Ghana: Asante Berko Never Bribed Parliamentarians To Pass Power Deal-Adams Mutawakilu

A Ranking Member of Mines and Energy Committee in Ghana’s Parliament, Adam Mutawakilu has rejected bribery and corruption allegations made against Members of Parliament in the approval of the AKSA Energy deal. The U.S. Securities and Exchange Commission earlier this week charged Mr. Berko, who is a former banker at Goldman Sachs Group Inc, for arranging at least $2.5 million in bribes to be paid to Ghana Government officials and MPs between 2015 and 2016. The alleged bribes were reportedly to help a Turkish company secure a power purchase agreement deal in Ghana back in 2015 amid the power crisis. Though there are no details yet on the nature of Mr. Berko’s engagement with Parliament, Mr. Mutawakilu has come out to say the Mines and Energy Committee had no direct dealings with the accused. “I want to state emphatically that nothing of that sort happened and Parliament never received anything with respect to performing our legitimate duties as to the passing of the power purchasing agreement. It wasn’t only his but we passed several agreements but there was no situation where there were any underhand dealings,” he told Accra- based Citi FM. Mr. Asante Berko on Wednesday, resigned as Managing Director of the state owned Tema Oil Refinery after issuing a statement denying the bribery allegation. “I state categorically that I have not paid any bribes to government officials, Members of Parliament nor any officials of Parliament. I have had no contact with Members of Parliament nor officials of Parliament, regarding the approval of this transaction,” Mr Asante Berko stated. The Damongo legislator also said it would be prudent for Parliament to wait on the case in the U.S to develop significantly. “Thankfully he himself has admitted that he never paid anything to Parliament or any other persons and now the matter is before a court and we expect the court to do its work while we monitor the outcome which will go further to indicate whether the Speaker will take as a matter of urgency,” the Ranking Member said.  

Ghana: Remove VAT, GETFUND, Other Levies To Make End User Electricity Affordable-CiPDiB CEO

The Chief Executive Officer of the Chamber of Independent Power Producers, Bulk Consumers and Distributors (CIPDiB), Ghana, Elikplim Kwabla Apetorgbor has called for the removal of what he described as inessential taxes which have contributed to high electricity tariffs in the West African nation. He mentioned them as GETFUND (2.5%), NHIL (2.5%), Value Added Tax (12.5%), Public Lighting – Street lighting (3%) and the National Electrification (2%). These levies and charges, he said do not only create inconvenience and burden to consumers but also weaken the capacity for growth as a nation and make distribution companies (discos) uncompetitive. “Complete removal of these taxes and a reduction in gas price will make Ghana’s position as one of the benchmarks in the sub-region and bring visible economic relief to the country,” he stressed in an article copied to energynewsafrica.com. Below is the full article  COVID-19 ECONOMIC RECOVERY STRATEGY: REMOVE LEVIES & CHARGES ON END USER ELECTRICITY TARIFFS  End User Electricity Tariff across the sub region has been a major concern and one of the capital reasons for the stagnated industry growth. This subject requires an objective and apolitical study of the cost of electricity generation, transmission and distribution in particular, by conducting an analysis of variance, and benchmarking the most competitive economies in the sub region or the world. Power distribution companies (ECG, NEDCo & EPC) procure power in bulk from generators (IPPS & VRA) through transmission service providers (GRIDCo) and deliver it to the consumers. Power is in most cases delivered to end users at the voltage at which it is usable, hence the Distribution Value Added. The power distributor provides metering, billing and information services to the consumers. Therefore, the End User Tariff = BGC + TSC + DSC or DAV. Where Bulk Generation Charge is the sum of capacity charge and average cost recovery price of power purchased by the Distribution Companies from the generators. Transmission Service Charge is the price charged by GRIDCo for use of the transmission network by the Distribution companies (Discos) and Bulk Customers. Distribution Service Charge is the price paid by consumers to the distributor (distribution value added) for the supply of electrical power. Presently, however, is the addition of about 22.5% statutory levies and charges to the End User Tariff. This add-ons contribute significantly to the expensive electricity tariff consumers’ talk about. These levies and charges do not only create inconvenience and burden to consumers, but it also weakens our capacity for growth as a nation and renders our distribution companies uncompetitive. These inessential taxes include GETFUND (2.5%), NHIL (2.5%), Value Added Tax (12.5%), Public Lighting – Street Lighting (3%) and National Electrification (2%). Complete removal of these taxes and a reduction in gas price will make Ghana’s position as one of the benchmarks in the sub-region and bring visible economic relief to the country. For us to see an evidence based industry growth, we must, as a necessity, remove the Maximum Demand Charge and Power Factor Surcharges from the tariff applicable to industries and bulk consumers. The effect should translate into drastic reduction in the cost of production, prices of goods and services and eventually trigger the utilization of any “idle capacity”. When by the Grace of God the country is out of the clutches of Covid-19 and begins efforts at revitalizing the economy, we must do so on the premise that industries require cheaper power for growth and job creation all of which translate into tax earnings for the country. After Covid-19, the country will require very strategic interventions and workable solutions to quickly bring the economy to a sound footing. It must not be business as usual. We cannot tax ourselves out of the downturn. We must rather engineer deliberate growth at a faster pace to quickly bring relief to our people. The actions we take will inform the volume of foreign direct investments we are able to attract. Our policies especially in the energy sector will determine how quickly we recover from this shock.       Source:www.energynewsafrica.com

Ghana: Boakye Agyarko Supports Combat Against Covid-19 In Manya Krobo Area

The former Minister for Energy in the Republic of Ghana, Boakye Agyarko has donated some personal protective equipment to the Upper Manya Krobo District Emergency Health Committee in the Eastern Region for onward distributions to hospitals in the area. The items include hand gloves, detergents and liquid soap. The former Energy Minister also donated thermometer guns to police officers at the various security check points to enable them check the temperatures of travellers into the area. The Upper Manya Krobo area is one of the areas in the Eastern Region that has recorded cases of the Coronavirus. According to a statement by the Ghana Health Service, 31 Indians working with AFCON, an Indian railway company working on the Tema-Akosombo railway project, were among those infected with the Coronavirus. Despite the severity of the outbreak of virus in the Manya Krobo area, health facilities in the area were incapacitated to attend to any of the COVID-19 patients, hence, the timely intervention of the former Energy Minister. When contacted, Mr Boakye Agyarko said he received information that the hospitals in the area needed help, thus, his decision to step in. Mr Boakye Agyarko called on residents in the area to observe social distancing and all the other COVID-19 protocols to stem the spread of the disease.         Source:www.energynewsafrica.com

Ghana: President To Cut Sod For Construction Of Infectious Diseases Treatment And Isolation Facility

The President of the Republic of Ghana, H.E. Nana Addo Dankwa Akufo-Addo is expected to cut sod for the construction of Infectious Diseases Treatment and Isolation Facility at Ga-East in the Greater Accra Region, capital of Ghana. The facility, which will be funded by the COVID-19 Private Sector Fund, is a contribution of the private sector towards the fight of the novel coronavirus pandemic which has wreck havoc on businesses in Ghana and across the globe. The COVID-19 Private Sector Fund is an initiative of the Chief Executive Officer of Chamber of Bulk Oil Storage and Distributors, Mr Senyo Hosi, Mr Anthony Oteng-Gyasi (Chairman, Tropical Cable & Conductor Ltd), Mr Edward Effah (Chairman, Fidelity Bank Ghana Ltd), Mr Kwaku Bediako (Director, CH Group), Mr John Taylor (CEO, Woodfield Energy Resources Ltd). The rest are Mr Omane Frimpong (Chairman, Wilkins Engineering Ltd), Mr Kwame Ofosu Bamfo (Managing Director, Bamson Group) Mr Kwabena Adjei (Group Chairman, Kasapreko), Mr Thomas Svanikier (Chairman, Svani Group Ltd) and Mr Kwasi Twum (CEO, The Multimedia Group). The West African nation has recorded 641 cases of coronavirus with eight deaths and eighty-three recoveries.  

Ghana: Three Months Free Electricity To Cost Gov’t GHC1 Billion

The Government of Ghana is to spend GH¢1 billion to cover free electricity to lifeline and commercial consumers for three months, energynewsafrica.com can report. The President of the West African nation, H.E. Nana Akufo-Addo, last week, announced that the government will fully bear the cost of electricity for lifeline consumers and also pay for 50 percent for commercial consumers for the months of March, May and June. The move, according to the President, was part of measures introduced to mitigate the impact of the Coronavirus on Ghanaians. Speaking at a press conference organised by the Information Ministry, Ghana’s Energy Minister, John-Peter Amewu said customers of Electricity Company of Ghana (ECG), Volta River Authority (VRA) and Northern Electricity Distribution Company (NEDCo) will be positively affected by the relief. He explained that lifeline customer in Ghana is one who uses one television set, two bulbs, a table top refrigerator and a fan for a limited number of hours. So any consumer with these appliances and uses them on daily basis is considered as a lifeline customer. ECG’s customer population of one million (calculated in terms of metres) means that “at the current tariff level, the government is absorbing almost an amount of ₵8.5 million per month. For non-lifeline customers of which 2,780,886 are residential and 1,608 are special low tariff customers, a 50 percent discount on their electricity bill will translate to ₵235. 4 million per month. “The total relief for ECG customers per month based on the estimated revenue is, therefore, ₵244 million, translating into ₵732 million for the three months,” Mr Amewu detailed. The relief for all NEDCo customers, on the other hand, translates to about ₵47 million per month, totalling ₵141 million for the three-month period. “This comprises a relief of about ₵10.9 million per month or ₵32.9 million for three months for a population of 5,069 life customers.” For NEDCo’s non-life customers, who make 60.67 percent of its population, the government will be paying ₵36 million per month or ₵108 million for the three months. The government is providing a total relief of ₵55.5 million per month for customers of the VRA. This figure translates to ₵166.4 million for three months. “The VRA relief comprises 12 mining customers at ₵42.4 million per month or a total of ₵127.2 million for three months and a ₵4.8 million monthly relief totaling ₵14.4 million for the Volta Aluminum Company (VALCO),” Mr Amewu said. He added that the bill for other manufacturing customers like Aluworks, Diamond Cement, Savanna Cement, Enclave Power Limited stands at ₵7.9 million per month, totalling ₵23.7 million for the three-month period. “Overall, the government is providing a cumulative relief of an amount equivalent of one billion cedis, approximately covering a customer population of about 4.8 million metres across Ghana for the three month period,” he said.             Source: www.energynewsafrica.com

Ghana: Ghana Energy Awards Commends President Akufo-Addo For Announcing Free Electricity For Ghanaians

The organiser’s of Ghana Energy Awards (GEA), a private sector organisation, has commended the President of the Republic of Ghana Nana Akufo-Addo, for announcing free electricity for lifeline consumers. President Akufo-Addo, last week, announced free electricity for lifeline consumers, as well as 50 percent rebate of electricity cost for commercial consumers. The initiative is part of measures introduced by the government to minimise the impact of COVID-19 on Ghanaians. In a statement copied to energynewsafrica.com, the GEA noted that “amongst some notable interventions to alleviate the economic burden on the citizenry are the three-month absorption of water bills, full absorption of electricity bills for all lifeline consumers and the fifty percent absorption of electricity bills for both residential and commercial consumers. “The GEA commends the government for these initiatives, which will go a long way to help ease the hardships being faced by the ordinary Ghanaian during this period. Indeed, the country has risen to the occasion and our prestigious flag is being hoisted high,” the statement said. The GEA also used the opportunity to appeal to energy sector players in Ghana to join the government in the fight against the spread of the Coronavirus and its impact on economic and social life. “As has been observed, once a sector is affected, the rippling effect on other sectors is predictable. To complement ongoing initiatives, therefore, we encourage the sector’s stakeholders to support affected communities through various preventive efforts, as well as provision of support and relief items to persons within their areas of operation.” The Ghana Energy Awards further commended various industry players and other private organisations for their generous donations to the COVID-19 Fund set up by the President. GEA also commended frontline workers and those directly involved in the fight against COVID-19. “We urge all stakeholders to keep safe and trust that as a nation, we will emerge out of this pandemic. We further implore all and sundry to adhere to the precautions spelt out by the President and the health authorities while supporting and being each other’s keeper,” the statement concluded.         Source: www.energynewsafrica.com

Kenya: Jared Othieno Appointed CEO Of Geothermal Development Company

Kenya’s Geothermal Development Company (GDC) has appointed Jared Othieno as its new Managing Director and Chief Executive Officer. The appointment, which takes effect on April 19 will see Othieno head GDC for three years, replacing the outgoing managing director Johnson Ole Nchoe, who has served GDC in that position for a period of four years. “On behalf of the board and management of GDC, I wish to congratulate Eng Othieno on his appointment and wish him success in the new role,” GDC Chairman John Njiraini said in a statement. Njiraini continued: “I also wish to thank Eng Peterson P. Ole Nchoe for his service to GDC and particularly for the achievement attained during his tenure.” Othieno, who holds a Bachelor’s Degree in Electrical Engineering and Master’s Degree in Business Administration from the University of Nairobi, was elected from an initial field of 64 applicants. He has served in various roles at Kenya Power & Lighting Company, where he began his career rising to become acting managing director, a position he held for 15 months between July 2018 to October 2019.       Source: www.energynewsafrica.com

Nigeria: Rural Electrification Agency Connects COVID-19 Treatment Centres With Solar Power

Nigeria’s Rural Electrification Agency (REA) has handed over two completed solar hybrid mini-grids to health care facilities in Abuja and Lagos. The projects include a 53.1kWp solar hybrid mini-grid installed at the University of Abuja Teaching Hospital COVID-19 Isolation Centre, 25kWp solar hybrid mini-grid at Nigeria Centre for Disease Control (NCDC) Public Health Laboratory in Lagos. Two others that are yet to be handed are a 20kWp solar hybrid mini-grid at the 128 Bed Ikenne Isolation Centre, and the 10kWp solar-hybrid mini-grid at the 100 Bed Iberekodo isolation Centre in Ogun state. “This initiative is being implemented by the Agency to complement the efforts of the federal and state governments as well as the private sector in containing the spread of the COVID-19 virus in the country,” REA said in a statement. “Implementing these projects will provide clean, safe and reliable electricity to enable our health workers thrive towards the fight against this COVID-19 disease,” the statement added. This is following the outlined intervention and palliative measures of President Muhammadu Buhari, in his national broadcast of 29 March and the Minister of Power directives on the role of REA in complementing the Federal Government’s efforts on COVID-19 in his press release of 31st March 2020. The REA further stated: “Also, the Agency outlined measures towards containing COVID-19 in the country in a press release on 3rd April 2020 by providing emergency electrification of COVID-19 health centres across the country, collaboration with development partners on accelerating disbursement to qualifying developers as well as engaging the Central Bank of Nigeria through the Federal Ministry of Power towards the inclusion of energy companies under the COVID-19 intervention program of the bank.” Central Bank of Nigeria said: “We applaud this generous gesture by the Rural Electrification Agency of providing these solar hybrid mini-grids to COVID-19 isolation centers and the public health laboratory in Lagos state. This will truly help our health workers in containing the spread of COVID-19 in the country.”         Source:www.energynewsafrica.com

Nigeria: GP Global Acquires Lubricant Assets Of Grand Petroleum

GP Global, a leading global energy-to-agriculture conglomerate, has made a strategic acquisition of the lubricants assets of Grand Petroleum, Nigeria’s leading lubricants player and part of the Nosak Group, in order to expand and strengthen its presence in Nigeria and West Africa. The acquisition include assets such as – lubricants brand – HiSpeed and a state-of-the-art blending plant with an annual capacity of about 50,000 metric tonnes in Lagos, which includes storage tanks with a capacity of 6,000 kilolitres. “Nigeria is one of the core markets for our lubricants and base oil business with a significant opportunity now opening up to expand our presence in Africa. We have already built a strong lubricant market share in India and the Middle East. Through local manufacturing and a strong distribution network in Nigeria, the acquisition will position us one of the fastest-growing global lubricants and base oil businesses,” Sudip Shyam, Global Head- Lubricants & Base Oil, GP Global said. He said that GP Global is fully committed to supporting the local economy and will focus on unlocking the true potential of the lubricants and base oil business in the continent through this strategic acquisition. It will also strengthen the base oil market of GP Global, by leveraging on the storage and ability to import premium base oils for distribution. “This is a strategic acquisition by GP Global that will consolidate our presence in key African markets. The strong manufacturing competencies that we gain through the acquisition of a wide range of lubricants, and the advantage we gain in base oil trade will add to our market share. With this acquisition, we aim to grow our business of oil and agricultural products as well as build a strong retail network in Africa,” Ajay Pandey, COO for Nigeria, GP Global said. GP Global will lead the operations of the newly acquired business with a strong team of Nigerians, several of them already part of the existing team. The operations of the Nigerian company are certified by the Standards Organisation of Nigeria as part of the MANCAP (Mandatory Conformity Assessment). It has built strong competencies in the manufacturing and sale of lubricant oils, toll blending, engine oils, hydraulic oils, automobile fuels and lubrication, industrial fuels and lubrication, and other specialty oils. GP Global is also a leading lubricants player in UAE and India, where it has high-end manufacturing units in the industrial and automotive lubricants sector. The company recently announced setting up of a new blending plant in India and aims to process 500 million litres of lubricants across India, Middle East and West Africa this year.         Source: www.energynewsafrica.com    

UK: Almost Half Of Consumers Owed £1.7 Billion By Energy Suppliers

About 13 million households in the United Kingdom (UK) are owed a total of £1.7 billion ($2.1 billion) by their energy suppliers — up 13.5% (£230 million) compared to last year, according to new research comparison and switching site Uswitch.com. Consumers who pay for their energy by direct debit can often find themselves in credit with their supplier as their monthly payments don’t exactly match their gas and electricity usage. Their direct debit amounts stay the same every month, but their energy usage changes depending on the time of year. This means that consumers should be in credit with their supplier following the summer months, and in debt to their provider in the depths of winter. But coming out of winter this year, almost half of all UK households (46%) are due a refund from the energy provider, with the average amount worth £136 — up £10 on last year. In addition, one in ten energy bill-payers (10%) are owed a rebate of more than £200. One in five consumers (19%) say the amount they are in credit with their energy supplier has grown since last year. Some energy providers do not automatically issue refunds to customers whose accounts are in credit, meaning any money owed to consumers can go unclaimed for months. Almost six in ten (57%) report that their energy supplier has never automatically credited their account. Many consumers need more information about how to reclaim their money, as almost half of people (46%) are not aware how to. One in ten households (10%) didn’t know whether they were in credit or debt. At the other end of the scale, 3.9 million households (14%) are in debt to their provider at the end of winter, a total of £548 million for the UK — and an average of £142 each — up £20 (16%) on last year. More than a quarter (27%) say that their debt is higher than it was last year, and nearly one in ten (9%) have moved from being in credit last year to owing their supplier this year. Concerns over growing debt led some households to take measures to reduce their energy use over the winter period. Steps taken by people include turning down the thermostat (30%), only using the heating on certain days (24%) and turning down each radiator individually (23%). During the coronavirus lockdown, Uswitch.com is advising consumers to think about whether they want to reclaim their credit, or use it as a buffer to help pay for the extra gas and electricity they will use while spending so much extra time at home. In addition, vulnerable customers can get support from their energy provider. The vast majority of suppliers either refund automatically or allow you to fill in a form online. If consumers want to reclaim credit, it’s recommended that they do this via suppliers’ websites rather than calling wherever possible, as suppliers’ contact centres are extremely busy supporting more vulnerable customers. Sarah Broomfield, energy expert at Uswitch.com commented, “Energy firms owe £1.7 billion to families across the UK. At a time when many people are finding their finances squeezed as well as using extra gas and electricity because they have to stay at home, this will be welcome news for anyone sitting on unclaimed credit from their energy supplier. “More than a fifth of households say that the amount of credit or debt they’re in has increased in the last year, and we hope that providers will act quickly to make sure that direct debit payments accurately reflect energy use.”

Ghana: GOIL Reduces Fuel Prices Marginally

Ghana’s indigenous Oil Marketing Company, GOIL Company Limited has reduced the prices of fuel at the pump in the second pricing window. The price of super XP RON 95 and Diesel which was sold at GHC 4.32 per litre will now be sold GHC 4.21 per litre effective Thursday, April 16, 2020. The reduction follows the fall in crude oil prices on the international market. As at about 7am Thursday, WTI was trading at US$ 19:91 per barrel while Brent was selling at US$ 27.46.

Ghana: Free Electricity Will Worsen Power Sector Challenges-ACEP

The Africa Centre for Energy Policy (ACEP), an energy think tank in the Republic of Ghana is convinced that President Akufo-Addo’s decision to subsidize electricity tariff could worsen the challenges facing the West African nation’s power sector. According to ACEP, although the move is “well-intentioned to support Ghanaians, particularly the poor and vulnerable”, it argued that it could “endanger the sustainability of the power sector.” The energy think tank argued that further pointed out that the tariff is highly regressive and poorly redistributes national resources in favour of the rich. “The challenge Ghana has had with electricity subsidy for the vulnerable in society is poor targeting. A large proportion of households described by the president as ‘the poorest of the poor’ do not benefit from lower lifeline tariffs because many of them live in compound houses.” “These people consume higher than the base unit of 50kwh a month, rendering the poor unable to enjoy the lifeline tariff. Rather, consumers who are able to procure separate meters and stay within the 50kw consumption band, typically not the poor, benefit from the lifeline tariff,” ACEP argued in a statement copied to energynewsafrica.com. President Akufo-Addo announced last week that government will fully bear the cost of electricity for all lifeline consumers in the country for April, May and June 2020 as the part of measures introduced by government to mitigate the impact of the novel coronavirus disease on Ghanaians. He added that commercial consumers will also enjoy a 50 percent reduction in the cost of electricity for the same period. However, ACEP believes the move could hurt the country’s power sector. The energy think tank thus urged government to scrap to the 50% reduction in electricity tariffs for commercial consumers but said government could maintain free electricity for lifeline consumers. “Make lifeline consumption free for everyone. This ensures that at least everybody has the option to enjoy electricity for the most essential purposes. Any consumption above lifeline should be paid for by the consumer. The burden on government for this approach will be GHS92 million a month, significantly lower than the GHS1 billion under the proposed policy. This generates a saving of GHS2.1 billion which can be used for other interventions to mitigate the impact of COVID-19,” ACEP added.   Statement-on-Electricity-Subsidy     Source:www.energynewsafrica.com

Ghana: Oil Marketing Companies Donate PPE To 37 Military Hospital, Give GHS100,000 To National COVID-19 Trust Fund

The Association of Oil Marketing Companies in the Republic of Ghana has presented Personal Protective Equipment (PPE) to the 37 Military Hospital to enable doctors and nurses attend to coronavirus patients. The PPE, valued at GHS111, 650 include protective goggle, surgical mask, theatre boots, pulse oximeter, suction pump, nasal oxygen cannula, disposable gown and head cover. The Association, led by its Chairman Mr Johnny Blagogee and the Industry Coordinator, Mr Kwaku Agyemang-Duah,  made the presentation on behalf of the Association on Wednesday, April 15, 2020. Making the presentation, Mr Johnny Blagogee noted that frontline health officers are, sometimes, unwilling to attend to COVIS-19 patients if they are not protected because of the danger of contracting the virus. This, he explained, is the reason the association found it necessary to support the hospital since the staff are key as far as treating COVID-19 patients are concerned. According to him, the PPE were specific to the needs of the hospital and urged the beneficiaries to do their best to help combat the virus. Mr Blagogee, who expressed concern about the low recovery rate of COVID-19 patients, said it his prayer that the current trend would change. The Commander of the 37 Military Hospital Brig. General  Nii Adza Obodai who received the items on behalf of the hospital praised the Association for the gesture and promised to ensure that the items are put to good use. In a related development, the Association also donated GHS100,000 into the Ghana National COVID-19 Trust Fund. The COVID-19 Trust Fund was created by the government of Ghana to mobilise resources to tackle the spread of the dreaded virus. The Chairperson of the National COVID-19 Trust Fund, Justice Sophia Akufo, who received the donation on behalf of the Trustees, expressed the gratitude of the Trust Fund for the gesture. Justice Sophia Akufo pledged that every penny of the money would be put into the fight against the COVID-19. “We want to assure you that every penny is going to go into the fight against the spread of the Coronavirus,” she assured her guests.         Source:www.energynewsafrica.com

Petrobras To Shut Down 62 Offshore Platforms In Brazil

Brazilian oil and gas major, Petrobras has decided to halt operations at 62 platforms located offshore Brazil due to the effects of the coronavirus and the low oil price. Employees will be transferred to other units. In an update on Wednesday, Petrobras said it would shut down 62 platforms in shallow water fields in the Campos, Sergipe, Potiguar, and Ceará basins. These measures are part of Petrobras plan communicated to the market on 26 March and is part of a series of actions to preserve jobs and the company’s sustainability in what is the worst crisis in the oil industry in a hundred years. According to Petrobras, these platforms do not have the economic conditions to operate with low oil prices and are active in sales processes. Also, the shutdown of these units corresponds to Petrobras’ plan to reduce its production. Petrobras noted that, 80 per cent of these platforms are not manned, and employees who work on other units will not be dismissed because they will all be relocated to other Petrobras organizational units. In case of interest, workers may join Petrobras’ recently announced Voluntary Severance Programs. To face this unprecedented crisis that combines an abrupt fall in demand and oil prices, Petrobras also disbursed lines of credit, cut and postponed investments, and reduced operating expenses and personnel expenses.       Source:www.energynewsafrica.com