UK Considers Withdrawing $1-Billion Financing For Mozambique LNG
The UK government is seeking legal advice on whether a 2020 commitment to finance the $20-billion Mozambique LNG project with $1.15 billion is still binding, the Financial Times reported on Tuesday, citing sources familiar with the matter.
Back in June 2020, government agency UK Export Finance (UKEF) made the decision to provide up to $1.15 billion worth of direct loans and credit guarantees to UK firms involved in the project, as part of its remit to support UK exports.
The $20-billion LNG export project in Mozambique led by TotalEnergies was halted in 2021 due to a deteriorated security situation and has been under force majeure ever since.
In the meantime, the Conservative UK government of Boris Johnson in December 2020 pledged to end taxpayer support for fossil fuel projects overseas as soon as possible.
Now the Labour government is taking legal advice over whether the UKEF pledge to support the Mozambique project is still binding, according to FT’s sources.
“Number 10 have been trying to find a way for this not to happen, but they have been worried about being countersued if they don’t do it,” a source close to the incumbent government told FT
Last month TotalEnergies told FT that the complicated political uncertainties and security issues had forced the French supermajor to pusg back once again the restart of works for its project in Mozambique.
In 2021, following Islamist militant attacks in towns close to the site, TotalEnergies suspended works on the $20-billion project, which was Africa’s largest foreign investment when announced.
Since 2021, TotalEnergies has waited for several conditions to be met to take a positive decision on resuming work on the project. The goal to achieve first LNG production has also slipped, first to 2027, and later, to 2029.
Now the 2029 timeline is also threatened as TotalEnergies did not resume work on Mozambique LNG by the end of 2024, as planned last year.
TotalEnergies confirmed to FT that its plans to restart the project by the end of last year slipped amid the disputed presidential election in Mozambique, the continued violence, and concerns about the security situation.
Source: Oilprice.com
South Africa: Eskom Appoints Leslie Mkhabela As Lead Independent Director To Strengthen Governance
South Africa’s power utility, Eskom, has appointed Mr Leslie Mkhabela has been as the Lead Independent Director, effective 31 January 2025.
Mr Mkhabela joined the Eskom Board as an Independent Non-Executive Director on 01 October 2022, when the new board was appointed by the late Minister of Public Enterprises Mr Pravin Gordhan.
“In our quest to strengthen governance and leave behind an organisation with structures that have the necessary robust checks and balances, the Board deemed it necessary to appoint Mr Mkhabela as a Lead Independent Director.
“We are happy that Mr Leslie Mkhabela has accepted this important role which he will occupy for the remainder of his term as an Eskom Board member. He has consistently demonstrated decisive, ethical, and inclusive leadership,” said the Eskom Board Chairman, Mr Mteto Nyati.
Source: https://energynewsafrica.com
Kenya: Kenya Power Posts Ksh.9.97 Billion Net Profit for Half-Year Ended December 2024
Kenya Power has announced an impressive net profit of Ksh.9.97 billion for the half-year period ended December 31, 2024. This significant financial performance is attributed to increased electricity sales, reduced cost of sales, and lower finance costs.
During the period, electricity sales rose by 5% to 5,506 GWh, up from 5,225 GWh in the same period of the previous financial year.
The growth in sales was driven by improved network reliability, connection of new customers, and enhanced outage resolution timelines.
“The increase in electricity unit sales was driven by higher consumption as a result of improved network reliability, connection of new customers and improved outage resolution timelines supported by the availability of critical materials including meters and transformers,” said Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror.
Despite the increase in electricity sales, power purchase costs decreased by Ksh.11.65 billion, thanks to the strengthening of the Kenya Shilling against major foreign currencies. This reduction in costs, combined with lower finance costs, contributed significantly to the company’s improved financial performance.
Finance costs reduced by Ksh.13 billion to Ksh.1.97 billion in December 2024, down from Ksh.15 billion in December 2023.
This decrease is attributed to the strengthening of the Kenyan Shilling against major foreign currencies, which account for 90% of the company’s loan portfolio.
Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror, noted that the company’s strategy focuses on powering people for better lives while maintaining operational excellence.
He emphasized the company’s commitment to sustaining its improved financial performance through targeted initiatives that enhance efficiency and diversify revenue streams.
To drive long-term growth, Kenya Power is advancing the transformer metering project to improve energy balance and system efficiency.
The company is also poised to capitalize on the anticipated lifting of the moratorium on new power generation contracts, which is expected to increase electricity sales as peak demand rises.
As part of its revenue diversification plan, Kenya Power has commenced implementation of the Government’s Digital Superhighway project, which involves rolling out last-mile fibre optic cable connectivity to approximately 6,000 government institutions nationwide.
“At the core of our strategy is a commitment to powering people for better lives while maintaining a sharp focus on operational excellence. Looking ahead, we are committed to sustaining our improved financial performance through targeted initiatives that enhance efficiency and diversify revenue streams to drive long-term growth,” said Dr. (Eng.) Siror.
Following the positive performance, the Board of Directors has announced an interim dividend of Ksh.0.20 per share.
Source: https://energynewsafrica.com
Ghana: WAPCo Has Begun Major Inspection And Maintenance Project On Its Offshore Pipeline
The West African Gas Pipeline Company Limited (WAPCo), owner and operator of the West African Gas Pipeline (WAGP), has begun a major maintenance project on its 569 km offshore pipeline infrastructure that traverses four West African nations from Wednesday, February 5th to March 2, 2025.
The maintenance includes the pigging and the in-line inspection of the 569 km offshore pipeline infrastructure, from Ajido, Lagos State, Nigeria to Takoradi, Western Region, Ghana and replacement of critical subsea valves at Tema and Cotonou to enhance operational safety.
This maintenance project will necessitate the temporary suspension of specific services, including the reverse flow transportation of natural gas from Ghana’s Western Region to Tema in the east, as well as gas transportation services from Nigeria to Cotonou (Benin), Lomé (Togo), and Tema (Ghana).
However, some gas transportation services from Nigeria to Takoradi in Ghana will continue during this period to ensure the successful execution of the pipeline cleaning and inspection activities.
The comprehensive cleaning and inspection exercise is a key regulatory requirement and aligns with industry best practices to ensure the safe and efficient operation of the West African Gas Pipeline (WAGP).
The cleaning and inspection, which encompasses the entire pipeline stretch from Itoki, Ogun State, Nigeria to Takoradi, Western Region Ghana is in two phases.
The first phase, which was completed in December 2024, involved cleaning and inspecting the onshore section of the pipeline within Nigeria.
The second phase was scheduled in January 2025 but rescheduled to February 3, 2025, to allow the new administration arrange for adequate fuel to power the thermal plants to keep the lights on. The second phase will focus on the offshore section of the WAGP.
WAPCo is mandated to conduct these inspections every five years (or on a risk-based schedule) as part of its commitment to maintaining the integrity of the WAGP and ensuring its safe and reliable operation across the West African region.
WAPCo has actively engaged with key stakeholders to ensure the necessary alignment for the successful implementation of this project.
WAPCo expressed appreciation to the maritime and regulatory authorities across the four West African nations as well as its customers, shippers, gas off-takers, host communities, shareholders, and all other relevant stakeholders for their continued collaboration and contribution to the success of this exercise “WAPCo is committed to maintaining the proactive stakeholder engagement processes established during the project’s preparation phase, during execution.
The company will continue to engage with relevant stakeholders on all matters to ensure the project’s safe execution and success,” says Auwal Ibrahim, WAPCo’s General Manager Operations & Maintenance.
Source: https://energynewsafrica.com
Ghana: Fuel Prices Shoot Up…Petrol Sells At Gh¢16.23, Diesel Gh¢16.20
Oil Marketing Companies in the Republic of Ghana have adjusted their pump prices upward for both petrol and diesel for the first pricing window of February, which runs from the 1st to the 15th of February 2025.
The adjustment resulted in petrol (gasoline) being sold between Gh¢ 16.20 and Gh¢14.80 per litre while diesel (gasoil) is sold between Gh¢14.99 per litre.
This follows the continuous depreciation of the local currency, the cedi, against major international currencies, especially the United States dollar, and the rising cost of refined petroleum products on the international market.
As of 16th January 2025, the average interbank exchange rate for a US dollar was Gh¢14.8574.
However, data from the Bank of Ghana shows that the average interbank exchange rate for a US dollar is hovering around Gh¢15.3877 as of 5th February 2025.
In other parts of Africa, fuel prices are reviewed monthly.
In Ghana, the review period has been revised from every two weeks to daily adjustments by Oil Marketing Companies, based on fluctuations in key factors such as exchange rates, refined petroleum product costs, and inflation.
GOIL is selling petrol (Ron 91) at Gh¢15.85 per litre while petrol (Ron 95) is sold at Gh¢15.96, with diesel being sold at Gh¢15.99 per litre.
Shell is selling petrol at Gh¢16.23 per litre while diesel is sold at Gh¢16.20 per litre.
TotalEnergies is selling both petrol and diesel at Gh¢16.15 per litre.
Star Oil is selling petrol (Ron 91) at Gh¢15.37 per litre while petrol (Ron 95) is sold at Gh¢15.57, with diesel being sold at Gh¢15.37 per litre.
Allied is selling both petrol and diesel at Gh¢15.25 per litre.
Benab is selling both petrol and diesel at Gh¢15.15 per litre.
Goodness is selling both petrol and diesel at Gh¢15.10 per litre.
Puma is selling petrol at Gh¢15.40 while diesel is sold at Gh¢15.56 per litre.
Engen is selling both petrol and diesel at Gh¢15.99 per litre.
Petrosol is selling petrol at Gh¢15.83 and diesel at Gh¢15.95 per litre.
Source: https://energynewsafrica.com
However, data from the Bank of Ghana shows that the average interbank exchange rate for a US dollar is hovering around Gh¢15.3877 as of 5th February 2025.
In other parts of Africa, fuel prices are reviewed monthly.
In Ghana, the review period has been revised from every two weeks to daily adjustments by Oil Marketing Companies, based on fluctuations in key factors such as exchange rates, refined petroleum product costs, and inflation.
GOIL is selling petrol (Ron 91) at Gh¢15.85 per litre while petrol (Ron 95) is sold at Gh¢15.96, with diesel being sold at Gh¢15.99 per litre.
Shell is selling petrol at Gh¢16.23 per litre while diesel is sold at Gh¢16.20 per litre.
TotalEnergies is selling both petrol and diesel at Gh¢16.15 per litre.
Star Oil is selling petrol (Ron 91) at Gh¢15.37 per litre while petrol (Ron 95) is sold at Gh¢15.57, with diesel being sold at Gh¢15.37 per litre.
Allied is selling both petrol and diesel at Gh¢15.25 per litre.
Benab is selling both petrol and diesel at Gh¢15.15 per litre.
Goodness is selling both petrol and diesel at Gh¢15.10 per litre.
Puma is selling petrol at Gh¢15.40 while diesel is sold at Gh¢15.56 per litre.
Engen is selling both petrol and diesel at Gh¢15.99 per litre.
Petrosol is selling petrol at Gh¢15.83 and diesel at Gh¢15.95 per litre.
Source: https://energynewsafrica.com REA Invites RE Developers
The Rural Electrification Agency (REA) of Nigeria invites eligible companies, to apply for the Distributed Access through Renewable Energy Scale-Up (DARES) Project.
Applications are still open to Developers to access the Performance-Based Grant to deploy Solar Hybrid Mini-Grids and Standalone Solar Systems (SAS).
Join us as we advance the nation’s renewable energy scale-up efforts.
To Apply Now, Visit https://nep.rea.gov.ng/apply-dares.htmlhttps://nep.rea.gov.ng/apply-dares.html
Your Guide on Standalone Alone Solar (SAS) Application: https://help.odysseyenergysolutions.com/portal/en/kb/articles/dares-sas-performance-based-grant-supply-side
Your Guide on the Solar Hybrid Mini-Grid, PBG Application: https://help.odysseyenergysolutions.com/portal/en/kb/articles/dares-pbg
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Copyright © 2025 | Rural Electrification Agency.
China Slaps Retaliatory Tariffs On U.S. Crude And LNG
China has struck back at Trump’s latest tariffs on Chinese imports into the United States, announcing today a 15% levy on imports of U.S. liquefied natural gas and coal, and a 10% tariff on crude oil.
Beijing also introduced export limits on more critical minerals, including tungsten, molybdenum, tellurium, ruthenium, and ruthenium-related elements in a bid to “safeguard national security interests,” Reuters reported.
Tariffs will be introduced on farm equipment imports from the United States as well as some cars.
“The trade war is in the early stages so the likelihood of further tariffs is high,” Oxford Economics said in comments on Beijing’s latest retaliatory move.
President Trump announced he would be imposing import tariffs on all Mexican and Canadian imports into the United States and adding a 10% levy on Chinese imports before he took office, justifying the move with trade deficits the U.S. was running with its biggest trade partners.
Trump reduced the rate for Canadian crude oil to 10% and on Monday announced a 30-day delay to the tariffs on Mexico and Canada taking effect amid urgent negotiations with the heads of the two states as they sought to clinch a new trade deal with Washington. There was no mention of such negotiations with China, however, and the 10% additional tariffs went into effect today.
The tariffs on LNG could see a change in flows of the superchilled fuel into China in a reversal of earlier plans to boost these imports, as forecast by Bloomberg Intelligence last month. At the time, the outlet predicted that Trump’s approach to fixing U.S. trade deficits with the country’s biggest trading partners would benefit LNG exporters to Asia, giving them a bigger share of that market.
According to Bloomberg Intelligence, Chinese gas traders have committed to buying a total of 14 million tons from U.S. producers beginning in 2026. This is 50% more than China’s previous record of U.S. LNG purchases, set back in 2021. Now, these flows may be in jeopardy unless the tariff exchange stops.
Source: Oilprice.com
Ghana: Vivo Energy Ghana Commissions Washroom Facility At La Enobal Basic School
Vivo Energy Ghana, the exclusive marketer and distributor of Shell-branded fuels and lubricants, has commissioned a fully renovated washroom facility for La Enobal Basic School in Labone, Accra.
The initiative underscores the company’s commitment to improving educational infrastructure and supporting the development of communities within its operational areas.
The event, held at the school premises, was graced by key dignitaries including the Director of Education of La-Dade Kotopon Municipal Assembly, Madam Habiba Kotomah, Management of Vivo Energy Ghana, the Parent-Teacher Association and Headmasters of neighbouring schools.
Commissioning the facility, the Finance Manager of Vivo Energy Ghana, Kilai Muasya, highlighted the importance of creating an environment conducive for learning, emphasising that proper sanitation facilities are vital for the health and well-being of students.
“At Vivo Energy Ghana, we believe in growing with our communities and providing a clean and safe learning environment is foundational to achieving quality education. This facility reflects our dedication to empowering the next generation through meaningful partnerships and impactful interventions” he said.
The Director of Education of La-Dade Kotopon Municipal Assembly, Madam Habiba Kotomah, expressed her gratitude to Vivo Energy Ghana and the United Way Ghana for their continuous support to the school and the community at large, emphasising how the washroom facility has come as a solution to a dire need of a modern place of convenience for both teachers and students of the La Enobal Basic School.
In recognition of her steadfast commitment to advancing education, a citation in her honour was presented by the two organisations during the ceremony.
The contractor responsible for the project, Mr. Desmond Dickson of Azmon Limited provided an overview of the renovation, detailing the complete transformation of the old structure into a modern and functional facility.
The renovation works involved the conversion of pit latrines, popularly known as KVIP to water closets and the provision of urinal bowls and handwashing basins for both male and female washrooms.
Provision was also made for a dedicated washroom facility for the teachers. Old tiles, dilapidated ceiling, and roofing were also included in the work. To ensure regular supply of water, Vivo Energy Ghana again provided a 2500-litre overhead water tank for the school.
The washroom now meets high standards of hygiene and accessibility, ensuring a safe and dignified experience for all users.
This project is one of many initiatives spearheaded by Vivo Energy Ghana to promote sustainable developments within local communities and closely aligned with the United Nations Sustainable Development Goal Six (SDG 6)- ensuring access to clean water and sanitation for all.
Source: https://energynewsafrica.com
The Director of Education of La-Dade Kotopon Municipal Assembly, Madam Habiba Kotomah, expressed her gratitude to Vivo Energy Ghana and the United Way Ghana for their continuous support to the school and the community at large, emphasising how the washroom facility has come as a solution to a dire need of a modern place of convenience for both teachers and students of the La Enobal Basic School.
In recognition of her steadfast commitment to advancing education, a citation in her honour was presented by the two organisations during the ceremony.
The contractor responsible for the project, Mr. Desmond Dickson of Azmon Limited provided an overview of the renovation, detailing the complete transformation of the old structure into a modern and functional facility.
The renovation works involved the conversion of pit latrines, popularly known as KVIP to water closets and the provision of urinal bowls and handwashing basins for both male and female washrooms.
Provision was also made for a dedicated washroom facility for the teachers. Old tiles, dilapidated ceiling, and roofing were also included in the work. To ensure regular supply of water, Vivo Energy Ghana again provided a 2500-litre overhead water tank for the school.
The washroom now meets high standards of hygiene and accessibility, ensuring a safe and dignified experience for all users.
This project is one of many initiatives spearheaded by Vivo Energy Ghana to promote sustainable developments within local communities and closely aligned with the United Nations Sustainable Development Goal Six (SDG 6)- ensuring access to clean water and sanitation for all.
Source: https://energynewsafrica.com Nigeria: No Imminent 65% Electricity Tariff Hike – Special Adviser On Energy Clarifies
President Bola Ahmed Tinubu’s Special Advisor on Energy, Olu Arowolo Verheijen, has clarified her recent comment, which was twisted by some Nigerian media outlets, leading to growing concerns among Nigerians.
Some media reports suggested an imminent 65% hike in electricity tariffs, attributing it to Olu Arowolo Verheijen.
However, in a press statement on Monday, February 3, 2025, she described the report as a misrepresentation of her statement in a recent interview.
“This is a misrepresentation of what I actually said in a recent press interview,” she said.
Rather, she explained that following the increase in Band A tariffs in 2024, current tariffs cover approximately 65% of the actual cost of supplying electricity, with the Federal Government continuing to subsidise the difference.
According to her, the government prioritises metering, debt reduction and protection of vulnerable Nigerians.
The rollout of smart meters, starting this year, aims to end estimated billing for 7 million households, bringing transparency to electricity charges and improving revenue collection across the sector.
The priorities of the government in the power sector include targeted electricity subsidies, settlement of legacy power debt, and reducing costs for alternative power generation.
These reforms aim to improve service delivery, expand access to electricity and unlock prosperity for all Nigerians.
By prioritising the needs of vulnerable citizens, the government is committed to ensuring that power sector reforms lead to tangible improvements in people’s daily lives.
Below is her full statement
In power sector, FG prioritizes metering, debt reduction, and protection of the most vulnerable Nigerians
Rollout of smart meters starting 2025 will end estimated billing for 7 million households
ABUJA, 03 February 2025 — It has become necessary to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs.
This is a misrepresentation of what I actually said in a recent press interview. I highlighted the fact that, following the increase in Band A tariffs in 2024, current tariffs now cover approximately 65 percent of the actual cost of supplying electricity, with the Federal government continuing to subsidize the difference.
Also, while the government is indeed committed to ensuring fairer pricing over the long term, the immediate focus is on taking decisive action to deliver more electricity to Nigerians, ensure fewer outages, and guarantee the protection of the poorest and most vulnerable Nigerians.
In line with these, the Federal government’s power sector priorities include:
Presidential Metering Initiative (PMI):
One of the most significant steps in this reform is the Presidential Metering Initiative, which is accelerating the nationwide rollout of 7 million prepaid meters, starting this year.
This will finally put an end to the practice of estimated billing, giving consumers confidence in what they are paying for and ensuring transparency in electricity charges.
Metering will also improve revenue collection across the sector and will attract the investments needed to strengthen Nigeria’s power infrastructure.
Targeted Electricity Subsidies:
Today, the Federal government spends over ₦200 billion per month on electricity subsidies, but much of this support benefits the wealthiest 25 percent of Nigerians rather than those who truly need assistance.
To address this, the Federal government is working towards a targeted subsidy system to ensure that low-income households receive the most support. This approach will make electricity more affordable and accessible for millions of hardworking families.
Settlement of Legacy Power Debt:
Furthermore, the Federal government is addressing one of the major roadblocks to improved service, the mounting debts owed to power generation companies.
For years, these debts have prevented investments in new infrastructure and hampered efforts to improve electricity supply.
By clearing these outstanding obligations, the government is ensuring that power companies can reinvest in better service delivery, stronger infrastructure, and a more stable electricity supply for all Nigerians.
Reducing Costs for Alternative Power Generation:
Through a range of fiscal incentives, including VAT and Customs Duty Waivers, the Federal Government is working to lower the cost of alternative power sources such as Compressed Natural Gas and Liquified Petroleum Gas.
The government fully understands the economic realities facing citizens and is committed to ensuring that reforms in the power sector lead to tangible improvements in people’s daily lives.
Every policy is designed with the Nigerian people in mind — eliminating unfair estimated billing, ensuring that subsidies benefit the right people, and creating the conditions for stable, affordable electricity.
These reforms are laying the foundation for better service delivery, expanded access to electricity for homes and businesses, and unlocking prosperity for all Nigerians.
Source: https://energynewsafrica.com
Ghana: GNPC, Shell Discuss LNG, Solar And Exploration Prospects
The Ghana National Petroleum Corporation (GNPC) and Shell Energy Ghana are exploring opportunities to boost Ghana’s energy security through liquefied natural gas (LNG) supply, renewable energy expansion, and deepwater exploration.
This collaboration aims to enhance energy affordability, support Ghana’s transition to a diversified energy mix, and ensure stable and affordable energy for the country.
In a meeting between Acting GNPC Chief Executive Officer, Edward Abambire Bawa, and Shell Energy Ghana’s Managing Director and Country Chair, Brian Muriuki, both parties reaffirmed their commitment to working together to advance in Ghana’s oil and gas industry.
Shell Energy Ghana, which has been active in LNG supply since 2019, provided updates on its thermal LNG project, which is now 99% complete.
The delegation emphasized Shell’s commitment to enhancing energy security in Ghana, particularly considering recent global energy price hikes caused by COVID-19 and global geopolitical tensions.
The discussions also touched on Shell’s 20% stake in the West Africa Gas Pipeline and the company’s plans to secure additional gas sources for Ghana.
Both parties acknowledged the critical role of natural gas in ensuring stable and affordable energy for the country.
In addition to gas infrastructure, Shell highlighted its 15-megawatts solar energy project in Ghana and its plans to expand renewable energy investments.
The company expressed interest in partnerships with key stakeholders to enhance energy affordability and support Ghana’s transition to a diversified energy mix.
Despite global efforts toward energy transition, Shell emphasized that hydrocarbons will continue to play a key role in meeting Ghana’s energy demands.
The company shared its interest in deepwater exploration in Ghana, revealing that preliminary discussions with the Petroleum Commission are underway.
Shell expressed confidence in Ghana’s hydrocarbon potential, stating that the country remains an attractive destination for upstream investments.
Mr. Edward Bawa welcomed Shell’s renewed interest in deepwater exploration, describing it as a positive development for Ghana’s upstream sector. He reiterated that GNPC is committed to working with partners to optimize the country’s hydrocarbon resources in a sustainable manner.
“Gas is the way forward if Ghana is to fully optimize and gain more value from its hydrocarbon resources,” Bawa stated.
“Ghana needs more gas to meet its energy demands, and GNPC shares the government’s vision of creating an enabling environment for key industry players to invest in the sector.”
At the end, both entities renewed their commitment to partnering, as both GNPC and Shell explore opportunities to enhance LNG supply, expand renewable energy investments, and drive sustainable oil and gas exploration in Ghana.
Source: https://energynewsafrica.com
The discussions also touched on Shell’s 20% stake in the West Africa Gas Pipeline and the company’s plans to secure additional gas sources for Ghana.
Both parties acknowledged the critical role of natural gas in ensuring stable and affordable energy for the country.
In addition to gas infrastructure, Shell highlighted its 15-megawatts solar energy project in Ghana and its plans to expand renewable energy investments.
The company expressed interest in partnerships with key stakeholders to enhance energy affordability and support Ghana’s transition to a diversified energy mix.
Despite global efforts toward energy transition, Shell emphasized that hydrocarbons will continue to play a key role in meeting Ghana’s energy demands.
The company shared its interest in deepwater exploration in Ghana, revealing that preliminary discussions with the Petroleum Commission are underway.
Shell expressed confidence in Ghana’s hydrocarbon potential, stating that the country remains an attractive destination for upstream investments.
Mr. Edward Bawa welcomed Shell’s renewed interest in deepwater exploration, describing it as a positive development for Ghana’s upstream sector. He reiterated that GNPC is committed to working with partners to optimize the country’s hydrocarbon resources in a sustainable manner.
“Gas is the way forward if Ghana is to fully optimize and gain more value from its hydrocarbon resources,” Bawa stated.
“Ghana needs more gas to meet its energy demands, and GNPC shares the government’s vision of creating an enabling environment for key industry players to invest in the sector.”
At the end, both entities renewed their commitment to partnering, as both GNPC and Shell explore opportunities to enhance LNG supply, expand renewable energy investments, and drive sustainable oil and gas exploration in Ghana.
Source: https://energynewsafrica.com Ghana: Three ECG Transformers Vandalised In Bogoso
Some unidentified persons have vandalised three Electricity Company of Ghana (ECG) transformers in Bogoso in the Western Region, a report Ghana News Agency has said.
The report said two of the affected transformers, 50kVA and 200kVA, were in the circuit serving the Community Water at Bepoh Bridge and some bungalows at Anlonkwanta when the vandals attacked them.
The other affected one, which was a 100kVA dedicated transformer at Samahu was, however, not in the circuit.
Mr Awal Boye, Western Regional Public Relations Officer of ECG, said the incident had been reported to the police and investigations were being carried out.
He advised the public to be vigilant and report any unusual activity around ECG installations.
Source: https://energynewsafrica.com
Mr Awal Boye, Western Regional Public Relations Officer of ECG, said the incident had been reported to the police and investigations were being carried out.
He advised the public to be vigilant and report any unusual activity around ECG installations.
Source: https://energynewsafrica.com Tullow Oil Considers Selling Non-Core Assets To Repay Bonds
Tullow Oil Plc said it will consider selling non-core assets while it plans to repay bonds maturing soon with a mix of cash and available credit lines.
The Africa-focused producer has $493 million of bonds that come due on March 1, according to data compiled by Bloomberg. Part of the money to meet the obligations will come by drawing down a facility provided by Glencore Plc, the firm said in a trading statement on Thursday. It plans to “refinance and simplify” the remainder of its debt pile later this year.
The 2025 notes gained 3.5 cents on the dollar to 99.1 cents, according to data compiled by Bloomberg. Shares fell 1.6% in London at 9:56 a.m., adding to a drop of about 40% over the past 12 months.
Tullow borrowed billions of dollars during its free-spending days as a wildcatter searching for new oil basins. Chief Executive Officer Rahul Dhir refocused the business on its legacy assets in West Africa and improved its finances, reducing net debt to $1.45 billion since taking over in 2020.
Tullow also said it will consider disposing of non-core assets to help bring its debt below $1 billion. Sales would further reduce the scope of Tullow’s operations, after the company previously curbed exploration activity.
“Disposals will only be considered where the level of proceeds would be accretive to both equity and leverage,” the company said in the trading statement.
Tullow is facing changes at its helm, with the board looking for a new CEO after Dhir announced in December he would step down from the role.
The producer expects working interest production to average 50,000 to 55,000 barrels of oil equivalent per day in 2025. The firm also aim to identify future well locations at its Ghana fields.
Source: Worldoil.com
South Africa: Nersa Approves 12.7% Tariff For Eskom; Lower Than Expected
The National Energy Regulator of South Africa (Nersa) has approved electricity tariff adjustments for Eskom, the country’s national power utility, for the next three years.
For the 2025/26 financial year, Nersa approved a tariff increase of 12.7%, significantly lower than Eskom’s requested 36% hike.
The regulator also approved increases of 5.3% and 6% for the 2026/27 and 2027/28 financial years, respectively.
These increases are lower than Eskom’s expectations of 11% and 9% for the corresponding years.
The Ministry of Electricity and Energy welcomed the announcement, acknowledging that the lower-than-expected tariffs may pressure Eskom to optimize its investment strategy.
The Ministry has pledged to collaborate with Eskom to drive greater efficiencies and strengthen the utility’s infrastructure.
It’s worth noting that Eskom had previously stated that the Nersa-approved tariff increases for 2024 and 2025, combined with debt relief announced by the Minister of Finance, had improved the utility’s financial position.
Source: https://energynewsafrica.com
Ghana: Gov’t Will Prioritize Solar, Wind And Mini-Hydro For Energy Growth -Jinapor
Ghana has announced plans to transition from thermal-based plants to renewable energy sources, focusing on solar, wind, and mini-hydro projects to meet its growing energy demands.
According to Minister of Energy John Jinapor, this strategic move aims to reduce the country’s reliance on non-renewable energy and achieve long-term energy sustainability through a diversified energy mix.
The minister emphasized that Ghana’s energy transition plan is driven by the need to power its growing economy and ensure sustainable development.
By leveraging solar, wind, and mini-hydro resources, Ghana can reduce its carbon footprint, improve energy access, and drive industrialization, particularly within the African Continental Free Trade Area (AfCFTA) framework.
Ghana’s abundant renewable energy resources make it an ideal location for harnessing solar, wind, and mini-hydro power.
The country’s vast coastline offers favorable conditions for wind energy, while its several rivers are conducive to mini-hydro power generation.
At the Africa Prosperity Dialogue 2025 in Accra, Energy Minister John Jinapor stressed the importance of reliable, affordable, and sustainable energy for economic growth across the continent.
“The government remains committed to advancing green energy solutions, positioning the country as a leader in the region’s energy transition.”
The governing National Democratic Congress (NDC) in its Manifesto for the 2024 General Election promised to implement an energy transition strategy that will augment thermal and hydro power production with nuclear and other renewable energy sources, such as solar, wind, biogas, waste-to-energy, and other off-grid energy systems, like mini-hydropower production, and eliminate power wastage through public education and revised building codes.
Source: https://energynewsafrica.com