South Africa: Libya’s Oil and Gas Minister Mohamed Aoun To Lead Libyan Delegation To African Energy Week
Libya’s Minister for Oil and Gas H.E. Mohamed Aoun has confirmed participation in the African Energy Week (AEW) 2021, scheduled between November 9-12, in Cape Town, South Africa.
This was announced by African Energy Chamber, organiser’s of African Energy Week 2021.
Uniting Africa’s top oil and gas producers, financiers, service companies, policy makers and traders under one comprehensive and market-driven program agenda, AEW 2021 represents the ideal platform where the discussion on the future of hydrocarbons in Africa will be made.
In line with the event’s objective of ensuring Africa’s hydrocarbon resources are fully utilized to make energy poverty history by 2030, H.E. Mohamed Aoun will lead a strong discussion on Libya’s energy potential, ongoing regulatory reforms, and its strategic value within global energy markets.
Representing one of Africa’s top oil producing nations, and a sector that has seen significant reform in 2021, Libya has garnered interest from global players due to the recent return to stability under the Government of National Unity.
With the Ministry having been restored this year, Libya is poised to experience accelerated energy sector investment and development, driven by sector alignment and integration.
Libya’s oil reserves are estimated at over 43 billion barrels, placing the country as the ninth largest reserve holder worldwide. Additionally, the country boasts over 1 trillion cubic meters of natural gas reserves, positioning Libya as a hydrocarbon hotspot.
Despite ongoing struggles to revive the sector, the country has managed to maintain production levels by above 1 million barrels per day. With ambitious plans to significantly scale up production and refining capacity, the Ministry is focused on attracting significant levels of investment in the sector.
Accordingly, led by H.E. Aoun, Libya will be coming to AEW 2021 to promote the potential of Libya’s energy resources, making a strong play for investment and regional collaboration.
Libya’s energy sector revival will not only bring significant benefits for the population but will open new and improved export opportunities to global markets. Attributed to the country’s strategic position, and direct network chain to European markets, the country is well positioned to enhance Africa’s export potential and drive global supply.
Ghana: Nuclear Power Ghana Hosts AGI Summit Raffle Winners
The Nuclear Power Ghana (NPG) on Wednesday, hosted winners of its raffle drawn at the 2021 Ghana Industrial Summit and Exhibition (GISE) held at the Accra International Conference Centre (AICC) in August this year.
According to the Public Affairs Manager of NPG, Bellona-Gerard Vittor-Quao, the invitation of the winners to the facility formed part of their public engagement activities and knowledge sharing on Ghana’s Nuclear Power development efforts to establish a Nuclear Power Plant in Ghana.
She stated that, the introduction of nuclear power requires a social license that must be obtained among satisfying other technical conditions and the completion of actions on the 19 infrastructure issues in establishing such programme.
She emphasised that the supply of commodities, services, and components to construct and operate the nuclear facility require the involvement of industries that can comply with nuclear codes, standards, and quality requirements.
Ms. Vittor-Quao said, it is therefore important that industry owners and players are engaged to understand the requirements, guided to prepare adequately to explore the opportunities available in the power generation project.
She added that, government is passionate about the local content component and our industries must be appropriately positioned to play key roles. The winners were invited to the GAEC facilities to also expose them to the existing uses of nuclear applications in the agriculture and health sectors that Ghana has been involved with since the 1960s.
As part of their winning packages, the five winners including their business team members numbering about twenty-four, whose background are in Small and Medium Enterprise, toured the Ghana Research Reactor Centre, Accelerator Research Centre, and the Radiation Technology facilities at the Ghana Atomic Energy Commission (GAEC).
In a welcome address by Ing. George Dzotepe, on behalf of the Executive Director, the winners were encouraged to link up with NPG to undertake an assessment of their business capabilities and potentials using the nuclear standard and requirements as part of their preparedness to contribute to the power project.
Other NPG and GAEC officers who took the winners through their operations and various Phases and stages of the Nuclear Project development include Ing. John Avor, Mark Sarfo, Dr Henry Cecil Odoi, Dr Christian Nuviadenu, and Dr Mavis Owureku.
Source: https://energynewsafrica.com
Vivo Energy Demonstrates How Being Competent And Prepared Results In A Safer Workplace
Vivo Energy, the pan-African retailer and marketer of Shell and Engen-branded fuels and lubricants, has held its annual Safety Day across the whole company, reinforcing the importance of Health, Safety, Security, Environment & Quality (HSSEQ) at Vivo Energy.
Safety Day is an opportunity for all employees and contractors at Vivo Energy to refocus on the importance of HSSEQ.
This year’s event ─ “Competent + Prepared = Safer” ─ invited colleagues to record examples of visible safety leadership they had experienced across the business. Over 1,200 entries were submitted, across a range of categories including the environment, health, product quality, reputation, safety and security.
The leading examples of safety improvement in each of these categories have been showcased and shared across to Group, to encourage replication of this best practice.
Commenting on Safety Day, Grant Bairstow, Head of HSSEQ for the Vivo Energy Group said: “Safety is integral to our business and Vivo Energy’s long-term success in Africa. I am delighted to report we have continued to perform well against all of our key HSSEQ indicators this year.”
In addition to employees sharing examples of visible safety leadership, each market has developed a programme of activities to remind their employees to focus on HSSEQ, culminating in physical and virtual events this week.
The Managing Director of Vivo Energy Ghana, Mr. Ben Hassan Ouattara added: “Our ultimate ambition is to achieve a world-class safety culture, where HSSEQ is fully integrated into our ways of working for all Staff and Contractors at Vivo Energy. Whilst safety is embedded across the company, our annual Safety Day provides a moment for all our teams to ensure we are doing everything we can to achieve our aim of ‘Goal Zero’ – no harm to people and minimising our impact on the environment. All Class of Business/ Function and Contractors work activities have been risk assessed, effective controls and barriers are in place and being managed by our safety critical persons, for a safe working condition for all.”
Vivo Energy Ghana was adjudged the winners of the Positive Safety Observation, Reputation Award Category with its STOP, THINK & DRIVE road safety campaign in partnership with its Transporters and the National Road Safety Authority. The campaign is aimed at improving road safety consciousness among high risk commercial drivers and motorcyclists to provide safer transport services to commuters.
Vivo Energy continues to work hard to achieve its HSSEQ goals in order to make continued progress towards its vision of becoming Africa’s most respected energy business.
Source: https://energynewsafrica.com
Vivo Energy continues to work hard to achieve its HSSEQ goals in order to make continued progress towards its vision of becoming Africa’s most respected energy business.
Source: https://energynewsafrica.com South Africa: Eskom Wants Greater Support From Law Enforcement Authorities To See More People Imprisoned- André de Ruyter
South Africa’s power utility company, Eskom’s Group Chief Executive André de Ruyter says his outfit would have liked to see greater support from law enforcement authorities in the country to see more people in jail as the organisation is clamping down on corruption.
Speaking at the opening session of this year’s Enlist Africa formerly Africa Utility Week, Mr de Ruyter gave an exclusive update on the progress that is being made on the five-point turnaround plan for South Africa’s national utility, stating that they are “holding people accountable and are making progress from a corruption perspective and a consequence management perspective.
“We have seen some Eskom employees being disciplined, being arrested, money being attached and forfeited to the state, people that we have caught for engaging in corrupt activities. Have we won the war as yet? No. But I think more and more the signal is getting out to those miscreants who are seeking to enrich themselves at the expense of South Africa and Eskom, that crime doesn’t pay, and that we will get them in the end.”
The Eskom five-point recovery plan includes achieving operational stability, improving income statements, strengthening the balance sheet, embarking on organisational restructuring and improving the culture.
Eskom Sales Have Recovered.
In a frank conversation with Enlist Africa’s Content Director, Claire Volkwyn, de Ruyter said operationally, the organisation was also doing better:
“It’s a new initiative, so visible, feeling leadership boots on the floor. We are insisting that our power station managers don’t manage from behind the desk, but rather go out and lead from the front.”
The Eskom GCE further reported that from an income statement perspective, the utility was making good progress.
“Sales have recovered remarkably well. After the COVID-19 pandemic, we saw a big decrease in our sales over the last financial year. But this year to date, I have to say that sales have recovered very strongly, which is a good sign for the economy overall. So demand is strong.”
Africa’s Energy Transition: Eskom’s Share In Emissions
Enlist Africa has a strong focus on the upcoming UN Climate Change Conference (COP26), taking place in Scotland in November, and de Ruyter also addressed Africa’s energy transition and the role that Eskom is expected to play in what many feels should be a ‘just energy transition,’ considering, in particular, how the coal industry will be affected.
“As Eskom”, he explained, “we are responsible for about 25% of African carbon emissions; so, we are a very significant contributor to the carbon footprint of the continent. If we can show the way to a cleaner and greener energy future, I think there’s a real opportunity for us to demonstrate that.”
To watch the rest of the keynote interview with André de Ruyter, register on the Enlist Africa-Connect platform by clicking here. The event is on till Thursday, 28 October.
Formerly known as African Utility Week, Enlist Africa is providing practical solutions to prepare the continent for a NetZero reality. The programme looks at various ways to achieve this; from LNG as a transitional energy source, municipal energy independence, e-mobility, and how Africa is preparing for, and what it is expecting from, the COP26 summit.
Africa Is Ready To Go Into Action
“For all of Africa, we must start with a clear signal to the world that we are ready to start the implementation of the Paris Agreement, we are ready to go into action,” was the declaration this morning of Tanguy Gahouma-Bekele, chairman of the African Group of Negotiators on Climate Change, who will represent the continent’s 56 nations at COP26 in Scotland next month.
As part of the Enlist Africa keynote session, the Gabonese climate negotiator explained Africa’s position at the climate conference, saying the continent is not responsible for the current situation: “Even if reducing emissions is very important, we also need to be clear and say to the world that Africa has very low emissions, but we already feel climate change in our towns and our cities. For us, it’s to help us to fight against all the consequences of climate change.”
He added: “For Africa, the two priorities are really to stop the rise of emissions, because today, we are far from the 1.5 °C or the 2 °C, which are the targets of the Paris Agreement. All the NDCs (nationally determined contributions) already released this year, prove that we will continue to emit 10% more in 10 years; but we need to reduce that by 40% in 10 years, as we cannot deal with that in Africa where we are already facing some amazing disasters.”
Source: https://energynewsafrica.com
TotalEnergies Says High Gas Prices Could Last Into Spring As Profits Surge
TotalEnergies said high gas prices in Europe and Asia could last into spring as the French energy group reported a sharp rise in third quarter earnings on Thursday on surging power prices.
The company’s third-quarter adjusted net profit soared to $4.8 billion, from just $848 million last year, from core earnings that more than doubled to $11.2 billion.
CEO Patrick Pouyanne told reporters that low supplies and sustained strong demand would likely keep gas prices high in Europe and Asia until next spring, though they should start to ease off after the winter.
The group, which is aggressively expanding into electricity and renewable energy, estimated its production of gas and crude oil would reach their highest levels since the second quarter of 2020.
It said it should produce between 2.85 and 2.9 million barrels of oil equivalent per day (mboepd) in the last three months of 2021, after it reached 2.814 mboepd in the third quarter.
TotalEnergies also predicted its average sales price for liquefied natural gas (LNG) would rise to more than $12 per million British thermal units (MMBtu) in the last quarter, from $9.10 in the previous three months.
The company confirmed plans to buy back $1.5 billion worth of shares over the final three months of the year, which it had announced in late September on the back of the high power prices.
WIND IN THE SAILS
Buoyed by high gas prices, TotalEnergies said its net investments this year should reach close to $13 billion, at the top of a range it announced earlier in the year.
The company, which rebranded last spring, aims to be one of the world’s top five renewable power producers by 2030, though meanwhile it continues to dedicate some three-quarters of its investments to oil and gas.
Like its rivals, TotalEnergies has come under pressure from climate campaigners and some shareholders to speed up the shift from fossil fuels to cleaner sources of energy.
Pouyanne said he had “no doubt” the company would reach its 2030 target of 100 GW in renewable energy production capacity, as it looks to add a further 6 GW next year.
He said the company could grow quickly in offshore wind, and would consider buying smaller renewable energy developers.
Source :Reuters
The Gambia Commissions $700M Sub-station Project
The Gambia has commissioned a $700 million Soma sub-station as part of the government’s efforts to address electricity constraints facing the West African nation, as well as Senegal and Guinea Bissau.
The President of The Gambia, Adama Barrow, who commissioned the sub-station, said the project has an international character and attracts the kind interest of The Gambia, Senegal, Guinea, Guinea Bissau and the West African sub-region.
“I am hopeful that its significance and impact will be positively felt and welcomed within the sub-region. As a result, its successful completion deserves endorsement and commendation in the African continent and it should serve as a reference point and source of inspiration and emulation,” President Adama Barrow said as carried by local online portal, The Point.
Mr Barrow stated that the project would continue to strengthen the countries’ relations and cement the bond of solidarity among the four countries.
“If there was a need for a piece of evidence to indicate that south-south cooperation could work or that African could unite, work together and develop the African continent to march other continents, this project will certainly be sufficient for the purpose. With this view, I congratulate all those that contributed to the completion of this project.”
He continued that in perusing his target of providing energy for all by 2025, The Gambia government continues to pay attention to people in the rural area, saying this guided the selection of Soma as the location of the sub-station.
Mr Barrow said the Soma sub-station has an overall generation capacity of 225/30 kV, adding it is one of the 15 substations in a loop of OMVG energy projects. He said its power supply would be generated from the clatter and suavity hydroelectric plant in Guinea.
The President of Senegal, Macky Sall, who attended the commissioning ceremony, thanked President Barrow for the warm hospitality and expressed delight in attending such an important event in the sub-region.
He said the interconnection of the Soma sub-station would reach The Gambia-Senegal border towards the Kaolack sub-station and from Soma towards the Tanaff substation.
“President Barrow is playing a crucial role in the OMVG project. The interconnection is very important because the electrification will reach both Senegal, The Gambia, Guinea and Guinea Bissau. The relations between The Gambia and Senegal, there will be 50 megawatts that will come from Senegal for the development of the Gambia.”
The President of Guinea Bissau, Umaro Sissoco Embalò thanked Mr Barrow and expressed a similar sentiment for taking part in the commissioning of the sub-station that links the four countries. “We have to join our efforts and work together for the development and the prosperity of our people. The inauguration of this important energy project is a step in that direction we all continue to work and build peace and stability for all.” Source: https://energynewsafrica.comPresident Barrow officially inaugurates OMVG Soma Sub-station which will address the country's electricity deficit. pic.twitter.com/n9cUXreUFq
— State House of The Gambia (@Presidency_GMB) October 23, 2021
The World Needs To Keep Investing In Oil Production To Avert A Crouch Even As Energy Transition Is Underway.
It has been established that the use of fossil fuels is severely damaging our environment. Fossil fuels cause local pollution where they are produced and used, and their ongoing use is causing lasting harm to the climate of our entire planet. However, altering our ways fully has been a great challenge (Gross , 2020).
Oil production may phase out eventually, but that won’t be in the near future. Even if demand doesn’t peak, companies like ExxonMobil Corporation and Royal Dutch Shell Plc need to keep investing tens of billions of dollars every year into fossil fuels just to stand still. Presently, many investors would prefer to take that cash in dividends, or see it channeled into renewables (Herron & Smith, 2021).
A recent report from the International Energy Agency established the fact that the oil and gas industry as a whole spent just 1% of its capital expenditures (money spent on physical things) on clean energy (Domonoske, 2020). This implies oil production will be the cash flow to sustain renewable energy investments. Thus, oil production is the backbone of clean energy. This cycle can take another 25-40 years depending on the continent and technology advancement.
Many experts almost believed that the COVID-19 outbreak was the beginning of the end for oil production. The idea that the pandemic was a blessing in disguise for the energy transition and could help save the planet is quite a misguided thought. Firstly, distorting the world’s economy is not the best strategy to deal with climate change. A surge in oil-prices would be a big economic turmoil for a world still recovering from the pandemic, especially in developing countries where the effect will be felt harder.
The hard truth is that there is still not a complete substitute for oil in terms of its availability and fitness for purpose. Although the supply could be limited, oil is still in abundance with many untapped resources and the technology to extract it continues to improve, making it ever-more economic to produce and use. The same is also principally the case for natural gas (Gross, 2020).
OPEC has identified oil production concerns mainly in light of the pandemic. The question of how production capital today could sow the seeds for extreme volatility down the road still remains. The key focus should be placed on determining which investments can produce the lowest cost and lowest emitting barrels of oil and units of gas (Barkindo, 2021). Thus, oil production should still remain constant but with more efficient methods to reduce emissions.
Climate change activists may have enjoyed some key milestones in recent times, including an activist hedge that managed to elect three new directors to Exxon’s board in a direct rebuke to Exxon’s oil-centric investment plans, and a ruling from a Dutch court ordering Royal Dutch Shell to lower emissions.
However, in the light of all these exhilarations, reality cannot be eluded. Which is, unless the world’s governments and consumers (especially Africa) make significant changes enough to ignite an instantaneous shift in corporate plans, oil and gas companies are really not on track to move their investments as rapidly as analysts say the planet requires. Even among European companies where the push has been more, green investments so far have been overshadowed by their investments in oil and gas.
Below is a graph comparing new investments in oil and gas as against new investments in renewables based on current and historical company portfolios.
To conclude, Oil and Gas companies play a major role in the energy transitioning process. As such they cannot go broke and must stay relevant. One way they can stay alive is via the production of more oil to maintain a healthy cash flow.
However, they will need to do this with less carbon emission methods. Oil production is a great avenue to support and popularize the push for clean energy. We have seen this via the offshore wind technology.
Even though other sources of clean energy do not greatly affect climate like oil, they are quite expensive especially in developing countries and also taking time to be deployed on a global scale. There needs to be a streamlined change management procedure which must be realistic and agreed by governments, consumers, oil companies and green energy activists.
About The Writer
Dr. Babajide Agunbiade is a businessman, Investor and one of the world’s leading offshore production experts with over 20 years’ experience in the Oil industry. As Director for Houston-based National Oilwell Varco, the largest oilfield equipment manufacturing company globally, he has been responsible for several major and groundbreaking projects across Africa and the Gulf of Mexico.
He leads Business Development activities in the design and engineering of subsea production systems, with a particular focus on flexible pipeline system and has won and completed nearly two billion dollars ($2B) offshore projects.
Formerly a principal Engineer at General Electric Gasification Business Group Dr. Agunbiade holds a Ph.D. in Leadership & Business, a Bachelor of Science degree in Industrial & Production Engineering from the University of Ibadan, Nigeria, an MBA in Business Management from the American InterContinental University, Houston, Texas, as well as being a Ph.D. Scholar in Environmental Policy at Texas Southern University, amongst others.
To conclude, Oil and Gas companies play a major role in the energy transitioning process. As such they cannot go broke and must stay relevant. One way they can stay alive is via the production of more oil to maintain a healthy cash flow.
However, they will need to do this with less carbon emission methods. Oil production is a great avenue to support and popularize the push for clean energy. We have seen this via the offshore wind technology.
Even though other sources of clean energy do not greatly affect climate like oil, they are quite expensive especially in developing countries and also taking time to be deployed on a global scale. There needs to be a streamlined change management procedure which must be realistic and agreed by governments, consumers, oil companies and green energy activists.
About The Writer
Dr. Babajide Agunbiade is a businessman, Investor and one of the world’s leading offshore production experts with over 20 years’ experience in the Oil industry. As Director for Houston-based National Oilwell Varco, the largest oilfield equipment manufacturing company globally, he has been responsible for several major and groundbreaking projects across Africa and the Gulf of Mexico.
He leads Business Development activities in the design and engineering of subsea production systems, with a particular focus on flexible pipeline system and has won and completed nearly two billion dollars ($2B) offshore projects.
Formerly a principal Engineer at General Electric Gasification Business Group Dr. Agunbiade holds a Ph.D. in Leadership & Business, a Bachelor of Science degree in Industrial & Production Engineering from the University of Ibadan, Nigeria, an MBA in Business Management from the American InterContinental University, Houston, Texas, as well as being a Ph.D. Scholar in Environmental Policy at Texas Southern University, amongst others.
Eni Loses Court Case Against Ghana, Springfield E&P
A High Court in Accra, capital of Ghana, has dismissed a suit filed by Italian oil and gas major, Eni, against Ghana’s Attorney General and Ghanaian upstream player, Springfield Exploration & Production Limited.
Eni Ghana Exploration & Production Limited and Vitol Upstream Limited in April 2021, went to court seeking a judicial review of a directive by Ghana’s Ministry of Energy asking them to unitise the Sankofa field and the Afina Oil Block in West Cape Three Points Block 2 Area (WCTR2) operated by Springfield.
They wanted a “declaration that the purported directives of the Minister for Energy dated 14th October and 16th November 2020, purportedly in posing terms and conditions for the unitization of the Afina Oil discovery in West Cape Three Points Block 2 Area (WCTR2) and Sankofa Cenomanian Oil Fields Sankofa field in offshore Cape Three Points Area (OCTP) are illegal.”
The plaintiffs were also seeking a “declaration that the Minister did not follow due process of law in issuing the purported directives.”
Again, the plaintiffs wanted an “order of interlocutory injunction restraining the respondents from taking any step to seek to enforce the purported directive pending the final determination of this application.”
However, the court, presided over by Justice Emmanuel Kwesi Mensah dismissed the application, finding among others that the motion paper to the application was incompetent.
The court indicated that a reading of the affidavit in support of the application confirmed that the application did not state the reliefs claimed by the application in the proceedings before the court.
“It is my view that this omission to state the relief or remedy sought by the applicant in the affidavit in support of the application violates the provisions of Order 55 Rule 4(2)(c) of the Rules of Court,’’ a local newspaper, Daily Guide, quoted the judge as saying.
Again, Justice Mensah held that “the subject matter of the application is a directive made by a minister of state and the application is, therefore, not targeted at any judgment order, conviction or another proceeding.
He said the application before the court also does not pray the court for an order of certiorari, and for that reason, the provision of rule 3 (2) of Order 55 of C.I. 47, did not apply to the matter for reckoning time.
The court also held that the affidavit filed by the applicants in support of their application was incompetent as the affidavit was deposed to by one Abena Owusu who described herself as the Legal Manager of Eni Ghana Exploration & Production Limited but did not state what her connection with Vitol Upstream Limited was.
Justice Mensah finally held that “a careful read through Section 34(1) of the Petroleum Exploration Act, (Act 919) of the year 2018 does not show that the Energy Minister’s directive violated the said provisions of the law.”
The court, therefore, dismissed the application and awarded a cost of GH¢10,000 each in favour of the Attorney General and Springfield Exploration & Production Ltd.
Below is the court ruling
High Court Ruling – ENI-Vitol v AG and SEP – Judicial Review – 21st October 2021 (1)
Source: https://energynewsafrica.com
Nigeria: TCN Commences Installation Of Gas Insulation Substation In Abuja
Nigeria’s power transmission company, TCN, has announced that it will on Wednesday, October 27, 2021, commence installation of a brand new Gas Insulated Substation (GIS) at Gwarimpa in Abuja.
A statement signed by Mrs Ndidi Mbah, General Manager, Public Affairs of TCN, said the installation works on the project is expected to be completed by Tuesday, 9th November 2021.
The new 2x60MVA Gas-insulated Substation (GIS) is part of TCN’s efforts to reinforce the high voltage transmission ring project around Abuja, which will increase bulk power available for Abuja Disco to take to its customers in Abuja metropolis and environs.
During the fourteen-day GIS installation period, bulk power delivery to the Abuja Electricity Distribution Company (AEDC) will not be affected as TCN has made adequate plans to ensure that the quantum of power supplied Abuja Electricity Distribution Company (AEDC) is maintained.
This means that the installation of TCN’s new GIS substation will not affect bulk supply to Abuja Disco for its customers.
The Gwarimpa GIS Substations project, when completed and commissioned into Circuit, will increase the quantum of bulk power supply in Abuja and its environs.
“TCN will continue to execute new transmission projects even as it completes old ones, in line with its electricity grid maintenance, expansion, and rehabilitation program, targeted at putting in place a more stable and efficient network,” the statement concluded.
Source: https://energynewsafrica.com
Ghana: GRIDCO CEO, Board Members Inspect Kasoa Bulk Supply Point Project
The newly appointed Chief Executive Officer of Ghana Grid Company, Ing Ebenezer Kofi Essienyi and some Board members of the transmission company has paid a working visit to the ongoing construction of the Kasoa Bulk Supply Point in the Central Region.
The visit formed part of the new CEO’s strategic plan to immerse the new Board members in key projects of the company.
The project, which is at an advanced stage, is the second-largest Bulk Supply Point Project after the Pokuase BSP.
It is being executed by the Millennium Development Authority (MiDA) with funding from the United States Agency Millennium Challenge Corporation (MCC) under the Ghana Power Compact II.
Starting in January 2020, the Kasoa BSP is expected to be fully operational in January 2022.
During an interaction with MiDA’s CEO, Ing. Ebenezer Kofi Essienyi expressed gratitude to MiDA and MCC for the project.
He noted that the Kasoa BSP would contain all the elements of a modern substation including Static VAr Compensator (SVC), Gas Insulated Switchgear (GIS) and an underground transmission line.
On his part, the CEO of MiDA, Martin Eson-Benjamin, addressing GRIDCo, said it was gratifying to have the GRIDCo Board express interest in the project.
He assured them that his outfit is working with all allied agencies to successfully execute the project.
The project would, among other things, reduce the transmission and distribution system losses suffered by GRIDCo and ECG respectively, and would ultimately improve the operational and financial performance of the utility providers.
Additionally, it would ensure quality power for residents in Kasoa.
Source: https://energynewsafrica.com
During an interaction with MiDA’s CEO, Ing. Ebenezer Kofi Essienyi expressed gratitude to MiDA and MCC for the project.
He noted that the Kasoa BSP would contain all the elements of a modern substation including Static VAr Compensator (SVC), Gas Insulated Switchgear (GIS) and an underground transmission line.
On his part, the CEO of MiDA, Martin Eson-Benjamin, addressing GRIDCo, said it was gratifying to have the GRIDCo Board express interest in the project.
He assured them that his outfit is working with all allied agencies to successfully execute the project.
The project would, among other things, reduce the transmission and distribution system losses suffered by GRIDCo and ECG respectively, and would ultimately improve the operational and financial performance of the utility providers.
Additionally, it would ensure quality power for residents in Kasoa.
Source: https://energynewsafrica.com
Zimbabwe’s Power Utility To Finish New Coal-Fired Units In 2022
Zimbabwe’s state-owned power utility expects to complete the addition of coal-fired units next year, bucking a global trend to reduce reliance on the fossil fuel.
The $1.5 billion expansion by Zimbabwe Power Company and China’s Sinohydro will finish one unit next year in September and another in December, adding 600 megawatts.
That’s intended to replace 920 megawatts of existing capacity prone to breakdowns, according to Forbes Chanakira, site manager for the Hwange Power Expansion project.
The government’s strategy “is to ensure we improve the reliability of the existing coal plant while at the same time embracing renewable technology,” Chankira told Bloomberg in an interview at the plant.
The project, which has been in the works for years, demonstrates how some developing nations will continue burning coal until funding is made available by richer countries to switch to cleaner energy. Neighboring South Africa is also completing some of the world’s biggest stations that run on the fuel and would need $20 billion to retrofit its fleet to cut pollution.
The Hwange plant in Western Zimbabwe has been flagged for emitting excessive pollutants and a flue gas desulfurization unit will be installed, which will meet World Bank standards, according to Lucia Chibanda, an engineer with ZPC.
China Eximbank will provide a 20-year loan of almost $1 billion at a 2% annual interest rate, Chanakira said. ZPC has to raise $315 million for project development costs from its own resources and loans from African Export-Import Bank and Standard Bank Group Ltd., he said.
The project is currently 72% complete after work slowed due to the Covid-19 pandemic.
– Bloomberg
ExxonMobil Forecasts Best Cash Flow Performance In 2025
ExxonMobil Chairman and Chief Executive Officer, Darren Woods, has told the firm’s global employees that the company is in a much stronger position now to realize the benefits of the economic recovery, capitalize on market improvements and capture future opportunities.
He added that “we’re also better positioned to apply our corporate competitive advantages and the outstanding talents of our people.”
According to him, ExxonMobil has never been more prepared to deliver the products and solutions that society needs for modern living, in addition to supporting the desire for a lower-carbon future than the Covid-19 pandemic era.
Discussing the current state of the industry, how the company managed through a difficult period, the leadership role the company intends to play in the energy transition, and his optimism for the future, Mr Woods said, “I’m proud of the work that all of you have done to overcome the challenges of the past few years.”
Touching on industry-specific, Mr Woods indicated that ExxonMobil’s Upstream business continues to improve the portfolio and is on track for the best cash flow performance in the industry by 2025.
“We’ve had outstanding success with discoveries in Guyana and increased the total estimated recoverable resource on the Stabroek block to approximately 10 billion oil-equivalent barrels.”
Continuing, Mr Woods noted that the Downstream business is steadily improving with a slow return to pre-Covid markets.
“Our past efforts to increase efficiency are now helping improve our margins as the industry rebounds. We continue to lead the industry with the lowest GHG intensity and are increasing investments in low-emission fuels.
“And our chemicals business is on pace for record earnings this year after contributing $2.3 billion in the second quarter alone. Our strategy to focus on performance products and lead in each product category continues to pay off.
“We are delivering excellent progress and performance in each of our businesses, and we are stronger today than ever,’’ he said.
Despite achieving successes, Mr Woods reminded the firms’ workforce that “we still have work to do though we have turned the corner and are on the right track to regain industry-leading performance. As we have done so many times before, we’ve found our path to leadership and created the opportunity for ExxonMobil to thrive for the next 135 years.”
Ghana: BOST Chalks Impressive Feat A Year Under Edwin ProvencalSource: https://energynewsafrica.com
France Needs Nuclear Power For Net-Zero-RTE
France could reach net-zero emissions by 2050 if it continues to keep a large nuclear generation fleet in the long term and develop significantly renewable energy sources, the operator of the French grid, RTE, said in a report on Monday on the pathways to reaching carbon neutrality.
Nuclear power generates most of France’s electricity. France currently gets more than 70 percent of its total electricity from nuclear power generation and is a major exporter of electricity, including to the UK.
France cannot meet its goals by nuclear energy alone, or by renewables only, the grid operator said.
The country will need 14 new nuclear reactors and a lot more renewable energy developments if it is to reach net-zero by 2050 at the cheapest cost, it added.
Building more nuclear reactors would be feasible if access to financing for nuclear power doesn’t differ from the ease of funding for other low-carbon technologies, the French grid operator said.
Earlier this month, French President Emmanuel Macron said that France aimed to become a leader in green hydrogen production and reinvent nuclear power by building a small modular reactor by 2030 as part of a wider $34.6 billion (30 billion euro) plan to decarbonize industry and slash emissions.
France’s bet on nuclear power—unlike Germany’s decision to phase out all nuclear plants after the Fukushima disaster—has been vindicated in recent weeks as Europe’s natural gas and power prices hit record highs. The gas and electricity crisis clashed with the net-zero pledges of the European Union and the United Kingdom as some utilities were forced to fire up mothballed coal plants as natural gas prices surged.
France also led a group of EU member states, including Finland and several central and eastern European countries, who pushed earlier this week for including nuclear energy in the upcoming green investment rules of the European Union.
China Starts Constructing $17-Billion Nuclear Power Plant“To win the climate battle, we need nuclear power,” say the EU member states led by France. This push has divided Europe, and the EU is reportedly delaying a decision on how to deal with nuclear energy, as well as natural gas, in upcoming legislation about which types of energy would classify as eligible for “green financing.” Source:Oilprice.com
Ghana: CEO Of Independent Power Producers Chamber To Speak On PPA Transparency
The Chief Executive Officer of the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB), Elikplim Kwabla Apetorgbor, has been invited by the Institute of Economic Affairs, a policy think tank in the Republic of Ghana, to speak at a forum on transparency of Power Purchase Agreements in Ghana.
According to the Institute of Economic Affairs (IEA) in Ghana, the country’s Power Purchase Agreements are shrouded in secrecy and had contributed to several problems in the electricity sector ranging from fiscal payments, negotiation costs, non-competitive pricing, reliability and ineffective power sector.
The IEA, with support from the Energy Hub in Washington DC, had, therefore, carried out a study of Ghana’s PPAs transparency and has made appropriate recommendations to the Government and Parliament of Ghana.
On the theme: ‘What does Ghana Stand To Gain From Power Purchase Agreement Transparency’, a forum to be held on October 27, Mr Apetorgbor is expected to highlight how transparency of the Power Purchase Agreements would support the effort of policymakers, investors and development finance institutions to accelerate energy market development and to reap the benefits of open competition.
The forum, which is organized to share the results of the study by the IEA, would feature key players including the government, the business community, academia, development partners, parliament, Civil Society Organizations as well as the media.
Source: https://energynewsafrica.com