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LATEST ARTICLES
Ghana: Eni Completes Upgrading Of Offshore Gas Receiving Facility; Increases Supply By 25 MMscfd
The Italian oil and gas firm Eni has successfully completed the upgrading of its Offshore Gas Receiving Facility, increasing gas supply for power generation from 245 million standard cubic feet per day (MMscfd) to 270 MMscfd.
The facility was shut down on Sunday, July 13, 2025, to pave way for the upgrading.
A statement from the Ministry of Energy and Green Transition, which confirmed the completion of the exercise, stated that this enhancement in gas supply is a significant step towards ensuring a reliable and sustainable energy supply for the nation.
“The increased capacity will support the power sector and contribute to the overall economic growth of Ghana,” the ministry said.
The Ministry expressed its gratitude to Eni and all power sector players for their dedicated efforts in facilitating this critical upgrade.
He also thanked Ghanaians for their cooperation and understanding during the project’s implementation.
“Your support is invaluable as we work together to build a brighter energy future.”
The Ministry reiterated its unwavering commitment to providing a consistent power supply for all Ghanaians.
Source: https://energynewsafrica.com
Zambia: Energy Forum For Africa 2025 Launched With Call For Stronger Investment And Partnerships
The Zambian Minister for Energy, Makozo Chikote, has reaffirmed the country’s commitment to driving investment and collaboration in the energy sector. He described the upcoming Energy Forum for Africa (EFFA) 2025, taking place in Zambia from September 10th to 12th, as a critical platform to unlock the region’s vast potential.
He emphasized that EFFA is not just a conference but a catalyst for concrete action through public-private partnerships.
“This year’s theme, ‘Investment Opportunities in the Energy Sector in Zambia and Africa,’ reflects our conviction that with the right policies and partnerships, we can translate ambition into bankable, sustainable energy projects,” Mr. Chikote said in a speech read for him by Minister of Sport, Youth, and Arts Elvis Nkandu.
Mr. Chikote outlined progress made by the Ministry, including reforms to improve transparency, streamline licensing, expand grid access, and promote cross-border energy trade.
A major milestone was the recent commissioning of the 100-megawatt Chisamba Solar Power Plant by KNBEPC, a project that emerged from discussions at EFFA 2024 and now stands as one of Zambia’s largest solar installations.
Mr. Chikote added that ZESCO Limited has signed Power Purchase Agreements with solar developers for over 1,000 megawatts, but many projects still need financing. He said EFFA 2025 would serve as a bridge between developers and financiers to unlock this potential.
Forum Chief Executive and Convener, Eng. Hope Chanda, said the forum is designed to deliver practical solutions to challenges facing Zambia’s energy sector.
She highlighted the recent launch of the open access policy as another key step towards opening the grid and encouraging competition.
She called on the media to highlight these success stories and urged new partners to take an active role in shaping the future of energy in Zambia and Africa.
EFFA 2025 is expected to attract leading energy players, policymakers, investors, and financiers from across Africa and beyond, all working to accelerate sustainable energy development for the continent.
Source: https://energynewsafrica.com
Malawi: ESCOM Secures $2.15 Million Funding For Power Interconnection Project With Tanzania
Malawian electricity supply is expected to witness significant improvement leading to an end to persistent blackouts, according to a report by Nyasa Times, citing the approval of a $2.15 million (approximately MWK 3.6 billion) grant for the Tanzania-Malawi (TAMA) Electricity Interconnection Project.
The financing, approved by the Multilateral Cooperation Centre for Development Finance (MCDF), will be used to update the feasibility and Environmental and Social Impact Assessment (ESIA) studies for a proposed 400kV power transmission line linking Iganjo Substation in Tanzania to Nkhoma Substation in Lilongwe, Malawi.
The grant application was submitted jointly by the governments of Malawi and Tanzania through the African Development Bank (AfDB), which has congratulated both ESCOM and Tanzania’s TANESCO on the successful proposal.
The Chief Executive Officer of Electricity Supply Company of Malawi (ESCOM), Mr. Kamkwamba Kumwenda, described the grant as a “major step forward” in the country’s long-term energy strategy.
“We had already begun preparatory work, including the establishment of the Nkhoma Substation, which will anchor the interconnector line on our side,” Kumwenda said.
“This funding will allow us to assess the viability and benefits of this important infrastructure project, which has the potential to transform energy reliability in Malawi and across the region.”
The TAMA project comes as Malawi nears the completion of the Malawi-Mozambique (MOMA) Interconnector, expected to start operations before the end of the year and supply 50 megawatts of electricity.
Once implemented, the TAMA Interconnector will further stabilize the national grid and improve cross-border electricity trade.
The updated studies will build on earlier assessments conducted by ESCOM in 2008 and TANESCO in 2022. The feasibility and ESIA studies are expected to begin in February 2026 and take 12 months to complete.
Meanwhile, ESCOM will begin the procurement process for a consulting firm to undertake the work.
The project aligns with ESCOM’s long-term vision of becoming a provider of reliable, inclusive, and affordable power for Malawi and the wider region.
Source: https://energynewsafrica.com
Ghana: Bui Power Authority, UEGCL Sign MoU To Share Knowledge And Expertise
The Bui Power Authority (BPA), a state-owned power generation company in Ghana, has signed a Memorandum of Understanding (MoU) with the Ugandan Electricity Generation Company Limited (UEGCL) to share knowledge and exchange expertise.
The MoU was signed during the 5th International Conference and Exhibition on Water Storage and Hydropower Development for Africa, held at the Labadi Beach Hotel in Accra.
The Chief Executive Officer of Bui Power Authority, Ing. Kow Eduakwa Sam, signed the Memorandum of Understanding on behalf of BPA, while Dr. Harrison E. Mutikanga, the Chief Executive Officer (CEO) of Uganda Electricity Generation Company Limited (UEGCL), initialed on behalf of his company.
BPA, established in 2007, constructed Ghana’s second-largest hydroelectric power dam, which was operationalized in 2013.
UEGCL, incorporated in March 2001, began full operations in April of the same year.
BPA owns, operates, and maintains the 404MW Bui hydropower plant, a 250MWp solar-hydro hybrid PV plant, a 5MWp floating solar plant, and the 45kW Tsatsadu micro-hydropower plant.
UEGCL, on the other hand, owns, operates, and maintains the Ugandan government’s hydropower plants, including Karuma (600MW), Nalubaale (180MW), Kiira (200MW), and the 500MW Namanve heavy fuel oil thermal power plant.
The MoU sets the stage for the parties to develop and implement an exchange program aimed at building knowledge and skills in several areas of the electricity supply industry, with a key focus on the generation segment. This partnership will enable both companies to learn from each other’s experiences.
Notably, BPA is the first company in Africa to install floating solar, making it a suitable partner for UEGCL as they also seek to invest in similar projects at their hydropower generation stations.
BPA’s floating solar plant sets Ghana as the first country in West Africa to develop such a project, executed by young Ghanaian engineers and operational since June 2023.
Source:https://energynewsafrica.com
Ghana: PURC Undertakes Investment Hearing For Utility Service Providers
The Public Utilities Regulatory Commission (PURC) held its maiden investment hearing for utility providers from Monday, July 7 to Thursday, July 10, 2025, at the Alisa Hotel in Accra’s North Ridge.
The hearing was part of the Commission’s regulatory reform efforts to ensure a detailed and in-depth review of utility providers’ investments for the 2025-2030 major tariff review process.
The Executive Secretary, Dr. Shafic Suleman, explained in his opening remarks that the investment hearing is unique and novel, the first of its kind in Ghana, aimed at complementing the Commission’s efforts to ensure transparency in its processes.
The Commission held the investment hearing with key utility service providers as part of its regulatory reform agenda, which aims to enhance transparency and ensure prudent capital expenditure ahead of the 2025-2030 major tariff review process.
Dr. Shafic Suleman noted that the hearing forms a critical part of the Multi-Year Tariff Order (MYTO) process. The investment hearing brought together major stakeholders, including the Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCo), Northern Electricity Distribution Company (NEDCo), Ghana Water Limited (GWL), and Enclave Power Company (EPC), to present their finalized investment plans to the Commission.
“This process started in February 2025, where we had the preliminary investment hearing from all the utilities. They made presentations to us, and we reviewed their investment plans, providing feedback where necessary. Today, they are making their final investment plans presentation to the Commission,” Dr. Suleman added.
He stated that the process has involved several stages of evaluation and feedback, aiming to establish a regulated asset base and identify critical investments needed in the utility sector for the next three years. This ensures that only justifiable expenditures are factored into future tariff adjustments.
According to Dr. Suleman, the investment hearing is part of PURC’s broader reforms to deepen oversight in Ghana’s utility sector.
By carefully evaluating investment proposals before approving tariff adjustments, the Commission aims to protect consumer interests while promoting sector sustainability.
The panel, chaired by Prof. Ebenezer Bugri Anarfo, Commissioner and Chairperson of the Investment Hearing Panel, led the assessment and cross-examination of the proposed investments to ensure alignment with national regulatory benchmarks.
The Board Chairman, Hon. Moses Asaga, emphasized the importance of the investment hearing and thorough review process in his concluding remarks.
He encouraged open discussion among team members from the utility service providers, focusing on investment proposals and sector developments that guide consumer, utility, and investor interests, as well as utility sector sustainability.
The Commission will provide a final decision on admitted investments. Team members were also encouraged to coordinate and address questions effectively. The meeting discussed investment guidelines and planning for the upcoming rate control period from 2025 to 2030.
“The Commission shared guidelines for investment submissions in 2024, which utilities will use to plan and justify their investment proposals. The panel will submit a report to the Commission detailing recommended investments and those not recommended, for the Commission to communicate interim positions,” Hon. Asaga added.
Source: https://energynewsafrica.com
Dr. Shafic Suleman noted that the hearing forms a critical part of the Multi-Year Tariff Order (MYTO) process. The investment hearing brought together major stakeholders, including the Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCo), Northern Electricity Distribution Company (NEDCo), Ghana Water Limited (GWL), and Enclave Power Company (EPC), to present their finalized investment plans to the Commission.
“This process started in February 2025, where we had the preliminary investment hearing from all the utilities. They made presentations to us, and we reviewed their investment plans, providing feedback where necessary. Today, they are making their final investment plans presentation to the Commission,” Dr. Suleman added.
He stated that the process has involved several stages of evaluation and feedback, aiming to establish a regulated asset base and identify critical investments needed in the utility sector for the next three years. This ensures that only justifiable expenditures are factored into future tariff adjustments.
According to Dr. Suleman, the investment hearing is part of PURC’s broader reforms to deepen oversight in Ghana’s utility sector.
By carefully evaluating investment proposals before approving tariff adjustments, the Commission aims to protect consumer interests while promoting sector sustainability.
The panel, chaired by Prof. Ebenezer Bugri Anarfo, Commissioner and Chairperson of the Investment Hearing Panel, led the assessment and cross-examination of the proposed investments to ensure alignment with national regulatory benchmarks.
The Board Chairman, Hon. Moses Asaga, emphasized the importance of the investment hearing and thorough review process in his concluding remarks.
He encouraged open discussion among team members from the utility service providers, focusing on investment proposals and sector developments that guide consumer, utility, and investor interests, as well as utility sector sustainability.
The Commission will provide a final decision on admitted investments. Team members were also encouraged to coordinate and address questions effectively. The meeting discussed investment guidelines and planning for the upcoming rate control period from 2025 to 2030.
“The Commission shared guidelines for investment submissions in 2024, which utilities will use to plan and justify their investment proposals. The panel will submit a report to the Commission detailing recommended investments and those not recommended, for the Commission to communicate interim positions,” Hon. Asaga added.
Source: https://energynewsafrica.com Uganda: UEDCL Celebrates 100 Days Achievement After Takeover From Umeme In April
Ugandan Electricity Distribution Company Limited (UEDCL) has marked 100 days after taking over electricity distribution from Umeme in April this year, emphasizing stability in power supply across the country since the takeover.
Giving an account of their first 100 days, UEDCL Managing Director Paul Mwesigwa said they have reached great milestones since taking over from Umeme over three months ago.
“We have managed to achieve stability in the vending and billing system, and our customers have not experienced any material issues. The cash collection is at 104%. That’s good progress for a good institution and distributor in general,” Mwesigwa said.
“We are creating a healthy energy sector. We have paid 100% of our bills, and generators can be financed. Total payments to the transmitter since the takeover in April are Shs220 billion, already paid to UETCL. With the few activities we’ve done so far, we’ve demonstrated improved reliability, and overall, by the end of June, it stands at 97.7% compared to 97.1% in March.”
According to Paul Mwesigwa, they have replaced about 116 outdated transformers, noting that they will soon replace more.
“There are more transformers failing, and we’re going to install more than 518 transformers so that people get a steady supply and good voltage,” Mwesigwa said.
He noted that they have streamlined the procurement process with the Public Procurement and Disposal of Public Assets (PPDA) to ensure the process of acquiring new transformers is efficient.
“If you need a transformer, the process is very easy, and you shouldn’t expect significant delays in our service delivery.”
The UEDCL boss said they have maintained the call center, and all channels of communication are available.
The UEDCL Managing Director said that as part of their ongoing efforts, they have started upgrading the network to solve the problems of load shedding.
Mwesigwa said they have established overload but also worked on some lines like the Kawanda-Matugga, Mbarara North transformer, Kabale-Kisoro, and Kakiri.
“We’re seeing stability in those areas.”
He, however, said they have also identified 11 critical substations that are loaded over 80%, noting that this causes load shedding in areas served by these substations.
Mwesigwa said they are working on solving this problem.
Commenting on the progress of UEDCL’s work, Energy Minister Ruth Nankabirwa hailed the company for proving the naysayers wrong.
“The country has not plunged into darkness as many had thought. We’re moving forward with supplying and selling power. UEDCL has paid 100% for the power it has bought. This is successful execution of the job,” Nankabirwa said.
“I’m proud of UEDCL’s first 100 days. My ministry will continue to support UEDCL to ensure it’s fit for the job.”
Source: https://energynewsafrica.com
Ghana: ECG Embarks On Operation ‘All Must Pay’ Exercise From July 14
The Electricity Company of Ghana Limited has announced that it will embark on a nationwide revenue mobilization exercise effective Monday, July 14, 2025, to recover all outstanding debts owed to them by customers.
The exercise, which will focus on all categories of customers with arrears—residential, commercial, industrial, and Ministries, Departments, and Agencies—is expected to end on Friday, July 25, 2025.
According to ECG, the exercise will be monitored by special teams who will apprehend and prosecute customers who attempt to interfere with the exercise, engage in illegal connections, or undertake self-reconnections after disconnection.
ECG urged customers with arrears to pay their bills now to avoid disconnection and payment of reconnection fees.
“We encourage customers to use their regular channels, including the ECG Mobile App, to pay their bills,” ECG said.
Source: https://energynewsafrica.com
South Africa: Shell Obtains Permission To Drill For Oil And Gas Offshore
Shell has received environmental authorization to drill up to five deepwater wells to explore for oil and gas off the west coast of South Africa.
“Should viable resources be found offshore, this could significantly contribute to South Africa’s energy security and the government’s economic development programmes,” the supermajor said in a statement carried by Reuters.
The company did not provide details of the drilling plans.
Shell applied last year for environmental authorizations to drill ultra-deepwater wells offshore South Africa, targeting drilling in the Northern Cape Ultra Deep Block (NCUD) in the Orange Basin off South Africa’s west coast.
Previous attempts by Shell to drill offshore South Africa have ended up in court as environmental campaigners have challenged oil and gas exploration activities.
Analysts believe some offshore formations that South Africa shares with the offshore areas of Namibia – the latest deepwater exploration hotspot – could hold great resource potential.
Shell and another supermajor, TotalEnergies, have already made large discoveries offshore Namibia, in the same Orange Basin that spans South African and Namibian waters.
The basin extends to South African waters to the south and the majors are now looking to tap into these areas hoping to find huge resources similar to the ones in the Namibian portion of the Orange Basin.
However, red tape and court challenges to drilling offshore South Africa have impeded the majors from exploration off the country’s west coast.
While South Africa struggles to launch a domestic exploration and production sector, Namibia is weighing potential further incentives and financing options to offer to international majors preparing plans for oil production offshore the African country.
Namibia looks at financing mechanisms, including credit support instruments and partnerships with international lending institutions, Kornelia Shilunga, special adviser and head of upstream petroleum unit in the Namibian Presidency, told Bloomberg last month.
Namibia expects TotalEnergies and Norway’s BW Energy to take final investment decisions on oil projects in late 2026, a senior Namibian official said in May.
Source: Oilprice.com
Ghana: Energy Minister Allays Fears As Eni Shuts Down Offshore Gas Receiving Facility This Sunday For Upgrading
Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, has announced that robust contingency measures have been put in place to ensure uninterrupted power supply during the shutdown of Eni’s Offshore Gas Receiving Facility for upgrading this Sunday, July 13, 2025.
The shutdown will pave the way for Eni to increase its gas supply for power generation by an additional 25 mmscfd, bringing the total gas supply from its facility to 270 mmscfd.
Minister Jinapor’s assurance follows a high-level meeting on Friday with major stakeholders in Ghana’s energy sector.
The meeting brought together representatives from Eni, the Ghana Grid Company Ltd (GRIDCo), Petroleum Commission, Electricity Company of Ghana (ECG), Ghana National Petroleum Corporation (GNPC), and the Volta River Authority (VRA).
The session focused on re-evaluating the potential implications of the temporary shutdown and strategies in place to mitigate any disruptions to power supply.
Hon. Jinapor reiterated the government’s unwavering commitment to maintaining stable and reliable power, especially during critical periods such as this.
“The power sector is the backbone of our economy, and we are leaving no stone unturned in ensuring that this upgrade does not adversely affect Ghanaians,” he stated.
He assured the public that all relevant agencies are working closely to implement a comprehensive mitigation plan.
“I urge the public to remain calm. I can assure the people of Ghana that adequate measures are in place to ensure minimal or no disruption to the power supply,” the Minister added.
The Ministry also pledged to keep the public informed with timely updates throughout the shutdown period.
Source: https://energynewsafrica.com
The session focused on re-evaluating the potential implications of the temporary shutdown and strategies in place to mitigate any disruptions to power supply.
Hon. Jinapor reiterated the government’s unwavering commitment to maintaining stable and reliable power, especially during critical periods such as this.
“The power sector is the backbone of our economy, and we are leaving no stone unturned in ensuring that this upgrade does not adversely affect Ghanaians,” he stated.
He assured the public that all relevant agencies are working closely to implement a comprehensive mitigation plan.
“I urge the public to remain calm. I can assure the people of Ghana that adequate measures are in place to ensure minimal or no disruption to the power supply,” the Minister added.
The Ministry also pledged to keep the public informed with timely updates throughout the shutdown period.
Source: https://energynewsafrica.com Ghana: Former Deputy CEO Of Ghana National Petroleum Corporation Graduates With Ph.D.
A former Deputy Chief Executive Officer of Ghana National Petroleum Corporation (GNPC) in charge of Finance and Administration, Benjamin Kweku Acolatse Esq. has graduated with a Ph.D. in Business Administration from NiBS University in Accra.
NiBS University is Africa’s premier Doctoral School, affiliated with the Ghana Institute of Management and Public Administration (GIMPA), one of the best public schools in Ghana.
His thesis focused on “Effect of Corporate Environmental Sustainability on Dimensions of Firm Performance in the Energy Sector: The Roles of Market Orientation and Regulatory Awareness.”
Mr. Acolatse is a distinguished professional with numerous certifications, including being a Lawyer, Chartered Accountant, Chartered Management Consultant, and Computer Systems Analyst.
He holds a Master of Laws (LLM) from the University of London, among other qualifications.
With over 24 years of working experience in administration, Mr. Acolatse has held various positions, including General Manager of A-life Company Limited and Mechanical Lloyd Company Limited.
He is a Managing Partner of BE Law Consult and previously served as Deputy CEO at the Ghana Railway Development Authority before joining GNPC.
Source:https://energynewsafrica.com
Mr. Acolatse is a distinguished professional with numerous certifications, including being a Lawyer, Chartered Accountant, Chartered Management Consultant, and Computer Systems Analyst.
He holds a Master of Laws (LLM) from the University of London, among other qualifications.
With over 24 years of working experience in administration, Mr. Acolatse has held various positions, including General Manager of A-life Company Limited and Mechanical Lloyd Company Limited.
He is a Managing Partner of BE Law Consult and previously served as Deputy CEO at the Ghana Railway Development Authority before joining GNPC.
Source:https://energynewsafrica.com Tanzania: There Is Enough Electricity Generation – Says Dr. Biteko
Tanzanian Deputy Prime Minister and Minister for Energy, Hon. Dr. Doto Biteko, has stated that Tanzania generates enough electricity to power the economy, citing the Julius Nyerere Dam Project (JNHPP), which alone produces 2,115 megawatts.
Besides the Julius Nyerere Dam Project, the East African nation has developed natural gas electricity generation plants like Kinyerezi I, Kinyerezi II, and Kinyerezi III, which is expected to be expanded.
Speaking during an inspection of the Kinyerezi project site on Thursday, July 10, 2025, Dr. Biteko noted that despite the great work being done by TANESCO, some parts of the country still face the challenge of getting electricity.
According to Dr. Biteko, to meet the demand for electricity, TANESCO will expand Kinyerezi III Station’s generation from 600 megawatts to 1,000 megawatts to match population growth.
“I want to say before you, my brothers, Hon. President Samia has made significant investments in the energy sector, and that’s why in the previous budget, this ministry received 2.3 trillion shillings,” said Dr. Biteko.
“The big thing is that she wants citizens to get reliable electricity.”
He used the opportunity to congratulate TANESCO for the immense improvements being made in serving customers, especially their promptness in addressing power emergencies.
“There are great improvements that have been made in serving citizens. I see great efforts being made. You have been quick to address electricity challenges, and I also congratulate you for strengthening the call center; now citizens are being served free of charge,” Dr. Biteko said.
Source: https://energynewsafrica.com
Ghana’s 24-Hour Economy Policy: Energy Demand, Supply, And Investment Requirements(Article)
By: Benjamin Nsiah
Ghana’s 24-hour economy policy aims to transform the nation into a round-the-clock hub for industry, commerce, and services, boosting productivity and economic growth.
However, this ambitious vision depends on reliable and sustainable electricity supply.
The feasibility of the program depends on electricity demand and supply, as the policy is a manufacturing-led initiative involving agro-processing and industrial parks across the country.
Therefore, it is essential to assess energy needs against supply. This assessment uses two scenarios: Business as Usual (BAU) and the 24-Hour Economy Policy.
The baseline total energy demand for 2025, as indicated by the Energy Commission, is likely 25,836 GWh, with a peak demand of 4,125 MW.
Against this, Ghana’s installed capacity stands at 5,260 MW, with a dependable capacity of 4,856 MW, reflecting a reserve margin of about 18%.
Under the BAU scenario, demand will peak at 6,150 MW by 2030, implying an average annual peak demand increase of 405 MW from 2025.
Based on this projection, Ghana will exhaust its dependable capacity by 2027 and its installed capacity by 2028.
Without new investments in power generation, Ghana could face Dumsor (power outages) by 2028, even without the 24-hour economy policy.
The 24-hour economy policy introduces new infrastructure demands, including 50 industrial parks (e.g., Kumasi Machinery Park, Legon Pharma Park), agro-ecological zones, and digital hubs as well as behavioral change (Night shift).
Successful implementation in the medium to long term depends on stable baseload supply or off-grid renewable solutions.
If current peak demand issues are not addressed, the policy’s sustainability will be at risk.
Factoring in the policy’s impact, Ghana’s peak demand by 2030 would rise to 9,150 MW, with an average annual increase of 600 MW.
To sustain the policy, Ghana must increase power generation by at least 1,200 MW by 2027.
This additional capacity would support: 20 agro-industrial parks (10 MW each), 40 agro-ecological zones (5 MW each), 50 digital centers (2 MW each), Night shifts and BAU demand (400 MW).
Failure to secure 1,200 MW of additional power by 2027 could lead to a crisis caused by excess demand.
Expanding capacities in alignment with future demand is projected to cost about $2 billion dollars by 2027 and about $7 billion by 2030. Improving the grid (transmission and other support infrastructure) will cost about $3 billion between 2026 to 2025.
This means that by 2030, Ghana is expected to expend about $10 billion into areas of electricity expansion, improvement in grid infrastructure, developing off grid solutions and ensuring system efficiency so as to sustainable implement the policy.
Source: Benjamin Nsiah, Executive Director
Center for Environmental Management and Sustainable Energy (CEMSE)
OPEC Predicts Global Oil Demand To Reach 123 Million Barrels Per Day By 2050
The Organization of the Petroleum Exporting Countries (OPEC) has released its World Oil Outlook (WOO), forecasting robust growth in global oil demand, reaching nearly 123 million barrels per day (mb/d) by 2050.
According to the report, the world will require more energy in the coming decades, with global energy demand expected to increase by 23% by 2050.
The analysis highlights the need for all forms of energy to meet future demands, emphasizing the importance of investments and modern energy services for billions of people currently without access.
OPEC Secretary General, HE Haitham Al Ghais, said that the world requires more energy in the decades to come, and “for this to be available in a secure, stable and realistic manner that the world will continue to need all energies”.
HE Al Ghais also highlighted that the world will continue to need all energies. “It is also a future in which we need to embrace all technologies, to drive innovation and efficiencies, and ensure that all peoples are taken into account, particularly given that it is the non-OECD developing world that will drive future energy growth”.
The WOO report is available on the OPEC website.
Source: https://energynewsafrica.com
Ghana: China-UAE-Ghana Consortium Explores Investment Opportunities In Petroleum Hub Project
An investment consortium from China, the United Arab Emirates, and Ghana has expressed keen interest in Ghana’s Petroleum Hub project, firmly pledging support to help achieve the country’s goal of becoming the first African nation to establish a petroleum and petrochemical hub.
The consortium, consisting of Hilma Africa from the UAE, Beijing Petroleum Engineering from China, Krabton and Associates, and Pro Xperts-EPC from Ghana, visited the Petroleum Hub Development Corporation (PHDC) on Wednesday, July 2, for in-depth discussions with Acting Chief Executive Officer Dr. Toni Aubynn and his team.
The discussions centered on investment opportunities within the Petroleum Hub and the consortium’s potential to advance the project through its financial commitment.
Led by Dr. Alkhir Zayed, Vice President of Well Service, and Liu Ge, Vice General Manager of Beijing Petroleum Engineering, the team asked numerous questions to explore diverse investment prospects within the Petroleum Hub.
Dr. Toni Aubynn and Abigail Abrokwah, Senior Manager of Business Development at PHDC, provided a detailed overview of the project’s phases, including its primary and ancillary facilities.
They also outlined the available investment packages and clarified how PHDC is streamlining investment processes for the hub.
Dr. Toni Aubynn guided the delegation through the registration process, encouraging them to formalize their interest by submitting an expression of interest, which he hopes will foster an enduring and mutually beneficial partnership between the consortium and PHDC.
Following a dynamic and informative discussion, Dr. Alkhir Zayed stated, “We assure you that our commitment is to the benefit of Ghana.”
Source: https://energynewsafrica.com
Led by Dr. Alkhir Zayed, Vice President of Well Service, and Liu Ge, Vice General Manager of Beijing Petroleum Engineering, the team asked numerous questions to explore diverse investment prospects within the Petroleum Hub.
Dr. Toni Aubynn and Abigail Abrokwah, Senior Manager of Business Development at PHDC, provided a detailed overview of the project’s phases, including its primary and ancillary facilities.
They also outlined the available investment packages and clarified how PHDC is streamlining investment processes for the hub.
Dr. Toni Aubynn guided the delegation through the registration process, encouraging them to formalize their interest by submitting an expression of interest, which he hopes will foster an enduring and mutually beneficial partnership between the consortium and PHDC.
Following a dynamic and informative discussion, Dr. Alkhir Zayed stated, “We assure you that our commitment is to the benefit of Ghana.”
Source: https://energynewsafrica.com