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APUA Meeting Ends With Call For Greater Collaboration Among African Utilities

Ghana: PETROSOL Secures Approval To Raise Capital on Ghana Stock Exchange
PETROSOL Platinum Energy PLC, one of the leading oil marketing companies has received approval from the Ghana Stock Exchange and the Securities and Exchange Commission to raise long-term capital through the Ghana Stock Exchange, Managing Director Michael Bozumbil said.
The approval marks a milestone for the company, which has evolved over two decades from a petroleum consulting firm into an indigenous oil marketing company in Ghana.
“After a thorough assessment of PETROSOL’s business, including our governance systems, our compliance level, our credibility and growth plans, the Ghana Stock Exchange and the Securities and Exchange Commission have approved our request to raise patient capital on the stock exchange for our growth,” Bozumbil said at the Ghana International Petroleum Conference in Accra.
He said the proceeds would fund the company’s long-term expansion strategy, including investments in renewable energy, solar power and electric vehicle charging infrastructure.
“We have a clear plan to grow sustainably. We will continue to look for opportunities and the right partnerships to invest in the energy sector through innovation while taking advantage of government policies to expand our operations and deliver clean, long-lasting fuel and renewable energy solutions to our customers,” he said.
Founded in 2006 as a petroleum business management and consulting firm, PETROSOL entered the oil marketing business in 2014, benefiting from government policies aimed at increasing indigenous participation in Ghana’s downstream petroleum sector.
The company now operates more than 100 fuel stations across Ghana and employs about 490 people.
Bozumbil attributed PETROSOL’s growth to corporate governance, prudent financial management and regulatory compliance despite challenging economic conditions.
He said the company has obtained three International Organization for Standardization (ISO) certifications covering quality management, occupational health and safety, and environmental management.
It has also received recognition from the Ghana Revenue Authority for tax compliance and remains in good standing with the National Petroleum Authority, the Environmental Protection Agency and the Ghana Standards Authority.
Beyond its petroleum business, PETROSOL is investing in renewable energy and plans to install electric vehicle charging stations at selected service stations as part of Ghana’s energy transition.
Bozumbil said policy consistency remains critical to enabling indigenous companies to compete with multinational firms in Ghana’s downstream petroleum sector.
“As an indigenous company that has benefited from the consistent implementation of government policies promoting the growth of indigenous private companies, we believe collaboration and policy consistency are critical to building a resilient downstream petroleum industry,” he said.
He said PETROSOL’s sponsorship of the 2026 Ghana International Petroleum Conference reflected its commitment to supporting industry dialogue and encouraging innovation, investment and sustainable growth.
Looking ahead, Bozumbil said the company would continue expanding its retail fuel network, growing its renewable energy business and creating jobs.
“We will continue to invest for growth. PETROSOL will remain a value-for-money brand, a good corporate citizen and an employer of choice. We will continue to energise dreams, ignite hope and power individuals and businesses to achieve their aspirations in an environmentally sustainable and ethical manner,” he said.
The planned capital raise is expected to strengthen PETROSOL’s financial position and broaden investment opportunities in Ghana’s capital market, the company said.Ghana: Genser Energy Buys Back Oppenheimer Partners’ Stake As Investor Exits After Five Years
Founded in 2006, Genser Energy has grown into one of West Africa’s integrated energy companies, supplying electricity to industrial customers and utilities while investing in natural gas infrastructure.
Before Oppenheimer Partners’ investment, the company had developed five operating power plants and a 325-km natural gas pipeline network, becoming a key supplier of energy to Ghana’s industrial sector.
During the investment period, Genser expanded its infrastructure by adding about 110 km of natural gas pipeline, constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea and entering Côte d’Ivoire through cross-border electricity exports.
“This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,” Baafour Asiamah Adjei, the company’s founder, president and chief executive, said.
Chairman Nana Osae Nyampong said the buyback would enable the company to focus on its next phase of growth.
“As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,” Nyampong said.
The transaction comes as infrastructure investors increasingly target Africa’s energy sector, where rising industrial demand and regional power integration are driving investment in gas pipelines, power generation and cross-border electricity trade.
Genser said it remains positioned for further expansion through continued investment in strategic energy infrastructure across West Africa.
The company operates more than 310 megawatts of installed generation capacity and owns a 436-km privately developed natural gas pipeline network in Ghana.
It is also completing major midstream projects, including a gas conditioning plant and a natural gas liquids export terminal, while supplying power to industrial customers and utilities and participating in regional electricity exports.
U.S. Says It has Assisted More Than 1,000 vessels Through Strait Of Hormuz In Past Three Months
U.S. forces have assisted more than 1,000 commercial vessels transiting the Strait of Hormuz over the past three months despite what Washington described as Iranian aggression, U.S. Central Command (CENTCOM) said on Tuesday.
In a post on Facebook, CENTCOM said the assisted transits were continuing as of Tuesday and that the southern shipping route through the Strait of Hormuz remained open to commercial traffic.
“The southern route through the Strait of Hormuz remains free and open for all commercial vessels seeking to transit the international waterway,” the command said.
The Strait of Hormuz is one of the world’s most strategically important maritime chokepoints, carrying a significant share of global seaborne crude oil and liquefied natural gas exports.
The recent conflict involving the United States, Israel and Iran disrupted global oil supplies, driving up fuel prices and affecting economies around the world.
The U.S. military has stepped up its presence in the region in recent months to help safeguard commercial shipping amid heightened tensions involving Iran and concerns over maritime security.South Africa: Eskom Backs Plan For Independent Transmission Operator, Seeks Safeguards For Finances
Zambia: Energy Ministry Says Power Generation Capacity Grew By Record Amount Over Past Five Years
Zambia has added more electricity generation capacity to its national grid over the past five years than during any other five-year period in the previous 15 years, the Ministry of Energy said.
Installed electricity generation capacity increased to 4,576 megawatts in 2026 from about 3,100 megawatts in 2021, an increase of 1,476 megawatts, the ministry said.
By comparison, projects completed between 2011 and 2021 added about 987 megawatts of generation capacity to the national grid.
The increase was driven by the completion of the remaining generating units at the Kafue Gorge Lower hydropower plant, together with a rapid expansion of solar generation and other power projects commissioned across the country.
Installed solar generation capacity rose to about 841 megawatts from around 88 megawatts in 2021. The government is targeting 1,000 megawatts of installed solar capacity by the end of the year.
The ministry said the expansion of generation capacity is continuing, with several major projects under construction or at advanced stages of development.
These include Maamba Phase II, the Gwembe Solar Project, Evergreat Thermal Power Station, Ezra Thermal Power Station and the Presidential Constituency Energy Initiative.
As these projects are completed, Zambia’s installed generation capacity is expected to increase further, the ministry said.
President Hakainde Hichilema has set a target of increasing the country’s installed electricity generation capacity to 10,000 megawatts by 2031.
If the current pipeline of projects is completed as planned, the next five years are expected to deliver the largest expansion of electricity generation capacity in Zambia’s history, supporting energy security and economic growth, the ministry said.
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BP Completes Sale Of Gelsenkirchen Refinery To Klesch Group
BP has completed the sale of its Gelsenkirchen refinery and related businesses to Klesch Group, the company said.
The British oil major said the sale is in line with its focus on disciplined capital allocation and is expected to reduce underlying operating expenditure by about $1 billion.
“This deal strengthens our balance sheet and simplifies our portfolio. By concentrating our capital on the assets and markets where BP can be most competitive, we are building a higher-value, more resilient downstream business that continues to supply the fuels and products our customers rely on,” Richard Harding, BP’s interim executive vice president for downstream, said.
Based on historical performance, the transaction is expected to be accretive to free cash flow and transfers the associated assets and liabilities to Klesch Group.
“Gelsenkirchen plays an important role in supplying western Germany with fuels and petrochemicals. With its refining experience and established presence in Germany, Klesch Group is well placed to take Gelsenkirchen into its next chapter. BP will continue to support customers in Germany through its businesses, including Aral,” Patrick Wendeler, BP’s head of country for Germany, said.
BP said the sale follows its conclusion that a new owner would be better placed to develop the refinery and support its long-term future. Employees at the refinery and the associated businesses have transferred to Klesch Group as part of the transaction.
Following the sale, BP retains a refining portfolio of five refineries serving key customers and markets across its downstream business: Cherry Point and Whiting in the United States, and Castellón, Lingen and Rotterdam in Europe.
Shell Signs Deal To Sell European Onshore Renewables Portfolio To TotalEnergies
Shell has signed a sale and purchase agreement with TotalEnergies to sell its European onshore renewables portfolio.
The portfolio includes development-stage and operational assets in Italy, the Netherlands, Spain and the United Kingdom.
The deal reflects Shell’s strategy of actively managing and upgrading its power portfolio, in line with the strategy outlined at its 2025 Capital Markets Day, Machteld de Haan, President of Downstream, Renewables and Energy Solutions, said.
“We are recycling capital and prioritising areas where we have differentiated capabilities and can create the most value over time, including through asset-backed power trading and customer-focused energy solutions,” de Haan said.
The transaction is subject to regulatory approvals and is expected to close by the end of 2026. “In line with our strategy, these two transactions enable us to optimise our capital allocation in renewables while continuing to deploy our integrated power strategy. The acquisition of Shell’s onshore renewables assets in Europe strengthens our power generation position in selected deregulated markets across Europe and supports the implementation of our integrated strategy across the electricity value chain. It also complements the flexible generation capacity of the gas-fired power plants of TTEP, our joint venture with EPH, particularly in Italy, the Netherlands and the United Kingdom,” said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies.OPEC+ To Raise Oil Production Quota By 188,000 Bpd From September
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to increase their oil production quota by 188,000 barrels per day (bpd) from September, the group said on Sunday.
In a statement, OPEC said the decision was reached during a virtual meeting of the seven member countries that had previously implemented additional voluntary production cuts in April and November 2023.
The countries are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
The group said it reviewed global oil market conditions and the outlook before agreeing to adjust production levels.
Under the agreement, Saudi Arabia and Russia will each increase production by 62,000 bpd, Iraq by 26,000 bpd, Kuwait by 16,000 bpd, Kazakhstan by 10,000 bpd, Algeria by 6,000 bpd and Oman by 5,000 bpd.
“In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023,” OPEC said.
The production increase will take effect in September.
The group said the adjustment would also provide an opportunity for participating countries to accelerate compensation for previous overproduction.
“The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation,” the statement said.
The countries reaffirmed their commitment to full compliance with the Declaration of Cooperation, including the additional voluntary production adjustments monitored by the Joint Ministerial Monitoring Committee (JMMC).
They also reiterated their intention to fully compensate for any excess production recorded since January 2024.
OPEC said the seven countries would continue to meet monthly to review market conditions.
The next OPEC+ meeting is scheduled for September 6.


