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[Column] NJ Ayuk: More progress needed in African gas exploration and development
African gas consumption is slated to rise. Even as total production moves upward, commercial flows from the continent are likely to rise to about 27-28 bcf per day within the next few years and then remain at that level until the late 2030s.
Le projet LNG Marine XII trace la voie vers la sécurité energétique et le développement economique du Congo
Le projet LNG Marine XII, qui représente un investissement substantiel de près de 5 milliards de dollars, est une initiative pionnière pour la République du Congo.
The African Energy Chamber endorses Oando-Eni Deal
The African Energy Chamber (AEC) endorses the ground-breaking agreement between Oando PLC and Eni for the acquisition of 100% of the shares of Nigerian Agip Oil Company Limited (NAOC Ltd).
[Column] NJ Ayuk: African oil and gas exploration is going strong
Despite the call heard 'round the world commanding the global business community to divest from fossil fuels and shrink their carbon footprints in the name of net zero, international oil companies (IOCs) still recognize Africa as their next frontier.
Eni démarre la production du champ de Baleine en Côte d'Ivoire avec son partenaire PETROCI
Eni a commencé à produire du pétrole et du gaz dans le champ de Baleine, situé au large de la Côte d'Ivoire.
[Tanzania] Scirocco Energy sale to Ruvuma PSC has been extended
Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets announces an update regarding the Ruvuma transaction.
[Nigeria] NCDMB, BOI sign amendment of MoU on $50 million NOGaPS Manufacturing Fund
The Nigerian Content Development and Monitoring Board(NCDMB) and the Bank of Industry (BoI) have signed an amendment to the Memorandum of Understanding (MoU) on the $50million NOGaPS Manufacturing Fund.
[Nigeria] Dangote Refinery partners with XCMG Machinery to boost construction
Over the past few years, XCMG Machinery has participated in this mega refinery project with more than 2,000 units of equipment, including excavators, cranes, road rollers, and more, stationed in the construction and guaranteeing high-intensity, uninterrupted operation.
[Nigeria] NCDMB to launch 17 portfolio companies from Technology Incubation Centre
The launch of the new portfolio companies is a major milestone of the Board’s R&D strategy anchored on commercialization of research and innovation.
Uganda to build two nuclear power stations with Russia and South Korea
Russia and South Korea have embarked on a joint venture to construct two nuclear power facilities in Uganda with the capacity to produce a total of 15,600 MW of electricity.
Payoneer Singapore secures major payment license to help SMEs transact globally
Major Payment Institution license complements Payoneer’s suite of global licenses, enabling enhanced in-market product and service offerings.
AFC invests in Mahathi Infra to transform petroleum product transportation in Uganda
AFC’s US$95.25 million investment will finance the construction of two self-propelled barges for operation on Lake Victoria, providing a more efficient and less carbon intensive alternative to traditional trucking.
Le Sénégal recevra 50 millions EUR d’Africa Finance Corporation pour stimuler le secteur pétrolier et gazier
L’investissement d’AFC dans le champ pétrolier Sangomar sera utilisé pour soutenir la première phase du lancement de la production de pétrole, un jalon clé dans la promotion du secteur des hydrocarbures du pays
[Nigeria] NCDMB offers ‘first mover advantage’ for investors at oil parks
The first original equipment manufacturers (OEMs), service companies and other oil and gas firms that would set up operations in the Nigerian oil and gas parks would enjoy certain first mover privileges, the Nigerian Content Development and Monitoring Board (NCDMB) has assured.
[Column] NJ Ayuk: Nigeria must fully implement the petroleum industry Act
Nearly two years from its passage into law, implementation of the PIA and its initiatives has been slow for numerous reasons, but not without progress, and signals from Nigeria’s new administration indicate that these conditions will not remain the status quo.
Nigeria, Equatorial Guinea mull new opportunities in international oil sector
The Governments of Nigeria and the Republic of Equatorial Guinea have opened discussions regarding new partnership opportunities such as the establishment of a joint logistics base, deployment of indigenous capacities across countries, and lowering the costs of major oil and gas operations.
Gemcorp, Africa Finance Corporation and Afreximbank announce the financial close of Cabinda Oil Refinery
Gemcorp, Africa Finance Corporation and Afreximbank announce the financial close of Cabinda Oil Refinery with a US$335-million project financing facility.
SONATRACH – TotalEnergies en collaboration dans le domaine des hydrocarbures et des énergies renouvelables
SONATRACH et TotalEnergies Signature de plusieurs accords dans le domaine des hydrocarbures et des énergies renouvelables.
[Nigeria] NCDMB, NLNG launch local content opportunities on e-marketplace
The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria LNG Limited are collaborating to roll out tender opportunities from the gas production and processing company on the Oil and Gas E–Market Place.
[South Africa] Eco Atlantic Oil to sell partial stake of offshore asset to Africa Oil
Eco Atlantic Oil & Gas has agreed a deal to sell a partial stake (6.25%) in the Block 3B/4B asset offshore South Africa for US$10.5mln.
[Column] NJ Ayuk: The promise of Angola’s growing natural gas industry with a ready-made market
From exploration to production and export, the Angolan oil and natural gas industry is bustling with new initiatives. This past year alone, international oil companies and the Angolan government partnered to award numerous regional operators with service contracts.
Perenco started production at South Kole Project in Cameroon
Independent Anglo-French hydrocarbon producer Perenco has started production at the South Kole Marine oil project located 50km off the coast of Cameroon.
Nigeria earns $11b from oil exports in five months
Nigeria earned about $11 billion from crude oil exports in the first half of the year, with OPEC projecting earnings to increase to approximately $29 billion in the same period 2024.
[Column] Wayne Glossop: Gas power solutions for South Africa
While to date our society has been heavily reliant on coal, it's not able to keep pace with the energy and environmental aspirations of the nation currently.
[Column] NJ Ayuk: Natural gas represents tremendous opportunities for Africa — we must seize them now
For Africa to move forward and grow its natural gas output, a two-pronged approach is required: Gas producers must continue to pump from existing fields while countries with new discoveries must get these undeveloped projects to the final investment decision (FID) stage as quickly as possible.
Stanbic Bank to reinforce its role in East Africa's Oil and Gas sector
Stanbic Bank, a leading financial institution in South Sudan one of the silver sponsor of the sixth edition of the South Sudan Oil and Power (SSOP) 2023 conference and exhibition . Themed, "The Engine of East African Growth" SSOP 2023 reinforced its role in Oil and Gas Sector Develompement.
BW Offshore a conclu la cession du FPSO Espoir Ivoirien
BW Offshore a conclu la transaction de vente du FPSO Espoir Ivoirien à son client pour un montant total de 20 millions de dollars.
[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.
COLUMNS.
[Column] Ruth Njihia: Unleash your business potential with Google Cloud and Incentro Africa
In today's fast-paced world, data is the currency of success. Yet, many businesses across Africa face the daunting challenge of collecting, storing, analyzing, and visualizing their data effectively ...read full column here
[Column] Sandi de Souza: Why top-performing companies use AI to boost procurement
One Deloitte study found that high-performing procurement organisations are eighteen times more likely to have deployed AI capabilities than their lower-performing peers ...read full column here
[Column] Patrick Mweheire: Major investment drive sparks East African trade and development
East Africa is poised to unlock new pathways for trade, development and growth. This comes as businesses, regulators and banks find and drive new direct investment ...read full column here
INTERVIEWS.
[Interview] Vince Goncalves Regional Vice President Africa at ExecuJet MRO Services
ExecuJet MRO Services (ExecuJet) is a leading global multi-OEM MRO company with a strong presence around the world … read full interview here
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
n this interview, she discusses the outlook for the business environment, upcoming services, sustainability efforts, and more… read full interview here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose … read full interview here