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[Nigeria] NNPC signs deals to renew OML 130 block
Nigeria’s state-owned oil company Nigerian National Petroleum Company has renewed agreements pertaining to the Oil Mining Lease 130 (OML 130) located offshore Niger Delta, with Total, China National Offshore Oil Corporation and others.
Perenco lance une nouvelle plateforme pour optimiser la production de brut
En République démocratique du Congo (RDC), la compagnie pétrolière et gazière Perenco a officialisé la mise en service d’une nouvelle plateforme de production en mer, à Muanda, à l’extrême ouest du pays.
Africa Oil announces the decision to withdraw from its Kenya Project
Africa Oil Corp. announces that it has submitted withdrawal notices to its joint venture partners on Blocks 10BB, 13T and 10BA in Kenya.
Eni and Sonangol expand cooperation in sustainable energy transition areas
Under the terms of the MoU, Eni and Sonangol will jointly identify and assess opportunities in the areas of Energy transition, including agro-industrial supply chains for the production of low carbon fuels, valorization of residual biomass and green ammonia for agro-industrial applications.
[Nigeria] NCDMB pushes for increased women CEOs in oil industry
The training, based on a course content developed by the United Nations Conference for Trade and Development (UNCTAD), is being conducted by international master trainers certified by the United Nations agency.
Equinor, ExxonMobil, Shell conclude talks for mega LNG project in Tanzania
Energy giants Equinor, Shell and Exxon Mobil have concluded talks with the Government of Tanzania over the construction of a mega LNG export facility in the East African country.
[Column] Gawie Kanjemba: The state of play of African oil and gas
Historically, oil and gas projects are known to experience delays ranging from 5% to 20% of the project duration owing to project complexity, significant capital requirements and the multi-faceted nature of developments.
[Nigeria] Dangote Industries readies to open Africa's largest refinery
The company expects the facility's crude distillation unit (CDU) will begin commercial operations by the end of June.
Kazyon attracts $165 million investment from DPI-led consortium
Egypt’s leading discount grocery retailer, Kazyon, attracts $165 million investment from a DPI-led consortium to fuel continued growth and regional expansion
La protéction des intérêts des pays membres de l'APPO par Banque Africaine de l'Énergie
Le Secrétaire général (SG) de l'APPO, SE Dr Omar Farouk Ibrahim, a assuré les pays membres de la protection de leurs intérêts dans la Banque africaine de l'énergie.
Tower Resources applies to extend its exploration license on the Thali block
Tower Resources announced the application to raise the necessary financing for the drilling of its oil wells on the Thali block (119.2 km²) in the Rio del Rey basin in Cameroon.
[Column] NJ Ayuk: The outlook for African oil in 2023 is promising
Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated demand for crude oil, and African exports dropped sharply.
Eni inaugure le projet Congo GNL en République du Congo
Le lancement du projet visant à transformer le pays en exportateur de gaz naturel a été marqué par une cérémonie en présence du président du Congo et du PDG d'Eni.
Completion of Acquisition of Minority Share in Panoro’s Tunisian Business
Panoro announced it had entered into a definitive agreement with Beender Tunisia Petroleum Limited to purchase its 40 percent shareholding in Sfax Petroleum Corporation AS.
Africa Finance Corporation acquires Aker Energy
Through the transaction, AFC will become the sole shareholder of Aker Energy, and thereby 50 percent owner of the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana, comprising discoveries of 450-550 million barrels of oil equivalents, including the Pecan field.
Le nigérian Anibor Kragha réélu pour un second mandat en tant Secrétaire Exécutif de l’ARDA
Anibor Kragha a été réélu à l’unanimité pour un second mandat en tant que secrétaire exécutif de l’Association africaine des raffineurs et distributeurs, ce qui témoigne de son rôle déterminant dans l’organisation.
The reasons behind the massive success of blockchain in the oil industry
The oil industry has been a staple of the global economy for centuries, providing energy and raw materials that drive growth and development.
Eni celebrates sail away of FPSO Firenze to Baleine Field Offshore Côte d'Ivoire
The FPSO Firenze will allow production start-up of the Baleine field, which is the largest hydrocarbon discovery in Côte d'Ivoire.
[Column] NJ Ayuk: Natural gas is key to addressing South Africa’s energy needs today and tomorrow
As the country’s fleet of mostly coal-powered plants struggles to keep up with electricity demand, South Africans are enduring daily power outages that last six to 10 hours a day.
[Nigeria] NCDMB performs groundbreaking of pipe manufacturing plant at Polaku
The plant would manufacture Glass Reinforced Epoxy (GRE) and Glass Reinforced Plastic (GRP) pipes and has an estimated investment outlay of about N7.04 billion ($8.8million).
BW Offshore a prolongé le contrat avec Espoir Ivoirien et FPSO au Nigéria
BW Offshore Limited a signé une extension à court terme pour la location et l'exploitation du FPSO Espoir Ivoirien afin de discuter d'un achat potentiel du FPSO par le client.
[Nigeria] NCDMB, FIRS offer tax incentives for oil industry research and development investments
He hinted that many oil and gas companies were oblivious ofthe opportunities that exist within Nigerian tax laws for the oil industry to harness from investing in Research and Development.
[Column] NJ Ayuk: Time to break the deadlock on TotalEnergies’ offshore gas deal
There’s another complication at hand, in that South Africa’s government has pledged to reduce the power sector’s carbon emissions intensity.
[Column] NJ Ayuk: How domestic gas production can help mitigate South Africa’s energy crisis
The country’s fuel and energy sector is truly in trouble, with power shortages and blackouts worse than ever before.
Equatorial Guinea, Cameroon bilateral agreement signals new era of cross-border cooperation in Africa
The respective Presidencies of Equatorial Guinea and Cameroon have signed a bilateral cooperation agreement, unlocking a new phase of energy security and economic expansion on the back of gas monetization and cross-border collaboration.
Uganda signe avec l’Algérie, un mémorandum d’accord pour collaborer dans le secteur pétrogazier
Le protocole d’accord vise à évaluer conjointement les opportunités de coopération sur l’ensemble de la chaîne de valeur du pétrole et du gaz.
[Nigeria Business Week] Andrea Ayemoba: Investors bet on fintechs, startups
The past couple of weeks have seen a flurry of activities in several sectors of the Nigerian economy. Startups are receiving increasing financial backing from VCs for the growith of SMEs.
[Nigeria Business Week] Andrea Ayemoba: 2022 statistics outline Nigeria's economic status quo
Despite all the setbacks plaguing economies the world over, Nigeria’s GDP for 2022 is projected to be north of $500billion, the largest in Africa. All eyes are now turned to what these next 12 months could bring Africa’s largest economy.
[Column] Givemore T. Chiwanza: How has the Russia-Ukraine crisis affected Africa?
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.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
[Nigeria Business Week] Andrea Ayemoba: Nigeria battles odds to maintain productive economy
According to the International Monetary Fund, Nigeria is being pushed to the brink by inflation. Banks however, one of the pillars of the economy, have remained in good standing.
[Nigeria Business Week] Andrea Ayemoba: Gas price triggers ripple effect across industries
Nigeria’s inflation as of the month of May stood at 17.71%, but economists are now predicting just a month later a new figure we can expect at the end of this year.
[Nigeria Business Week] Andrea Ayemoba: Nigeria scores big in budget transparency
The infrastructure of Nigeria is such that for meaningful progress to be made, there must be give-and-take on the parts of the government and the people.
[Nigeria Business Week] Andrea Ayemoba: Government, Industries move to expand women enterprise
With plunging profits in its prized sector, oil and gas, and an ever-climbing inflation, Nigeria is increasingly turning to what most of the world has been blind to – the potential of women in business.
[Nigeria Business Week] Andrea Ayemoba: Banks move into East Africa, telecom pushes NSE profit
The telecom industry this week recorded a peculiar development – the massive registration of Nigerian SIM card holders.
[East Africa Business Week] Bob Koigi: West meets East
West African companies have particularly been keen to expand their operations in the East African region. This has been through mergers, partnerships or takeovers.
[Nigeria Business Week] Andrea Ayemoba: Banks rally behind women-led SMEs
The NNPC has an approximated value of 50 trillion naira. With oil and gas infrastructure in Nigeria constantly plagued by mischief and vandalism, an ECOWAS expert has profferred a very interesting solution to this persisting problem
[Nigeria Business Week] Andrea Ayemoba: Clean energy gets funding amid inflation and trade deficits
Oil and Gas has been a pillar supporting the Nigerian economy for a very long time. Rich in this natural resource, Nigeria may be guilty of neglecting other promising sectors, like Agriculture and even Insurance.
[Nigeria Business Week] Andrea Ayemoba: Digitization set to penetrate capital market, investment
Given the economic situation spreading across the globe in the last couple of years, it is with some optimism we can take the modest increase in Nigeria’s GDP.
[Nigeria Business Week] Andrea Ayemoba: An economic overview for Q1
As we have seen over time, when one sectors hits a low point, another is seen hitting high notes. Such is the situation as we’ve seen it lately.
[Nigeria Business Week] Andrea Ayemoba: FG targets unidentified sim cards, CBN targets non-compliant banks
Events this week have taken an interesting turn – investors have in the last few days demonstrated a lack of confidence in the banking sector, otherwise known for its resilience in the face of economic instability.
[Nigeria Business Week] Andrea Ayemoba: Telcos break new ground, digital loans gain momentum
Instant loans, sometimes called digital loans, are gaining speed in the country and the telecom sector took some giant steps forward this week.
[Nigeria Business Week] Andrea Ayemoba: Government, experts look to non-oil exports for economic recovery
The math is really simple – a rise in fuel prices leads to a rise in price in everything on the market because it costs more to transport it.
[Nigeria Business Week] Andrea Ayemoba: A call for exports diversification for higher market gains
Agriculturists and entrepreneurs are working harder than ever to address food sufficiency, but energy rests firmly on the government’s shoulders.
[Nigeria Business Week] Andrea Ayemoba: State to digitize tourism, FG takes on efficient mobility
Banking is one of the most thriving sectors in Nigeria. The reason for this success has been attributed to the efficiency with which this industry has leveraged technology to modernize its operations.
[Nigeria Business Week] Andrea Ayemoba: Economic conditions returning to pre-pandemic levels
The startup movement has picked up pace in Nigeria over the last decade, with the government and responsible agencies ramping up efforts in motivating the burgeoning industry.
[Nigeria Business Week] Andrea Ayemoba: Government, Central Bank turn focus to the startup movement
There’s an ongoing comparison in Nigeria's status quo that is causing some rift – the national statistics and reports are showing a promising and stable economy, but the situation on-ground reflects a different reality.
[East Africa Business Week] Bob Koigi: Heightened oil and gas activities inspire more investments
As the East African nations continue to make oil and gas discoveries, investors and multinationals are pitching tent in the region on an exploration binge with governments betting on the newfound resources to grow national and regional economies.
[Nigeria Business Week] Andrea Ayemoba: 5G becomes national security policy, industries seek sustainability in technology
The one thing the current global pandemic has unilaterally effected in all nations is a rearrangement of priorities, both for people and for governments. Survival elements – food and healthcare – have taken lead position.
[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G
Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent.
[Nigeria Business Week] Andrea Ayemoba: Industries unanimously look toward renewable, sustainable practices
The Covid-19 crisis has been cause for numerous economic slumps round the world; companies were shut down, production halted, industries crippled and prices skyrocketed the world over.
[Nigeria Business Week] Andrea Ayemoba: A 5G promise looms, global trade predictions show winning numbers
Nigeria’s tactic is one of sharpening the sectors that have shown promise (such as technology, agriculture and banking) while throwing resources at those that have been in a work-in-progress mode for years.
[Nigeria Business Week] Andrea Ayemoba: Nigeria enters green market, takes on AfCFTA implementation
The collaboration of government with industries is crucial for economic progress, be the market large or small. Nigeria knows this and is taking steps to work closely and create better transparency in one of the country’s most robust industries.
[Column] Grace Goodrich: Driving deal making in Mozambique post-COVID-19
While overall transactions dropped by eight percent in sub-Saharan Africa in 2020, in Mozambique, the number of transactions rose, with 12 deals reported compared to only four deals in 2019, according to a Baker McKenzie analysis.
[Column] Neil Ford: South Sudan government bets on marketing to bolster oil reforms
The government of South Sudan is seeking to greatly change the way it markets its oil in order to boost revenues and make the process more transparent.
Mauritius oil spill puts spotlight on ship pollution
Often close to world shipping lanes, small island and coastal nations are at particular risk from oil spills.
[Column] C. Derek Campbell: Stakeholders engagement and security will be key to ensure success of Mozambique’s LNG projects
The scale and enormous economic potential of Mozambique’s LNG projects constitutes a seminal effort with national, regional and global implications and visibility.
[Column] Leoncio Amada: Economic recovery must go through a reform of forex regulations in Central Africa
The health and economic crisis caused by the Covid-19 pandemic is devastating the productive, economic and financial systems throughout the entire planet.
Protecting trade in Nigeria, how DFIs are responding to COVID-19
With the COVID-19 pandemic continuing to devastate economies around the world, Africa is set to experience its first recession since the 1990s, threatening to undo two decades of growth and development.
[Column] NJ Ayuk: African lives matter, too; Energy Policy decisions should consider their needs
As African oil and gas countries struggle with Covid-19’s devastating impact on demand, two international groups seem to be celebrating it.
Industry downturn in Angola presents opportunities for local content and marginal players
With an economic recession expected at -1.4 per cent by IMF this year, Angola is expected to be less hit than its immediate neighbours or than the rest of African oil-producing countries.
[Column] NJ Ayuk: How Africa can make a comeback from the oil and gas downturn
Stunning drops in crude oil prices—the result of COVID-19-related declines in demand and an oil price war between Saudi Arabia and Russia—have been taking their toll around the globe this spring.
East Africa’s oil industry: A new story in the making
The recent acquisition by Total of Tullow Oil's entire interests in the Lake Albert Development Project in Uganda marks the beginning of a new chapter for East Africa's energy industry.
Most commodity prices to drop in 2020 as COVID-19 depresses demand, disrupts supply, World Bank
The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said in its April Commodity Markets Outlook.
Should Africa consider the nuclear energy route?
Despite its advancements over the years particularly in the oil, gas and power industries, it is no secret that Africa is still plagued with the very real issue of inefficient energy supply.
COVID-19 affirms urgency for trade facilitation reforms in Angola, UNCTAD
The coronavirus (COVID-19) pandemic’s blow to global oil prices has re-emphasized the need for Angola to wean its economy off volatile fuel exports.
[Column] Bob Koigi: Of coronavirus crisis and the silver lining for Africa
As economies take a hit from the impacts of the Coronavirus pandemic, the crisis is birthing opportunities and continues to create crucial lessons on resilience and adaptation especially in Africa.
[Column] NJ Ayuk: The Mozambique gas promise and why it epitomizes the African dream
It has been almost exactly ten years since Anadarko drilled the well that would give Mozambique its first major gas find in over sixty years of mostly disappointing oil and gas exploration.
[Column] NJ Ayuk: Opportunities for African oil producers post OPEC+
Sometimes it is easy to forget how interconnected human lives across the globe have become.
Offshore Network publishes Nigeria Well Intervention Forecast
See how to position yourself to take advantage of an uplift in activity as the Nigerian government puts well intervention at the forefront of production plans
[Column] NJ Ayuk: We must not jeopardize Africa’s future in the name of fighting climate change
Pressure is building to phase out fossil fuels in Africa to fight climate change.
[Column] NJ Ayuk: What Africa’s Future Liquefied Natural Gas producers can learn from Qatar
As I got into the process of writing my recent book Billions At Play, The future of African Energy and doing deal, the story of Qatar intrigued me.
[Column] Boris Ivanov: How global energy dynamics are shaping the outlook for African exploration
Africa is a continent rich in energy resources, but poor in supply. For most Africans energy is either unaffordable, unreliable or inaccessible.
[Column] NJ Ayuk: Between extortion and the sanctity of Petroleum contracts in Nigeria, DRC and Senegal
Last week, a UK commercial court gave reason to a claim by engineering company P&ID, which demands over USD$9 billion from the Nigerian government over a failed gas deal.
[Column] Olagoke Aluko: Liquefied Petroleum Gas (LPG) regulations lead the way in reshaping consumer behaviour and industry in Kenya
Kenya has paid a heavy price in lives lost for its slow uptake of LPG as a cooking fuel.
[Column] Mickael Vogel: Why Benin is the capital of the West Africa gas and power
With a population of less than 12 million and a GDP of $10.35bn in 2018, Benin is often overshadowed by its massive neighbour, Nigeria.
[Interview] Faridah Afadameh, CEO, Ashfar Group, Ghana
Faridah Afadameh is CEO of Ashfar Group, a pan African business enterprise with footprints in West Africa, East Africa and Southern Africa.
[Column] Zwelakhe Gila: Great, South Africa found gas. Now what?
Coming at a time when South Africa’s policy makers are struggling to diversify the country’s energy mix, Total Exploration and Production Southern Africa recently announced a major offshore gas discovery.
Ten developments that will shape Africa’s energy sector in 2019
After a year of rebound and recovery, Africa’s old and new hydrocarbons markets have an opportunity to further entrench the continent’s position as the world’s hottest oil and gas frontier in 2019.
[Interview] Tunde Ajala, Executive Director, Dovewell Oilfield Services, Nigeria
Tunde Ajala is the founding executive director of Dovewell Oilfield Services Ltd, a Nigeria oil and gas company.
[Nigeria Business Week] Industries partner to reach common goals
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.
[Nigeria Business Week] Towards sensible investments, capital pours in from the outside
For a country as populous as Nigeria, the wheels can and should not stop rotating. Supply rarely ever exceeds demand, investors are always welcome and jobs are never surplus.
[Nigeria Business Week] Calling for free-trade, efficient energy
The possibility of free trade within Africa is an ongoing one, to which several African countries have pledged their support and signed their agreements. Though Nigeria has shown caution in joining The Agreement, its one champion is Aliko Dangote, Nigerian industrialist and wealthiest African.
[Column] Five roots to Central Africa’s industrialization
Four years after the oil boom ended and Central African countries faced a sudden reverse in their fortunes from the strong growth of the early 2000’s.
[Interview] Joe Gakuo, CEO, Oleum Holdings, Kenya
Mr. Joe Watson Gakuo is the Chief Executive Officer of Oleum Holdings Limited, and the founder of Upstream Awards.
[Nigeria Business Week] Forging bonds at new levels, China bets higher
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
Angola: The road to economic reform
The dramatic drop in oil prices that started in mid-2014 substantially reduced tax revenues and exports, with growth coming to a halt and inflation accelerating sharply.
[Nigeria Business Week] Industries' growth encourage investments
At first glance, one cannot help but notice that Nigeria is prime ground for investment. Any doubts as to that fact are dissolved when you examine the sheer number of startups being funded, especially in the ICT sector.
Africa Oil & Gas Industry Professionals wanted for the Africa Business Panel
Oil & Gas are back and that means that also market research in oil & gas are back
[Nigeria Business Week] Nigeria, one economic sector after another, exits recession
The Nigerian oil and gas scene remains as active as ever, with changes surfacing on an almost daily basis. Last week saw the country’s first Marine Engineering Center commence its programs of 18 month academic and field work, which will lead to a masters in Marine Engineering.
[Column] NJ Ayuk: Congo and OPEC - A marriage of mutual need
The Republic of the Congo has suffered dearly during the oil collapse; and Congolese President Denis Nguesso has pledged that the country would no longer be sitting on the side lines, suffering the effects of global decision-making in the oil industry without a voice.
Nigerian Well Intervention Highlighted at OWI WCA | Accra, March 7-8
As the largest producer in West Africa, Nigeria is quickly becoming a hotspot for well intervention activity
Sonangol Interview Discusses Enhanced Production in Angola
With production decline a common challenge to offshore production in mature fields globally, operators in West Africa are taking advantage of innovative technical developments
UAE-Africa partnerships to be solidified at Invest in African Energy Dubai Edition
The Dubai leg of the Invest in African Energy roadshow offers UAE investors the chance to connect with African opportunities, while African executives the chance to connect to international financial markets with Dubai as a trade center.
[Column] NJ Ayuk: Africa must embrace carbon trading
One of the most promising outcomes of the COP27 climate conference last November was the launch of the African Carbon Markets Initiative (ACMI). This African-led initiative is designed to significantly drive up the continent’s participation in voluntary carbon markets.
[Nigeria] NCDMB, BOI launch $50 million fund for oil industry manufacturing
The Nigerian Content Development and Monitoring Board (NCDMB) and Bank of Industry have launched a $50 million dollars fund for NOGAPS Manufacturing Product Line.
Nigeria, Senegal ink deal to boost local oil and gas industry
The Nigerian Content Development and Monitoring Board (NCDMB) and Senegal’s Technical Secretary of the National Content Monitoring Committee of Senegal (ST-CNSCL), signed a new MoU to boost cooperation between the two countries regarding oil and gas industry growth.
[Column] NJ Ayuk: Carbon capture, utilization and storage: Game-changing technology for Africa
It would be difficult to exaggerate the value that carbon capture, utilization, and storage (CCUS) technology offers Africa’s oil and gas industry.
Parenco to end energy poverty in Africa by 2030
Independent oil and gas company, Perenco, has undertaken an ambitious gas agenda in Africa, an agenda which is set to help make energy poverty history by 2030.
400 millions d'euros du ITFC pour soutenir des secteurs clés au Sénégal
ITFC (Société Islamique Internationale de Financement du Commerce) signe un plan annuel 2023 de 400 millions d'euros avec la République du Sénégal et le Programme National des Passerelles Commerciales de l'Afrique Arabe pour soutenir les secteurs clés.
COLUMNS.
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[Column] Sinenhlanhla Zulu: Gender-smart infrastructure must be delivered at scale
Africa’s development finance community has set its sights on plugging the annual infrastructure investment gap ...read full column here
[Column] Pankaj Bedi: High production costs hurting Kenya’s apparel exports
The textiles and apparel sector is the third largest exporter in Kenya after horticulture and tea ...read full column here
[Column] NJ Ayuk: The outlook for African oil in 2023 is promising
Russian energy supplies to Europe continue to decline in the wake of the Ukraine war, Africa is poised to increase its oil and natural gas exports to the continent ...read full column here
INTERVIEWS.
[Interview] Anne-Marie Chidzero, Chief Investment Officer at FSD Africa Investments
Anne-Marie Chidzero, chief investment officer at FSD Africa Investments, talks about the risks and opportunities in backing Africa’s early-stage startups … read full interview here
[Interview] Awe Oludayo, Managing Partner, OS Concepts, Nigeria
Awe Oludayo is a business analyst with specialties in business process improvement, business process improvement and business process management … read full interview here
[Interview] Dr. Allan Pamba, Executive Vice President, Africa, Roche Diagnostics
Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives … read full interview here
B2B Events
INC. Networking Event | Johannesburg South Africa | 13 June 2023
Are you looking to meet like-minded business people who can add value to your business? Look no further and join this INC. Networking Event! The big difference between INC. Networking and ... read full details here
The Africa Trade Expo (TATE) | Virtual Conference and Trade Show | 9 March 2022 - 9 March 2023
The Africa Trade Expo (TATE) presents direct access to African buyers whose main aim is to source the latest products, establish partnerships, and conclude import/export deals ... read full details here
Future Foods | African Food & Beverage Industries Virtual Conference & Trade Show | 9 March 2022 - 9 March 2023
Future Foods is a virtual meeting place for importers, F&B managers, retail category buyers, owner-operators, agents, and distributors from across Africa’s diverse and booming ... read full details here