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African Energy - Issue 365 - 15/03/2018

Nigerian gencos in crisis as World Bank adds to support for industry

Approval by the World Bank Group (WBG) of a $486m International Development Association (IDA) credit package for the Nigeria Electricity Transmission Access Project (Netap) signalled a continuation of the multi-billion dollar support structure put in place to reanimate the dysfunctional industry. But while the government can point to some advances, the outlook for the Nigerian electricity supply industry seems as precarious as it did eight years ago, when its elegantly structured privatisation was rolled out.

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African Energy - Issue 364 - 01/03/2018

Total back in favour in South Sudan

The government of South Sudan has decided to allocate shares in two oil blocks to Total, Tullow Oil and Kuwait Foreign Petroleum Exploration Company (Kufpec), petroleum minister Ezekiel Lol Gatkuoth told African Energy on 22 February. The government is also in talks with Spain’s Holdcorp over a contract for a third block, he said. The petroleum ministry is targeting an increase in crude production to 200,000 b/d by end-2018 and 300,000 b/d a year later, said Lol Gatkuoth, up from estimated Q1 2018 output of 120,000 b/d. The economy also stands to benefit from the planned conclusion in May of payments to Sudan for transit fee arrears.

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African Energy - Issue 363 - 15/02/2018

Ankara intervenes to block Egypt-Cyprus gas cooperation

Turkey has embarked on a ‘beggar thy neighbour’ policy in the eastern Mediterranean involving diplomatic and military pressure, as its long-term political and economic interests are threatened by quicker-than-expected advances towards the establishment of a regional gas hub centred on Egypt and involving Cyprus, Israel and possibly even Lebanon. Italy’s Eni, the leading exploration company in the region, is in the firing line.

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African Energy - Issue 362 - 01/02/2018

Political change rekindles optimism in South Africa’s energy sector

As demonstrated by its delayed financial results for H1 2017, Eskom has a long way to go before it is out of trouble. Liquid assets had fallen to R9bn ($757m) by the end of September, from R30bn the previous year, while the utility’s total debt was R360bn. Newly appointed chairman Jabu Mabuza said the debt-to-equity ratio of 72% was “unsustainable” and that Eskom needed to aim for closer to 50%.

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African Energy - Issue 361 - 18/01/2018

Angola’s new president clears out dos Santos clan, but how deep will change go?

Angola’s new president João Lourenço has sacked José Filomeno dos Santos as head of Angola’s sovereign wealth fund and set up a committee to manage the body. The sacking of José Filomeno, known as Zenú, the son of former president José Eduardo dos Santos, follows Lourenço’s removal on 15 November of Isabel dos Santos as head of the all-powerful national oil company Sonangol. Isabel’s sacking startled commentators who had thought Lourenço would keep everything much as president dos Santos had left it.

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African Energy - Issue 360 - 21/12/2017

Côte d’Ivoire on schedule to meet 4GW generation target by 2020

president ouattara’s approach to post-conflict recovery has focused on delivering infrastructure investments that raise funds from a wide variety of sources. the pace of project implementation suggests Côte d’ivoire could meet its target of reaching 4gW of installed capacity by 2020, adding to ouattara’s electoral appeal ahead of a still uncertain presidential poll, write Jon Marks and David Slater

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African Energy - Issue 359 - 07/12/2017

Peter Hain: more evidence to come in UK Gupta investigations

More evidence is expected from UK authorities and South African sources as part of the investigation into the use of the UK’s banking system by the Gupta brothers, Lord Hain of Neath – Peter Hain – told African Energy. Letters from Hain to the chancellor, Phillip Hammond, last month instigated investigations by the Financial Conduct Authority (FCA), National Crime Agency, and the Serious Fraud Office (AE 356/22). The Federal Bureau of Investigation has begun investigating in the United States and evidence has been submitted to the European Union, although an investigation has not yet begun.

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African Energy - Issue 358 - 23/11/2017

Geothermal development picks up steam in East Africa

Delays in finalising Corbetti Geothermal Company’s plans to sell up to 500MW of geothermal power to Ethiopia Electric Power’s grid and hold-ups in major Kenyan schemes that seek to harness the Rift Valley’s huge resources have underlined the slow pace of projects harnessing energy from the earth’s core in eastern Africa. For all the efforts to develop independent power projects and the support of leading multilaterals and initiatives such as the Geothermal Risk Mitigation Facility (GRMF), only the Olkaria complex in Kenya has been exploited so far on a large scale.

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African Energy - Issue 357 - 09/11/2017

West African states highlight open blocks as costs fall

This year’s Africa Oil Week in Cape Town saw a rash of promotional events by West African states highlighting their exploration opportunities. With oil touching $60, and costs sharply lower following the 2014 price crash, governments are hoping to attract new interest from companies inspired by recent success offshore Senegal and Mauritania, while a ruling by the International Tribunal on the Law of the Sea (Itlos) means exploration and development drilling can go ahead in promising areas offshore Ghana and Côte d’Ivoire.

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African Energy - Issue 356 - 26/10/2017

Shift to oversupply drives PPA price pressure in Egypt

The questions facing electricity sector strategists and their international and local partners have changed dramatically as Egypt has shifted from severe undersupply to oversupply. However, analysis of installed plants and the project pipeline to 2022 and beyond captured by African Energy Live Data suggests the underlying structure of power generation – dominated by state-owned gas-fired plants – will change only slowly, despite the huge amount of extra capacity being added to the system.

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African Energy Gulf States Newsletter