Angola’s state-owned oil company, Sonangol, has revealed its strategic plan for 2023-2030, which includes a focus on the value chain linked to hydrocarbons, an increase in refining capacity to 425,000 barrels of oil per day, and the addition of a petrochemical complex. The company also plans to increase storage capacity and produce renewable energy from photovoltaic projects to reduce carbon dioxide emissions by around 15%. Furthermore, the company aims to increase carbon capture and investment
Engen Petroleum, a South African oil firm that specializes in downstream refined petroleum products and associated companies, and Vivo Energy, a British downstream petroleum company with subsidiaries and operations in 23 countries across Africa, have merged their African operations to form one of the continent’s largest energy distribution firms. The merged group will have approximately 3,900 service stations and more than two billion liters of storage capacity, across 27 African nations. Engen, which is the
With Namibia’s energy sector on the precipice of rapid transformation on the back of recent oil and gas discoveries, the African Energy Chamber (AEC) will establish an office in the country dedicated to promoting local content development efforts. The AEC will engage with various stakeholders across the Namibian energy industry, including national and international oil companies, the government and service companies, utilizing a multi-tiered approach to scaling up local talent and capabilities. The office will
Antonio Oburu Ondo, Equatorial Guinea’s recently appointed Minister of Mines and Hydrocarbons, has awarded independent exploration and production company, Panoro Energy, a 56% participating interest and operatorship in Block EG-01 offshore the hydrocarbon-rich West African country, as well as Canadian oil and gas company, the Africa Oil Corporation, two production sharing contracts (PSC) for offshore Blocks EG-18 and EG-31. With the PSCs, the Ministry of Mines and Hydrocarbons, under the leadership of Minister Ondo, has
The global energy sector’s appetite for minerals, many of which can be sourced in Africa, is good news for the future of mining, and was an important focus at this year’s Investing in Mining Indaba in Cape Town, South Africa. However, despite the good news, the pressure on mines is still all about low-cost production. According to Ralf Hennecke, Managing Director of Omnia Group company BME, efforts to decarbonise the world economy are relying on energy technologies that
Africa’s energy deficit has given rise to African entrepreneurs that are introducing new technologies, especially in solar power, to fill these gaps. Progression is mostly driven by energy and many regions in the world are quickly running low on means to generate it. With over 600 million people devoid of access to electricity, Africa is a region amid an energy crisis. Despite Sub-Saharan Africa’s booming population, the region has a an extremely low electrification
The photovoltaic plant, which has been installed in Lucapa Municipality of the north-eastern Lunda Norte Province, since 2021, will start producing power in the first quarter of 2024. The solar power plant is 61% complete, whereby in relation to mechanical assembly, with installation of the solar panels and support structures that include civil engineering, it is over 90% complete. So far, out of the 12,090 solar panels, approximately 11.000 have already been installed, with the
We encourage all parties to investigate – and invest in – Africa’s rising stars for long-term energy solutions Africa’s oil and gas industry is going to breathe new life into many African economies and will create new opportunities for every many Africans in 2023. During the recent African Energy Week, many players and host nations outlined some of the most ambitious plans produce more natural gas, diversify our economies and create more jobs especially for
U.S. and African Presidents must address energy poverty and a Just Transition We are confident that, like previous meetings between American and African Leaders, the events of the highly anticipated Africa Leaders’ Summit, taking place Dec. 13-15 in Washington, D.C., will show America’s earnest and enduring commitment to Africa in the broad sense. The African Continent, some organizers have said, will shape the future of the world. We truly believe that the leaders who will
Savannah Energy has announced the completion of its acquisition of ExxonMobil’s upstream and downstream asset portfolio in Chad and Cameroon The African Energy Chamber (AEC) supports the acquisition by Africa-focused British independent energy company Savannah Energy of oil and gas supermajor ExxonMobil’s entire upstream and midstream asset portfolio in Chad and Cameroon. The sale was closed on 9 December to the tune of $407 million. The announcement comes after Savannah Energy and ExxonMobil’s signing of
