of electricity generation (GenCos) and distribution companies (DisCos) due to poor service delivery in the sector.
Nigeria’s power sector was partially privatised in November 2013 with the government handing over the ownership of the DisCos and a large number of GenCos to the private sector.
Despite this, however, the power supply remains poor with the government having to bail out the sector with almost N2 trillion due to poor financial state.
In a statement to mark his 50 days in office, the country’s new power Minister, Engr. Abubakar Aliyu explained that the government was aware of the challenges facing the sector and was working to resolve them.
He stated that the government was “working tirelessly as we explore opportunities that will, in the short term, deliver the much-desired quick wins whilst still focusing on the long-term objectives of increasing the available power, improving the quality of services, attracting the much-needed investment, promoting efficiency, competition and growth and lastly ensuring transparency and accountability in the value chain of the power sector.
“The Ministry is intensifying performance monitoring of the licensees and the licensing regime, especially their revised Performance Improvement Plans (PIP) to have a better understanding of why some critical stakeholders are performing below expectation.
“We shall be taking a careful and detailed look at issues of policy, capacity and the technical requirement, amongst other things.
“One very critical concern that we must address in this performance monitoring process is to find out if the terms for granting of licenses were onerous,” he added.
Ghana: Gov’t Cautioned Against Kicking Out Foreigners From Downstream Petroleum Sector
A former Chairman of the Association of Oil Marketing Companies in the Republic Of Ghana, Henry Akwaboah, has cautioned that any move by Ghana to aggressively implement a local content law on the downstream sector could dwindle investor confidence in the country.
According to him, if the Government of Ghana fails to revise the intended plan, it may have adverse effects on efforts to attract foreign direct investment into the country.
“We have to remember that all these multinational companies came at a time when Ghanaians did not have the financial resources and the capacity to operate the sector and to me, if many years down the line, you’re now saying to these multinationals or foreign companies that Ghanaians have come of age, therefore, pack bag and baggage and leave the industry, we are setting a bad precedence,” Mr Akwaboah said in an interview with Accra-based Citi News and monitored by energynewsafrica.com.
The National Petroleum Authority (NPA) had earlier indicated a policy to exclusively reserve the importation, distribution and sale of refined petroleum products in Ghana for indigenous companies.
Even though no specific time has been stated for its implementation, the NPA says it would be implemented progressively to allow foreign-owned Bulk Distribution Companies and Oil Marketing Companies to recover the full value of their assets.
However, Mr Akwaboah, a former Manaing Director of Engen Ghana Limited believes that the move might trickle down and negatively impact other sectors of the economy if it isn’t properly managed.
“I think the government has to tread cautiously because this can have a serious backlash for all the foreign direct investment that we’ve been going out to campaign for, not just at the government level but even at our levels as there are discussions about having people invest in the oil sector and other sectors. So we don’t have to send the wrong signal to the rest of the world that when you come and invest in Ghana, some years down the line, you’re going to be asked to leave and give Ghanaians the chance.”
Source: https://energynewsafrica.com