Ghana: PIAC Tasks Parliament To Find The Whereabouts Of $1.5 Billion Petroleum Fund“Tullow believes that it is important for suppliers to have in place robust business continuity plans in order to mitigate supply chain risks that result from the impact of the Covid-19 pandemic. Suppliers need to have the tools to sustain their businesses and build resilience.The Business Recovery and Resilience Toolkit was therefore developed by IIA and partners including Tullow to provide support to SMEs. Tullow sees great value in collaborating with IIA on the delivery of this initiative.”- Otuko John-Teye, Contracts and Procurement Manager, Tullow Ghana Tullow has collaborated with IIA since 2014 to attract foreign direct investment into Africa, unleash the potential of the continent, and stimulate economic growth and prosperity. Since inception, Tullow has funded various IIA initiatives including the African Partner Pool (APP) and the Business Linkage Programme (BLP). The APP is an online marketplace that allows SMEs to promote the products and services they can deliver. This makes it easier for big companies to find the right local suppliers to work with. So far, the APP has over 1,700 suppliers registered, with 26 buyers using the platform to source their goods and services. The APP has seen a total of 333 tenders floated on the platform with a total value of $832million. APP registered suppliers have won 80 tenders with a total value of $154million. The APP provides SMEs the opportunity to receive tender alerts from Tullow and other partners, as well as access to training and finance. Source:www.energynewsafrica.com
Ghana: 57 SMEs Benefit From Tullow & Invest In Africa Supplier Workshop
Oil and gas firm, Tullow Ghana and its partner in promoting direct support for SME businesses in Africa – Invest in Africa (IIA) have adopted virtual means to educate and train indigenous companies in its supply chain on how to mitigate the severe effect of the Coronavirus pandemic and share information on relief available post pandemic.
According to Bastiat Ghana, a liberal economy think tank, 92% of companies registered in Ghana are SMEs with 85% of SMEs offering employment in the manufacturing sector.
This data underscores the need to develop and empower SMEs as they contribute significantly to the Ghanaian economy.
For Tullow and other International Oil Companies, SMEs form a significant percentage of the supply chain.
Indigenous companies and Joint Venture companies with indigenous participation hold 83% of Tullow Ghana’s contracts.
On Tuesday 23rd June 2020, IIA and Tullow Ghana organised a virtual workshop for 57 SMEs who are members of IIA’s African Partner Pool (APP) focusing on “Business Recovery & Effective Tendering.”
As the COVID-19 pandemic persists, Tullow and IIA anticipate that SMEs will continue to experience unpredictable supply and demand for their business, diminished confidence from the financial markets, and a reduction of credit.
These concerns were addressed at the webinar to help SMEs access procurement opportunities, create awareness about the finance support available and assist them in successfully securing contracts as the nation reopens and companies gradually resume full operations.
ExxonMobil, Employees, Others Contribute $12.8 Million To Texas Colleges And Universities
More than 80 accredited colleges and universities in Texas, USA, are expected to benefit from an amount of $12.8million to be disbursed under the ExxonMobil Foundation Educational Matching Gift Program.
The amount is a contribution from ExxonMobil employees and retirees.
The contribution from employees and retirees amounted to nearly $4 million while the $8.8 million was from ExxonMobil Foundation.
The ExxonMobil Foundation program matches individual donations to accredited colleges and universities in the United States.
The American Indian College Fund, Hispanic Scholarship Fund and United Negro College Fund also receive donations as part of the matching gift program.
While the grants are unrestricted, colleges and universities are encouraged to designate a portion of the funds they receive to science, technology, engineering and math (STEM) programs supporting student engagement.
“Supporting education is a key priority for ExxonMobil, its employees and retirees,” Kevin Murphy, president of the ExxonMobil Foundation said.
“Our educational matching gift program provides critical resources to inspire today’s students to become tomorrow’s innovators and problem solvers.”
Nationally, more than 4,100 ExxonMobil employees and retirees contributed nearly $16 million to 790 institutions of higher education in 2019, and those contributions will be matched with more than $37 million in unrestricted grants from the ExxonMobil Foundation.
The ExxonMobil Foundation matches donations to eligible U.S. colleges and universities of up to $7,500 a year on a 2-to-1 basis for employees and on a 1-to-1 basis for retirees.
ExxonMobil and the ExxonMobil Foundation also support teacher training initiatives and programs that encourage students, particularly women and minorities, to consider careers in STEM areas.
Source:www.energynewsafrica.com
South Africa: Enaex, Sasol Conclude Explosives Joint Venture Deal
Sasol, a South Africa- based integrated chemicals and energy company and Enaex, a subsidiary of the Sigdo Koppers Group, have announced the start of operations in Southern Africa.
The new explosives joint venture Enaex Africa started operation effective July 1, 2020.
In 2017, Sasol commenced with a detailed asset review to ensure all assets in the company’s global portfolio deliver against stringent financial metrics and where aligned with the company’s growth strategy.
In line with this review, Sasol’s explosives business was identified as having substantial growth potential that could be unlocked through collaboration opportunities, including the possibility of partnering with a world-class explosives brand.
In June 2019, after a robust evaluation process, Enaex S.A. was selected as Sasol’s preferred strategic partner to create a world-class explosives business on the African continent.
The new company will operate under the name of Enaex Africa. Enaex will be the majority shareholder and will take over management and operational control of the entity from 1 July 2020. Enaex in association with Sasol will comprise certain assets and associated activities spun off from the current explosives and rock fragmentation value chain of the base chemicals business of Sasol South Africa. This JV includes the associated business activities in both South Africa and other countries in Southern Africa.
“We are delighted to announce that on 1 July 2020, Enaex Africa in association with Sasol will officially start operating in South Africa and on the African Continent. Enaex is a Chilean company celebrating a 100 years of history and leadership in the explosives business in South America and together with Sasol will be a force to be reckoned in the Mining Industry,” President and CEO of Sasol Fleetwood Grobler said.
Founded in 1920 in Chile, Enaex brings to the Southern Africa industry a century’s experience in the global explosives market with their core business being Ammonium Nitrate production – Enaex is the third-largest industrial grade ammonium nitrate producer in the world – explosives production and blasting services.
Enaex is also one of the few explosives companies in the world that can produce and offer the entire spectrum of products and solutions to execute the blasting process. The company has subsidiaries in eleven countries, including Argentina, Peru, Brazil, Colombia, France, the US, Mexico and Australia, and exports to more than 40 countries all over the world.
Enaex, provides blasting services to some of the major mining companies in the world, such as Anglo American, BHP, Codelco, KGHM, Glencore, Vale, Yamana Gold and Teck Resources.
This deal is part of the strategic plan of Enaex to continue strengthening its international presence in the most important mining regions of the world.
Francisco Baudrand, CEO of Enaex Africa noted, “This is truly an incredible day for Enaex with a new venture on a new continent. This Joint Venture is a platform of growth for Enaex not only in Southern Africa, but also for us to become the leaders in explosives and blasting services for the Mining Industry on the African continent.
Meaningful participation for BBBEE has also been catered for in the shareholding structure in line with South Africa’s transformation agenda, which is fully supported by both Sasol and Enaex.
Source:www.energynewsafrica.com
Nigeria: NNPC Allays Fears Of Possible Fire On Dripping Lagos Pipeline
The Nigerian National Petroleum Corporation (NNPC) has called on members of the public to disregard media reports of a possible fire outbreak from a vandalized point on its pipeline at Aboru Canal in Alimosho Local Government Area of Lagos State.
According to the NNPC, there is no such hazard, as the line in question is offline for repairs and presently contains only water.
The Corporation, in a release by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that the Atlas Cove – Mosimi stretch of the System 2B Pipeline was shut down on June 25, 2020, to enable comprehensive maintenance of some segments of the pipeline.
Nigeria: NNPC Raises Alarm Over Off-Spec Diesel In MarketThe NNPC said the repair work was on the last stage of completion which involves hydro testing – a process of pumping of water through the entire pipeline for integrity test and leak detection – to ascertain availability of the pipeline for pumping products. The corporation noted that following a report from the dedicated patrol team about a leakage at a point in the Aboru Canal, water pumping was suspended immediately at 09:27hrs to enable the maintenance team effect necessary repairs. The NNPC urged residents of the affected community to remain calm, as there is no possibility of a fire erupting from the leakage point.
Ghana: 30-Year-Old Man Electrocuted At Sakumono After Climbing Electric Pole
Information reaching energynewsafrica.com from Sakumono, a suburb of Tema, in the Republic of Ghana, indicates that a man believed to be in his thirties has been electrocuted.
The victim, whose name was only given as Kofi, was said to have been engaged by someone to rectify an electrical problem in the area when the incident occurred.
A resident of the area told Accra-based Adom FM that the incident occurred at an area called Chapel Square.
According to him, there was a power outage in the area following Saturday’s morning rain.
Ghana: Enclave Power Company Replies Steel, Cement ManufacturersHe said the victim climbed one of the ECG’s distribution poles in area to connect power for the customer who contracted him, only for ECG to restore power and, eventually, trapping Kofi on the grid pole. The lifeless body of the deceased is still hanging on the pole. According to eyewitness, officials of had ECG arrived at the scene but said they were waiting for the police before they would bring the lifeless body down.
European Travel Bans Are Counter-Productive And Hurting The Oil & Gas Sector –African Energy Chamber
The African Energy Chamber has expressed worry over the continuation of travel restrictions and suspension of visas and travel between Africa and Europe.
According to the Chamber, the development is heavily restraining the oil & gas industry’s recovery efforts.
The oil & gas sector relies on global value-chains and successful cooperation and movement of people, goods and services between foreign and local contractors.
The ongoing travel bans and restrictions of visa issuance are de facto; preventing many projects to move forward and to successfully contribute to the recovery of the continent.
Major international oil companies such as Total, BP, Shell, Eni, ExxonMobil, Chevron or Equinor and independents such as Kosmos Energy, BW Energy, Maurel & Prom or Tullow Oil that operate a major share of Africa’s daily oil and gas production are currently unable to operate fully and safely because of such travel restrictions.
Similarly, they directly impact the operations of the major international services and EPC companies supposed to work on major projects such as Saipem, TechnipFMC, Schlumberger or Halliburton.
“We cannot base our recovery narrative and hopes on the oil & gas sector and at the same time forbid the movement and travel of the workers and employees supposed to make that recovery happen,” declared Nj Ayuk, Executive Chairman, at the African Energy Chamber.
“We are urgently calling for pragmatism and the adoption of realistic measures that put workers’ safety and economic recovery at the center of public and travel policies priorities,” he added.
From West to Southern Africa, landmark energy projects worth billions of dollars have been delayed because of the ongoing pandemic of Covid-19 and its subsequent lockdowns and travel restrictions.
However, as economies gradually reopen, a new wave of travel restrictions, especially on the issuance of visas between Europe and Africa, is adding up to the list of challenges the industry faces to play its key role in the continent’s economic recovery.
“Such restrictions are threatening the efficient operations of global value-chains whose functioning is critical to enable Africa’s energy projects to move forward,” the Chamber argued.
Source:www.energynewsafrica.com
Nigeria : Pirates Kidnap 9 Nigerians From FPSO
Pirates attacked an oil production vessel off Nigeria in the early hours of Thursday and kidnapped nine Nigerian nationals, the ship’s owner BW Offshore said.
The Sendje Berge ship was undergoing maintenance when the attack happened, BW Offshore’s Chief Financial Officer Staale Andreassen told shipsandports.com.ng.
The Oslo-listed company said none of the people remaining on the vessel were injured.
“We are working now with the Nigerian authorities to get those nine people safely back,” Andreassen added.
The vessel, a floating production, storage and offloading vessel (FPSO) that can produce about 50,000 barrels per day, was working at the Okwori oilfield operated by Addax Petroleum, a part of China’s Sinopec Group.
A maritime security firm Dryad Global, citing unidentified reports, said the attack involved three boats and explosives, making it unusual.
Andreassen said he could not confirmed that a number of boats had been involved, but denied that explosives were used during the attack.
Our Journey To Electrify The Continent: Five Years Of The New Deal On Energy For Africa (Article)
By Dr. Kevin Kariuki
Five years into the African Development Bank’s ambitious New Deal on Energy for Africa (NDEA), the Bank’s investments are set to provide electricity access to around 13 million people and deliver about 55,000 km of distribution lines, and 6,700 km of transmission lines, of which 3,200 km are for regional interconnections.
The NDEA called for a substantial increase in investments to realize the Bank’s High 5 priority to “Light Up and Power Africa,” which aims to mobilize finance and expertise to expand access to reliable, sustainable energy for more than 200 million Africans through investments in power generation, inter-connections, transmission and distribution.
This effort is critical to unlocking Africa’s vast economic potential, enabling the growth of value-adding industries and services, and, most importantly, unleashing the ingenuity of the continent’s 1.3 billion people.
The strategy was grounded in the recognition that partnerships are central to its success.
In collaboration with African countries, the Bank’s interventions have ranged from setting up the right enabling policy environment, supporting utilities, to increasing the number of bankable energy projects. Additionally, the Bank is accelerating major regional projects and driving integration through the Program for Infrastructure Development in Africa, whilst also supporting bottom-of-the-pyramid energy access programs.
Priority was given to investments in low-carbon technologies, set to contribute to over 2 GW of additional generation capacity by harnessing the large, hydro, solar, geothermal and wind resources of the continent. Yet this is only the beginning, as much of the work to date has been centered on setting up the right frameworks to mobilize different partners and alternative forms of capital to tackle the various challenges in the sector at country, sub-regional and regional levels.
Indeed, mobilizing partnerships and rolling out countrywide energy transformation are continuous works in progress. In 2019, as testament to the Bank’s efforts in enhancing dialogue and consensus, the G5 Heads of State endorsed the Bank’s Desert to Power initiative, intended to build the world’s largest solar zone across the Sahel by adding up to 10 GW of solar generation capacity through public and private interventions.
The Yeleen Solar Program in Burkina Faso – the first of dozens of similar projects expected to flourish across the Sahel region – will provide energy to 150,000 households in rural areas through solar mini-grids and solar home systems, and an additional 52 MW of grid-connected solar generation, enough to power 30,000 new households.
Achieving the objectives of the New Deal on Energy for Africa will require a significant increase in private sector investments. The Bank catalyzes more private investments into independent power producers and off-grid projects through partnerships with project developers, commercial banks, private equity funds, institutional investors and other development finance institutions. Over the past five years, the Bank’s interventions reached $1.5 billion in private sector operations, corresponding to 1.7 GW additional generation capacity through independent power producers.
In addition to mobilizing concessional resources through bilateral and multilateral sources – notably from the European Union, Green Climate Fund and Climate Investment Funds – the Bank hosts the Sustainable Energy Fund for Africa (SEFA), one of the largest multi-donor technical assistance and concessional capital funds in the continent, designed to catalyze private sector participation in renewable energy.
How Josh Kalisa’s One Africa Business Solution Ltd Is Addressing Energy Gaps In East, Central Africa Using Solar Products (Article)In 2019, the Bank converted SEFA into a special trust fund to widen its interventions into green mini-grids to accelerate energy access to underserved populations; green baseload to support clean generation capacity; and energy efficiency to optimize energy systems and reduce energy intensity. SEFA is expected to contribute to the electrification of more than 7 million households by 2030. The Bank is also actively supporting the mobilization of commercial capital through blended finance solutions. The Facility for Energy Inclusion, which was operationalized in 2019, is a $500 million investment platform organized around two funds – off-grid and on-grid – to provide flexible debt products, including in local currency, to emerging business models in the small-scale renewable energy space. The Facility for Energy Inclusion will contribute to more than 3 million new connections by 2030. To enhance institutional performance and improve the enabling conditions to attract much needed investments, the Bank has also implemented initiatives such as the Electricity Regulatory Index to monitor and benchmark regulatory performance against best practices, the Sustainable Utilities Transformation Agenda, to build sustainable utilities and energy institutions, and the Africa Energy Portal to provide accurate, up-to-date data on Africa’s energy sector. In 2019, the African Development Bank reported that an additional 9 million African households had gained access to electricity between 2015 and 2019, with countries like Rwanda on track to achieve universal access by 2025. Despite this encouraging progress, close to 600 million Africans still lack electricity access and achieving universal access goals under SDG7 still requires greater and swifter efforts to meet the demands of Africa’s growing population. Addressing electricity access remains a costly enterprise, with the International Energy Agency placing the price tag at around $120 billion annually through 2040, four times higher than current levels. While our direct financial contribution is modest by comparison, we are confident that its judicious application to catalytic power projects, innovative financial structures, sector reform processes and acceleration of decentralized solutions will get us far in our mission. Dr. Kevin Kariuki is the Vice President, Power, Energy, Climate Change & Green Growth, at African Development Bank.
Eni To Pay $185 Million To Transocean After Settling Drillship Dispute
Offshore drilling contractor Transocean and Italian oil company giant, Eni have reached an agreement in a dispute related to a contract for the Deepwater Pathfinder drillship.
Under the agreement, Eni will pay Transocean $185 million in four equal instalments.
Transocean announced last Wednesday that Transocean Offshore, a wholly owned indirect subsidiary of the company, entered into a settlement agreement and mutual release with Eni US, providing for the mutual settlement of disputes related to drilling services provided by Transocean Offshore to Eni US.
The services were provided under a drilling services contract that started in 2008 using the 1998-built Deepwater Pathfinder drillship.
The contract start date was in 2010 and estimated revenues for the five-year contract amounted to $1.2 billion.
However, several years into the contract, Eni repudiated the contract for the Deepwater Pathfinder drillship.
Transocean, in turn, contested the termination and took legal action to recover its lost profits.
In January 2018, Transocean secured a multi-million-dollar litigation victory in the case related to the Deepwater Pathfinder contract with Eni.
Eni was ordered to pay Transocean over $185.7 million in damages and pre-judgment interest.
However, Eni in July 2018 Eni urged the U.S. Court of Appeals for the Fifth Circuit to overturn a decision against the company, saying that the trial court misinterpreted the contract when it ruled Eni was in breach for terminating its agreement with Transocean.
Under the settlement agreement announced by Transocean earlier this week, each party agreed to dismiss with prejudice its respective claims and the related lawsuits filed against the other party in connection with the disputes.
Furthermore, each party agreed to pay its own fees and legal costs associated with the disputes.
In addition, Eni US and its ultimate parent company, Eni S.p.A., reactivated Transocean Offshore and its affiliates as a fully qualified worldwide vendor with eligibility for future tenders worldwide by affiliates of Eni S.p.A.
Eni US also agreed to pay to Transocean Offshore $185 million in equal instalments of $46.25 million on 1 July 2020, 1 June 2021, 1 June 2022, and 15 January 2023.
In addition, in connection with the settlement agreement, each of Eni Petroleum US LLC, an affiliate of Eni US, and Eni S.p.A., a parent company of Eni US, executed and delivered to Transocean Offshore, agreements to guarantee the full amount of the payment obligations of Eni US under the settlement agreement.
It is worth noting that Transocean announced the retirement of six floaters back in September 2017, including the Deepwater Pathfinder drillship.
In related news, one of Transocean’s rigs has recently been awarded a drilling and completion services contract on the LLOG-operated Shenandoah project in deepwater of the Gulf of Mexico.
Ghana: Abandoning Fossil Fuels For Renewable Energy Counter-Productive – Senyo Hosi
The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD) in the Republic of Ghana, Senyo Hosi, is cautioning decision-makers in Africa’s oil and gas space not to abandon fossil fuel exploitation to pursue heavy investments into renewable energy like western nations are doing.
He cautioned against prematurely devaluing viable resources that would not be in the interest of the development of the continent.
Mr. Hosi was speaking at the UNU-INRA webinar series on the theme: “Covid-19 and fossil fuels in Ghana – What is the future of hydrocarbon resources sector, post-pandemic?” on Wednesday, July 1, 2020.
Senyo Hosi stressed that while youth unemployment is one of Africa’s biggest problems, the continent can maximize industrialization, which would create jobs among others, by expanding usage of fossil fuels and other natural resources to improve socio-economic development and improve lives.
“Africa is consuming about 15GJ/h [i.e. energy consumption per person] and the whole of North America is [consuming] about 240GJ/h, it really tells you the gap we need to cover to really give our people a real future. Trying to diversify from fossil fuels may not necessarily be the answer.
“I don’t think when the key input for what you really need as energy has the price dropping; it’s time for you to run away from that input. It is rather a time to embrace the input. We need cheaper fuels, so cheaper oils will actually give us cheaper fuels. Our effort shouldn’t be on managing stranded assets, it should actually be on AVOIDING stranded assets.”
Hosi, an oil and gas expert said that Africa cannot abandon its significant fossil fuel reserves and follow western nations’ prognosis to problems associated with climate change and stranded assets.
“If you look at our reserves-to-production ratio as Africa we are in our 40s, Europe is 11, 11 years more and they’re practically done with all their fossil fuel reserves. Why do you think they would actually want to promote fossil fuels? We have about 42 years more to utilize our fossil fuel reserves. If we don’t utilize them in time and they become stranded we would have made big fools of ourselves and we would have missed a major economic transition opportunity.”
Senyo Hosi charged African leaders to pursue solutions that fit the continent with regards to the usage of natural resources and refrain from imitating European solutions that may be costly and make no socio-economic sense.
“It’s time for Africa to look within. Europe is investing heavily in renewable energy, but it’s not time for Africa to start thinking about that. Let them [western countries] carry on with the technology but Africa must optimize its resources, not focus on resource diversification.”
Other speakers at the webinar were Antonio Pedro – SRO-EA Director, Fatima Denton – UNU INRA Director), Rose Mwebaza – Climate Technology Centre & Network (CTCN), Director Daria Ivleva – Adelphi, Project Manager, Selam Kidane – African Group of Negotiators, Legal Advisor, James Murombedzi- United Nations Economic Commission for Africa (ECA) ACPC, Chief and Stephen Yeboah, African Development Bank (AfDB) – African Energy Portal, Policy and Research Analyst.
The fossil fuel webinar series was organized by the United Nations University Institute for Natural Resources in Africa.
India: Solar Tariff Hits A Record Low Of Rs 2.36 Per Unit
Solar tariffs have fallen to a new record of Rs 2.36 per unit, in an auction of 2,000 MW where six foreign companies won projects, while Renew Power was the only local firm among the winners, according to sources close to the development.
The lowest tariff until now had been Rs 2.44 per unit, reached in a Solar Corporation of India (SECI) auction in May 2017 and again in July 2018.
SECI is the nodal agency through which the Ministry of New and Renewable Energy conducts wind and solar power auctions. It declined to confirm the results of the auction.
In the latest SECI auction, Spain’s Solarpack won 300 MW at Rs 2.36 per unit, while Italy’s Enel Green Power won 300MW at Rs 2.37 per unit. Germany’s IB Vogt won 300 MW at the same tariff. Canadian developer AMP Energy and New York based Eden Renewables won 100MW and 300MW at Rs 2.37 per unit.
CDC Group (UK’s development finance institution) backed Ayana Renewable Power won 300 MW at Rs 2.38 per unit. The only local company to win was Renew Power, which got 400 MW at Rs 2.38 per unit, though Renew too is largely backed by foreign investors. Projects can be located anywhere in India.
“Solar equipment costs have been falling very sharply in the last six months because of Covid related demand depression around the world,” said Vinay Rustagi, Managing Director of renewable energy consultancy firm Bridge To India.
Developers are also anxious to win new projects because of the slowdown in power demand and the slow pace of auctions, he said.
“Vanilla solar tenders are becoming rare as there is greater push for more complex round-the-clock and peak power schemes,” Rustagi said. SECI conducted the first-of-its-kind auction for round-the-clock power in May where the levelised winning tariff emerged at Rs 3.60 per unit. ET reported in May that the renewable energy ministry is likely to stop conducting auctions for plain vanilla solar and wind tenders.
This tender received an overwhelming response with bids for more than 5,000MW. “The sector is increasingly dominated by international capital. Barring the largest Indian corporate houses, Indian developers do not have the financing appetite to compete for these projects,” Rustagi said.
One developer felt the fall in price reflected the industry’s desperation following the Covid 19 caused slowdown. “It is disappointing to see the industry acting in desperation. The same developers used to complain about risks (of aggressive bidding and consequent low tariffs) in the media and other forums,” said an industry executive, requesting anonymity. He noted that developers bagging contracts at low prices and later failing to deliver would face severe consequences. “The minister (of New and Renewable Energy) has made it very clear he would blacklist companies which renege on contracts,” he said.
“I don’t understand the reason for this aggression,” said another solar developer, requesting anonymity.
Acme Solar, the developer which had won the contract at the then-lowest tariff of Rs 2.44 per unit in July 2018, has since informed the Central Electricity Regulatory Commission that it will not be able to execute the project. The matter is under litigation.
Petrobras Hits Production Record In Búzios Field
Brazilian oil and gas company Petrobras has reached a production record on its operated Búzios field located in the Santos Basin pre-salt offshore Brazil.
Petrobras said last Monday that platforms P74, P-75, P-76, and P-77 – installed on the Búzios field – had reached new production records.
The records of 664,000 barrels of oil per day (bpd) and 822,000 barrels of oil equivalent per day (bored) were reached on the 27th of this month.
The Búzios field was discovered in 2010 and it is the largest deepwater oil field in the world.
It started production in April 2018 through the P-74 FPSO and the rest of the units were subsequently added to the field.
For Petrobras, it is a world-class asset with substantial reserves, low risk, and low lifting cost.
Ghana: Two Staff Of BOST Test Positive For Coronavirus
Two staff of the Bulk Oil Storage and Transportation Company, Ghana, have tested positive for the novel coronavirus, energynewsafrica.com can report.
According to an internal Memo sighted by energynewsafrica.com, the two workers were confirmed positive after a spouse of the company’s IT Department tested positive, compelling management to shut down the department and subjected them to COVID-19 screening.
Ghana: 70 Staff Of Schlumberger Asked To Go Home For 1 Year Without Pay“The results of the tests were received yesterday and two of the IT staff confirmed positive. However, the two are in good condition of health and are strictly observing required protocols prescribed by the Ghana Health Service for two weeks,” the Memo said. “There is absolutely no need for any staff to panic as the situation is under control and being monitored and handled professionally,” management assured. BOST is the second institution in the West Africa nation’s oil sector where workers have tested for COVID-19. The first was about 60 workers at the country’s jubilee fields testing positive for the disease. It followed two confirmed cases of Tullow Oil’s subcontractors.
IEA’s Africa Dialogue Needs To Be Inclusive For A Workable Africa’s Energy Transition
The African Energy Chamber taken note of recent initiatives taken by the International Energy Agency (IEA) to support Africa’s energy transition and salutes the leadership of the IEA in this dialogue.
According to the Chamber, such conversations notably echo the Chamber’s recent statement on African Lives Matter, questioning the OECD and IEA’s recent call to phase out fossil fuels.
While the conversation of Africa’s energy transition continues, the Chamber reiterates its support to inclusive dialogues that take into account the realities of African economies and of energy poverty.
Unfortunately, the Africa Ministerial Roundtable organized this week has sidelined key stakeholders and actors within Africa’s energy sector, preventing its ability to be truly inclusive and impactful on the ground. Africa’s energy transition will not be possible without the inclusion, and participation of, the continent’s petroleum and gas ministries and companies.
The Chamber strongly believes that key institutions like the African Petroleum Producers Organization (APPO), led by its Secretary General Dr. Farouk Ibrahim, need to be part of this dialogue, along with representatives of the petroleum ministries of oil producing countries such as Algeria, Nigeria, Angola, Equatorial, Libya, Congo and Gabon and key National Oil Companies such as Sonatrach, GEPetrol, Gabon Oil, NNPC and Sonangol.
The African private sector was not invited while we note the invitation and participation an international oil company. Given the importance of the oil & gas sector for several African economies, the Chamber questions the relevance of an energy debate that would exclude them from the conversation.
“Energy poverty is as real as climate change, and the global debate on Africa’s energy transition tends to forget that hundreds of millions of African have no access to energy and still rely on firewood for cooking. Their needs must be at the center of the energy transition debate, which should not be made at the expense of any particular source of energy,” stated Nj Ayuk, Executive Chairman at the African Energy Chamber.
“This generation of Africans are not tickled by foreign aid and handouts that resulted in poor governance and mismanagement. Jobs, sustainable power and gas that drives development, along strong market-driven economies, are what Africans want. In order to accomplish a true African energy transition, petroleum producing countries, their National Oil Companies, civil society, African entrepreneurs and independent producing companies need to have a seat at the table,” he added.
The African Energy Chamber remains concerned that global conversations on Africa’s energy transition would result in a new foreign aid narrative by which Western stakeholders and investors would blindly push a renewable energy agenda at the expense of proper private sector-led development supporting jobs and entrepreneurship. While the Chamber strongly supports diversified energy mixes and wishes to see cleaner energy developments across Africa, solar and wind projects are still relying on global value chains, which restrain their ability to support local content development. As a result, most solar and wind projects in the continent continue to have local content participation of less than 50%. Such issues need to be at the core of the energy transition debate so Africa’s cleaner future does not serve only the interests of big multinational corporations but also translates into private sector development and opportunities in Africa. It is time to put the voices of African businesses at the center of the debate.
As Africa seeks new ways to develop and grow in a post Covid-19 world, let’s remember the words of Nelson Mandela: “Overcoming poverty is not a gesture of charity. It is an act of justice. It is the protection of a fundamental human right, the right to dignity and a decent life. While poverty persists, there is no true freedom. Do not look the other way; do not hesitate. Recognise that the world is hungry for action, not words. Act with courage and vision.”