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Tuesday, January 26, 2021
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    Ghana Association of Bankers appoints Mansa Nettey as new president

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    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    Public Enterprises Minister must prioritize profitability of SOEs – Economist

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

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    Ghana Association of Bankers appoints Mansa Nettey as new president

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

    AfCFTA: Address challenges of local businesses – GNCCI to government

    Sensitize employees, customers on COVID-19 safety protocols – AGI urges SMEs

    PIAC elects Professor Kwame Adom-Frimpong as its new chairman

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    Huawei Watch Fit; The perfect smartwatch for everyone

    A close look at the Huawei FreeBuds 3; World’s 1st open-fit active noise-cancellation earphone

    Ashigbey urges government to revise telecoms industry laws to boost growth

    Blend tech with fashion with the new Huawei Watch Fit

    Kick back and enjoy immersive entertainment for the whole family with the MatePad T 10s

    Cost of political adverts on social media to rise by 200% in next election – Maximus

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    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    AfCFTA to set up trade finance facility for SMEs in Africa

    LNG-to-power project to reduce cost of electricity in Ghana – Energy Consultant

    World Bank plans to invest over US$5 billion in drylands in Africa

    Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana

    GUTA to commence cross-border trading with Nigeria

    Stakeholders charged to eliminate barriers likely to impede success of AfCFTA

    Ghana can benefit from ‎AfCFTA with hemp production – Business consultant 

    GUTA welcomes Nigeria’s decision to reopen its land borders

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    Ghana Association of Bankers appoints Mansa Nettey as new president

    AfCFTA: Construction Chamber advocates for reduction of lending rate

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    Public Enterprises Minister must prioritize profitability of SOEs – Economist

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Local manufacturers urged to pay attention to product labelling

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

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    Ghana Association of Bankers appoints Mansa Nettey as new president

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

    AfCFTA: Address challenges of local businesses – GNCCI to government

    Sensitize employees, customers on COVID-19 safety protocols – AGI urges SMEs

    PIAC elects Professor Kwame Adom-Frimpong as its new chairman

  • TECHNOLOGY

    Huawei Watch Fit; The perfect smartwatch for everyone

    A close look at the Huawei FreeBuds 3; World’s 1st open-fit active noise-cancellation earphone

    Ashigbey urges government to revise telecoms industry laws to boost growth

    Blend tech with fashion with the new Huawei Watch Fit

    Kick back and enjoy immersive entertainment for the whole family with the MatePad T 10s

    Cost of political adverts on social media to rise by 200% in next election – Maximus

    Huawei announces global release schedule of EMUI 11 update

    Experience powerful all-round performance with the New Huawei Y8s

    Hyundai launches first ever electric car in Ghana

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    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    AfCFTA to set up trade finance facility for SMEs in Africa

    LNG-to-power project to reduce cost of electricity in Ghana – Energy Consultant

    World Bank plans to invest over US$5 billion in drylands in Africa

    Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana

    GUTA to commence cross-border trading with Nigeria

    Stakeholders charged to eliminate barriers likely to impede success of AfCFTA

    Ghana can benefit from ‎AfCFTA with hemp production – Business consultant 

    GUTA welcomes Nigeria’s decision to reopen its land borders

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AfCFTA and Dangote’s refinery will make fuel cheaper – Energy Consultant

by Michael Ogbodu
January 13, 2021
in News, Oil And Gas, Top Stories
The riser platform stands on the Johan Sverdrup oil field off the coast of Norway in the North Sea, on Tuesday, Dec. 3, 2019. Sverdrup's earlier-than-expected start in October broke a long trend of underperformance for Norway's overall oil production.

The riser platform stands on the Johan Sverdrup oil field off the coast of Norway in the North Sea, on Tuesday, Dec. 3, 2019. Sverdrup's earlier-than-expected start in October broke a long trend of underperformance for Norway's overall oil production.

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Energy analyst and lead technical consultant to the Chamber of Petroleum Consumers (COPEC), Dr Yussif Sulemana says the African Continental Free Trade Area Agreement (AfCFTA) coupled with the establishment of a state-of-the-art refinery by Nigerian businessman Aliko Dangote stand the potential to significantly reducing the cost to refined crude products on the continent.

He stated that “Nigeria is now looking straight, and they say they want to add value to their raw material base which is crude oil and so that is the cue and if they succeed, and we see that it is doable then Ghana just has to make its existing refinery vibrant. If we have a lot of finished products within the market, first of all, cost-wise, it is going to be competitive, and the cost will come down. So I see two things within the AfCFTA. It will break trade barriers, and it will bring about structural transformation in magnanimous  proportions in the African continent and that includes intelligence sharing etc.”

AfCFTA commenced on the first of January this year.

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With its headquarters situated in the capital Accra, it is an agreement amongst 54 African countries, that seeks to progressively reduce and eventually eliminate customs duties and non-tariff barriers on goods and allow the free provision of services in priority sectors.

Concerning trade in goods, the goal is set for 90% of products at zero duty across the continent.

On the other hand, the Dangote refinery is a 650,000 barrels per day (BPD) integrated refinery and petrochemical project under construction in Lagos, Nigeria. It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility, upon completion.

The West African country is, however, dependent on imported refined fuel products due to a lack of domestic refining capacity.

The Dangote refinery will increase Nigeria’s refining capacity two-fold and help meet the increasing domestic fuel demand while generating foreign exchange through exports.

The Dangote refinery is expected to produce 10.4 million tonnes (Mt) of gasoline, 4.6Mt of diesel, and 4Mt of jet fuel among others in a year.

Dr Sulemana believes these two events stand to reduce if not eliminate the cost of importing finished petroleum products from countries outside the Continent.

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AfCFTA: Construction Chamber advocates for reduction of lending rate

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