South Africa’s National Department of Transport has recently given powership operator, Karpowership, permission to access the ports of Ngqura, Durban, and Saldanha Bay for a duration of 20 years. This move aims to address the country’s power crisis by utilizing Turkish gas-to-power ships to generate 1,220 MW of electricity and distribute it through South Africa’s grid. Transport Minister Hon. Sindisiwe Chikunga made the announcement on May 18, stating that the safety measures and operations of
Boasting the sixth-largest lithium reserves globally and representing one of Africa’s biggest producers of the commodity, Zimbabwe is poised to play a crucial role in advancing the global energy transition through the supply of lithium and related products. With untapped resources, a national agenda to develop the entire lithium value chain, and new investment flowing inwards due to growing global demand, the country is well on its way to becoming a global lithium hub. Untapped
Independent oil and gas company Afentra PLC has successfully concluded its acquisition of ownership stakes in two offshore oil blocks in Angola from INA-Industrija, a Croatian multinational oil company. This development marks Afentra’s entry into the southern African nation. Following the acquisition, Afentra now possesses a 4% interest in Block 3/05 and a 4% share in Block 3/05A. This move grants the company access to crude oil reserves valued at up to $16.6 million. It
Historically, oil and gas projects have been known to experience delays ranging from 5% to 20% of the project duration due to project complexity, significant capital requirements, and the multi-faceted nature of developments. In 2023, oil and gas projects across Africa are experiencing even further delays, a trend detailed in the African Energy Chamber’s (AEC) recent market-focused report, The State of African Energy Q1, 2023 Outlook. The report paints a revealing picture of the challenges
H.E. Aly Seydouba Soumah, the Minister of Energy, Hydroelectricity, and Hydrocarbons of Guinea Conakry, will deliver a speech at the MSGBC Oil, Gas & Power 2023 conference and exhibition in Mauritania. His presentation will focus on highlighting the opportunities available in the sector. The MSGBC Oil, Gas & Power 2023 Conference, set to take place in Mauritania on November 21-22, will feature the inaugural keynote address by Aly Seydouba Soumah, the Minister of Energy, Hydroelectricity,
Angola aims to boost its non-oil sector to become four times larger than the oil sector by 2050, as announced by the Minister of State for Economic Coordination in Luanda on Friday. Manuel Nunes Júnior unveiled the “Angola Long-Term Strategy – 2050” public consultation project, inviting the public to contribute and provide input until June 15. The minister emphasized the importance of encouraging and supporting the private sector to assume a more significant role in
The Ministry of Mineral Resources, Petroleum, and Gas encourages oil companies operating in the country to develop strategic measures to address oil spills. To achieve this goal, it is recommended that the regulations outlined in the National Contingency Plan for Oil Spills be adhered to in order to prevent harm to the environment. During a press statement at the conclusion of the ExxonMobil-sponsored Regional Exercise on Level Three Oil Spill Response, which was attended by
Angola has become an attractive investment destination, particularly in the oil and gas infrastructure sector, enticing global and regional players to expand their presence or enter the market. The country has seen foreign capital flow into its market for some time, but recent months have witnessed heightened investment flows driven by advancements in the oil and gas infrastructure sector. Angola’s attractiveness as an investment destination is expected to further increase due to its attractive fiscal
Angola, as the largest oil producer in Africa, faces a significant challenge with its minor downstream industry and heavy reliance on petroleum imports, which currently account for approximately 80% of its refined petroleum products. To address this issue, the Angolan government has made increasing domestic crude processing capacity a strategic priority. With vast proven oil reserves of over 8.2 billion barrels and abundant natural gas resources totaling 13.5 trillion cubic feet, Angola has the potential
The growth of the oil and gas industry in the country has the potential to meet the growing regional demand for energy. The information is contained in a report by the African Energy Consultant. According to the document, with the country holding around 27 trillion cubic feet of natural gas and 7.8 billion barrels of oil reserves, and with Sub-Saharan Africa representing one of the lowest rates of access to energy worldwide worldwide, developments in Angola’s
