Page 11 - AfrOil Week 09 2023
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AfrOil POLICY AfrOil
One year credits from UAE “For the products that will come in April
In related news, Kenya is poised in April to start and May, they will come with more govern-
importing 30% of its fuel on the credit of up to ment support and deferred payments so that
one year from the United Arab Emirates to ease we significantly reduce the pressure on the dol-
pressure on dollar demand, amid uncertainty lar,” Chirchir said. “For the deferments, we are
over its impact on local pump prices, Business looking at anything between six months and
Daily reports. one year. We will be doing a lumpsum payment
Chirchir said the government-to-govern- every six months.”
ment deal will see Kenya import 30% of its Business Daily quoted some state officials
monthly petroleum product requirements doubting whether this arrangement will result
through the State-owned National Oil Corp of in lower fuel prices, with some arguing that
Kenya (NOCK). the long credit period will wipe out any pricing
The imports, which will come through a opportunities.
credit of between six months and a year, are Others urged that the intention is not to
expected to ease a crisis in the foreign exchange lower fuel prices for consumers but to help the
market given that oil shipments account for 28% country manage its import cover by holding on
of Kenya’s monthly imports. longer to dollars.
PROJECTS & COMPANIES
BP, partners plan second-phase expansion
for Greater Tortue/Ahmeyim gas field
SENEGAL/MAURITANIA BP (UK) and its US-based partner Kosmos According to BP’s Gordon Birrell, executive
Energy are exploring a second-phase expansion vice president of operations and production,
for the Greater Tortue/Ahmeyim (GTA) natural the GTA project underpins the company’s strat-
gas project off the coast of West Africa. egy to develop resilient hydrocarbons that can
Alongside Kosmos Energy, Senegal’s Pet- provide energy security today, along with BP’s
rosen and Mauritania’s Société Mauritanienne Yakaar-Terenga and BirAllah LNG projects in
des Hydrocarbures (SMH), BP could increase Senegal and Mauritania.
GTA’s LNG production to as much as 5.3mn “We aim to build on our strong collaboration
tonnes per year, up from the first-phase level of with our partners, and the governments of Mau-
2.3mn tpy. ritania and Senegal, to further develop a long-
The proposed expansion will include the use term, successful energy hub in West Africa,” he
of a gravity-based structure and new wells and said, according to Natural Gas Intel.
subsea equipment to expand existing infrastruc- In 2022, Africa became a growing source of
ture and production. LNG for Europe, with the region receiving its
BP is also considering designs to lower emis- first cargoes from Cameroon and increased vol-
sions associated with LNG production at the umes from Equatorial Guinea and Angola. This
facility by using equipment such as electric drive is expected to grow in the near future as coun-
turbines. tries seek to replace Russian gas.
Rendering of gas hub established for GTA Phase 1 project (Image: Eiffage)
Week 09 02•March•2023 www. NEWSBASE .com P11
