Page 12 - AfrOil Week 16 2022

AfrOil PERFORMANCE AfrOil

Block 0 was Angola’s largest single source of oil production in March 2022 (Image: Chevron)

On average, it said, all grades of Angolan crude cubic metres) of associated gas in March, mark-
fetched an average price of $114.29 per barrel, ing a 7% rise on the February figure of 81.621
selling at a $3.34 premium to average Brent mcf (2.311 mcm).
prices. Girassol grade crude sold at an average Daily output levels averaged 2.825 mcf
of $114.86 per barrel, with prices peaking at (80,000 cubic metres) per day in March, down
$133.42 per barrel, while Cabinda and Nemba slightly more than 3% on the February figure of
prices averaged $114.68 and $113.84 per barrel. 2.915 mcf (82,550 cubic metres) per day. Again,
PetroAngola further reported that Angola the discrepancy stemmed from the difference in
had produced 87.583mn cubic feet (2.48mn the lengths of the months. ™

POLICY
Kenyan government says fuel crisis will

end, slams hoarding and probes exports

KENYA KENYA’S government assured consumers on to have hoarded petroleum products and pri-
Sunday, April 17, that normal petrol and diesel oritised exports to neighbouring countries will
supplies would resume within 72 hours after two face sanctions. Kenya Pipeline Co. (KPC) has
weeks of irregular supply led to long queues at assured the Petroleum Ministry that the coun-
filling stations and higher prices. try’s storage facilities are sufficiently stocked.
Monica Juma, the country’s acting Petro- Kenya’s Energy and Petroleum Regulatory
leum and Mining Cabinet Secretary, said new Authority (EPRA) has issued show-cause let-
government initiatives would ensure adequate ters to OMCs suspected of hoarding. The EPRA,
supply to consumers. She also blamed the crisis police and Competition Authority of Kenya are
on hoarding, saying the country had sufficient carrying out investigations to establish the cause
stocks in place. “This situation equates to delib- of the fuel shortage.
erate efforts to sabotage this economy, which Juma urged retail outlets to work 24/7,
is a capital crime,” she told reporters at Kawi declaring that state security will provide protec-
(Energy) Complex in Nairobi on April 14. tion to tankers given a special status to transport
Oil marketing companies (OMCs) found fuel to stabilise supplies within 72 hours.

P12 www. NEWSBASE .com Week 16 20•April•2022