99% Of BP Shareholders Back Climate Change Resolution
BP logo
More than 99 percent of BP’s shareholders voted in favor of a climate change shareholder resolution on Tuesday, pushing the UK oil and gas supermajor to set out a business strategy consistent with the climate goals of the Paris Agreement.
BP, along with other oil majors, has been facing increased investor pressure to start addressing climate change risks and set emission reduction targets if the world is ever to achieve the Paris Agreement targets.
At BP’s annual general meeting in Aberdeen on Tuesday, 99.14 percent of shareholders voted for the binding climate change resolution filed by investors acting as part of the Climate Action 100+ investor initiative, and supported by the BP board.
“Investors will reserve judgement and expect BP’s response to be sufficiently robust. They will pay close attention to how it addresses emissions across its full value chain and expect to see clear evidence that any future material capex investment is consistent with the goals of the Paris Agreement,” said Stephanie Pfeifer, a member of the global Climate Action 100+ Steering Committee and CEO at the Institutional Investors Group on Climate Change (IIGCC).
Another, more stringent resolution calling for BP to include emissions of its customers in climate goals, was rejected by BP’s shareholders. Such customer-emission reporting is not supported by BP’s management either.
Shell, for example, announced earlier this year its first-ever short-term goals to cut the carbon footprint of its operations and product sales. In December last year, in an industry first, Shell said that it plans to set short-term targets for reducing the net carbon footprint of the energy products it sells, and to link those targets with executive remuneration.
However, Shell’s core business is and will continue to be oil and gas for the foreseeable future, the supermajor’s chief executive Ben van Beurden said last fall.
“We aim play our part in the transition and to deliver on a strategy that is consistent with the goals of the Paris Agreement,” BP’s chairman
Helge Lund said at today’s shareholders meeting in Aberdeen, while climate change activists shouted “this is a crime scene” outside the building where the meeting was held.
Source: Oilprice.com
Ghana: ExxonMobil And BP Withdraw From Bidding For Oil Blocks
Mr Lawrence Apaalse(standing)
US oil giant, ExxonMobil and British Petroleum (BP) have pulled out from bidding for oil blocks in West African country, Ghana, in the ongoing Licensing Bid Round.
The two International Oil Companies (IOCs) had earlier submitted applications for direct negotiations for block 5&6, but pulled out at the embers.It is not clear yet why the two multinational companies decided to pull out at the last minute.
The government, through the Energy Ministry, earmarked six oil blocks for exploration.
Three of the blocks-2, 3 and 4-were to go through competitive bidding process while two blocks-5 and 6-were supposed to be for direct negotiations.
One of the block was reserved for Ghana National Petroleum Corporation (GNPC).
The deadline for the submission of bids for the blocks elapsed at 3pm today, May 21, 2019.
However, at about 15:15 GMT Tuesday, when the bids were opened in the presence of pressmen and representatives of some of the companies which were pre-qualified, ExxonMobil and British Petroleum were missing from the race.
Chief Director at the Ministry of Energy Lawrence Apaalse, told the press that the Ministry received information from the two companies, requesting direct negotiations for blocks 5 and 6 that they were no longer interested in the blocks.
Meanwhile, ENI and Vitol, as well as Tullow Ghana Limited, submitted bids for block 3 with First E&P submitting bid for block 2.
However, there was no bid for block 4Interestingly, the ministry received about sixteen applications for direct negotiations.
The original pool of companies that put in a bid for the 3 oil blocks include China National Offshore Oil Corporation (CNOOC), Cairn Energy, Qatar Petroleum, Global Petroleum Group, First E&P, Sasol, Equinor and Harmony Oil and Gas Corporation.
The rest include ExxonMobil, British Petroleum, Tullow Ghana Limited, Total, ENI Ghana, Vitol, Kosmos Energy and Aker Energy.
NPA Bans LPG Operators From Discharging Products After 6pm
Mr. Hassan Tampuli
The National Petroleum Authority (NPA) has banned LPG operators from discharging LPG products into their storage tanks after 6pm.
Henceforth, the petroleum downstream regulator wants LPG discharge to be done only during the day.
The regulator has also directed that LPG discharge from Bulk Road Vehicles (BRVs) would be undertaken only in the presence of personnel from Ghana National Fire Service (GNFS).
Additionally, LPG discharge using the pumps of BRVs are no longer permitted.
These were recommendations by a committee the NPA composed to carry out thorough risk assessment of all LPG outlets nationwide.
Chief Executive Officer of NPA, Mr Hassan Tampuli who made these recommendations known at the launch of 2019 Petroleum Safety Week organised by the Association of Oil Marketing Companies (AOMCs), also mentioned that LPG refilling plants have been mandated to have standby electric pumps for discharge.
He, therefore, encouraged the general public to report any non-compliant station or driver to the NPA to be dealt with in accordance with the law.
Mr Tampuli revealed that his outfit had been directed by the Ministry of Energy to extend the risk assessment to all schools with LPG installations in the country.
The first phase of the exercise, he said, would cover about 60 public secondary schools that have been identified to have such installations.
The findings would determine which interventions should be put in place to prevent any LPG related incidents/accidents in schools.
*Phasing out of reseller outlets*
As a means of raising the bar in the standard of performance of PSPs, the NPA, Mr Tampuli said, is gradually phasing out reseller outlets (gau-gau) in the country.
Currently, reseller outlets are not permitted to be located in urban areas but may be permitted in rural areas.
“We wish to inform the general public that none of these reseller outlets in the metropolitan and municipal areas are authorised by the NPA.
“We are, therefore, liaising with the security authorities to clamp down on all such reseller outlets,” he said.
Mr Tampuli advised the general public to desist from patronising the services of these unbranded and unauthorised reseller outlets since their services including product quality, offered to consumers cannot be guaranteed.
“We encourage the general public to rather patronise the over 3,000 licensed and branded retail outlets nationwide.”
Man, 60, Arrested For Tampering With Transformers At Adankwame
The Suame Division of the Ghana Police Service in Kumasi has arrested a 60 year-old electrician for damaging a transformer at Adankwame in the Atwima Nwabiagya North District leading to a cut in power supply to a section of the community.
The suspect, Baba Smaila, has since been granted bail as the police continue with investigations into the case to arrest his accomplices.
The Ashanti Regional Public Relations Manager, Power Distribution Service (PDS), Mr Erasmus Kyere-Baidoo, said tampering of transformers and other electrical equipment belonging to the PDS was becoming a challenge in the region.
This, according to him, was affecting the smooth supply of power to their clients across the region and beyond and called on the general public to volunteer information so that the culprits could be arrested.
Spoilt transformer
Narrating the events leading to the arrest, he said about two weeks ago, a 200 kVA transformer serving a section of the Adankwame area got spoilt due to overloading.
After reports got to the regional management team, it wrote to Accra for a new one to be installed to continue serving the people.
While waiting for another transformer to be fixed, one of the five remaining transformers also got blown-up, plunging about 200 houses into darkness.
Mr Kyere-Baidoo said when technical personnel of PDS visited the area to check the cause of the accident, some residents informed them that they suspected that Smaila had tampered with the transformer leading to the damage.
According to them, the suspect charged Gh¢100 from residents of some houses which had power outages and then changed their electricity lines.
They stated that this caused an overload on the transformer the lines were connected to, leading to the explosion of the second transformer.
The PDS, Mr Kyere-Baidoo said, informed the Adankwame police who, with the help of some local residents, managed to arrest Smaila.
After interrogation, Smaila admitted that he undertook the act with other people.
Collaboration
Mr Kyere-Baidoo expressed concern about the high incidence of tampering of electrical equipment in the region and said if it did not stop, the country would continue to spend huge sums of money replacing and repairing the damaged equipment.
He appealed to the chiefs, assembly members and the general public to collaborate with the PDS to protect the transformers which were installed with huge sums of state resources.
Source: graphic. com.gh
Oil Marketing Companies Resolute To Attain ‘Zero Injury’ -Agyeman-Duah
Kwaku Agyeman-Duah
Chairman of the Association of Oil Marketing Companies (AOMCs) Kwaku Agyeman-Duah says the association remains resolute in its quest to achieve ‘zero-injury’ target in all their filling station outlets.
He said the issue of health and safety are now paramount to the association because of the rise in fire explosions in recent past, which had claimed lives in and around filling stations as well as destruction of properties.
According to Mr Agyeman-Duah, their members have introduced a number of measures as part of efforts of preventing fire explosions including fixing devices that block mobile phones signal, when one attempts to make or receive call at filling stations.
Ghana has recorded more than 200 deaths since 2014 with several others sustaining various degree of injuries in explosions at filling stations.
Speaking at the launch of this year’s Petroleum Safety Week under the theme: ‘Leveraging Technology and Competence to Assure Safety at the Retail Outlet’, Mr Agyeman-Duah said: “We truly believe the cost of non-compliance to safety is more expensive than compliance.”
Consequently, we have fashioned a process to ensure that all levels of our operational endeavours are fully imbibed in safety.”
According to him, this includes peer review auditing to which the requisite logistics are in place to commence in the second half of the year.
“We also have strengthened our communication strategy to include our fortnightly publications of our newsletter. We will like to encourage everyone here present, who has the knowledge, the skill and the motivation to assist us in this bid to make our operation ‘zero-injury’ a success to come on board,” he added.
Chief Executive Officer of the National Petroleum Authority (NPA), Hassan Tampuli commended the Association for consistently organising and hosting the AOMCs’ Safety Week Celebration which brings together key stakeholders with the objective of educating all on safety matters in the petroleum downstream industry.
“As the chief servant of the regulator of the petroleum downstream industry, the NPA greatly applauds your commitment in the drive to ensure safety in the industry.”
Oil Marketing Companies Resolute To Attain ‘Zero Injury’ -Agyeman-Duah
Kwaku Agyeman-Duah
Chairman of the Association of Oil Marketing Companies (AOMCs) Kwaku Agyeman-Duah says the association remains resolute in its quest to achieve ‘zero-injury’ target in all their filling station outlets.
He said the issue of health and safety are now paramount to the association because of the rise in fire explosions in recent past, which had claimed lives in and around filling stations as well as destruction of properties.
According to Mr Agyeman-Duah, their members have introduced a number of measures as part of efforts of preventing fire explosions including fixing devices that block mobile phones signal, when one attempts to make or receive call at filling stations.
Ghana has recorded more than 200 deaths since 2014 with several others sustaining various degree of injuries in explosions at filling stations.
Speaking at the launch of this year’s Petroleum Safety Week under the theme: ‘Leveraging Technology and Competence to Assure Safety at the Retail Outlet’, Mr Agyeman-Duah said: “We truly believe the cost of non-compliance to safety is more expensive than compliance.”
Consequently, we have fashioned a process to ensure that all levels of our operational endeavours are fully imbibed in safety.”
According to him, this includes peer review auditing to which the requisite logistics are in place to commence in the second half of the year.
“We also have strengthened our communication strategy to include our fortnightly publications of our newsletter. We will like to encourage everyone here present, who has the knowledge, the skill and the motivation to assist us in this bid to make our operation ‘zero-injury’ a success to come on board,” he added.
Chief Executive Officer of the National Petroleum Authority (NPA), Hassan Tampuli commended the Association for consistently organising and hosting the AOMCs’ Safety Week Celebration which brings together key stakeholders with the objective of educating all on safety matters in the petroleum downstream industry.
“As the chief servant of the regulator of the petroleum downstream industry, the NPA greatly applauds your commitment in the drive to ensure safety in the industry.”
Iraq’s Oil Minister Chastises ExxonMobil For Evacuating Oil Personnel
Iraqi’s Oil Minister,Thamer Ghadhban, has described as the decision by ExxonMobil to evacuate its personnel from the troubled Arab country as “unacceptable and unjustified”.
Energynewsafrica.com understands Exxon began evacuating its foreign engineering personnel last week from the West Qurna 1 field in Iraq due to security concerns.
While Exxon neither confirmed nor denied the report last week, Iraqi officials are confirming that Exxon has removed 60 people—or all of its foreign employees.
The security issues came to light mid-week last week after the United States ordered all non-essential personnel from the country citing possible threats from Iran, presumably via the Iraqi Shi’ite militia.
Ghadhban said that Exxon’s personnel shuffling had a different motive.
“The withdrawal of multiple employees – despite their small number – temporarily has nothing to do with the security situation or threats in the oilfields in of southern Iraq, but it’s for political reasons,” Ghadhban said, adding that he had sent a letter to Iraq asking for the company to return to work in the oilfield.
Exxon’s departure seems rather prudent, however, given the late-night rocket strike near the U.S. Embassy in Baghdad that the Wall Street Journal reported on Monday. Iran was quick to denounce the attacks.
Iraq says that the production at the West Qurna 1 field is not affected by Exxon’s exit, with production still holding at 440,000 barrels per day.
However, Exxon’s abrupt departure from the country could put a strain on a $53 billion energy deal that is currently in the works between Exxon, PetroChina, and Iraq—the latter of which stands to rake in $400 billion over the 30-year period that the deal spans, adding more than 350,000 bpd of oil to Iraq’s capabilities.
Source: oilprice.com
TechnipFMC Inks Arctic LNG 2 Deal With Russia’s Novatek
Russian Novatek’s joint venture Arctic LNG 2 and oilfield services provider TechnipFMC have signed a contract on engineering, procurement, supply, construction and commissioning of an integrated liquefied natural gas facility with an annual liquefaction capacity of 19.8 million tons under the Arctic LNG 2 project.
The contract terms provide for the launch of the first train of the project in 2023, Novatek said on Monday.
The Arctic LNG 2 is a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia, which will be developed using offshore platforms in northern West Siberia.
“The team, which implemented the unique Yamal LNG project in record time and on budget, has now joined an even larger and more innovative project,” noted Novatek’s Chairman of Management Board Leonid Mikhelson.
“We are confident that the accumulated experience of mutual cooperation on the construction of LNG plants in the Arctic zone will also ensure the successful and timely implementation of our new project Arctic LNG 2.”
The Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The project is based on the hydrocarbon resources of the Utrenneye field.
As of December 31, 2018, the Utrenneye field’s 2P reserves under PRMS totaled 1,138 billion cubic meters of natural gas and 57 million tons of liquids. Under the Russian classification, reserves totaled 1,978 billion cubic meters of natural gas and 105 million tons of liquids. OOO Arctic LNG 2 owns an LNG export license.
The project’s participants include Novatek (90%) and Total (10%), which signed definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2 in March 2019.
In addition, Novatek in April entered into agreements with two Chinese companies – CNODC, a subsidiary of CNPC, and CNOOC – under which they will each acquire a 10% participating interest in the Arctic LNG 2 project.
The Arctic LNG 2 project envisages constructing three LNG trains at 6.6 million tons per annum each, using gravity-based structure (GBS) platforms. The project is based on the hydrocarbon resources of the Utrenneye field.
As of December 31, 2018, the Utrenneye field’s 2P reserves under PRMS totaled 1,138 billion cubic meters of natural gas and 57 million tons of liquids. Under the Russian classification, reserves totaled 1,978 billion cubic meters of natural gas and 105 million tons of liquids. OOO Arctic LNG 2 owns an LNG export license.
The project’s participants include Novatek (90%) and Total (10%), which signed definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2 in March 2019.
In addition, Novatek in April entered into agreements with two Chinese companies – CNODC, a subsidiary of CNPC, and CNOOC – under which they will each acquire a 10% participating interest in the Arctic LNG 2 project. Ghana: Irate Krobo Youth Chase Out PDS staff
Reports say there is chaos at Manya Kpongunor in the Lower Manya Krobo District of the Eastern region over mass disconnection exercise being carried out by Power Distribution Services (PDS).
Energynewsafrica.com understands irate youth in the community reportedly chased out staff of PDS who were in the community to carry out mass disconnection exercise though they were accompanied by few armed police personnel.
Reports indicate that the agitating youth have mounted road blocks threatening to lynch staff of PDS should they enter any house. There is currently a gridlock on the Kpong -Odumase- Somanya road due to the action of the youth.
Meanwhile, the first team of Police officers dispatched to the scene have withdrawn as they were outnumbered by the irate youth.
The Odumase Police command has called for reinforcement from Akosombo and Akropong to help maintain law and order in the area.
PDS is embarking on a mass disconnection exercise with armed Police personnel in Somanya, Odumase Krobo and its environs.
The exercise dubbed “Revenue Mobilization” according to Somanya District Manager of PDS Ing. Edward Ochire, has become necessary due to the failure by many residents to pay their electricity bills since 2017. A situation he said has led to revenue shortfalls of the company.
Hundreds of houses have been disconnected in the ongoing exercise which started May 13, 2019 from Kpong and Nuaso communities.
One person was put behind bars for attempting to resist disconnection of his house. Since the exercise began, many of the affected residents have been trooping to the offices of PDS to pay their accumulated bills. Since the exercise began, many of the affected residents have been trooping to the offices of PDS to pay their accumulated bills ranging between Ghc3,000 and Ghc7,000″
A feud between residents and workers of ECG now PDS turned bloody in 2017 when angry residents in Somanya attacked it office for over billing.
Police vehicles were torched and properties destroyed in the violent attacks. Many residents have since refused to pay electricity bills and have threatened to attack PDS staff who attempt disconnecting their homes.
Source: Starrfm.com.gh
Koti Ye Aboa, Etwe Nim Nyansa, Others Benefit From $2.3 Million Electricification Project
Hon. William Owuraku Aidoo, switching the light on to officially commission the project
About twenty-five communities in the New Abirem District in the Eastern Region have been hooked on to the national grid.
The $2.3 million rural electrification project benefited communities including Koti Ye Aboa, Etwe NimNyansa and Hwoa Ye Mmobo, all areas which gained popularity in the media last year when former Energy Minister, Boakye Agyarko, mentioned them on the Floor of Parliament in response to a question by MP for that area on when the towns would be connected to the national grid.
Interestingly, barely one year on, these towns are now connected to the national grid.
The $2.3 million project is expected to benefit over 2,000 inhabitants of the area.
Addressing the chiefs and people at separate durbars at Koti Ye Aboa and Abohema, the Deputy Minister for Energy in-charge of Power, William Owuraku Aidoo, who commissioned the project, advised the people to take advantage of the opportunity government had offered them to create jobs and employment opportunities for the youth.
He said the connection of the communities to the national grid would pave way for many development projects to be established for the people, saying government was committed to ensuring universal access to electricity in the country.
He urged the people to pay their bills promptly so that more revenue could be generated to extend power to other communities in the country.
The Member of Parliament for the Abirem Constituency, John Osei Frimpong, said 17 communities which included Tawiakrom, Obuo Betwao and Mampong, which were not part of the first phase, would be captured in the second phase.
He said a lot of development projects were being initiated in the district in the areas of education, health and sanitation to help improve the livelihood of the people.
The Birim North District Chief Executive (DCE), Nana Raymond Damptey, urged the communities to make the best use of the power to benefit them economically.
He advised parents in the area to ensure that their children used the lights to study and not to focus on entertainment programmes on television, which could affect their education.
The Eastern Regional Marketing Manager of the Power Distribution Services (PDS), Ghana, Abraham Lincoln, advised the people to use the power economically to avoid exorbitant bills.
The Chief of Pankese, Nana Dr Boakye Darkwa III, commended the government for the project and highlighted on some challenges facing the area as schools, bad roads and lack of health facilities.
The Odikro of Koti Ya Aboa, Nana Kofi Marfo, expressed the hope that the electricity would enable students in the area to study and improve on their performance to enable more young people from the area to get to the tertiary level.
Climate Change Activists ‘Shut Down’ BP London Offices
BP’s Building in London.
Activists from environmental organization, Greenpeace, have reportedly blocked entrances to BP’s headquarters in London.
Greenpeace tweeted on Monday morning: “We’ve just shut down @BP_plc’s offices in central London. This is a#ClimateEmergency.”
Greenpeace said its activists were blocking entrances to BP’s London HQ.
“[The activists] have set up camp inside specially designed containers. BP can’t continue as if it’s business as usual in this #ClimateEmergency we’re in. #BPshutdown,” Greenpeace tweeted.
The group has said its activists are “prepared to stay there until BP agrees to stop searching for new oil & gas and take the #ClimateEmergency seriously.”
Source: Offshore Energy Today
Oil Marketing Companies Celebrate Safety Week
Kwaku Agyeman-Duah, Chairman for AOMCs
The Association of Oil Marketing Companies (AOMCs) would from today, Monday, 20th May, 2019, begin the celebration of its annual Petroleum Safety Week to raise awareness about the need for safety at the fuel stations.
This years’s Petroleum Safety Week is under the theme: ‘Leveraging Technology and Competence to Assure Safety at the Retail Outlet’.
Association of Oil Marketing Companies’ Safety Week Celebration (ASWEC) was institutionalised two years ago with the cardinal objective of educating its members and the public, focusing more attention on health, safety and environment.
Ghana has witnessed fuel explosions in recent past resulting in the death of scores of people, as well as destruction of properties.
Some of the explosions were blamed on the failure of filling stations operators to enforce safety regulations.
However, following the Atomic Junction Gas Filling Station explosion, which resulted in the death of Net 2 TV Cameraman and six others, National Petroleum Authority (NPA) intensified its effort to ensure that safety regulations were adhered to.
This seems to have yielded positive results as the country has not recorded any major explosion for the past two years.
The issue of Health & Safety is now of great importance to all industry players especially AOMCs, since petroleum products are volatile and highly inflammable.
Below is the programme outline for the Petroleum Safety Week:
DAY 1
Launch of programme
➢ Guest Speaker – Minister for Energy
➢ Special Guests of HonourInaugurate and hoist an ASWEC Flag
Safety Exhibition & Demonstration
DAY 2
Safety ExhibitionTraining/Discussion for AOMCs Members (CIE)
➢ BASIC LIFE SUPPORT (BLS) TRAINING FOR AOMCS MEMBERS
(CIE)
➢ DISCUSSION ON FORECOURTDAY 3Safety ExhibitionSafety Training for AOMCs Members (CIE)
➢ BASIC LIFE SUPPORT (BLS) TRAINING FOR AOMCS MEMBERS
(CIE)➢ DISCUSSION ON LPG REFILLING PLANT SAFETY
DAY 4
Launch of Safety Programme’Forecourt Day’ by OMCs/LPGMs at their various retail outlets
➢ Train their personnel at the forecourt/LPG refilling plant on Safety
➢ General Public can visit the various …..
DAY 1
Launch of programme
➢ Guest Speaker – Minister for Energy
➢ Special Guests of HonourInaugurate and hoist an ASWEC Flag
Safety Exhibition & Demonstration
DAY 2
Safety ExhibitionTraining/Discussion for AOMCs Members (CIE)
➢ BASIC LIFE SUPPORT (BLS) TRAINING FOR AOMCS MEMBERS
(CIE)
➢ DISCUSSION ON FORECOURTDAY 3Safety ExhibitionSafety Training for AOMCs Members (CIE)
➢ BASIC LIFE SUPPORT (BLS) TRAINING FOR AOMCS MEMBERS
(CIE)➢ DISCUSSION ON LPG REFILLING PLANT SAFETY
DAY 4
Launch of Safety Programme’Forecourt Day’ by OMCs/LPGMs at their various retail outlets
➢ Train their personnel at the forecourt/LPG refilling plant on Safety
➢ General Public can visit the various ….. Petroleum Hub’s Success Dependent On TOR – Senyo Hosi
CEO of Ghana Gas Dr Ben KD Asante (left) in a chat with Senyo Hosi(right), CEO of CBOD during the OTC, Texas,USA.
Chief Executive Officer (CEO) of the Chamber of Bulk Oil Distributors (CBOD), Mr Senyo Hosi has described the Tema Oil Refinery (TOR) as a necessary centre for the success of the proposed petroleum hub in Ghana.
He said even though TOR has base assets that can be developed into a variable refinery, the success of the refinery depends largely on necessary capital, good governance and management structures.
Some of the assets are tank farms, storage facilities, pipelines, mooring facilities, useful land and nearness to market.
He was speaking at a forum dubbed ‘Ghana Day’ at the just-ended 2019 Offshore Technology Conference, held in Houston, United States of America.
He asked the government to take a back seat so far as the management of TOR is concerned if TOR is to succeed, citing South Africa as an example.
Senyo Hosi
Underutilisation of assets
Mr Hosi expressed disappointment in the underutilisation of assets of TOR and other storage infrastructure in the country, citing the less than one per cent of stock tank turn.
He called for the policy to optimise existing assets to be able to get the world to appreciate the value proposition from Ghana as a petroleum hub.
Mr Hosi stated that the petroleum hub has to be thought of in terms of Ghana as a corridor and not just a particular location in Ghana. Govt should take all useful assets as an equity contribution to enter into a strategic relationship with private technical and financial institutions to revamp TOR.
TOR needs $500m to operate at full capacity each year.
TOR’s management last year revealed that it will need about $500 million in order to operate at full capacity each year.
In 2017, imports of refined petroleum products grew by 15.7% to almost $2 billion, although national consumption declined to 3.46 million tonnes.
TOR seeks partners to build 150,000 bpsd refineries. Management of the refinery is looking forward to partner an investor to establish a $3.5 billion Greenfield refinery with an installed capacity of 150,000 bpsd, more than triple of its current capacity of 45,000 bpsd.
From 2014 to September 2017, TOR was not been able to secure crude oil on its own account to refine.
It rather engaged in tolling for third parties due to lack of finance to secure crude oil supply deals.
In October 2018, TOR secured some 947,000 barrels from BP Petroleum International on credit to resume processing.
This was after TOR partially cleaned up its books and restructured its operations. TOR is the premier and only refinery in Ghana, situated in Tema, about 24km east of Accra.TOR is a 45,000 barrel per stream day (bpsd) capacity Crude Distillation Unit and supplies this quantity out of the national demand of 100,000 bpsd.
The 14,000 bpsd Residue Fluid Catalytic Cracker (RFCC) Unit converts atmospheric air to higher value finished products.
The total storage of the refinery for both crude oil and finished petroleum products has increased from 340,000 metric tonnes to 1,000,000 metric tonnes.
The refinery’s capacity to produce and store Liquefied Petroleum Gas (LPG) has improved from 7,560 to 10,560 metric tonnes. The refinery provides storage services for the Bulk Distribution Companies for a fee subject to availability of storage space.
With the discovery of oil and gas in Ghana, TOR aspired to position itself to expand and improve its infrastructure to ensure the reliability of petroleum products on the Ghanaian market and also to export to the ECOWAS sub-region.
TOR also intends to explore the petrochemical area of the petroleum business. The refinery was among the first eight refineries in Africa as of 1963.
It was originally named the Ghanaian Italian Petroleum (GHAIP) Company and incorporated as a Private Limited Liability Company under the Companies Ordinance (Cap 193) on December 12, 1960.
It was 100% owned by the ENI Group (Ente Nationalie Indrocarburi) of Italy. The Government of Ghana bought all the shares of GHAIP in April 1977 and became the sole shareholder.
In 1990, the name was changed to the Tema Oil Refinery (TOR).
Senyo Hosi
Underutilisation of assets
Mr Hosi expressed disappointment in the underutilisation of assets of TOR and other storage infrastructure in the country, citing the less than one per cent of stock tank turn.
He called for the policy to optimise existing assets to be able to get the world to appreciate the value proposition from Ghana as a petroleum hub.
Mr Hosi stated that the petroleum hub has to be thought of in terms of Ghana as a corridor and not just a particular location in Ghana. Govt should take all useful assets as an equity contribution to enter into a strategic relationship with private technical and financial institutions to revamp TOR.
TOR needs $500m to operate at full capacity each year.
TOR’s management last year revealed that it will need about $500 million in order to operate at full capacity each year.
In 2017, imports of refined petroleum products grew by 15.7% to almost $2 billion, although national consumption declined to 3.46 million tonnes.
TOR seeks partners to build 150,000 bpsd refineries. Management of the refinery is looking forward to partner an investor to establish a $3.5 billion Greenfield refinery with an installed capacity of 150,000 bpsd, more than triple of its current capacity of 45,000 bpsd.
From 2014 to September 2017, TOR was not been able to secure crude oil on its own account to refine.
It rather engaged in tolling for third parties due to lack of finance to secure crude oil supply deals.
In October 2018, TOR secured some 947,000 barrels from BP Petroleum International on credit to resume processing.
This was after TOR partially cleaned up its books and restructured its operations. TOR is the premier and only refinery in Ghana, situated in Tema, about 24km east of Accra.TOR is a 45,000 barrel per stream day (bpsd) capacity Crude Distillation Unit and supplies this quantity out of the national demand of 100,000 bpsd.
The 14,000 bpsd Residue Fluid Catalytic Cracker (RFCC) Unit converts atmospheric air to higher value finished products.
The total storage of the refinery for both crude oil and finished petroleum products has increased from 340,000 metric tonnes to 1,000,000 metric tonnes.
The refinery’s capacity to produce and store Liquefied Petroleum Gas (LPG) has improved from 7,560 to 10,560 metric tonnes. The refinery provides storage services for the Bulk Distribution Companies for a fee subject to availability of storage space.
With the discovery of oil and gas in Ghana, TOR aspired to position itself to expand and improve its infrastructure to ensure the reliability of petroleum products on the Ghanaian market and also to export to the ECOWAS sub-region.
TOR also intends to explore the petrochemical area of the petroleum business. The refinery was among the first eight refineries in Africa as of 1963.
It was originally named the Ghanaian Italian Petroleum (GHAIP) Company and incorporated as a Private Limited Liability Company under the Companies Ordinance (Cap 193) on December 12, 1960.
It was 100% owned by the ENI Group (Ente Nationalie Indrocarburi) of Italy. The Government of Ghana bought all the shares of GHAIP in April 1977 and became the sole shareholder.
In 1990, the name was changed to the Tema Oil Refinery (TOR). Arthur Energy Advisors Win Outstanding Energy Consultancy In West Africa
Ing. Jabesh Amissah-Arthur receiving the award
Arthur Energy Advisors (AEA), an energy consultancy firm in Ghana has been adjudged the Outstanding Energy Consultancy of the Year at the West Africa Business Excellence Awards (WABEA) held in Accra on Friday, 17th May, 2019.
WABEA was initiated to recognize the industry actors who have met a benchmark for excellence and to also celebrate innovative ideas that have advanced the boundaries of what is possible in the sub-region.
Commenting on the award the Managing Partner of AEA, Ing. Jabesh Amissah-Arthur said: “Our mission as a company is to provide high value insights, strategy and solutions to the energy sector in West Africa.”
“This award reflects our passion and commitment as an indigenous company in the region,” he added.
This is the third time since 2015 that Arthur Energy Advisors AEA has been recognized for its accomplishments in the Energy sector.
The company provides technical energy sector advisory and consultancy services in the areas of Project Definition and Development, Project Management and Execution, Energy Strategy and Resource Planning, Energy Regulation and Policy Development.
Ing. Jabesh Amissah-Arthur noted that the company has for the past eighteen (18) years provided services and valuable advice to project sponsors and other stakeholders interested in investing in the subregion.
AEA has recently been involved in the development and implementation of Renewable Energy projects including the West African Solar Corridor Initiative and is eager to play an integral role in the future development of the region.
He expressed gratitude to the staff who he described as a dedicated and hardworking team through whose efforts the company continues to excel.
“This award stands as another landmark for us as a company. We are grateful to the organizers and West Africa Chamber of Commerce and Industry for this award and we are motivated to work even harder to better serve our clients and the sub-region,” Ing. Amissah-Arthur said.