Africa Oil & Power has signed a strategic partnership with Mozambique’s Ministry of Mineral Resources and Energy for the upcoming Mozambique Gas & Power 2021 Conference & Exhibition (March 8-9).
Africa Oil & Power (AOP) has signed a strategic partnership deal with Mozambique’s Ministry of Mineral Resources and Energy (MIREME) for the inaugural Mozambique Gas & Power (MGP) 2021 Conference & Exhibition.
The event will take place in Maputo on March 8-9, 2021.
The partnership defines MIREME as an official patron and event partner.
Minister of Mineral Resources and Energy H.E. Max Tonela will be in attendance, accompanied by a ministerial delegation of high-level decision makers; Africa Oil & Power represents the continent’s leading investment promotion platform for the energy sector.
“MGP 2021 provides a unique avenue for Mozambican energy authorities to engage with the local and global market, and to define opportunities for new and existing investors to make headway,” says Sandra Jeque, International Conference Director at Africa Oil & Power.
“We are both honored and excited to forge a strategic partnership with the Ministry, as it communicates to investors that government is proactively committed to building transparency, facilitating the ease of doing business and advocating private sector participation in the country’s most bankable projects.”
Under the theme Leveraging LNG: Building A Prosperous Mozambique MGP 2021 seeks to position the country as it prepares to transform into one of the top LNG exporters globally from 2022.
The conference targets investment opportunities across gas and power sectors; downstream diversification; and local capacity building, with a long-term view to utilizing gas resources to spur export generation, economic diversification, skills development and job creation across the energy value chain.
Interested in gaining insight on the current and future path of Mozambique’s growing energy market? Don’t miss out on H.E. Minister Max Tonela’s keynote presentation, or the chance to network with the ministerial delegation.
Source: www.energynewsafrica.com
Ghana’s largest opposition party, the National Democratic Congress (NDC), has insisted that it ended the five years’ power crisis that hit the West African nation before exiting power in 2016.
According to the National Chairman of the party, Samuel Ofosu Ampofo, his party, led by former President John Mahama ended the power crisis before he left office. And this, he said is contrary to claims by the governing party that it ended the when it assumed office.
Ghanaians will go to the polls on December 7, this year, to elect President and Members of Parliament to steer the affairs of the country.
Ahead of the polls, both the two leading political parties, NPP and NDC, which have had the opportunity to govern the country, are working hard to convince and explain to the electorate, which party is more competent and better in managing the country.
And the issue of which party has handled the energy sector of the country better is among the issues currently being discussed in the Ghanaian media.
Speaking at the outdooring of the party’s 2020 Manifesto, the National Chairman of NDC, Samuel Ofosu Ampofo said when NDC was in government, under John Mahama, they invested in energy infrastructure and, thereby, succeeded in ending the power crisis which was christened ‘dumsor’ in the Ghanaian parlance.
“Today, if Ghanaians enjoy continuous electricity in their homes and businesses, it is due to the prudent extensive infrastructural investments undertaken by the last NDC administration led by President John Dramani Mahama, in the energy sector. The NDC has positively impacted the lives of the people of Ghana in every aspect of our lives,” he said
Source:www.energynewsafrica.com
U.S oil and gas supermajor, ExxonMobil has announced another oil discovery off the coast of Guyana, at its Redtail well.
The US firm, which operates the huge Liza field off the South American nation, said the find is its 18th in Guyana.
Exxon said the Redtail-1 well in the Staborek block encountered 232feet of high quality oil-bearing sandstone.
It will now add to estimated recoverable resources of more than eight billion barrels of oil equivalent at Stabroek, it added.
ExxonMobil drilled the find around 1.5miles northwest of Yellowtail, another discovery it made in April last year.
The firm is 45% owner and operator of Redtail, partnered with Hess Guyana (30%) and Cnooc (25%).
In addition, drilling at the Yellowtail-2 well encountered 69 feet (21 meters) of net pay in “newly identified, high quality oil bearing reservoirs” among the original Yellowtail-1 discovery intervals.
Exxon said this is being evaluated for development in conjunction with nearby discoveries.
Mike Cousins, senior vice president of exploration and new ventures, said: “Our Stabroek Block exploration program continues to identify high-quality reservoirs in close proximity to previous discoveries, establishing efficient opportunities for new projects in Guyana.
“Developing these projects remains an integral part of ExxonMobil and our co-venturers’ long-term growth plans and a source of significant value for Guyana.”
Exxon is a major player off Guyana, having started up first production at the Liza field in December last year, paving the way to vast reserves.
Approximately 80 Guyanese employees, contractors and subcontractors took part in Redtail activities offshore, and more than 2,000 Guyanese and 600 local suppliers are supporting ExxonMobil’s activities in country, the firm said.
John Hess, CEO of Hess Corporation, said: “The Redtail-1 and Yellowtail-2 discoveries further demonstrate the significant exploration potential of the Stabroek Block and will add to the recoverable resource estimate of more than 8 billion barrels of oil equivalent.
“Redtail is the ninth discovery in the southeast area of the block which we expect will underpin future development.”
Source:www.energynewsafrica.com
Kariya Energy, a U.S based oil and gas company, has hinted of plans to enter into various definitive agreement to acquire upstream and midstream oil and gas assets in African countries.
The energy company announced this in a press statement distributed by APO Group.
Kariya Energy’s technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.
Kariya Energy and its management team’s engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities.
After spending 16 months reviewing data from various IOC’s, Kariya Energy will be pursuing acquisitions of various exploration and development plays either through Farm-in deals or operatorship through risk service contracts, or direct negotiations with sovereign governments.
Kariya Energy will continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.
Kariya Energy’s strategy has focused on the innovation and evaluation of new opportunities for resource extraction with great technology that has produced results.
Kariya Energy will pursue profitable small-scale LNG projects across Africa, a niche that its leadership has been skillful in building and making it profitable and scalable, boasting significant potential across the African market.
With its technology, Kariya can turn around African small-scale LNG and work with partners in addressing off-grid power generation for industrial and residential needs in remote locations and deal with issues around energy poverty.
Source:www.energynewsafrica.com
Ghana’s largest opposition party, the National Democratic Congress (NDC), has promised to provide streetlights in all cities, towns and villages to ensure security and boost the night economy in the West African state.
Launching the party’s manifesto in Accra, capital of Ghana, last night, its Presidential Candidate, John Dramani Mahama assured Ghanaians of providing streetlights in all cities, towns and villages as part of its universal street lighting project.
John Mahama also stressed that the iniative was adopted as a strategic step to encourage Ghanaians, who engage in trading and other businesses at night, to feel safe and secured; adding that night businesses are key to triggering growth to the national economic development drive.
This, he said, was part of the Energy Sector Levy (ESLA) project to progressively light every village in the country through the ‘Light Up’ Ghana initiative.
Source:www.energynewsafrica.com
Over 30 members of an inter-state-gang, including some fuel station operators, have been arrested for cheating motorists by tweaking fuel-dispensing machines using integrated chips (ICs).
The accused petrol bunk operators have been short supplying (2-3%) fuel to motorists.
Addressing a press conference, Cyberabad police commissioner VC Sajjanar said simultaneous searches were conducted in Telangana and Andhra Pradesh and they arrested 13 persons, including nine fuel station operators from the state.
In AP, officials arrested 19 persons, while seven accused, including two key accused — Jo Joseph and Shibu Thomas—are at large.
Jo Joseph and Shibu Thomas, both residents of Mumbai, had created ICs to tinker with the software of fuel-dispensing machines.
They supplied the ICs to Sheik Subhani of Eluru in Andhra Pradesh. Subhani in turn supplied the ICs to greedy petrol bunk owners in the two Telugu states. In Andhra, 22 fuel stations were sealed, while in Telangana 11 were shut down.
“Cyberabad police have gathered information about fuel stations where ICs were installed with the connivance of outlet owners, and causing loss to consumers by delivering less fuel than what was on the display board (i.e 2%-3% less for 1,000ml),’’ Sajjanar said.
Subhani reportedly bought each chip from the Mumbai-based duo by paying 1.2 lakh. He has a deep understanding about the mechanics of the fuel-dispensing machine and conspired to help the greedy fuel station owners in short filling motorists to increase their profits.
Speaking to TOI, AP legal metrology department controller M Kantha Rao said Subhani has over 10 years of expertise in installing manipulated chips in fuel-dispensing machines to deliver less petrol than actual display on board/meter. “Previously, there were instances where people had tampered other parts of the machine like pulser meter or mother board.
However, this is a new modus operandi. We have alerted the fuel-dispensing machine manufacturing companies about this,” Rao said. He admitted that it was easier for petrol stations to uninstall the chips.
Cyberabad police have recovered 14 ICs (chips), eight displays, three GBR cables, a motherboard, a car from Subhani.
Police had found manipulation was done at five IOC outlets, four bunks each of BPCL and HPCL.
In the state, police sealed fuel stations at Nandigama in Shadnagar, Alladurg, Domakonda in Kammareddy, Kotpally in Vikarabad, Melacheruvu and Chilkuru in Suryapet, Motakondur and Bibinagar in Bhongir, RC Puram and BDL Bhanoor in Sangareddy and informed the corporations concerned. Similarly, in AP, nine petrol stations in West Godavari, three in East Godavari district, one each in Chittoor, Rajahmundry, Visakhapatnam were sealed.
Source: www.energynewsafrica.com
French supermajor Total is giving up operatorship of five exploration blocks offshore Brazil in an environmentally sensitive area for which it has failed to secure drilling permits numerous times.
Total said on Monday that it had notified its partners last month that it is resigning from its role of operator of five exploration blocks in the Foz do Amazonas Basin, 120 kilometers (74 miles) offshore Brazil.
Total has also notified Brazil’s regulator ANP of its decision to give up operatorship of the blocks, which opens a six-month period in which a new operator will be appointed.
Total did not give details about why it is pulling out as the operator of those exploration blocks, but the French company has been denied in recent years permits to drill for oil and gas in those blocks close to the mouth of the Amazon and has met opposition from environmental groups about its plans to drill in areas where coral reefs have been spotted.
In 2018, Greenpeace said that a team of scientists onboard a Greenpeace ship had found a rhodolith field in the area Total was planning to drill.
“Now that we know the Amazon Reef extension overlaps with the perimeter of Total’s oil blocks, there is no other option for the Brazilian government but to deny the company’s license to drill for oil in the region,” Thiago Almeida, Greenpeace Brazil campaigner, said in April 2018.
At the end of 2018, Brazil’s environmental regulator Ibama rejected Total’s plan to drill in the blocks for a fifth and final time.
Oil and gas drilling in the blocks could endanger coral reefs and biodiversity in the area, Ibama said, agreeing with a technical assessment of the area.
In 2019, the regulator again denied Total’s request to reconsider restarting the licensing process for the blocks, meaning that the oil giant had to start the licensing process—on which Total had spent five years—from scratch.
Source: oilprice.com
Former President and current flag-bearer of Ghana’s largest opposition party, the National Democratic Congress (NDC), John Dramani Mahama, has accused his successor and flag-bearer of the governing New Patriotic Party (NPP), President Nana Akufo-Addo, of failing to increase electricity access in the West African nation to, at least, 90 percent.
According to Mr Mahama, he had expected the Akufo-Addo-led administration to increase electricity access to Ghanaians by 90 percent if not 100 percent from the 79.3 percent access rate before losing political power in December 2016.
Unfortunately, he said the current administration could only increase electricity access by a partly three percentage point.
Ghanaians will go to the polls on December 7, 2020, to elect a President and Members of Parliament (MPs) to steer the affairs of the country for the next four years.
Ahead of the polls, the governing party, New Patriotic Party (NPP), on August 22, 2020, outdoored its 2020 Manifesto. The NDC is also expected to outdoor theirs later today, Monday, September 7, 2020.
In a statement released ahead of today’s event, the former Ghanaian leader said: “In 2012, 69.2 percent of Ghanaians had access to electricity. In 2016, when I left office, after my first term as President, 79.3 percent of Ghanaians had access to electricity representing a ten-percentage points increase in 4 years.
“When I left office, I was confident that a new government would deliver 90 percent, if not 100 percent access to electricity in the next four years.
“However, the NPP government increased overall access to electricity from 79.3 percent to only 82.3 percent, a mere three percentage points increase,” the former President noted.
He promised to increase the access rate to 100 percent if Ghanaians vote for him to lead the country again.
“I run for President because I want to leave a legacy: a solid infrastructure, with 100 percent access for all. With this legacy, we will build a truly developed Ghana, on a par with the advanced nations,” he said.
Meanwhile, checks by energynewsafrica.com indicate that the 82.3 percent quoted by the former President is inaccurate.
According to report titled: ‘Ghana Power Report 2019/2020’, the country’s electricity access rate is around 84.98 percent.
Source:www.energynewsafrica.com
The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, has announced a net profit of US$54.8million for the first half of 2020.
The Corporation’s gross operating income for the period also stood at USD144.7 million
While down from the corresponding period last year at 20% and 22%, respectively, the net profit results are notable under the current market conditions due to the COVID-19 pandemic and oil price fluctuations.
The revenue was mainly affected by the decrease in dividends from portfolio companies as well as revaluations in the equity investments portfolio due to the pandemic.
Income from APICORP’s Treasury and Capital Markets rose to USD60.4 million, a 38% increase compared to the corresponding period of last year. Income over LIBOR from Corporate Banking for the period remained the same as compared to the first half of last year, reaching USD50.3 million.
Moreover, the Corporation maintained its annualized efficiency ratio at 25.6% for the period, the same as for the 2019 financial year.
Over the period, APICORP’s balance sheet grew 10% to reach USD 8.1 billion, due in large part to the growth in the size of its Treasury and Capital Markets portfolio which was funded mainly by the issuance of a benchmark USD750 million bond in June 2020.This has contributed to APICORP’s readiness to fund its future business needs. APICORP also further bolstered its financial sustainability by increasing the share of its liabilities whose maturity is beyond two years to 45% of its total liabilities and shareholders’ equity, up from 40% in December 2019.
Commenting on the announcement, Dr. Ahmed Ali Attiga, Chief Executive Officer, APICORP, said: “The results in the first six months of 2020 are a testament to the resilience of APICORP in the face of a tough global business environment. Notwithstanding the triple crisis of COVID-19, oil price volatility and economic downturn, APICORP continued to go from strength to strength, further bolstering its financial position and diversifying its portfolio as it continues its drive to support the energy transition in the region. This includes a historic callable capital increase, a highly successful benchmark bond issuance, a USD500 million countercyclical support package, being assigned a second rating of ‘AA’ with a stable outlook from Fitch, as well as forging new partnerships with other leaders in key projects within the energy space.”
“We are looking forward to the coming period for a gradual recovery in our operating environment and the new opportunities it will bring. As the trusted financial partner to the MENA region’s energy industry, we will continue to support our Member Countries and partners to alleviate the impact of COVID-19, with a focus on sustainable impact-driven energy projects and activities in the region,” Dr. Attiga added.
Dr. Sherif Ayoub, Chief Financial Officer, APICORP, said: “The robust financial and risk metrics, as well as profit-generating ability during challenging times of the first half of 2020, demonstrate APICORP’s ability to navigate unprecedented economic challenges. In particular, the liquidity metrics have shown tremendous resilience to withstand market shocks due, in part, to our deep and diverse funding base, while the capital adequacy ratio of 29.2% reflects the high-quality nature of our portfolio.”
Source:www.energynewsafrica.com
ExxonMobil, the world’s largest listed oil and gas company, has given up its rights to continue exploring oil and gas off South Africa.
The company had been exploring off the coast of KwaZulu-Natal, and also owns rights in blocks close to the Brulpadda find, off the coast of Mossel Bay.
According to Business Insider SA the U.S oil and gas giant closed its local venture office in late-July.
“This decision is consistent with our strategy to evaluate our upstream portfolio and opportunities for growth, restructuring or divestment, or exit depending on fit with strategic business objectives,” Business Insider quoted an unnamed source from ExxonMobil as saying.
In July, ExxonMobil suffered a $1.1 billion quarterly loss due to much weaker energy demand amid the pandemic. It is planning large spending cuts, including layoffs across the world.
While it decided to give up on exploration projects in South Africa, the decision does not impact the company’s downstream and chemical business in South Africa, the spokesperson said.
“Future investment opportunities in South Africa will be evaluated as they arise.”
Before leaving the country in 1986 amid apartheid, the company was active in South Africa for many years – it built the country’s first lubricants blending plant in 1955.
It returned in the 2000s, and Engen was first awarded the rights to market Exxon Mobil’s lubricants in the region.
In 2012, Exxon Mobil announced that it would become an operator of the Tugela South Exploration Right, which spans more than 9,000 square kilometres from Durban to Richards Bay.
At the time, this was seen as a risk as no big discoveries had been made in that area.
It also bought stakes in the Outeniqua Basin off the south coast of South Africa, close to the Brulpadda find which Total now believes can deliver 1 billion barrels of gas condensate.
Source:www.energynewsafrica.com
India’s Energy Efficiency Services Ltd (EESL) has announced that it will procure 250 electric vehicles from Tata Motors and Hyundai Motor India.
EESL settled on the two firms after an international competitive bidding process.
The two firms had won the global tender to supply 150 Nexon electric compact SUVs and 100 Kona electric premium SUVs, respectively, for government use.
EESL will procure Tata Nexon at Rs 14.86 lakh each, Rs 13,000 cheaper than its ex-showroom price of Rs 14.99 lakh, whereas Hyundai Kona, which offers a higher range, will be procured at an 11 per cent lower price band of Rs 21.36 lakh and with a standard three-year warranty.
These electric vehicles will replace the existing fleet of petrol and diesel vehicles of the central and state Governments.
EESL has already received an order for 300 Long Range EVs from The Agency for Non-Conventional Energy and Rural Technology (ANERT) in Kerala to be supplied in initial phase.
EESL had received financing from Asian Development Bank towards the cost of scaling up and financing high priority areas like Demand Side Energy Efficiency Sector Projects. The EV procurement will utilize $5 million from that grant.
“This will greatly enhance the energy security of the country and will also lead to reduction in GHG emissions from the transport sector. Furthermore, we’re also working on rapid establishment of EV charging stations, which will give a fillip to the electric vehicle sales, going forward,” Saurabh Kumar, MD, EESL said.
EESL is seeking to create the market for electric vehicles through its business model of aggregation of demand and bulk procurement. It leverages the immense potential of replacement of existing vehicles in the government departments for initial demand aggregation.
Source:www.energynewsafrica.com
It is refreshing to note how time flies. So soon, it is five years when the agreement for supply of flexible pipe structures for Eni’s Offshore Cape Three Points (OCTP) project offshore the Republic of Ghana was signed between National Oilwell Varco (NOV) and ENI Ghana.
Offshore Cape Three Points (OCTP) is an integrated project for developing fields of oil and non-associated gas. It is the only non-associated gas development project that is entirely dedicated to the domestic market in sub-Saharan Africa. ENI is an operator with 44.44 percent of the permit for OCTP, which is governed by a concession agreement.
The block, which has reserves of about 40 billion m3 of non-associated gas and 500 million barrels of oil, is located about 60 kilometers off the coast of western Ghana.
Ahead of the fifth anniversary, which falls on September 12, 2020, energynewsafrica.com interviewed Jide Agunbiade (PhD), who is the Director of Business Development for National Oilwell Varco, and we have produced it here for our readers.
What was the scope of NOV’s involvement in Ghana’s landmark OCTP integrated oil and gas project?
NOV was responsible for acting as the primary interface between the company, local partner and government bodies, and managing stakeholders’ and client’s (Eni) expectations throughout the life cycle of the project. We conducted local vendor assessment, selection and monitoring for the local fabrication of subsea components (steel bend restrictors and hold-back anchors). NOV was responsible for the development and implementation of local content strategies for the project and for the development of project management plans. Finally, our firm ensured that the aftermarket service of riser monitoring is called-off by the company; that Vortex-induced Vibration (VIV) study and flow assurance for the project were carried out locally; and that several Ghanaians were trained in the areas of offshore installation monitoring for the project. This scope has since been handled locally.
What did the project represent for the company?
The OCTP project is NOV’s largest project in kilometers for flexible pipes (118km) and the largest flexible pipeline project ever supplied to sub-Saharan Africa. Through the OCTP project, NOV appreciated the need and importance of setting up and investing in not only Ghana but also Sub-Saharan Africa (SSA) as a whole. The OCTP story will go on to encourage NOV to pursue establishing in other countries on the African continent. In addition, steel bend restrictors were fabricated locally for the first time in Ghana. This legacy project was an opportunity for NOV to showcase our commitment to local content in Ghana and SSA. This project not only generated revenue for NOV, but also Ghana’s economy.
What was the detailed local content scope, and how has it shaped Ghana’s petroleum sector?
The local content scope included: 30 steel bend restrictors, two hold-back anchors, VIV study, flow assurance study, installation surveillance and integrity monitoring training, and the employment of Ghanaians to be trained in VIV study and flow assurance. Through this project, over $20 million was spent via local content into the Ghanaian economy, and several local Ghanaian companies were technologically and financially empowered through. Not only did the OCTP development encourage IOCs and multinationals to be more active in local content, but also it validated the feasibility of locally fabricating industry standards and approved structures. Due to the successful delivery of the project according to quality, time, cost and client expectations, NOV has gained an outstanding reputation in the industry and is now regarded as a critical local content player in Ghana.
What have been National Oilwell Varco’s (NOV) key achievements across its sub-Saharan markets?
NOV has maintained its position as the leader in the design, manufacture and sale of equipment and components used in the sub-Saharan African (SSA) energy industry by pursuing purposeful innovation and fostering a service-first culture. Our primary achievements include:
• Successful local fabrication of steel bend restrictors in Ghana for both Eni and Tullow Oil.
• Successful local fabrication and delivery of the offloading buoy for the Total Egina Project in Nigeria.
• Successful delivery of Tullow Greater Jubilee offloading buoy in Ghana.
• Successful delivery of flexible pipes across SSA with no failures.
• Provision of cutting-edge technology to enhance optimization in the operations of IOCs and EPCI companies across the region. An example is NOV’s subsea water injection technology, Seabox, which continues to receive praise from IOCs.
• Continuous successful R&D to develop new solutions that can operate in water depths beyond 2500m; systems that can withstand internal pressures close to1,000 bar; and materials capable of operational temperatures exceeding +130°C.
• Installing the first and only flexible pipeline system in Swamp with Shell at the Odidi field.
In terms of ongoing 2020 flexible pipeline projects across the sub-Saharan region, NOV is currently supplying a flexible pipeline system and ancillary products to the G19 Replacement and Okume field in Equatorial Guinea for Trident Energy, and to Senegal’s Sangomar Field Development for Subsea 7. We are fulfilling Offshore Riser Integrity Monitoring for Eni’s Offshore Cape Three Points (OCTP) project and a Greater Jubilee Framework Agreement on a call-off basis for Tullow Oil in Ghana. NOV has current contracts with Melcurt for the Okono Okpoho project and First E&P for the Anyala Madu Fields Development, both in Nigeria; and with Cabinda Gulf Oil Company Limited and Operatec for the Lifua field in Angola.
As you mentioned, NOV is also responsible for the first flexible pipeline installation in the swamp in Nigeria for the Shell SPDC Odidi project. How did the project enable NOV to increase the value proposition of flexible pipe systems?
The success of this project was a breakthrough because of it’s ability to mitigate the massive bunkering happening in the Niger Delta area of Nigeria. This solution addresses possible asset integrity issues related to the vandalization of rigid pipeline systems on the swamp. The success of this project ensures that a tamper-proof, flexible pipeline solution now exists to replace the network of rigid pipeline system in the swamp in Nigeria and across West Africa. NOV Flexibles provides a number of professional services related to the Integrity Management of flexible pipes. The NOV Flexibles philosophy is to assist our customers towards a safer and more efficient operation by providing the tools needed for a well-planned integrity management program. Our integrity services include periodic test and inspection, embedded monitoring systems and thorough assessment of all data from flexible pipes in operation.
Mr. Fabio Cavanna (Left); former Managing Director, eni Ghana E&P Ltd. and Dr. Babajide Agunbiade (Right), Director for Business Development at National Oilwell Varco, Houston Texas USA. This picture was taken on September 12, 2015, during the signing of the OCTP contract between NOV and ENI Ghana.
NOV Flexibles also offer services in the pre-project phase with the design of feasible solutions based on our vast experience as a manufacturer of flexible pipes combined with our in-house flexible pipe experts, extensive laboratory facilities, specialized software tools, and experienced offshore personnel. It is also extremely difficult to install bunkering points on our flexible pipeline as compared to rigid pipes. Finally, it has a cheaper replacement cost when the pipeline installation is factored in.
Tell us about National Oilwell Varco
National Oilwell Varco is a leading worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company conducts operations in more than 600 locations across six continents, operating through three reporting segments: Rig Technologies, Wellbore Technologies, and Completion & Production Solutions.
What differentiates NOV’s design and manufacturing capabilities and provision of oilfield services from other multinationals?
As one of the largest upstream oil and gas equipment manufacturers globally, NOV is just as focused on manufacturing as we are on providing world-class after-service to our clients. We understand that manufacturing is our strength. As a result, we invest extensive time and resources into R&D and leading technology generation to return maximum value to our clients and help optimize their processes. In addition to our solutions in completion and production, NOV is the leading worldwide provider of equipment and components used in oil and gas drilling and Welbore solutions.
In the context of COVID-19, what strategies has NOV implemented to control costs and continue to service clients effectively?
NOV has significantly reduced profits to help clients save costs. We continue to employ the use of cutting edge innovations to reduce client operational time and costs and have adjusted staff models and work plans to reduce operating costs. The use of platforms and webinars on LinkedIn and Microsoft Teams during the pandemic has helped maintain communication and also cut down travel costs regularly associated with client operations.
What role has digitalization played in cost control?
Smart Manufacturing is currently appealing to the process and manufacturing industries. Digitalization presents several possible applications for automation, ranging from subsea installation to ROV support, to production management and smarter maintenance systems. Digitalization leads to optimization of component lifetime and maintenance to new system structures where open standards play a significant role. Better connectivity implies information will be more easily accessible. Besides, functions that were separate before are now more meticulously cohesive. As a result, digitalization has significantly increased opportunities for cost control, real-time condition monitoring and reduced downtime.
In addition to NOV’s role in the OCTP project, how has the company contributed to local content development and job creation on the ground?
NOV has made ongoing contributions to training, empowering and assisting local companies and has a sustainable local content development plan for every sub-Saharan market in which we operate. In addition to creating jobs and revenue for numerous local companies in the region, NOV encourages offshore manufacturers to develop relationships and partnerships with indigenous companies and to maintain excellent in-country manufacturing capabilities and service delivery. For example, in 2016, we assisted a local fabrication company in developing a partnership with a more experienced engineering company in Denmark. This intervention has helped grow the local company tremendously.
NOV’s local content strategy is about maximizing the use of local companies and capacity in projects, thus developing indigenous service providers and suppliers – manufacturers, fabricators, and vendors – to enable us to maintain excellence. By maximizing local participation, projects result in significant local content, engendering technology transfer and development. It is also envisaged that this will induce a spate of manufacturing activity and spur economic growth within our host countries across Africa. Content surveys are conducted at scheduled intervals to identify indigenous companies capable of providing the goods and services NOV requires.
Looking ahead, what are NOV’s objectives in a post-COVID-19 landscape?
Our objectives are to continue to execute more R&D to establish other cutting edge technologies in this ever-changing oil and gas industry; to invest and lead in bringing technology and digital solutions that will take our clients to the next level; to be attentive to our customer’s needs; to execute and maintain sustainable measures to assist our clients remotely.
Babajide Agunbiade Ph.D.
Jide is a subsea engineer with over 20 years’ experience in the offshore industry. As Business Development Director for NOV, he has been responsible for several major and groundbreaking projects across Africa and Golf of Mexico. He leads BD activities in the design and engineering of subsea production systems, with a particular focus on flexible pipeline system
Source:www.energynewsafrica.com
The agency in charge of government’s revenue in the Republic of Ghana, Ghana Revenue Authority (GRA), has described as false, accusations of fuel smuggling by its Customs Division.
The GRA’s comments come on the back of a recent claim by Kevin Ekow Taylor, a Ghanaian journalist and resident of the U.S that the Custom Division of GRA was colluding with some persons at the seat of government, Jubilee House, to smuggle fuel into the country.
He claimed that about 50,000 metric tons of fuel, worth US$10 million, is smuggled into the country by cartels at the Jubilee House.
This was published by some online portals.
It would be recalled that on May 13, 2020, this portal reported of the arrest of eight persons for engaging in illegal fuel trading at high sea in the Western Region.
The Western Regional Director of the Ghana Maritime Authority, Captain William Eson Thompson said the Ghana Maritime Authority, the Western Navy and Marine Police have been collaborating to patrol the sea at night.
The suspects have since been prosecuted.
However, responding to the allegations, the GRA, in a statement, asked the general public to disregard these “negative assertions” circulating on social media purportedly made by a private radio station.
“The Authority views these allegations as mischievous and malicious since they have no merit,” GRA said in the statement.
In what could be described as evidence-based, GRA explained that a vessel with the name MT Randl, which was carrying fuel from Togo to Cote d’Ivoire in May 2020 was intercepted in Takoradi.
The statement added that the vessel was escorted out of Ghana’s territorial waters to where it came from since it was in a bad shape and could pose environmental hazard.
The escort was done by the relevant agencies including the Ghana Navy, Ghana Maritime Authority (GMA) and the Customs Division of GRA in Takoradi.
The Authority further narrated the situation surrounding the interception of another vessel, Dende, by the Ghana Maritime Authority and the Western Naval Command of the Ghana Navy in June.
“The Dende, which was carrying about 50,000 litres of fuel, was detained and the fuel offloaded to avoid contamination. The vessel, together with the fuel, is currently in the custody of the Ghana Navy at the Western Naval Base. Investigations are currently ongoing in the case of the arrest of Dende and the outcome will be made public,” the statement concluded.
Source: www.energynewsafrica.com
Commodity research firm S&P Global Platts recently said in a report that India’s economic activity and oil demand has been hurt recently with states re-imposing stringent lockdowns following a sharp uptick in coronavirus cases.
The country is the worst-hit among emerging economies when it comes to oil demand, Asia Oil Market Advisor JY Lim says in an exclusive interview with ETEnergyworld.
Based on the data and analysis done by Platts related to India’s petroleum products demand trends, how bad or worrisome is the situation?
India’s oil demand was down year-on-year by 2.1 million b/d in April, and then improved in May and June, but still down year-on-year by 1 million b/d and 335,000 b/d, respectively. In July, demand dropped further by 515,000 b/d year on year, derailed by localized lockdowns and flooding in some parts of the country due to heavy monsoon rains. It would be worrisome if demand continues to drop further.
If India is yet to reach the peak of Covid infections, it means economic activity could be further disrupted in months to come. What gives you the confidence the petroleum products demand recovery will improve over the second half of the current year 2020?
We expect demand to gradually improve over the coming months as the situation slowly comes under control, but there is a downside risk if demand continues to worsen due to further lockdowns.
According to Platts analysis, India will end 2020 with annual drop in oil demand at 480,000 bpd (or 9.5 per cent). How does that statistic compare with other key emerging and developed nations? Would this be the largest drop in oil demand among all the nations?
Among the emerging economies, India is expected to be the worst hit country in terms of b/d basis. Brazil, which is also badly hit by COVID-19, and will see a drop of 13% though contract year-on-year only by 255,000 b/d due to lower demand base. As for developed economies, the US is expected to drop year on year by 2.2 million b/d this year or 11% – a lot worse than India.
At a policy/regulatory level, what would you recommend the Indian government to do to address this expected drop in oil demand over the next few months?
In addition to combating COVID-19, the Indian government could consider lowering excise duties on petrol and diesel, which have been raised in recent months and are high relative to other developing countries, so as to alleviate burdens on consumers and businesses in the midst of the pandemic.
Can you also throw some light on the outlook for the next year 2021?
S&P Global Platts expects India’s oil demand growth in 2021 to be positive, rising by some 400,000-500,000 b/d as its economy rebounds next year.
Source: www.energynewsafrica.com
