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While President Joseph Kabila Kabange has secured his political life insurance by giving stakes in eastern Congo’s sought-after Albertine Graben blocks to companies connected to South African President Jacob Zuma’s family, it is not such good news for Tullow Oil, which signed a contract for the same Lake Albert blocks 1 and 2 in 2006.
Vanoil contracts BGP for seismic; Newcomer in Karoo Basin; Maersk to decide next year on Chissonga
African Capitalisation Fund to strengthen banks; AfDB funding for IDC; AfDB awards $15m grant to aid Burundi’s ERSP III; SNR, Denton Wilde Sapte to merge
The Southern African Development Community (SADC) states have fallen in behind Eskom Holding’s efforts to make sure South Africa does not suffer the global embarrassment of a major electricity shortfall during the 11 June-11 July Fifa World Cup. Following a formal request from the South African government, President Joseph Kabila Kabange has committed state utility
The World Bank Group (WBG) on 8 April approved a controversial $3.75bn loan package for state utility Eskom Holdings, despite concerted opposition from environmental groups which persuaded several western governments – including the United States, United Kingdom and the Netherlands – to abstain from voting.
Confirmed offtake with South African buyers and improved transmission infrastructure remain key requirements for financiers if they are to back the next set of big projects proposed by the Maputo government, writes Kevin Godier
AfDB loan for refiner, Sasol contract for Foster Wheeler
The board of PetroSA has approved the next stage of development of the Coega refinery project, despite suggestions from BP that it might turn out to be an expensive white elephant.
CIC Energy Corporation has signed a memorandum of understanding with a Chinese company to develop a 300MW power station and associated mine at the Mmamabula coalfield to supply the domestic market.
MOTT MACDONALD: Merz and McLellan acquisition; SELCo: Positive trading statement
Uncertainty over the regulatory framework has slowed oil and gas exploration for several years, but with new legislation in place the pace is finally picking up, writes Thalia Griffiths, recently in Johannesburg
Jacob Zuma’s government has stuck to a conservative budget and remains committed to further reforms to the state sector, notably of the electricity industry.
For a short period on 22-24 February, Durban’s International Convention Centre became the focal point for the policy divides that are becoming ever more public as South Africa settles uneasily into Jacob Zuma’s presidency.
An imminent decision on the future funding of the state-owned power utility may force it to revisit other capital expenditure and funding agendas, writes Kevin Godier
ESKOM: Study urges asset sale; GENERAL CABLE: South Africa expansion; KENGEN: Andritz gets $52m contract; KPLC: Expected price hike; MASEN: New Moroccan solar energy chief; NUPLANET: Focus on CDMs to bring mini-hydro on stream
