Michael Eboh
Dublin, Ireland — Refinery operators and petroleum products distributors in Africa, under the aegis of African Refiners and Distributors Association (ARDA), have applauded the owners of Dangote refinery in Nigeria and Sentuo Refinery in Ghana, which recently came on stream, especially for the roles these facilities would play in meeting the continent’s future energy requirements.READ FULL CONTENT
In a statement by the group, President of ARDA and Chief Executive of the National Petroleum Authority (NPA) of Ghana, Dr. Mustapha Abdul-Hamid, stated that Africa’s significant future energy demands will require major investments across the downstream value chain to deliver cleaner fuels and value-added petroleum products to its growing population.
JUST IN: TSASG Commends Tinubu for Swift Action Leading to Release of Kidnapped Schoolchildren
Abdul-Hamid noted that projects spanning infrastructure upgrades and logistics efficiency improvements must be pursued alongside cleaner fuel and vehicle initiatives.
He disclosed that ARDA is open to collaborate with the Organisation of Petroleum Exporting Countries (OPEC), African Petroleum Producing Organisation (APPO), the African Union Commission and other stakeholders to pursue a robust, intra-African oil and gas industry supported by innovative financing solutions like the African Energy Bank that is due to take off later this year.
Also speaking, Executive Secretary of ARDA, Anibor Kragha said ARDA would continue to promote a targeted, unique African Downstream Energy Transition Plan supported by innovative financing solutions which would be showcased during the first-ever ARDA Investment Forum.
Kragha said: “Africa needs to be very intentional as we follow a coordinated strategy to execute bankable, energy infrastructure projects focused on balancing our continent’s energy security requirements with the global energy transition agenda.
“Our first ARDA Investment Forum will focus on fleshing out the key best practices – robust regulatory frameworks to support investments, effective project preparation to determine the scope, cost and schedule for economic projects, fulfilment of critical environmental, social and governance (ESG) requirements and targeted human capacity development objectives – are emplaced to attract the necessary project financing solutions to ensure that investments are made as envisioned to deliver Africa’s Energy Transition Plan.
“We must harness our critical human and mineral resources to target critical pools of capital to eradicate energy poverty and unleash the cleaner energy required to enable the continent’s transition to a low-carbon economy.”
He said the ARDA will converge next month over key industry issues and financing solutions for sustainable infrastructure projects on the continent, especially in the oil and gas downstream segment.
According to him, the event, taking place in Cape Town, South Africa is coming on the backdrop of the push for energy security for Africa amidst dwindling financial options for fossil fuel due to net-zero concerns.
At the conference, Kragha said sessions would discuss pan-African challenges and opportunities regarding the Post COP 28 to ensure a coordinated, robust intra-African oil & gas industry alongside implementation of energy transition aspirations.
He added that the conference would also look at the future of cleaner fuels in Africa, especially LPG, Biofuels and Hydrogen while prioritising Environmental, Social and Governance (ESG) issues.READ FULL CONTENT
