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Issue 397
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Egypt: BP backs United Oil acquisition

AIM-listed United Oil & Gas has won BP’s backing for a $16m deal to buy Rockhopper Egypt Pty Ltd, which has a 22% non-operated interest in the Abu Sennan concession in the Western Desert. BP will provide a prepayment financing structure of up to $8m, and United and BP...

Egypt
Issue 397
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Egypt/Region: Energean in Edison acquisition

Mediterranean-focused Energean Oil & Gas has agreed to acquire Italy’s Edison E&P for an initial $750m. Following an initial public offering in March 2018, Energean’s strategy has been to become the leading independent, gas-focused exploration and production company...

Egypt
Issue 397
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Power-rich Egypt changes gear

On 17 July, Egypt recorded the highest consumption of electricity in its history during the strongest heatwave in 20 years. A Ministry of Electricity spokesperson said peak load at 8pm was 32GW while available power at that time was 44.8GW. With a comfortable reserve margin...

Egypt
Issue 397
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Congo-B defies sceptics to get IMF deal

President Denis Sassou Nguesso’s debt-stressed administration has finally obtained a new International Monetary Fund (IMF) facility, worth nearly $449m, despite criticism that Brazzaville has not provided sufficient detail of parallel rescheduling deals for arrears contracted...

Central Africa
Issue 397
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Cameroon: Solar plants planned for north

Sinohydro signed a memorandum of understanding (MoU) with the Ministry of Water and Energy on 11 July to carry out studies for the design, financing, construction, operation and maintenance of a 20MW solar power plant at the site of the Lagdo hydroelectric power plant in the...

Cameroon
Issue 397
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Angola: Sonangol earnings rise but production sinks

Reforming the oil and gas sector to attract investment and increase production has been a central priority of João Lourenço’s presidency. State oil and gas firm Sonangol boosted its earnings in 2018, fired by higher oil and gas export prices but serious problems face the...

Angola
Issue 397
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Cautious optimism as Angola brings in wide-ranging energy reforms

There has been material progress reforming Angola’s opaque and nepotistic energy sector over the past year. Considerable work has gone into crafting new power sector regulations, and there have been notable changes to upstream licensing and the role of state oil and gas giant...

Angola
Issue 397
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Angola’s ambitious power reform plans

As well as developing the regulatory and legislative environment, the government has produced significant planning documents to guide developments in the power sector. The overarching strategy is laid out in the 207-page Angola Energia 2025, which includes demand planning,...

Angola
Issue 397
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Algeria: Political concerns dampen upstream mood

Key upstream partners are making bullish noises about their Algerian operations, but a call by judicial authorities to reopen investigations into historic accusations of malfeasance at state energy giant Sonatrach threatens to undermine confidence (see View). Italian major...

Algeria

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