World leaders and corporate executives expressed hope that the looming recession facing the global economy could be avoided if countries collaborated to boost global trade and investment.
Energy services provider Expro, announced a long-term Production Solutions contract with Eni Congo, a subsidiary of multinational energy company Eni, for a liquified natural gas (LNG) pre-treatment facility in Congo, Brazzaville.
Sasol the South African Company partnered with Algerian, Sonatrach for the production of hydrogen and low carbon syngas in Italy.
Criterion Africa Partners has completed an investment of up to $17.1 million in Form Ghana, one of the largest reforestation companies in Africa.
Nigeria, Egypt and Kenya to be among the top 10 countries to benefit from adaptation investment, study
Failure to invest the bare minimum needed to withstand projected climate damage could cost emerging markets hundreds of billions in climate damages and lost GDP growth this decade, according to a new study by Standard Chartered.
According to the agreement, Afentra will assume a four percent interest in each of the respective blocks, working in partnership with national oil company Sonangol to maximize output and extend the lifespan of the assets.
Orange et BUTEC annoncent la mise en service de la solarisation du Groupe Orange Services (GOS) afin de satisfaire 50% de la consommation d’énergie en journée du principal Data Center d’Orange en Afrique
Low-carbon investments to rise by $60b in 2023 as inflation weakens, hydrogen and CCUS spending to surge, Rystad Energy
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments but helped by a significant rise in funding for hydrogen and CCUS infrastructure, Rystad Energy research shows.
Eni announced a significant new gas discovery at the Nargis-1 exploration well located in Nargis Offshore Area Concession, in the Eastern Mediterranean Sea, offshore Egypt.
Yinson Production (YP) announced it has successfully completed the 16-year contract for FPSO Adoon, which has been operating at Block OML 123 offshore Nigeria.
Wintershall Dea has found gas in its East Damanhour exploration block in the onshore Nile Delta, Egypt
The Opec Fund for International Development (OFID) has approved loans totaling $500 million for several countries around the world, including a large part in Africa to develop renewable energy, provide access to water and improve food security in the face of external constraints.
Following an agreement forged during the Namibian International Energy Conference in 2022, a youth training initiative launched by Namibia and Equatorial Guinea has set the tone for an ambitious local content drive that will position Namibia as a competitive hydrocarbon producer.
PGS announced it will support the recently announced Nigeria 2022 Mini Bid Round with an excellent range of 3D coverage over the seven blocks on offer.
Dolphin Drilling announced that Blackford Dolphin has signed a Letter of Award (LOA) for additional work in Nigeria in direct continuation with the previously announced contract with General Hydrocarbon Limited (GHL).
Shelf Drilling announced it has secured a one-year contract extension for the Trident 16 jack-up rig in direct continuation of its current term with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez offshore Egypt.
Globeleq has signed financing agreements with the AfDB, Finnfund and the Eastern and Southern African Trade & Development Bank (TDB) with regard to the US$72 million debt funding for the 35MW Menengai geothermal project in Nakuru County, Kenya.
97% of Kenyan respondents say climate change is already affecting their everyday life.
91 % de la population ivoirienne interrogée estiment que les changements climatiques ont déjà des répercussions sur leur quotidien.
[EIB]:Une nouvelle étude confirme l’extraordinaire potentiel de l’Afrique dans le domaine de l’hydrogène vert
La Banque européenne d’investissement, l’Alliance solaire internationale et l’Union africaine dévoilent une étude sur le potentiel de l’Afrique en matière d’hydrogène vert, avec le soutien de l’État mauritanien, d’HyDeal et de CGLU Afrique
As part of its intervention efforts in the Africa’s energy sector, FEDA has made a strategic decision to support leading energy platforms across Africa, including the renewables and transition fuels sectors.
Eni a annoncé le lancement d'une deuxième installation flottante de gaz naturel liquéfié au large de la République du Congo, dans le but d'accroître la production et les exportations de GNL du pays.
Cette opération qui vise à lever FCFA 78 milliards s’inscrit dans le cadre du programme triennal d’Emprunt Obligataire de la BDEAC et a pour objectif la mobilisation des fonds qui serviront à financer des projets de développement dans des secteurs aussi variés que ceux du Transport, l’Energie, l’Industrie, l’Agro-industrie, le Tourisme, la Santé, l’Education, etc
This Ukraine crisis escalated on 24 February 2022 and has tremendously impacted the global socio-economic terrain. The situation has and will continue to affect the African continent's financial system and food and energy security.
Harnessing Africa’s solar energy to produce 50 million tons of green hydrogen a year by 2035 can help secure global energy supply, create jobs, decarbonize heavy industry, enhance global competitiveness and transform access to clean water.
The Italian Agency for Development Cooperation (AICS), the Embassy of Italy in Nairobi and Eni have launched SEMAKENYA II programme to test climate-resilient agronomic practices and technologies in Makueni County.
Tlou Energy announced it has received firm commitments to raise ~£1.695 million before expenses pursuant to a placing of 87,796,135 new ordinary shares of no par value ("Ordinary Shares") at an issue price of ~£0.02 per share.
Eco Atlantic confirms it has now received the requisite regulatory approvals from the Department of Mineral Resources and Energy of South Africa and the Petroleum Agency of South Africa, in respect of acquisition by its wholly owned subsidiary Azinam.
At the U.S.-Africa Business Forum, U.S. International Development Finance Corporation (DFC) announced active commitments across Africa totaling more than $11 billion. This includes $369 million of new active commitments announced as part of the U.S.-Africa Leaders Summit.
Tullow signe un contrat de partage de production pour une nouvelle licence d'exploration offshore en Côte d'Ivoire
Tullow Oil plc (Tullow) a annoncé la signature d'un contrat de partage de production (CPP) pour le permis d'exploration offshore CI-803 en Côte d'Ivoire.
To date, approximately USD 700 million dollars of financing has been extended by TDB in Rwanda across several sectors including transport, namely road and aviation financing, lending to financial institutions for infrastructure, healthcare and SME projects among others, and lending for electricity generation projects.
L'acquisition par Savannah de la participation d'ExxonMobil dans les champs de Doba et le pipeline TOTCO a été menée en pleine conformité avec les exigences des autorités compétentes.
EPPM à Tunis et Kivu Power à Kinshasa ont atteint la phase finale de la sécurisation de l’ensemble des autorisations administratives permettant le démarrage en 2023 du chantier de leur projet de conversion du gaz méthane en électricité sur le lac Kivu.
Secteur privé pourrait permettre de stimuler la croissance et créer plus d’emplois au Cameroun,Banque Mondiale
Selon un nouveau rapport publié par la Banque mondiale, le Cameroun pourrait créer de nouvelles sources de croissance économique et stimuler son développement en renforçant la participation du secteur privé dans son économie.
The Board of Directors of the African Development Bank has approved a loan of $179.66 million to support government reforms to restore post-pandemic fiscal stability and economic recovery.
Germany's funding will be channelled as immediate support, through existing IFAD programmes operating in countries that are hardest hit by setbacks.
As startups successfully raise funding, they are boosting their product and service portfolio while setting sight on the East African region for expansion. This
AFRICA needs to mobilise a staggering US$170 billion annually in long term financing to develop infrastructure key sectors, agriculture included to accelerate growth dwarfed by the COVID 19, conflicts and climate change.
NopeaRide, the first fully-electric taxi company that has been in operation since 2018 is folding up its business in Kenya, after failing to raise additional funding to keep it afloat.
Proparco has just made a USD 10m subscription to a green bond arranged by Symbiotics Investments; the proceeds from the bond will be on lent to GreenLight Planet, one of the leading Solar-Home System actors in Sub Saharan Africa, to support its activity in providing access to energy for off-grid customers in underserved African markets.
Woodside Energy has passed another important milestone for the Sangomar Field Development Phase 1 with the completion of the construction phase for the FPSO facility which will be deployed at the field offshore Senegal.
Solarise Africa, a pan-African Energy-as-a-Service company that provides reliable and affordable energy solutions across Africa has raised $33.4M to expand its portfolio in Kenya and other countries.
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
The plan targets improving network energy efficiency through the increase of green power usage to replace traditional fossil fuel power.
EBID grants €10m loan facility to ECO Oil to enhance distribution of petroleum products to Burkina Faso and Niger
The ECOWAS Bank for Investment and Development (EBID), signed a €10 million loan agreement with ECO Oil of Burkina Faso, to enhance the distribution of petroleum products to Burkina Faso and Niger, by ECO Oil’s sister companies.
Energy producer, Kenya Electricity Generating Company PLC (KenGen) has launched a pilot project for Electric Vehicles (EVs) in Kenya, a move it says is to support its diversification ambitions in the e-mobility sector.
Standard Bank Group, of which Stanbic Bank Zambia is a member, has stated that R50 billion has been set aside for renewable energy projects over the next three-years across all its operating regions.
The African Energy Chamber (AEC) has announced that African Energy Week (AEW), Africa’s premier event for oil and gas sector, will return in 2023 from October 16 – 20 to drive Africa’s energy sector growth and make energy poverty history across the continent by 2030.
This modernization increased the turbine’s output by 5.1 Megawatts (MW), more than doubling the previously expected power output increase of 2.5 MW - and effectively bringing the cumulative power increase on all three turbines to over 10 MW.
UTM Offshore to sign an agreement for the Front-End Engineering Design (FEED) for Nigeria's first Floating Liquefied Natural Gas (FLNG) facility with engineering firms KBR, JGC Corporation and Technip Energies.
[Column] NJ Ayuk: How Africa can capitalize on its mineral wealth to develop an electric vehicle value chain
As the entire global transportation marketplace marches toward an increasingly electrified and battery-powered future, many countries across the African continent stand at the threshold of profound economic opportunity.
ICIEC signs landmark cooperation MoU with AFC to promote the origination, financing and execution of climate action projects in the African Member States utilizing ICIEC’s De-Risking Solutions.
Le Ministère de l’Economie, du Plan et de la Coopération et l’Agence française de développement (AFD) ont signé une convention de financement visant à améliorer l’accès à l’électricité dans les concessions d’électrification rurale de la Senelec de Matam et de Ziguinchor, pour un montant de 30 millions d’euros (19,5 milliards FCFA).
African Export-Import Bank (Afreximbank) has announced a historic lending arrangement to Botswana, in the form of a three-year Country Programme of up to US$1.5 billion(on a net basis), with funding for up to seven years for eligible transactions.
The African Petroleum Producers Organization (APPO) has reappointed Dr. Omar Farouk Ibrahim as its Secretary General during the APPO Ministerial Council Session held in Luanda, Zambia, a move that will usher in a new era of growth across the continent's hydrocarbon industry.
Tlou Energy announced it has raised $1.3 million via placement, for the development of its Lesedi Power Project including construction of substations to connect to the existing electricity grid in Botswana.
La société publique en charge des hydrocarbures en Algérie, Sonatrach a paraphé un protocole d’accord avec la holding Sociétés des Pétroles du Sénégal (Petrosen SA) pour explorer les perspectives d’une collaboration conjointe dans le secteur pétrogazier.
The newly commissioned terminal which will focus on efficient petroleum products distribution is valued at over $1billion and was financed by a consortium of Nigerian banks led by Fidelity Bank Plc.
Afreximbank signs MoU with the African Energy Chamber to promote the growth of Africa’s energy sector
The MoU provides a framework for collaboration to facilitate the harmonisation of the two institutions’ mutual efforts in support of the African energy sector.
Africa Energy Week 2022 ends on a progressive note with a partnership between Nigerian Energy Accelerator, Moneda Invest Africa and National Oil Company of Namibia [Namcor] on local content development and energy financing.
Using edge computing to move the processing of data closer to where it’s created can reduce the amount of data centre capacity you need.
The Public Investment Fund (“PIF” or the “Fund”) announced the auction resulted in 1.4 million tons of carbon credits, in the largest-ever carbon credit sale, according to their resources.
ACWA Power and Industrial Development Corporation of South Africa set to explore green hydrogen projects
The agreement signed during the state visit of the President of South Africa to Saudi Arabia intends to accelerate the green hydrogen economy in South Africa and paves the way to project(s) potentially valued at US$10 billion
Africa Fortesa Corporation Executive Chairman Rogers Beall won lifetime achievement award at AEW2022
Rogers Beall, Executive Chairman at Africa Fortesa Corporation, represented one of the winners of the Mohammed S. Barkindo Lifetime Achievement Award at the African Energy Week Awards this year in Cape Town
British International Investment to invest in clean energy and back inclusive economic growth in South Africa
British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, launched its new name at a business reception in Johannesburg and reaffirmed its commitment to invest to accelerate South Africa’s economic dynamism.
With loadshedding recently declared the 2022 word of the year by the Pan South African Language Board - retailers, brands, and manufactures have faced heavy knocks in a sector that is still in recovery post lockdown
FSD Africa announced the appointment of Arunma Oteh, a seasoned business leader, to the Board of Directors to support the organisation’s work to strengthen and deepen Africa’s financial markets, particularly in the area of green finance.
Afreximbank Signs US$635-Million Reserve-Based Facility Term Sheet with Amni International Petroleum Development Company Ltd.
PGS has been awarded a 3D exploration acquisition contract in Namibia by a major energy company. Ramform Titan will mobilize for this survey and acquisition is expected to complete mid-February 2023.
Le fonds géré par Lion's Head Global Partners, la Facilité pour l'inclusion énergétique ("FEI"), a réalisé son premier financement à court terme en accordant une facilité de 7,0 millions d'euros à AktivCo, la société de services énergétiques ("ESCO") de Camusat.
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
Kenyan-Swedish electric vehicle manufacturer Roam has launched the first mass transit electric bus to ply various routes in Nairobi.
The African Energy Chamber (AEC), as the voice of the African energy sector, and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to enhance private sector investments across Africa’s oil and gas industry.
The link supplies up to 1,000 megawatts of emission-free electricity from the Inga Falls hydropower plant in the far west of the country to the Kolwezi mining region in the south.
Eco Atlantic, the oil and gas exploration company focused on the offshore Atlantic Margins, announced the arrival of the Island Innovator Semi-Submersible Drilling Rig on Block 2B and the commencement of operations of the Gazania-1 Exploration Well.
Sintana's Trago Energy completes transaction with Chevron Namibia in respect to its interests in PEL 90
Sintana Energy announced that Trago Energy, a Namibian affiliate of the Company, has completed a transaction with Chevron Namibia, in respect of its interest in Petroleum Exploration License 90 (PEL 90) located in the Orange Basin in Namibia.
MTN South Africa’s head office is quickly “going green” as plans to achieve net zero carbon emissions by 2040 gain further momentum.
This was the message from several delegates to the VIP and Ministerial Symposium of this year’s Africa Oil Week conference running from 3 to 7 October, at the CTICC.While there is consensus on the need for low-carbon energy, the new energy mix must also support Africa’s social development and the upliftment of its people.
OVH Energy BV, a joint venture between Vitol and Helios, has completed the sale of its 100% share in OVH Energy Marketing Limited and ASPM Limited to Nueoil Energy Limited, a local Nigerian company.
Président de la République du Congo, Denis Sassou Nguesso, a rencontré à Brazzaville,PDG d'Eni, Claudio Descalzi, pour discuter des principales activités de la société dans le pays, ainsi que d'autres initiatives innovantes, conformément à l'engagement de la société pour une transition énergétique juste.
Italy’s CDP agrees debut EUR 100 million loan for Africa Finance Corporation to support transition in Africa
The Italian development finance institution Cassa Depositi e Prestiti SpA (CDP) has agreed a debut 100 million euro loan for Africa Finance Corporation (AFC) to facilitate investments in renewable power, energy efficient projects and climate-resilient infrastructure.
Merger and acquisition (M&A) deals across Africa’s oil and gas upstream sector in 2022 have reached a new record with $21 billion worth of deals having being announced in the past nine months, following a decline since the onset of the COVID-19 pandemic in 2020, according to a new study released by market intelligence company, Rystad Energy.
Electric bus manufacturers are always trying to improve efficiency and increase the range of their vehicles.
The focus of the conference, organized by the African Development Bank and Transnet was building integrated regional freight system(link is external)s to boost intra-African trade and Africa's global trading position.
PGS has secured solid industry pre-funding for a MultiClient survey in West Africa. The Ramform Atlas is scheduled to mobilize for the survey late October and acquisition is expected to complete early January.
The Global Center on Adaptation, African Development Bank, and Climate Investment Funds has launched a call for applications for the second edition of the African Youth Adaptation Solutions (YouthADAPT) Challenge.
Baptisés « Greenrides », ces véhicules disposant d’une batterie rechargeable sur une borne alimentée à l’énergie solaire, et jouissant d’une autonomie de 250 km une fois chargés à 100%, font essentiellement des courses, dont le prix est identique à celui de la course à bord de véhicules ordinaires, apprend-on.
Invictus Energy announced that drilling of its 80% owned and operated Cabora Bassa project in Zimbabwe at the Mukuyu-1 exploration well in SG 4571 has commenced.
Research released from Climate Policy Initiative finds that total annual climate finance flows in Africa for 2020, domestic and international, were only USD 30 billion, just 11% of the USD 277 billion needed annually.
Encourager la réduction des émissions polluantes, et promouvoir l’adoption et l’utilisation de l’énergie propre et renouvelable. Tels sont les objectifs que s’est fixé la MauBank en lançant le Green Financing Scheme à l’intention des particuliers et des entreprises.
Le 132ème Conseil d’Administration de la BOAD autorise de nouveaux engagements pour 349,5 milliards FCFA.
Le Conseil d’Administration de la Banque Ouest Africaine de Développement (BOAD) s’est réuni en présentiel à Cotonou au Bénin pour sa 132ème session ordinaire, sous la présidence de Monsieur Serge EKUE, Président du Conseil d’Administration, Président de la BOAD.
A gas pipeline megaproject Memorandum of Understanding (Mou) has been signed between ECOWAS, Nigeria and the Kingdom of Morocco.
ReconAfrica has entered into a definitive purchase and sale agreement with its partner, NAMCOR, to acquire half of NAMCOR’s 10% carried participating interest in the approximate 6.3 million acres petroleum exploration licence in the Kavango basin, Namibia.
President Hoyer addressed the Africa Adaptation Summit in Rotterdam, the first-ever global summit to focus solely on accelerating climate adaptation in Africa.
The agreement is set to reinforce European energy security and assist with the sustainable development of West African countries.
The EBRD and donors are enabling Abou Ghaly Motors (AGM), a leading transport provider in Egypt, to purchase 250 range-extended electric vehicles (REEVs) for its taxi services, in a boost for the development of the country’s e-mobility sector.
Pancontinental Energy’s 66.67% subsidiary, Pancontinental Namibia (Pancontinental), has decided to withdraw from the process of seeking an extension to the original PEL 37 Licence offshore Namibia.
Representing the official partner of AEW 2022,delegation from Afreximbank led by the organization’s Chairman and President, Prof. Benedict Oramah, will be coming to AEW 2022 to lead discussions, sign oil and gas deals, and reshape the narrative on Africa’s energy future.
Korea Hydro & Nuclear Power (KHNP) – subsidiary of South Korea’s state-owned utility, the Korea Electric Power Corporation – has won a contract to the tune of $2.25 billion whereby the company will provide buildings and components for Egypt’s first-ever nuclear power plant.