Ghana: PIAC Calls For Accountability On Oil Revenue Usage
The Public Interest and Accountability Committee (PIAC), an independent statutory body mandated to promote transparency and accountability in the management of petroleum revenues in the Republic of Ghana has raised concerns with the overall management of the country’s oil revenue, calling on the government to publicly explain how the money was being used.
According to PIAC, although the country’s law states that 70 per cent of the revenue should go into capital expenditure, the chunk of the money was rather going into consumption.
Addressing a forum of editors at Senchi in the Asuogyaman District in the Eastern Region on the management and use of petroleum revenues for 2018 last Saturday, Dr Manteaw who is the Chairman of PIAC, said it was wrong for the government to use oil revenue to fund the implementation of the free Senior High School (SHS) programme, which he considered to be a consumable.
He said if the current trend was not curtailed, the country’s oil reserves would get depleted while Ghana would have nothing to show for the oil discovery.
Dr Manteaw said although he was not against the implementation of the free SHS programme, he disagreed with the use of the oil money to fund the policy, adding that it contravened the dictates of the Petroleum Management Act.
He also wondered where all the revenue for the oil had gone since the government continued to maintain that the money had not been utilised.
Buttressing his case with facts, he said in 2017, out of the total oil money transferred to the Annual Budget Funding Amount (ABFA), USD$403 million was not utilised, adding that in 2018, another USD$252 million which was transferred to the fund was also not utilised.
Dr. Manteaw said per the explanation from the Ministry of Finance, the money had been lodged into treasury accounts although there were no documentations to prove that claim.
In his view, any unspent oil money in the ABFA account should be returned to the Petroleum Holding Fund (PFH) to ensure proper accountability of the country’s oil revenue.
Nigeria Fights To Keep Assets From Seizure In $9B Gas Project Row
Nigeria will fight to protect government assets from the possibility of a US$9-billion court-granted seizure over a gas project dispute, the country’s Information Minister Lai Mohammed has said.
Ten days ago, a UK court granted the company Process and Industrial Developments Ltd (P&ID) the right to go after some US$9 billion assets owned by the Republic of Nigeria, after the firm had won earlier an arbitration award over a failed project for a gas processing plant in Africa’s largest oil producer.
Back in 2010, P&ID and the Nigerian government struck a deal under which Nigeria would provide gas to a processing plant that the company would build and operate in Calabar, southern Nigeria.
The deal failed and the company took Nigeria to an arbitration court in 2012 over the failed agreement. P&ID was awarded US$6.6 billion—now the award, including interests accrued, tops US$9.6 billion, Andrew Stafford, Q.C. of Kobre & Kim, which represents P&ID, told Reuters earlier this month.
The sum is not a negligible amount for Nigeria—it equals roughly 20 percent of the West African country’s currency reserves, according to Reuters.
After receiving the go-ahead from a UK judge to go after the award, the company planned to start the process of seizing asses from Nigeria, Stafford said in the middle of August.
Now Nigeria—which has argued that the UK is not the venue for such court decision and that the award is “manifestly excessive”—vows to protect any government assets from a possible seizure.
“The federal government is taking all necessary steps to appeal the decision of the UK Court, to seek a stay of execution of the decision, to defend its rights and to protect the assets of the people of the Federal Republic of Nigeria,” Information Minister Lai Mohammed said today, as carried by Reuters.
Ghana: Vice President Of Liberia Visits Sunon Asogli Power Plant
Management of Ghana’s independent power producer, Sunon Asogli Power led by the Chairman Mr Yang Qun and staff on Saturday, 10th of August 2019 welcomed the Vice President of the Republic of Liberia Dr Jewel Taylor and Mrs. Genevieve Kennedy, Ambassador of the Republic of Liberia to Ghana.
They were accompanied by Togbe Afede XIV.
“As Ghana is celebrating its Year of Return, Dr. Jewel Taylor visited Ghana with her delegation to attend the HACSA summit and we were privileged to have her visit the plant,” a statement by the management of Sunon Asogli Power, said.
The statement said she wanted to acquaint herself with the Energy sector of Ghana and understand the operations in the industry.
Dr Taylor was introduced to Shenzhen Energy and Sunon Asogli Power and was particularly interested in clean energy such as waste-to power, wind power and solar.
She said Liberia is currently facing challenges in their power sector with Electricity prices being high and with very little installed capacity.
She then took a tour around the plant and was impressed with operations of the company and pushed for management to employ more skilled female staff.
She looks forward to a potential investment from Shenzhen Energy group in the Energy industry of her country and invited the group for a familiarization tour of Liberia.
Noble Energy Makes New Oil Discovery At Equatorial Guinea’s Offshore
Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) has announced that U.S. oil and gas company, Noble Energy, has made a discovery in offshore sector Block I.
The Aseng 6P well was drilled to a total depth of 4,417 meters and is expected to produce first oil in October 2019.
Noble is currently in the process of completing the 400-metre horizontal section of the well and, using existing Aseng field infrastructure, it is expected to produce oil from October 2019.
“We are excited to announce this discovery which could not have come at a more opportune time. We have been dedicated to developing our resources to build a better economy and create opportunities for our people and it seems we are gaining momentum,” Minister of Mines and Hydrocarbons H.E. Gabriel Mbaga Obiang Lima said in a press release copied to energynewsafrica.com.
He added that: “It’s always been our firm belief that our country is relatively under-explored. When companies drill offshore Equatorial Guinea, their likelihood for a discovery is real. Noble Energy and partners are longtime friends of Equatorial Guinea and it is only fitting that we should build on our oil and gas development efforts with them right by our side. This is great news for our economy, job creation and local content development.”
The Aseng field consists of five subsea wells connected to a FPSO vessel. With a 40 percent interest, Noble Energy is the operator.
Other partners include Atlas Petroleum (29 percent), Glencore Exploration (25 percent) and Gunvor (six percent).
This year, Equatorial Guinea kicked off its endeavour to become Africa’s premier gas hub with the signing of definitive agreements with the Alen field partners and Punta Europa Plant owners to monetise gas from the Noble Energy-operated Alen field–a project known as the Gas Megahub.
As the country develops its gas resources, Minister Obiang Lima said earlier this year that it was also targeting a final agreement on its 2007 joint deal with Cameroon to develop gas condensate discoveries Yoyo and Yolanda on their maritime border.
Minister Obiang Lima, alongside Antonio Oburu, General Director of Equatorial Guinea’s national oil company GEPetrol, will lead a delegation of companies active in Equatorial Guinea to the Africa Oil & Power Conference and Exhibition in Cape Town, South Africa, on October 9-11, 2019.
Accompanying the minister will be BANGE, Centurion Law Group, Noble Energy, Marathon Oil, Golden Swan, Baker Hughes, Kosmos Energy, Trident Energy, Tullow Oil, Elite Construcciones, Schlumberger, NAHSCO, Hexagon and NALCO Champion.
Source: www.energynewsafrica.com
The Aseng field consists of five subsea wells connected to a FPSO vessel. With a 40 percent interest, Noble Energy is the operator.
Other partners include Atlas Petroleum (29 percent), Glencore Exploration (25 percent) and Gunvor (six percent).
This year, Equatorial Guinea kicked off its endeavour to become Africa’s premier gas hub with the signing of definitive agreements with the Alen field partners and Punta Europa Plant owners to monetise gas from the Noble Energy-operated Alen field–a project known as the Gas Megahub.
As the country develops its gas resources, Minister Obiang Lima said earlier this year that it was also targeting a final agreement on its 2007 joint deal with Cameroon to develop gas condensate discoveries Yoyo and Yolanda on their maritime border.
Minister Obiang Lima, alongside Antonio Oburu, General Director of Equatorial Guinea’s national oil company GEPetrol, will lead a delegation of companies active in Equatorial Guinea to the Africa Oil & Power Conference and Exhibition in Cape Town, South Africa, on October 9-11, 2019.
Accompanying the minister will be BANGE, Centurion Law Group, Noble Energy, Marathon Oil, Golden Swan, Baker Hughes, Kosmos Energy, Trident Energy, Tullow Oil, Elite Construcciones, Schlumberger, NAHSCO, Hexagon and NALCO Champion.
Source: www.energynewsafrica.com
Ecolog Int. And Dynology Corp. Sign MOU To Expand Cooperation In Defense And Energy Sectors
Ecolog International, a leading global provider of integrated services, technology, logistics and environmental solutions, and Dynology Corporation, a leading provider of information technology services and cyber security solutions, have signed a strategic MoU to expand cooperation.
This is aimed at providing integrated digital and cyber security solutions to the defence sector, as well as energy infrastructure in Macedonia and the Balkans.
Under the terms of the MoU, parties will join forces to provide integrated security solutions, cyber security services and end-to-end implementation programmes focused on identification, mitigation and enhancement of the infrastructure in defence, as well as energy and hydrocarbon sectors.
Commenting on the MOU, Ali Vezvaei, Chief Executive Officer of Ecolog International, said “In a world of interconnectivity and integration on the one hand and rising complexities and conflicts on the other hand, protecting critical infrastructure in defence and energy sectors are of paramount importance to the nations. We are delighted to expand our cooperation with Dynology Corporation to help our customers address this risk in an integrated and sustainable manner.”
John Lord, President of Dynology Corporation, added, “Having served the U.S. Department of Defence and commercial sector for many years, Dynology Corporation is committed to helping address infrastructure security in general and cyber security in particular with our international customers, and in doing so, we are very pleased to establish our cooperation with Ecolog International.”
Source: www.energynewsafrica.com
Ghana: COPEC Calls For Dissolution Of BOST Board
A consumer advocacy group in the Republic of Ghana, Chamber of Petroleum Consumers Ghana (COPEC) is calling for the dissolution of the board of the Bulk Oil Storage and Transport (BOST) Company Limited.
The call follows the resignation of its second Managing Director within a space of three years.
Executive Secretary of COPEC, Mr. Duncan Amoah, is of the view that the board which supervised some transactions which allegedly caused the exit of the former Managing Directors of the nation’s strategic oil company must share the blame of their actions.
“The existing board should be fired because all the things that led to the resignation and firing of the two heads at the place was supervised by this board,” he said.
On Monday, Edwin A. Provencal was appointed as new MD for BOST after George Mensah Okley tendered in his resignation to the President.
Mr. Okley took over from Alfred Obeng Boateng who was entangled in corruption allegations.
In a statement after the appointment, Chairman of the BOST Board, Ekow Hackman said “Pending the assumption of office by the Managing Director, Mr Moses Mensah Assem, the Deputy Managing Director of BOST, will act as Managing Director.
”The Board wishes to assure all stakeholder and the general public that the company operations will continue uninterrupted.”
Source: www.energynewsafrica.com
Is PDS Capable Of Transforming The Energy Sector?
On 5th August 2014, the Government of Ghana signed the second Millennium Challenge Corporation Compact (MCC) with the US Government under the theme “Powering Ghana for Accelerated and Sustainable Growth”.
A major project in the Compact II is the ECG Financial and Operational Turnaround (EFOT) Project which seeks to strengthen the governance and management of ECG by bringing in an acceptable ECG Private Sector Participant (PSP). I followed the takeover of ECG on March 2019 by this single purpose vehicle called PDS with keen interest because to me it’s a wish that the laxities and the weaknesses in the state distribution entity was going to be addressed in due course, especially the financial challenges in the entire electricity supply matrix which hinges on ECG’s financial/revenue efficiency.
Therefore, the brouhaha about some alleged breaches with PDS’ bond guarantee in taking over the assets and management of ECG came as a surprise to me. However, analyzing the entire narratives, my initial shock turned into inquisition. Indeed, my probing paid off. I intercepted a progress report on PDS for the last four months of their coming into force, which was being submitted to authorities, and I found it very interesting. This has motivated me to share my thoughts with fellow Ghanaians.
I have identified two pivotal events I wish to bring to the notice of Ghanaians. In satisfying all the requirements before taking over the assets and management of ECG as agreed by MiDA and GOG, PDS undertook the following:
PDS engaged local financial entities; Cal Bank and Donewell Insurance Company Limited, in undertaking the bond guarantees on their behalf. This, I think is very significant, a positive sign of the PDS’ commitment to our own and the realization of our local content mantra.
PDS’ improvement in the system as I understand was achieved with the same workforce of the previous entity (ECG). This cannot be overlooked.
Kudos to the government of Ghana and the President in securing workers employment till the end of the 20 years concession period.
As I write this article, I am aware of the government’s investigations that will determine PDS’ continued existence as the concessionaire or otherwise. However, the report I have read on PDS’ progress within the four (4) months of their takeover tells very significant and positive stories which cannot be ignored.
As a student in the energy industry, I can pick a few and draw attention to what I seriously think we should neither gloss over nor take for granted as a government and as a people.
I have read that within four months, revenue to sales collection of PDS has increased to 95.92% from a region of not more than 90%, at the time of their takeover, and this is remarkable. Though it is work in progress, it implies a reduced level of debt stock of the Company, which translates into high liquidity, leading to timely payment of suppliers of the Company, especially the Independent Power Producers (IPPs).
The second observation I made from the report is the fact that PDS met a system loss level of 27.3%, but through various technical and commercial interventions, has been able to reduce the figure to 18.6% as at the end of June 2019, as shown in table 1 below. I know it will continue to fluctuate because the real figures can be ascertained at the end of the year. Nevertheless, it is a remarkable achievement, because anytime losses go down, it translates into revenue, which is the bloodline of the industry. If you take the performance of Meralco, the leading Company within the PDS shareholders, they have a single-digit losses level of less than 6% in the Philippines, and I believe they are highly capable of transferring the knowledge and technology in bringing ours further down, when they are given the opportunity to operate in our country. This will translate into higher revenue, and the benefits are enormous.
For example, reduced system losses translate into revenue, which has a significant effect on electricity pricing. The more PDS brings the system losses down to a level even lower than what I am told PURC has pegged (21%), it helps bring stability in the electricity tariff. When we have such price stability in the tariffs, it helps both industry and consumers to plan their lives better. It is therefore critical to consider the expertise of Meralco as the lead shareholder in the PDS consortium in reducing system losses, which will inure to the benefit of the power industry and the entire citizenry.
Table 1
One other performance indicator which interested me is the high level of debt collection. I gather that about 60% of the Company’s billing is in the credit system. The report indicates that accumulated debt by the previous entity of GH₵3.365billion has been reduced to GH₵2.6billion within the past four months. Such effective revenue collection means adequate availability of funds to fuel the entire electricity matrix loop. If PDS have put in place such an efficient running system, especially with the same personnel they inherited, it shows that they have put in place certain structures and monitoring systems which are yielding positive results.
Last but not the least of what I came across is on reduced outages by PDS. The table below indicates an initial number of outages of 665 per week which they were confronted with in March, 2019. Currently, PDS has reduce it to 219 outages per week. Technically records indicate that, the system average interruption duration index of 24.87hours in the previous year has been reduced to 17.26hours as of June 2019. That is about 30.6% improvement as compared to the same period last year, this translates into stable power supply.
TOTAL NUMBER OF OUTAGES (ALL OUTAGES – UNPLANNED, PLANNED, EMMERGENCIES.)
If you monitor social media handles, some customers have even testified that for the first time, they have come to realise that availability of power is highly possible even when it rains. Prior to this, it was the general thinking that when the weather turns cloudy, or whenever it rains power should automatically go off. PDS is doing something right.
In totality, PDS as a new company, has shown that they have the leadership, transformational strategy and team-oriented focus to bring improvement within the system. If within 4 months all indicators point to a positive change, then why not give them a chance to continue.
It is in this vein that I thank the President for the boldness in bringing private participation into the energy distribution system. When all things become equal, what is required of the sector agencies and regulators is to up their game in monitoring and evaluating whatever we have agreed with the PDS to deliver for the benefit of the citizenry and the Government of Ghana
Source: Kofi Brako (Energy Analyst)
| MONTH | SALES (GWh) | PURCHASES (GWh) | SYSTEM LOSSES (%) | |
| Mar-19 | 741.1 | 1,020.0 | 27.3 | |
| Apr-19 | 734.9 | 985.2 | 25.4 | |
| May-19 | 730.6 | 984.1 | 25.8 | |
| Jun-19 | 731.0 | 897.7 | 18.6 |
| WEEK | week 10 | week 11 | week 12 | week 13 | week 14 | week 15 | week 16 | week 17 | week 18 | week 19 | week 20 | week 21 |
| Total no of Outages | 665 | 781 | 681 | 797 | 1276 | 875 | 803 | 588 | 523 | 669 | 720 | 829 |
| WEEK | week 22 | week 23 | week 24 | week 25 | week 26 | week 27 | week 28 | week 29 | week 30 | week 31 | week 32 | week 33 |
| Total no of Outages | 727 | 649 | 507 | 498 | 684 | 466 | 630 | 343 | 434 | 342 | 280 | 219 |
Tanzania: GE Completes Gas Turbine Upgrade Ahead Of Schedule
GE and Songas have announced that they have successfully completed upgrades to the entire GE fleet of three LM6000PA and one LM6000PC gas turbines at the Songas Ubungo Power Plant in Dar es Salaam, Tanzania.
These technology upgrades will increase the power plant’s efficiency and reliability, enabling Songas to maintain the plant in the most economical way possible.
“We are very pleased with GE’s execution because it was completed safely and ahead of schedule, with great commitment and consistency across the four LM6000 units,” Nigel Whittaker, managing director, Songas Ltd said.
“The successful completion of this project not only improves Songas’ performance levels, but through the additional reliable supply of electricity, continues to contribute to the economic development of the country, making a significant difference in the lives of Tanzanians.”
GE’s upgrade of the four LM6000PA gas turbines to LM6000PC significantly improves the current LM6000 fleet. GE’s SPRINT (SPRayINTercooling) technology, installed on two of the four units, increases gas turbine performance, improves power flexibility, enhances the combustion system, improves fuel efficiency, extends maintenance intervals for the combustor, hot section and major overhaul and lowers maintenance costs.
“Over the past 15 years, Songas and GE have collaborated on the Ubungo power plant, and we’re excited to help enhance operations, increase capacity, and deliver the principles of safety first, quality foremost and operational excellence,” Elisee Sezan, CEO for GE’s Gas Power business in sub – Saharan Africa said.
“Our goal is to bring long-term value to our customers and their power plants, like Songas, to maintain it in the most efficient way possible and, ultimately, contribute to Tanzania’s economic and social development.”
The Ubungo power plant provides more than 20 percent of the grid connected power in Tanzania. It includes four GE LM6000 gas turbines, which have been operational since 2004.
In 2017, GE signed a multiyear agreement to upgrade gas turbines at the Songas Ubungo power plant in Tanzania. GE’s LM6000-PF dual fuel gas turbines power the 150-MW Kinyerezi power plant, which also has a multiyear agreement with GE for the long-term, reliable operation of its power plant.
Equinor Selects 10 Start-Ups For Energy Accelerator Program
Norwegian oil and gas company Equinor has revealed the second class of global start-up companies selected to participate in the Techstars Energy Accelerator. Three Norwegian companies participate in the program.
The ten start-up companies have been selected from hundreds of applicants across 42 countries. Through an intensive 13-week program they will seek to accelerate their solution by tapping into a global network of experts from Equinor and Techstars as well as the partnering companies Kongsberg and Capgemini, Equinor said on Tuesday.
“The energy industry is changing fast, and these companies are at the forefront of that change. Following the success of our first accelerator program last year, we are excited to have a new class of innovative startups working with us for the next three months. I look forward to supporting the teams – and also learning from them,” Al Cook, Equinor’s executive vice president for Global Strategy and Business Development said.
The accelerator is hosted at Equinor’s Oslo offices. The ten start-up companies will arrive on September 9.
“Norway has a world-class energy-technology industry and is recognized as a true global energy hub. It is the ideal place to engage with subject matter experts if you are working on disruptive solutions within energy,” Audun Abelsnes, managing director Techstars Energy said.
The selected companies represent solutions within oil and gas, renewables, new business models and digitalization. At the end of the program in December, they will present their solutions to Equinor, the partners, and other potential investors at a Demo Day.
“Kongsberg Digital wants to help the world’s industries with their digitalization journey, and we believe continuous innovation, knowledge sharing, and partnerships are key components for success. We look forward to working with the top ten companies and seeing what mutual benefits we can spin out of the Techstars Energy Accelerator 2019,” Hege Skryseth, executive vice president in Kongsberg and president of Kongsberg Digital said.
“Techstars Energy represents an opportunity to explore innovative ideas that can reshape our industry. We are very excited to be working with this year’s group of startups in the accelerator program and to learn from them,” Gunnar Deinboll, executive vice president, Capgemini Invent said.
The ten companies selected for the program are: Fieldmade, Norway; Fuelsave, Germany; GamY, Germany; Navarra Tech, Brazil; RagnaRock Geo, Norway; Salient Energy, Canada; SeeO2 Energy, Canada; Tempus, UK; Terrapin, Canada; VesselAdmin, Norway.
Accepted companies receive up to $120,000 and aim to compress two years of work into 13 weeks. It is worth mentioning that eight out of ten companies from the Techstars Energy class of 2018 signed deals with corporate partners.
Source: offshorenergytoday.com
Italy’s Eni Makes 1-Tcf Gas Find Onshore Nigeria
Italian oil and gas firm, Eni has announced that it had made a “significant” gas and condensate find onshore Nigeria, with reserves estimated at 1 Tcf (28 Bcm) of gas and 60 million barrels of condensate, as part of its near-field onshore drilling campaign in the Niger Delta.
Eni’s affiliate company NAOC which holds a 20% operating stake alongside state-owned NNPC (60%) and Oando (20%) — made the find in the deeper sequences of the Obiafu-Obrikom fields with the Obiafu-41 deep well.
The well — which can deliver in excess of 100 MMcf/d of gas and 3,000 b/d of condensate — will be “immediately” put on stream to increase NAOC’s gas production, Eni said.
“The discovery is part of a drilling campaign planned by NAOC and aimed at exploring near-field and deep pool opportunities as ‘immediate time to market’ opportunities,” it said.
The find also has further potential that will be assessed with the next appraisal campaign, Eni said.
Eni’s equity gas production in Nigeria last year was some 92 Bcf (2.6 Bcm), according to the company’s website, or around 5% of the country’s total gas output.
Nigeria — which has the largest gas reserves in Africa — has made it a priority to unlock and harness its gas potential to increase domestic and industrial power supply.
According to NNPC, Nigeria has around 202 Tcf of proven gas reserves — a number that was increased from around 187 Tcf late last year — plus about 600 Tcf of unproven gas reserves.
But despite having the largest gas reserves in Africa, only about 25% of those reserves are being produced or are under development, according to Shell.
Stena Forth Drillship To Move To Ghana After Guyana Drilling Conclusion
Offshore drilling firm Stena Drilling has signed a rig contract with Ghana’s Springfield Energy. Springfield Energy has hired the Stena Forth drillship.
The drillship is currently on a contract with Tullow Oil in Guyana, where it has this week spudded the Joe-1 well, a fortnight after it had made an oil discovery at the Jethro-1 well in the Orinduik block.
The Ghanaian oil and gas firm said the rig deal has set the company on course to make history by becoming the first independent African Energy company to drill in deep water.
Springfield will use the Stena Forth rig to drill at the West Cape Three Points Block 2 (WCTP Block 2) where it is the operator.
“This is a huge moment for Springfield Group and, I believe, for Ghana. Deepwater drilling has never been carried about by an independent African Energy company and we are incredibly proud to be on the cusp of being the first to do so,” Springfield Group’s CEO Kevin Okyere said:
“The campaign will first target the Oak-1x well on trend with the Beech discovery, made on the Deep Water Tano Cape Three Points block (DWT/CTP) to the south-west of WCTP Block 2. The next well, Afina-1x, will test the Cenomanian oil potential on a similar play fairway to discovered resources to the east of WCTP Block 2. Springfield continues to work to firm up further drilling locations on the highly prospective WCTP Block 2.”
Erik Ronsberg, Chief Executive Officer of Stena Drilling said: “We’re absolutely delighted to have signed a contract with Springfield Exploration & Production Ltd. and very grateful for SEP’s confidence in our company. We have worked in Ghana for several years now, building our Ghanaian crew complement on Stena Forth to over 50%, so thrilled to be playing a part in Ghana’s exciting future together with an inspiring company like Springfield.”
While Springfield did not share the terms of the rig contract, Bassoe has estimated the Stena Forth would start its two-month Ghana contract on September 30, at a dayrate of $175,000.
Source: offshoreenergytoday.com
Ghana: Energy Minister’s Technical Advisor Takes Over As New MD of BOST
A technical Advisor to Ghana’s Energy Minister has been appointed to replace Mr George Mensah Okley.
Mr Okley resigned as Managing Director of the strategic state oil company, Bulk Oil Storage and Transportation Company (BOST), last Friday.
Mr Edwin A. Provencal, founder & managing partner at Provencal & Associates (GH) Ltd, affiliate partner of palladium group in Ghana, was nominated by President Nana Akufo-Addo on Monday, August 26, 2019.
Mr Mensah Okley was allegedly compelled by the President to resign, after serving for almost a year at the company.
Mensah Okley replaced Mr Alfred Obeng Boateng after he was dismissed by President Akufo-Addo.
There were reports over the weekend that Mr George Mensah Okley had resigned from his post in relation to issue of contracts at BOST and some serious other challenges he was having with some key staff at BOST, thus, making his work difficult.
However, a board member who spoke on conditions of anonymity with energynewsafrica.com refuted the allegations, saying it was not true.
A statement signed by Deputy Energy Minister Joseph Cudjoe, requested the Board to take “due note and assess the suitability of Mr Provencal for the appointment accordingly.”
Meanwhile, a statement from Chair of the BOST Board, Ekow Hackman said, “Pending the assumption of office by the Managing Director, Mr Moses Mensah Assem, the Deputy Managing Director of BOST, will act as Managing Director.
”The Board wishes to assure all stakeholders and the general public that the company’s operations will continue uninterrupted.”
Source: www.energynewsafrica.com
ExxonMobil, Mosaic Materials To Explore Carbon Capture Technologies
ExxonMobil and Mosaic Materials have entered into an agreement to explore the advancement of technology to remove carbon dioxide from emissions sources.
Mosaic Materials has progressed research on a process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further discussion between the two companies to evaluate opportunities for industrial uses of the technology at scale.
“New technologies in carbon capture will be critical enablers for us to meet growing energy demands, while reducing emissions,” Vijay Swarup, vice president of research and development for ExxonMobil Research and Engineering Company said.
“Our agreement with Mosaic expands our carbon capture technology research portfolio, which is evaluating multiple pathways — including evaluation of carbonate fuel cells and direct air capture – to reduce costs and enable large-scale deployment. Adding Mosaic’s approach will allow us to build on their work to evaluate the potential for this technology to have a meaningful impact in reducing carbon dioxide emissions.”
“Through this agreement with ExxonMobil, we look to accelerate the pace of our development and demonstrate the business and environmental benefits that our technology can offer,” Thomas McDonald, chief executive officer of Mosaic Materials said.
“Our proprietary technology allows us to separate carbon dioxide from nearly any gas mixture using moderate temperature and pressure changes, substantially increasing energy efficiency and decreasing costs,” he added.
Mosaic Materials’ agreement with ExxonMobil is part of Mosaic’s commitment to accelerate the impact of its innovative, low-cost technology, and is Mosaic’s latest direct engagement with companies across a range of industries to demonstrate both the cost reductions and the environmental benefits of employing Mosaic’s solutions.
This engagement builds upon ExxonMobil’s extensive portfolio – in collaboration with startups, academia and governments – to develop next-generation energy technologies that improve energy efficiency and reduce greenhouse gas emissions. ExxonMobil supports Cyclotron Road, a fellowship for entrepreneurial scientists that is managed in partnership between Lawrence Berkeley National Laboratory and Activate, an independent nonprofit.
ExxonMobil also recently announced a 10-year, up to $100-million agreement to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.
For more than 30 years, ExxonMobil engineers and scientists have researched, developed and applied technologies that could play a role in the widespread deployment of carbon capture and storage. With a working interest in approximately one-fifth of the world’s total carbon capture capacity, ExxonMobil has been able to capture about 7 million tons per year of carbon dioxide, and has cumulatively captured more of it than any other company since 1970.
Source: worldoil.com
Kenya’s First Crude Oil Export Sparks Demands Over Revenue Sharing
Kenya exported its first crude oil on Monday, amid pointed speeches by local leaders asking the government to stick to its commitment to share revenues from future shipments equitably.
Although commercial production is years away, the discovery of oil has heightened expectations that citizens, especially those living adjacent to the deposits, will benefit.
President Uhuru Kenyatta in March signed into law a long-awaited petroleum bill that regulates oil exploration and production and outlines how revenues will be shared between the government, local communities and companies.
Of the revenues due to the state, the law allocates 20% to local government, 5% to the communities living where oil was found and 75% to the central government. An earlier draft gave 10% to the communities.
The law also says parliament will review the percentages within 10 years.
The law is required for large-scale oil production but was delayed by tussles between layers of government and residents of Turkana, the impoverished northern region where the oil deposits were found.
As the first shipment left Kenya’s port of Mombasa, three governors, an oil executive and the president compared carving up the profits to sharing a goat.
“When you slaughter a goat, the owner of the goat is left with the leg,” Turkana County deputy governor Peter Emuria Lotethiro said.
“Turkana want their leg,’ he added.
Tullow Oil estimates that Kenya’s Turkana fields hold 560 million barrels of oil and expects them to produce up to 100,000 barrels per day from 2022.
London-based Tullow said it and its partners had to date invested $2 billion in Kenya.
“Having spent $2 billion, the joint venture partners will be able to get a bit of that goat. There is much more investment to come which will create jobs across Kenya,” Tullow Chief Executive Paul McDade said.
Mining and Petroleum Minister John Munyes said approval to pump water from neighbouring West Pokot County to pressurise oil wells had been granted. The deal is crucial for next year’s final investment decision on proceeding to commercial production.
“By 2020 we should have the plans to let us proceed with the construction of the pipeline from Lokichar to Lamu,” he said.
Monday’s shipment was 250,000 barrels of oil. The crude was trucked to the port since there is no pipeline. The shipment’s destination was not announced.
Tullow and partner Africa Oil discovered commercial oil reserves in Turkana’s Lokichar basin in 2012. France’s Total has since taken a 25% stake in the project.
About two weeks ago, Kenya and a group led by explorer Tullow picked trading company ChemChina UK Ltd to buy its first shipments. ChemChina UK’s initial purchases are small-scale, with full commercial shipments due once the pipeline is built.
Source: Reuters