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Oil Marketing Companies in Ghana have begun applying the revised energy sector levies which has seen an upward adjustment in both diesel and fuel prices. The move follows a directive from Ghana’s National Petroleum Authority (NPA). To discuss this story and its impact, Paa Kwasi Anamua Sakyi, Executive Director at the Institute for Energy Security joins CNBC Africa for more.

NPA orders oil marketing companies to apply revised energy sector levies

CAPE TOWN (Reuters) &#8211; BP Southern Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday.
The 180,00 barrels per day SAPREF refinery, South Africa’s largest, is a 50:50 venture between Royal Dutch Shell and BPSA, a subsidiary of British oil major BP. The plant is located in the east coast city of Durban.
BP would invest 3.5 billion-4 billion rand ($252 million-$288 million) in the refinery upgrade, Chief Executive Priscillah Mabelane told Reuters, adding that about 40 percent of the total $1 billion investment would go on retail activities.
She said the upgrade would make “sure the refinery can meet the new specifications in terms of low sulphur and Marpol regulations.”
The plant would shut for maintenance from May to June 2019, she added.
The upgrade has been driven by new rules demanding a lower fuel sulphur content and changing customer preferences for cleaner diesel, such as D50 and D10.
Refinery operators have been in long-running talks with government on how to recover costs from upgrading work needed to produce cleaner fuel in South Africa, the continent’s most industrialised economy.
“From an industry perspective we are pushing very hard to ensure that there is policy clarity because we have been on this journey very long, almost a decade,” Mabelane said about the ongoing talks.
Industry players estimated in 2009 that the cost to upgrade to cleaner fuels would be about $4 billion.
Other operators in the sector include Total and Sasol.
Besides upgrading the refinery, Mabelane said BPSA would expand its retail activities in South Africa.
“We are aggressively going to grow our footprint in the country,” she said on the sidelines of an event with retailer partner Pick n Pay to launch a new innovation for a loyalty card that will also work at BP fuel stations nationwide.
BP was looking at opportunities to expand its services in Mozambique, where it is the second largest oil company, Mabelane said. “The market is exciting and dynamic,” she said.
($1 = 13.8783 rand)
Reporting by Wendell Roelf; Editing by James Macharia and Edmund Blair

What you need to know about BP’s plans to invest $1 bln in South Africa

Ed Stoddard | JOHANNESBURG
The retail price of petrol and the wholesale price of diesel in South Africa will rise from May 3, the energy department said on Friday.
The price of 95 octane petrol will climb 3.7 percent to 13.79 rand ($1.03) per litre in the commercial hub of Gauteng province, while diesel will rise 2.6 percent to 11.80 rand/litre, the department said in a statement.
$1 = 13.3383 rand)
(Reporting by Ed Stoddard)
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South Africa’s petrol, diesel pump prices to rise in May

Egyptian Petroleum Minister Tarek El Molla said on Sunday his country had received two cargoes of diesel fuel from Saudi Arabian state-owned oil company Aramco on Friday and Saturday.
Molla was speaking at an energy conference in Cairo.
Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products a month for five years, but the cargoes stopped arriving in early October.
Though officials from both sides have denied the existence of tensions or disagreements between the two countries, the two have been at odds on a number of political issues.
Egypt voted in favour of a Russian-backed but Saudi-opposed U.N. resolution on Syria in October, which excluded calls to stop bombing Aleppo.
In January an Egyptian court rejected a government plan to transfer two uninhabited Red Sea islands to Saudi Arabia.
Egypt announced last week that the petroleum product shipments would resume.
Egypt had turned to the spot market in recent months after Aramco&#8217;s halt of shipments but also sought similar deals to make up the shortfall. Crude from Iraq was expected to arrive in late March as part of an agreement for 1 million barrels a month.
Molla said he was revising the import schedule with distributors following Aramco&#8217;s decision to resume shipments.
In the longer term, Egypt&#8217;s petroleum products imports will decrease from 35 percent of its consumption needs currently to 5-7 percent of consumption by 2020, Molla said, saving the country billions of dollars per year.
(Reporting by Abdelrahman Adel; Additional reporting by Eric Knecht; Writing by Ahmed Aboulenein; Editing by Dominic Evans)

Egypt received two cargoes of diesel fuel from Saudi Aramco

The retail price of petrol in South Africa will rise by 4 percent from Jan. 4, while the price of wholesale diesel will increase by 3.5 percent, the energy department said on Thursday.
The price of 93 octane petrol will be 50 cents higher at 13.09 rand per litre, with the 95 octane also up 48 cents to 13.33 rand per litre in the country&#8217;s commercial hub of Gauteng province, while diesel will increase by 39 cents to 11.43 rand per litre, the department said in a statement.﻿

South Africa&#39;s petrol price to rise by 4 percent next week

The retail price of petrol in South Africa will rise by 3.6 percent from Nov. 2, while the price of wholesale diesel will go up by 5.9 percent, the energy department said on Friday.
The price of 93 octane petrol will rise by 45 cents to 12.79 and 95 octane by 45 cents to 13.05 rand per litre in the commercial hub of Gauteng province, while diesel will go up by 63 cents to 11.35 rand per litre, the department said in a statement.
 
(Reporting by Joe Brock; Editing by James Macharia)﻿
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diesel

NPA orders oil marketing companies to apply revised energy sector levies

What you need to know about BP’s plans to invest $1 bln in South Africa

South Africa’s petrol, diesel pump prices to rise in May

Egypt received two cargoes of diesel fuel from Saudi Aramco

South Africa's petrol price to rise by 4 percent next week

S.A's petrol price to rise by 3.6 percent next week

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diesel

NPA orders oil marketing companies to apply revised energy sector levies

What you need to know about BP’s plans to invest $1 bln in South Africa

South Africa’s petrol, diesel pump prices to rise in May

Egypt received two cargoes of diesel fuel from Saudi Aramco

South Africa's petrol price to rise by 4 percent next week

S.A's petrol price to rise by 3.6 percent next week

News Tips

Advertise With Us

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