The Authority, in September 2019, launched a task force dubbed: “’Operation Collect, Name and Shame’, aimed at collecting overdue taxes and the names of recalcitrant businesses were published in the media and asked to settle their debts. Ghana: Seven Fuel Retail Outlets Closed Over GHS 98 Million Taxes
Seven retail outlets belonging to some Oil Marketing Companies in the Republic of Ghana have been shutdown by the West African nation’s revenue authority, GRA.
The seven retail outlets are Santol Limited, Grid Petroleum, Life Petroleum, Sawiz Petroleum, Deliman and Co. Ltd, Petra Energy and Sonnidom Limited.
They owe the state to the tune of GHc98,155, 797.62 in taxes.
Santol Ltd owes GHc57,398,141.90, Grid Petroleum owes GHc1,253, 969.51, Life Petroleum owes GHc1, 149,946.78,Sawiz Petroleum owes GHc5,122,387.20, Deliman & Co. Ltd owes GHc11, 631,689.80, Petro Energy owes GHc20, 736,960.30 and Sonnidan owes GHc862,702.13
Speaking to the press after closing down the seven retail outlets in an exercise dubbed: ‘VAT Distress Action’, Mr Nathaniel Okai Tetteh, who is the Chief Revenue Officer in charge of Debt Management, Compliance and Enforcement Unit of the GRA, said the exercise was undertaken after a failed discussions and negotiations with the companies to pay their outstanding taxes to the Authority.
Mr. Tetteh said the locked-up companies have 10 days to visit the Authority’s Head Office to settle their debts to avoid further actions like auctioning their assets.
He said the GRA would go after companies like Santol Limited, Life Petroleum, Delma Company Limited and Petra Energy which owed the Authority a huge sum of money.
He said the exercise was to enforce tax compliance and improve the Authority’s revenue generation.
The exercise also formed part of the GRA’s comprehensive national tax campaign to encourage more Ghanaians to honour their tax obligations to enable the government to meet its domestic revenue targets, increase social intervention policies and accelerate development across the country.
The Authority, in September 2019, launched a task force dubbed: “’Operation Collect, Name and Shame’, aimed at collecting overdue taxes and the names of recalcitrant businesses were published in the media and asked to settle their debts.
The Authority, in September 2019, launched a task force dubbed: “’Operation Collect, Name and Shame’, aimed at collecting overdue taxes and the names of recalcitrant businesses were published in the media and asked to settle their debts. Nigeria: Power Supply Restored To Kaduna State After 4 Days Of Blackout
Residents of Kaduna state in Northern Nigeria are now enjoying electricity after being thrown into darkness for four days.
Kaduna State, which has over 6,113,503 population, experienced blackout on Sunday as a result of a strike action by the Nigerian Labour Congress.
However, a statement issued by the Kaduna Electric Utility Company on Wednesday noted that power supply had been fully restored.
The power utility company said: “We are happy to report that power supply has been restored to many parts of Kaduna State after the suspension of the strike action by the Nigerian Labour Congress.
“As at 10:30pm , Wednesday, we were able to pick load on most of our 11KV feeders hence many parts of the metropolis including Zaria and environs, have had their supply restored. This was possible after restoration of the 33KV feeders by the Transmission Company of Nigeria.
“We, once again, thank all our esteemed customers and other stakeholders for bearing with us in the past four days. We also appreciate the efforts of the TCN team for supporting us in restoring supply back,” a statement issued by Abdulazeez Abdullahi, Head of Corporate Communication for Kaduna Electric Utility Company, said.
Source:www.energynewsafrica.com
Ghana: Parts Of Accra To Experience 16 Days Of Power Outages
Some residents in parts of Accra, capital of Ghana, will be experiencing power outages from May 27 to June 11, 2021, a statement issued by Southern electricity distribution company, ECG, has announced.
According to ECG, it has become necessary to cause interruption in power supply in parts of Accra due to the reconstruction of a section of GRIDCo’s transmission lines along the Winneba to Mallam stretch.
The power outages will start from 6pm and end at 12 midnight in over 40 communities placed in three different groups.
“The Kasoa Bulk Supply Point, which is nearing completion and sponsored by the Millennium Challenge Corporation (MCC), under the auspices of the Millennium Development Authority (MiDA), will require a re-construction of a section of GRIDCo’s 161KV Winneba to Mallam transmission lines and tie-in-works. This exercise will lead to a shortfall in the transmission of power to Accra during the peak load hours,” the Electricity Company of Ghana said in a statement.
The outage would be experienced by just one group each day until the end of the exercise.
Among the areas that would be affected by the exercise include Cantonments, Golden Tulip, Ashale Botwe Old Town, Max Mart, Teshie Tebibiano among others.
This intended power outage comes days after a similar exercise was done to allow for tie -in of the newly constructed Pokuase Bulk Supply Point to GRIDCo’s 330 kV transmission line.
Spain: We’ve No Plans For Full Takeover Of Siemens Gamesa – Siemens Energy
Siemens Energy has said it has no current plans to buy the one third of wind turbine maker Siemens Gamesa it does not already own, denying a Spanish newspaper report it had engaged banks to help it make such a move.
Spain’s stock market regulator suspended trading in Siemens Gamesa’s shares after Expansion newspaper said Siemens AG had hired Morgan Stanley to review options for the Spain-based business, including a possible takeover and withdrawal from the market.
Expansion said Siemens AG had hired the bank through Siemens Energy, which owns 67% of Siemens Gamesa. The conglomerate holds 35% of Siemens Energy directly, and another 10% via its pension fund.
The paper said Siemens had also hired Deutsche Bank to give an independent valuation.
Hours after the shares were suspended, Siemens Energy wrote in a letter to the Spanish regulator that it regularly reviewed its entire portfolio and that this included its stake in Siemens Gamesa.
“While we can of course not exclude any scenario in the future, we can confirm that SIEAG (Siemens Energy) is currently not working on a takeover bid in relation to SGRE (Siemens Gamesa),” the letter said, adding none of the mentioned banks had been mandated.
At current market valuations, the 33% share in Siemens Gamesa that Siemens Energy does not already own is worth around 5.7 billion euros ($6.96 billion).
Shares in Siemens Energy retreated after gaining as much as 4% on the news, while Siemens Gamesa’s stock rose more than 3.5% after the suspension was lifted.
Siemens Energy Chief Executive Christian Bruch said earlier this month it was too early to talk about buying out the rest of Siemens Gamesa, but that this would become an issue at some point.
Siemens Gamesa was formed in 2017 through a merger of Spain’s Gamesa and what was then the wind business of Siemens.
India: 188 Rescued From Capsized ONGC Barge, Personnel On Other Adrift Vessels Safe
Some 188 persons have been rescued and search is on for the remaining 73 onboard accommodation barge Papaa 305, contracted by state-run Oil and Natural Gas Corporation, that sunk off the Mumbai coast in the intervening hours of Monday and Tuesday.
All 137 personnel on board another barge, GAL Constructor, were rescued on Tuesday after it ran aground off Mumbai’s Colaba coast, according to latest information from the Indian Navy and ONGC sources.
Another barge Support Station-3 with 220 people on board, which was drifting north-west have been hooked to a tug boat. All onboard are reported to be safe. All the three barges belong to Shapoorji Pallonji group company Afcon and were had onboard people hired by the company.
Drillship Sagar Bhushan, which is owned by ONGC, too has been secured. The vessel had 101 persons on board, including 38 ONGC employees.
Indian Navy ships, Coast Guard vessels and other ships from ONGC and Afcon rescued the marooned people in a night-long operation through Monday amid choppy sea and cyclonic weather. The rescue efforts were still on till the time of reporting on Tuesday.
The rescuers are racing against time, battling with ferocious wind and three-storey-high waves. People aware of the situation said the choppy sea has made transfer of people from barges to rescue ships a challenging task.
Many of those rescued from Papaa 350 are reported to have been pulled out of the water after floating for many hours in their life jackets. People in the know said all on board had put on life vests and initiated evacuation measures as soon as the barge showed signs of tilting.
The barges and the drillship were deployed for drilling and exploration in Heera field of Mumbai High and western offshore, which make up ONGC’s main production base.
The vessels had gone adrift on Monday after their moorings snapped due to the ferocity of cyclone Tuktae, which pushed up wind speed to 195 km and created waves as high as 6-8 metres.
ONGC and Afcon is individually updating the families of people on board the vessels. ONGC brass is monitoring the rescue and relief operation round-the-clock.
The barges and the drillship were deployed for drilling and exploration in Heera field of Mumbai High and western offshore, which make up ONGC’s main production base.
Source:www.energyworld.com
Ghana: EU Sinks €30 Million In Ghana’s Energy Sector
The European Union has invested €30 million in Ghana’s energy sector, the EU Ambassador to Ghana, H.E Ms Diana Acconia has revealed.
The EU Ambassador made this known when she led a delegation to visit the West African nation’s Energy Minister, Dr Matthew Opoku Prempeh.
The purpose of the visit was to formally brief the Minister on the EU’s involvement in Ghana’s energy sector.
Ms. Acconia indicated that the EU was interested in further collaborating with Ghana in the areas of infrastructure, technical support and energy efficiency.
“The Ambassador, informed me that to date, the EU has been involved in Ghana’s energy sector to the tune of 30 million Euros, and that they have been working through the European Investment Bank and development agencies of various member states,” the Minister said in a post on his Facebook.
The Energy Minister expressed appreciation of the EU’s interest in Ghana’s energy sector and further remarked that energy is the lifeblood of every economy.
“I also stated that Ghana plays a huge role in the West African energy market. On renewable energy, I emphasised Ghana’s commitment to her SDG of ensuring that it constituted at least 10 percent of her energy mix.
“Ghana enjoys a warm and cordial relationship with the European Union, and I am confident that this will be leveraged further in our collaboration to actualise President Akufo-Addo’s vision for the energy sector,” his post concluded.
“The Ambassador, informed me that to date, the EU has been involved in Ghana’s energy sector to the tune of 30 million Euros, and that they have been working through the European Investment Bank and development agencies of various member states,” the Minister said in a post on his Facebook.
The Energy Minister expressed appreciation of the EU’s interest in Ghana’s energy sector and further remarked that energy is the lifeblood of every economy.
“I also stated that Ghana plays a huge role in the West African energy market. On renewable energy, I emphasised Ghana’s commitment to her SDG of ensuring that it constituted at least 10 percent of her energy mix.
“Ghana enjoys a warm and cordial relationship with the European Union, and I am confident that this will be leveraged further in our collaboration to actualise President Akufo-Addo’s vision for the energy sector,” his post concluded.
Orange Leads Solar Panel Deployment Across Africa And The Middle East
Orange, one of the world’s leading telecommunications operators is accelerating its solar projects in Africa and the Middle East to reduce its carbon footprint to zero by 2040.
Across the entire region, many sites are not connected to the electricity grid and when they are, the quality of the grid often requires alternative backup solutions. To avoid using generators that run on fuel (fossil energy that emits CO2), Orange is putting in place several initiatives such as solar panels.
In several of its subsidiaries, Orange is deploying innovative solar solutions and the latest generation batteries with partners specializing in energy.
To reduce its environmental footprint, the Group is positioning itself in these countries as the biggest deployer of solar panels, with a renewable energy use rate already at over 50% for Orange Guinea, 41% for Orange Madagascar and 40% for Orange Sierra Leone.
These solar panel solutions have also been or will soon be deployed in other African and Middle Eastern countries where Orange is present, like Liberia, for instance, where 75% of Orange’s telecom sites are equipped with solar panels.
In total, Orange has installed solar panels at 5,400 of its telecom sites (some 100% solar, others hybrid) saving 55 million liters of fuel each year.
Furthermore, in Jordan, Orange has launched three solar farms to switch to clean and renewable energy helping to reduce its carbon footprint. In 2020, these solar farm projects covered over 65% of Orange Jordan’s energy needs. Since 2018, the company has successfully reduced its CO2 emissions by 45 kilotons thanks to this solar infrastructure.
Alioune Ndiaye, CEO of Orange Middle East and Africa says: “We are proud to be the first company by number of solar panels in 5 countries in Africa and the Middle East. As a stakeholder in the energy transition, Orange has included in its Engage 2025 strategic plan the objective of meeting 50% of the Group’s electricity needs from renewable sources by 2025. We are aiming for net zero carbon by 2040.”
Orange is present in 18 countries in Africa and the Middle East and has around 130 million customers as at March 31, 2021.
With €5.8 billion in turnover in 2020, Orange MEA is the Group’s main growth region. Orange Money, with its mobile-based money transfer and financial services offer is available in 17 countries and has 50 million customers.
Orange, a multi-service operator, benchmark partner of the digital transformation, provides its expertise to support the development of new digital services in Africa and the Middle East.
Source: www.energynewsafrica.com
Ghana: Vivo Energy Ghana Renovates Brengo Presbyterian School
Vivo Energy Ghana, the exclusive marketers and distributors of Shell branded products and services together with its employees have renovated and handed over a five-unit classroom block at Brengo Presbyterian School in the Ashanti Mampong Municipality.
The project, which is under the company’s ‘Energy for Water and Education Programme’ and is the second intervention of Vivo Energy Ghana in the Municipality, received funding from employees and retailers.
In addition to the renovation, Vivo Energy Ghana provided classroom furniture, white boards, markers, a hand washing facility and gallons of hand sanitizers to the school.
Other existing classroom blocks were also repainted, with new windows and doors fixed to ensure a safe learning environment.
Speaking at the handing over of the renovated classroom block, the Corporate Communications Manager for Vivo Energy Ghana, Mrs. Shirley Tony Kum, who commissioned the project on behalf of the Managing Director said: “with our vision of becoming Africa’s most respected energy business, we strive to go beyond simply running a business to serving our communities. Not just through providing high quality Shell products and services, but also through the critical areas of road safety, education and the environment.”
Mrs. Shirley Tony Kum recalled Vivo Energy Ghana’s intervention in 2019 in the Ashanti Mampong Municipality where the company handed over two newly constructed hand-pump boreholes and educational materials to the people and school children in Hiamankyene, a community which for decades has had no access to potable water.
“The journey back to Brengo School is in line with our commitment towards the United Nation’s Sustainable Development Goal 4 of ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all. We believe the new classroom block will provide a safe shelter and a conducive environment for academic excellence to thrive”, says Mrs. Tony Kum.
Commending Vivo Energy Ghana for complementing the government’s effort at improving education, the Honourable Municipal Chief Executive (MCE) of Asante Mampong Municipal Assembly, Mr. Thomas Appiah Kubi, called for greater collaboration between corporate Ghana and the government to promote quality education in the Municipality and urged the authorities of the school to ensure proper maintenance of the facility.
Recounting how the dilapidated block had become a place for miscreants and people who indulge in all kinds of illegal activities prior to the renovation, the head teacher of the school Mr. Eric Kusi, stated that the renovated block will promote security and safety for the school children.
He also commended Vivo Energy Ghana and its employees for the timely intervention.
Source: www.energynewsafrica.com
“The journey back to Brengo School is in line with our commitment towards the United Nation’s Sustainable Development Goal 4 of ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all. We believe the new classroom block will provide a safe shelter and a conducive environment for academic excellence to thrive”, says Mrs. Tony Kum.
Commending Vivo Energy Ghana for complementing the government’s effort at improving education, the Honourable Municipal Chief Executive (MCE) of Asante Mampong Municipal Assembly, Mr. Thomas Appiah Kubi, called for greater collaboration between corporate Ghana and the government to promote quality education in the Municipality and urged the authorities of the school to ensure proper maintenance of the facility.
Recounting how the dilapidated block had become a place for miscreants and people who indulge in all kinds of illegal activities prior to the renovation, the head teacher of the school Mr. Eric Kusi, stated that the renovated block will promote security and safety for the school children.
He also commended Vivo Energy Ghana and its employees for the timely intervention.
Source: www.energynewsafrica.com
Ghana: ECG Ends Power Supply Cuts In Parts Of Accra
Ghana’s southern electricity distribution company, ECG says the eight-day interruption in power supply in parts of Accra ended at 6am today, May 18, 2021.
The power distribution company made this known in a press statement issued on Tuesday, May 18, 2021.
“Following the earlier notice of the need to interrupt power supply for the eight days from Monday, 10th May to Monday, 17th May, 2021, to enable the tie-in of the newly constructed Pokuase Bulk Supply Point (BSP) to GRIDCo’s 330kV transmission line, the Electricity Company of Ghana (ECG) wishes to inform the public especially the affected customers that the programme has ended today, Tuesday, 18th May 2021, at 6:00am,” ECG announced in the statement.
The statement added that “this project forms part of efforts to improve power supply reliability and system voltages.”
Funding Utilities: CSOs, Political Activists Must Rethink-Says Norbert AnkuECG says it would also, in the coming days, announce other planned power interruptions, necessary to enable its contractors to complete maintenance works on the Kasoa Bulk Supply Point (BSP). “Other needed interruptions in power supply to enable contractors to complete the next project, the Kasoa Bulk Supply Point (BSP), will be communicated in due course.” Source: www.energynewsafrica.com
Ghana: GWCL Cuts Water Supply To TOR Over GHS6 Million Indebtedness
Water supply to Tema Oil Refinery, Ghana’s only refinery, has been cut over huge indebtedness to the country’s water company (GWCL).
TOR, according to energynewsafrica.com sources owes the water company an accumulated debt of about GHS6 million.
Energynewafrica.com understands the water company cut water supply to the refinery in April after the refinery finished processing the last stock of crude oil consignment.
According to internal sources, the only thing that has saved the situation since water supply was cut is a reservoir of water which is expected to finish in the next few days.
Water is a key component in petroleum refinery and its unavailability could pose a huge challenge to TOR’s operations.
Attempts to speak to officials of the Tema branch of Ghana Water Company Limited has proven unsuccessful.
Source: www.energynewsafrica.com
Ghana: ENI, Springfield Delay To Unitise Afina Discovery & Sankofa Field Disappointing-Says IES
The Institute for Energy Security (IES), an energy think tank in the Republic of Ghana, has described as shocking and disappointing the inability of Springfield E&P and Eni Ghana Exploration & Production Limited to implement a directive of the government to unitise the Afina discovery and the Sankofa Field at the country’s oil fields in the Western part of the country.
The two entities were directed by the country’s former Energy Minister, John Peter Amewu, about year ago to execute a Unitisation and Unit Operating Agreement (UUOA) with respect to the Afina discovery in the West Cape Three Points (WCTP2) and the Sankofa Field in the Offshore Cape Three Points contract areas.
However, barely a year after the directive was issued, IES says information available to them indicate that ENI and Springfield E&P are yet to execute the UUOA, which it says among other things, would lead to maximum economic benefits for the country and for the parties involved in the production of the unitised accumulation.
Making reference to section 34(1) of the Petroleum (Exploration and Production) Act 2016 (2019) and citing similar principles of international practices, the IES noted that the delay in unitising the OCTP and WCTP-2 is a loss of opportunity for the country to reap maximum benefits from the economic incentives associated with unitisation of oil and gas fields.
The energy think tank called on the government to update the country on the progress so far made on its unitisation directive to Springfield and Eni, as part of its accountability on the country’s petroleum resource management to the citizens of the country.
Meanwhile, information available to energynewsafrica.com indicates that one of the parties involved has been dragging its feet in the whole process hence the delay.
Source: www.energynewsafrica.com
Ghana: Armah-Kofi Buah Honoured For His Role In Developing Ghana’s Energy Sector
A former Energy Minister under the previous government and incumbent Member of Parliament (MP) for Ellembele Constituency in the Western Region of Ghana, Emmanuel Armah-Kofi Buah, has been honoured at the Ghana Ministers of State Excellence Honours for his achievements in the Energy and Petroleum sector.
The awards scheme was instituted to recognise Ministers of State who had served West African nation diligently and distinguished themselves in the course of their duty to advance the development of the country.
According to a report filed by Citinewsroom.com, Armah-Kofi Buah was honoured alongside other former and current Ministers of State.
He served as a Minister for Energy and Petroleum from 2013 to 2016.
He is credited to have played a key role in the Petroleum Revenue Management Act, Act 815, Petroleum Local Content and Local Participation Regulations, 2013, L.I. 2204, the establishment of the Petroleum Commission among others, which have become the bedrock of Ghana’s petroleum Industry.
Mr. Buah, who is the four-time Member of Parliament for the Ellembelle Constituency and currently the ranking member of Trade Industry and Tourism Committee of Parliament, while accepting the award, said he would continue to do his best for Ghana in all endeavours whenever given the opportunity to serve.
“It energizes me to continue to work so hard for our country Ghana that we love so much. This serves as a morale booster and motivation for the course I have chosen as an MP. I believe that when given the opportunity to serve, you must serve with honesty, humility and loyalty to Ghana, which I will always work hard to achieve,” he said.
The former Energy and Petroleum Minister also used the occasion to acknowledge persons who played a role in his Ministerial performance and his constituents.
“Thanks to the late President J.E.A. Mills for appointing me as the Deputy Minister for Energy and Petroleum from 2009-2012 and to former President John Dramani Mahama for promoting me as the substantive Minister for Energy and Petroleum as well as the team at the Ministry. It’s very humbling to be celebrated today for our hard work that saw key transformational policies like the passage of the Petroleum Exploration and Production Act, 919, the development and production of 3 major oil fields thus Jubilee, TEN and Sankofa which are today the key sources of government’s revenue. The feat being celebrated today cannot go without the mention of the establishment of Ghana Gas Company that brought Ghana to indigenous gas production and curtailed the long LPG lines and the additions of new power projects like Karpowership, Cenpower, Amandi etc. to address the power crisis and our efforts to bring sanity in the downstream petroleum sector such as the price deregulation and the privatisation of the BOST storage facilities to curtail annual fuel losses.
“I dedicate this award to the good people of Ellembele and those who perished or got injured in the 2020 election. You have stood by me and trusted me to represent you for four terms totalling 16 years in Ghana’s Parliament and I don’t take that for granted at all,” he added.
Emmanuel Armah-Kofi Buah holds a Law Degree from the Kwame Nkrumah University of Science and Technology and a Master of Science Degree in Management from the University of Maryland, University College in the United States.
Source: www.energynewsafrica.com
“It energizes me to continue to work so hard for our country Ghana that we love so much. This serves as a morale booster and motivation for the course I have chosen as an MP. I believe that when given the opportunity to serve, you must serve with honesty, humility and loyalty to Ghana, which I will always work hard to achieve,” he said.
The former Energy and Petroleum Minister also used the occasion to acknowledge persons who played a role in his Ministerial performance and his constituents.
“Thanks to the late President J.E.A. Mills for appointing me as the Deputy Minister for Energy and Petroleum from 2009-2012 and to former President John Dramani Mahama for promoting me as the substantive Minister for Energy and Petroleum as well as the team at the Ministry. It’s very humbling to be celebrated today for our hard work that saw key transformational policies like the passage of the Petroleum Exploration and Production Act, 919, the development and production of 3 major oil fields thus Jubilee, TEN and Sankofa which are today the key sources of government’s revenue. The feat being celebrated today cannot go without the mention of the establishment of Ghana Gas Company that brought Ghana to indigenous gas production and curtailed the long LPG lines and the additions of new power projects like Karpowership, Cenpower, Amandi etc. to address the power crisis and our efforts to bring sanity in the downstream petroleum sector such as the price deregulation and the privatisation of the BOST storage facilities to curtail annual fuel losses.
“I dedicate this award to the good people of Ellembele and those who perished or got injured in the 2020 election. You have stood by me and trusted me to represent you for four terms totalling 16 years in Ghana’s Parliament and I don’t take that for granted at all,” he added.
Emmanuel Armah-Kofi Buah holds a Law Degree from the Kwame Nkrumah University of Science and Technology and a Master of Science Degree in Management from the University of Maryland, University College in the United States.
Source: www.energynewsafrica.com
Ghana: Petrol, Diesel Prices To Go Up Again
Fuel prices are likely to witness marginal increases on the local market beginning Monday, May 17, 2021.
Petrol and Diesel currently sell at GHS6.04 per litre.
This follows the introduction of sanitation and pollution tax of 10 pesewas each on petrol and diesel and 20 pesewas Energy Sector Recovery Levy (ESRL).
However, as the second fuel pricing window begins Monday, the Chamber of Petroleum Consumers Ghana, a consumer advocacy group in Ghana, is forecasting a further hike in fuel prices due to increase in crude oil price on the international market.
A statement issued and signed by Duncan Amoah, Executive Secretary of COPEC, said the increases on the International market translate to around GHp8/litre on the local pump prices for both petrol and diesel or around five percent on the international price index, representing a further increase of about 1.25 percent variance on the current prices.
FUEL PRICES GOING UP AGAIN IN A SPATE OF 10 DAYS
Barely a fortnight after prices at the pumps in Ghana shot up by over 12% due to the introduction of some taxes, increases in margins by the Npa and industry as well as increases on the international market fuel prices are set to go up again in the next few hours.
Geopolitical events over the past few days has led to increases in International Market Prices from $630.525/mt to around $655.625/mt for premium or petrol as of friday whiles prices of AGO or diesel has moved from $520/Mt to $545/Mt.
Lpg has also seen a little over $1.6377 increase within the period though the country’s currency has been relatively stable within the period.
These increases on the international market translates to around Ghp 8/litre on local pump prices for both petrol and diesel or around 5% on international price index representing a further increase of about 1.25% variance on current pump prices.
This variance is expected to likely reflect at the Ghanaian pumps on or before Tuesday (18/05/2021) and will eventually add on to the recent increases of over 12% a few days ago thereby bringing the cumulative increases at the Ghanaians pumps to, in excess of a cumulative nominal Ghp 68/litre or 14% increases at the pumps within a spate of under 10 days.
The trend if not checked could likely continue or escalate as the geopolitical developments are pointing to bullish sentiments on the international market in the coming days.
The country does not have seem to have in place any mitigating policies or programmes in place to cushion the average Ghanaian from these International Market price shocks as the effects reflect directly at the pumps and on pockets.
A myriad of taxes including the Price Stabilisation and Recovery Levy component on pump prices which should have provided a buffer in times like these for some of these price movements has barely ever been used to cushion Ghanaians and the market around these times when needed and thus fuel prices becoming pretty unbearable on pockets.
The country’s Strategic Stocks which could have also been used to offset these price movements on the international market is currently non existent as the Bulk Oil Storage and Transportation instead of holding strategic stocks has now become fully commercial in their outlook though they continue to take monies from Ghanaians at the pumps in the name of Bost margins, we believe this particular margin ought to be looked at again if we need to bring fuel prices down.
The current state of Ghana’s only National Refinery leaves so much to be desired as nothing seems to work from poor management practices and decisions as no productivity is happening there, even water has over the past few weeks been disconnected from the Refinery due to its inability to settle Ghana Water Company its indebtedness.
We call on Authorities to as a matter of urgency put concrete strategies in place to forestall these increases as it is affecting harshly the general cost of living within the country with transport operators waiting to slap increases on fares in the coming days.
Signed.
Duncan Amoah
Executive Secretary.
Algeria: Gov’t To Launch Call For Tenders For 1,000 MW Clean Energy
The Algerian government is preparing to launch a call for tenders to select a qualified company to produce 1,000 MW of renewable energy, with some conditions for foreign investors.
In terms of renewable energy production, Algeria lags behind its neighbours Morocco and Egypt.
But the country wants to diversify its electricity mix.
This is what justifies the call for tenders that Algiers is currently preparing.
The aim is to obtain a new installed capacity of 1,000 MW.
This electricity will be produced from renewable sources, the most abundant of which in this North African country is solar.
In a decree published on April 29th, 2021 in the official gazette, the Algerian government empowered Chems Eddine Chitour, the Minister of Energy Transition and Renewable Energies, to manage and supervise the entire operation.
The call for tenders, which will be launched between June and July 2021, will be divided into 10 lots of 100 MW each, open to foreign investment.
In the wake of this, the Algerian government is preparing to set up a bankable electricity purchase agreement (in dollars) for the independent power producers (IPPs) that will be selected at the end of the process.
According to Mouloud Bakli, president of the Algerian think tank Club Energia, these investors will however have to meet certain requirements, such as the use of equipment manufactured locally in Algeria. These are mainly solar panels, assembly structures and electrical cables.
Algeria already has several factories manufacturing equipment for the production of solar energy.
In the Boukherana industrial zone, near Chelghoum El Aid (400 km from Algiers), the Algerian company Milltech has a factory capable of supplying 100 MW of solar panels per year. In the wilaya of Ouargla, another factory will soon produce 160 MWp of solar panels per year. In June 2020, the Algerian company SPS (Système Panneaux Sandwiches) and Qi-Energy, a company based in Dubai in the United Arab Emirates, launched a joint venture for the manufacture of mounting structures for the modules.
Local sourcing of construction materials for renewable energy plants will reduce electricity purchase prices in Algeria.
According to Business France, the North African country has an installed capacity of 21,000 MW (2019). This electricity is 99% produced from hydrocarbons, notably natural gas (98%) and oil. In the Algerian Programme for the Development of Renewable Energy and Energy Efficiency (PENREE) launched in 2012, the authorities were counting on an installed capacity of 20 000 MW of renewable energy, including 13 575 MW of capacity for solar and 5 000 MW for wind by 2030. The chances of meeting this target are slim.
Source: www.energynewsafrica.com