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Category: International

International Gas News Oil

Eni Finalizes $300 Million Asset Sale Deal with Perenco in Republic of Congo

Italian multinational energy company Eni has successfully concluded a $300 million deal for the sale of select upstream assets to oil and gas firm Perenco in the Republic of Congo. The agreement, initially announced in June 2023, aligns with Eni’s strategic objective of optimizing its operations and concentrating on significant upstream projects within the country. In a press release, Eni emphasized its dedication to harnessing the Republic of Congo’s extensive gas resources, particularly through initiatives

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International Gas News

Mozambique Adopts Law for Natural Gas Export Revenue

Mozambique’s council of ministers has approved a decree establishing legislation for a sovereign wealth fund. The fund will be tasked with managing revenues from an estimated $91.7 billion in natural gas exports in the coming decades. Under the new law, 40% of liquefied natural gas revenues will finance the fund during its first 15 years, with the remaining portion allocated to the national budget. Subsequently, a balanced allocation between savings and expenditures will be implemented.“The

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International Oil Petroleum

Fuel Costs Expected to Drop as Port Harcourt Refinery Resumes Operations

Fuel costs in Nigeria are anticipated to decrease once the Port Harcourt Refinery recommences operations, according to the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energy Marketers Association of Nigeria (MEMAN). The national petroleum company of Nigeria has pledged that the refinery will be operational within two weeks, prompting preparations by marketers to receive products from the facility. Both IPMAN and MEMAN have urged the Nigerian National Petroleum Company Limited (NNPC) to

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International Local News

Trina Solar, SOLA, and WBHO Collaborate on 135 MW Merak 1 Solar Project

Solar energy provider Trina Solar, in partnership with renewable energy firms SOLA and Wilson Bayly Holmes-Ovcon (WBHO), is set to develop the 135 MW Merak 1 project. The project aims to supply solar power to mining company African Rainbow Minerals’ operations. Trina Solar will provide 205,161 panels of its Vertex modules for the Merak 1 project, while SOLA and WBHO Construction’s joint venture will oversee its execution. Zaheer Khan, Trina Solar’s Regional Director of Southern

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Expos & Events International News

OPEC Secretary-General to Deliver Address at Namibia International Energy Conference 2024

Haitham Al Ghais, Secretary General of the Organization of Petroleum Exporting Countries (OPEC), will deliver an address at the Namibian International Energy Conference (NIEC) in Windhoek this April, sharing insight into global oil trends. The Secretary-General will be joined by a delegation from the organization, who will lead technical discussions around the outlook for oil and the potential role Namibia plays in the global market.  Namibia is on track to produce its first oil from

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International Gas News

Mozambique Approves Sovereign Wealth Fund Legislation for Natural Gas Earnings

Mozambique’s Council of Ministers recently approved legislation for the nation’s new sovereign wealth fund, marking a pivotal step in managing the anticipated earnings from its burgeoning natural gas exports, valued at around $91.7 billion. This move aligns with Mozambique’s efforts to enhance governance and transparency, particularly crucial after facing financial scrutiny and international financing challenges since 2016. The legislation, a key component of an economic reform program supported by the International Monetary Fund, aims to

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International

Zimbabwe: Invictus Energy Proceeds with Appraisal Drilling

Independent upstream explorer Invictus Energy will move ahead with plans to carry out appraisal drilling and seismic surveys on its Mukuyu discovery in Zimbabwe. Invictus Energy will undertake a well test design study to determine test parameters for the discovery while implementing a long lead equipment and mobilization plan to establish a timeframe for the project. The Australian explorer is currently evaluating contract bids for well services for the testing and exploration of future appraisal

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International Energy Renewable Energy

Libya’s REAoL Signs Renewable Energy MoU

The Renewable Energy Authority of Libya (REAoL) has signed an MoU with a Canadian consortium comprising engineering and construction firm Petro Techna International Company and investment company Jacob Capital. The MoU aims to enhance cooperation in renewable energy projects. The agreement – signed by REAoL Chairman Abdul Salam Al Ansari and Petro Techna’s President and CEO Ali Malik in March 2024 – will leverage Canadian expertise in the Libyan renewable energy sector, specifically in advisory

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International Energy Renewable Energy

23 MW Solar Plant to be Built in The Gambia

Gambian President Adama Barrow has commissioned a 23 MW Solar Plant in Jambur to reduce the country’s reliance on imported fossil fuels for electricity generation. The plant comes as part of The Gambia’s strategy to generate 50% of its energy mix from renewable energy by 2030. “The project clearly demonstrates the country’s commitment to reducing the carbon footprint and greening our energy landscape,” stated President Barrow. The project is part of a plan for a

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International Energy News Renewable Energy

Morocco Allocates 1M Hectares for Green Hydrogen Projects

Morocco plans to allocate one million hectares of land for green hydrogen projects, part of a broader strategy to attract investment in the sector. Prime Minister Aziz Akhannouch revealed that the land allocation will be rolled out gradually, with an initial release of 300,000 hectares. The government intends to offer plots of land ranging from 10,000 to 30,000 hectares – tailored to suit the scale of proposed projects – within a structured contractual framework to

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