The Executive Director for Institute of Energy Security (IES), an energy think-tank in the Republic of Ghana, has been enstooled as the chief of Ekumfi Abor, near Mankessim in the Central Region of Ghana.
Paa Kwasi Anamua Sakyi, also known as Joshua Anaman Sackey will also be the Ankobiahene of the Ekumfi Traditional Council.
He is currently the General Manager in charge of Shipping Logistics at Convenio Energy, an Oil Trading Firm with headquarters in Mauritius.
Paa Kwasi Anamua Sakyi(second from left).
Mr Anamua Sakyi, who is a former staff of Bulk Oil Storage and Transportation (BOST) Company Limited has over 23 years of experience in the technical and management areas of Oil and Gas Management, Banking and Finance and Mechanical Engineering.
He had worked in both the gold mining and oil sectors.
He is currently working as an oil trader, consultant, and policy analyst in the global energy sector.
He serves as a resource to many global energy research firms, including Argus Media and CNBC Africa.Source:www.energynewsafrica.com
The Chief Coordinating Officer of Petro Trade Group, one of the leading players in the petroleum industry in the Republic of Liberia, is calling for drastic action against those who have abused the much-talk-about provisional lifting method, and a total review of the exercise itself.
The call follows acute shortages of petroleum product (gasoline) which has struck the already economically ailing West African nation.
According to Abraham Kaydea, amidst all of the reasons, excuses and/or justifications being given for the excruciating shortage of gasoline, the major cause of the problem is the gross abuse of the provisional lifting exercise.
Provisional lifting is a practice under which the, Liberia Petroleum Refinery Company (LPRC) would allow one petroleum importer to take the product of another importer with the understanding that the borrower will replace the product in time enough upon the arrival of his own product, a strategy which was designed with good intent to keep the market open and running but has backfired due to either the inability or callous refusal of some seemingly reckless companies to replace petroleum products they took and sold under the provisional lifting program.
Mr. Kaydea maintained that dredging of the Freeport and few other technicalities account for only a small portion of the shortage but the abuse of the provisional lifting by these delinquent companies or individuals who have failed or refused to pay back product given to them is the major cause of the problem.
Kaydea is therefore calling for the suspension and revocation of licenses as well as the prosecution of those whose’ willful actions or inactions led to the gasoline shortage which seriously affected the business of others and pushed the nation to the brink of economic collapse and chaos.
The Petro Trade boss called on President Weah to attach serious importance to the matter and personally ensure that the LPRC and other relevant state authorities review and/or cancel the provisional lifting exercise and that those who have deliberately defaulted be prosecuted for causing huge financial losses to other importers and the government and putting the country on the edge of economic instability.
He disclosed that his (Petro Trade) filling stations were selling 3000 to 5000 gallons a day but the shortage caused them to sell 1000 to 1500 gallons a day.
The tactical reduction in daily sale, he said, was a strategy to remain on the market and serve the public while efforts were being exerted to remedy the situation.
“We do that to manage the product and keep serving our people amidst the crisis caused by the shortage”.
Mr. Kaydea further revealed that the abuse of the provisional lifting framework did not start with the current administration (Weah-Government), but began in the previous regime up to about 68%, and continues in the current regime.
The Petro Trade chief has, however, advised government against the idea of instituting a petroleum product reserve, saying, “the idea is not necessary for now”.
He gave no details about his advice to government but promised to do so appropriately through the relevant government entities and functionaries
Source:www.energynewsafrica.com
South Sudan’s Ministry of Petroleum has released its seventh Petroleum Report which provides an overview of world oil markets and fundamentals, price forecasts, oilfield reserves, and the ministry’s marketing performance.
The report forms part of continued efforts by the ministry to promote openness and accountability in this crucial sector.
“We are trying to increase transparency in the country’s oil and gas sector, specifically concerning the financial aspects. The Ministry of Petroleum has produced this journal which will provide all the information about our production, sales, and even the environment. We include all the opportunities in South Sudan regarding refineries, pipelines and other facilities. All this information is now available, and everyone will have access to it,’’ Hon. Eng. Awow Daniel Chuang, the Minister of Petroleum said.
The report outlines the ministry’s infrastructure plans, including refineries and storage depots and provides insight into how the country has advanced its sales of crude oil on the open market.
South Sudan recognizes that the sector needs to continue to develop with buyer and market diversification, and a better understanding of global economics and pricing analysis.
The ministry is aiming to establish on-line communications with global oil markets and the main world crude oil pricing center, Platts in London.
The release of the report follows closely the announcement of the country’s first environmental audit of all operating oilfields.
This will assist in rehabilitation efforts and prevent future problems. The ministry’s exploration and production department is at the same time engaged in promoting new blocks ready for international investors looking for lucrative opportunities.
The aim of this one, and future Marketing Reports is to provide comprehensive information which clearly explains the monetization of South Sudan’ crude oil.
The emphasis is on transparency and full compliance with the country’s legislative requirements for information disclosure.
The Petroleum Ministry has also improved its website, https://www.MOP-RSS.org/ which contains detailed information about the current oil-producing blocks, as well as the day to day operation of the department.
All the information that investors may need is now available, including all the financial information dating from 2011, the country’s independence.
Source:www.energynewsafrica.com
Norwegian oil and gas firm, Aker Energy has entered into a Letter of Intent (LOI) with Yinson Holdings Berhad, Malaysia-based oil services provider for the provision of a Floating Production, Storage and Offloading vessel (FPSO) for the Pecan development project at the Deepwater Tano/Cape Three Points, offshore Republic of Ghana.
Aker Energy announced this in a statement posted on the company’s website.
The LOI follows a competitive tender and demonstrates Aker Energy’s intention to award the forthcoming bare-boat charter and operations and maintenance contract for the FPSO for the planned development of the Pecan field in the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana.
The contracts will have a firm duration of ten years followed by five yearly extension options exercisable by Aker Energy as operator on behalf of the license partners Lukoil, Fueltrade and Ghana National Petroleum Corporation (GNPC).
Once developed and installed, the FPSO will be located over and connect to the state-of-the-art subsea production system located at approximately 2,400 meters below sea level.
Together, this will form the fourth installation to produce oil and gas resources offshore Ghana.
The FPSO will be Yinson’s second vessel to operate in Ghanaian waters, with the first being FPSO John Agyekum Kufuor, operating for ENI since 2017.
Commenting on the award CEO of Aker Energy, Mr. Svein Jakob Liknes, said: “We are continuing with our preparations for the Pecan project and awarding an LOI for the future contracts for the FPSO vessel is certainly a key milestone.”
“As one of the world’s leading FPSO providers, we have a strong belief in Yinson’s ability to deliver on time, at the required quality, and to the highest safety standard,” he added.
“We look forward to partner with Yinson to make the Pecan project a reality – to the mutual benefit of the people of Ghana, Aker Energy and our partners. Once in operation, the project will bring significant revenues to the country as well as direct and indirect job opportunities for indigenous companies and individuals,” Mrs. Kadijah Amoah, Country Director of Aker Energy in Ghana also remarked.
Yinson Group Chief Executive Officer (CEO) Lim Chern Yuan said this was the group’s second large project award in the last six months.
“We are gearing up for even greater growth ahead. In line with this, we have been building our resources, capacity and expertise; putting us in a strong position to meet our commitments to the projects that we have undertaken,” he said.
Meanwhile, Yinson CEO for production, Eirik Barclay added that the Yinson team is greatly looking forward to working with Aker Energy on this exciting and challenging project in over 2,400 metres of water depth.
“We are confident in our ability to deliver the FPSO to the Pecan field on schedule,” said Barclay.
Yinson said the contracts are expected to contribute positively to its earnings.
Source: www.energynewsafrica.com
As Senegal’s first oil and gas projects are under-development and first production is expected within two years, the African Energy Chamber has paid a working visit to Dakar to promote investment into the country and support local content development and capacity building.
Led by Executive Chairman NJ Ayuk, the African Energy Chamber’s delegation advocated for local content as a pillar of the industry’s sustainability efforts and offered all its support to continue pushing and financing Senegal’s initiatives to build capacity and build a new generation of Senegalese oil & gas workers and managers.
“Oil companies have an unmatched ability, and a profound responsibility, to support H.E. Macky Sall’s bold vision in shaping an economy that works for all Senegalese and preserves their freedoms,” NJ Ayuk said.
The team met with H.E. Macky Sall, President of the Republic of Senegal; H.E. Mouhamadou Makhtar Cissé, Minister of Petroleum and Energies, Ousmane Ndiaye, Permanent Secretary of COS-Petrogaz; Aguibou Ba, Director General of the National Institute for Petroleum and Gaz (INPG) and the majority of the oil and gas operators and service companies.
“Moving closer and closer to becoming a large-scale producer of oil and gas, Senegal’s story is an inspiring one. And, as a hotspot for oil and gas development, it is only fitting that the nation cements market-driven local content frameworks that are rooted in capacity building and are driven by the determination to transform practices in its energy sector,” declared Nj Ayuk.
“That is why initiatives such as the INPG are important in ensuring that industry revenue benefits the state while also guaranteeing employment for citizens. The INPG is a true social contract bringing the private and public sector together to plan for a prosperous future for Senegal,” he added.
The Chamber’s working visit coincided with that of US Secretary of State Mike Pompeo, during which state-owned SENELEC and GE signed an agreement for the development of 300MW of gas-to-power capacity, the modernization of Senegal’s power plants and the creation of a maintenance centre in Senegal.
In line with the US’ interests to increase cooperation with Africa, the Chamber reiterated the industry’s call for continued improvements in the ease of doing business and better operating environments for foreign investors.
“President Trump dispatching Secretary of State Pompeo and US companies to Senegal is a brilliant move. US companies understand that investing in Senegal is good business and a sustainable corporate strategy. President Macky Sall’s government has built on positive trends to maximize foreign investments. This includes a commitment to transparency, improving safety and security, strengthening the macroeconomic environment, investing in quality education and skill development in science, technology and innovation, and avoiding the Dutch disease,” Ayuk added.
Last year, the African Energy Chamber and Centurion Law Group hosted a local content forum in Senegal, calling attention to local content development in the country.
The visit serves as a follow up and a showcase of the Chamber’s continued commitment to the growth and development of African economies through ensuring that Africa’s natural resources benefit Africa’s people first.
“Senegal’s emergence as a key player in the oil and gas industry has been remarkable and, as this growth continues to surge, it is important that local communities have a seat at the table. It is also important that we continue to create an enabling environment for investors and the oil sector. Cutting unnecessary red tape and fast-tracking project approvals will give the energy operators a boost,” said NJ Ayuk.
“This, however, is a goal that is achievable only through the collaboration of the private and public sector. Local content is value creation and it is pertinent that Senegal put in place policies and frameworks that will see its people benefit from the hydrocarbon industry,” he added.
Source:www.energynewsafrica.com
The Chairman of the Nigerian Electricity Regulatory Commission (NERC) Prof. James A. Momoh has been elected a member of the National Academy of Engineering (NAE), Washington D.C. USA.
This is in recognition of his contributions in the field of Engineering, a release posted on NERC said.
A congratulatory letter signed by the Home Secretary and member of the Academy, Julia Philips dated February 5, 2020, stated that the award was conferred in recognition of his distinguished contributions to engineering “For the development of the electric grid optimization technique and implementation of advanced, technology and policy for engineering electric grids in Africa.”
The election to NAE is coming on the heels of the just-ended three-day International Conference on Energy and Power Systems Operation and Planning (ICEPSOP) which was held in Abuja under the coordination of Prof. Momoh with the theme, ‘’Empowering Micro-Grid with Smart Grid Attributes Development in the United States and Africa.”
Prof. James Momoh was inspired to organize the conference over the years due to lack of access to modern technology in Africa, vacuum in knowledge transfer and the need for a research-based solution to the challenges of increasing energy/power access to Africa through smart –grid technology and innovation.
Prof James A. Momoh, by this election, is joining a very select group of National and International peers to (NAE), the US and the global community through engineering expertise and leadership.
The induction ceremony will be held on Sunday, 4th October 2020 in Washington DC, United States.
The National Academy of Engineering is a foremost Academy for distinguished engineering scholars and researchers in the USA. Prof. Momoh is the only Nigerian in sub- Saharan Africa so elected in 2020.
Source:www.energynewsafrica.com
The Nigerian National Petroleum Corporation (NNPC) has revealed that the West African nation lost about $750 million to oil theft in 2019.
The amount is about N230 billion at the official CBN exchange rate of N306 to $1.
NNPC’s Group Managing Director, Mallam Mele Kyari, made the revelation in a presentation to members of the Executive Intelligence Management Course 13 of the National Institute for Security Studies (NISS) who visited the NNPC Towers in Abuja, on a study tour.
In a statement signed by Samson Makoji, acting spokesman of the NNPC, it said the GMD decried the growing activities of oil thieves and pirates which he described as a threat to the operations of the corporation.Kyari stated that any threat to the corporation’s operations was a direct threat to the very survival of Nigeria as a nation because of the strategic role of the corporation as an enabler of the economy.He listed other security challenges facing the corporation to include vandalism of oil and gas infrastructure and kidnapping of personnel, adding that there was a deep connection between the various shades of insecurity challenges as they are all linked to what was happening in the Gulf of Guinea and the entire maritime environment.
He called for a concerted effort and synergy to secure oil and gas operations for the economic survival of the country.
In his presentation, NNPC Chief Operating Officer in charge of petroleum downstream, Engr. Yemi Adetunji, said in 2016, the Gulf of Guinea accounted for more than half of the global kidnappings for ransom, with 34 seafarers kidnapped out of 62 cases worldwide.
He said the corporation was working closely with security agencies to tackle the security challenges, and cited the “Operation Kurombe” that was recently conducted by the Nigerian Navy at the Atlas Cove as an example of such collaborative efforts.
Source: www.energynewsafrica.com
Oil trader Trafigura has announced that it will soon disentangle itself from the sanctioned Russian company, Rosneft Trading by mid-May to avoid running afoul of US sanctions itself, oilprice.com reports.
“Trafigura is aware of the addition by the US authorities of certain Rosneft entities to the Venezuela related designations and the associated general license. Trafigura complies with all applicable sanctions and will comply with the requirements of these latest rules within the wind-down timeline that has been set by the general license,” a Trafigura spokesman said.
Trafigura is unlikely to be the only company leery of doing business with Rosneft Trading, and more pain may be in store for the company that stands accused of allowing Venezuela’s oil trade continue despite the United States’ ongoing maximum pressure campaign designed to force Nicolas Maduro to step down. Rosneft Trading’s support of PDVSA and Maduro is, according to the United States, part of the reason that Maduro has been able to cling to power for so long.
Tuesday’s sanctions block all US assets of Rosneft Trading, and extend to anyone doing business with Rosneft Trading, but do allow for a 90-day wind down period for companies currently doing business with Rosneft Trading.
The United States was considering sanctions on Rosneft back in September, after July and August showed Rosneft to be the largest marketer and buyer of Venezuelan oil, which it then sold onto China and India, helping them to avoid sanctions.
In June last year, Rosneft Trading was responsible for shipping 100% of all the gasoline that Venezuela imported that month through ship-to-ship transfers totaling 1.7million barrels.
And in July, according to Refinitiv Eikon data, Rosneft Trading took 40% of PDVSA’s oil exports, while Vitol and Trafigura had stopped handling Venezuelan crude.
Source: www.energynewsafrica.com
Sunon Asogli Power Ghana Limited, the largest independent power producer in the Republic of Ghana, West Africa, is reeling under financial distress due to the government’s inability to pay for power supplied to the country’s power distribution company, ECG.
The West African nation owes members of the Chamber of Independent Power Producers, Bulk Distributors and Consumers (CiPDiB) a whopping GHc1.3 billion.
Asogli, which is a member of the IPP chambers, is worried about the development, which it says is hindering its progress.
Speaking in an exclusive interview with energynewsafrica.com, Chairman of Sunon Asogli Power Ghana Ltd, Mr Yang Qun could not quote the exact figure but said the amount is huge.
According to him, the lack of funds was affecting their infrastructural development.
“Definitely, we are at the brink of our efforts because there is no cash flow. Cash flow chain could and obligating the banks and salary pay roll. That is why we are very close to the cash flow problem. But it could break anytime soon.”
Despite facing financial challenges, he said the company increased its power generating capacity by 33 percent last year to up its power operation from 200MW to 360MW.
This, Mr Yang said brings their power generating capacity in the country to 560MW.
“It increased about 33 percent last year. So production is good, however, we are still facing some challenges. The big challenge remains cash problem. Everybody knows about that. We are trying and working with the government, the Ministry of Finance, Ministry of Energy trying to help us with cash flow problems,” he said.
Going foward, Mr Yang said Ghana was a healthy and a fertile business environment for power production and urged the government to swiftly help them to do well.
“We will continue pressing…we think Ghana is a good country for investment, so we are still interested in Ghana. I believe the cash flow problem will be resolved in a short time with an effort from the government.”
Source:www.energynewsafrica.com
A former Group Chief Executive Officer and Managing Director of Ghana’s leading oil marketing company, GOIL, Patrick Akorli believes it’s about time the West African nation abolished all subsidies on all petroleum products.
He said the illegal activities by some players in the downstream sector make it difficult for actual consumers to benefit from the subsidies.
In his view, the government should allow consumers to pay for the right price of fuel and rather channel the subsidies into development projects to benefit the masses.
Mr Akorli said this at the launch of Petroleum Downstream Product Marking Scheme Phase II in Accra, capital of Ghana
“Today, premix is being sold at Ghc1.50 pesewas whereas the right price should have been GHc5.00. There are too much incentives for people to do the wrong thing, so why don’t you take the subsidies away and use that thing to do things that benefit the people?” he said.
He tasked the National Petroleum Authority (NPA) to ensure that subsidies are removed to safeguard the interest of consumers.
It would be recalled that the former Finance Minister, Seth Terkper warned the Akufo-Addo administration over the risk of huge subsidy debts and its potential to hurt the economy and collapse the energy sector of the economy.
Source:www.energynewsafrica.com
Chief Executive of the Chamber of Bulk Oil Distributors (CBOD) in the Republic of Ghana, Senyo Hosi has tasked the National Petroleum Authority (NPA) to change their style of tackling illegal activities in the petroleum downstream sector.
In his view, the West African nation’s petroleum downstream regulator should declare ‘war’ on industry players engaged in illegal activities in the petroleum downstream sector instead of continuously saying that they are fighting them.
He wants NPA to be brute instead of being mild.
He said this at the launch of the Petroleum Downstream Marketing Scheme Phase II in Accra, the capital of Ghana.
According to Mr Hosi, between 2015 and 2017, Ghana lost a whopping Ghc 2.6 billion, a development he said is not good for a country like Ghana.
He lamented that such losses of cash could have been used to solve the numerous under developmental challenges in the country.
“So you can count on this board and its membership of delivery of this entire technology and the war that we are all seeking to achieve. There are three things this is doing: they deal with all the key stakeholders in the petroleum sector,” he said.
Mr Hosi agreed to sanitising the industry to actually deliver quality assurance interventions for the stakeholders holders, for which they are all part.
“The problems we have in this industry come from us. If we can be naming and shaming and stop covering our own colleagues, it will help us all in the long run,” he stressed.
Source: www.energynewsafrica.com
The Chief Executive Officer of the National Petroleum Authority (NPA) says his outfit is investigating eight Bulk Road Vehicles (BRVs) that loaded products for export but ended up going to Kpone, near Tema, to offer the product for sale.
Hassan Tampuli disclosed this at the launch of the Petroleum Product Marking Scheme (PPMS) Phase II on Tuesday, February 19, 2020.
“We’re currently investigating eight trucks that loaded for export but ended up at a depot. You loaded to Niger and you ended up at Kpone and started calling OMCs we also feigned interest and got them,” he said mincing to mention the culprits.
According to him, his outfit would continue to pursue those who are engaging in illegalities in the sector.
He noted that petroleum products consumption statistics has shown that collaborative efforts by the NPA, National Security and other security agencies have helped to drastically reduce the menace of supply leakages such as export dumping in the country.
“National consumption of petroleum products, which saw a 6 percent decline in 2016, increased by a percentage in 2017 and recorded a 16 percent increase in 2018 due to intensified measures put in place to curb the menace.
“The Chamber of Bulk Oil Distributing Companies’ (CBODs) 2018 industry report clearly stated that the marker concentration failure rates of 4.9 percent recorded in 2017, also fell to 1.24 percent, thereby, indicating lower levels of product dumping at the retail stations,” Mr Tampuli averred.The NPA CEO explained that the fuel marking programme, which was introduced in 2012, empowered the NPA to identify and legally deal with participants in the illicit trade of the retail chain of the petroleum downstream sector.
”All these were as a result of sustained government policy to deal with the malpractices in the petroleum downstream sector. This will recoup the government’s revenue which is being lost through diversion of subsided petroleum products,” he said.
The PPMS entered a new phase of the programme on April 1, 2019. Nationwide Technologies Limited (NTL) has been contracted to undertake the fuel marking activities in Ghana with Authentix Inc. as a sub-contractor.
Mr Tampuli said the phase II of the PPMS is anchored on technological advancements in the markers, as well as the detection proprietary equipment.The marker has been uniquely designed for the Ghanaian market with a chemical composition to aid in immediate equipment quantification and detection to enable the NPA make swift decisions on whether retail outlets have dumped or adulterated the petroleum products being offered for sale at retail outlets across the country.
Phase II of the PPMS will see the NPA improve upon the following: sustained successful marking and field monitoring of marked petroleum products; reduction in the retail outlet failure rate, which is indicative of the decrease in the malpractices in the distribution and sale of petroleum products; improvement in stakeholder awareness in furtherance of the NPA’s medium term strategy; significant reduction in the fuel tax revenue loss and subsidy abuse; and improved quality of products at the retail outlets for consumers of petroleum products.
Deputy Minister for Energy in-charge of Petroleum, Dr Amin Adam, who was at the event congratulated the NPA for their continuous effort to clean up the petroleum downstream sector.
He also encouraged the NPA not to rest on their oars because there is more to be done and achieved in the petroleum industry.
The Chief of Staff of Ghana Madam Akosua Frema- Osei Opare said “fuel adulteration is a worldwide problem which needs stringent measures to arrest and defeat it.”
She said fuel adulteration has dire consequences on the revenue projection of government since those who engage in the illicit trade fail to pay the needed taxes.
She was therefore hopeful that this new phase two of the PPMS will block the revenue leakages and help the government raise the needed revenue to carry out other developmental projects.
“I am very confident that this program will help Ghanaian consumers realize that they are getting value for money,” she concluded.
Industry coordinator and chairman of the Association of Oil Marketing Companies, Kwaku Agyemang Duah underscored the need for the regulator to be consistent in its fight against illicit trading in the petroleum downstream sector.
He called on the authority to ensure the development of a fair and consistent policy that is enforceable.Source: energynewsafrica.com
The Electricity Company of Ghana (ECG), is in the process of employing the use of Artificial Intelligence and Remote Sensors across its systems to fight the canker of power theft, Dr. Mahamudu Bawumia, Vice President of the Republic of Ghana has revealed.
Speaking at the launch of a mobile application for ECG customers on Tuesday, Vice President Bawumia indicated that difficulties in collecting payment for power supplied and eliminating power theft were major challenges confronting ECG, therefore, the use of Artificial Intelligence would be a major game-changer.
“The issue of solving the collection problem at ECG is a major part of solving the energy issue in Ghana. I think this app also enhances collection, but I am aware- because I have been talking to the Board Chairman and the MD– that they are thinking about applying technology, artificial intelligence and remote sensors in the collection process.
“I know that they are piloting the system now, and by the grace of God if all goes well, we will have implemented a new system, starting this year, whereby nobody will be able to steal electricity in Ghana again.
“It is a major thing that the ECG is likely to implement this year, using artificial intelligence and remote sensing. They are piloting it right now, and the results look quite good. Once we solve that problem, the issue of losses from people doing ‘kuluulu’ connections of electricity will be a thing of the past,” Dr Bawumia said.
The new mobile app, known as the ‘ECG Power’ was designed in-house by the ICT staff of the ECG.
It is expected that the 2.8 million out of the ECG’s 3.8 million customer base to make payments for power purchased and services rendered by the utility services provider.
Source:www.energynewsafrica.com
The Dubai Electricity and Water Authority (DEWA) is implementing the Mohammed bin Rashid Al Maktoum Solar Park, which enhances the sustainable development of Dubai and supports the Dubai Clean Energy Strategy 2050.
DEWA intends to make Dubai a global hub for clean energy and green economy.
The strategy aims to provide 75% of Dubai’s total power output from clean energy by 2050.
The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world based on the Independent Power Producer (IPP) model.
It has a planned production capacity of 5,000 MW by 2030, with investments totaling AED 50 billion.
When completed, it will save over 6.5 million tonnes of carbon emissions annually.
The solar park also houses an Innovation Centre, a Research and Development (R&D) Centre and a 3d-printed lab.
Source:www.energynewsafrica.com 
Yinson Group Chief Executive Officer (CEO) Lim Chern Yuan said this was the group’s second large project award in the last six months.
“We are gearing up for even greater growth ahead. In line with this, we have been building our resources, capacity and expertise; putting us in a strong position to meet our commitments to the projects that we have undertaken,” he said.
Meanwhile, Yinson CEO for production, Eirik Barclay added that the Yinson team is greatly looking forward to working with Aker Energy on this exciting and challenging project in over 2,400 metres of water depth.
“We are confident in our ability to deliver the FPSO to the Pecan field on schedule,” said Barclay.
Yinson said the contracts are expected to contribute positively to its earnings.
Source: www.energynewsafrica.com 
The NPA CEO explained that the fuel marking programme, which was introduced in 2012, empowered the NPA to identify and legally deal with participants in the illicit trade of the retail chain of the petroleum downstream sector.
”All these were as a result of sustained government policy to deal with the malpractices in the petroleum downstream sector. This will recoup the government’s revenue which is being lost through diversion of subsided petroleum products,” he said.
The PPMS entered a new phase of the programme on April 1, 2019. Nationwide Technologies Limited (NTL) has been contracted to undertake the fuel marking activities in Ghana with Authentix Inc. as a sub-contractor.
Mr Tampuli said the phase II of the PPMS is anchored on technological advancements in the markers, as well as the detection proprietary equipment.
The marker has been uniquely designed for the Ghanaian market with a chemical composition to aid in immediate equipment quantification and detection to enable the NPA make swift decisions on whether retail outlets have dumped or adulterated the petroleum products being offered for sale at retail outlets across the country.
Phase II of the PPMS will see the NPA improve upon the following: sustained successful marking and field monitoring of marked petroleum products; reduction in the retail outlet failure rate, which is indicative of the decrease in the malpractices in the distribution and sale of petroleum products; improvement in stakeholder awareness in furtherance of the NPA’s medium term strategy; significant reduction in the fuel tax revenue loss and subsidy abuse; and improved quality of products at the retail outlets for consumers of petroleum products.
Deputy Minister for Energy in-charge of Petroleum, Dr Amin Adam, who was at the event congratulated the NPA for their continuous effort to clean up the petroleum downstream sector.
He also encouraged the NPA not to rest on their oars because there is more to be done and achieved in the petroleum industry.
The Chief of Staff of Ghana Madam Akosua Frema- Osei Opare said “fuel adulteration is a worldwide problem which needs stringent measures to arrest and defeat it.”
She said fuel adulteration has dire consequences on the revenue projection of government since those who engage in the illicit trade fail to pay the needed taxes.
She was therefore hopeful that this new phase two of the PPMS will block the revenue leakages and help the government raise the needed revenue to carry out other developmental projects.
“I am very confident that this program will help Ghanaian consumers realize that they are getting value for money,” she concluded.
Industry coordinator and chairman of the Association of Oil Marketing Companies, Kwaku Agyemang Duah underscored the need for the regulator to be consistent in its fight against illicit trading in the petroleum downstream sector.
He called on the authority to ensure the development of a fair and consistent policy that is enforceable.
Source: energynewsafrica.com 
