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African Energy - Issue 373 - 12/07/2018

Shadow of debt has not yet deterred Zambia’s investors

An announcement by finance minister Margaret Mwanakatwe on 6 July that the government had completed a three-week investigation into its debt sustainability and “we know what debt we have and also we have shared the facts and figures with the [International Monetary Fund] IMF” illustrates how perilous its debt situation has become. A combination of inept governance and ugly politics means that President Edgar Lungu’s administration has lost credibility to the point that investors are sceptical of both its figures – the government claims to have $9.3bn of external debt – and its ability to get control of its finances.

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African Energy - Issue 372 - 28/06/2018

Turmoil in Libya’s oil crescent threatens new blockade

The deal between the Tripoli-based National Oil Corporation (NOC) and Cyrenaica-based Libyan National Army (LNA) that has ensured steady oil production of around 1m b/d for the past two years has broken down, threatening a new extended blockade of oil exports, the further destabilisation of the critically weak economy and possibly the opening of a new phase in Libya’s lengthy civil war.

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African Energy - Issue 371 - 14/06/2018

Islamist attacks in northern Mozambique highlight challenges facing LNG scheme

Scores of people have been killed since late May in attacks on villages in the northern Cabo Delgado province blamed on Islamist militants. In one attack near the coastal town of Palma, the attackers abducted residents from Monjane and Ulumbi villages who were found beheaded on 27 May in nearby bush. Security forces have deployed in the area, where consortia led by Anadarko and Eni are planning big liquefied natural gas (LNG) developments.

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African Energy - Issue 370 - 31/05/2018

Libya generation tenders undone by accountants and gunmen

Libya’s independent national audit authority has cancelled two power plant construction contracts worth $700m awarded by General Electric Company of Libya (Gecol) to Siemens and Turkey’s Enka Teknik in December because of irregularities in both the financing and the tender. African Energy understands that a powerful Tripoli-based militia may also have threatened violence to prevent the financing documents from being signed.

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African Energy - Issue 369 - 17/05/2018

Equatorial Guinea woos neighbours with regional gas scheme

The Ministry of Mines and Hydrocarbons and GEPetrol signed an agreement on 9 May with Noble Energy to provide additional gas as backfill for Marathon’s liquefied natural gas (LNG) plant as the first phase of the government’s planned Gas Megahub project.

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African Energy - Issue 368 - 03/05/2018

Final investment decisions approach for Mozambique LNG schemes

A group led by Anadarko Petroleum Corporation is nearing a final investment decision (FID) on the Golfinho-Atum liquefied natural gas (LNG) scheme, with long-term offtake agreements and a potential financial close finally coming into view even though sale of the full 12.8m t/yr nameplate capacity from the first two liquefaction trains is unlikely to be finalised before the key move.

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African Energy - Issue 367 - 19/04/2018

Senegal Scaling Solar tariffs drop below €0.04/kWh

Senegal’s Commission de Régulation du Secteur de l’Electricité on 5 April announced the results of a tender to build two 60MW solar photovoltaic (PV) plants at Kahone and Touba. The tender was launched under the mandate of the World Bank Group (WBG)-backed Scaling Solar initiative.

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African Energy - Issue 366 - 05/04/2018

Morocco relaxes LNG import timetable following gas finds

Rabat has released little information about the impact of gas finds in eastern Morocco, in line with its cautious management of information on the hydrocarbons industry. But reserves in the Sound Energy-operated Tendrara gas field are now deemed sufficient for the government to stop taking gas through the Maghreb-Europe Gas Pipeline (GME) when its contract with Algeria expires in 2020-21. This means Morocco will not need to import liquefied natural gas (LNG) until much later in the next decade, when new combined-cycle gas turbine (CCGT) power plants are built, officials in Rabat have told African Energy.

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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 Gulf States Newsletter