COVID-19: African Energy Chamber Issues Urgent Advisory Guidelines For The Management And Safety Of Oil Workers
Amid the ongoing effects of lockdowns in oil and gas-producing countries such as Nigeria, Angola, Algeria, Egypt, Libya, Congo, Gabon, Ghana, Equatorial Guinea, South Sudan and Cameroon, the African Energy Chamber hereby issues pragmatic commonsense advisory guidelines for governments, oil companies and personnel.
This is aimed at mobilizing, demobilizing and putting back the continent energy sector to work safely across the continent.
In light of the prolonged Covid-19 pandemic, the oil & gas industry has been heavily strained, increasing the need to pay critical attention to workers’ safety and putting in place procedures to ensure their transitioning in and out of the workplace.
Currently, travel restrictions have forced oil operators to maintain their personnel for extended periods of time on remote sites, increasing the risks of Lost Time Injury.
“We must always prioritize the health, safety and well-being of brave oil workers who continue to defy insurmountable odds to keep energy production ongoing across the continent,” NJ Ayuk, Executive Chairman at the African Energy Chamber has stated.
“All upstream oil & gas operators are experiencing similar challenges due to reduced workforces and extended periods of lockdown and travel restrictions. Our guidelines put the safety of workers, host communities and oil operators at the core of the industry’s operations and sector recovery.”
“These non-exhaustive guidelines will assist operators and governments in ensuring the movement and safety of offshore and onshore oil workers so oil & gas operations can continue while preventing any additional spread of Covid-19,” concluded Ayuk.
In order to ensure that oil & gas health and safety standards and practices adapt to a new normal, the African Energy Chamber has worked with its partners to issue this new set of advisory guidelines. These guidelines notably take into account local regulations in host countries, and are heedful of the need to protect local communities from exposition to any potential Covid-19 transmission.
Such advisory guidelines notably include a series of agreements and protocols governing health monitoring and travel authorizations given to oil workers before, during and after their mobilization on site.
They take into account the best international healthcare practices in order to ensure both a safe continuation and resumption of onshore and offshore activities, while preserving the health of oil workers, host countries and host communities.
The guidelines can be downloaded on (www.EnergyChamber.org)
Source: www.energynewsafrica.com
UAE To Cut Oil Production Further By 100,000 BPD In June
The United Arab Emirates plans to cut its oil production further in June, UAE Minister of Energy and Industry Suhailbin Mohammed Faraj Faris Al Mazrouei has revealed.
The production cuts, according to Al Mazrouei, will increase by another 100,000 bpd next month, after already reducing its oi production “in line with the OPEC+ agreement” in May.
This comes after the OPEC member increased its production to more than 4 million bpd in April, when Saudi Arabia was also busy adding crude oil into the global supply glut at a time when the world was shutting down in response to the coronavirus, crippling the demand for crude.
This comes at a time Saudi Arabia, too, has said it would cut beyond its promised cuts next month.
Kosmos Energy Sinks Deeper, Loses $183million In First Quarter Of 2020Saudi Arabia has pledged as part of the OPEC agreement to cut its production to 8.5 million bpd, but said this week that it would cut to 7.492 million bpd in June, after the Saudi energy ministry ordered Aramco to cut bigger. Oil prices had rallied earlier on Monday on this news that even more oil production would be taken out of the mix next month. But by 2:30pm ET, WTI had slipped 3.31% on the day, with the Brent benchmark slipping nearly 5% back below $30 per barrel. Kuwait also announced that it would cut its oil production even more than the OPEC+ agreement called for, by an additional 80,000 bpd in June. But the move to cut additional barrels by Kuwait, Saudi Arabia, and the UAE was seen not as a positive move, but as an out-of-options move as Middle East producers find themselves without buyers. Today’s announcement of additional cuts could, therefore, spark fear instead of confidence as the market views it as a reflection of the true state of the market. Source:www.energynewsafrica.com
Ghana: Accra: Areas Experiencing Power Outage Will Be Restored By 5PM-GRIDCo
Ghana’s power transmission company, GRIDCo, has assured residents of Accra, who are currently experiencing power outage, that power will be restored at about 5pm today (17:00GMT).
According to the company, the outage has been caused by snapping of one of its major transmission lines in the Accra East area at about 6:53am Monday, May 11, 2020.
A statement issued by GRIDCo said: “The situation requires emergency attention and engineers are currently working around the clock to resolve the problem as soon as possible.”
“The maintenance team has assured that power will be restored to the affected areas before 5pm today” the statement said.
GRIDCo apologised for any inconvenience caused and adding that it remains committed to its mandate of delivering reliable power supply.
Press Statement – Power Outage In Parts of Accra East – May11, 2020.pdf
Source:www.energynewsafrica.com
Kosmos Energy Sinks Deeper, Loses $183million In First Quarter Of 2020
U.S. oil and gas company, Kosmos Energy has sank deeper into the red in the first quarter of 2020 due to impairments and low oil prices.
According to its report on Monday, Kosmos generated a net loss of $183 million in the first quarter of 2020 compared to the loss of $52.9 million in the first quarter of last year.
Kosmos has booked asset impairments in the first quarter totalling $151 million. These impairments are largely related to the Kodiak and Tornado fields in the Gulf of Mexico and are due to the change in the oil prices since Kosmos acquired the assets in late 2018.
The impairments represent around 10% of the total consideration paid for Deep Gulf Energy at the time.
Kosmos booked revenues of $178 million in the first quarter of 2020 compared to revenues of $296.8 million in the same period of 2019.
The company’s capital expenditure for the period was $84 million.
In addition to the timing mismatch between production and the lifting of cargos, the first quarter was impacted by non-cash asset impairments and restructuring charges of $169 million.
These charges were partly reduced by a mark-to-market gain of $136 million, offset by a $12 million cash settlement related to the company’s oil derivative contracts. The company also incurred non-cash deferred tax expense related to a valuation allowance against deferred tax assets and the increased market value of the hedges, totalling $72 million.
Kosmos exited the first quarter of 2020 with approximately $677 million of liquidity and $1.97 billion of net debt.
Shut-ins in Gulf of Mexico to affect 2Q
Kosmos’ net production in 1Q 2020 was 66,300 barrels of oil equivalent per day (boepd), at the upper end of guidance.
This compared to the production of 79,799 boepd in the same period of 2019.
Sales in 1Q 2020 were 43,700 boepd, resulting in a material net underlift position of approximately 1.7 million barrels of oil equivalent (boe).
Production in the U.S. Gulf of Mexico was unaffected by COVID-19 and averaged approximately 28,300 boepd net (80% oil) during the first quarter, at the top end of guidance.
As a result of current market conditions, the operator of the Delta House host platform in the U.S. Gulf of Mexico, Llog Exploration, has chosen to shut-in the facility during the month of May 2020 and accelerate planned maintenance.
The shut-in of Delta House will impact the second-quarter production by approximately 5,500 boepd (net) from fields processed through this facility.
In addition, Kosmos will temporarily shut-in approximately 1,500 boepd (net) at other facilities during 2Q, resulting in approximately 7,000 boepd of net Kosmos production shut-in during the second quarter.
Kosmos currently expects the shut-ins to last through the end of May, however, timing will depend on future market conditions.
Kosmos’ full-year net production guidance in the U.S. Gulf of Mexico is expected at the lower end of the of 24,000-28,000 boepd range assuming the shut-ins last through May.
In Ghana, full-year net production guidance is 27,000-29,000 bopd and it is unchanged.
In Equatorial Guinea, Kosmos’ full-year net production guidance is 11,000-13,000 bopd and cargo guidance of 4.5 cargos is unchanged.
Cost-reductions
In response to current market volatility, Kosmos has identified capital reductions in the base business of around 40% from discretionary expenditure largely from exploration activities in the Gulf of Mexico, its basin-opening exploration portfolio, and other non-critical work that does not impact safety and asset integrity.
The company is now targeting base business capital expenditure of $200-$225 million in 2020 while keeping 2020 production within the range of previous guidance and with the minimal expected impact on 2021 production.
Kosmos has taken steps with the operators of producing assets to target a reduction in operating expenses of approximately $2-3 per barrel in 2020.
In addition, Kosmos is reducing cash general and administrative (G&A) costs in 2020 by approximately 40%, through a reduction in headcount, no planned employee cash bonuses and other identified reductions.
These capital, operating, and G&A cost reductions lower the company’s costs for 2020 by approximately $250 million, or 30% in total.
In March, the board of directors of the company made the decision to suspend the dividend, which will result in cash savings in 2020 of approximately $57 million.
Ghana: Natural Resource Governance Institute Scores Gov’t 70% For Handling Of Maiden Licensing Bid Round
The Government of Ghana’s handling of the maiden licensing bid round for six oil blocks it offered to investors offshore has been described as satisfactory, a report by the Natural Resource Governance Institute (NRGI) has said.
The report assessed the government’s handling of the licensing bid round in four thematic areas namely: Procedural requirements on competitive bidding, Direct negotiations, Compliance with calendar of events under bidding round and Public engagements.
The procedural requirements on competitive bidding scored 77 percent compliance with calendar of events under bidding round was rated 80 percent.
On the other hand, direct negotiation and public engagements scored 55 percent and 50 percent respectively.
The entire process cumulatively scored 70 percent, which is interpreted as satisfactory on the adopted grading scheme.
President Nana Addo Dankwa Akufo-Addo, in October 2018, launched the country’s first oil and gas exploration licensing round.
The Energy Ministry subsequently earmarked six oil blocks for exploration.
Three of the blocks-2, 3 and 4-were to go through competitive bidding process while two blocks-5 and 6-were supposed to be for direct negotiations.
One of the blocks was reserved for Ghana National Petroleum Corporation (GNPC).
The report makes the following recommendations:
Government must start issuing reconnaissance licences to gather quality data to aid future bidding rounds. The cost for such an activity will be recovered from data fees during competitive tendering. Liberia used this approach to acquire data which enabled them to carry out competitive tendering; Government must publish disaggregated information on bidders and their respective blocks they are prequalified for; Disclosures on beneficial ownership must be made publicly available during the prequalification stage. This allows for citizens to monitor the bidding process and to identify politically exposed persons in the contract process.
Again, government must ensure that direct negotiations are done only where peculiarities that point to a specific company to optimise the resources are established; Government must make deliberate efforts to engage the public beyond the requirement of the law. It is recommended that such engagements must have feedback systems to encourage citizens to share information that might be relevant for the licensing round and by extension, the national interest.
Source: www.energynewsafrica.com
The entire process cumulatively scored 70 percent, which is interpreted as satisfactory on the adopted grading scheme.
President Nana Addo Dankwa Akufo-Addo, in October 2018, launched the country’s first oil and gas exploration licensing round.
The Energy Ministry subsequently earmarked six oil blocks for exploration.
Three of the blocks-2, 3 and 4-were to go through competitive bidding process while two blocks-5 and 6-were supposed to be for direct negotiations.
One of the blocks was reserved for Ghana National Petroleum Corporation (GNPC).
The report makes the following recommendations:
Government must start issuing reconnaissance licences to gather quality data to aid future bidding rounds. The cost for such an activity will be recovered from data fees during competitive tendering. Liberia used this approach to acquire data which enabled them to carry out competitive tendering; Government must publish disaggregated information on bidders and their respective blocks they are prequalified for; Disclosures on beneficial ownership must be made publicly available during the prequalification stage. This allows for citizens to monitor the bidding process and to identify politically exposed persons in the contract process.
Again, government must ensure that direct negotiations are done only where peculiarities that point to a specific company to optimise the resources are established; Government must make deliberate efforts to engage the public beyond the requirement of the law. It is recommended that such engagements must have feedback systems to encourage citizens to share information that might be relevant for the licensing round and by extension, the national interest.
Source: www.energynewsafrica.com Nigeria: EKEDC Deploys Mobile Power Transformer To Lekki To Boost Supply
Nigeria’s power distribution company, Eko Electricity Distribution Company (EKEDC) has deployed one of its newly acquired mobile power transformers to Lekki as part of efforts to improve power supply in the area.
The deployment of the 15MVA mobile power transformer would ensure the prompt restoration of power, particularly in the event of a prolonged outage to customers within its network.
A statement issued by the General Manager of EKEDC Corporate Communications, Godwin Idemudia, said: “Recall that in December 2019, EKEDC announced that it has taken delivery of its newly acquired 15MVA, 33/11KV Mobile Power Transformers as part of efforts to improve power supply within its distribution network.”
“The mobile power transformer will serve as a relief response that will be available to immediately replace faulty and overloaded power transformers.
“Our customers can be assured that power supply within our distribution network will no longer be disrupted as a result of power transformer failure,” Idemudia said.
According to him, the 15MVA mobile power transformer would relieve the existing power transformers currently in use within its Lekki coverage network and reduce the load on those transformers to improve supply in the area.
Idemudia added that EKEDC would continue to undertake critical investment to strengthen its distribution infrastructure and expand its capacity to consistently meet its growing supply demand.
He appealed to customers to support the company’s effort by visiting any of the designated collection offices or make use of its online payment channels for the prompt settlement of their bills.
Source: www.energynewsafrica.com
Kenya, Uganda Hit By Nationwide Power Blackout
Kenya and Uganda have been hit by a power blackout after what distributor Kenya Power said was a system disturbance in the transmission grid.
Teams from Kenya Power and Uganda’s power Distributor Umeme announced on Twitter that efforts to restore power were already underway.
The neighbouring countries’ grids are interconnected.
Kenya Power said power went off at 5:49 a.m. (0249 GMT).
“Our engineers are working to identify and address the hitch, towards restoring normal electricity supply,” it said in a statement.
Already the firm has restored power to certain parts of the country.
Kenya Power indicated that it had identified a technical fault at a section of the main high voltage transmission power line that evacuates power from the Olkaria geothermal power plants to Nairobi.
“An electricity conductor came off the support insulators and clashed on the towers,” the firm said in a statement.
Uganda also suffered a nationwide blackout, Uganda Electricity Transmission Co. Ltd said on its Twitter account.
“We have lost transmission across the nation … please bear with us as we investigate the cause and work on restoration,” it said.
In January 2018, both countries suffered major blackouts due to what they said were system disturbances.
Angola: Investment Report For Oil and Gas Projects Launched
Africa Oil & Power (AOP) has launched the Africa Energy Series Special Report: Angola 2020 as a resource for investors entering or expanding their presence in the country’s energy sector.
The report provides a concise look at Angola’s investment opportunities still on track for development in the face of project delays caused by COVID-19.
“While COVID-19 continues to rattle our industry and stall energy developments across the continent, Angola boldly moves forward with a number of its large-scale, capital intensive projects, as explained in the Africa Energy Series Special Report: Angola 2020,” said AOP Acting CEO, James Chester.
“While the current investment climate remains challenging for the oil and gas industry, sufficient and sustained FDI is required across the energy supply chain to not only survive the crisis in 2020, but also overcome it in 2021.”
The report primarily focuses on upstream developments in Angola, including the 2020 oil and gas licensing round which, as of May 6, is still scheduled to take place; recent block extensions granted to major operators, including ExxonMobil, Chevron, and Total; the increase in the appraisal of estimated recoverable resources of ENI’s Agogo discovery; the installation of the Lifua-A platform to support oil and gas exploration in Block 0; and the establishment of the New Gas Consortium that represents Angola’s first upstream natural gas partnership.
“Special reports like this one serve as an important investment promotion and information dissemination tool, which we celebrate from the African Energy Chamber. AOP’s presence in Angola, with the assistance of the African Energy Chamber, helps to promote the local oil and gas and energy sector via different means,” Sergio Pugliese, President for Angola, African Energy Chamber noted.
Within Angola’s developing downstream industry, the report provides updates on the planned construction of natural gas and hydropower plants across the country; the refurbishment of the Luanda refinery to quadruple its current production; and the tender for the construction of new refineries in Cabinda, Lobito, and Soyo.
The publication follows the recent announcement of a change in date to the Angola Oil & Gas 2020 Conference & Exhibition, which will now take place in Talatona from October 14-15. Under the theme “Angola: African Investment Capital 2020,” the conference returns for its second year to promote and attract FDI to the country’s bankable projects and sign up new entrants to Angola’s oil and gas sector.
To download the Africa Energy Series Special Report: Angola 2020 report, please click here. (https://bit.ly/3ftJKTW)
Source:www.energynewsafrica.com
Nigeria: Renewable Energy Must Form A Major Part Of The Post-COVID-19 Recovery Plan (Article)
The unparalleled health crisis triggered by the COVID-19 pandemic has other far-reaching impacts. Oil prices plummeted 30% to their lowest in almost two decades. The aviation industry is on near-total shutdown, worldwide supply chains have been decimated. There has been a 30% drop in Foreign Direct Investment across Africa. Nigeria’s downward budget revision of the benchmark oil price for 2020 to US$30/barrel and oil production to 1.7mbpd is an immediate effect.
A global recession looms large. The social consequences will be huge, creating the need for well-thought-out strategies going forward.
In the immediate aftermath, the Central Bank of Nigeria established an N50 billion Targeted Credit Facility as a stimulus package to support households and micro, small and medium enterprises affected by the COVID-19 pandemic.
The apex bank introduced an additional N100 billion intervention fund in healthcare loans to pharmaceutical companies and healthcare practitioners for expanding capacity.
Medium-term plans to support a post-COVID-19 economy include The Ministry of Finance, Budget & Planning’s establishment of an N500 billion COVID-19 Crisis Intervention Fund to upgrade healthcare facilities and fund Special Public Works Programme that will generate employment.
The Federal Government is working to lessen the economic damage. Beyond the healthcare emergency, there is an opportunity for Nigeria to include sustainable energy into future economic plans. The nexus between Sustainable Development Goal #3, health and well-being and SDG#7, access to clean and reliable energy presents an outline for building a sustainable economy. Post-COVID-19, Nigeria’s commitment to the Paris Agreement, to reduce global greenhouse emissions, will not disappear. Boosting large scale investment to develop renewable energy must, therefore, be a priority in any stimulus plans.
Accelerating clean energy solutions will move Nigeria closer to achieving Vision 30:30:30 (electricity generation of 30GW by 2030 with renewable energy forming 30% of the energy mix), will add the much-needed jobs, thereby boosting the economy. Very importantly, it will contribute significantly to closing the energy access gap among 90 million Nigerians, approximately 55% of the population currently underserved or unserved. Now is not the time to lose so much of what has been gained in the last decade by adopting clean energy solutions. Clean energy lifestyles have seen a boost in Nigeria; the temporary reduction in fossil fuel prices as a result of the pandemic should not mean a loss of focus in our bid to ensure sustainable development.
The Nigeria Electrification Project, Energising Economies Initiative and Rural Electrification Fund, all initiatives of the Rural Electrification Agency (REA) in collaboration with the private sector have impacted tens of thousands of communities – electrifying business clusters such as Sabon Gari market in Kano, Sura market in Lagos and Ariaria market in Abia has allowed for business growth; under REA’s Energising Education Programme, Africa’s largest off-grid solar hybrid, a 7.1MW project powers Kano State’s Bayero University while another 8MW Solar hybrid project gives reliable electricity to Alex Ekwueme Federal University in Ebonyi State. These significant gains must be built on.
The potential of decentralised renewable energy to boost healthcare infrastructure is already apparent in the swift deployments across the country under All-On’s N180m COVID-19 Solar Relief Fund. This includes a 22.5kWp solar system installed at the Lagos Emergency Response Centre and a 9.6kW solar and 30kWh battery storage solution at Eleme Isolation Facility in Rivers State. Investing in health systems will influence the other sectors and possibly help avoid other health emergencies.
As Nigeria plans a post-COVID-19 future, a sustainable energy future must form an integral part of stimulus plans – diversification of the economy, promotion of local content and decreasing Nigeria’s energy poverty are only some of the benefits that this can bring. There is a need to be deliberate about future policies that will support the continued growth of Nigeria’s renewable energy sector.
Source: TheCable
Ghana: Gov’t Orders Eni, Springfield E&P To Combine Oil Fields
The Government of Ghana has directed Italian oil and gas firm, Eni, and Springfield E&P, a wholly owned Ghanaian firm, to begin talks to combine their adjacent oil and gas fields.
The directive follows a technical analysis which concluded that Afina-1x Cenomanian reservoir operated by Springfield E&P and the Sankofa Cenomanian reservoir, which is operated by Eni, are “one and the same.”
The government, through the Ministry of Energy, has, therefore, instructed the companies to begin within 30 days the process leading to the unitisation or joint operation of the two fields in order to ensure efficient production.
The two have 120 days to provide the Ministry a draft agreement.
“Shall both parties fail to comply with the government’s directive to agree on a Unitisation Agreement, the Minister for Energy is empowered to stipulate the terms and conditions of such an agreement per Regulation 50(6) of L.I. 2359,” a letter from the Energy Minister to the two companies stated.
SEP is a majority interest holder (84 percent) and operator of the WCTP2 Licence, with the Ghana National Petroleum Corporation and its exploration company, EXPLORCO, holding the remaining interest.
SEP drilled the Afina-1 well in October 2019, making two gas and light sweet oil discoveries at a water depth of 1,030 meters, and, consequently, more than doubling its proven oil reserves to 1.5 billion barrels and adding 0.7Tcf of gas.
On the other side, Sankofa is a part of the Eni-operated OCTP Block, where Eni holds a 44.44 percent interest, Vitol 35.56 percent, and GNPC 20 percent.
The OCTP Block is reported to have reserves of about 40 billion cubic metres of unassociated gas and 500 million barrels of oil, and has been producing since 2017 from the John Agyekum Kufuor FPSO.
While both operators have until August 2020 to complete their negotiations, the African Energy Chamber in a statement copied to energynewsafrica.com, said it is hopeful that it would result in the very first Unitisation Agreement between an International Oil Company and a Ghanaian operator in the country, ushering a new era for Ghana’s upstream sector.
The conclusion of such an agreement would ensure efficient reservoir exploitation, avoid unnecessary competitive drilling and maximise economic recovery of the hydrocarbons reserves from both licences.
This would not be the first such agreement in Ghana.
In July 2009, a Unitisation and Unit Operating Agreement (UUOA) was signed for the development of the Jubilee Field, appointing Tullow Oil as its operator.
The field entered into production a year later and has been successfully producing since then, becoming the crown jewel of Ghana’s oil & gas sector.
“Oil and gas works best with an enabling environment. The Government of Ghana and the Ministry of Energy are demonstrating a very pro-active attitude towards the development of the country’s oil & gas sector. Their directive to push for negotiations on a Unitisation Agreement on Afina and Sankofa to be completed within 120 days is proof of political will that works to benefit the energy sector and the country,” stated NJ Ayuk, Executive Chairman at the African Energy Chamber.
“Fast-tracking the development of these fields is very positive given current market dynamics and ensures that a credible Ghanaian operator will start producing at a time when other players are shying away from investing in Africa’s upstream,” he added.
“We are very bullish that Springfield E&P can move ahead, make the deal work for Ghana’s oil sector and become a remarkable example of what African E&P companies can achieve for our industry and our continent,” concluded Ayuk.
Source:www.energynewsafrica.com
Ghana: Gas Explosion Kills Man, 51, Two Children At Ashaiman (Video)
A gas explosion at Lebanon Zone Two, a suburb of Ashaiman in the Greater Accra Region of the Republic of Ghana, has left 51-year-old Michael Akpeleteh and his two children dead.
The three deceased persons got burnt when a gas cylinder exploded on Thursday.
Eyewitnesses’ accounts indicated that the wife of the deceased, Michael Akpeleteh, set fire on a gas stove to prepare rice porridge and left it in the care of the children for the market.
According to the eyewitnesses, few minutes after the woman had left, the gas cylinder exploded, when the husband and his four children were all in the room.
They continued that when the cylinder exploded, the father and his children could not see their way out, so they were trapped in the explosion, consequently, suffering massive burns and were dashed to the Tema General Hospital.Energynewsafrica.com gathered that Michael Akpeleteh and his 12 -year-old daughter died on the way while the other child died on admission.
Meanwhile, two other children of the late Michael Akpeleteh who sustained serious injuries are on admission and responding to treatment at the Tema General Hospital.
Medical Director at the Tema General Hospital, Dr Richard Anthony told the press that Michael Akpeleteh and his 12-year-old daughter were brought in dead while the third died few minutes on admission at the hospital.
The remains of the deceased, according to Dr Richard Anthony, have been deposited at the hospital’s morgue.
Source: www.energynewsafrica.com
African Energy Companies Join ‘Equal By 30 Campaign’ To Push For Leadership And Opportunities For Women In Energy
The African Energy Chamber has become a signatory to the Equal by 30 Campaign which calls for equal pay, equal leadership and equal opportunities for women in the clean energy sector by 2030.
The Chamber has been joined in this initiative by a series of its partners, including Centurion Law Group, Tsavo Oilfield Services, Apex Industries, DMWA Resources, the Germany Africa Business Forum and Africa Oil & Power.
The Equal by 30 Campaign is being rolled out with the aim to advance gender equality and ensure women are firmly at the centre of the energy industry.
As signatories, the Chamber and its partners have endorsed principles and taken concrete action to accelerate the participation of women in the energy sector and close the gender gap in Africa.
The Equal by 30 campaign is a joint initiative of the Clean Energy, Education and Empowerment Initiative (C3E), which works to advance the participation of women in the clean energy transition and close the gender gap, and the International Energy Agency (IEA).
The Equal by 30 campaign aims to have public and private sector commitments to work towards equal pay, equal leadership and equal opportunities for women in the clean energy sector by 2030.
There is more urgency than ever to align political, financial, economic and social resources to create a more equitable energy sector in Africa for all, and we firmly believe, as a coalition, that this cannot be done without involving women.
The Chamber and its partners who have joined the call all have multi-pronged and complimentary spheres of operation, making them a powerful group to promote the campaign’s agenda far and wide across the African continent.
“It is not a question that women add incredible value to the businesses they run and operate in the energy sector. The African energy industry must move beyond words and platitudes and must ensure women are included in all facets of our energy sector” stated NJ Ayuk, Executive Chairman at the African Energy Chamber.
“We are proud to fully support this campaign as the Chamber and to bring a lot of companies operating in the energy sector on board as well. There is a whole lot of change going on at the moment, therefore there is no better time to ensure we build a bright future that includes women, looking ahead at 2030 and beyond.” added Ayuk.
The transformation of the global energy sector will only succeed if we harness all available talent, which means removing barriers to women’s participation, empowering women, and creating a more inclusive energy sector overall. The energy sector remains one of the most gender imbalanced in the world. In response, world leaders pledged, in 2015, to achieve gender equality and empower women and girls by 2030.
To that end, the African Energy Chamber is proud to commit to creating positive change in the African energy industry and fostering a sustainable future for all. We encourage the rest of our partners to join the campaign, and look forward to working together with governments, industry and civil society to tackle the challenges of the energy transition with a diverse and inclusive energy workforce.
As of today, with the 7 organizations signing on, we are now at 144 signatories total, including 118 organizations, 13 partners and 13 governments. Equal by 30 is led and based at Natural Resources Canada, a division of the Government of Canada.
Source:www.energynewsafrica.com
Ghana: Energy Ministry Inaugurates Petroluem Hub Implementation Committee
Ghana’s Ministry of Energy has inaugurated the Petroluem Hub Implementation Committee to commence the coordination of all activities regarding the implementation and operation of the West African nation’s Petroleum Hub Development Corporation (PHDC).
The Committee is to be the focal point of all the activities regarding the realization of the Petroleum Hub dream.
Mr. Lawrence Apaalse, Chief Director of the Ministry of Energy, who spoke on behalf of the Sector Minister, John-Peter Amewu, explained that it had been the goal of the Ministry, under the leadership of the President to make Ghana a regional hub of refined petroleum products and petrochemicals hence, the development of a Master Plan toward the realization of this vision in 2018 by the Ministry.
“The Corporation will have the capacity and mandate to engage with prospective stakeholders and developers concerned with the hub”, he noted.
He further intimated that per the institutional arrangements proposed in the Master Plan, a Petroleum Hub Development Corporation (PHDC) is to be established by statute to coordinate all activities during implementation and operation of the Hub.
“The PHDC will have the mandate and capacity to engage with prospective developers and all stakeholders concerned with the hub”, he noted.
According to the Chief Director, the rationale for the formation of the Committee is that “in the absence of the PHDC, the Ministry has coordinated initial implementation activities thus far.
Start of Phase 1 implementation requires a dedicated team in place to properly coordinate activities, promote the project, engage prospective investors, review reports, plans and proposals, and ensure that implementation is done per the Master Plan in a cost-effective manner that provides value for money.
Dr Mohammed Amin Adam, Deputy Energy Minister in charge of Petroleum, expounded that the role of the Committee is therefore crucial as it is expected to carefully carry out the roles of the Petroleum Hub Development Corporation until the Corporation is fully operational.
Members of the Committee are as follows:
1. Dr Mohammed Amin Adam, Deputy Minister for Energy in charge of Petroleum (Co-Chair)
2. Hon. Joseph Cudjoe- Deputy Minister in charge of Finance and Infrastructure (Co-Chair)
3. Hon. Adu Boahen- Deputy Minister of Finance (Co-Chair)
4. Mr Jacob Amuah- Director of National Petroleum Authority
5. Mrs Anita Lokko- Director (Legal-MoEN)
6. Dr Eric Yeboah- Technical Advisor to the Senior Minister
7. Mr.Ali Nuhu Abeka- Acting Director(Petroleum Downstream)
8. Nana Kofi Oppong Damoah-Head (Communications and Public Affairs MoEN)
9. Mr Joseph Yankson- Legal Advisor (MoEN)
10. Charles Owusu- Advisor (Ministry of Finance)
11. Mr. Obed Kraine Boachie-Head (PD Marketing and Distribution Unit-MoEN)
12. Mrs Nancy Ayiku Botchwey- Administrative Officer (MoEN)
Hess Corporation Posts $2.4 Billion Loss
Oil and gas company, Hess Corporation has booked a loss for the first quarter of 2020 due to impairment charges resulting from the low oil price environment.
Hess on Thursday reported a net loss of $2.4 billion for 1Q 2020, including impairment and other after-tax charges of $2.3 billion resulting from the low price environment, compared with net income of $32 million in the first quarter of 2019.
Adjusted net loss was $182 million in the first quarter of 2020.
Oil and gas net production, excluding Libya, averaged 344,000 barrels of oil equivalent per day (boepd), up from 278,000 boepd in the first quarter of 2019.
The improved performance primarily resulted from a 46 per cent increase in Bakken production and the first full quarter of production at the Liza Field, offshore Guyana, which started production in December 2019.
E&P capital and exploratory expenditures were $631 million, compared with $542 million in the prior-year quarter.
Hess has further reduced its E&P capital and exploratory budget for 2020 to $1.9 billion, a 37 per cent reduction from the original budget of $3 billion.
This reduction will be achieved primarily by shifting from six rigs to one rig in the Bakken and deferring discretionary spending across the portfolio.
This includes a six to twelve-month deferral in the development of the Payara field and reduced 2020 drilling activity on the Stabroek Block offshore Guyana.
As a result of the unprecedented reduction in demand due to COVID-19, commercial storage in the United States is expected to reach capacity in the second quarter, which is requiring curtailments and shut-ins of production by the industry.
Hess has chartered three VLCCs to store 2 million barrels each of May, June, and July Bakken crude oil production that is expected to be sold in the fourth quarter of 2020.
Hess’ oil and gas production for 2020, excluding Libya, is forecast to be approximately 320,000 boepd.
The company’s E&P capital and exploratory expenditures are projected to be $1.9 billion, $1.1 billion lower than the beginning of year guidance primarily reflecting a reduction in the Bakken rig count and deferral of capital in Guyana.