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Maamba Collieries Limited (MCL) has launched arbitration proceedings against Zambian state power utility Zesco in London’s High Court seeking payment of $350m of arrears. MCL, majority-owned by India’s Nava Bharat Ventures, says it may be forced to shut its 300MW coal-fired power plant as mounting debt and pressure from lenders pose a serious threat to the viability of its operations.
Issue 427 - 19 November 2020
Power, Finance, Governance
Supporters of a revamped Petroleum Industry Bill (PIB) believe that, this time, the outcome for legislation to reform Nigerian National Petroleum Corporation (NNPC) and the hydrocarbons sector will be different from past disappointments, when vested interests stalled efforts to overhaul an underperforming and opaque sector. Senate president Ahmad Lawan on 29 September committed the bicameral National Assembly to pass legislation to make the industry more effective and efficient. After years of delay,“we will break that jinx and see to the passage of the bill”, Lawan promised. The Senate on 30 September approved the a 239-page draft PIB’s first reading, opening the way for more hearings.
Issue 425 - 22 October 2020
Upstream, Politics, Downstream, Governance
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