Browsing: African Energy Chamber

• Ghana has over 17 oil and gas projects that are in the pipeline for investments in the next three years.
• Some of the main projects are the Jubilee South East Project, which is under development by British oil and gas explorer Tullow Oil.
• The country is spearheading plans to attract new investments for renewable energy projects as it steps up the share of renewables to 10% by 2030.

Ghana’s oil and gas sector boasts of over 600 million barrels of proven reserves, and is fast positioning itself as a magnet for foreign investors seeking to tap into its energy industry.

The country’s energy wealth, which also includes 0.8 trillion cubic feet of gas, is equally unveiling a myriad of lucrative investment opportunities in renewable energy that foreign investors can tap into as well.

Proceeds from these investments would play a critical role in propelling the country to achieve its goal …

• President Hage Geingob was truly an African giant, but one whom far too many people didn’t know about.
• Namibia has President Geingob to thank for its rapidly developing green hydrogen sector, which will lead to even more jobs, business opportunities, and access to electricity for Namibians.
• The late Geingob’s visionary leadership, integrity, and his wise approach to building Namibia’s hydrocarbon and renewable energy sectors was outstanding.

On Monday morning, February 4, many of us woke to the news of the tragic passing of Namibian President Hage Geingob.

The death of this great man and remarkable leader is a tremendous lsac à dos eastpak jordan proto max 720 yeezy boost 350 v2 hyperspace yeezy shoes under 1000 inflatable kayak sit top kayak custom kings jersey nike air max 90 futura sac à dos eastpak deuce vaughn jersey nike air max 90 futura 8 ft kayak kansas city chiefs crocs nike …

• One of Africa’s biggest pipeline is the 4,100Km Trans-Sahara Gas Pipeline connecting Nigeria and Algeria oil fields.
• At 1,443Km East African Crude Oil Pipeline will connect Uganda’s oil fields to Tanzania’s coast.
• Cutting across seven countries, the Central African Pipeline System will include refineries, gas-to-power plants, and LNG terminals.

As oil and gas industries continue to grow in Africa, the construction of regional, intra-African pipelines has a huge part to play in distributing these hydrocarbons across the continent, allowing Africa to reap the benefits of its energy resources.

These benefits included improved access, availability, and affordability of energy as well as energy security. It also contributes to added revenue to the participating countries and the skills development of local companies and individuals.

Africa, a continent teeming with untapped energy potential, has long been grappling with the challenge of delivering its vast oil and gas resources to its energy-hungry populations.

With …

• South Africa has adopted a number of measures aimed at boosting the country’s critical mineral industry.
• In January 2023, mining production experienced its twelfth consecutive month-to-month decline, recording a decrease of 1.9 per cent.
• According to the Minister of Mineral Resources and Energy Gwede Mantashe, the industry needs to advance a commitment to working together as stakeholders on the reconstruction and recovery of the mining industry. 

  South Africa’s vast reserves of critical minerals present a huge opportunity for the country to accelerate economic growth and boost employment creation, while ensuring the energy transition is just and inclusive.

  Statistics South Africa recently released its key findings for the fourth quarter of 2022, wherein the real Gross Domestic Product (GDP) decreased by 1.3 per cent. According to the report, the mining and quarrying industry decreased by 3.2 per cent and thus contributed -0.1 per cent to the GDP growth.

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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 …

• The western countries have halted overseas fossil fuel financing, a decision that has raised the alarm among Africa’s largest exporters of hydrocarbons
• A BP Statistical Review of World Energy 2021 reveals that oil and gas produced about 48 per cent of Africa’s total electric power generation in 2020
• At the COP26 climate summit held in Glasgow, the United Kingdom, in November, several countries agreed to stop the direct public financing for overseas fossil fuel development and extraction by the end of this year

The western countries have halted overseas fossil fuel financing, a decision that has raised the alarm among Africa’s largest exporters of hydrocarbons, who sees the creation of an African Energy Bank as a way out to fund fossil fuels in Africa.

To prevent catastrophic climate change, environmental and financial organisations and governments across Europe and America have insisted that developing nations in Africa must immediately transition from …

Africa trade and investment cooperation,

To drive Africa’s development, available workforce, access to markets and transport, investment and business climate, energy and technological infrastructure have been cited as key factors set to boost the continent.

Africa trade and investment cooperation,

This statement was said by Günter Nooke, the Africa Envoy to German Chancellor Angela Merkel during the “Investment and Trade for Africa’s Economic Development” public webinar co-hosted by the Germany-Africa Business Forum (GABF), Africa Oil & Power and the African Energy Chamber.

The German-African cooperation-focused webinar aims to show opportunities for sustainable Foreign Direct Investment (FDI) between Germany and Africa.

Also Read: Uganda’s trade deficit and exports in 2020

It is the second instalment of the German-African cooperation-focused webinar series which are under the theme of investment and trade for African economic development.

The panel comprised of NJ Ayuk, Executive Chairman of the African Energy Chamber, and Rene Awambeng, …

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 …