Browsing: AEC

• Behind every discovery in the African energy industry, final investment decision (FID), and first oil announcement in our continent are companies of all sizes.
• Collectively, these companies are validating the long-held assertion by the Africa Energy Chamber (AEC) that the African continent represents the next frontier for energy exploration and production.
• Where international corporate divestment from Africa’s oil industry is occurring, smaller players are taking up the slack.

Behind every discovery, final investment decision (FID), and first oil announcement in our continent are companies of all sizes, advancing our energy industry and bringing Africans closer to realizing the energy security and prosperity their petroleum resources represent.

Collectively, these companies are validating the long-held assertion by the Africa Energy Chamber (AEC) that the African continent represents the next frontier for energy exploration and production.

Despite concerns over corporate divestment from the African oil and gas sector in recent years — moves …

For practical reasons, European gas buyers need to find a way to make up for the supplies missing from Russia. And for both policy and practical reasons, Brussels wants to deny Moscow the opportunity to continue using gas supplies as a blunt instrument with which to threaten Europe in the future.

The change isn’t going to be immediate. Reducing Russia’s profile in the EU’s energy mix will take time. But the process of supply reduction is underway, and it has already opened up new opportunities for African gas producers to acquire market share in Europe. I expect those opportunities to last beyond the near term as the EU attempts to establish a new combination of gas suppliers to replace Russia over the next few years. 

I also hope Africa’s emerging gas producers take advantage of new LNG technologies, such as the modular Fast LNG solutions offered by New Fortress Energy …

Mozambique has already set an example of sound policy and governance…

Oil prices have plummeted heralding a tough time ahead- at least in the foreseeable near future- for oil exporters in Africa.

The chaos started when Saudi Arabia and Russia disagreed over production cuts leading to the oil price war which has led to the huge oil price drops the last of which were witnessed the 1991 Gulf War.

This tiff came after Russia refused to cut production as requested by the Organisation of the Petroleum Exporting Countries (OPEC) due to the reduced oil demand occasioned by the Covid-19 coronavirus pandemic. With Saudi Arabia retaliating, the world is now experiencing the biggest drop in oil prices to around $30 per barrel.

Africa’s most affected sectors, hope for survival

While this is happening miles away from Africa, oil exporters on the continent have not been spared. Nigeria and Angola are particularly affected with their economies registering the negative effects of the slump …