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Play the man not the ball
When Prof Sospeter Muhongo (minister of Energy and Minerals 2012-15) opined that the Julius Nyerere Hydro-Power Project (JNHPP) will take many years to financially benefit the country - and that Tanzania should instead go for natural gas for power generation - his Geita Rural counterpart, Mr Joseph Kasheku, said the professor has failed to help the country in addressing its challenges.
https://www.thecitizen.co.tz/tanzania/news/ccm-lawmakers-continue-to-clash-over-magufuli-s-legacy-3364672
With Magufuly in the turf The Citizen is permitted to reveal
Tanzania Electricity Supply Corporation (Tanesco) has failed to update all aspects of the feasibility study conducted earlier in the construction of the Nyerere Dam Power Project (JNHPP), according to the Auditor General's report.
Instead, Tanesco relied on feasibility studies conducted in the 1970 and 1972 by Norwegian company M / S Norconsult.
The agency is also using a project plan and technical investigation report conducted by M / S Hafslund and M / s Norplan (both from Norway) which updated the feasibility study features in 1980.
https://www.thecitizen.co.tz/tanzania/news/julius-nyerere-hydroelectric-power-project-using-1970-feasibility-study-3354208
Think liquidity and the power of retailers.
Which has never been in Bob McBean's line of thought.
Spring 2012, through no choice of his own, Bob met with a group of retailers in Oslo and uttered the unforgeteable words "Promotional work is a waste of my time". He seems to have been backed by the whole board.
Katharine, however, is doing a great job:.
Mnazi Bay total production MMcf/d .. % M&P 48.06 / WEN 31.94 / TPDC 20.00
Year****Q1***Q2***Q3***Q4*****9mo** 12mo
2015*********************43.0**************** 70-80 expected for 2016
2016**47.5**51.0**34.3**39.3****34.0** 43.1
2017**43.3**30.7**60.0**62.2****45.0** 49.1
2018**77.0**81.6**86.7**87.2****81.8** 83.1
2019**75.7**58.7**77.8**71.0****70.1** 70.3
2020**63.9**52.9**68.8**61.9***************** nov 74.2
Mnazi Bay total production MMcf/d .. % M&P 48.06 / WEN 31.94 / TPDC 20.00
Q1 Q2 Q3 Q4 9mo 12mo
2015 43 . 70-80 expected for 2016
2016 47.5 51.0 34.3 39.3 34.0 43.1
2017 43.3 30.7 60.0 62.2 45.0 49.1
2018 77.0 81.6 86.7 87.2 81.8 83.1
2019 75.7 58.7 77.8 71.0 70.1 70.3
2020 63.9 52.9 68.8 61.9 nov 74.2
11.08.2020
45MW -- The new power plant is due to be fully commissioned in November
The Mtwara plant has not operated at full capacity during 2020, but the new power plant should help energy efficiencies.
"We have had mechanical failures of some main equipment in the first four months of the year, and our maintenance to sustain reliability delayed because of the late delivery of material needed for the maintenance of our kiln," said Mr Corcos, Dangote Tanzania country manager.
https://www.cemnet.com/News/story/169342/dangote-to-test-us-90-power-plant-for-mtwara-cement-factory.html
This is a Norwegian pay service.
(Deduct one hour for UK time)
Monday, March 23
18:15:00 16 200000 8 PT
14:42:54 15.5 4000 7 PT
14:40:44 15.54 15000 6 PT
14:39:29 16 50000 5 PT
11:14:57 16 20000 4 PT
11:14:54 16 6000 3 PT
11:14:50 15.5 2499 2 PT
11:14:47 15.5 2500 1 PT
Friday, March 20
17:35:48 16 100000 15 PT
17:17:09 16 75000 14 PT
18:07:44 16 10000 13 PT
17:35:28 16 70000 12 UT
15:00:03 16 99000 11 UT
13:58:51 16.7 583 10 PT
12:43:09 16 25000 9 PT
12:19:55 16 10000 8 PT
12:01:53 15.99 25000 7 PT
12:00:03 15.5 90000 6 UT
11:52:13 15 2478 5 PT
10:08:07 16 10000 4 PT
10:00:23 15.5 10000 3 UT
09:53:15 15 2500 2 PT
09:53:05 16 2500 1 PT
You are correct. Eg. 200,000 x 16p went through late afternoon yesterday.
And a total of approx 532,000 on Friday.
confidentiality does not permit him. WEN says he and the company are still friends
Eskil had great hopes of pulling off a M&A , but now the company is turning towards Tanzania
See commentary from MALCY: https://www.malcysblog.com
and 'Boys Club of Oil and Gas CEOs Sees Woman Join Their Ranks'
https://www.bloomberg.com/news/articles/2019-11-13/boys-club-of-oil-and-gas-ceos-sees-woman-join-their-ranks
Yesterday Eskil quit Wentworth after 1.5 years as CEO.
Much to my surprise and without giving notice.
What did he do for Sterling?
President Magufuli has placed his political commisaries in strategic positions to secure that this kind of crap is fed into the news on a regular basis. Its all about reelection and no one in the industry pay attention.
90% of all decisions in the country go through a person who has no understanding of energy.
A year ago I read Magufuli had promised gas to potential fertilizer companies at lower price than producers would deliver.
Fortunately his flirt with the Chinese is not so hot after he has learnt what happens to those who default on payments.
TZN authorities make it sound like Equinor is done a favor when allowed to invest.
27 Mar 2019 upstreamonline.com
Tanzania set for talks with Equinor over Lindi plant
Tanzania’s government is set to begin talks with Norway’s Equinor early next month to establish a framework that will allow the operator to progress with its long-delayed plan to build a liquefied natural gas plant on the coast north of Lindi.
Medard Kalemani, Tanzania’s Minister of Energy, held a meeting late last week with Mette Ottoy, Equinor’s country manager, to outline the Dodoma-based authorities’ proposed schedule for concluding a host government agreement (HGA).
Commenting on this meeting, Kalemani said: “The government has decided to implement this project due to its importance in the growth of the country's economy, so we have planned that project negotiations start in April and complete in September this year.”
An Equinor spokesman said: “We’re very pleased the Tanzanian authorities have decided to proceed with these negotiations and (we) have received indications that they’re quite imminent with regards to start-up.”
Feb 15, 2019 - An independent report into Tanzania’s Stiegler’s Gorge dam predicts that its cost estimate of $3bn will rise to almost $10bn in practice, and argues that the money would be better spend developing the country’s wind and solar potential.
Report author Joerg Hartmann, an independent hydropower expert, argues that although the dam would expand Tanzania’s generating capacity from 1.5GW to 3.6GW, the first stage of the project would take nine years to complete, and that if the cost of finance and inflation were taken into account, as well as a 30% cost overrun, the true cost of the scheme would be $9.9bn.
Hartmann says the 30% cost overrun is a conservative estimate, given that studies show most hydropower projects go even more over budget.
The report argues that if this were the case, the cost of electricity produced by the dam would be 116 cents a kilowatt hour, which is higher than the retail price of electricity in the country, making it difficult for the government of Tanzania to recover its investment in the project.
The report was published by OECD Watch, a network of NGOs with more than 130 members in some 50 countries.
http://www.globalconstructionreview.com/news/tanzanias-steiglers-gorge-dam-cost-more-double-ori/
Egypt is not happy about Ethiopia building a huge dam across the Nile and wish to regain some control of the upper parts of Nile
President Magufuli is clearly in a hurry. But have in mind that building the Ethiopian dam (GERD).started 2011 and was 60% complete Aug 2017. The reservoir will take 5 to 15 years to fill, but as yet no opening date is announced.
Dec 13, 2018 - Dam signing ceremony article
The President of Tanzania, John Magufuli begun his speech with the Christ who fled and sought refuge in Egypt from our enemies, and continued "Nowadays when we wanted to develop and construct Rufiji's Dam we aimed to Egypt for helping us in this project for our great trust in the abilities and greatness of the Egyptians."
...
The Tanzanian President asked the Arab Contractors Company to accomplish this project before its scheduled completion period which is 3 years.
http://www.arabcont.com/English/News/Release-2018-1318.aspx
----------------------------------
Nov 18, 2018 --- Feasibility study???
CAIRO — Egypt’s Arab Contractors is currently conducting a feasibility study on the Stiegler's Gorge hydroelectric power station on the Rufiji River in Tanzania after head of Arab Contractors Mohsen Salah announced Oct. 22 that the company had been awarded the design and construction contract of the power station.
https://www.al-monitor.com/pulse/originals/2018/11/tanzania-stiegler-dam-egypt-nile-river-upstream-tension-nbi.html
LNG is 10+ years away
The 2100 MW Stiegler's dam is, according to this latest article, expected to produce 5,920GWh per year.
Which implies an average production of 5,920,000 MWh / (365x24) = 675 MW
Magufuli better wake up because even from next year Tanzania will be desperate for more energy.
https://www.ippmedia.com/en/news/stieglers-gorge-dam-project-preparations-almost-finished.
19.12.18 - Tanzania ups the pace on LNG
https://www.ippmedia.com/en/business/tanzania-ups-pace-lng-project
Tanzania cannot afford more fear of decision making.
18.12.19 - Mining legislation: Open letter to President Magufuli
https://www.thecitizen.co.tz/oped/-Mining-legislation--Open-letter-to-President-Magufuli/1840568-4900174-75qysz/index.html
Constructing Stiegler in three years is ridiculous.
10 years minimum and a cost overrun of 100% is my guess.
Financing is tenuous, according to info from Dar.
9 mins.on dams at BBC World a few days ago:
"From Dam Lies and Statistics
Mega-dams have become one of the biggest providers of renewable energy but how sustainable are they? More or Less weighs up the financial, social and environmental costs."
https://www.bbc.co.uk/programmes/w3cswk3b
Sources tell me kidnapped and later released billionaire Mohanned Dewji owned land in the affected area :
Oct 2018 - Who would want to kidnap Mohammed Dewji?
https://www.theeastafrican.co.ke/news/ea/Tanzania-billionaire-Mohammed-Dewji-kidnap/4552908-4803732-u7okibz/index.html
I had better luck.
Q:
I am confused concerning the Production and operating expenses
I thought the 1.47 MUSD under Operating expense was Wentworth's share of M&P's expenses
Then, what does the following cover:
"Current liabilities include outstanding cash calls issued by the Operator of the Mnazi Bay Concession for H1 2018 operating costs of $3.49 million. Since June 30, 2018, the Company has settled $2.66 million."
A:
The $1.47m in the P&L reflects accrued operating costs for the period. The $3.49m on the balance sheet reflects amounts cash called by M&P in that period ($2.66m) plus $0.83m of indirect overhead re-charge which is a liability under the JOA.
Cash calls included opex and some capex. Capex is capitalised on the balance sheet not run through the P&L.
(17 mins) http://home.broadpark.no/~borsdata/WRL/DIV/171114_WRL_Q3_2017_CC.amr
Today's update from M&P shows daily average of 60 MMcfd for Q3, which impies 66 MMcfd for September http://www.maureletprom.fr/en/relations-investisseurs/communiques-de-presse ----------------------------------------------- 23-27.10 -- Africa Oil Week 26.10 - 09:30-10:30 - Developing Gas Resources -- Mocambique , Chairman, Mozambique national oil company -- Senior VP, E&P, Sasol, South Africa -- Jay Bhattacherjee, CEO, Aminex, UK -- Principal Investment Officer, IFC, USA Q&A -- Moderator: Geoff Bury, Managing Director, Wentworth Resources Wenworth informs: It is more a panel discussion about developing gas resources and a debate with a group of like-minded people.