Energy markets will continue to be affected by the Russian invasion of Ukraine and the Israel-Hamas conflict, according to Woodside Energy Group, Australia’s largest oil and gas producer. “The fallout has been massive, and the volatility is not over,” CEO Meg O’Neill said in a speech prepared for the Australian Energy Producers Conference scheduled for Tuesday in Perth. “It is instability absolutely nobody wants.” Although oil and gas prices have retreated from their initial spikes
Vivo Energy, owned by global commodities trader Vitol, will invest an initial 10 billion rand ($550.79 million) in its South African operations following its merger with Engen, South Africa’s trade minister Ebrahim Patel said on Wednesday. The investment is part of a range of public interest and competition commitments, designed to prevent job losses and continue supply contracts with local refineries, that domestic regulators sought when the merger was considered. “The company (Vivo) has committed
Ghana is set to select a company by December to build its first nuclear power plant, with contenders from the United States, Russia, China, France, and South Korea vying for the contract. France’s EDF, U.S.-based NuScale Power and Regnum Technology Group, and China National Nuclear Corporation are in the running, Reuters reported. South Korea’s Kepco, its subsidiary Korea Hydro Nuclear Power Corporation, and Russia’s ROSATOM are also competing, according to Robert Sogbadji, Deputy Director for
French oil major TotalEnergies has chosen Angola over Nigeria for a $6 billion energy project. The oil giant is moving forward with the development of the Kaminho oil project, located 100 km off the coast of Angola, following a final investment decision on the block, it announced on Tuesday. The $6 billion project involves developing two oil fields, Cameia and Golfinho, located in Block 20/11, according to a statement from Angola’s national hydrocarbon agency, ANPG.
The Beira corridor stands as a critical fuel supply route for Zimbabwe and a primary transit pathway for fuels heading to Zambia and the Katanga region of the Democratic Republic of the Congo. Integral to the region’s energy infrastructure are the combined assets of CFM (Port of Beira operator), CPMZ (Mozambican pipeline operator), PZL (Zimbabwean pipeline operator), and NOIC (Zimbabwe’s government-appointed shipper). Their efficient operation ensures energy security for Mozambique and the landlocked nations along
The inauguration and commencement of full operations at the Luachimo Hydroelectric Plant in Lunda-Norte marks a significant step in revitalizing economic growth in Angola’s eastern provinces. The plant, with a capacity of 34 megawatts (MW), will initially supply electricity to the city of Dundo. Minister of Energy and Water João Baptista Borges, speaking at the inauguration ceremony, emphasized the importance of the project in integrating the future 220 KVA electricity network connecting Dundo, Lucapa (Lunda-Norte),
Azule Energy, the joint venture formed in March 2022 by Italy’s Eni and the UK’s BP to merge their oil assets in Angola, successfully finances its operations independently and pays dividends to its shareholders. Vaar, an oil and gas company established in Norway with investment fund Hitec Vision, and Azule Energy operate with minimal dependence on their parent companies. According to Eni’s CFO Francesco Gattei, both companies fund their capital expenditures and maintain their own
An Italian company, Eni Kenya BV, is set to harness Kenya’s biogas potential by establishing a facility that will convert waste from five major landfills into energy for households. Eni Kenya BV, a subsidiary of the long-established energy company in Kenya, aims to turn environmental hazards into a sustainable energy source. A feasibility study conducted by Eni Kenya BV concluded that setting up a biogas facility in Kenya is practical. The company is now awaiting
International financial institution the World Bank is providing financial backing for a $138.5 million electricity project in Namibia. The project will strengthen Namibia’s electricity transmission network while advancing the integration of renewable energy in national grid infrastructure. Implemented by Namibia’s state-owned power utility NamPower, the project comprises the development of the second Auas-Kokerboom transmission line as well as a utility-scale battery energy storage system. The financing also serves to promote technical assistance to support NamPower
Energy major Kosmos Energy aims to increase production two-fold by the end of 2024, with milestones achieved across the company’s operations in Ghana, Equatorial Guinea and Senegal/Mauritania supporting this objective. According to the company’s Chairman and CEO Andrew G. Inglis, “Kosmos has had an active start to the year, continuing the operational and financial momentum we saw in 2023.” In Ghana, Kosmos Energy brought four wells online at the Jubilee Field in 2024, including one
