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Nasdaq- and London Stock Exchange-listed Golar LNG said on 8 February that it would acquire New York-headquartered New Fortress Energy (NFE)’s stake in the floating liquefied natural gas (FLNG) vessel Hilli Episeyo. Golar will purchase NFE’s 50% interest in Hilli Episeyo’s trains one and two in return for $100m in cash and the 4.1m NFE shares it holds. The transaction is scheduled to close in Q1 2023.

Not long after the strategically important Memvé’élé hydroelectric power (HEP) dam was said to have achieved its full 211MW operational capacity – having added 131MW to the existing 80MW unit – low water levels have meant the plant is providing much reduced supply to seven of Cameroon’s ten regions.

A source familiar with the project told African Energy the Memve’ele hydroelectric power plant has achieved full operational capacity.

AIM-listed Savannah Energy has taken over ExxonMobil’s stakes in the Doba oil project and Chad-Cameroon pipeline, but its plans to expand further in Chad have been undermined by the opposition of Mahamat Idriss Déby Itno’s transitional government to its acquisition of Malaysian national oil company Petronas’s 35% stakes in the projects. Authorities in N’Djamena blamed regional anti-trust laws, but the developments may also reflect volatile Sahel polities, writes Marc Howard.

Glencore received the ‘highest ever fines and costs ordered in a British corporate criminal conviction’, the UK’s Serious Fraud Office said after a London court found the resources giant guilty of graft – in Cameroon, Côte d’Ivoire and Nigeria – and of ‘failures to prevent bribery’ in Equatorial Guinea and South Sudan in 2011-14. Chastened once more after its practises were reported in eye-watering legal detail, Glencore has embarked on “an extensive programme of corporate reform”.

State-owned Electricity Development Corporation chairman Mengot Arrey has said installation of the first turbine at the Lom Pangar hydroelectric power (HEP) plant is now underway.

London AIM-listed Savannah Energy has said its acquisition of ExxonMobil and Petronas’ upstream and midstream assets in Chad and Cameroon is on track to be completed by year-end.

Parastatal Société Nationale de Raffinage (Sonara) has agreed to restructure its debt with Dutch energy and commodity trading house Vitol. Sonara is the sole importer of refined products into Cameroon. It also has an 80% stake in, and operates the country’s only refinery, Limbe.

The Nachtigal hydroelectric power plant has reached 70% completion, it was reported following a mid-September visit to Prime Minister Joseph Dion Ngute by World Bank Group regional director for West and Central Africa infrastructure Franz Drees-Gross.

The 211MW Memve’ele hydroelectric power (HEP) project is expected to operate at full capacity by end-October.

Golar LNG has announced that the offtakers for its floating liquefied natural gas (FLNG) vessel Hilli Episeyo “have elected to exercise” 0.2m t/yr “production volumes from 2023 to July 2026”. This will see Hilli’s 1.4m t/yr production continue for the next three years, Golar said in a 27 July statement.

London AIM-listed Tower Resources is looking to move forward with drilling at its Njonji oil discovery in Cameroon’s Rio Del Rey Basin, having sealed a funding package worth more than $7m in late June.

French independent Perenco has signed a conditional agreement to acquire the stake in Cameroon’s long-delayed Etinde gas concession held by operator New Age (African Global Energy). Others involved say the development could at last lead to a final investment decision.

Construction work on a 225kV transmission line connecting Nyambizan and Yaoundé, which will evacuate power from the 211MW Memve’ele hydroelectric power plant, is nearing completion. Work has suffered delays due to the process of compensating host communities in the path of the project.

Commodity giant Glencore has pleaded guilty and agreed to pay the US authorities almost $1.2bn to end investigations into bribery and market manipulation. The settlement was part of a coordinated resolution with criminal and civil authorities in the US, UK, and Brazil announced on 24 May.