The commissioning of the Kumasi 1 Thermal Power Project on Wednesday, April 17 by President Akufo-Addo, is set to address voltage and power quality issues in Kumasi and the northern parts of Ghana by boosting system voltages and thus improving overall system stability, the Volta River Authority (VRA) has said.
Eni-controlled renewable energy company Plentitude has started the construction of the Renopool solar park in Extremadura, Badajoz province, Spain.
The State will audit Tullow Oil’s spending on its oil project amid a review of a plan submitted by the British firm on plans to develop the petroleum deposits found in
Turkana more than a decade ago.
Mohamed Liban, Petroleum Principal Secretary, said the new audit by an independent consultant will cover costs Tullow incurred on blocks 10BB and 13T from 2021 until the end of the 2024 calendar year as well as Early Oil Pilot Scheme (EOPS) from 2021 to the end of 2023. “In so doing, the consultant will evaluate whether the expenditures are in line with contractual obligations and if the claimed costs are entitled to cost recovery,” the official said.
Similar independent cost recovery audits for blocks 10BB and 13T for 2010-2016, 2017-2018, 2019-2020, and EOPS for 2017-2020 have been run.
Kenya’s petrodollars dream will take longer to materialise as Tullow Oil plans to make its first commercial export of oil in 2028, marking the latest delay in the project.
This timeline contained in the Field Development Plan (FDP) submitted by the British firm to the government for review and approval, has been revealed for the first time by the Energy and Petroleum Regulatory Authority (Epra).
This is as the government recently extended the timeline for review of the FDP, which Tullow says has been optimised to be robust at low global oil prices, to June 30, 2024.
The government’s discussions with Chevron are progressing well, stated President Christodoulides yesterday, expressing hope for announcements soon.
Ghana National Petroleum Corporation (GNPC) could soon become unproductive as it cannot finance its operations due to the government’s failure to settle the unsustainable debts owed to the parastatal organisation.
Grainger plc (LON:GRI – passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 254.37 ($3.22) and traded as high as GBX 259 ($3.28). Grainger shares last traded at GBX 256 ($3.24), with a volume of 524,514 shares.
Hess Corporation (NYSE: HES) today announced it has made a final investment decision to proceed with Whiptail, the sixth development on the Stabroek Block, after receiving government and regulatory approvals. Whiptail is expected to add gross production capacity of approximately 250,000 barrels of oil per day by the end of 2027.
According to data from the Organisation of Petroleum Exporting Countries (OPEC), Libya has overtaken Nigeria as the top African oil producer.
Pantheon Resources plc shared the results of the updated Independent Expert Report (“IER”) by Netherland Sewell & Associates, Inc. (“NSAI”). The update includes approximately 43,000 acres located on its 100% owned Kodiak oil and gas field on the North Slope of Alaska.