South Sudan and Sudan are making progress toward resuming the flow of South Sudan’s crude oil through the pipeline that traverses Sudan, a critical move for South Sudan’s oil-dependent economy. In a statement released on September 16, 2024, following a meeting in Juba between South Sudan President Salva Kiir and Sudan’s army chief, Abdel Fattah al-Burhan, Kiir’s office confirmed that Sudanese engineers have completed the necessary technical preparations for the resumption of oil production. The
Mozambique’s presidential candidates are advocating for the renegotiation of contracts related to the nation’s major projects with developers, a move that could potentially delay the construction of liquefied natural gas (LNG) facilities by TotalEnergies SE and ExxonMobil Corp. Daniel Chapo, the candidate from the ruling Liberation Front of Mozambique (Frelimo), expressed last month that contract revisions should be conducted on a case-by-case basis. This sentiment has been echoed by candidates from three opposition parties, sparking
The National Fuel Company of Angola (Sonangol) is set to continue its light well intervention program in Offshore Block 3/05, aimed at enhancing facility reliability and optimizing oil production. This initiative was detailed in a semi-annual earnings update from oil and gas company Afentra. The upgrade program will focus on increasing water injection rates, building on the maximum injection rate of approximately 60,000 barrels per day achieved in April. Additionally, the project will involve the
The review of Angola’s General Electricity Law, recently approved by the Council of Ministers, will soon pave the way for private sector participation in energy transmission once it receives approval from the National Assembly. This announcement was made by the Minister of Energy and Water, João Baptista Borges, during the opening of the 13th Consultative Council of the sector, held in Luanda. Borges emphasized that this development is critical for advancing cross-border energy interconnection projects
Eskom and Sasol have signed a memorandum of understanding (MoU) to explore the introduction of liquefied natural gas (LNG) as a replacement for natural gas imports from southern Mozambique, which are expected to decline significantly by 2027. The MoU was signed by Eskom CEO Dan Marokane and Sasol CEO Simon Baloyi during a ceremony at Eskom’s Megawatt Park, attended by Electricity and Energy Minister Dr. Kgosientsho Ramokgopa. In early September, Sasol announced that the decline
Angola’s National Diamond Company (Endiama) estimates the country’s diamond reserves at 732 million carats, potentially generating $140 billion for the state at an average price of $200 per carat. Miguel Vemba, Director of Mining Operations at Endiama, emphasized that over 90% of these reserves are located in primary deposits. Speaking at the 10th UNESCO African Engineering Week & African Engineering Conference in Luanda, Vemba stressed the need for efficient recovery mechanisms, including the use of
Sonangol will begin paying interest on Coupon No. 2 for holders of the “Sonangol 2023-2028” Bonds on Wednesday, September 18, 2024. Initially scheduled for Saturday, September 14, the payment date was adjusted in accordance with business day conventions outlined in the bond prospectus. A total of 6.6 billion kwanzas will be disbursed, subject to withholding of the Capital Investment Tax, based on the applicable tax regulations in force at the time of payment. According to
Shell International Plc has received approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its onshore assets to Renaissance, a consortium of Nigerian and international companies, in a deal valued at $1.3 billion. The sale includes Shell’s 75-year-old onshore oil assets, which will boost Nigeria’s oil production and government revenue while supporting naira stability and advancing gas development initiatives. The final approval, however, rests with President Bola Tinubu, who also serves as Nigeria’s
South Sudan and Sudan have taken significant steps to resume the flow of South Sudan’s crude oil through a pipeline that runs across Sudan, a crucial move for South Sudan’s economy, which heavily relies on oil revenue. According to a statement from South Sudan President Salva Kiir’s office on September 16, 2024, Sudanese engineers had completed the technical preparations needed to restart oil production. This announcement followed a meeting in Juba between Kiir and Sudan’s
Nigeria’s state-owned oil company, NNPC Limited, began distributing gasoline from the 650,000 barrels-per-day Dangote Refinery to the local market on Sunday, September 15, following delays over offtake rights and pricing. The $20 billion Dangote Refinery, built by Africa’s richest man, Aliko Dangote, started gasoline production last week, but distribution was held up due to disputes. Z acch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), announced that all agreements have now been finalized,
