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African Energy - Issue 384 - 17/01/2019

Libya’s NOC turns back the clock on crude marketing and refining

Adecision by National Oil Corporation (NOC) not to renew the three-year-old deal giving Glencore the exclusive right to lift crude from the Marsa Al-Harigah terminal outside Tobruk demonstrates how much the conditions under which Libya exports crude have changed in the past year. The hoped-for resumption of operations at the Ras Lanuf oil refinery in April – if it can be achieved – will change the picture further.

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African Energy - Issue 383 - 20/12/2018

Angola to raise power tariffs following IMF accord

Angola has published an action plan for the energy and water sectors covering the period 2018-2022. The plan aims to raise total installed capacity to 7.5GW in 2022 from 6.4GW in 2018 by expanding the role of gas and renewables, mainly solar. Tariff increases are planned in the new year in an attempt to eliminate subsidies for the power sector. Speaking at an investor roundtable in London on 14 December, energy minister João Baptista Borges said domestic tariffs would rise to around 10 kwanza ($0.03)/kWh from 3 kwanza/kWh at present. The International Monetary Fund (IMF) on 7 December approved an Extended Arrangement under the Extended Fund Facility aimed at supporting economic reforms under way since President João Lourenço took over from veteran leader José Eduardo dos Santos in September 2017.

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African Energy - Issue 382 - 06/12/2018

Revitalised Tullow squares up to Kenya development challenges

Tullow Oil says it has emerged from the industry downturn as a “balanced, self-funded E&P company” and plans to pay a dividend next year for the first time since 2014. The company is focused on reaching a final investment decision (FID) for the South Lokichar project in late 2019 with a target of first oil in 2022, but key elements remain to be finalised, including the ownership of the export pipeline element and a contract for the water needed for the production process.

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African Energy - Issue 381 - 22/11/2018

Long road ahead as Zimbabwe government puts its house in order

Zimbabwe’s government is piecing together a policy programme to stimulate investment into its moribund power sector. Recovering energy output is a central pillar of government efforts to revitalise the economy. But President Emmerson Mnangagwa’s administration faces an uphill battle and a critical few weeks, highlighted by a recent visit from the International Monetary Fund (IMF) ahead of delivery of the budget on 22 November.

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African Energy - Issue 380 - 08/11/2018

Ethiopia turns to PPPs for ambitious power expansion

Ethiopia’s plans to attract more foreign capital into its power industry took a step forward in late October as the government announced 14 projects that it wants to build and run as public-private partnerships (PPPs). The plan to attract private finance for the planned hydropower and solar schemes is a departure for a government that has borrowed heavily over the last decade from Chinese banks and elsewhere to construct large-scale dams such as Gibe III and the Grand Ethiopian Renaissance Dam (Gerd), as well as for major transmission projects.

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African Energy - Issue 379 - 25/10/2018

Ghana seeks to boost pace of exploration with first bid round

Ghana launched its first upstream oil licensing round on 15 October, offering six offshore blocks with the aim of bringing fresh exploration and development impetus to West Africa’s newest oil exporter. At a time of rising crude prices and ongoing uncertainty over the direction of new petroleum policy in regional oil superpower Nigeria, the round’s timing could not have been better, but rather than the usual upbeat bid round launch message stressing Ghana’s upstream potential and generous fiscal terms, President Nana Akufo-Addo used the launch event to warn existing licenceholders that they needed to step up the pace of exploration.

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African Energy - Issue 378 - 11/10/2018

BP sells half-share of Libyan assets to Eni, raising prospect of exploration revival

On 8 October in London, BP group chief executive Bob Dudley, Eni chief executive Claudio Descalzi and National Oil Corporation (NOC) chairman Mustafa Sanalla signed a letter of intent paving the way for Eni’s purchase of a 42.5% interest in BP’s exploration and production-sharing agreement (EPSA).

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African Energy - Issue 377 - 27/09/2018

Eskom faces coal supply crunch as Gupta empire winds down

One unexpected impact of moves in South Africa to dismantle the business empire of the powerful Gupta brothers has been a sharp decline in coal stocks previously supplied by Tegeta Exploration and Resources. Supplies to power stations have reached critical levels in some cases, raising fears of renewed load-shedding.

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African Energy - Issue 376 - 13/09/2018

Equatorial Guinea lining up strategic partner for Gas Megahub

Equatorial Guinea’s Ministry of Mines and Hydrocarbons plans to announce the appointment of a strategic partner for its Gas Megahub project by October. Mines and hydrocarbons minister Gabriel Mbaga Obiang Lima told African Energy that the strategic partner would start work on the project by year-end or early in 2019. He said the ministry had been working with Marathon Oil Corporation and Noble Energy on arrangements to backfill gas for the EGLNG liquefied natural gas plant as the first phase of the project to replace declining production from the Alba field (AE 369/1).

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African Energy - Issue 375 - 30/08/2018

Ethiopia’s Grand Renaissance Dam: from national treasure to political football

In his first news conference on 25 August, Prime Minister Abiy Ahmed confirmed significant problems with the 6.45GW Grand Ethiopian Renaissance Dam (Gerd) on the Blue Nile River. But rather than address the lengthy ongoing spat with Cairo over the $4bn project, or chief engineer Semegnew Bekele’s death in central Addis Ababa in a mysterious 26 July shooting, Abiy’s comments shed more light on a distinctly domestic dispute.

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African Energy Gulf States Newsletter