Ghana: CBOD Demands Suspension Of All Petroleum Downstream Sector Engagements Over Covid-19
The Chamber of Bulk Oil Distributors (CBOD) in the Republic of Ghana, is demanding the suspension of all petroleum downstream industry engagements.
The demand follows the outbreak of coronavirus in the West African which prompted the President Nana Akufo-Addo announcing some measures including banning of all public gathering shutting down of schools over a period of one month.
So far Ghana has recorded about six cases of the contagious diseases.
In a statement signed by the Chief Executive Officer of CBOD, Senyo Hosi, it said the chamber has written to the National Petroleum Authority requesting suspension of all industry engagements over the 4 week period recommended by the President in his national address on Sunday.
CBOD noted in the statement that it will operate remotely beginning today, march 17, 2020 to march 30, 2020.
“CBOD staff will be available on call, email and teleconferencing to address any issue members may have,” the statement said.
Source:www.energynewsafrica.com
Source: www.energynewsafrica.com
Ghana: Adhere To All Measures By GHS, WHO To Avoid Spread Of Covid-19- CBOD To BDCS
The Chamber of Bulk Oil Distributors (CBOD) in the Republic of Ghana, is urging its members to abide by the preventive measures advised by the Ghana Health Services and World Health Organization and equip their offices with sanitizers to enable staff and customers to ensure proper hygiene to prevent the spread of Coronavirus (COVID-19).
The chamber also called on its members to ensure availability of water and detergents at all times to facilitate unrestrained handwashing and cleaning.
It further advised its members to provide paper towels (in dispensers) and not reusable hand towels in all their offices.
This advice follows the outbreak of the contagious Coronavirus in the West African nation.
So far Ghana has recorded six cases of COVID-19 prompting President Nana Akufo-Addo to issue a directive banning public gathering and shutting down of both public and private schools for four weeks.
In a statement signed by the Chief Executive Officer of CBOD, Mr Senyo Hosi and copied to energynewsafrica.com, the Chamber further advised its members to put in place remote working protocols to encourage staff to work from home where possible.
“They should endeavor to employ technology to facilitate meetings and gathering remotely.
“All depots are requested to advise protocols for the management of the covid-19 pandemic at their various facilities. These protocols should be advised to all users of their facilities including OMCS, GRA, BDCS, Tankers, NPA officers, etc.
“Depots are further advised to ensure that users of their facilities fully equip themselves with all necessary personal protective equipment and comply with the set down protocols in their facilities. Any user of the facility who refuses to comply with both the standard HSSE and anti Covid -19 should be forces to leave the facilities,” CBOD said.
CBOD urged all members to be calm and prioritise their personal health and the wellbeing of their families at this time.
“While we pursue our safety we (BDCS and CBOD) shall in no way neglect our responsibility to Ghana, our motherland,” it assured.
Source: www.energynewsafrica.com
Liberia: Gas Shortage Resurfaces In Liberia Amid Outbreak Of COVID-19
Liberia has been once again hit by shortages of gasoline as the West Africa nation confirms its first case of the deadly Coronavirus.
This shortage is coming at the time when the global pandemic of COVID-19, is also wreaking havoc on the economies of major producers and suppliers of petroleum products on the world markets.
According to FrontPageAfrica, vehicle operators and others have formed long, disordered queues fighting to get few gallons of the vital product, which powers their vehicles and home generators.
Four weeks ago the country was hit with gasoline shortages prompting President George Manneh Oppong Weah to set up a Special Task Force to probe into the issue.
The previous shortage seriously hampered normal activities, including that of businesses. One area that the visibility of the shortage can be seen is at the Rehab Total station, just a stone’s throw from President George Weah’s official residence.
One authoritative source in the petroleum industry told FrontPageAfrica, due to the COVID-19 pandemic, this is going to stop ships that bring the product from coming to Liberia over the next few weeks
The first shortage only affected gasoline but the source stated that the present one will also touch diesel; adding: “This is going to last for probably three months.”
Source: www.energynewsafrica.com
The previous shortage seriously hampered normal activities, including that of businesses. One area that the visibility of the shortage can be seen is at the Rehab Total station, just a stone’s throw from President George Weah’s official residence.
One authoritative source in the petroleum industry told FrontPageAfrica, due to the COVID-19 pandemic, this is going to stop ships that bring the product from coming to Liberia over the next few weeks
The first shortage only affected gasoline but the source stated that the present one will also touch diesel; adding: “This is going to last for probably three months.”
Source: www.energynewsafrica.com
Ghana: Power Outage In Accra, Others Due To Technical Faults From GRIDCo-ECG
Ghana’s power distribution company, Electricity Company of Ghana (ECG) is blaming the power outage being experienced in parts of the national capital- Accra and other operational areas on a technical challenge from the power transmission company, GRIDCo.
In an alert, ECG explained “that the outage being experienced in parts of Accra and other ECG operational areas is due to a technical challenge from GRIDCo”.
While apologizing for the inconvenience caused to its customers, ECG assured that the power supply will be restored to the affected areas once the anomalies are resolved.
“Customers should please note that power supply will be restored to all affected areas immediately GRIDCo rectifies the situation. The inconvenience caused by this technical challenge from GRIDCo is deeply regretted.”
Energynewsafrica.com’s monitoring on social media platforms indicate that areas such as Dome, Dansoman, Adabraka, Lapaz, North Kaneshie are currently without lights.
Ghana: GOIL Reduces Fuel Prices By 27 pesewas At Pump
Indigenous and largest oil marketing company in the Republic of Ghana, GOIL COMPANY LIMITED, has reduced fuel prices by 27 pesewas per litre with effect from Monday 16th March, 2020.
The company’s Super XP RON 95 will now sell at 5.11Cedis while Diesel XP will sell at 5.13 Cedis.
There has been calls by section of Ghanaians including Chamber of Petroleum Consumers (COPEC) for the oil marketing companies to reduce the prices of fuel at the pump following the fall in crude oil prices on the international market.
At about 3pm Monday, WTI crude was trading at about US$29.93 while Brent was selling at US$ 32.33 per barrel.
In a statement signed by Robert Kyere, Public Relations Managers for GOIL, it said the revision in prices is as a result of reduction in international prices of finished products and the relative stability of the Cedi against major currencies especially the US Dollar.
GOIL recently introduced a higher grade Super XP (RON 95) onto the market for all customers at no extra cost and at the last window, took the extraordinary step to reduce the price of the higher grade and quality RON 95.
Source: www.energynewsafrica.com
Ghana: GRIDCo Demolishes Unauthorised Structures Under Its Pylons, Renders Over 1000 People Homeless (Video + Photos)
Ghana’s power transmission company, GRIDCo, has demolished several unauthorised structures sited under its pylons from American house through to Dzorwulu, a suburb of Accra, capital of Ghana.
Some of the structures include drinking spots, wooden houses, chop bars, fitting shops, ghettos, block buildings. The demolishing exercise resulted in over a thousand people being rendered homeless.
The exercise followed warning notice by the power transmission company asking all those who have put up structures under their pylons to evacuate due to the dangers associated with living under the pylons.
When energynewsafrica.com team got to the scene on Saturday, scores of the victims were seen gathering their losses. Some of the victims told energynewsafrica.com that the area was invaded by security personnel without their notice around 3am Friday.
A women alleged that the security personnel gave her some beating even though she had a child at her back.
According to a man who gave his name as Capii, the number of people who have been rendered homeless by the demolition exercise is over 1000 including school children.
They accused the Akufo-Addo administration of treating them badly saying elsewhere they would have been given them some money to enable them go and rent apartments.
According to some of them, they do not have anywhere to go and therefore warned that they do not expect the Hon. Lydia Seyram Alhassan, who is the Member of Parliament for Ayawaso West Wuogon to come there to campaign ahead of 2020 General Election.
Click on the video to watch
Source: www.energynewsafrica.com
When energynewsafrica.com team got to the scene on Saturday, scores of the victims were seen gathering their losses. Some of the victims told energynewsafrica.com that the area was invaded by security personnel without their notice around 3am Friday.
A women alleged that the security personnel gave her some beating even though she had a child at her back.According to a man who gave his name as Capii, the number of people who have been rendered homeless by the demolition exercise is over 1000 including school children.
They accused the Akufo-Addo administration of treating them badly saying elsewhere they would have been given them some money to enable them go and rent apartments.
According to some of them, they do not have anywhere to go and therefore warned that they do not expect the Hon. Lydia Seyram Alhassan, who is the Member of Parliament for Ayawaso West Wuogon to come there to campaign ahead of 2020 General Election.
Click on the video to watch
Source: www.energynewsafrica.com Ghana: Ghanaians Urged Not To Accept Less Than 20% Reduction In Fuel Price
A former Head of Communications at Ghana’s Ministry of Energy Edward Bawa says Ghanaians should not accept anything less than 20% reduction in fuel prices following a drastic fall in prices of crude oil.
His call follows drop in the crude oil price on the international market due to the outbreak of the deadly coronavirus which has lowered oil demand.
As at about 6pm Sunday, March 15, 2020, WTI crude was trading around US$31.73 per barrel while Brent was around US$35.44.
Energy Think Tank, Institute for Energy Security is predicting a reduction in fuel prices from between 5 and 8 percent for the second pricing window.
However, even before this happens, Edward Bawa, who is a Member of Parliament for Bongo Constituency say any reduction below 20 % will amount to insensitivity on the part of government.
Speaking in an interview with Citi FM on the sidelines of a health walk organized by the NDC Tertiary Education Institutions Network (TEIN) in Bolgatanga Edward Bawa, said, “The NPP government has increased fuel prices 24 different times. From last two weeks till now, fuel prices in terms of international crude oil prices have reduced from 70% per barrel to about 36% per barrel but they have not reduced fuel prices at the pumps. They are telling Ghanaians that the next window for fuel review is on Monday [March 16, 2020]. We are waiting to see how much they are going to reduce.”
“We are expecting nothing less than 20% reduction in fuel prices at the pumps because crude oil is a critical ingredient in determining ex-pump prices. If you have crude oil coming down from US$70 to around US$36 and the dollar has been stable because of coronavirus, you have no reason than to decrease it because if you push that into the formula, we should be getting nothing less than 20%. So the possibility of a 15% reduction in fuel prices is unacceptable,” he said.
Mr. Bawa reiterated that a 20% reduction in fuel prices will not put oil marketing companies in financial distress as the government could depend on funds from the Special Petroleum Tax to cushion the companies.
He opined that the cedi has gained relative stability due to the coronavirus outbreak and thus the NPP government should not rejoice over the stability of the cedi.
“Today the NPP sees that there has been a stability of the cedi and they talk about it but one thing they have not told Ghanaians is that, because of the coronavirus, people are no longer travelling and so there is no demand for the dollar. Let the coronavirus go away and the cedi will start falling. The prediction is that we may hit the GHS6.00 mark by the end of the year and that is a terrible performance.”
He reiterated that the NDC government was a better manager of the economy than the NPP government.
Source: www.energynewsafrica.com
Ghana: COPEC Demands Protective Equipment For Drivers, Pump Attendants Due To Outbreak Of Coronavirus
A petroleum consumer advocacy group, Chamber of Petroleum Consumers (COPEC) in the Republic of Ghana, says it has concluded discussions with the Ghana Private Road Transport Union (GPRTU) and Association of Oil Marketing Companies (AOMCS) for the immediate purchase and distribution of basic preventive clothing and equipment for drivers, pump attendants and other service providers.
The decision follows the outbreak of the deadly Coronavirus (COVID-19) in the West African nation.
So far Ghana has recorded about six cases of the Coronavirus.
Executive Secretary of COPEC, Duncan Amoah told energynewsafrica.com, that there was the need for the pump attendants and other service providers to be protected again the spread of the infectious disease.
In a statement the Chamber encouraged as many fuel stations to make all the necessary arrangements to install self-serving or automated pumps across some service stations to reduce the possibility of physical contact between the customer and attendants at the various stations within this period.
COPEC further called for the use of electronic payment systems and platforms in the payment for the services and products at these service stations as well as the payment of fares for public transport where possible.
“We encourage the public to strictly abide by and observe all the health protocols as spelt out by the Ghana Health Service under the current circumstances to prevent an escalation in the number of infections as Authorities continue to work strenuously to contain and eradicate the upsurge and incidence of this virus outbreak,” it added.
Source:www.energynewsafrica.com
CNOOC Makes Large Oil Discovery In Bohai Bay
Chinese oil and gas company CNOOC Limited has made a large-sized discovery Kenli 6-1 in Bohai Bay, which is expected to be the first large-sized oil filed in Laibei lower uplift.
The Kenli 6-1 structure is located in Laibei lower uplift in the southern Bohai basin with an average water depth of about 19.2 meters.
CNOOC said on Monday that the discovery well KL6-1-3 was drilled and completed at a depth of 1,596 meters, and encountered oil pay zones with a total thickness of approximately 20 meters.
The well was tested to produce around 1,178 barrels of oil per day, the company added.
The company also noted that this successful exploration well represented a breakthrough in the exploration area of Laibei lower uplift, and further proved the huge exploration potential of the Neogene lithologic reservoir in the Laizhou Bay.
Source: www.energynewsafrica.com
Saudi Aramco Slashes CAPEX As Oil-Price War Hits Home
Saudi Arabia’s national oil company, Aramco is slashing its capital expenditure for this year amid the oil-price war.
Capital expenditure will be between $25 billion and $30 billion in 2020 and spending plans for next year and beyond are being reviewed, Aramco said.
The oil giant is lowering that range from the planned $35 billion to $40 billion announced in its IPO prospectus, and compares with $32.8 billion in 2019.
“That was the surprise,” Ahmed Hazem Maher, an analyst at EFG Hermes in Cairo, said of the spending cut.
“They’re adding production in a low price environment so their cash flows could be impacted.” Cutting investment could help absorb some of the impact of the drop in oil prices, he said.
The oil-price war led by Saudi Arabia and Russia means more pain for Aramco as producing nations prepare to boost supply.
Discounted pricing to markets already reeling from weak demand and crude that lost roughly half its value since the beginning of the year is likely to hit revenue further.
Aramco shares fell as much as 0.9% on Sunday, extending the decline this year to about 18%. Aramco’s market value has slumped from a peak of over $2 trillion in December to about $1.5 trillion. Aramco executives are set to brief financial analysts of the results at 3 p.m. Saudi time on Monday.
The coronavirus’ blow to oil use has overwhelmed OPEC’s initial optimism for demand this year, with analysts now expecting a drop in consumption. The OPEC+ group’s failure on March 6 to agree on further cuts is only exacerbating a glut as buyers search for storage tanks and vessels.
“We have already taken steps to rationalize our planned 2020 capital spending,” Chief Executive Officer Amin Nasser said. Given the impact of the coronavirus pandemic on economic growth and demand, Aramco is adopting “a flexible approach to capital allocation,” he said.
Saudi Arabia, Russia and others intend to boost production once the current accord to lower output expires in March. The kingdom pledged to supply 25% more oil in April than it produced last month, and Wednesday ordered Aramco to boost output capacity by 1 million barrels a day.
Oil prices fell last year even as Saudi Arabia trimmed output as part of efforts between OPEC and other producers to rein in production. Drone and missile attacks on two of its biggest facilities in September temporarily slashed production by more than half, but didn’t cause a big surge in prices.
Aramco reiterated its plan to pay $75 billion in dividends this year. The company needs to balance its pledge to pay investors with spending on its upstream projects — maintaining oil production and expanding fields — and boosting its global refining and chemical operations — the downstream segment of the business.
“Aramco can restructure the strategy to concentrate more on the upstream expansion rather than downstream,” said Mazen Al-Sudairi, head of research at Al Rajhi Capital. “They can do it easily from their cash flow. But it might affect the money transfer to the government for one or two quarters.”
Brent crude averaged $64.12 a barrel in 2019 compared with $71.67 the previous year. Saudi production slipped to an average of 9.83 million barrels a day from 10.65 million in 2018, according to data compiled by Bloomberg. Aramco restored output to pre-attack levels by early October.
Aramco’s 2018 net of $111 billion made it by far the world’s most profitable company, exceeding the combined incomes of some of the world’s biggest companies including Apple Inc., Samsung Electronics Co. and Alphabet Inc.
Source:www.energynewsafrica.com
Tullow Oil Slashes Exploration Budget By 30%, Sets Up Committees To Deal With COVID 19
Africa focused oil and gas firm, Tullow Oil Plc has cut down its exploration budget for 2020 by 45 percent.
Tullow also slashed its capital expenditure (Capex) by 30 percent this year.
The firm hopes to spend US$350 this year as capex.
In a statement posted on its website, Tullow announced that it has appointed Amalia Olivera-Riley, formerly of Repsol and ExxonMobil, as its new Exploration Director following the resignation of Angus McCoss in December last year.
According to the firm, recruitment of a new CEO is well under way with a final short-list being considered by the Board.
The group has also revised its full year production target to between 70,000 and 80,000 bopd.
Touching on the COVID-19 outbreak, the firm said it has experience in managing infectious diseases of this nature following the significant contingency plans put in place during the West African Ebola outbreak in 2015.
Tullow said it actively monitors advice from the World Health Organisation and Public Health England, as well as participates in weekly calls with the International Oil and Gas Producers’ Health Committee relating to the COVID-19 outbreak to ensure best practice precautions are being applied.
“In both Ghana and Kenya, Tullow’s in-country teams have set up their EID (Emerging Infectious Disease) Management committees in response to the current COVID-19 outbreak. These EID committees steer the local management response to the outbreak, including ensuring that our contractors have implemented appropriate measures. We have also implemented ‘self-declaration’ forms for all personnel travelling to our offshore assets in Ghana, that require people to sign-off that they have not been to the ‘specified locations’ as defined by the UK Foreign & Commonwealth Office in the last 30 days, as well as implementing business travel restrictions to and from these ‘specified locations’.
“In the event that the COVID-19 outbreak escalates, the country specific Business Continuity Plans set out how Tullow will continue to operate, recover quickly from, and effectively manage the response,” it said.
Source: www.energynewsafrica.com
Ghana: Accra, Eastern, Others Experiences Black Out
Reports reaching energynewsafrica.com indicate that several areas in the Republic of Ghana, West Africa, are experiencing black out.
Comments on social media platforms indicate that parts of the capital Accra, are in darkness, with the Eastern, Volta, Northern and Upper East Regions also experiencing same.
Here are some of the social media comments we monitored:
In a car at Amasaman-Pokuase and the area is also off.
And let me add Kpone and Industrial Area too is ‘tuuuuummm’, to wit total darkness.
West Hill Mall area and parts of Northern Region too
Same in Wa, more like disco
Eastern region light off
Energynewsafrica.com sources within the Ghana Grid Company (GRIDCo) indicate that there has been system disturbances hence the outages.
The sources explained that engineers are busily working on the systems to restore power to the affected areas.
Source:www.energynewsafrica.com
Coronavirus: 2020 Offshore Technology Conference In Houston Postponed
Event organisers of the largest global oil an gas programme, Offshore Technology Conference (OTC) have postponed this year’s conference which was slated from May 4-7.
According to the organisers, they are working to confirm new dates for the event in August or September this year.
In a statement the organisers said they recognizes the unprecedented global challenge associated with the current COVID-19 pandemic.
“The health and safety of our partners, attendees, exhibitors, staff, and community are of the utmost importance, and our hearts go out to all who have been affected.”
“Considering the rapidly changing guidance from governments and companies, OTC has chosen to postpone the conference from 4–7 May to the third quarter of 2020. We are actively working to confirm dates in August or September,”
The statement said in the coming weeks, OTC will be communicating with authors, speakers, exhibitors, and partners to develop the new plans and ensure the conference continues to provide a platform for energy professionals to meet and exchange ideas.
Since 1969, OTC has been a reliable source of technology and knowledge sharing to propel the offshore industry forward.
The conference has also been a key economic driver for the city of Houston and neighboring communities.
“By postponing rather than canceling OTC, we aim to preserve the significant work of the program committee and authors to prepare for this conference, as well as minimize the economic impact this decision has on businesses in Houston and throughout the industry,” the statement said.
Source: www.energynewsafrica.com
Liberia: Power Outages: President Weah Orders LEC To Submit Power Distribution Plan
President of Liberia, H.E. George Manneh Oppong Weah has directed the management of Liberia Electricity Corporation (LEC) to submit to his office its power distribution plans.
The directive follows constant wave of power outages which is making life unbearable to many electricity users in the West African nation.
President Weah is now demanding efficiency and productivity.
Deputy Press Secretary, Smith Toby, has told journalists that the President was concerned about the unfortunate situation of consistent wave of power outage in Monrovia and its environs.
”The President has some very serious concerns with LEC. Like most of you are concerned about LEC, so is the President,” Toby said during the Executive Mansion Press Briefing Tuesday. “The President has given the management of LEC up to this month to submit to him the requested power distribution plan.”
The Deputy Press Secretary indicated that the President was taking the situation seriously because, in his words, “the way the LEC is supplying current shows that there is not a structured plan.”
Residents of Monrovia and its environs are plagued with the troubling inconsistent power supply, a situation that has now become a national embarrassment.
Mr. Toby explained that the President was not taking the situation lightly, as would he not hesitate to act in order to arrest the situation in the interest of beneficiaries.
“The President himself is a user of LEC, and so he is concerned,” he said. “Against this backdrop, he wants the plans as to how they are distributing or supplying current to communities.”
Toby disclosed that President Weah called on the LEC management and its partners to ensure proper supply or distribution of electricity, as he (the President) would no longer take excuses for what appears to be poor performance on the part of the Management.