Ghana’s Energy Minister, John Peter Amewu, who contested the Hohoe Parliamentary seat on the ticket of the governing New Patriotic Party in the December 7, 2020, general election, has secured a landslide victory to the country’s house of legislature.
He is the first person to have won election in the Hohoe Constituency in the Volta Region, after failing on three different attempts.
He secured 26,952 votes while his opponent, Prof Margaret Kweku, of the NDC, obtained 21,821 votes.
This performance is a huge jump from the results his party had recorded since 1992 in parliamentary polls.
For instance, in 2016, the NDC candidate, Bernice Adiku Heloo, secured 35,437 as against the NPP’s Marlon Praises Anipa, who polled 6,462; which has been the usual polls outcome in most parts of the Volta Region.
With the voter roll in Hohoe having 59,228 with 124 polling stations, many doubted that Mr Amewu could win the elections. For many, he would, at best, close the gap.
Nonetheless, the win came with over 5,000 votes difference; a proof of the broken grip of the NDC in Hohoe, when compared to 2016 and other election results since 1992.
Declaring the polls, the Returning Officer for the parliamentary election in Hohoe, Wisdom Kofi Akpakli said although the opposition NDC had some concerns with the results, they had been clarified and all parties were satisfied with the results.
Mr Awemu took to Facebook to express his appreciation and gratitude to the President of the Republic, Nana Addo Dankwa Akufo-Addo, for his unconditional support to him and the people of Hohoe.
“Special thanks also go to the chiefs and queen mothers, religious leaders, national, regional and constituency NPP executives, my colleague Ministers, party members, campaign volunteer groups and supporters. God bless you all for your hard work,” he said.
He also thanked the NDC for a good contest and assured that his leadership would not discriminate but cover every resident within the constituency.
“I promise to contribute to the creation of a united and prosperous Hohoe,” he concluded.
Meanwhile, President Akufo-Addo cum Presidential candidate of the NPP secured 14,389 votes while flag-bearer of the opposition NDC, John Dramani Mahama, garnered 33,542 votes.
The UAE’s biggest oil company, ADNOC, has told some buyers it will reduce shipments for January, Reuters has reported, citing sources in the know.
The biggest cut will be in shipments of ADNOC’s flagship grade, Murban. The company will also cut supplies of the Upper Zakum and Das grades by 15 percent, the sources said.
These reductions come on top of another 20-percent cut in allocations effected for shipments arriving this month.
The Emirati company recently boosted its total oil reserves by 2 billion barrels of oil to 107 billion barrels thanks to new discoveries. Separately, the Abu Dhabi government announced 22 billion barrels of oil in unconventional reserves, saying it had every intention of developing them.
However, the country, one of the three biggest OPEC exporters, is a signatory of the OPEC+ oil production cut deal, which has interfered with its oil ambitions.
Earlier this year, as the cartel was discussing the next stage of the deal, reports emerged that the UAE may leave OPEC in order to pursue its own plans for oil, although the UAE denied there were such plans.
The country, however, has not been quiet about its misgivings regarding a Saudi Arabia-led plan to extend the current level of cuts, at 7.7 million bpd, into the first quarter of 2021. In fact, the Emirates supported Russia’s proposal to start adding 500,000 bpd to OPEC+ production beginning next month, to a cumulative 2 million bpd by April.
According to a recent analysis by Reuters’ Rania El Gamal, the increase in Abu Dhabi’s reserves is linked with an increase in its clout within OPEC, potentially setting it against its bigger partner, Saudi Arabia, if their opinions on how to handle production control continue to diverge.
In fact, El Gamal wrote, it was the boost in oil reserves that led to the UAE’s disagreement about output control with Saudi Arabia.
Source:Oilprice.com
The General Transport Petroleum and Chemical Workers Union (GTPCWU) of TUC in the Republic of Ghana has condemned the action by section of drivers in Ashaiman who are protesting against the decision by State Transport Corporation (STC), to operate a transport terminal in the Ashaiman Municipality.
According to GTPCWU, it has taken notice of numerous attacks on STC by some drivers’ union anytime STC tries to establish terminals across the country.
“GTPCWU is of the view that STC is well-equipped with good buses and for that matter, can transport passengers safely to their destinations. Passengers get stranded looking for vehicles to travel due to insufficient vehicles being operated by the private drivers’ unions.
“Additionally, some private unions fail to ensure good maintenance culture of their vehicles, culminating into various accidents on our roads,” the union said in a statement signed by its National President, Bernard Owusu.
It follows a protest on Thursday by Ashaiman Municipal Operators Coordinating Council.
The group said it got a hint of STC’s intention to establish a terminal in Ashaiman and so wrote to the Ashaiman Municipal Assembly over the matter.
The group explained that the MCE, Albert Boakye Okyere assured them to remain calm since it was not going to happen.
According to the group, it came as a surprise when the Managing Director of STC, Nana Akomea, during an interview on CTV, said the state transport was going to establish a terminal in Ashaiman.
GPTCWU urged the private transport operators to bear in mind that “we are in competition and they must also acquire good vehicles to meet the STC standard.
“Though we believe in the growth of the private sector, we are of the view that government agencies such as STC must also survive.”
It cautioned the drivers unions to desist from their actions that seek to oppose government agencies.
It also called on the government to ensure that Ayalolo buses, that are idle at some district assembies, are back on the roads to ease the pressure in the transport sector.
Ratings Agency, Fitch said it expected Brent crude to average $45 a barrel next year, following OPEC+’s decision to start raising production by 500,000 bpd monthly from January 2021.
“We expect prices to be, on average, at $45 next year for Brent,” Fitch senior director Dmitry Marinchenko said during an interview with CNBC.
“This assumes that the demand will remain weak until at least the second half of the year, because the progress with mass vaccination probably will not be very quick,” he added.
Vaccine news sent oil prices higher at the end of last month, and the fact that OPEC+ had achieved an agreement on the next steps in the production cut deal after long debates helped them stay higher this week.
However, this may soon change as the challenges around vaccine distribution and the fact that there will be more OPEC+ oil coming into markets next year sink in. And that’s without counting Libya, which continues to boost its production, unbound by the OPEC+ deal.
Vaccines are unlikely to significantly affect oil prices, Marinchenko told CNBC, going counter to widespread expectations that once a vaccine is widely available, oil demand will quickly rebound.
In evidence that mass vaccination will not be as simple as many may want to believe, Pfizer said earlier this week it will only ship half of the vaccine doses it originally planned for this year because of supply chain problems.
“With weak demand, and with OPEC trying to manage supply … to avoid large surpluses or deficits in the market, we expect prices to be at $45 next year,” Fitch Ratings’ Marinchenko said.
OPEC+ on Thursday agreed to start adding half a million barrels daily to its total in a compromise decision that sought to bridge a deepening gap between those in favor of more aggressive cuts, led by Saudi Arabia, and those who would rather relax the cuts, such as the UAE and Russia.
Source: Oilprice.com
The Government of Ghana is said to have paid over U.S$1 billion to Independent Power Producers (IPPs) in the West African nation for the supply of power to the state.
The amount is part of huge debts owed the IPPs which produce about 55 percent of the power generated in the country.
Not too long ago, the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB), which is the umbrella body of the IPPs, claimed that the Government of Ghana owed their members about U.S$1.5 billion.
In a recent statement issued by the Chamber, they threatened to withdraw their services if 80 percent the indebtedness worth $1 billion was not paid.
A statement issued by the Finance Ministry said this year, the government has paid more than US$1 billion to the IPPs, which is in addition to some GH¢2.7 billion paid by Electricity Company of Ghana Limited (ECG).
“The government has saved the energy sector over US$5 billion by relocating Karpowership Ghana Company Limited and securing agreements with CENIT Power Limited and Cenpower Generation Company Limited, with more savings to come,” the statement from the Finance Ministry explained.
However, the Chamber has refuted the claims, saying the U.S$1 million the government claimed to have paid to its members in 2020 was false.
According to the Chamber, the Government of Ghana’s indebtedness to their members now stands at U.S$1.5 million as at November ending.
Below is the statement issued by the Ministry of FinancePRESS RELEASE – Dumsor Will Not Return- Government of Ghana saves energy sector $5 billion as it continues to deliver on the Energy Sector Recovery Programme – FOR YOUR ATTENTION
The Government of Ghana has described as misleading claims by the immediate past chairman of the Public Interest and Accountability Committee (PIAC) and Executive Director for ISODEC Dr. Steve Manteaw that huge oil monies have not been accounted for.
According to the government, claims by Dr. Manteaw that GHc2,132,188,611.01 of oil money was missing not factual but a calculated attempt to smear the government for it to look bad in the eyes of Ghanaians.
Dr. Manteaw, in a Facebook post on Friday, alleged that GHc2, 132,188,611.01 oil cash was missing under the Akufo-Addo-led government.
He explained that in 2017, an amount of GHc400,914,441 was unaccounted for while in 2018 GHc253, 377,870.01 was also unaccounted for with that of 2019 being GHc1,479,870.01 bringing the total to GHc2,132,188,611.01.
He, therefore, asked Ghanaian voters, who will be voting in the general elections on Monday, December 7, 2020, why they would vote for a government that cannot fully account for the oil revenues.
However, in a statement, responding to the claims, the Finance Ministry noted that the monies Dr Manteaw claimed were missing were transferred to the Road Fund Secretariat, under the Ministry of Roads and Highways and utilised in line with the provisions of the Petroleum Revenue Management (PRM) Act, 2011 (Act 815), as amended, to reduce the Fund’s indebtedness to road contractors and creditors.
“We have noted that Dr. Manteaw erroneously presents the cumulative unutilised ABFA balances for 2017/18/19 of GH¢1,479.90 million as the closing balance for 2019 alone, then adds the 2017/18 closing balances of GH¢400.91 and GH¢251.38, thus, inflating the cumulative ABFA closing balances by an additional GH¢652.29 million, bringing his cumulative closing balance to GH¢2,132.19 million as reported in his Facebook post.”
The statement said records at the Ministry of Finance, consistent with the Annual Reports on the performance of the Petroleum Funds for 2017, 2018 and 2019 published by the Ministry of Finance on its website, and the PIAC Report on the Management of the Petroleum Revenues for 2019, showed that the unutilised ABFA balances at the end of 2019 were as follows in 2017 (GHC 400,914,441.00), 2018 (GHC 251,377,870.01) and 2019 (GHC 827,603,988.8) totaling GHC 1,479,896,299.87
“From the explanation provided above, which was hitherto conveyed unambiguously in our letter No. ESRD/EPU/30/06/20 to PIAC (copy attached), and also at the meeting of the Finance Committee of Parliament on the 2019 PIAC report, it is misleading to suggest that an amount of GH¢2,132,188,611.01 of oil revenues is missing from the books.
“Indeed, Ghana’s PRMA touted as one of the best petroleum management laws in the world, provides the requisite controls in addition to our PFM laws and regulations to ensure that our oil resources are properly and efficiently utilised and accounted for,” the statement concluded.
MoF response to facebook post by Steve Manteaw on ABFA2 04dec20 Source: www.energynewsafrica.com
The Spanish energy firm, Elecnor S.A, which is working on the 330kV Bulk Supply Point at Pokuase in the Greater Accra Region of the Republic of Ghana has assured the state of completing the project on schedule and handing it over to the Ghanaian authorities for commissioning in May 2021.
The project is currently about 87 per cent complete with the remaining 13 per cent expected to be completed in the next few months.
The US$50 million project, when completed, would boost power supply to about 350,000 people in Accra especially those in Pokuase, Nsawam, Kwabenya, Legon, Oyibi, Adenta and others.
The BSP, which is the first project under the Ghana Power II, spearheaded by the Millennium Challenge Corporation (MCC), through the Millennium Development Authority, has Control Room for Ghana’s transmission company, GRIDCo, with Electricity Company of Ghana also having Switchgear office in it.
Speaking to energynewsafrica.com on Thursday, December 3, 2020, when Millennium Development Authority paid a working visit with its press corps, Country Manager of Elecnor S.A, Mateo Perez Camino said the project is on course.
Mateo Perez Camino(left), Country Manager of Elecnor S.A
He was confident that the project would be completed as planned in the first quarter of 2021.
He said so far, about 250 Ghanaians have been employed, representing 95 per cent of the workforce in compliance with the local content regulation.
He also disclosed that about U.S$10million worth contracts have so far been awarded to Ghanaian sub-contractors, including monies spent on fixing streetlights in the area and putting roads connecting the facility in shape.
He mentioned that as part of the company’s Corporate Social Responsibility, they plan to asphalt the roads around the facility and also create greenbelt zone to beautify the area.
The Project Manager for Pokuase Bulk Supply Point (BSP), Patrick Oppong, responding to questions as to why despite the Coronavirus pandemic, the project had progressed, said they made sure that all the Covid-19 protocols were put in place to ensure that all workers were safe to continue the project.
Patrick Oppong, Project Manager for Pokuase BSP
He said at a point, they made a case to the office of the President for special dispensation to be given to them to allow for movement of equipment and flying in of some expatriates to the project site for specific jobs to be done and return when they finish.
He added that they also hired buses to convey workers to and fro to avoid boarding public transport to protect them against Covid-19.
He said MiDA is committed to ensuring that the project was completed on schedule, noting that Ghanaians are awaiting for it.
Upon completion, the Pokuase BSP, which has a capacity of 580MVA, will be the biggest bulk supply station in the country.
Source: www.energynewsafrica.com
Indian Prime Minister Narendra Modi will be commissioning the world’s largest renewable solar and wind energy park in Gujarat’s Kutch on December 15, 2020.
Speaking ahead of the commissioning, Chief Minister Vijay Rupani said: “PM will be arriving in Gujarat on 15th to inaugurate two works.
One is the inauguration of world’s largest renewable energy park with a capacity of 30,000 megawatts (MW) from solar and wind energy.
It should be noted that just a month ago the PM had visited his home state Gujarat to inaugurate a host of programmes in celebrations of the 145th birth anniversary of the country’s Ironman Sardar Vallabhbhai Patel, at Kevadiya Statue of Unity SoU site, including the Seaplane services from Sabarmati riverfront and Kevadiya colony.
By: Fritz Moses
Transmission loss measure the power lost in the transmission of high voltage electricity from power generators to medium voltage power distributors (trading economics). This in simple terms means that, transmission losses are calculated as a percentage of the gross electricity production for the entire period under review.
In Ghana, high transmission and distribution losses between the point of supply and the point of consumption, arising from operational inefficiencies as well as poor collection of revenue from consumers, have contributed to factors rendering it difficult to guarantee the consistent and reliable supply of electric power. The losses that are both technical and commercial in nature are contributing greatly to the cash flow challenges in the power sector.
It is a fact that the unit of electric power generated by a power utility does not match with the units distributed to end consumers. Definitely, some percentage of the units would be lost in the network. Power from power plants passes through large and complex networks like transformers, overhead lines, cables and other equipment until it is made available to end users.
However, the level of transmission losses becomes a cause for concern when it is in excess of the allowable loss limit, and is of course recurring. Basically, power lost, is money lost to power utilities, thus the weakening their financial positions. The illiquidity poses a challenge for procurement of required quantity of fuel for power plants in a timely manner, carry out maintenance services to ensure the availability of the required plant capacities, and maintain/expand transmission and distribution infrastructure.
Industry data is showing that power transmission losses is rising to unfavourable levels, and this must be checked to save the country money. An urgent attention is required because this transmission challenge have proven to contribute to the key factors that stall the progress of the power sector and the economy as a whole.
Today, the transmission losses within the Ghana Grid Company (GRIDCo) system keeps rising to 2013 highs and possibly beyond, far in excess of the allowable loss margin. A review of the “Electricity Supply Plans” from Ghana’s Energy Commission (EC) and data from the Ghana Grid Company (GRIDCo) indicate that since 2008, the rate of transmission losses from total generated power keeps rising― largely due to the inefficiencies in the transmission system.
The losses in any transmission system are mainly in response to technical inefficiencies. It has been identified that the technical losses in Ghana’s power sector result mainly from the continued use of obsolete and faulty equipment that include switchgears, transformers, transmission lines, among many others. It is instructive to note that until date, some equipment and parts used for the transmission of power in Ghana date as far back as the 1960s.
Review of state documents identified that “with the Aboadze (West) enclave being the biggest generation enclave with an installed capacity of approximately 1540MW, transmission system losses are always higher than the benchmark because maximized power generation is wheeled to as far as Brong-Ahafo region, from the West enclave.
Aside longer transmission lines, the transmission loss increases was found to be driven by the old 161kV transmission lines in the West, and the limitation on the heavily loaded 161kV Volta – Achimota corridor that supplies power to the Capital and its environs. The over-loading of the 330/161kV autotransformers within Tema, congestion on the 161kV Anwomaso – Kumasi transmission line linking the 330/161kV infrastructure, the unavailability of the 40MVar STATCOM at Tamale etc. were equally identified as contributing factors.
Ghana’s benchmark transmission loss of power in percentage terms to the gross electricity production allowed by the Public Utility Regulatory Commission (PURC) is 3.5 percent in gigawatts hour (GWh). The 3.5 percent explains that all losses recorded in a production year that falls beyond the 3.5 percent benchmark deteriorates the amount of power produced for transmission, thus becoming cost to the State transmission agency, GRIDCo.
The country’s best performance in managing losses within the grid were recorded over a decade ago, when the transmission losses recorded was 3.5 percent for both year 2007 and 2008. These results fell right in line with the transmission loss benchmark of the country, and did not come at a cost to the country’s power transmission agency, GRIDCo.
However, since the year 2009, the percentage transmission loss in Ghana’s power sector has risen beyond the allowable of 3.5 percent. In 2009 for instance, the country lost approximately 343 GWh of electricity transmitted, representing a 3.8 percent of total 8,958 GWh transmitted.
In 2010, 2011 and 2012, Ghana recorded transmission loss of 380 GWh, 531 GWh, and 522 GWh respectively, representing 3.7 percent, 4.7 percent, and 4.3 percent of total annual power transmitted.
The trend shows upward, as the only year that transmission losses came close to the PURC benchmark was 2015. Aside that, the country has been recording losses of 4.4 percent on average terms. After dipping to 4.1 percent in 2017 from 4.4 percent in 2016, the country’s power transmission losses is seeing yet another sharp rise, recording a loss of 4.7 percent in 2019.
In absolute numbers, the amount of power lost to transmission has seen an incremental rise over the last decade. In 2019 for instance, the amount of electricity loss was recorded as 844 GWh, a growth of 16.2 percent over 2018 losses, and 30.5 percent over year 2017 loss figure.
The only year that experienced a dip in losses was year 2015, when the total electricity made available for gross transmission was only 11,692 GWh, as against 13,071 GWh in 2014 and 12,927 GWh in 2013; i.e. 1,379 GWh (about 12%) less than in 2014 and 1,235 GWh (approximately 11%) less in 2013.
Cumulatively, over the last decade, the amount of power lost to transmission is in excess of 5700 GWh, of the approximate 133,156 GWh transmitted within the period. The 5,700 GWh of power lost over the 10-year period is equivalent to one-third of the total power transmitted for consumption in 2019.
The high losses has translated into a monetary loss in excess of US$150 million over the decade. The conclusion was arrived at by striking the differences between the actual losses on annual basis and the loss benchmark (3.5%) set by the PURC, and multiplying the difference by the annual average end-user tariffs. This loss definitely impact on the financial performance of GRIDCo.
A squeeze in cash flow is likely to render GRIDCo incapable of executing its critical projects that would make the national transmission system robust and improve the reliability of power supply. It may also negatively influence the day-to-day operations of the company and make it difficult for the transmitter to meet its financial obligations to financiers, contractors, suppliers and service providers among others.
Though technically impossible to completely rid the transmission grid of losses, the provision of the needed investment in the sector would go a long way in beefing-up the system efficiency, and ensuring value-for-money (VFM). The focus must be on attaining either the 3.5 percent benchmark set by the PURC or anything below.
It is equally important to note that the growing debt owed the company by the Electricity Company of Ghana (ECG) and the Northern Distribution Company (NEDCo) hampers the ability of GRIDCo to provide for themselves modern equipment and infrastructures needed to increase efficiency in outputs.
Fritz Moses is a Research Analyst at the Institute for Energy Security (IES). He holds a Bachelor in Political Science from the University of Ghana.
Global law firm Baker McKenzie’s recent Global Oil and Gas Survey: Response to the Oil Price Crisis, outlines how before the outbreak of the COVID-19 pandemic, the global oil and gas industry was at an inflection point.
At the start of 2020, with oil, natural gas, and LNG markets each in a state of over-supply, the Energy, Mining and Infrastructure (EMI) industry was faced with a challenging dilemma: how to successfully manage the disruptive threats posed by the energy transition, while simultaneously navigating a relatively low commodity price environment with balance sheets still recovering from the last downturn in 2015-2016.
The report explains how, almost a year later, no one could have predicted the unprecedented events that have unfolded in 2020 due to the effects of COVID-19.
The sharp decline in energy demand caused by the pandemic’s impact on the macroeconomy, and the global collapse of oil prices, has raised a host of new issues for the industry. The pandemic has intensified uncertainty around future investment and accelerated pressure from investors to clarify the implications of the energy transition on their operations and business models.
Wildu du Plessis, Head of Africa for Baker McKenzie, notes that businesses in the upstream oil and gas sector in Africa are suffering significant distress, having been hit hard by COVD-19 impacts, but also by a significant amount of depression in oil and gas prices. In particular, refining companies in the sector are at a pinch point, especially with regard to transportation fuels such as jet fuel and gasoline, where there has been little happening around the world.
“We have noted an increase in demand for legal guidance in the oil and gas sector in Africa around bankruptcy proceedings, restructuring, asset or equity sales, the optimisation of assets, opportunities to increase liquidity, and litigation around claims that come out of distressed environments,” he said.
On the mergers and acquisitions side, Du Plessis explains that the industry has been in a state of distress for some time, and COVID impacts, as well as energy transformation requirements, increased the amount of companies in the sector that are either in distress, or battling with liquidity and looking for advice in carving out non-core and infrastructure assets, for example.
“Many oil and gas companies are actively looking to reshape their portfolios, swap out assets, navigate difficult sales processes, change their mix, or capitalise on green initiatives,” Du Plessis explains.
“To provide clarity for oil and gas companies in this challenging environment, Baker McKenzie published a multijurisdictional survey that provides a summary of the response of 24 key oil producing jurisdictions, including seven in Africa, to the 2020 oil price crisis and the drop in demand resulting from the COVID-19 pandemic. For each of these jurisdictions, oil and gas experts have outlined the government’s response to the crisis, the ensuing sector vulnerabilities, as well as certain critical issues to watch out for — including the implications for the energy transition for each country. The information will be of use to those in the EMI sector that are planning their post-pandemic renewal strategies,” Du Plessis adds.
The Federal High Court, in Abuja has refused to admit a document sought to be tendered in evidence by Economic and Financial Crimes Commission (EFCC) against former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu.
Justice Ahmed Mohammed, in a ruling, held that the motion was inadmissible because the Economics and Financial Crimes Commission (EFCC) was unable to bring to the court its certified true copy.
The News Agency of Nigeria (NAN) reports that Counsel to EFCC, Mohammed Abubakar, had, on Nov. 5, tendered a document in which Yakubu, who is the 1st defendant witness (DW1), tendered at the Supreme Court, seeking for an order of stay of execution restraining the Federal Government from taking over the money which the anti-corruption agency took away when its operatives raided his residence.
Abubakar said that Yakubu had deposed to an affidavit at the apex court that the money was kept at the Central Bank of Nigeria (CBN), Kano by the EFCC.
But while being cross examined before Justice Mohammed by the anti-graft lawyer in the last adjourned date and question about the whereabouts of the money was put to the former GMD, said it was from the EFCC he got to know that the confiscated money was in CBN branch in Kano State.
However, Yakubu’s Lawyer, Ahmed Raji, SAN, urged the court not to admit the document on the premised that Abubakar ought to have come with its certified true copy being a public document.
In his ruling on Monday, Justice Mohammed said though it was not in doubt that the document emanated from the Supreme Court, “subsequently, to tender the document, it ought to have been certified.”
Quoting Section 35 of the Evidence Act 2011, he said “the content of a document may be proved either by primary or secondary evidence.”
Mohammed held that the primary evidence of the motion to be tendered was the original copy which is at the custody of the Supreme Court.
He said for a motion to be tendered as secondary evidence, it must have been certified, citing previous cases to back the ruling.
The judge, therefore, held that the document sought to be tendered by the EFCC was inadmissible in the law.
“It is hereby rejected and shall be marked: tendered and rejected accordingly,” he ruled.
Justice Mohammed, who also refused to hear the EFCC’s motion, seeking an order to visit the locus in quo (i.e the CBN in Kano) because it was not fixed for the day’s proceeding, adjourned the matter until Jan. 14, 2021, to hear the anti-graft agency’s motion.
NAN recalls that the EFCC, in 2017, raided the house of the former NNPC GMD in Kaduna State and found 9, 772, 800 dollars (9.7 million dollars) and 74, 000 pounds in a safe.
Yakubu was, however, arraigned on March 16, 2017, on six counts but was ordered by the Court of Appeal to defend counts three and four which bordered on failure to make full disclosure of assets, receiving cash without going through a financial institution and intent to avoid a lawful transaction in alleged violation of Section 1(1) of the Money Laundering Act, 2011 and punishable under Section 16(2)(b) of the Act.
The hot air that was blowing in Ghana’s Tema Oil Refinery (TOR) is giving way for cold air following an agreement that was reached on Wednesday, December 2, 2020, between the workers and management.
The staff of TOR had been up in arms with the Francis Boateng-led management and the Board for failing to address their grievances, thus, creating tension at the refinery.
However, there was hope for the workers on Wednesday, when management finally agreed to sign a Memorandum of Understanding (MoU), setting out roadmap to resolve their grievances.
The workers accused their management of increasing their (management) allowances since April this year but failed to increase the allowances for the workers.
The explanation by management was that the Coronavirus pandemic had impacted on the operations of the company and urged the workers to bear with them.
This did not appease the workers who insisted that management increased their allowances since they had increased theirs.
Energynewsafrica.com understands the workers drafted a proposal which gave management the option to increase the allowances while salary increment would be done by the first quarter of 2021.
According to sources, management was hesitant in signing the agreement but the workers succeeded in getting management to succumb to their demands when they stormed the Board Meeting and insisted that they signed the agreement before the meeting could proceed.
Energynewsafrica.com’s sources indicated that Mr. Daniel Appiah, General Manager for Finance, signed the MoU on behalf of management while Maame Serwah initialed for the workers, with Mr. Alhaji Fuseinu Iddrisu, General Secretary of General Transport Petroleum and Chemical Workers Union, witnessing it.
Source: www.energynewsafrica.com
The Managing Director and Group CEO of GOIL, Ghana’s leading oil marketing company, Kwame Osei Prempeh, has been honored as the Most Respected CEO of the Year 2020 for the Oil Marketing category at the 3rd Ghana Industry CEO Awards 2020 held in Accra.
The Award recognizes the good corporate governance and achievements of identified Chief Executives Officers with eligible awardees selected from both the public and private sector corporations and institutions.
The award particularly recognized Mr. Osei Prempeh’s calm leadership qualities that has led to the steady growth of GOIL which has shown resilience as an indigenous and strong Oil Marketing Company in the face industry turbulence presented by the COVID-19 pandemic.
In response to the Award, Mr Osei Prempeh dedicated the award to staff of GOIL whom he described as ‘hardworking and dedicated’, adding that ‘In the most difficult year of modern times, God has been good and the continued perseverance of all will make the team conquer all obstacles’.
Mr Osei Prempeh was recently awarded the CEO OF THE YEAR at the Ghana Energy Awards; CEO OF THE YEAR’ for the DOWNSTREAM Petroleum sector at the Oil and Gas Awards and Ghana’s Most Respected CEO’s Award For Indigenous Oil Marketing Entities.
Ghana’s President, His Excellency Nana Akufo-Addo has expressed optimism that the country will achieve the target of 10 percent of renewable energy sources into the country’s energy mix by 2030 given the level of progress made so far.
The West African nation is a signatory to the Paris Agreement on Climate Change and has, thus, committed to increasing renewable energy sources into the energy mix by 10 percent.
Since then, Ghana has initiated a number of projects towards achieving the target. Among the renewable energy projects executed by state-owned agencies are 2.4 MW solar park in Navrongo, 6.5MW solar park (Lawra) and 13.5MW solar park (Kaleo) in Upper West by VRA and the ongoing construction of 250MW solar farm by Bui Power Authority (BPA).
Besides these projects, some private entities like BXC has 20MW solar power plant at Gomoa Onyaadze, Meinergy’s 20MW and Safisana 0.1MW at Ashaiman.
Until recently when parliament passed the Renewable Energy (Amendment) Act 2020, which included hydro power as renewable, Ghana’s renewable energy had been mainly from solar and biomass.
Speaking at the commissioning of the first phase of the 250MW solar power plant executed by the Bui Power Authority, President Akufo-Addo said the project is a demonstration of Ghana’s resolve to diversify the country’s energy generation portfolio and increase renewable energy components in the energy mix.
Nana Yaw Osafo Maafo, Senior Minister delivering President Akufo-Addo’s speech at the commissioning of the first phase of the 250MW solar plant
President Akufo-Addo, who said this in a speech read on his behalf by the Senior Minister Nana Yaw Osafo Maafo, said: “This project further demonstrates my government’s commitment to fulfill our promise.
“With Bui Power Authority’s significant addition of 250MW, VRA’s 100MW (The VRA has completed 6.4MW solar plant at Lawra, with 13MW under construction at Kaleo in the Upper West Region. There is also the 60MW Pwalugu Hydropower Multipurpose project. Additionally, it is developing 150MW wind project in Anloga and West Ada Districts of the Volta and Greater Accra Regions respectively in the short to medium term) and other small solar and hydro projects, I can assure you that Ghana will attain the 10% Renewable Energy target by 2030.”
According to him, technical and cost environment now make it possible for Ghana to encourage, as a matter of policy, the large scale development of solar projects in Ghana.
“Bui Power Authority has taken the lead in this direction and I’m pleased with this progress and wish the Board, Management and staff continue to introduce innovative ways into the Renewable Energy space,” he said.
Chairman of the Bui Power Authority Board, Ambassador Afare Apeadu Donkoh said following the successful implementation of the Tsatsadu micro hydro project by the Bui Power Authority’s engineers, the Board motivated them to implement the hydro hybrid solar project.
Ambassador Afare Apeadu Donkoh,Board Chairman of Bui Power Authority
According to him, BPA has also made giant strides by adding floating solar in the energy mix.
He said, under the current Board, the Authority has been able to secure amendment of BPA Act 207, Act 740 and commended the Ministry of Energy, Energy Commission and the Attorney General’s Department for supporting them.
Source:www.energynewsafrica.com
This performance is a huge jump from the results his party had recorded since 1992 in parliamentary polls.
For instance, in 2016, the NDC candidate, Bernice Adiku Heloo, secured 35,437 as against the NPP’s Marlon Praises Anipa, who polled 6,462; which has been the usual polls outcome in most parts of the Volta Region.
With the voter roll in Hohoe having 59,228 with 124 polling stations, many doubted that Mr Amewu could win the elections. For many, he would, at best, close the gap.
Nonetheless, the win came with over 5,000 votes difference; a proof of the broken grip of the NDC in Hohoe, when compared to 2016 and other election results since 1992.
Declaring the polls, the Returning Officer for the parliamentary election in Hohoe, Wisdom Kofi Akpakli said although the opposition NDC had some concerns with the results, they had been clarified and all parties were satisfied with the results.
Mr Awemu took to Facebook to express his appreciation and gratitude to the President of the Republic, Nana Addo Dankwa Akufo-Addo, for his unconditional support to him and the people of Hohoe.
“Special thanks also go to the chiefs and queen mothers, religious leaders, national, regional and constituency NPP executives, my colleague Ministers, party members, campaign volunteer groups and supporters. God bless you all for your hard work,” he said.
He also thanked the NDC for a good contest and assured that his leadership would not discriminate but cover every resident within the constituency.
“I promise to contribute to the creation of a united and prosperous Hohoe,” he concluded.
Meanwhile, President Akufo-Addo cum Presidential candidate of the NPP secured 14,389 votes while flag-bearer of the opposition NDC, John Dramani Mahama, garnered 33,542 votes.
He added that they also hired buses to convey workers to and fro to avoid boarding public transport to protect them against Covid-19.
He said MiDA is committed to ensuring that the project was completed on schedule, noting that Ghanaians are awaiting for it.
Upon completion, the Pokuase BSP, which has a capacity of 580MVA, will be the biggest bulk supply station in the country.
Source: www.energynewsafrica.com
The country’s best performance in managing losses within the grid were recorded over a decade ago, when the transmission losses recorded was 3.5 percent for both year 2007 and 2008. These results fell right in line with the transmission loss benchmark of the country, and did not come at a cost to the country’s power transmission agency, GRIDCo.
However, since the year 2009, the percentage transmission loss in Ghana’s power sector has risen beyond the allowable of 3.5 percent. In 2009 for instance, the country lost approximately 343 GWh of electricity transmitted, representing a 3.8 percent of total 8,958 GWh transmitted.
In 2010, 2011 and 2012, Ghana recorded transmission loss of 380 GWh, 531 GWh, and 522 GWh respectively, representing 3.7 percent, 4.7 percent, and 4.3 percent of total annual power transmitted.
The trend shows upward, as the only year that transmission losses came close to the PURC benchmark was 2015. Aside that, the country has been recording losses of 4.4 percent on average terms. After dipping to 4.1 percent in 2017 from 4.4 percent in 2016, the country’s power transmission losses is seeing yet another sharp rise, recording a loss of 4.7 percent in 2019.
In absolute numbers, the amount of power lost to transmission has seen an incremental rise over the last decade. In 2019 for instance, the amount of electricity loss was recorded as 844 GWh, a growth of 16.2 percent over 2018 losses, and 30.5 percent over year 2017 loss figure.
The only year that experienced a dip in losses was year 2015, when the total electricity made available for gross transmission was only 11,692 GWh, as against 13,071 GWh in 2014 and 12,927 GWh in 2013; i.e. 1,379 GWh (about 12%) less than in 2014 and 1,235 GWh (approximately 11%) less in 2013.
Cumulatively, over the last decade, the amount of power lost to transmission is in excess of 5700 GWh, of the approximate 133,156 GWh transmitted within the period. The 5,700 GWh of power lost over the 10-year period is equivalent to one-third of the total power transmitted for consumption in 2019.
The high losses has translated into a monetary loss in excess of US$150 million over the decade. The conclusion was arrived at by striking the differences between the actual losses on annual basis and the loss benchmark (3.5%) set by the PURC, and multiplying the difference by the annual average end-user tariffs. This loss definitely impact on the financial performance of GRIDCo.
A squeeze in cash flow is likely to render GRIDCo incapable of executing its critical projects that would make the national transmission system robust and improve the reliability of power supply. It may also negatively influence the day-to-day operations of the company and make it difficult for the transmitter to meet its financial obligations to financiers, contractors, suppliers and service providers among others.
Though technically impossible to completely rid the transmission grid of losses, the provision of the needed investment in the sector would go a long way in beefing-up the system efficiency, and ensuring value-for-money (VFM). The focus must be on attaining either the 3.5 percent benchmark set by the PURC or anything below.
It is equally important to note that the growing debt owed the company by the Electricity Company of Ghana (ECG) and the Northern Distribution Company (NEDCo) hampers the ability of GRIDCo to provide for themselves modern equipment and infrastructures needed to increase efficiency in outputs.
Fritz Moses is a Research Analyst at the Institute for Energy Security (IES). He holds a Bachelor in Political Science from the University of Ghana.
The award particularly recognized Mr. Osei Prempeh’s calm leadership qualities that has led to the steady growth of GOIL which has shown resilience as an indigenous and strong Oil Marketing Company in the face industry turbulence presented by the COVID-19 pandemic.
In response to the Award, Mr Osei Prempeh dedicated the award to staff of GOIL whom he described as ‘hardworking and dedicated’, adding that ‘In the most difficult year of modern times, God has been good and the continued perseverance of all will make the team conquer all obstacles’.
Speaking at the commissioning of the first phase of the 250MW solar power plant executed by the Bui Power Authority, President Akufo-Addo said the project is a demonstration of Ghana’s resolve to diversify the country’s energy generation portfolio and increase renewable energy components in the energy mix.
Source:www.energynewsafrica.com