Browsing: Africa Oil and Gas

Africa seizing opportunities in the Russia-Ukraine war.

The crisis has thrown the energy market into chaos, sending fossil fuel prices soaring. This has birthed the global demand for thermal coal, especially from the Asian and European markets; with most countries in both regions having been dependent of Russia, as the country is the world’s third largest supplier of thermal coal used chiefly for power generation. Coal plants that had been scheduled for closure in Europe have been reopened, to fill the deficit in mitigating fuel costs and generating electricity; as the alternative gas, is inarguably more expensive. With energy security under threat, climate policies and commitments have taken a back seat. The EU recently declared that natural gas now qualifies for green investments.

The African coal market is projected to enjoy double its revenue for the next one year. The prevailing energy gap has created a window of opportunity for African coal producing nations. According to a…

Only last December, the OPEC (and partners) coalition agreed to chop oil output by 1.7 million bpd, and in turn, Saudi Arabia agreed to cut its output by 400,000 bpd. However, Moscow is now backing away from more cuts in production because reducing production would give breathing room to the already suffering US producers. 

The US remains unmoved. It refuses to lower output despite the falling oil prices that have seen Washington suffer a minus US$4 in oil futures. Meanwhile, the Kremlin’s response has been to flood the market with even more oil output to push prices down.

While US oil producers have previously proved to be rather resilient to low prices, managing to counterbalance prices as low as US$30 per barrel in the past (see details below), they may not fare so well this time around. 

The shale producers were already suffering over the last year as Moscow waged …

The findings are quite encouraging for Sonatrach and Algeria, both of which have not seen major increases in their hydrocarbon reserves since the middle of the 2000s.

Since the beginning of the year, Algeria has experienced an increase in the amount of oil and gas being exported via pipeline and sea; Algeria has provided Italy with 13.9 billion cubic metres, which is more than 113 per cent of the amounts that were originally expected.

More recently, Occidental (US), Total Energies (France), and Eni (Italy) came to an agreement worth US$4 billion to develop a site located in the Berkine perimeter and generate 1 billion barrels of oil equivalent. The transaction was signed by all three companies.

Sonatrach and other international oil firms can now enter into production-sharing agreements according to a hydrocarbon law passed in 2019, despite the fact that the legislation sparked some street protests. However, it established a …

  • AOW 2021 included comprehensive discussions about the future of the continent both in terms of achieving the green agenda and zero-emission targets
  • With the UAE’s investments in Africa reaching $5.64 billion in recent years, AOW will serve as a platform to fuel future collaborations and partnerships that can result in additional high-value deals in the energy sector.
  • Moving on pace with its diversity and inclusion agenda, the AOW initiated the AOW Accelerates: Diversity & Inclusion programme, which champions greater diversity, equity and gender parity across the industry.

November 11, 2021, marked the final sessions of the most prestigious upstream conference which run for four days from the 8th of November.

The Africa Oil Week held at the Madinat Jumeirah in Dubai, saw stakeholders and leading Oil countries across the continent partake at this prestigious event which ended with high-value deals, and strong intent for future investments in the continent.

This …

  • Senegal´s gas discoveries have generated a great deal of hope among the country’s young population about future opportunities in the energy sector.
  • The Greater Tortue Ahmeyim (GTA) LNG is the largest gas project currently underway in Senegal
  • In the near future, Senegal will no longer be hampered by what had been up to now some of the highest energy costs in West Africa.

Senegal continues to grow its Oil and Gas industry since its first discoveries between 2014 and 2017 with so far, Gas and Oil reserves worth more than 1 billion barrels of oil and more than 40,000 billion cubic feet of gas having been unlocked in Senegal. The West African country is on the road to guaranteeing its citizens of energy security.

Natural Gas Projects

One of the single largest gas projects currently underway in Senegal is the Greater Tortue Ahmeyim (GTA) LNG gas project, located in offshore …

With a favorable geographical position on the westernmost point of Africa, an abundance of natural resources, and strong political leadership and stability, Senegal is set to transform its economy through the development of its energy sector. The country is endowed with vast natural resources, including significant natural gas reserves and renewable energy sources, and has committed to the diversification of its energy mix to meet rising energy and electricity demand.  With a clear presidential vision in which the energy sector is seen as a key driver of economic growth, H.E. President Macky Sall is pursuing increased investment in Senegal’s growing energy industry. Through the promotion of an attractive business environment, the implementation of industry supportive regulation, and an integrated sectoral approach, H.E. President Sall is transforming the country into an energy hub.

Also Read: 8th Angel Fair Africa to be held in Senegal

Senegal boasts immense oil and gas discoveries …

Africa Oil & Power (AOP) launches Renewables, African LNG and Energy Finance Event at Africa Oil & Power 2020 in Cape Town, South Africa.

It is the first time AOP is hosting the forum which is in line with the vision of South Africa’s Department of Mineral Resources and Energy, the government and private sector partners from all four corners of Africa.

The Africa Oil & Power forum 2020 will host presidents, ministers, utility and national oil company heads and renewables executives. The event will majorly focus on the driving factors behind energy transition.

The theme of the conference which marks the entrance of the African Continental Free Trade Area is ‘Invest Without Boundaries’. The Africa Oil & Power is the only conference on the continent that fully unites power and petroleum

Also Read: Uganda oil refinery gets funding from Africa Finance Corporation

“AOP 2020 is the meeting place for …

Civil societies in Kenya exploring underlying social and economical issues affecting Oil and Gas benefits in Kenya

Civil societies in Kenya have called for greater scrutiny of Kenya’s oil and gas industry to ensure there is maximum benefit both for the country as well as for the society. The issues raised during a media round-table in Nairobi included compensation, use of oil revenues and infrastructural development.

There is evidence of roughly 600 million barrels of oil in the two “blocks” of oil reserves currently being tapped in Turkana by a group of partners led by London-based Tullow Oil. But initially, production will be very limited pending construction of an 821-kilometer oil pipeline to a seaport in Lamu, Kenya, which is forecast to be completed by 2022.

However, Kenya Oil and Gas working group is calling for audit of the contracts of oil mining to ensure they follow international standards.

According …