Angola may slow the removal of fuel subsidies to avoid a repeat of protests in June over a near-doubling in petrol prices in which at least five people were killed, the southern African country’s finance minister said on Monday. No decision has been made yet in ongoing internal discussions on whether to extend the end-2025 deadline for phasing out the subsidies, Vera Daves de Sousa told Reuters in an interview on the sidelines of the
Chevron has temporarily suspended natural gas exports via the East Mediterranean Gas (EMG) pipeline, which links Israel and Egypt. The company is redirecting its gas supply through Jordan a response to the increasing hostility between Israel and Hamas in the Gaza Strip. The EMG pipeline, spanning 90 Km, serves as a crucial conduit, linking the Chevron operated Leviathan offshore gas field in Israel to Egypt. Israel’s energy ministry confirmed Chevron’s request to utilize the Arab
The Canadian oil and gas exploration company Africa Oil Corp has announced plans to implement two carbon offset projects in Kenya to accelerate its decarbonization efforts and diversify revenue streams in the energy transition era. The company will focus on nature-based carbon offset projects it can directly control and monitor for quality and progress, aligning with its commitment to environmental sustainability. “Markets for new products and services may present opportunities for the company to expand
Namibia expects the first oil from major offshore finds by 2030 and is considering a floating production storage and offloading (FPSO) platform to help it export the crude oil, its petroleum commissioner said on Wednesday. Namibia, which has yet to produce any oil and gas, has attracted strong interest from international energy companies after Shell and TotalEnergies made discoveries off the coast of the Southern African country. Petroleum commissioner Maggy Shino told Reuters at an
By 2035, Africa has the potential to produce 50 million tons of competitively priced green hydrogen, with expected global demand for green hydrogen reaching 607 million tons by 2050. In comparison, Africa’s demand for green hydrogen and its derivatives is expected to be between 10 million and 18 million tons a year by 2050, with a production potential exceeding that. Prasad emphasizes that Africa can export between 20 million and 40 million tons of green
The head of Nigeria’s oil regulator said he is “very optimistic” that the oil major Exxon Mobil’s asset sale to Seplat Energy can move forward. The regulator last year refused to approve the $1.28-billion sale, which some in the industry say is key to getting much-needed investment into Nigeria’s oil and gas sector. “We are very optimistic that parties to the transaction will go back, look at the position of the regulator, and come back
The Zambian government is expected to make a final decision on the sale of Mopani Copper Mines this month, securing a new investor for the assets it bought from Glencore in 2021, according to a source with knowledge of the matter, as reported by Reuters. Zambia’s Mines Minister, Paul Kabuswe, had initially stated that a new investor for the struggling copper mines would be selected by the end of July. However, the process has been
Africa Energy Expo is primed to foster essential relationships and catalyze strategic investments within the energy sector Informa Markets a leading global exhibition and conference organizer, today announced the launch of the first-ever Africa Energy Expo, set to take place in the vibrant city of Kigali, Rwanda, from 20 to 22 February 2024. This flagship event is designed to facilitate critical discussions, foster collaboration, and drive progress in achieving the UN’s Sustainable Development Goal 7
Europe faces soaring gas prices as Israel suspends production at the Tamar field due to the Gaza conflict, while a leak in the Baltic pipeline fuels security concerns. Gas prices in Europe have witnessed a significant surge following Israel’s decision to suspend production at its Tamar gas field in the wake of ongoing deadly attacks from Gaza. The conflict, which has claimed over 1,100 lives since the weekend, has prompted Israel’s energy ministry to explore
South Africa’s master plan to develop its gas market is finally ready after repeated delays as it aims to reduce its carbon emissions and avoid chronic power outages that have plagued Africa’s most developed economy for years. The master plan will go to the cabinet before public release, a senior official at the department of mineral resources and energy (DMRE) said on Tuesday 10th October, 2023. “It is done, it is going through the internal
