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

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 facebook twitter linkedin youtube instagram 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

Nigeria: No Imminent 65% Electricity Tariff Hike – Special Adviser On Energy Clarifies

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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

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

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

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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

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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

Ghana: Acting NPA Boss Kicks Off Stakeholder Engagement

Ghana’s National Petroleum Authority (NPA) Acting Chief Executive, Mr. Godwin Kudzo Tameklo, hit the ground running by engaging with key stakeholders in the petroleum downstream sector. His first meeting was on Thursday with the Bulk Road Vehicle Owners Union (Tanker Owners Union), led by Executive Secretary Mr. Ignatius Koku Doe. The discussions at the meeting centered around collaborative efforts to ensure a seamless operation of the sector. Mr. Tameklo conveyed President John Dramani Mahama’s vision for a robust and efficient industry, receiving a warm welcome into his new role. The association expressed its commitment to working together for the benefit of the industry and all its stakeholders. Mr. Tameklo also met with the Executives of the Tanker Drivers Union, led by National Chairman Mr. George Nyaunu. He acknowledged the vital role of tanker drivers in the petroleum downstream sector and assured the union’s leadership that addressing their welfare challenges would be a top priority. Mr Tameklo was appointed by President John Dramani Mahama and he assumed post earlier this week.     Source: https://energynewsafrica.com

Ghana: WAPCo Gears Up For Offshore Cleaning And Inspection

The West African Gas Pipeline Company Limited (WAPCo), owner and operator of the West African Gas Pipeline (WAGP), is preparing for the cleaning and inspection of the offshore segment of its pipeline from Nigeria to Ghana. The cleaning of the 569km stretch of pipeline from WAPCo’s compressor station located at Badagry, Lagos State, Nigeria, to its regulating and metering station located at Aboadze, near Takoradi, Western Region, Ghana, is scheduled to begin on February 5, 2025. WAPCo had initially planned to commence the second phase of the cleaning exercise in January 2025, after completing the first phase in December 2024. However, the exercise was rescheduled to February 2025 to enable the new administration to make arrangements and procure adequate liquid fuels, notably Heavy Fuel Oil (HFO) and Light Crude Oil (LCO), to power the thermal plants in both western and eastern power enclaves, as the exercise will result in a curtailment of gas supply. The exercise is expected to last for 28 days. During the cleaning and inspection exercise, WAPCo will replace subsea valves and undertake other related maintenance activities. Ahead of this exercise, the WAPCo team is engaging with critical stakeholders and contractors involved in the project to ensure a safe and successful program execution. Pre-mobilization teams are currently assembled at the two WAPCo locations in Nigeria and Ghana to ensure all is set up for critical equipment. An effluent management system is also being installed at the company’s facility in Takoradi, where WAPCo expects to receive some effluent from the cleaning of the offshore pipeline. Afolabi Oladimeji Ogunmefun, WAPCo’s Deputy Manager, Asset Integrity, and team lead for the cleaning and inspection project, is upbeat about the team’s preparedness for this maintenance activity. “The team is ready and looking forward to undertaking this key pipeline integrity management program to manage our pipeline and confirm its integrity.” WAPCo is committed to maintaining 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: IES Celebrates Dr. Shafic, Prof. Klutse On Their Appointments

The Institute for Energy Security (IES) in Ghana is celebrating two major appointments of its board members to key positions in the country’s energy and environmental sectors. Dr. Shafic Suleman, a board member at IES and Senior Lecturer at the Institute for Oil and Gas Studies at the University of Cape Coast in the Central Region, has been appointed as the Executive Secretary of the Public Utilities Regulatory Commission (PURC). According to the energy think tank, Dr. Shafic’s appointment is a well-deserved recognition of his exceptional expertise and contributions to the energy sector, particularly in energy and petroleum economics, energy policy and law, sustainability, climate, and risk management. “Your deep understanding of the complex dynamics of the energy sector and your commitment to sustainability are precisely what is needed to drive innovation, efficiency, and equity in the regulation of public utilities,” said Nafi Chinery, Board Chair of IES. “We have no doubt that your qualities will impact positively on your new role, where your leadership will be pivotal in ensuring the affordability, reliability, and sustainability of utility services for all Ghanaians.” The IES also celebrated the appointment of Professor Nana Ama Klutse as the Acting Chief Executive Officer (CEO) of the Environmental Protection Agency (EPA). The IES said her appointment is a testament to her remarkable achievements as a renowned physicist, academic leader, and advocate for climate resilience and environmental sustainability. With her wealth of experience in climate science, environmental policy, and sustainable development, she is poised to bring transformative leadership to the EPA. The IES has congratulated both Professor Klutse and Dr. Suleman on their appointments, expressing confidence that their leadership will have a positive impact on Ghana’s energy and environmental sectors. With their expertise and dedication, they are expected to drive innovation, efficiency, and equity in their respective roles.           Source: https://energynewsafrica.com

Nigeria: Vandal Arrested for Damaging Ugwuaji-Makurdi 330kV Transmission Line Tower

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A suspect was apprehended by members of Watuolo village, Utonkon in Ado local government area, Benue State, Nigeria, for vandalizing Tower T195 along the Ugwuaji-Makurdi 330kV transmission line. The incident occurred on Saturday, January 25, 2025, according to the Transmission Company of Nigeria (TCN). Community members noticed suspicious activity around the tower at about 3 am and promptly sprang into action, apprehending one of the vandals while the others escaped. The suspect was subsequently handed over to the police. The TCN commended the community’s swift action and vigilance, which prevented further damage to the transmission line. The TCN appealed to other communities hosting critical infrastructure to emulate this example and take ownership of protecting transmission installations in their vicinity. “TCN will continue to work with security operatives and host communities to prevent such incidents and ensure a stable power supply,” the statement concluded.               Source: https://energynewsafrica.com