Angola’s largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said in a boost to the country’s plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni (ENI.MI) and BP (BP.L), was formed last year when the two companies consolidated their Angolan assets. The company plans to drill 16 exploration wells over the next four
Anglo American Platinum, BMW Group South Africa (BMW SA), and Sasol have partnered to prove that a hydrogen mobility ecosystem can operate successfully within South Africa. The three companies inked an agreement on Monday at the 2023 South African Green Hydrogen Summit in Cape Town that will bring hydrogen fuel cell electric vehicles (FCEVs) and supporting hydrogen refueling technology to South Africa. In terms of the agreement, BMW will provide the FCEVs a test fleet
Sonangol begins its participation in this year’s African Energy Week (AEW) today, where it is presenting a communication dedicated to the company’s actions in the areas of optimizing the business model after the regeneration process and the energy transition. In a statement sent to the Jornal de Angola on Sunday, Sonangol stated that at the event, which runs until Friday, it is represented by a delegation led by Executive Administrator Osvaldo Inácio. This delegation includes
The forthcoming Critical Minerals Africa (CMA) 2023 summit has unveiled its three-day program, bringing together public and private sector industry leaders in a concerted effort to establish world-class mineral supply chains in Africa. Commencing the main conference agenda on October 18th, 2023 is a ministerial forum that will showcase the participation of ministers from South Sudan, Malawi, and the Democratic Republic of the Congo, along with ministry representatives from Tanzania and Zimbabwe. They will outline
The African continent is currently in the midst of an exciting and transformative period in its energy sector. As global awareness of the urgent need to transition to cleaner and more sustainable sources of energy intensifies, African nations are stepping up their efforts to harness their vast renewable energy potential. In this endeavor, African banks are playing a crucial role by providing the much-needed financial support to propel the continent’s energy transition. This article explores
The European Bank for Reconstruction and Development (EBRD) has approved a €45 million loan to Tunisia’s Société tunisienne de l’électricité et du gaz (STEG) for a submarine power cable linking Tunisia and Italy. STEG will combine the loan with a €307.6 million grant from the European Union’s Connecting Europe Facility, and financing from the European Investment Bank, the World Bank, and KfW to develop the 200-km 600 MW high-voltage direct current transmission network. The project,
The TFT Group, a joint venture comprising the Algerian National Oil Company Sonatrach and the global oil and gas major TotalEnergies, has signed a contract with Entreprise Nationale de Grands Travaux Pétroliers (ENGTP) to expand the TFTII oil and gas pipeline. ENGTP will conduct engineering studies, procure equipment, and materials for the project, as well as construct the pipeline, flowlines, and surface facilities as part of the 8 billion dinars contract. The extension of the
In a time of significant change and transformation in the global energy sector, Petrofac is gearing up to play a pivotal role in meeting the evolving energy needs of the world. The company is actively seeking dynamic team players to join its ranks and contribute to its mission of shaping the future of energy supply and security. The world is currently reevaluating its energy supply sources and energy security requirements. As it plans for a
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
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
