The Africa Energy Forum (AEF) has made history by holding its conference in Africa for the first time. Celebrating its 25th anniversary, the forum took place at the Kenyatta International Convention Centre (KICC) in Nairobi, Kenya. The event, organized by EnergyNet and officially endorsed by Kenya’s President H.E. Dr. William Ruto, commenced on June 20th and will run until June 23rd, 2023. The aef has established itself as the leading gathering of decision-makers in African
Kuwait Oil Tanker Co (KOTC) has announced in a statement that it has awarded a contract for a solar energy project at the gas factories in Um AlAish and Shuaiba. The contract has been granted to Kuwait’s Life Energy Co. and is valued at $6.35 million. The scope of work for this project includes the design, construction, operation, and maintenance of an electric power generation station using renewable energy (6.8MWp) at the two liquefied gas
Gold prices declined in thin trading on Monday as the U.S. dollar strengthened, while market participants looked forward to U.S. Federal Reserve Chair Jerome Powell’s upcoming testimony on Capitol Hill later in the week. By 10 a.m. EDT (1400 GMT), spot gold was down 0.3% at $1,952.00 per ounce. U.S. gold futures also fell by 0.4% to $1,964.00. With the U.S. markets closed for the Juneteenth holiday, trading activity was expected to be slow. The
Angola has emerged as a top destination for large-scale oil and gas investment over the past three decades. With substantial reserves and high returns on investment, foreign investors and project developers are increasingly attracted to the Angolan market. Angola is currently the largest oil producer in sub-Saharan Africa, with confirmed reserves of 9 billion barrels of oil and 11 trillion cubic feet of natural gas. Major oil and gas companies such as TotalEnergies, Chevron, ExxonMobil,
Experts involved in hydrocarbon exploration from the Republics of Angola and the Democratic Republic of Congo (DRC) analyzed the situation of the Common Interest Zone (CIZ) and the approach of the joint mechanism for the supply of petroleum products between Sonangol, Sonahidroc, and Cobil S.A. in Luanda yesterday, Tuesday 20. In the opening of the expert meeting, the Secretary of State for Mineral Resources, Jânio Corrêa Victor, emphasized Angola’s interest in complying with the timeline
Over 50 fuel stations located in border areas were disabled during the first quarter of this year due to smuggling, low profitability for concessionaires, and location. This statement was made by Bruno Dito, a technician from the Department of Commercial Relations, Tariffs, and Prices of the Regulatory Institute for Petroleum Derivatives (IRDP). There are a total of 51 operational fuel stations, with only 37 currently in operation. Dito provided this information during the presentation of
A delegation of Namibian entrepreneurs, led by the Deputy Minister of Mines and Energy, Kornelia Shilunga, will be conducting work visits to mining and oil projects in the provinces of Luanda, Lunda-Sul, Bengo, Benguela, and Cuanza-Sul from the 19th to the 28th of this month. The visit is part of the implementation of the Memorandum of Understanding (MoU) between Angola and Namibia, signed in the field of mineral resources and hydrocarbons. On the first day
With promising projects coming online this year, such as the Sangomar oil project in Senegal and the Greater Tortue Ahmeyim development located on the Senegal-Mauritania maritime border, it has become critical for MSGBC countries to establish effective governance policies to maximize the benefits of new energy supplies introduced to the market. Implementation of Special Economic Zones Special Economic Zones (SEZ) or free zones could be established between MSGBC governments and private sector operators to attract
Despite increasing calls from climate activists, the Middle East is expected to commence over 600 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects. Here is a list of the top 5 recent oil and gas project launches that you need to know about. Despite the increasing focus
Angola and the Dominican Republic have held a meeting to explore potential collaboration in the field of oil and gas development. The discussion took place between María Cándida Pereira Teizeira, Angola’s Ambassador to the Dominican Republic, and Eng. Antonio Almonte, the Caribbean country’s Minister of Energy and Mines. During the meeting, the parties discussed how Angola, being the largest oil producer in sub-Saharan Africa and having significant mining experience, could assist in enhancing the Dominican
