Tag: IES
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Fossil fuel industry in survival mode: IES Analysis
As things stand now, fossils are in survival mode, as the momentum on consumption seems waning. The coronavirus crisis accompanied by the global economic downturn appears to have accelerated things to the point where it is prohibitively expensive to consume fossil fuels. Fossil fuels including oil, natural gas, and coal may continue to be in…
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Renewable Energy remains a viable and cheaper alternative for Ghanaians – IES
The Executive Director of the Institute for Energy Security, IES, Nana Amoasi VII, has reiterated that the inclusion of renewables in the Ghana, and for that matter Africa’s energy mix is key in addressing not only energy supply need, but to replace costly fossil-fueled thermal power plants with more greener and cheaper types, with added…
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TEN Field’s challenges and crude price fluctuations reduced 2019 oil revenue – IES
The Institute for Energy Security, IES, says the drop in Ghana’s oil revenue in 2019 could be attributed to the movement of crude prices on the world market and the challenges faced by Tullow Oil in the TEN Fields. Oil revenue dropped by 5 percent to 925 million dollars in 2019 from 977 million dollars…
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![Harmonizing West Africa’s increased electricity generation with climate objectives [Article]](https://citibusinessnews.com/wp-content/uploads/2020/06/NANA-AMOASI.jpeg)
Harmonizing West Africa’s increased electricity generation with climate objectives [Article]
The United Nation’s Department of Economic and Social Affairs estimate that there will be 1.3 billion more Africans by 2050. From 2017 to 2050, it is expected that half of the world’s population growth will be concentrated in just nine countries: India, Nigeria, Democratic Republic of the Congo, Pakistan, Ethiopia, the United Republic of Tanzania,…
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Manage expectations from oil proceeds in mid-year budget – IES to Gov’t
The Institute of Energy Security, IES, has advised government to benchmark expected revenue from petroleum receipts around 35 dollars per barrel. The 2020 national budget pegged petroleum prices for export at 60 dollars per barrel. However, the outbreak of COVID-19 caused prices of crude oil on the world market to drop to as low as…
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Paa Kwasi Anamua Sakyi writes: Fuel price increases; who is to be blamed?
It took the intervention of the coronavirus which emanated from China in early January 2020 to briefly halt the persistent increases in fuel prices in Ghana. Prior to that, the country has had to contend with persistent increases in fuel prices since January 2017. The revision and the neutralization of the Price Stabilization and Recovery…
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Paa Kwasi Anamua Sakyi writes: The tables are turning in favour of renewables
The push for renewable energy to dominate the future energy architecture on a global level, to supplement and eventually substitute the more polluting traditional energy sources known as fossil fuels, have always been met with stiff opposition and some challenges. In spite of the drawbacks which includes intermittency, costs, unfavorable politics and regulation among others,…
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IES urges BOST to use increased margin to boost its operations
The Institute of Energy Security (IES), which had backed calls by the Bulk Oil Storage and Transportation Company, BOST for an increase in the BOST margin, has welcomed the increment of the BOST Margin in the price build-up of petroleum products. The IES says it expects BOST to use the marginal increase prudently for the…
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Fuel prices go up slightly as BOST margin increases – NPA
Consumers of petroleum products should be paying an additional three pesewas per litre for the fuel they purchase at the various pumps from June 1, 2020. According to the National Petroleum Authority, NPA, this follows an increase of the BOST Margin in the price build-up of petroleum products. Currently, a litre each of petrol and…
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Avoid debt accumulation in energy sector – IES urges Gov’t
The Institute of Energy Security, IES, has advised government to take steps to ensure that it does not accumulate debt in the energy sector. The Institute says it is important for government to adhere to its own guidelines in order not to repeat that situation. The comments come after the Energy Ministry announced that government…