The second pricing window for the month of October under the National Petroleum Authority’s price deregulation programme on petroleum pricing is set to commence from Monday the 16th of October.
Indications of prices based on international price movements and the forex performance over the past forthright points to some marginal reductions across pumps for the coming window as confirmed by CBOD petroleum pricing outlook for the window.
The figures below form the basis of Projections for the Window.
A. International Pricing
Crude 92.70 (-2.27%)
Petrol .. $848.3/MT (-13.06%)
Diesel .. $829.36/MT (-16.48%)
LPG ..$530.64/MT (-9.67%)
Thus, Petroleum prices generally have witnessed a significant drop on the international market according to the trading benchmarks.
B. Forex rate
The exchange rate for the Dollar recorded an increase of 1.44% to close trading at GHS12.10/$
C. Projections
Petrol.. GHS12.098/L
To be selling between GHS11.49/L and GHS12.70/L within ±5% of COPEC’s Projections
(Current market Mean Price =GHS12.63/L)
Expected Mean % drop (3.73%)
Diesel.. GHS12.694/L
Projected to be selling for between GHS12.06/L and GHS13.33/L within ±5% of COPEC’s Prediction.
(Current Mean Price = GHS13.40/L)
Expected Mean % drop (5.55%)
LPG.. GHS12.147/kg
To be selling between GHS11.54/L and GHS12.75/kg within ±5% of COPEC’s Prediction.
A group by name Patriotic Ghanaian Youth (PGY) based in the Western Region has rebuffed claims by the Herald Newspaper online portal that there was rot happening at the Ghana Gas Company Limited.
Speaking to the media on Monday, Anthony Cudjoe, spokesperson for the group said they are surprised that the NDC news portal would dream and seek to dent the image of one of the best working state entities.
He noted that since the tenure of the current Chief Executive officer, Dr Ben KD Asante, Ghana Gas had operated beyond what was normal under the National Democratic Congress (NDC).
‘’It is unthinkable for the Herald Online portal to dream about such false claims about Ghana Gas and attribute those scurrilous claims to the Energy Minister despite knowing very well that the state entity under Dr Ben Asante has become the toast of everyone in the country winning several awards including best operating state entity with the CEO, Ben Asante winning best Chief Executive award several times for his transparent operations’’, the spokesperson stated.
Dr.Ben Asante,CEO Ghana Gas Company
Exploits:
The Spokesperson said under the NPP and the current CEO, Dr Ben Asante, Ghana Gas has been operating as a wholly Ghanaian outfit.
He stated that currently all workers at the state outfit are Ghanaians and have been trained to be world class.
The spokesperson said unlike previously where the NDC employed foreigners to man the departments and offices as well as operations at the Gas Company, the NPP government and Dr Ben Asante have shown that the outfit can be handled by trained professionals and artisans from Ghana.
‘’During the NDC tenure Ghana Gas was operating with almost 80% foreigners who took home fat salaries to develop their countries but currently the same Ghana Gas was being operated by wholly Ghanaian professionals’’, Mr Cudjoe posited.
Scholarships:
The group spokesperson revealed that about 200 Ghanaians have gotten the opportunity to enter the university through scholarships provided by Ghana Gas.
Many others, he noted, have gotten the opportunity to go overseas to better themselves in the operations of Ghana Gas with most returning with the knowledge to help the state entity.
Mr Cudjoe said he is aware of special packages Ghana Gas has for schools in the Western Region whose infrastructure needs attention.
‘’We in the Western Region and Western North are aware of the commitment of Ghanan Gas to the local economies here and have deliberately channeled support to our students who want university education as well as schools that needed support to operate at optimum levels’’, the spokesperson intimated.
Sports Educational Facilities:
The spokesperson mentioned the numerous education facilities Ghana Gas has supplied to over 300 schools since 2017.
He noted that apart from renovations, Ghana Gas has constructed schools in all the 16 regions of the country.
On Sports facilities, the spokesperson said the state entity had constructed over 100 astro-turfs across Ghana with almost every district having one.
‘’I can say on authority that almost every district in Ghana has benefitted from the social responsibility projects of Ghana Gas and these projects have come about because of the prudent managerial strategy by Dr Ben Asante and his management’’, Mr Cudjoe posited.
The head pastor of the Caravan of Prayer Outreach Ministry at Gyinyase in the Asokwa Municipality of Ashanti region, Apostle Johnson Ackah Braimah says he fully backs the predictions by experts who are predicting that in the next few years, Ghana could import water if the activities of galamsey are not stopped.
“The government is very much aware that chemicals they (illegal Miners) use for the galamsey do not only destroy the land but also pollute the water underground and I wonder why as if we are fighting a losing battle”. He portion blamed on some high profile individuals who are behind this galamsey activities and urged them to desist from this wicked activities.
Apostle Braimah told this paper that, it is very unfortunate and annoying that the President, Nana Akufo Addo on several occasions have made announcements regarding the galamsey activities out of which anti task forces have been set up to monitor the environment yet it is still persisting.
Aps.Johnson Ackah Braimah
According to him,the pronouncements that big men are behind the galamsey activities can’t be far from the truth looking at their inaction toward the fight against the menace .
He lamented that “I even feel sorry for myself as a Ghanaian if one visits some places like Manso, Wassa, Mponua, Sefwi, Akyem among others and see how the lands and the forests have been destroyed and still be destroyed because of galamsey activities.
He charged the government through the body responsible for the mining to come out with plans to make sure that the left pits are covered and use for other purposes.
“I sometimes feel bad when I hear the news of innocent people falling into galamsey pits and die “. He said.
Energy Minister, Dr. Matthew Opoku Prempeh was on Friday 8th September, 2023 awarded at the 2023 edition of the Africa Public Sector Conference and Awards (APSCA) held in Nairobi, Kenya for his Transformational Leadership in the energy sector since assuming office as Minister.
The awards ceremony was organized on the margins of the Africa Climate Summit, which saw Heads of State, Ministers, Senior government officials of various African countries and key stakeholders gathering to deepen conversations on the global climate change agenda especially from the African perspective.
Addressing different gatherings during the Summit Dr. Prempeh used the opportunity to reiterate Ghana’s efforts at reducing carbon emissions pursuant to its commitment to the global climate agenda.
Dr.Mathew Opoku Prempeh (NAPO)
He said these efforts are within the broader context of Ghana’s blue-print towards achieving net zero.
Touching on the role of energy efficiency in Africa for the development of affordable, clean energy system for the future, the Minister who is also Member of Parliament for Manhyia South highlighted Ghana’s prioritization of energy efficiency which dates back to 2005.
“This is when we launched the appliance standards and labelling regime to date where we have passed legislations to back same” he said.
The Minister sindicated that the lighting retrofit led to savings of 124MW with 6000 CFLS deployed to replace 6000 incandescent lamps.
The transformational energy sector leadership award was received on the Energy Minister’s behalf by Deputy Director General of the Ghana Education Service, Dr. Bempah Tandoh.
It may be recalled that, Dr. Prempeh in 2022 was named at the Africa Public Sector Conference and Awards held at the Kempinski Gold Coast Hotel as the Best Minister for the period under review, touting his outstanding leadership as Energy Minister.
This award is an addition to a number of awards received by the Minister for his remarkable leadership as a public official with the recent one being an honorary Doctorate Degree conferred on him by the University of Cape Coast, also for his outstanding leadership
Source:metrotvonline.com
The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Saturday, 9th September 2023, commissioned five (5) boats for the Ghana Navy Fleet and an oil spill response vessel for the Ghana Maritime Authority.
This is the second time President Akufo-Addo has presented vessels to the Navy, following the presentation of four (4) offshore security vessels for use by the Navy in February 2022.
Amongst the vessels commissioned into service on Saturday by the President are two 27-metre boats, that would be used for patrolling the country’s maritime borders to the East and West.
It will be recalled that Ghana’s western maritime boundary with Cote d’Ivoire was delimited by the Special Chamber of the International Tribunal for the Law of the Sea (ITLOS) in September 2017, and there are ongoing efforts to delimit Ghana’s eastern maritime boundary with Togo
According to President Akufo-Addo, “As we protect these maritime territories, there is a need to maintain significant Naval presence, so as to prevent criminals from exploiting any contested areas. The classification of these boats as Boundary Class Ships of the Ghana Navy is fitting, and their names apt.”
The President was happy to note that Ghana Navy Ships HALF ASSINI and AFLAO are products of the co-operation between the governments of Ghana and the United States.
“We are grateful for the benevolence of the government and people of the United States. The United States has supported Ghana’s military revitalization programme through capacity building and enhancement of our capabilities, with the support of the Navy’s Special Boat Squadron and other initiatives with the Army and Air Force,” he said.
President Akufo-Addo continued, “The current 5-year United States, Denmark and Ghana Trilateral Agreement is set to make the Navy’s Special Boat Squadron a tier-one Special Operations Force by 2026. The donation of these two 12-metre Defender Class Boats would greatly enhance the operations of the Navy in dealing with sophisticated operations when the need arises. It is refreshing to see the Navy serving as a glue that is cementing international and local partnerships towards securing our interests at sea.”
He was particularly glad that the Navy and the Ghana Maritime Authority are working together to operate the new flex-fighter, which has been procured for oil spill response.
“As you can see, different players with different expertise, need to come together to work at sea, unlike in other domains. The Petroleum Commission and Ghana National Petroleum Company, both under the Ministry of Energy, are regulator and national operator, respectively, in our upstream oil and gas industry, yet it is the Ghana Maritime Authority operating under the Ministry of Transport that has procured a vessel for oil spill response to be operated with the Navy,” he said.
Having launched the National Integrated Maritime Strategy last week, President Akufo-Addo applauded the team from the Ghana Navy who have built Ghana’s first indigenous landing craft.
“The NAVDOCK 1, which measures 11.5 metres in length, is designed to carry thirty (30) personnel and one (1) ton of cargo. Their effort embodies the ingenuity, determination and can-do spirit of the Ghanaian people. I have been reliably informed that the Ministry of Fisheries and the Naval Shipyard are partnering with some private actors to replace the wooden canoes, used for fishing, with improved aluminium boats,” he added.
He was hopeful that, in time, such collaboration will help develop the country’s shipbuilding industry, and offer jobs to the youth of this country, while mitigating the environmental impact of wooden canoes.
“I charge you to collaborate with our academic institutions and the private sector so that this innovation is developed further to include other platforms for the safe transportation of passengers and goods on the Volta Lake and along our coasts,” he added.
President Akufo-Addo, in conclusion, reminded Ghanaians of the arduous task ahead and the need to work together to guard the country’s maritime frontiers, and protect its interests.
“These vessels symbolise our resolve to safeguard our maritime sovereignty, and I have, thus, no doubt that the crew would live up to the high standards and professionalism that the Ghana Navy embodies.
I acknowledge the sacrifices of the families of our servicemen and women who make certain that these gallant sailors have the peace of mind to be at sea to ply their trade,” he added.
The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Friday, 8th September 2023, commissioned First Oil from the Jubilee South East (JSE) Project, a project undertaken by Tullow, in collaboration with the Ghana National Petroleum Company (GNPC), Kosmos Energy, Jubilee Oil Holdings Limited, and Petro SA.
According to President Akufo-Addo, the success of the South East Project aligns with the broader Jubilee field plan, aimed at bolstering gross production from the field’s eastern side.
“With a collective investment of some one billion United States dollars (US$1 billion), our target of maintaining production above one hundred thousand (100,000) barrels of oil per day from this field, by year end, is well within reach.
With some three hundred million (300 million) barrels of oil estimated within the Jubilee field, this triumph augments our confidence in other prospects across the nation,” the President said.
Addressing the gathering, the President indicated that the triumph of the JSE Project reinforces his government’s determination to encourage further investments from partners in the TEN field project.
This expansion, he said, will consolidate Government’s achievements in the oi and gas sector, stressing that “the TEN field, enriched with substantial gas reserves, is pivotal to our nation’s natural gas production and the stability of our power sector in the coming years.”
President Akufo-Addo told the gathering that he was aware of commentary, both in the media and other corridors, about the viability of making great use of Ghana’s natural gas produced domestically to support the needs of the country’s power sector.
“Players in the oil and gas sector have been advocating for a commitment by Government to consider deploying more natural gas produced domestically to solve the challenges in providing sustainable electricity for individuals, households and businesses,” he said.
The President continued, “I want to re-emphasize our commitment to expedite discussions and agree mutually acceptable terms for a combined gas sales agreement between Tullow, its Joint Venture Partners and Government.
This step will pave the way for heightened success and revenue generation in the sector, fostering the use of natural gas for domestic purposes, and the creation of allied industries. Such utilisation is especially critical in meeting approximately half of our power generation requirements.”
Local Content
Touching on Local Content and Ghanaian participation in upstream petroleum operations, President Akufo-Addo stated that Government’s position on local content is not just about supplying ancillary services to the sector, but also having a stake in the resources as well.
“We must collectively endeavour to train our people to get to a level where they have the capacity to be able to participate fully in the industry, and our position is to strengthen all training vehicles in the various industries of the Energy sector, like the Accelerated Oil and Gas Capacity Building Programme, to ensure that Ghanaians have the relevant certification to become competitive, and play a fuller role in the industry.
That fuller role will be most effectively anchored when we ensure Ghanaian equity participation in the upstream development of our oil and gas resources,” he stated.
Energy Transition
With Ghana being a signatory to the Paris Agreement, which the 2nd President of the 4th Republic, His Excellency John Agyekum Kufuor, was a co-Chair of its deliberations, and other international conventions, which requires the country to reduce her carbon dioxide emission levels,
President Akufo-Addo acknowledged that it has become imperative for Ghana to develop plans and strategies toward the creation of a net-zero energy sector.
“However, as I have reiterated on previous occasions, whilst working hard to combat the effects of climate change, it is also important to protect our development by making sure that our oil reserves do not become stranded assets, but, rather, a catalyst for our economic growth. Our position remains unchanged,” he added.
Ghana, the President reiterated, has everything going for it as a destination for investment– a stable political system, a robust legal framework, a viable fiscal regime, a good telecommunications system, a hardworking, skilled labour force, and warm, hospitable people.
“I wish to assure the investor community of our continued support to ensure that their investments are safe in law and in fact, and that they are able to flourish in our country within the context of our relevant laws. Our doors are always open for conversations on your presence in Ghana, and I hope the good, warm relations we have fostered over the years will continue to endure in the times ahead,” he added.
President Nana Addo Dankwa Akufo-Addo has underscored the positive outcomes of the ban on illegal mining, commonly known as galamsey, in contributing to the reduction of carbon emissions.
He made these remarks during his address at the 2023 Africa Climate Summit in Nairobi, Kenya.
During his speech, President Akufo-Addo emphasized that the prohibition of galamsey, which has been responsible for the degradation of water bodies and forest reserves, has played a pivotal role in diminishing carbon emissions in Ghana.
He highlighted that various flagship policy initiatives, including “Planting for Food and Jobs,” “One Village, One Dam,” and the ban on illegal mining, have collectively contributed to lowering carbon emissions while bolstering the nation’s resilience to the adverse effects of climate change.
President Nana Akufo-Addo
“We placed a ban on illegal mining, the phenomenon we call galamsey, which was destroying our water bodies, vegetation, and our forests. Some 20,000 young people have been engaged to plant more than 30 million trees in two years to create jobs and restore degraded lands,” Citinewsroom quoted President Akufo-Addo.
He went on to emphasize that these policy initiatives have already yielded positive outcomes in achieving Sustainable Development Goals (SDGs), particularly in the pursuit of reducing carbon emissions.
President Akufo-Addo used the platform to urge other African nations to take similar measures aimed at curtailing carbon emissions and strengthening their capacity to confront the challenges posed by climate change.Source: ghanaweb.com
The Ministry of Fisheries and Aquaculture Development (MOFAD) in collaboration with Fuel Automation Ghana Limited and its technical partner, Universal Engineering & Consultancy Services Limited as well as its local and foreign funding partners will on 29th August 2023 officially commission the Automation of Premix Fuel Distribution System at Elmina in the Central Region of Ghana.
This laudable and innovative project will be commissioned by H. E. Dr. Mahamudu Bawumia, the Vice-President of the Republic of Ghana.
The full Automation of the supply and distribution of Premix Fuel has been on the table of previous Governments but largely due to financial constraints it was difficult achieving it.
The supply and distribution of Premix Fuel in the Fishing Industry was introduced in 1994 with the sole objective of powering outboard engines and helping Artisanal Fishermen to increase their catch. This laudable initiative raised the living standards of the fishing communities as well as increased the supply and demand for fish stock in Ghana. The decision to subsidize Premix Fuel eventually made the product affordable and available to the fishing communities.
Under the current Government, the full Digitalization of the supply and distribution of Premix Fuel started with a Public-Private Partnership with Fuel Automation Ghana Limited.
Challenges Associated with the Premix Fuel since 1994
Smuggling, Diversion, Hoarding, Shortages and Politicization have been the major setbacks for the supply and distribution of Premix Fuel in Ghana since 1994.
Statistics from the National Petroleum Authority (NPA) indicate the following Premix Consumption between 2018 and 2022(Consumption in millions):
2018 -73
2019 -72
2020 -101
2021 -104
2022 -39
Between 2018 and 2022, a total of 392 million litres of premix fuel was supplied to 300 landing beaches across the country.
However, despite efforts to supply Premix Fuel to the fishing communities, available data indicate that the following quantities of Premix Fuel were diverted in 2017 alone:
1. 148, 000 litres in January
54, 000 litres in February
297, 000 litres in April
364, 000 litres in May
270, 000 litres in June
459, 000 litres in July
648, 000 litres in August
1, 107, 000 litres in October
The worrying trends of Premix Fuel diversion, smuggling, hoarding and politicization always lead to shortages of the product in the market. Hence the best solution to address these challenges was to fully Automate the supply and distribution of the product. However, Financing was the major setback for previous Governments to undertake the full automation of the Premix Fuel Distribution System in Ghana.
Novelty Intervention by Fuel Automation Ghana Limited
Fuel Automation Ghana Limited together with their technical partners identified the bottlenecks in the value chain of premix fuel supply and distribution and proposed technological solutions to the problems associated with the Premix Fuel ecosystem and a proposal was submitted to the Ministry of Fisheries and Aquaculture Development.
The Ministry of Fisheries and Aquaculture Development after due process under the Procurement Act, engaged the services of Fuel Automation Ghana Limited and its technical partner to develop and build Landing Beach Fuel Outlets and Automation Solutions for 300 Landing Beaches across the Country under a Public-Private Partnership of Design, Build, Operate and Transfer(DBOT).
Financing of the Project
The financing of the Project is exclusively done by Fuel Automation Ghana Limited and its local and foreign funding partners.
The financing of national projects could be successfully done by the Private sector as Fuel Automation Ghana Limited has shown the way. This approach of Private Financing reduces the unnecessary financial burdens on the Government of Ghana and it is something that future Governments should emulate for national development.Source: Peacefmonline.com
The Media Coalition Against Galamsey is admonishing President Nana Addo Dankwa Akufo-Addo to emulate the actions of the Asantehene Otumfuo Osei Tutu II by dismissing government officials who are found guilty of engaging in illegal mining activities.
This comes on the back of Otumfuo’s decision to destool the Chief of Abuontem, Nana Kwaku Duah III following allegations of his involvement in the illegal sale of lands that rightfully belong to various individuals and families.
The destoolment of Nana Kwaku Duah III and his subsequent handover to the police took place on Monday during a session of the Kumasi Traditional Council held at the Manhyia Palace.
Speaking on the matter, the convener of the Coalition, Ing Dr. Kenneth Ashigbey says Otumfuo has shown leadership which he is charging the president to adapt in his governance.
Ing Dr. Kenneth Ashigbey
“This is what we expect of leadership and I completely agree with Otumfuo that if you are a chief, and you have galamsey happening in your community, you are either complicit and are deeply involved in it or you are incompetent and in both cases, you are not worthy of being the chief or leader of the people. And I think this is the Asantehene walking the talk and so it is the same action that we require of the president.”
This comes a little over a week after the chief of Aduamoa was also destooled due to his involvement in unauthorized multiple land sales and various acts of misconduct.
The National Petroleum Authority (NPA) is set to roll out the Cylinder Recirculation Model (CRM) Programme in September this year.
Under the CRM, residents of Accra and other selected parts of the country do not have to own a cylinder to use Liquefied Petroleum Gas (LPG) for the domestic and commercial activities.
Filled LPG cylinders will be kept at exchange points for customers to pay for the content and pick up the filled cylinders after registering with their National Identity Card.
The implementation of the CRM will be championed by the NPA
and its partners under the supervision of the Ministry of Energy.
Briefing the media on the planned implementation of the CRM in Accra on Thursday, a Deputy Chief Executive of NPA, Mr. Perry Okudzeto, said the programme would be rolle out in September in Accra and Kumasi and would gradually spread across the country.
He said the CRM would run side by side with the current distribution model until is phased out.
Mr. Okudzeto said a 50-member committee was working on the CRM.
He indicated that the LPG Marketing Companies had representation on the committee and their inputs had been factored into the framework.
“All industry players have been engaged, their ideas hav been taken on board and the framework has been designed with their input and are ready to offer their support to ensure the success of the project,” he stressed.
Mr. Okudzeto said
the implementation of the CRM is to ensure that at least 50% of Ghanaians have access to safe, clean and environmentally friendly LPG by 2030.
Perry Okudzeto
It is also meant to improve access to LPG, improve safety in the distribution of LPG and to increase adoption of LPG.
Additionally, it is a policy shift to stop the unnecessary loss of lives and properties as well as gas filling stations, mostly due to human error.
Mr. Okudzeto explained that per the CRM policy, cylinders procured from manufacturing companies would be sent to Bottling Plants to be filled.
The filled cylinders will be transported in bulk to exchange depots for holding and sorting before transporting them in quantities to cylinder exchange points where consumers can register and pay for any quantity for domestic and commercial consumption.
Specialised trucks will be used to transport the filled cylinders from the bottling plants to the retail stations or exchange points, where consumers will exchange their empty cylinders for filled ones.
Mr. Okudzeto said the registration with the Ghana card at the exchange points was necessary to have data on consumers for traceability.
He said the programme had been well piloted, the system streamlined and the infrastructure put in place to ensure the safe delivery and use of LPG across the operational areas.
“The NPA commissioned a pilot programme with the existing infrastructure. The pilot programme was done in the Eastern Region around the Kwaebibem area, in Ashanti Region in Obuasi zone and then in the Northern Region in the Yendi zone. The programme taught us quite a number of lessons and that has gone into shaping the framework for the implementation of the new policy,” he said.
Mr. Okudzeto said four CRM Bottling facilities – GOIL Bottling Plant in Tema and Kumasi as well the Blue Ocean and Newgas facilities were ready to take off.
APPEB Cylinder Manufacturing Company in Awutu Senya, SIGMA Cylinder Manufacturing Company in Accra and the Ghana Cylinder Manufacturing Company at Spintex, which will be producing the cylinders to be distributed nationwide, are also ready for the roll out.
“So far, since 2017, the first step has been to construct bottling plants that will be the main pivot around which the policy will operate since under the new policy, cylinders are going to be filled with LPG and sent to exchange points for distribution,” Mr Okudjeto stressed.
The President continued, “I want to re-emphasize our commitment to expedite discussions and agree mutually acceptable terms for a combined gas sales agreement between Tullow, its Joint Venture Partners and Government.
