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Energy Local News

TechnipFMC signs subsea deal with Azule Energy

Global oil and gas company TechnipFMC has been awarded a contract by Azule Energy – a joint venture between oil and gas supermajors, Eni and bp – to supply subsea production systems for the Block 18 Infills development, offshore Angola.  Announced on 26 June, the contract will involve the mobilization of between $75 million and $250 million and will see TechnipFMC design and manufacture subsea trees, a manifold, subsea distribution equipment, topside controls and spearhead the engineering, procurement

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Economy Energy International News

Senegal Inks $2.7B Climate Financing Deal with G7 Nations

Senegal has taken an important step towards its energy transformation ambitions by signing a $2.7 billion Just Energy Transition Partnership (JET-P) contract with G7 nations and the European Union (EU). The agreement intends to help Senegal achieve its goal of increasing the amount of renewable energy in its energy mix to 40% by 2030. The JET-P will unlock financial support from France, Germany, the EU, the United Kingdom and Canada, totaling $2.7 billion over a

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Energy Gas International News Oil

Tanzania LNG to Ink Host Govt Agreement in July

Tanzania is set to sign a Host Government Agreement (HGA) with energy majors Shell, Equinor and ExxonMobil for the country’s $42 billion liquefied natural gas (LNG) development in July, according to Felchesmi Jossen Mramb, Permanent Secretary in Tanzania’s Ministry of Energy. The HGA will outline the rights and obligations of the government and national oil company as well as the conditions under which the onshore project will be developed and operated. In addition to signing

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Energy Gas Local News Oil

Angola and the DRC to Ink Block 14 Agreement on July 13

The Democratic Republic of the Congo’s Hydrocarbons Minister Didier Budimbu and his Angolan counterpart Diamantino Pedro Azevedo have agreed to sign the Memorandum of Understanding (MoU) for the development of Block 14 on July 13 in Kinshasa. The signing of the MoU will formalize the Block’s ownership, with the DRC and Angola set to take a 30% share while global energy major – and operator of the block – Chevron will own a 40% stake, and follows

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Energy Local Mining News

Angola begins production of critical minerals for the energy transition

The government will initiate the production of neodymium and praseodymium, minerals used in the manufacturing of batteries for electric cars, over the next five years, according to a statement by the Ministry of Mineral Resources, Petroleum, and Gas (Mirempet) and AME Trade. They announced the 2nd Angolan Mining Conference & Exhibition (AMC) 2023, which will take place in November. Country is positioned to benefit from critical minerals, Archive Copper and niobium are joining the list

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Economy Energy Local News

Angola LNG Hits Milestone with 400th Cargo Delivery

The Angola Liquefied Natural Gas (LNG) project, one of the largest energy projects in Africa, shipped its 400th cargo of LNG this month. Coinciding with the 10th anniversary of the 5.2 million ton per annum project’s first cargo delivery in 2013, this significant milestone demonstrates the project’s reliability as a competitive supplier of LNG to the global market. Angola LNG’s momentous cargo was loaded onto a 160,000 cubic meter LNG carrier, berthed at the country’s Soyo terminal on 13

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Economy Energy International Oil Petroleum

Oil Prices Slide as UK Rate Hike Raises Demand Concerns

Oil prices continued to slide due to concerns about global demand, following a higher-than-expected interest rate hike in the UK and warnings of future rate increases in the US. Brent futures dropped by 51 cents, or 0.4%, settling at $73.76 per barrel, while US West Texas Intermediate (WTI) crude futures fell by 42 cents, or 0.6%, reaching $69.09 per barrel. The Bank of England’s decision to raise interest rates by half a percentage point raised

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Economy Energy Gas International Renewable Energy

Mauritania’s Hydrocarbons Company Updates Gas and Renewable Projects

Mauritania possesses natural resources of world-class quantity and quality, including gas, solar and wind renewables, and minerals. These three pillars form an integrated and synergetic strategy adopted by the government to establish the country as an energy and steel hub for the local, regional, African, and international markets. Within this context, SMH is actively involved in various projects, both in the exploration and development stages. In terms of exploration, we are collaborating with partners Shell

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Economy Energy Gas

Boosting Africa’s Energy Transition – Initiatives, Funding, and Investment

Countries across Africa are taking significant steps to address the energy crisis and increase access to electricity, particularly in sub-Saharan Africa, where 43% of the population still lacks access to electricity. The continent is embracing the potential of renewable energy sources and seeking to leverage its vast reserves of critical minerals necessary for the global energy transition. To facilitate this transition, African nations are implementing policies that consider the energy crisis, climate change, and the

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Economy Energy

Africa Energy Conference held in Africa for the First Time

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

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