Venezuela: Maduro Accuses CIA Of Bribing Oil WorkersData obtained from the Nigerian National Petroleum Corporation showed that the volume of petrol imported into the country, through the Direct Sale Direct Purchase scheme, fell from a high of 2.25 billion litres in March to 1.81 billion litres in April and 495.10 million litres in May. Under the DSDP scheme, selected overseas refiners, trading companies and indigenous companies are allocated crude supplies in exchange for the delivery of an equal value of petrol and other refined products to the NNPC. The country’s refineries have remained in a state of disrepair for many years despite several reported repairs. The NNPC has been the major importer of petroleum products into the country in recent years. Source: www.energynewsafrica.com
Nigeria Spends N700.46bn On Fuel Imports In Three Months
Nigeria has spent N700.46 billion(US$1,838,476,640.00) to import petroleum products in the third quarter of this year, the latest data from the National Bureau of Statistics have shown.
This is more than three times the N221.47 billion spent on fuel imports in the previous quarter, but 44.08 percent lower than the N1.25 trillion incurred in the first three months of the year.
Fuel consumption and imports plunged to record low in second quarter amid the lockdown imposed by the Federal Government to contain the spread of COVID-19 pandemic in the country.
South Africa: Eskom’s Six Months Interim Results Show Signs Of Progress
South Africa’s power utility company, Eskom, is showing signs of progress, according to the company’s Interim Results for the six months’ period ended September 2020.
The company, which hitherto was struggling, has reportedly achieved progress in some key areas of the business, setting it on a path to operational and financial stability.
According to report by Esi Africa, the company’s earnings, before interest, taxation, depreciation and amortisation (EBITDA) increased to R28.1 billion from R26.4 billion in September 2019.
Eskom recorded a net profit, after tax, of R83 million while navigating a very challenging operating environment.
Revenue grew to R108.7 billion compared to R107.5 billion in the same period last year, marking an increase of 1.1 percent.
South Africa: Eskom Sacks 2000 Workers In Ten MonthsSales volumes fell 10.3 percent in the period as a result of the COVID-19 national lockdown that took effect in March 2020. Employee benefit costs and other operating expenses were well contained with employee benefit costs marginally increasing to R16.7 billion, compared to R16.4 billion in September 2019. In its attempts to rein in costs, Eskom relied mainly on natural attrition and voluntary separation packages for managerial staff to reduce headcount, and there were no salary increases or incentive bonuses for managerial level staff. Primary energy costs rose to R54.3 billion in the period, versus R52 billion in the same period last year, a 4.4 percent increase. Eskom has redoubled its efforts to curb coal costs, which remained relatively manageable, with an increase of only 4.6 percent in the average purchase cost per ton of coal compared to 14.2 percent in September 2019. However, Eskom and IPP open-cycle gas turbines (OCGTs) were utilised frequently to support a strained power system. The Eskom OCGT’s generated 496GWh at a cost of R1.4 billion in the period, an increase from the R1.1 billion spent on 331GWh during the same period last year. Eskom’s Chief Financial Officer, Calib Cassim said: “Despite having achieved 48 percent of our funding requirements during the period under review, our access to funding in both domestic and foreign markets remains constrained due owing to low investor confidence as a result of poor financial performance, saturated borrowing capacity and the recent rating downgrades.” The utility’s CFO added: “These factors have a direct effect on market appetite and Eskom’s future cost of borrowing and may hinder execution of our borrowing programme. Eskom will however continue to explore all avenues.” Source: www.energynewsafrica.com
Nigeria: Volvo Engineer To Promote Clean Energy
Volvo Construction Equipment Diagnostic Engineer, Dr Elisabeth Källström, has launched ‘Clean Air for Africa’ initiative, aimed at creating awareness and advocacy to promote renewable energy, proper waste management and legislation around emissions levels in Nigeria and other African countries.
Källström, in a statement issued on Monday, said research showed that there was no strict legislation across African countries guiding, regulating or checking emissions from vehicles and generator engines.
She emphasised the need to replace dirty generators with clean solar power, saying the initiative would bring about the installation of free solar panels in various communities to create mini-grids of cleaner and more sustainable power.
She disclosed that she was also working on three different air quality research projects through two Nigerian universities, the University of Nigeria, Nsukka and Nnamdi Azikiwe University, Awka
“The focus of the research is on measuring air quality from vehicle emissions, in the classroom and in the outdoors,” Källström said.
Källström said she had had discussions with Nigeria’s Federal Ministry of Environment to help put together emission legislation for Nigeria and that she was also setting up the Air Quality Society of Africa with professors in Nigeria, Ghana and Kenya, and two doctors in Nigeria.
Source:www.energynewsafrica.com
IEA Projects A Global Crude Oversupply Through 2021
The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Energy Agency has said.
“Demand is clearly going to be lower for longer than expected” when the virus emerged in the spring, the agency said in a report, trimming forecasts for world fuel consumption following a new wave of lockdowns. “The market remains fragile,” it warned.
In Europe, a tentative recovery is reversing, with fuel consumption down this quarter amid a surge of Covid-19 infections and measures to control the spread of the virus.
Still, as the world economy picks up again and the OPEC+ coalition keeps a tight rein on supplies, the IEA expects that bloated crude inventories will subside in the coming 12 months. Oil prices are already reflecting some of that optimism, having reached a nine-month high above $51 a barrel in London last week.
Global tanks will hold 625 million barrels more crude at the start of 2021 compared with pre-pandemic levels, an overhang that will dissipate by next December, the IEA said.
The Paris-based agency advises major economies on energy policy.
The rebalancing is mostly due to a revival in world fuel consumption, which, despite the latest stresses, remains on track for a vigorous rebound from this year’s historic collapse.
Growth Downgrade
While the IEA lowered projections for global demand growth in 2021 by 110,000 barrels a day — because of sustained pressure on jet fuel and kerosene use — it nonetheless projects a significant jump of 5.7 million a day, or about two-thirds of the amount lost this year.
South Africa Looks To Becoming A Global Gas Market PlayerConsumption will average 96.9 million barrels a day in 2021. Purchases of gasoline and diesel will be “particularly strong,” returning to about 99% of pre-crisis levels. In addition to resurgent demand, the world oil market is also being healed by the efforts of the Organization of Petroleum Exporting Countries and its allies, a group of producers led by Saudi Arabia and Russia. The 23-nation network has made vast production cutbacks to offset the slump in consumption, and earlier this month agreed to scale back plans for restoring the idled supply. The group will carefully stagger the return of 2 million daily barrels in the coming months, beginning with a 500,000-barrel increment in January. “The current deal is flexible and sophisticated, and shows that they are concerned about the short-term fragility of the market,” Neil Atkinson, head of the IEA’s oil markets and industry division, said. “There is not much headroom for them to supply more oil than they currently anticipate.”
Ghana: Second GOIL-CIMG Entrepreneurship Awards Held In Ho
The second edition of the Ho Technical University GOIL – CIMG Entrepreneurial Marketing and Innovation Awards has been held in Ho in the Volta Region of the Republic of Ghana with Miss Evelyn Benyiwaa Yankson, emerging Winner.
Miss Yankson, an immediate past student of Hospitality and Tourism Management beat off competition from six other student entrepreneurs in a business pitching competition assessed by a 5-member panel with expertise in business management, marketing and entrepreneurship.
The award was jointly instituted by GOIL and the Chartered Institute of Marketing, Ghana (CIMG) in March 2019, and aimed at empowering the youth in local entrepreneurial developments and initiatives among tertiary institutions in the country.
The Head of Corporate Affairs Director, at GOIL, Marcus Deo Dake, expressed excitement about the enthusiasm and level of seriousness Ho Technical University attaches to the award scheme.
He noted HTU is the only technical university implementing and utilizing the funds allocated for the scheme.
He also commended the University management for sustaining the initiative and assured them of GOIL’s continuous support during the period of the sponsorship.
The Vice-Chancellor of the university, Prof. Ben Q. Honyenuga, urged students and participants to strive for excellence in their fields of endeavours and expressed his gratitude to the sponsors of the award for their commitment to supporting the HTU project to realize its objectives.
Source: www.energynewsafrica.com
Kenya: Africa Enterprise Challenge Fund Launches Results Based Financing Programme For Clean Energy Companies
The Africa Enterprise Challenge Fund (AECF) has launched a Results Based Financing Programme aimed at unlocking new markets for clean energy companies in Kenya.
The US$ 4 million programme will support commercially viable companies establish new markets and accelerate access to clean energy for 87,000 unserved and underserved households in Kenya. Companies will be awarded funding of up to US$ 500,000 at contracting, with a flexible reallocation system to allow companies that exceed their milestone targets to increase their funding cap to US$1 million.
“Off-grid energy sector continues to require investment if we are to make notable progress in improving access to affordable and clean energy. We are excited to be launching the REACT RBF programme through which we seek to provide results-based incentives for companies that are increasing access for unserved and underserved communities. Energy access remains critical for a sustainable post COVID-19 recovery and we see REACT RBF helping companies to withstand the Covid-19 effects, recover, and come out stronger on the other side,” Victoria Sabula, Chief Executive Officer of AECF said.
The REACT RBF programme will be rolled out in Kenya given the country has a relatively advanced clean energy market compared to other Sub Saharan countries.
According to GOGLA country brief, as at June 2019, 4.1M people in Kenya live with improved energy access and 3.5M still without power.
The programme funded by the Swedish International Development Authority (SIDA) will provide funding to companies in Kenya incentivising them to reach more energy poor households and substantially increase their access to clean energy. The RBF projects are expected to be implemented over a 2.5-year period running from July 2021 to December 2023.
The AECF continues to be a leader in supporting the scaling up of clean energy companies in Africa, particularly in Kenya to reach off-grid communities and substantially increase clean energy access for poor households. Improvement of access to reliable and affordable energy is critical for the reduction of poverty and enhancement of quality of life for remote and low-income communities.
Source: www.energynewsafrica.com
Libya: Government Denies Gasoline Shortage
The Libyan government recognized by the UN has told Libyans not to panic and queue at gasoline stations in the country because there is enough supply of fuel, Libya Herald reported on Monday.
In recent days, people have been queuing at gasoline stations due to rumors about shortages, but the country’s Interior Ministry said that a fuel tanker carrying 35 million liters of fuel had recently arrived at the port of Tripoli.
Fuel supplies to gasoline stations across Libya have already started, and the stations will work around the clock, the ministry added, as carried by Libya Herald.
Brega Oil Marketing Company said this weekend that the Anwar Africa tanker had arrived at the port of Tripoli, according to The Libya Observer.
The fuel marketing company said that there was sufficient supply of both gasoline and diesel and that people shouldn’t pay attention to rumors about an imminent shortage of fuel.
Libya: Total Bets Big On Libya’s Oil IndustryRumors about a fuel crunch come just as Libya had managed to restore its crude oil production back to the levels last seen in January this year, before the eight-month-long blockade of the ports and oilfields. Libya’s crude oil production has already returned to 1.25million bpd, the level the OPEC member exempted from the OPEC+ cuts was pumping before the port blockade in January. The faster-than-expected increase in Libyan oil production is giving OPEC and its allies in the OPEC+ group another issue to discuss at their monthly meetings that will be held starting in January, on top of the outlook for oil demand early next year. OPEC’s crude output jumped in November by 750,000bpd, with Libya accounting for most of that increase, according to the monthly Reuters survey. Earlier this month, Libya’s UN-recognized government said that an urgent meeting of all stakeholders involved had agreed to work toward unfreezing Libya’s oil revenues, an essential part of the OPEC member’s budget income. Source: www.Oilprice.com
India: Consumers To Pay More For Fuel
Steeper fuel price hikes await Indian consumers as international crude oil rates have crossed $50 a barrel for the first time since March on global demand recovery.
Rising crude oil prices push up rates of refined products such as petrol and diesel, which have already risen by Rs 2.6 per litre and Rs 3.4 per litre, respectively, in three weeks in the domestic market.
Since the beginning of November, crude oil prices have risen about $11 a barrel, or 28%, to $50 a barrel mainly on hopes that a quick vaccine roll-out across nations could help contain the coronavirus and its damaging impact on fuel demand. Some countries have already approved vaccines while others are considering such requests from pharma companies.
An oil demand pickup is showing up in India too with petrol sales rising above pre-covid levels.
The demand for diesel and jet fuel has also vastly improved since April but is still lower than last year’s. Refinery runs have also recovered with facilities at Indian Oil, the nation’s largest refiner, running at full capacity.
Nigeria To Lose $24bn Oil, Gas Investments In Six Years –ReportRising international rates have forced state oil companies to raise domestic fuel prices. Petrol now costs Rs 83.71 per litre in Delhi, just a tad lower than the record rate of Rs 84 per litre registered on October 4, 2018. Diesel is selling for Rs 73.87 per litre. In Mumbai, petrol and diesel cost Rs 90.34 and Rs 80.51 a litre, respectively. Rates have been static for the past four days after rising almost daily since November 20. State oil companies are expected to daily revise domestic rates of petrol and diesel to align them with international rates. But in 2020 companies haven’t quite followed this, keeping rates static for weeks and months, making domestic price predictions harder. Domestic prices are near-record levels also because of steep rise in taxes.
Norco Secures Maintenance Contract With Total E&P Angola
Norco Group Ltd, an energy storage equipment manufacturer and service provider, has been awarded a contract for the supply of Uninterruptible Power Supply (UPS) systems and standby battery equipment on TEP Angola’s assets in offshore Block 17.
This includes the Dalia, Girassol, Pazflor and CLOV Floating Production, Storage and Offloading facilities (FPSOs).
Running for three years with an optional two-year extension, the contact will see Norco providing preventative maintenance as well as emergency fault response.
This latest award comes on the back of similar agreements with major operators in Ghana and Equatorial Guinea, and will run alongside an existing contract with Total E&P UK Ltd.
Commenting on the contract, Finbar Kelly, who is the Commercial & Contracts Manager at Norco, said: “We’re delighted to be able to put pen to paper on this after some serious work behind the scenes. It’s our biggest strategic step thus far into offshore West Africa, and now we’re all focussed on delivering what we’ve agreed with Total.”
On his part, John Roy (Director) said: “It’s a testament to the work of the International Development team, as well as the engineers who have serviced the contract with Total in the UK, that we’ve been also now selected to work with them in Angola. I’m sure there will be logistics challenges in the current climate but we’re looking forward to proving we’re up to the task.”
Headquartered in Aberdeen, UK, and with offices in Abu Dhabi, Norco Group is UPS and Industrial Battery specialist.
An independently owned and managed group of companies, Norco has over 30 years of onshore, offshore and overseas operations.
REPP Injects £1 Million Into Smart Battery Rental Business Targeting Off-grid Customers
The Renewable Energy Performance Platform (REPP), funded by the UK Government’s International Climate Finance, has invested £1 million into a renewables-powered battery rental company that provides affordable energy access to off-grid communities in West Africa.
UK-based Mobile Power was set up in 2013 to serve the needs of end-users that are underserved by existing rural electrification models in the region. Currently, the company has operations in Sierra Leone and Liberia, two of the poorest countries in the world where most of the population live on less than US$1.25 a day.
Following last week’s completion of a £2 million Series A funding round led by REPP’s equity investment, Mobile Power is now set for rapid expansion, with plans to enter the Nigerian market next year whilst supporting various existing partnership projects in Uganda, Zambia and Gambia.
Ghana Gets 1000kW Floating Solar On Bui Dam Reservoir (Video)Through Mobile Power’s innovative rental model, customers are able to rent smart 50Wh lithium-ion batteries at a low cost and in 24-hour increments. Customers can make payments either in cash or using mobile money, making the service inclusive to those without mobile money or areas with weak phone signal. And unlike many other electrification solutions, the product requires no consumer debt or long-term commitment. The batteries are suitable for lighting, phone charging, fans, TVs and radios and are charged at solar-powered “MOPO Hubs”, providing a lower carbon option to other local alternatives, which include diesel generator-powered charging stations and battery-powered torches. Geoff Sinclair, Managing Director of REPP’s investment manager, Camco Clean Energy, said: “Providing affordable energy access to some of the world’s poorest communities is a huge challenge for developers, but one that must be overcome if we are to meet the UN’s Sustainable Development Goals by 2030. “Mobile Power’s novel business model provides a scalable solution that, with the support of REPP and the other Series A investors, has great potential for rapid growth and delivering far-reaching impact.” Prior to the funding round, Mobile Power had raised approximately £1.1m in equity from early-stage investors, and a further £1.7m during 2019 in the form of innovation grants and loans. Chris Longbottom, CEO of Mobile Power, said: “The completion of this Series A fundraise represents a vote of confidence for Mobile Power’s unique approach to energy access, particularly in those markets where traditional approaches are less viable. We look forward to scaling up and reaching many more off-grid customers.” Source: www.energynewsafrica.com
Ghana: BOST Donates To 37 Military Hospital
The Bulk Oil Storage and Transportation Company (BOST) Limited, a strategic fuel stock keeping company in the Republic of Ghana has made a cash donation to the 37 Military Hospital to support the hospital to procure personal protective equipment.
The donation forms part of the company’s Corporate Social Responsibility initiative.
Presenting the donation, Government Relations Manager at BOST, Yaw Antwi Dadzie said management received a letter from the hospital requesting support some months ago.
He said upon deliberations by management, led by Mr. Edwin A. Provencal, a decision was taken to honour the request no matter how small the amount would be.
He said management was of the view that the donation would help them to procure some personal protective equipment to enable them fight against Covid-19, since the virus is still lingering around.
Receiving the donation, Commanding Officer of the 37 Military Hospital Commodore Nii Adjah Obodai expressed gratitude to the management of BOST for supporting the hospital.
According to him, the donation came as a surprise because the request has been awhile and they almost forgot about it.
He noted that Ghana is not out of the woods of Covid-19 yet, saying: “We expect that we should be able to grind it to a halt.”
He mentioned that some nations are already experiencing the second wave of Covid-19, stressing that Ghana needs to get itself ready to deal with the worst situation.
Source: www.energynewsafrica.com
Ghana: Two Deputies At Energy Ministry Retain Parliamentary Seats
A Deputy Minister for Energy in charge of Finance and Infrastructure and governing New Patriotic Party’s (NPP) Parliamentary Candidate for Effia Constituency in the Western Region of the Republic of Ghana has retained his seat for the next four years.
His win was announced in Ghana’s just ended general elections.
He floored the NDC’s Michael Otoo to win the seat again for the NPP.
Mr. Cudjoe polled 19,476 votes, representing 59.18 percent while Michael Otoo polled 13,433 votes, representing 40.82 percent.
Similarly, Deputy Minister for Energy in charge of Power, William Owuraku Aidoo won the South Afigya Kwabre parliamentary seat for the NPP in the Ashanti Region. He, too, retained his seat.
He polled 64,363 votes, representing 78.92 percent while his contender, Nuzagl Vivien Nyuzagla of the NDC, polled 16,173 votes, representing 19.83 percent.
Robert Dambo of the PNC secured 1,014, representing 1.24 percent.
Source: www.energynewsafrica.com
IAEA, African Energy Chamber Encourage Implementation Of Nuclear Derived Technologies In Africa
The African Energy Chamber has met with the Director-General of the International Atomic Energy Agency (IAEA), Rafael Grossi to discuss the implementation of Human Development Application Of Nuclear Technology in Africa through appealing to private sector participation in the initiative.
Forming part of its sustainable development goals, the initiative focuses on research and development, monitoring, diagnosis, treatment, capacity building, knowledge sharing and education in key areas including the fight against women’s cancers, increasing food security and agricultural development, preventing and combating zoonotic diseases and addressing climate change.
In pursuing working with the African Energy Chamber and its strong private sector network, the IAEA seeks to introduce new technologies to several sectors of the African market as a means to address the apparent challenges and carry through lasting results.
South Africa: AOP Ready To Welcome Investors To Africa’s Energy Event In 2021“Over the last few years, the Chamber has been determined to contribute to Africa’s sustainable growth and development through utilising its network of private sector actors operating in the African energy industry to affect change that goes beyond the oil, gas and power sectors,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “We believe the challenges highlighted by the Human Development Application of Nuclear Technology require a fierce urgency of now for the continent to have some of its biggest challenges that have contributed to the slow pace of Africa’s economic growth addressed.” The African Energy Chamber understands that the private sector has an important role to play in the acceleration of Africa’s growth and is pleased to collaborate with and esteemed agency such as IAEA to explore contemporary solutions to the considerable challenges African countries are faced with. Source: www.energynewsafrica.com
Pipeline Enthusiasm To Drive Investments Worth Several Billion USD Into Niger
Niger’s Secretary General in the Ministry of Energy, Balla Mahaman Rabiou announced during a working visit of the African Energy Chamber to Niger, that his country had concluded preliminary studies for the implementation of power projects worth hundreds of millions of dollars nationwide.
According to Rabiou, the government has embarked on an aggressive plan, to increase access to power for its predominantly youthful population from currently over 16% to 80% by 2035. Of particular focus, are Niger’s rural areas which have power access levels of less than 5%.
Many of the power projects envisaged, are expected to be solar mini-grids, taking advantage of Niger’s abundance of sunlight throughout the year. The recently created Agency for the promotion of rural electrification is at the forefront of this effort.
During its working visit to Niger, (23 – 27 November), the African Energy Chamber pledged to support the government’s initiatives to attract much needed investment into the country.
“Niger has embarked on a path we passionately support, to drastically increase access to reliable and affordable electricity for its youthful population” said Verner Ayukegba, Senior VP with the African Energy Chamber. This will not only increase the living conditions of the population, but will also form the basis for increased mechanisation and industrialisation in other sectors such as mining and agriculture. The most important effect of this increase in access to energy will be a steep rise in the availability of Jobs in the country.
There has always been a drive to increase access in Electricity in Niger, supported by donor partners like Power Africa, USAID and the European Union. However, the government’s new plans rely significantly on its own revenues, expected from increased oil production in Niger.
South Africa: André De Ruyter Sees Eskom Unbundled In 2021Production is scheduled to increase from currently 20,000 barrels per day currently to 120,000 in 2024. This increase shall be made possible, with the completion of the 1950Km Niger-Benin oil pipeline to be built by the China National Petroleum Corporation (CNPC). The pipeline will transport crude to the global markets via the port of Seme in Benin from Niger’s prolific Agadem basin. The pipeline has therefore become a symbol of hope, upon which several major development projects depend. Growth rates overall in Niger are expected to reach double digits, for the decade after the completion of the pipeline in 2024. Following Petroleum Minister Foumakoye Gado’s role in securing the construction of the all-important pipeline, he was named by the African Energy Chamber as one of the top 25 leaders in the African Energy Sector to watch. Minister Gado’s success in facilitating the deal has significantly de-risked exploration in Niger in particular and the Sahel in general. The pipeline also symbolises the likelihood of even greater exploration in Niger. British minor, Savannah Energy is leading the way with 5 discoveries from 5 exploration wells drilled and a combined estimate of 6.7 billion barrels of oil Initially in Place in its two licenses. Several other companies are currently negotiating with the government to secure exploration licenses in Niger. Niger’s success is being closely watched by oil companies who in the past have paid less attention to the search for hydrocarbons in the Sahel. This is likely to change, with the successful completion of the pipeline. Bilateral discussions between the Chamber and several other notable institutions in Niger, revealed a flurry of activities, that will turn Niger into a destination for major investments into the mining and energy sectors especially. The National Oil Company, SONIDEP, which was initially focused solely on the distribution of petroleum products, is now concluding a reorganisation with the mandate to ramp up its activities in the upstream and midstream sectors. SONIDEP is negotiating the obtention of exploration licenses, which it intends to develop, together with experienced technical partners. Similarly, the state mining holding company SOPAMIN is also benefiting from the increased investment projections around Niger, with renewed interest from investors into Niger’s prolific mining sector. The company is currently evaluating several new mining project proposals worth hundreds of Millions of dollars. Politically, Niger is one of Africa’s most stable democracies, giving more confidence to investors as to the safety of their investments. A further successful transfer of power in April next year, from current President, H.E Mahamadou Issoufou to an elected successor will only help to increase Niger’s attractiveness to investors.