Ghana: A Look At Factors Driving Petroleum Refinery Profitability (Article)“But, we all will appreciate looking into the net worth and looking into the size…the government is treading very cautiously (on) how to offload (the stake) through (a) proper process,” he explained. BPCL’s shares have tumbled by about 38 percent from highs seen in November last year as fuel demand in India has been hit by restrictions imposed to stem the spread of the coronavirus. India’s demand for refined products is expected to rise, requiring a 40 percent increase in the country’s refining capacity to 350 million tonnes a year or seven million barrels per day (bpd) by 2030, Mr Pradhan said. India plans to build a 1.2 million bpd refinery and petrochemical plant on the country’s West coast through a joint venture made up of Indian state refiners, Saudi Aramco and Abu Dhabi National Oil Co. But, the project has been held up as the joint venture has not yet acquired land after protests from farmers. Mr Pradhan said the local issues impacting the project would be sorted out “very soon.” The Minister also said that the Federal Government planned to gradually end the subsidy on cooking gas.
India: We’re Cautious On Privatising Bharat Petroleum Corp-Oil Minister
Nigeria: Oil & Gas Earnings Hit N24 Trillion In 5yrs
Somalia: Seven Offshore Oil Blocks Offered To Investors In Maiden Licensing Bid RoundThe revenue from the oil and gas sector comprised earnings from crude oil and gas exports, Petroleum Profit Tax, PPT, royalties and domestic crude oil sales. Oil earnings from 2015 to 2019 represented 60.25 percent of the combined budget figure for the same period. The average price of crude oil, which is one of the major drivers of the earnings for the five-year period, 2015 to 2019, was $55.32 per barrel, but the 2020 average has since dropped to $38. Giving a breakdown of the country’s oil earnings, the reports revealed that N3.83 trillion, N2.69 trillion, N4.1 trillion, N5.55 trillion and N5.54 trillion were recorded as oil revenue in 2015, 2016, 2017, 2018 and 2019 respectively. Source:www.energynewsafrica.com
South Africa Looks To Becoming A Global Gas Market Player
Ghana: VRA To Install Rooftop Solar System On Lawra Municipal Hospital, Others
Ghana: VRA To Lead In Renewable Energy DevelopmentThe Lawra Chief’s Palace will be have an installation of 17.5kWp standalone solar rooftop system. This will be done by Ghana’s largest power generation company, Volta River Authority (VRA), in partnership with Spanish Electrical company, Elecnor S.A. The Board Chairman of VRA, Kweku Andoh Awotwi, who disclosed this during the commissioning of 6.54MWp solar power plant in Lawra in the Upper West Region, explained that the initiative formed part of the VRA’s Corporate Social Responsibility (CSR) to give back to the people in the Upper West. Source:www.energynewsafrica.com
Ghana: PURC Commissions Energy Test Meter Laboratory In Accra (Photos+Video)
“It will ensure that energy meters being used by regulated utilities are efficient and fall within appropriate accuracy limit. Furthermore, it will enable the Commission to carry out random meter sampling tests and assert its independence and impartiality in carrying out its regulated functions.”
She commended the contractor, Alpha TND, an Indian company, for working hard despite the coronavirus pandemic to ensure that the project was completed.
Alpha TND Ltd is one of the leading product & solution providers in Power Transmission & Distribution Sector with its firm footprints in West Africa.
Alpha TND is an ISO certified company and has executed meter testing facility for ECG and NEDCo in Ghana, Togo, Benin, Burkina Faso and Mali.
Source: www.energynewsafrica.com
Ghana: ACEP Launches Contract Monitoring Platform
“Sadly, ACEP’s 2019 update of contract monitor revealed no significant improvements from 2017 findings. Only two companies graduated into the compliance bracket. Companies have failed to deliver on their contractual obligations due to lack of competition for blocks (all contracts monitored were granted based on the open-door policy); weak parliamentary oversight; poor track record of some companies; and political patronage of the inefficiencies we see,” it stressed.
ACEP has, therefore, urged the government to review existing petroleum agreements and sanction non-compliant contracts in the sector to engender efficiency.
“At this point, let me commend the leadership of the Petroleum Commission for taking this project seriously by providing ACEP with every collaborative support to this day. We are also grateful to STAAC for funding ACEP’s initiative to support the government’s efforts in ensuring obligations in upstream oil and gas industry,” the report noted.
The report said the Ghana Contract Monitor is a representation of how far Ghana has come from the abyss of extractive contract transparency, adding that it was not enough in the wake of an era of open contracting.
ACEP intends to expand the scope of the Ghana Contract Monitor Platform to cover a century-old mining industry to legalise and implement international best practices on open contracting that achieves good accountability results at every stage of the mining value chain for meaningful development outcomes.
“I must emphasise that the Ghana Contract Monitoring Platform was designed with every person living in Ghana in mind. We are resolute in our drive for disability inclusion in the resources sector and have made this platform friendly for the blind with text to speech features,” she observed.
ACEP, therefore, urged the media and Ghanaians to be actively interested in accessing information that empowers their minds and amplifies their voices to demand transparency and accountability in the extractive industry.
The Ghana Contract Monitor Platform is an online tool that provides updates on work of non-producing extractive sector companies that have valid agreements with the Government of Ghana to explore, develop and produce petroleum and mineral.
Source:www.energynewsafrica.com
Electric Vehicle Market Hits New Milestone
Mozambique: Africa Oil & Power Unites Mozambique Pro-Gas Alliance For Gas & Power 2021 Event
COVID-19: How Nigeria Can Use Renewable Energy To Kick Start Post-Pandemic Economy – MD, Lumos NigeriaThe chamber was established in January 2020 with a mandate to build industry networks and support national companies, in large part through training, certification, knowledge transfer and technology. It will also set up a platform to assist companies in providing goods and services in Mozambique. Mozambique Gas & Power 2021 will take place on March 8-9 in Mozambique (venue to be announced) under the theme ‘Leveraging LNG: Building a Prosperous Mozambique’. Home to Africa’s largest ever foreign direct investment project, Mozambique LNG, the nation is set to be transformed by its natural gas finds and their development. In addition to Mozambique LNG (operated by Total), additional production and processing projects Rovuma LNG (led by ExxonMobil and Eni) and Coral FLNG (led by Eni) are underway, with the Coral floating LNG unit expecting first production in 2022. Honoring the leadership of H.E. President of Mozambique Filipe Nyusi, Africa Oil & Power earlier this month named the President its ‘Person of the Year’. The award recognizes Mozambique’s great strides forward in attracting investment and setting up the framework for the natural gas industry to grow, providing opportunity for international investors, the Mozambican people and local businesses. “Gas is a transformative fuel and we see great positive change ahead for Mozambique,” said Mucave. “It is an honor to see the President’s efforts being recognized by Africa Oil & Power, but we also know that there is much work ahead to realize the full potential of our resources, and the Mozambique Gas & Power event and investment drive will be an important part of that.” Mozambique Gas & Power will take place on 8-9 March 2021 and online registration is open at www.MozambiqueGasAndPower.com. Organizer Africa Oil & Power invites interested potential partners to contact International Conference Director Sandra Jeque at [email protected]. If your organization would like to learn more about sponsoring or exhibiting at MGP 2021, please contact [email protected].
India: Massive Power Outage Leaves Trains Stuck On Tracks In Mumbai
Ghana: Special Ice Water Company Ltd Commissions 1000kWp Rooftop Solar ProjectTata Power, which is into both generation and distribution, attributed the power outage to a simultaneous substation tripping at 1010 hrs at state-run transmission company MSETCL’s two substations in the suburbs of Kalwa and Kharghar. Raut said power supply will resume soon, as officials were working on it on a war footing. As the afternoon progressed, power at many pockets including the Bandra Kurla Complex business district, Lower Parel and South Mumbai started resuming. With work-from-home (WFH) becoming the norm across vital industries like banking, finance and information technology, employee output was also impacted as the residences do not have electricity backup in a city which generally has stable power. Source:www.energynewsafrica.com
Nigeria: New Electricity Tariff Suspension Extended By One Week
Nigeria: NERC Calls For Abolition Of Electricity Tariff SubsidyHe disclosed that the distribution would be completed before December. The resolution read by the Chairman of the Technical Committee and Minister of State for Labour and Employment, Festus Keyamo said: “The committee adopted a two-phase approach to proffer solutions that would help resolve issues affecting the sector in the medium term while providing relief to customers immediately. “The immediate relief would be provided to citizens for a two to three-month period (not later than December 31, 2020), being the timeline for the conclusion of an extended scope of work for the Technical Committee.” Some of the issues to address include a timeline for the distribution of the six million electricity meters being pledged by the government as part of the palliative deal. In the report of the committee, the Federal Government accepted to procure six million meters to be distributed by the Discos to electricity consumers without metres. It said: “Six million meters will only be through local meter manufacturers and assemblers and will be targeted at creating local jobs and a new meter manufacturing sub-sector in the country.” The report also provided for salary protection for electricity workers. It said that the government would ensure that the salaries for electricity workers were protected in the revised payment waterfall structure. The report further stated: “Mandatory monthly publication by Nigeria Electricity Regulatory Commission (NERC) of allowed billings in Naira for unmetered customers to make the capping regulation more effective. “NERC will publish maximum charges in Naira for consumers without meters (in support of the capping regulation); freezing of customer band migration during the interim period in order to protect customers from changes in tariff during the two to three-month period of review by the Joint Technical Committee.” The report said that Discos would be directed to temporarily suspend customer band migration. “This means that while Discos are expected to fulfill their Performance Improvement Plans (PIP), thereby, improving the quality of service to customers, no added charges will be passed on to customers during this period. This measure is aimed at building confidence in the Service-based Tariff structure.” Other aspects of the technical committee’s report include the inclusion of labour representation in NERC, extensive review of key sector reforms, ground Audit of implementation across Discos, review of monitoring and evaluation mechanisms set up by NERC and the Discos. Others are gas pricing, review mechanisms for pricing the domestic supply obligation (DSO) and the foreign exchange component(s), decentralisation of the grid. The government is to explore ways to accelerate investment and bring more players into the sector, drive investment and reduce costs for end-users. Options should be in addition to the franchising and mini-grid regulations. On the issue of import duty waivers for the electricity sector, the committee was mandated to investigate and recommend ways for the electricity sector to receive incentives that would reduce costs across the value chain that would impact on tariff. Organised labour, led by the President of the Nigeria Labour Congress, (NLC), Ayuba Wabba, and Trade Union Congress (TUC), Quadri Olaleye, demanded an inclusion of timelines for the implementation of the report. They insisted that there should be a timeline for the distribution of the six million meters promised by the Federal Government. Mr Olaleye sought to know what the Federal Government would do with the N1.7 billion it said would be saved daily from the removal of subsidy on electricity tariff.
BP Launches Ghazeer In Oman
We’re starting production from Ghazeer gas field in Oman. This major new project reflects bp’s commitment to resilient and focused hydrocarbons. Plus, using ‘green completions’ 201,000 tonnes of CO2e emissions have been saved in Oman since 2019.
— bp (@bp_plc) October 12, 2020
ENGIE Appoints Gillian-Alexandre Huart As CEO For Africa Business Unit
Ghana: Electricity Supply In Upper West To Improve As VRA Completes 6.85MW Solar Park In Lawra (Video)In his new role he will be responsible for driving ENGIE’s ambitious goal of maintaining market leadership and providing long-term impact on the lives of Africans. Huart: “I am honoured and motivated to be leading a business with a mission that is key for ENGIE. Over 600 million people in sub-Saharan Africa lack access to electricity and we have an important role to play in addressing this gap. “With the integration of the three companies, we are now able to serve our customers according to their specific energy needs – from basic lighting and phone charging, to more advanced systems for households all the way to powering productive use equipment to promote entrepreneurship and boost economic activity in rural communities” Huart added. Universal electrification is the seventh of the United Nations Sustainable Development Goals that the global community has committed to achieve by 2030. ENGIE says it is confident that universal access to energy is achievable in the foreseeable future, through smart investments in a combination of national grid extension, solar home systems and mini-grids.
Ghana Energy Awards Nominees’ List Out With New Entrants


