Zimbabwean solar power company Centragrid plans to increase generation capacity to 25 megawatts (MW) by October 2021.
The aim is to help the country chip away at a huge electricity deficit that has hurt mines and kept households in the dark for hours.
The southern African country currently produces about 1,000 MW of electricity, half of peak demand, resulting in rolling power cuts after a devastating drought reduced dam levels at its hydropower plant while ageing thermal stations break down regularly.
“If we fail to solve these things, we will continue to import power from neighbouring countries. When you import power, you’re also exporting jobs,” Centragrid founder Victor Utedzi told Reuters on a solar farm in Nyabira, 35km west of the capital, Harare.
Centragrid’s Nyabira solar plant was built by China’s Sinohydro and generates 2.5 MW but it plans to build nine more units of 2.5 MW each, with work due to start in the next three months.
Centragrid says it will spend $30 million, raised locally and offshore, to scale its plant to 25 MW, but Utedzi is concerned that Zimbabwe’s foreign currency shortages could dampen interest in the sector.
Zimbabwe’s foreign currency shortages after years of economic crisis have left businesses struggling to import equipment, service foreign loans and pay dividends to international investors.
India’s solar power generation plunged about a third during the solar eclipse last Sunday.
Power grid operators, however, handled the sharp drop and surge in generation during the celestial event, underscoring the country’s ability to manage its growing green energy generation and the impact on the national grid.
The drop in solar power generation was projected to be around 11,943 megawatts (MW) on June 21.
Eclipses occur every year, but annular solar eclipses are not common. India has experienced three solar eclipses in the past 10 years—on 22 July 2009, 15 January 2010, and 26 December 2019.
The eclipse this year also comes against the backdrop of the lockdown to contain the spread of coronavirus, which has led to a drastic fall in pollution and has improved solar radiation.
India has 34.6 gigawatts (GW) of solar power, and aims to have 100GW of solar capacity by 2022.
Also, it has one of the largest interconnected power grids, capable of transferring 99,000MW of electricity from any corner of the country.
The grid is also connected with Bangladesh, Nepal and Bhutan.
“Electricity grids with such a significant penetration of solar capacity will be adversely impacted by astronomical events such as solar eclipses, due to variation in solar generation (reduction followed by rise in generation) and associated large ramp rates,” a report by state-owned Power System Operation Corp Ltd (Posoco) that oversees India’s critical electricity load management functions said.
The successful management of the grid adds heft to India’s ambitious global electricity grid strategy, with the National Democratic Alliance (NDA) government calling for bids to roll out the “One Sun One World One Grid” plan.
The plan is spread across three phases. The first phase deals with the Middle East, South Asia-South East Asia interconnection for sharing green energy sources such as solar for meeting electricity needs, including peak demand.
This comes against the backdrop of the US withdrawal from the Paris climate deal and China’s attempts to co-opt countries into its ambitious One Belt One Road initiative.
Source: energyworld.com
The Association of Oil Marketing Companies (OMCs) in the Republic of Ghana has cautioned civil society groups in the energy sector that are visiting the premises of filling stations to carry out auditing or ensuring regulatory compliance to desist.
According to the Association, it is not the mandate of these groups to carry out regulatory functions, stating that, it is the sole responsibility of the National Petroleum Authority (NPA) to ensure industry compliance.
‘We have cooperated with the inspectors of the National Petroleum Authority as they regularly inspect our stations for general compliance, including fuel dispensing pumps delivery levels.
“Our members have provided 10-litre measuring cans at their stations to enable our cherished consumers who may want to confirm the fuel dispensers delivery levels to do so and where they are dissatisfied, they are expected to report the matter to the GSA or NPA to check if, indeed, they are right so the appropriate action can be taken by the GSA or NPA against the operator involved. Where a member is found to have fallen foul of the law, the AOMC has, at all times, supported these regulatory agencies to make them face the full rigors of the law,” a statement signed by Kwaku Agyemang-Duah, CEO/Industry Coordinator, said.
It would be recalled that the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, about two weeks ago, led a team to visit some filling stations in the Volta Region as part of efforts to ensure that they were complying with industry regulation.
However, the AOMC has kicked against the move.
“We would, therefore, like to reiterate that any group or entity wanting to assure itself of the pump delivery accuracy at any fuel stations should properly engage the relevant regulators to collaborate in a meaningful manner and also to ensure that the requisite Health, Environment, Safety, Security and Quality (HESSQ) protocols are appropriately complied with.
“We must caution that the retail outlets are confined spaces for safety reasons, therefore, besides quickly buying fuel or patronising any of the other related services, one should not trespass unless one has been legally mandated to perform certain functions at the stations,” the statement concluded.
Press Release- Unauthorised inspection of Fuel Stations
The Public Interest and Accountability Committee (PIAC), an independent statutory body mandated to promote transparency and accountability in the management of petroleum revenues in the Republic of Ghana has urged the country’s Parliament to ensure that the Finance Ministry render an account for the $1.5 billion unutilized Annual Budget Funding Amount (ABFA).
The Committee noted that while GHC2.7 billion was available for spending in 2019 only GHC1.2 billion was utilized, leaving a balance of GHC1.5 billion.
“For the third consecutive year, not only has a sizable proportion of the ABFA not been fully utilized, but it has also not been accounted for, thus, impeding PIAC’s appreciation of the full scope of accounting to the public on the utilization of our petroleum revenues,” Mr. Noble Wadza, Chairman of PIAC, said as carried by Ghana News Agency.
Noble Wadza (left), Chairman of PIAC launching a copy of the 2019 Report
Mr. Wadza who was launching the 2019 Report said in 2019, 45.14 percent of the actual ABFA was spent on recurrent expenditure, with 54.86 percent on capital expenditure in violation of Section 8(4)(a) of Act 893 which requires that a minimum of 70 percent be spent on public investment expenditure.
Besides, for the second consecutive year, there was no allocation from the ABFA to the Ghana Infrastructure Investment Fund (GIIF), contrary to the provisions of the Petroleum Revenue Management Act and GIIF Act 877.
Commenting on the Ghana National Petroleum Corporation (GNPC), Mr Wadza said the Corporation continued to provide guarantees for a range of state-owned enterprises (SOEs), amounting to US$645.5 million in 2019.
This is about double, compared with the previous years’ and also outweighs the Corporation’s total equity financing expenditure of US$164.79 million for the period.
In 2019, GNPC supplied US$334.6 million worth of raw gas to the Ghana National Gas Company (GNGC), but no payment was received, in respect of the supplies.
This is largely because of VRA’s inability to pay GNGC for the lean gas supplied. Added to the outstanding balance of US$333.5 million, this brings the total indebtedness in respect of lean gas supplies to US$668.1 million.
The Committee reiterated its call on Parliament to consider placing some restrictions on the proportion of GNPC’s budget on CSI and guarantees to state institutions, particularly in the light of the Corporation’s inability to respond to some of its cash calls.
It also called on the government to address the unsustainable debt of GNGC and to expedite action on the infrastructure requirement for gas evacuation and utilization, to avoid huge backlog of make-up gas volumes and the potential for resource waste.
Source: www.energynewsafrica.com
Equinor has awarded two contracts and issued a letter of intent to TechnipFMC for pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS).
The projects in scope are Breidablikk and the Gas Import System for the Snorre Expansion Project, for which contracts have been awarded, and Askeladd Vest, for which a letter of intent has been issued.
The Breidablikk contract has subsea installation as an option.
The total value of the three assignments, including the option, is about NOK 1.8 billion.
“We are pleased to award TechnipFMC new large assignments within pipelaying and subsea installation on the NCS. Giving three assignments to the same supplier enables efficiency gains and cost savings. It will also allow for a coordinated follow-up of the total delivery during the implementation phase. This creates value for all parties”, Peggy Krantz-Underland, Equinor’s chief procurement officer said.
The scope of the assignments includes fabrication and laying of pipelines, installation of subsea structures, control cables and hook-up and testing of systems. The offshore operations under the contracts are planned to be carried out during 2021-2023.
The awards contribute to sustaining important workplaces for TechnipFMC in Norway, including the Orkanger spoolbase, where the pipelines will be fabricated before they are reeled onto the installation vessel. The awards are also expected to generate additional work through further sub-contracting to other companies.
“In a challenging period for the industry we aim to continue realizing the full potential of our NCS project portfolio. This must be carried out in close cooperation with our suppliers to ensure that we create value and activity in Norway. It will help sustain jobs in the supply industry and further develop the important competence the industry has built up,” Krantz-Underland said.
The contract award for Breidablikk is subject to a final investment decision and a final regulatory approval. The letter of intent for Askeladd Vest is subject to a final investment decision.
Nigerian security operatives have arrested ten-member crew on board a vessel, MT Morris for allegedly engaging in crude oil theft in the Niger Delta Region.
The suspects were caught stealing directly from AITEO trunk line in Bille Kingdom, Degema Local Government Area of Rivers State.
According to investigations, operatives of Labrador Security Outfit Unit 3 Bille Kingdom, which is in charge of surveillance of oil pipelines from Nembe in Bayelsa to parts of Rivers State, during night surveillance patrol spotted the suspected crude oil thieves and alerted Joint Task Force Sector 3, Rivers State and the Nigeria Security and Civil Defence Corps.
The JTF troops and NSCDC operatives stormed the vessel and arrested all crew members before they could escape.
The suspects upon interrogation narrated how they were stealing directly from the AITEO trunk line.
The vessel and crew members were moved to the headquarters of JTF Sector 3 and they have made very useful confessions.
The suspects who were immediately identified are Bob Davies, Orok aya Etim, Godwin Bassey, Olaitan Oluwole, Olaniyi Godness, Felix Eboh, Ovie Disiye, and Francis Jude.
“A mighty loading vessel named MT Morris and 10 crew members were arrested for directly loading crude oil from AITEO trunk line at the said location. The vessel and suspects have been moved to Sector 3 for further investigations,” a JTF source said.
Nigeria Customs Service (NCS) at Seme Area Command on Monday seized 54,275 jerry cans of petroleum motor spirit (petrol) being smuggled out of the country to neighbouring Benin Republic.
Spokesperson for the Command Hussein Abdullahi, who disclosed this, also said various models of smuggled vehicles and frozen poultry products worth N163 million were seized.
Hussein quoted the Customs Area Controller, Ag Compt. Chedi Wada as saying that the command also destroyed smuggled exported drugs, food items and other seizures valued at N168million.
He said, “Notable seizures are Mercedes Benz C300, Mercedes Benz GLK 350, Mercedes Benz GLK 350 4matic, Toyota Highlander 2013 Model.
“Other seizures made within the same period under review are 695 bags of rice (50kg each); 54, 275 litres of Premium Motor Spirit ( PMS); 327 cartons of frozen poultry products; 36 Units of used and means of conveyance vehicles; 111 Parcels of cannabis sativa and 996 General Merchandise goods.
“213 interceptions were made, with the total DPV of 163million, five suspects were arrested during the period under review, of which some were released on administrative bails while others were handed over to NDLEA for further investigations.”
South Africa’s utility company, Eskom has warned the public to cut electricity usage urgently as it lost four large units to unplanned breakdowns and another two units – which were scheduled to return to service – remain offline.
A statement issued by the company explained that the breakdowns were at Kendal, Majuba and Lethabo, while the delays were at Duvha and Tutuka.
It added that one more unit was taken offline at Kendal due to “technical difficulties” and to address emissions.
Eskom has 31 000 MW available in total to meet demand on Tuesday night, according to the utility.
“While we expect some units to return to service soon, this situation may persist until the weekend. We urge the public to reduce consumption by switching off non-essential appliances in order to maintain the integrity of the system,” Eskom said.
The statement comes on the back of blackouts hitting Johannesburg due to increased demand and a spike in illegal connections.
Eskom has avoided load shedding during the coronavirus lockdown due to reduced usage, but, with the start of winter, it want consumers to cut electricity usage as it battles to meet demand.
Ghana’s power transmission company, GRIDCo, has appointed Ms. Florence Nuamah Agyei as the new Director for Human Resources and Services, with effect from June 15.
She takes over from Wing Commander Samuel J. A. Allotey, who is proceeding on retirement at the end of June, after nine (9) years of dedicated service to the company.
Ms Florence has over 25 years’ experience in Human Resources Management and Organisational Development; having served in leadership capacities across several continents.
She was a former Director at the Data Protection Commission, where she consulted on HR, Finance and Administration for the World Bank.
Prior to that, she worked as Head of People and Organisational Development (OD) at College of Policing, England and Wales as well as in a number of senior HR and OD roles in the United Kingdom.
She is a Fellow of the Chartered Institute of Personnel and Development (FCIPD).
She also holds MSc. Degree in HRM from Anglia Ruskin Business School (UK), LL.M from the University of Surrey (UK), a Postgraduate Diploma from the Institute of Leadership and Management (ILM) and is also a member of the British Psychological Society (BPS).
She also has a University Diploma in Data Processing from the Kwame Nkrumah University of Science and Technology (KNUST).
Key among her responsibilities will be to develop a strategy that transforms and elevates the Ghana Grid Company into an excellent organisation and a great place to work.
She is also expected to implement a framework that benefits employees whilst enhancing the organisation’s performance and capability.
Commenting on the appointment, Chief Executive Officer of GRIDCo Ing. Jonathan Amoako-Baah said: “We are happy to welcome Florence as a new member of the Management Team at GRIDCo. We look forward to tapping into her expertise in People Management, Organisational development and Growth, to transform the company. She is joining at an exciting time for the energy sector across the sub-region and her experience and knowledge will prove very crucial in repositioning the company to access the new opportunities in the industry.”
On her part, Ms Florence Nuamah Agyei said: “I am thrilled to join such a progressive organisation with leadership capabilities across West Africa. I look forward to leading the company into the next phase of its People development. Together with the amazing staff at the company, we can only aspire to greater heights.”
Source:www.energynewsafrica.com
As African oil and gas countries struggle with Covid-19’s devastating impact on demand, two international groups seem to be celebrating it.
Earlier this month, the Organisation for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA) described the low oil prices caused by the pandemic as a “golden opportunity” for governments to phase-out fossil fuel support and usher in an era of renewable energy sources.
“Subsidising fossil fuels is an inefficient use of public money and serves to worsen greenhouse emissions and air pollution,” OECD Secretary-General Angel Gurría said in a joint OECD-IEA statement. “While our foremost concern today must be to support economies and societies through the Covid-19 crisis, we should seize this opportunity to reform subsidies and use public funds in a way that best benefits people and the planet.”
I would argue that the OECD and IEA do not necessarily know what is best for the people who live on this planet. Pressuring governments to stop supporting fossil fuels certainly would not be good for the African oil and gas companies or entrepreneurs striving to build a better future. And it could be downright harmful to communities looking at gas-to-power initiatives to bring them reliable electricity.
Too often, the discussion about climate change — and the call to leave fossil fuels in the ground— is largely a western narrative. It does not factor in the needs of low-income Africans who could reap the many benefits of a strategic approach to oil and gas operations in Africa: reduced energy poverty, job creation, and entrepreneurship opportunities, to name a few.
Ironically, a policy that would jeopardize Africans’ ability to realize those benefits is being recommended at the same time protesters across America are calling for equity in some of the same areas. Although police violence against people of colour is at the centre of the protests — a response to the horrific death of a black man, George Floyd, after a white police officer knelt on his neck for nearly nine minutes — the protests also point to social and economic disparities between the races in America.
While I do not want to exploit the death of George Floyd, I do see parallels between the racial disparities in America and the struggles of Africans whose lives could be improved through oil and gas. I always see a common pattern of ignoring black and African voices.
Too often in America, the value of black lives were not given proper consideration until George Floyd’s death forced the topic to the forefront and rightly so. And on the global stage, OECD and IEA are dismissing the voices of many Africans who want and need the continent’s oil and gas industry to thrive. I would advise these organizations not to ignore the needs of poor people in African countries.
As it stands, African energy entrepreneurs, the African energy sector, and Africans who care about energy poverty are basically saying, “I can’t breathe.” It is time to get the knees off their necks.
The Dangers of Energy Poverty
Consider the impact of energy poverty. Approximately 840 million Africans, mostly in sub-Saharan countries, have no access to electricity. Hundreds of millions have unreliable or limited power at best. Even during “normal times,” energy poverty is dangerous. The household air pollution created by burning biomass, including wood and animal waste, to cook and heat homes has been blamed for as many as 4 million deaths per year. How will this play out during the pandemic? For women forced to leave their homes to obtain and prepare food, sheltering in place is nearly impossible. What about those who need to be hospitalized? Only 28 percent of sub-Saharan Africa’s health care facilities have reliable power. Physicians and nurses cannot even count on the lights being on, let alone the ability to treat patients with equipment that requires electricity — or store blood, medications, or vaccines. All of this puts African lives at risk.
That is what makes gas-to-power initiatives so critically important: It only makes sense for African countries to use their vast natural gas reserves for power generation. Moreover, we are already making progress on that front. Today, about 13 African countries use natural gas produced domestically or brought in from other African countries, and there is every reason to believe this trend will grow.
In Cameroon, for example, Victoria Oil and Gas PLC already provides domestic gas for power generation, and its subsidiary, Gaz du Cameroun (GDC), has agreed to provide the government gas for a new power station with the potential to accommodate growing demand.
And in Mozambique, the Temane power plant, also known as Mozambique Gas-to-Power, is being developed now, and plans are underway to develop a second plant. Both will rely on Mozambique’s Rovuma basis for feedstock.
I have heard calls, including some from the OECD, for the development of sustainable energy solutions to meet Africa’s power needs. Great — let us go for it. I’m all for renewable energy solutions, but Africans should not be forced to make either-or-decisions in this area. Energy poverty is a serious concern, and it is wrong to make it more difficult for African countries to use a readily available natural resource to address it.
Investment — Not Aid
One of the benefits of oil and gas operations in Africa is they provide opportunities for both indigenous companies and for foreign ones. And as foreign companies comply with local content laws, they invest in the communities where they work. Africa needs those investments, particularly training and education programs that empower people to make better lives for themselves.
I want to be clear: Africa does not need social programs, even educational programs, that come in the form of aid packages. What’s more, offering Africa aid packages to compensate for a halt or slow-down of oil and gas operations will not do Africans any good. I tried to make that point recently during a friendly debate with Prof. Patrick Bond, a very bright man and a distinguished professor at the University of the Western Cape School of Government. He argued that Africa should keep all of its petroleum resources in the ground to minimize greenhouse gas emissions and prevent further climate change. Developed nations, the professor continued, should compensate Africa for that sacrifice, and Africa could use that money to develop other opportunities. No. This is not the time for Africa to be calling for more aid. Africa has been receiving aid for nearly six decades, and what good has it done? We still don’t have enough jobs.
Investment creates opportunities, meaning Africans aren’t receiving, they’re doing. They’re learning, working, building, growing, deciding. We, as Africans, must be responsible. Our young people should be empowered to build an Africa we all can be proud of. Relying on the same old policies of the past, relying on aid, simply isn’t going to get us there. The truth is, no matter how you feel about the American Shale Revolution, Africans can learn from it.
One of the reasons it succeeded is because you had small businesses willing to take a chance on new technology.
They worked hard, and in the end, they boosted production. America became the largest crude oil producer in the world. Those companies made something extraordinary happen, and so can African businesses. We need more entrepreneurs willing to seize opportunities and, in some cases, make mistakes. That’s how we grow and learn. We need government leaders to do their part by creating a welcoming environment for foreign investors and establishing local content policies that result in opportunities for business partnerships, quality jobs, and learning opportunities for Africans.
Africa is capable of building a better future, of ending energy poverty, strengthening our economy, and improving the lives of everyday Africans. If we are smart about it, and we work together with purpose, our oil and gas resources can help us get there. Moreover, that is why this is a horrible time for OECD, IEA, or any other outside organizations, to interfere with our natural resources.
Don’t Stand in Our Way
I understand and respect the OECD and IEA’s commitment to preventing climate change. However, when you describe the chance to harm a major African economic sector as a great opportunity, there’s something wrong.
When you put independent African oil and gas companies at risk, you’re saying your objectives are more important than African livelihoods and aspirations.
American institutions are coming under fire for failing to recognize that Black Lives Matter and to work alongside African-American communities to create positive change. I encourage the OECD and IEA to take a different approach.
This is an opportunity for all of us to join forces, to take a team approach to growing Africa’s energy sector, and to do it without dismissing Africa’s right to capitalize on its own natural resources.
NJ Ayuk is Executive Chairman of the African Energy Chamber, CEO of pan-African corporate law conglomerate Centurion Law Group, and the author of several books about the oil and gas industry in Africa, including Billions at Play: The Future of African Energy and Doing Deals.
A former Managing Director of Ghana’s strategic oil company, Bulk Oil Storage and Transportation (BOST) Company Limited, George Mensah Okley, is reported dead.
It is not clear what caused his death, but sources say the late George Mensah Okley has not been well for a while.
President Nana Akufo-Addo appointed the late George Mensah Okley to replace Alfred Obeng Boateng as the Managing Director of BOST.
Prior to his appointment George Okley was the director in charge of Upstream at Ghana’s Ministry of Energy.
He, however, he resigned in August 2019, after reports surfaced on the issue of contracts at BOST and some serious other challenges he was having with some key staff at BOST, making his work difficult.
Mr. Mensah Okley had over a decade of experience in the country’s upstream sector.
He played a key role in Ghana’s Petroleum Policy Development and Implementation.
This is how former Minister of Energy Boakye Agyarko reacted upon hearing the passing on of George Mensah Okley
He held a Bachelor of Science Degree in Chemical Engineering from the Kwame Nkrumah University of Science and Technology (KNUST).
He also had a Master’s Degree in Reservoir Evaluation and Management from the Heriot-Watt University, Edinburg, Scotland, with focus on oil field operation, reservoir engineering, reservoir concepts, reservoir sedimentology, formation evaluation, well testing and production, reservoir simulation, rock mechanics with geophysics and modeling.
In 2014, Mr. Mensah Okley undertook a professional course in petroleum engineering at the Imperial College, London. He previously served as a Research Scientific Officer at the Ghana Atomic Energy Commission from 2005 to 2007 and served as petroleum engineer at the Ministry of Energy from 2008 to 2012.
From 2013 to 2017, he was the acting Head of Upstream of the Petroleum Division of the Ministry of Energy, and has equally been involved in monitoring of the implementation of the Offshore Cape Three Points (OCTP). He was a member of the team that developed regulations for the sector.
Source:www.energynewsafrica.com
An audit report by Ghana’s Auditor General has revealed that about sixteen oil companies operating in the West African nation’s upstream sector have failed to honour their payment obligations, thus, denying the state revenue.
The 2018 Petroleum Funds Report mentioned Tullow, Petrogulf Limited, Hess Ghana Exploration Limited, Kosmos Energy, Oil Field Energy Ltd, Britain-U Ghana Ltd, Springfield Exploration and Production Limited and Swiss African Oil Company Ltd.
The rest are AMNI Petroleum Dev. Co. Limited, GNPC Operating Services (GOSCO), Medea Development International Limited, PETRICA AS, Blue Star Exploration Ghana Limited and Erin Energy.
According to the report, these entities have failed to honour their payments obligations into the Petroleum Holding Fund as stipulated by Section 3(2) of the Petroleum Revenue Management Act 2011 (Act 815).
Per the law, surface rentals are to be paid by the 15th day of each month.
However, the Auditor General observed that, regardless of stringent efforts to have especially Oil Field Energy Ltd, Britain-U Ghana Ltd, and Swiss African Oil Company Ltd to pay their obligations to the state, they have failed.
The report noted that the Ghana Revenue Authority (GRA) was collaborating with the Petroluem Commission to ensure they comply or face the necessary sanctions.
With reference to interest/penalty on late payment, it said section 93(5f) of the Petroluem Exploration and Production) Act 2016(919) compels the culprit to pay additional five percent of annual fee for each day of the first 30 days after the annual fee becomes due, in addition to the outstanding annual fee and after the 30-day period.
Regarding the unpaid surface rental fees, the report stated that the Ghana Revenue Authority has been informed of the situation and the Bank of Ghana was waiting its response.
The report said as of December 31, 2018, a total of US$ 310.34 million was outstanding to be paid into the Petroleum Holding Fund.
It stated that out of the total amount owed, US$308.77 million, an amount due for the Ghana Gas Company Limited for gas sold to them by the Ghana National Petroluem Corporation (GNPC) and US$1.57 million surface rental fees were unpaid by the various entities.
“The estimated amount of penalties based on section 3(4) of Act 815 is US$10.79 billion. There is loss of income which would have been earned if the funds had been paid on time and invested,” the report said.
With respect to Gosco/Heritage Exploration and Production Ghana Ltd, the report said the company has not paid their surface rental fees for East Keta Ultra Deepwater Block
for 2017-2018 assessments.
It has informed the GRA of a force majeure event that happened in December 2016 when the Togolese Navy interdicted and ordered the subcontractor engaged by the operator on behalf of the contractor parties to cease operations within the contract area.
Meanwhile, a source at Kosmos Energy has told this portal that Tullow is the entity responsible for the payment of the surface rentals.
“We handed over the operator-ship of the West Cape Three Points to Tullow couple of years ago. Kosmos does not operate anything in Ghana,” the source said.
The Auditor-General (A-G) has submitted a report on the Management of Petroleum Funds for 1st January 2018 to 31 December 2018 to Parliament.
A statement signed by Mrs Ama Awoe-Bosumafi Assistant Director of Public Relations Unit on behalf of the Director General, said the audit was carried out in accordance with Article 187(2) of the Constitution of Ghana, Section 16 of the Audit Service Act 2()00, (Act 584), and Section 45 of the Petroleum Revenue Management Act 2011, (Act 815).
“The A-G used methodologies that are in line with internationally accepted standards to conduct the audit,” it said.
“The A-G hereby notifies the public that in line with Section 23 of Act 584, a copy of the report is available at for free download”.
Click on the file below for the full reportPetroleum-Fund-2018
OPEC’s Joint Ministerial Monitoring Committee (JMMC) has made assurances of achieving 100 per cent conformity in oil production cuts from all participating countries during the next three months.
The 19th JMMC meeting was held via videoconference. Saudi Arabia’s Minister of Energy Abdul Aziz Bin Salman and the Minister of Energy of the Russian Federation Alexander Novak chaired the videoconference.
The Committee reviewed the monthly report prepared by OPEC’s Joint Technical Committee (JTC) and recent developments in the global oil market, as well as immediate prospects for the remainder of 2020 and into 2021.
The JMMC reiterated the critical role that the ‘Declaration of Cooperation’ (DoC) continues to play in supporting oil market stability and economic recovery, in the face of the COVID- 19 pandemic shock and the subsequent severe global economic downturn.
It is worth reminding that all participating countries agreed to adjust downwards overall crude oil production in April this year.
During the 179th meeting of OPEC and the 11th OPEC and non-OPEC Ministerial meeting this month these cuts were extended for another month.
Apart from the extension, member countries agreed to a concept of compensation by those countries who were unable to reach full conformity.
The countries, which were unable to achieve these cuts in May and June, would adjust its numbers during July, August, and September, in addition to their already agreed production adjustment for such months.
OPEC stated that the overall conformity for May 2020 was 87 per cent.
It also observed individual country conformity levels and reiterated the critical importance that all countries achieve their 100 per cent level, and make up for any monthly shortfalls in July, August, and September.
The OPEC committee welcomed the expressed commitments from those countries below the 100 per cent May conformity level and specific compensation plans highlighting how this will be accommodated, and delivered, between July and September.
Iraq and Kazakhstan already submitted their compensation schedules. The Committee agreed to give other underperforming participants, which have not yet submitted final plans, until 22 June 2020 to submit their schedules for compensation to the OPEC Secretariat.
The Committee stressed that the attainment of 100 per cent conformity from all participating countries is “vital for the ongoing and timely rebalancing efforts and helping deliver a sustainable oil market stability”.
It is worth noting that Saudi Arabia, the UAE, Kuwait, and Oman made voluntary contributions totalling 1.2 million barrels per day in June 2020.
OPEC said that the next JTC and the JMMC meetings were scheduled for 14 July and 15 July, respectively.
