Energy Sector Outlook Uncertain – ACEP

Dr. Mohammed Amin Adam addressing the gathering

The African Centre for Energy Policy (ACEP) has stated that the energy sector outlook for 2017 presents significant levels of uncertainty, urging political parties to clearly demonstrate how they intend to confront the challenge ahead.

Executive Director of ACEP, Dr. Mohammed Amin Adam, who made this known on Tuesday at the ACEP’s Citizens Energy Manifesto programme, said unfortunately beyond the projected oil production from the producing and development fields, Ghana is likely not to add significant levels of production for a long time even though most of its producing fields would have entered into their natural decline phase.

“Other factors that affect the oil outlook include the provisional ruling by the International Tribunal on the Law of the Seas on Ghana’s maritime dispute and the average period of 7 years between oil discovery and production as we strive to make new significant discoveries.

ACEP therefore urged Ghanaians to scrutinize the manifesto promises of the parties to determine which party has the best policies for managing and maximizing the use of Ghana’s oil revenue.

Again, ACEP asked Ghanaians to scrutinize how the political parties intend to attract investments, increase production and sustain the country’s emerging oil and gas industry.

Uncertainties

According to Dr. Amin Adam, the power sector has its own uncertainties largely due to unreliable supply of gas from Nigeria, likely suspension of indigenous gas supply due to planned repairs on the turret, and the increasing indebtedness of the utility companies and lack of reserve margin.

“History has also shown that anytime we are told the power crisis is over, it returns some years later. Ladies and Gentlemen, we must interrogate the manifestoes of our parties on how they intend to fix the power challenges permanently.”

An official of the Kumasi Institute of Technology and Energy, Ismael Edgekumhene, contributing to panel discussion at the ACEP’s Manifesto programme, said the various parties must be compelled to quantify their promises for the energy sector.

Meanwhile, Kweku Awortwi, former Chief Executive Officer (CEO) of the Volta River Authority (VRA), disclosed that the manifestoes of the National Democratic Congress (NDC), the New Patriotic Party (NPP) and Convention People’s Party (CPP) are all silent on the issue of inclusive growth within the energy sector.

 

By Melvin Tarlue

Comments