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International Energy Gas Oil

US Steps Up Support for Libya’s Energy Sector Expansion

The US is stepping up its support for diversified energy development in Libya, specifically targeting the modernization of its oil and gas sector, enhanced transparency and improved service delivery. In a bid to bring American companies into the Libyan market, the U.S. Embassy in Tripoli and US Agency for International Development (USAID) have made recent commitments to establishing a business-enabling environment, improving fiscal transparency and promoting targeted reforms in the country, coupled with a string

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Energy Local News

Standard Bank finances Azule Energy workers

Standard Bank of Angola (SBA) and Azule Energy, a consortium that brings together the Angolan assets of the Italian Eni and the British BP in the Energy sector, announced that they had signed, on Monday 11th December , a protocol for the allocation of a set of benefits for the energy company’s staff, with a focus on housing credit. The president of the Board of Directors of the SBA, Luís Teles, indicated in a note

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International Energy Renewable Energy

Hyphen Hydrogen, DBSA Sign $5.4M Project Preparation Facility

Green hydrogen development company, Hyphen Hydrogen Energy, has signed a Project Preparation Facility (PPF) agreement with the Development Bank of Southern Africa (DBSA) for its large-scale green hydrogen project in Namibia. To the tune of $5.4 million, the PPF will support the engineering, environmental and socioeconomic components of the project. “The DBSA and Hyphen’s partnership will facilitate the creation of a new asset class in the energy sector with a profound and positive economic, social

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Energy International

South Africa’s nuclear power expansion targets 2,500 MW amidst Energy woes

Electricity Minister, Kgosientsho Ramokgopa has announced that South Africa will initiate a procurement process for an additional 2,500 megawatts (MW) of nuclear power to tackle blackouts that have crippled the nation. The first of the new units will likely be operational in 2032 or 2033, Department of Energy Deputy Director-General for Nuclear Zizamele Mbambo told reporters Tuesday in the capital, Pretoria. According to data provided by Eskom, South Africa is facing a severe electricity crisis

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Energy International

West Africa’s Energy Transition Offers $1T+ in Investment Opportunities

West Africa is home to a diverse landscape of energy players, from mature petroleum producers to emerging gas frontiers. For established markets, the energy transition requires decarbonizing and optimizing existing operations, while bringing renewable energy and carbon capture technologies to the forefront. Meanwhile, frontier markets are seeking to build sustainable energy mixes from the ground up, relying on integrated gas developments to fuel their transition. As a result, an array of partnership and investment opportunities

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Energy International Renewable Energy

Libya Adopts Renewable Energy Strategy, Targets 20% by 2035

Libya has set an ambitious target to source up to 20% of its electricity from renewable energy resources by 2035 through a strategy that has gained the support of global partners. Established last October and announced earlier this month, the strategy is considered a strategic economic move by the government, as it serves to not only raise access to electricity but also alleviate fiscal stress. Currently, energy subsidies account for 30% of government spending annually.

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Energy Gas Local News Oil Petroleum

Azule Energy Joins Global Efforts for Oil and Gas Sector Decarbonization

Azule Energy, an Angolan company, has recently become a signatory to the Global Oil and Gas Decarbonization Charter (OGDC), aligning with efforts aimed at advancing climate action within the oil sector. The OGDC Charter was unveiled during COP28, the International Climate Summit, held in the United Arab Emirates from November 30th to December 12th. With over 50 companies on board, representing 40% of global oil production, this initiative has seen National Oil Companies (NOC) comprising

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Local Energy News Renewable Energy

COP28: Masdar to Develop 150 MW Solar Plant in Angola

Renewable energy company, Masdar, has signed an agreement with Angola’s Ministry of Energy and Water to develop a 150 MW solar photovoltaic (PV) plant in southern Angola. The solar plant will provide renewable energy to approximately 90,000 homes and is expected to create up to 600 jobs. Announced on December 1 during the COP28 Summit in Dubai, the agreement was signed between  Angola’s Minister of Energy and Water, João Baptista Borges, and Masdar CEO, Mohamed

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International Energy News Renewable Energy

Mozambique: BNI Inks Deal with Emirati AMEA Power for Matambo Solar Project Development

Mozambique’s National Investment Bank (BNI) on Monday December 2nd signed in Dubai an agreement with AMEA Power from the United Arab Emirates valued at 150 million US dollars. The agreement is aimed at developing a photovoltaic solar power plant with an estimated annual capacity of between 125 and 200 MWp (megawatt peak). The agreement was signed during the 28th meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change

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International Energy Gas News Oil

COP28: Mozambique launches Energy Transition Strategy at Climate Change Summit

Mozambican President Filipe Nyusi launched on Saturday 2nd December, in Dubai, the Energy Transition Strategy for 2023-2030, an initiative intended to place the country at the forefront of climate innovation, as well as making it an attractive investment destination. The launch took place during a panel at the United Nations Climate Change Summit, COP 28. “The Strategy’s mission is to leverage Mozambique’s abundant renewable and natural resources to accelerate the implementation of a low-carbon development

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