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Guyanese President Ali Urges New Thinking On Energy Transition

Guyanese President Dr. Mohamed Irfaan Ali has warned that the world is facing a widening and dangerous energy gap, driven by surging demand, uneven investment, and growing mineral constraints. He made these remarks while addressing the Offshore Technology Conference (OTC) 2026 in Houston, Texas, USA. He urged global leaders, investors, and industry players to move beyond a narrow view of “energy transition” and instead pursue what he described as a pragmatic and inclusive model of “energy balance.” Ali said the global debate on decarbonisation, renewables, artificial intelligence, and emerging technologies cannot be separated from a basic and pressing question: whether the world is producing enough energy, at a reliable cost, to sustain economic activity and human development. “It is a question grounded in the daily functioning of the global economy. It is a question about whether factories can operate, whether hospitals can function, whether food can be produced and transported, whether homes can be cooled and heated, whether data can be processed, and whether economies can grow,” Ali said. He pointed to data showing that while global energy supply has risen steadily since the mid-1960s, demand has accelerated sharply since 2010, creating what he described as a structural imbalance rather than a temporary disruption. The post-COVID rebound, combined with rapid digitalisation and the growth of artificial intelligence, has further widened the gap, contributing to price volatility and energy insecurity across regions. While renewable energy has expanded rapidly—growing more than five times faster than overall energy demand in recent years—Ali noted that fossil fuels still account for over 80 per cent of the global energy mix. Coal and natural gas remain central to electricity generation, particularly in emerging economies, underscoring that the world is building a new energy system while still relying heavily on the old one. “Coal, despite being the most carbon-intensive fuel, has seen significant growth in electricity generation, increasing by more than 70 per cent over the past decade. “This growth has been driven largely by industrialisation in emerging economies, where coal remains the most accessible and affordable baseload energy source. Natural gas has also expanded in electricity generation, increasing by 26.6 per cent. Gas plays a critical role in balancing renewable energy, providing flexible and reliable power when solar and wind generation fluctuate,” Ali said. Oil, he added, by contrast, has seen a steady decline in its role in electricity generation. These trends highlight an important point: the energy transition is not a simple substitution of fossil fuels with renewables. Ali also highlighted the scale of the financial challenge. Global energy investment reached a record US$3.3 trillion in 2025, but he said current levels remain insufficient to meet climate targets. To align with climate goals—particularly limiting global warming to 1.5°C—investment must increase dramatically. “Many economies are already facing difficulties in meeting their own targets. To achieve this, the United States needs to increase annual investment by 76 per cent, European countries by 36 per cent, and China by just under 30 per cent. None of these figures take into consideration current global challenges and geopolitical realities. “Global clean energy investment is highly concentrated, and I wonder whether it will face new, specific pressures,” Ali stated. Beyond financing, Ali sounded a strong caution about mineral constraints, describing the energy transition as a shift from a fuel-intensive system to a mineral-intensive one. Electric vehicles, offshore wind, batteries, and grids require significantly higher volumes of lithium, cobalt, nickel, copper, and rare earth elements—resources that are finite, geographically concentrated, and environmentally costly to extract. He warned that, without major advances in technology, recycling, and governance, the world risks replacing fossil fuel dependence with mineral dependence, creating new geopolitical and environmental vulnerabilities. Mining-related water use, toxic waste, deforestation, and biodiversity loss, he said, already pose serious risks to communities and ecosystems. Against this backdrop, Ali outlined Guyana’s approach, which he described as a deliberate dual-track strategy. The country is developing its oil and gas resources to finance transformation, while simultaneously investing in renewable energy, grid modernisation, storage systems, and regional energy integration. “We reject the false choice between development and environmental stewardship. Managed properly, they reinforce each other,” he said.       https://www.guardian.co.tt  

Ghana Signs Deal With Eni, Vitol & GNPC To Boost OCTP Gas Production To 350 MMSCF/D By 2028

Ghana has signed a major agreement with Eni Ghana E&P, a subsidiary of the Italian oil and gas giant, Vitol Upstream Ghana Limited, and the Ghana National Petroleum Corporation (GNPC) to ramp up domestic gas production from the Offshore Cape Three Points (OCTP) project. Production is expected to increase from the current level of around 280 million standard cubic feet per day (mmscf/d) to 350 mmscf/d by 2028. The agreement was signed on Tuesday by Ghana’s Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, on behalf of the government, alongside Dr. Cassiel Ato Baah Forson, the Minister for Finance. The term sheet establishes a framework of commercial principles to support the development of new gas infrastructure under the OCTP Non-Associated Gas (NAG) Upgrade Project. This latest agreement follows a Memorandum of Intent signed in September 2025, which committed the parties to collaborate on strategic investments aimed at strengthening Ghana’s energy sector and increasing domestic gas supply. Under the proposed expansion, gas production from the OCTP project is expected to rise to 350 million standard cubic feet per day by 2028. Currently, gas exports from the Jubilee and OCTP fields for domestic power generation stand at around 396 mmscf/d. The upgrade will be driven by the development of the Gye Nyame field, as well as the installation of a booster compressor and a new non-associated gas system on the project’s floating production, storage, and offloading (FPSO) vessel. The project is expected to enhance Ghana’s energy security, reduce dependence on imported fuels, and support rising demand from industries and households. Speaking after the signing ceremony, Mr. Jinapor described the agreement as a significant milestone for Ghana’s energy future. “Today’s signing sends a strong signal that Ghana’s upstream petroleum sector remains open, stable, and ready for investment,” he stated. He added that the government remains committed to creating a predictable and competitive environment for investors while ensuring that the country’s natural resources are developed responsibly for the benefit of all Ghanaians.

Ghana: Four PDS Officials Arrested Over Alleged Transfer Of Gh¢850M From ECG’s CalBank Account

Four officials linked to the defunct Power Distribution Services (PDS) Ghana Limited, the company that took over the operation of the Electricity Company of Ghana (ECG) under a concession arrangement, were last week arrested by the Bureau of National Investigations (BNI) for their alleged involvement in the transfer of GH₵850 million from ECG’s CalBank account.

The funds were allegedly transferred during arbitration proceedings in London between ECG and PDS, following the termination of the concession by the previous administration due to a faulty demand guarantee presented by PDS.

Minister of State in charge of Government Communications, Felix Kwakye Ofosu, revealed this on Monday, May 4, in a statement posted on X.

The four individuals are Philip Ayesu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh.

According to the minister, all four suspects have since been granted bail while investigations continue.

“The Bureau of National Investigations (BNI) arrested the following persons affiliated with PDS last week as part of investigations into the transfer of large sums of money believed to belong to ECG,” the statement read.

“The quartet have since been granted bail pending further investigations,” the minister’s post added.

Speaking on Accra-based Citi Eyewitness News on Monday, Benjamin Alpha Aidoo Esq., Spokesperson for the Attorney-General, stated that the four individuals have been officially charged but granted bail.

He, however, declined to provide further details of the ongoing investigation, saying:

“The investigation officers want to understand the full circumstances under which these funds left these accounts. They need to call various persons who they believe may have played a role in the depletion of these accounts.”

He added:”These four individuals were initially invited for questioning, granted bail, and further investigations will follow.”

When asked how much money was transferred, Aidoo confirmed it was GH₵850 million belonging to ECG, which had been in their CalBank account.

He further explained the context of the case: “During a transitional arrangement, reconciliation was supposed to be done for the transfer of assets and liabilities. Pending that arrangement, PDS took the matter to arbitration, and it was expected that arbitration would preserve the status of both assets and liabilities for both parties. After ECG won the arbitration and returned to the account, they could not locate these funds. It appears these funds were intentionally depleted, and that is the focus of the ongoing investigation.”

Meanwhile, attempts to reach Mr. Phillip Ayesu, one of the officials of PDS  has proved futile, as his phone was switched off.

Nigeria: NNPC Signs MoU With Two Chinese Firms For Restart Of Warri And Port Harcourt Refineries

Nigeria’s national oil company, NNPC Ltd, has signed a Memorandum of Understanding (MoU) with two Chinese companies to collaborate on a potential Technical Equity Partnership aimed at the completion and operation of the Port Harcourt and Warri refineries, according to a statement from NNPC Ltd. The two firms are Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd. The MoU was signed in Jiaxing City, China, on Thursday, April 30, 2026, by the Group CEO of NNPC Ltd, Engr. Bashir Bayo Ojulari; the Chairman of Sanjiang Chemical Company, Guan Jianzhong; and the Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi. The potential collaboration will focus on completing outstanding work at the two refineries and ensuring their operation and maintenance to achieve best-in-class, sustainable performance. Planned expansions and upgrades will elevate both refineries to cleaner, more profitable product standards. Additionally, the collaboration aims to expand the refineries’ petrochemical capacities and capitalize on gas and downstream opportunities through the development of co-located, gas-based industrial hubs. Speaking shortly after the signing, Engr. Bashir Bayo Ojulari, GCEO of NNPC Ltd, described the MoU as a significant milestone, following over six months of intensive engagement between the technical and management teams of NNPC and the two Chinese partners. “All parties recognize mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria, as well as the collective efforts required for success,” Ojulari said. The GCEO further emphasized that the MoU is a significant step in identifying potential technical equity partners to restart and expand NNPC’s refineries, as well as exploring opportunities in co-located petrochemicals and gas-based industries. The MoU reflects the parties’ shared intent to proceed with discussions in good faith, with any definitive agreements to follow in due course and subject to customary approvals.  

Equinor Signs $1.8 Billion In Drilling Deals To Keep Oil And Gas Output High

Equinor has extended $1.8 billion worth of drilling and well services supplier contracts as the Norwegian energy major looks to keep high oil and gas production offshore Norway and deliver stable energy volumes to Europe. Equinor is extending key supplier agreements worth a total of $1.8 billion (17 billion Norwegian crowns), by exercising one-year options under three contracts for integrated drilling and well services, as well as two-year options under 18 corporate framework agreements for specialist services linked to these deliveries, the company said on Monday. The local units of top oilfield services providers Baker Hughes, Halliburton, and SLB have been awarded the contracts for integrated drilling and well services. These firms and 15 other suppliers have also been awarded corporate framework agreements for specialist services. “New wells are expected to account for around 70 percent of Equinor’s production in 2035,” said Rune Nedregaard, Equinor’s senior vice president for Wells. “This involves both more wells and more well interventions, which must be delivered faster and significantly more cost-efficiently than today.” Equinor plans to drill 20 to 30 exploration wells every year, the company said early this year when it was awarded 35 new production licenses on the Norwegian continental shelf in the tender for mature exploration areas. A total of 80% of the exploration will be near existing infrastructure, while 20% will explore new concepts and lesser-known areas, the Norwegian energy major said. “There is still a lot of energy left on the NCS, but we need new discoveries to curb the expected production decline,” commented Jez Averty, Equinor’s senior vice president for subsurface, the Norwegian continental shelf. “Phasing in oil and gas from new discoveries to existing infrastructure is a core task going forward,” Averty added. Despite the best exploration results in four years in 2025, Norway will need even more exploration and discoveries, as well as investment in new oil and gas projects, to reverse an expected decline in output from the late 2020s, the Norwegian Offshore Directorate said earlier this year.

Nigeria: Two IBEDC Workers Abducted In Ogun

Ibadan Electricity Distribution Company Plc (IBEDC) has confirmed that two of its staff members in the Ogun region were abducted on Wednesday, April 29, 2026, and have not yet been found.

The company confirmed the unfortunate incident in a statement issued on Monday, May 4, 2026.

The company said it is deeply concerned about the situation, adding that “our thoughts are with our colleagues and their families at this difficult time.”

According to the statement, IBEDC is working closely with relevant security agencies to ensure the safe return of the affected staff.

The company also stated, “We are in active engagement with their families, providing the necessary support.”

“Given the sensitive nature of this incident and ongoing efforts to resolve it, we are unable to provide further details at this time.

“We kindly request understanding and restraint as we prioritize the safety and well-being of those involved,” the statement concluded.

Iran Warns U.S. Army To Stay Away From Strait Of Hormuz

The Islamic Republic of Iran on Monday warned the U.S. Army against entering the Strait of Hormuz, stating that any attempt to do so would be met with a severe response. The warning follows an announcement by U.S. President Donald Trump that the U.S. Navy would guide stranded ships through the restricted waterway. “We warn that any foreign armed forces, especially the aggressive U.S. Army, will be attacked if they attempt to approach or enter the Strait of Hormuz,” said Iran’s main military command, Khatam al-Anbiya Central Headquarters, in a statement. The statement added: “We have repeatedly said that the security of the Strait of Hormuz is in our hands and that the safe passage of vessels must be coordinated with the armed forces.”  

Zambia: ERB Raises Fuel Prices Amid Global Oil Price Surge

Zambians are paying more for fuel after the Energy Regulation Board (ERB) reviewed prices upwards for the month of May.

Following the review, the price of diesel increased to K33.99 per litre from K29.78, kerosene rose to K35.05 per litre from K32.26, and Jet A-1 went up to K37.98 per litre from K34.74. Meanwhile, the pump price of petrol remains unchanged at K27.15 per litre.

In a statement issued by ERB Board Chairperson, the regulator attributed the increase to the continued rise in petroleum product prices on the international market, mainly due to heightened geopolitical tensions in the Middle East.

During the period under review, the price of petrol increased by 5.77%, rising from US$114.51 per barrel in the previous pricing window to US$120.28 per barrel.

Similarly, the price of diesel increased significantly by 23.11%, from US$162.61 per barrel to US$200.19 per barrel, while the price of kerosene/Jet A-1 rose by 17.75%, increasing from US$169.92 per barrel to US$200.08 per barrel.

In the same period, the Zambian kwacha strengthened slightly against the United States dollar, appreciating from K19.44/US$ to K19.16/US$, representing a 1.44% gain.

“This improvement in the exchange rate moderately offset the impact of international oil prices, which would have otherwise resulted in higher domestic fuel prices,” the statement said.

Ghana: Robbers Attack Fuel Station In Sampa, Kill Two And Injure Others

Armed robbers have attacked a fuel station at Sampa, near Jato Zongo in the Atebubu District, killing two people and making away with an unspecified amount of money.

The incident, which occurred on Saturday, May 2, 2026, also left others injured.

The Ghana Police Service confirmed the unfortunate incident in a statement issued on Sunday.

The statement did not mention the name of the fuel station that came under attack.

Following the incident, the Inspector-General of Police (IGP), Mr Christian Tetteh Yohuno, has deployed personnel from the Police Intelligence Directorate (PID) Headquarters and the Anti-Armed Robbery Unit (AARU) to Bono East Region to support ongoing operations and lead a manhunt for the perpetrators behind the robbery.

The Police added: “While we continue to intensify armed patrols in the affected areas, we assure the public that the perpetrators will be arrested and made to face the full rigours of the law.”

IEA Launches Tracker To Monitor Policy Responses To Energy Market Impacts Of Middle East Conflict

The International Energy Agency has launched a dedicated policy tracker to monitor government actions taken in response to the energy market impacts of the conflict in the Middle East. The tracker provides an up-to-date overview of measures introduced by governments to conserve energy and protect consumers from rising prices, as governments respond to supply disruptions and increased volatility, notably in markets for crude oil, oil products and liquefied natural gas (LNG). The conflict, which began on 28 February, has significantly impeded energy trade flows through the Strait of Hormuz, creating the largest supply disruption in the history of the global oil market. Global supply of LNG has also been reduced by around 20% as a result of the situation. The IEA’s new tracker presents two main categories of action: measures aimed at conserving energy and those designed to support consumers. The tracker will be updated regularly as new policies are announced and the situation evolves, providing timely insights into how countries are addressing the crisis. The IEA has also published a menu of demand-side measures that governments, businesses and households can take to shelter consumers from oil price pressures and support energy security. In line with the Agency’s core mandate to safeguard energy security, IEA Member countries unanimously agreed on 11 March to carry out the Agency’s largest-ever coordinated release of emergency oil stocks, making 400 million barrels of oil available to the market to help stabilise supply.

Oil Price Surges As US-Iran Deal Remains Elusive

Oil prices edged higher on Monday, supported by the absence of a U.S.-Iran peace deal, which kept supplies constrained and prices above $100 a barrel. Brent crude futures rose 67 cents, or 0.6%, to $108.84 a barrel at 0400 GMT, after settling down $2.23 on Friday. U.S. West Texas Intermediate (WTI) gained 65 cents, also 0.6%, to $102.59 a barrel, following a $3.13 loss on Friday. “The broader market remains tightly supported by persistent supply disruptions and geopolitical uncertainty,” said Priyanka Sachdeva, analyst at Phillip Nova. “Unless there is a clear and sustained resolution that restores normal flows through the Strait of Hormuz, oil prices are likely to remain elevated, with risks still tilted toward further upside.” President Donald Trump stated that the U.S. would begin efforts to assist ships stranded in the Strait of Hormuz, yet prices remained above $100 a barrel, with no peace deal in sight and shipping through the strategic waterway still constrained. Negotiations between the U.S. and Iran continued over the weekend, with both sides assessing each other’s responses. Trump has made securing a nuclear deal with Tehran a priority, but Iran wants to defer nuclear talks until after the war and until rival blockades on Gulf shipping are lifted. On Sunday, the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, announced it would raise oil output targets by 188,000 barrels per day in June for seven members, marking the third consecutive monthly increase. The rise matches the increase agreed for May, minus the share of the United Arab Emirates, which left OPEC on May 1. However, the additional barrels are expected to remain largely theoretical as long as the ongoing conflict in Iran continues to disrupt Gulf oil supplies through the Strait of Hormuz.

Ghana: ECG Installs High-Capacity Transformers At Ridge Bulk Supply Point In Kumasi To Tackle Outages And Voltage Fluctuations

The Electricity Company of Ghana (ECG) has begun installing two high-capacity power transformers at the Ridge Bulk Supply Point in Kumasi, the Ashanti Regional capital, as part of efforts to reinforce supply reliability across the metropolis. The power distributor is replacing two existing 20/26MVA transformers with upgraded 30/39MVA units, significantly boosting station capacity and easing pressure on the network. This upgrade directly addresses recent intermittent outages and voltage fluctuations in parts of Kumasi, which have been driven by rising demand rather than generation shortfalls. “Kumasi is expanding, and electricity demand is rising with it. This upgrade ensures our infrastructure keeps pace so customers can enjoy more stable and reliable power,” said Julius Kwame Kpekpena, Acting Managing Director of ECG. On-site, the Manager for Substation and Switchgear Maintenance at the Ashanti Sub-Transmission Division described the work as both urgent and complex: “The existing transformers are under pressure. These new units give the system breathing room and improve overall stability.” Teams from the Accra and Ashanti Sub-Transmission Divisions are jointly coordinating the installation. The transformers are scheduled to be installed on May 6 and 7, with energisation planned shortly thereafter. To ensure safe operations, ECG will implement controlled outages on May 6 and 7 between 9:00 AM and 3:00 PM. There will be a temporary shutdown of sections of the 33kV network and managed load distribution on 11kV feeders. ECG has assured customers that the interruptions are carefully planned and limited in duration. “We understand the inconvenience, but these are necessary steps to deliver a more reliable system,” said Collins Manu, Communications Officer of Ashanti Sub-Transmission.

Zambia: Hichilema Unveils 136MW Solar PV, Vows To Reclaim Lost Power Export Market

Zambia’s President, Hakainde Hichilema, has said that the recent drought, which limited the country’s ability to generate power from hydroelectric plants for both domestic consumption and export to neighboring countries, has taught Zambia a painful lesson. In a bid to address the power supply situation, the Head of State said the government is ramping up investments in energy to reclaim the export markets lost to other countries. President Hichilema was speaking during the commissioning of the 136-megawatt Itimpi II Solar Power Plant in Kitwe on Thursday, April 30, 2026. He emphasized that recalling power exports had been costly, allowing competitors to take over Zambia’s markets. “Calling back exports means giving away your market, which you have already secured, and someone else would take it,” President Hichilema said. The President explained that Zambia’s economic growth depends heavily on exports, noting that the local market of about 21 million people is not enough to sustain the country’s ambitions. “We have limited domestic consumer demand, and for us to grow our economy to the levels we want, we have to export,” he said. President Hichilema added that the government is now aggressively pushing to increase electricity generation through a diversified energy mix, with solar power projects like Itimpi II playing a key role. He noted that once Zambia stabilizes its power supply, the country will not only reclaim lost markets but also expand into new ones, particularly in neighboring regions. “Where we sit here, we should be planning for Katanga, Lualaba, and Tanganyika,” he said. Hichilema added that achieving the country’s target of 10,000 megawatts of electricity is critical, especially as sectors such as mining, agriculture, and tourism continue to demand more power. He revealed that the mining sector alone would require about 8,000 megawatts to meet the target of producing three million tonnes of copper. Meanwhile, Copperbelt Energy Corporation (CEC) board chairperson London Mwafulilwa described the commissioning of the 136-megawatt Itimpi II Solar Plant as a historic milestone, not only for the Copperbelt but for Zambia and the region. “This project is not simply a corporate milestone; it is a national statement that Zambia can lead Africa’s clean energy transition,” Mwafulilwa said. The board chairperson disclosed that the project had a direct impact on livelihoods, creating over 2,500 jobs during construction and more than 100 permanent positions for engineers and technicians. CEC Chief Executive Officer Owen Silavwe noted that the 136-megawatt solar plant, built over 14 months, is currently the largest of its kind in the country and will generate about 275 gigawatt-hours of electricity annually. “At a time when it matters most, this project will help close the national power supply gap and support key sectors such as mining and manufacturing,” Silavwe said.

Ghana: President Mahama Recommends Female NSS Personnel For Employment For Role In Restoring Akosombo Generation Station After Fire

A female Electrical and Electronic Engineering graduate, Miss Stephanie Baan, who is currently undertaking her national service at the Ghana Grid Company Limited (GRIDCo), has been recommended for automatic employment by Ghana’s President, John Dramani Mahama. This follows her role in the restoration of the Akosombo Generation Station to the national grid after a fire gutted the GRIDCo substation switchyard at Akosombo on Thursday, April 23, 2026. She was part of a team of engineers and technicians who worked extended hours over a period of about six days to restore all six units of the Akosombo Generation Station—capable of generating 1,020MW—back onto the grid. The fire incident had knocked the entire plant off the national grid, causing severe power outages across the country. President Mahama made the recommendation during his inspection tour of the facility on Thursday, April 30, 2026. He also commended the engineers and technical teams for their swift and coordinated response in restoring power after the incident. According to the President, the NSS personnel demonstrated exceptional dedication and professionalism in the line of duty, contributing significantly to efforts to stabilise the national grid in the aftermath of the disruption. He noted that such commitment should not go unnoticed, stressing the need to reward young professionals who go above and beyond in service to the nation. The Energy Minister, John Jinapor, also praised the engineers and support staff for their tireless work, which led to the successful restoration of electricity within a short period. He further disclosed that MTN Ghana has pledged a donation of one million Ghana cedis worth of airtime and data to the engineers involved, as a token of appreciation for their dedication and sacrifice.