According to the release copied to energynewsafrica.com, the temporal load shedding management timetable has become necessary following the shutdown of Atuabo Gas Processing Plant for the completion of Takoradi-Tema Interconnectivity Project.



According to the release copied to energynewsafrica.com, the temporal load shedding management timetable has become necessary following the shutdown of Atuabo Gas Processing Plant for the completion of Takoradi-Tema Interconnectivity Project.
The move, he said, would make the country self-sufficient in using gas for electricity generation and minimise the importation of natural gas from Nigeria. “Ghana has enough gas to power all her power plants without relying on imported gas because gas is much cheaper than liquid fuel, hence a policy decision has been taken to switch-over to gas in energy generation,” he said. Vice President Bawumia announced this when he delivered the keynote address at the maiden Town Hall Meeting by the Economic Management Team (EMT) at the College of Physicians and Surgeons, in Accra, on Wednesday. He said the country currently paid 24 million dollars a month in excess capacity charges for power generated and not being used, which would shore up to 41 million dollars later this year. The meeting was held on the theme: ”Our Progress, Our Status, Our Future,” to update the public on gains made, so far, and efforts to sustain them to engender economic growth and development. The meeting attracted representatives of civil society organisations, academia, traders, importers, freight forwarders and members of the public to interact with the EMT members and asked questions on a wide range of issues pertaining to the economy. Vice President Bawumia said the first phase of the switch-over of liquid fuel to gas would be completed this month, which would ensure evacuation of 60 million standard cubic feet of gas from the Western Region to Tema Power enclave, while Phase Two would be completed by July or August, this year.
Parliament on Wednesday ratified the agreement between Government and the US oil giant ExxonMobil and its local partners, Goil Offshore Ghana Limited, for deepwater oil exploration in the Cape Three Points Block.
The Agreement, which is effective for 25 years, will however expire after 7 years if the exploration yields no commercial discoveries.
But the opposition party’s Spokesperson for Finance in Ghana’s Parliament, Cassiel Ato Forson, says the exemptions granted will deny the country the right revenues.
“Whoever did that negotiation for Ghana has indeed caused financial loss to this country. He has indeed messed us up big time. If Cabinet approved this, I beg to say that they should bow down their heads in shame because they have destroyed the revenue base for this country.”
“I am very surprised that the Ministry of Finance supports this. These are the very things we oppose. They came to government and within the first six months, they have approved it. Unfortunately, I am sad. Today is a sad day for Ghana. They have lost so much,” he added.
Meanwhile, the Deputy Minister for Energy in charge of Petroleum, Dr. Mohammed Amin Adam has described the agreement as a huge gain for the country.
“With these current exemptions that we are granting them, the total oil that Ghana will get is up to 84% and that is the highest so far in the history of our country. So if someone tells you that the terms are not good, you can tell from the net oil contribution that the country will get that that is not what the person is doing.”
The ExxonMobil Petroleum Agreement was signed by the Energy Minister, Boakye Agyarko on January 18, 2018.
The allocation, which was done through direct negotiation is situated in the deep water Cape Three Points area of the Western Region.
The Vice President, Dr. Mahamudu Bawumia has lamented the inability of the Ghana Grid Company Limited (GRIDCo) to operate at optimum level in the country. He says the company is struggling with transmission challenges as a result of obsolete distribution equipment. Explaining the recent power cuts at a town hall meeting on Wednesday, Dr. Bawumia insisted that Ghana is producing enough power but GRIDCO, the power distribution company, is unable to distribute it due to its old systems. “Even though we don’t have problems with power generation capacity, we have some problems with the transmission. The GRIDCO network is old and it has been unable to invest in high capacity lines because of financial difficulties.” Dr. Bawumia also disclosed that the country is currently paying an amount of $24 million per month for unused power under the agreement with the Independent Power Producers. He said there are fears that amount may double this year. “The energy sector is key for industrialization. We inherited many challenges in the sector but they are being addressed. Ghana has excess capacity in energy generation but the contracts entered into for many of these IPPs are expensive and financially burdensome. Most of these contracts are ‘take or pay’ arrangements. This means that even if we don’t need the power, we still have to pay for it. Ghana is currently paying $24 million a month in excess capacity charges alone for power we have not used. This will increase to about $41 million a month later this year, with the coming onstream of CEN Power, Early Power and Amandi power plants.”
Copper cables on towers belonging to the Northern Electricity Distribution Company (NEDCO) have reportedly been stolen in the Berekum municipality of the Bono Region.
The towers connect to the new sub-station in Berekum which supplies power to Dormaa, Drobo, Sampa, Wamfie, Wamanafo, and other surrounding communities.
This comes barely two weeks ago when some perpetrators hacked down one of GRIDCo’s transmission towers near its head office in Tema.The Corporate Communications Manager of NEDCO, Maxwell Kotoka, who confirmed the incident of theft said the development is frustrating.
“Some copper cables belonging to us have been cut and taken away from a number of our towers between the new 161Kv sub-station and the 34Kv sub-station for distribution all in Berekum. In all, there are 22 towers and the copper cables have been stolen from 16 of the towers. The copper is not energized, they protect the towers from thunder and lightning,” Mr. Kotoka explained.He said the theft of the cables could affect power distribution in the area.
“What we have done is that we have reported the incident to the police. We have done some engagements with the assembly, the political leadership of the area, stakeholders on the importance of each person helping in protecting the equipment and accessories,” he added.
Mr. Kotoko said NEDCO has taken steps to engage a contractor to have the stolen cables replace.
“We want to caution that we cannot continue replacing them as they get stolen and so we are urging everybody to be on the lookout for unscrupulous people who engage in the habit of stealing. We are also in collaboration with the driver unions to help us track such persons,” Mr. Kotoka noted.
Source: citinewsroom.comExxonMobil is considering selling some of its stakes in onshore and offshore fields in Nigeria, and those stakes could potentially raise US$3 billion, Reuters reported on Tuesday, citing banking and industry sources.
Exxon has recently held talks with Nigerian companies to see if there is interest in its assets in Nigeria, some of Reuters’ sources said, as the U.S. supermajor is now predominantly focused on boosting production in the Permian and developing the huge oil discoveries offshore Guyana.
Exxon is set to soon open in Nigeria the so-called data room with details about the oil and gas fields it plans to divest, one source told Reuters.
Exxon is one of Nigeria’s largest foreign oil operators and its production in 2017 stood at 225,000 bpd.
Nigeria, however, has been a difficult international scene for supermajors in recent years with militant violence disrupting export pipelines and streams and pipeline vandalism leading to spills.
Exxon is now primarily focused on getting the most out of the Permian and of the Guyana discoveries, which are its key growth areas for the coming years.
Exxon plans to significantly boost its earnings and cash flows through 2025, also thanks to asset sales.
“Cumulative cash flow from operations and asset sales over the period from 2019 to 2025 is $24 billion higher than what was communicated at last year’s analyst meeting, including $15 billion from anticipated asset sales from 2019 to 2021,” Exxon said last month.
In its Investor Day presentation in early March, one of Exxon’s key upstream messages was to aggressively enhance its portfolio competitiveness by executing industry-leading exploration opportunities, improving operations, and increasing divestments.
Source: Oilprice.com