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International Energy News

Russia and Congo Sign Landmark Nuclear Cooperation Agreement

Russia and Congo-Brazzaville have signed a landmark agreement to cooperate in hydropower and peaceful nuclear energy, announced Russian nuclear company Rosatom. This agreement is part of Rosatom’s broader strategy to expand its nuclear activities across Africa. During a business visit to Congo, Nikolay Spassky, Rosatom’s Deputy General Director and Head of the International Activities Department, met with Emile Ousso, the Minister of Energy and Hydraulics, to finalize the agreements. The deal includes memoranda of understanding

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Energy

Nigeria’s Oil Losses Highlighted at NEITI Board Retreat

During the opening ceremony of the 2024 NEITI board retreat in Lagos, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, unveiled alarming statistics revealing significant losses in Nigeria’s oil sector. According to NEITI, Nigeria lost 619.7 million barrels of oil valued at $46.16 billion over a 12-year period from 2009 to 2020. Additionally, between 2009 and 2018, the country lost $1.84 billion worth of petroleum products from its refineries, equivalent

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International Energy News

South Africa Plans Nuclear Energy Development to Tackle Electricity Issues

The South African government recently announced plans to utilize nuclear energy to address its electricity challenges. However, Minister of Electricity and Energy, Dr. Kgosientsho Ramokgopa, emphasized that this initiative would proceed at a pace the country can afford. South Africa recently celebrated an uninterrupted 100-day power supply. Speaking to the media at the Cabinet Lekgotla in Tshwane, Dr. Ramokgopa disclosed that the country plans to develop its nuclear capacity for electricity generation, scaling the project

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Energy

88 Energy Initiates 2D Seismic Program in Namibia’s Owambo Basin

88 Energy Ltd. has commenced a 2D seismic acquisition program in the Owambo Basin, located onshore Namibia. The exploration company holds a 20% interest in Petroleum Exploration Licence 93 (PEL 93) and is earning its stake by financing the seismic operations. The program aims to acquire approximately 200 linear kilometers of 2D seismic data, with completion scheduled for the third quarter and data processing expected to conclude by the fourth quarter. The primary objective of

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Local Energy Gas News Oil

Angola and U.S. Companies Align for Major Oil, Gas, and Energy Projects

Angolan and North American companies in the oil, gas, and energy sectors have expressed their commitment to align with the policies of both governments to support project execution activities. This announcement came from the Secretary of State for Oil and Gas, José Alexandre Barroso, following a meeting in Luanda with executives from ExxonMobil, Chevron, and Sun Africa during the IV Dialogue between Angola and the United States. Barroso emphasized that while governments set policies and

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Local Energy Gas News Oil Petroleum

Aker Solutions Secures Long-Term Agreement for FPSO Projects in Angola

Norway’s Aker Solutions has secured a long-term frame agreement with Azule Energy to provide EPC (engineering, procurement, and construction) services for brownfield projects and modifications on two FPSOs (floating production storage and offloading units) in Angola. This agreement extends Aker Solutions’ ongoing collaboration with Azule Energy, Angola’s largest independent oil and gas producer and a joint venture between Eni and BP. The scope of work focuses on the Greater Plutonio and PSVM FPSOs. It includes

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Local Energy News

Gemcorp Angola Partners with Govt to Boost Energy Sector Development

Gemcorp Angola is committed to advancing energy sector projects in partnership with the Angolan government. To this end, a memorandum of understanding was signed in Luanda with the Ministry of Energy and Water, aiming to create a platform that will facilitate investments in the energy sector. The memorandum outlines plans for modernizing the Capanda Hydroelectric Plant and constructing electrical power transmission lines to the Namibian border. These initiatives will position Angola as a key energy

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International Energy News Renewable Energy

Nigeria to deploy 250 MW of distributed solar

Nigeria’s Rural Electrification Agency is partnering with Husk Power Systems for interconnected minigrids and isolated minigrids, rooftop commercial and industrial (C&I) solar, productive use of energy (PUE) initiatives, appliance sales, and financing. The Rural Electrification Agency (REA) of Nigeria and Husk Power Systems have agreed on a strategic partnership to deploy up to 250 MW of decentralized renewable energy (DRE) projects in support of the government’s energy access, energy transition, and energy security targets. The

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Local Energy News

Government plans to open energy production to the private sector

The expansion and modernization of the national electrical system, which includes three million connections, by 2027, foresees the insertion of the private sector in the production, distribution and commercialization of electrical energy in the country, with a view to ensuring financial sustainability, reducing high losses and improve the “weight” in the Gross Domestic Product (GDP). To this end, the Executive is already working on the new legal framework that will allow entrepreneurs to enter the

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Local Energy News

Angola’s National Electrical System Expansion Targets Private Sector Integration by 2027

The expansion and modernization of Angola’s national electrical system aims to add three million connections by 2027, with a key focus on integrating the private sector into energy production, distribution, and commercialization. This initiative seeks to ensure financial sustainability, reduce high losses, and improve the sector’s contribution to the Gross Domestic Product (GDP). To facilitate this transition, the government is working on a new legal framework that will open the energy market to private entrepreneurs.

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