Trending
- The most stressful cities to live in 2024 exposed
- Tech ventures can now apply for the Africa Tech Summit London Investment Showcase
- State of journalism survey 2024 shows media houses are lagging in AI adoption
- Forum sets the stage to unleash global potential for startups during AIM Congress 2024
- Consumer Expenditure in Kenya on a Six-Month High
- Kenya Ports Authority Invests $31 Million in State-of-the-Art Cranes for Lamu Port
- Fintechs should develop products that address the exact needs of their customers
- New report exposes alarming rise in remote desktop protocol fraud by cybercriminals
Browsing: Chevron
- The signing authorizes the ownership of the Common Interest Zone, with Angola and the DRC each holding a 30% stake. Global energy major Chevron, the block operator, will take a 40% share.
- The Angola-DRC deal sets terms and general principles for exploration, production sharing, and ownership of the highly promising offshore Common Interest Zone.
- For Angola, sharing knowledge and expertise with the DRC will not only strengthen their bilateral relations but also power overall growth and stability of the region.
In an historic agreement, Angola and DRC are teaming up for the development of Chevron-owned oil block that will see the exploration, and production of hydrocarbons in the Common Interest Zone located on their maritime border.
The signing ceremony took place on Thursday, July 13th, in Kinshasa, with Angola’s Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, and the Democratic Republic of Congo’s Minister of Hydrocarbons, Didier Ntubanga, formalizing
- The Republic of Congo Energies forum will be part of this year’s African Energy Week (AEW) expo.
- The conference and exhibition are scheduled for October 16-20, 2023 in Cape Town.
- Forum will facilitate new oil and renewable energy investment deals for the country.
Invest in the Republic of Congo Energies forum will be a part of this year’s African Energy Week (AEW) conference. Recognized as Africa’s foremost energy event, AEW will take place in Cape Town from October 16 to 20, this year.
Under the theme of ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets’, the Invest in the Republic of Congo Energies country spotlight will bring together energy policymakers and companies from the central African country with global investors. The forum aims to address pressing industry challenges while showcasing and optimizing energy transition opportunities.
Unlocking the country’s potential
The Republic of Congo is …
- Angola’s oil and gas sector has been placed at the forefront of African energy investment.
- Angola has regulatory reforms, infrastructure development, and exploration strategies in place.
- Natural gas will play a crucial role in the global effort to reduce carbon emissions. Angola has 13.5 trillion cubic of natural gas.
Over the past 30 years, massive Angolan oil and gas reserves have steadily positioned the southern African country as a top destination for investors. Strong returns on investment from Angolan oil and gas are now attracting even more global market players. The country’s oil-rich acreage is paying great dividends.
Angolan oil and gas current production
The nation is currently ranked as the top oil producer in sub-Saharan Africa. Angola boasts of having confirmed reserves of 11 trillion cubic feet of natural gas and nine billion barrels of oil. The majority of these reserves are found in offshore fields, especially in the …
- During the last three decades, Angola has established itself as a top-tier destination for big oil and gas companies.
- Natural gas is an essential intermediary in the energy transition, generating fewer emissions than petroleum and coal products.
- Angola’s regulator, the ANPG, aims to attract investment from sources other than the country’s traditional oil and gas producers.
While foreign oil firms steadily abandon African hydrocarbon resources and transfer capital spending to alternate energy sources, Africa is experiencing output reductions across significant assets. The fall in oil and gas output is primarily because Integrated Oil Companies (IOCs) are affected by lobbies urging them to withdraw from fossil fuels and invest in renewables.
Understanding the Decline in fossil fuel funding
Since loans are becoming more costly, it is becoming more difficult to borrow funds for investment in exploration, development, and production (E&P). Some financial firms are beginning to limit capital accessible for these …