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AfrOil POLICY AfrOil

Gonji explained that the regulation of fuel prices schemes.
will be accompanied by measures to support But the country’s influential opposition blocs
low-income groups, but that will not include have said they will not accept any deal the gov-
the government’s intention to lift fuel subsidies. ernment makes with international lenders in
She added that the 2022 Finance Law esti- exchange for unpopular reforms. That is why
mated the government’s needs to meet energy increasing energy prices will probably cause
demands at TND5.2bn ($1.66bn), assuming even higher inflation and wider social unrest in
a barrel price of $75. However, the crude bar- the North African country. ™
rel surged to above $108 as a result of the Rus-
sia-Ukraine war. The energy needs are now
estimated at TND10.2bn.
The government is now subsidising energy
products at TND8bn, from TND2.9bn earlier,
Gonji noted. The 2022 Finance law will provide
16% of financing needs instead of 32%.
The government is currently in advanced
talks with the IMF to secure a much-needed
loan to the tune of $4bn to support its ailing
economy. The talks are progressive so far. The
fund previously insisted on economic reforms in
Tunisia including lifting energy and food subsi-
dies, cutting public wages and restructuring tax Industry Minister Neil Nouira Gonji (Photo: Presse.tn)

Ghana MPs say Sankofa/Afina

unitisation dispute could cost $7bn

GHANA GHANA’S parliament has expressed concern International Tribunal in the United Kingdom
over a protracted lawsuit involving Springfield (UK) against a directive by former Energy Min-
Ghana and Italy’s Eni SpA, warning it could ister John Peter Amewu that required Eni to uni-
straddle the country with $7bn in debt, and has tise, or jointly develop, its Sankofa offshore field
called on President Nana Addo Dankwa Aku- with the Afina oil block. The latter is operated
fo-Addo to intervene in the case. by Springfield Ghana, a local upstream sector
In August 2021, Eni filed a lawsuit at the company.

The Afina and Sankofa fields are adjacent (Image: Petroleum Commission of Ghana)

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