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EGYPT said its net revenues increased to $21.6bn in GHANA
2021, with nearly one fifth of which was earned
Capex of state-owned oil during the last two months of the year, according Tullow, other partners in
to a statement.
and gas firms to exceed 1.045mn barrels per day (bpd) in 2021. TEN and Jubilee projects
The company’s total current oil output was
$1.91bn in FY2022/2023 higher international crude oil prices, which are sign MoU with Ghanaian
The greater revenues were attributed to

The total capex of state-owned oil and gas com- expected to continue to rise unless the market Navy to protect fields
panies in Egypt is to exceed EGP30bn ($1.91bn) fundamentals change and global investment
in fiscal year 2022/2023, Oil Minister Tarek El upstream and downstream increases, according Tullow Ghana Ltd, operator of the TEN and
Molla reportedly said. The new capex invest- to NOC head Mustafa Sanallah. He added that Jubilee gas fields, has signed an agreement with
ment will be allocated to the further develop- the country’s tight financing conditions werre the Ghanaian Navy to use the latter’s vessels to
ment and growth of existing oil and gas assets. preventing investment in new oil projects or provide security at the two sites.
Egypt has embarked on a major overhaul of upgrades to infrastructure. Tullow Ghana and the Jubilee Partners will
its oil and gas sector in recent years to upgrade Libya’s Oil Ministry said earlier it aimed provide a total of $23.5mn during a five-year
and expand its refining capacity to increase the to push output up to 1.4mn bpd by December contract period which lasts until December 31,
value added from crude oil imports. Addition- 2021 and then to 1.6mn bpd by the end of 2022, 2026. It marks the first time that the Ghana Navy
ally, the discovery of the giant Zohr natural gas assuming that NOC receives the funding it will use its own vessels to provide security for the
field has turned the tables, swinging Egypt’s posi- needs from the new national government, which two oilfields.
tion from being a gas importer back to being an has yet to be elected. It also follows the Ghana Navy’s acquisition of
LNG exporter in less than a decade. bna/IntelliNews, January 16 2022 a new vessel with funding from the GCB Bank,
bna/IntelliNews, January 17 2022 which will provide protection within the Exclu-
sive Economic Zone (EEZ) covering the TEN
Egypt’s hydrocarbons TUNISIA and Jubilee fields.
bna/IntelliNews, January 18 2022
trade surplus shoots up by Tunisia’s energy trade BOST planning to lay

278% y/y in October 2021 deficit widens 18% at

Egypt’s hydrocarbon trade surplus shot to end-November 2021 new pipelines in 2022
$564mn in October 2021, up from $149mn in Ghana’s Bulk Oil Storage and Transportation
October 2020, largely because booming LNG Tunisia’s energy trade deficit widened by 18% company (BOST), a state agency, plans to lay
exports boosted exports of refined hydrocarbon year on year to TND5.055bn ($1.75bn) as of the new pipes across the Ghana in 2022 as part of its
products, Amwal Al Ghad newspaper reported, end of November 2021, according to a report ambitious expansion target, the Ghanaian Times
citing CAPMAS. from the Ministry of Energy, Mines and Renew- reports.
Hydrocarbon imports jumped by 44% year able Energy. The ministry’s data showed that One of the first lines planned would stretch
on year to $836mn on the back of an 85% y/y energy product exports surged 122% y/y, while some 240km from the capital Accra, by the Gulf
spike in exports of refined petroleum products imports went up 43% y/y. of Guinea, to the city of Kumasi, with the aim of
to $570mn, while imports of crude oil remained Petroleum products imports increased by cutting delivery costs, BOST managing director
flat at around $250mn in October 2021 com- 53% y/y at end-November 2021. Crude oil Edwin Provencal said.
pared to the same month the previous year. imports soared 162% y/y. Petroleum products “In the long term, the company is considering
Meanwhile, hydrocarbon exports grew exports rose 107% y/y. The demand for natural more pipelines. We hope to be at Bolgatanga, we
by 70% y/y to $1.4bn in October 2021, largely gas climbed by 5% and demand for petroleum hope to have another pipeline close to the bor-
reflecting a tripling of refined hydrocarbon products by 9%. der with Burkina Faso and hope to have another
exports to $931mn, propelled higher by sky- The ratio of primary energy resources to pri- from Accra to Takoradi, and then from Takoradi
rocketing LNG exports and record LNG prices mary consumption stood at 53% as of the end of to Kumasi,” he was quoted as saying.
on global markets Crude oil exports expanded November against 42% during the same period BOST’s network of pipelines comes with six
by 325% y/y to $330mn in October 2021. of 2020, the ministry said. depots nationwide which links the Tema Oil
bna/IntelliNews, January 15 2022 It added that the primary energy resources Refinery (TOR) to the Accra Plains Deport,
remain dominated by domestic oil and gas pro- which also links to the Mami Water Deport, and
duction, which together contribute to 77% of ends the Akosombo Deport located in the East-
L I BYA total primary energy resources. ern Region.
Approximately 97% of Tunisia’s electricity is As part of efforts to increase its product line,
Net revenues of Libya’s generated from fossil fuels, mainly natural gas. Provencal said that BOST, a state agency under
Only 3% of the country’s power capability is gen-
the Ministry of Energy and Petroleum, would
NOC hit $21.6bn in 2021 erated from renewables, comprising hydroelec- go into the LPG business, the Ghanaian Times
reported.
tric, solar, and wind energy.
Libya’s state-owned National Oil Corp. (NOC) bna/IntelliNews, January 16 2022 bna/IntelliNews, January 15 2022

P20 www. NEWSBASE .com Week 03 19•January•2022