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The latest financial results from international oil companies revealed that 2024 was a tough year for many of them, not least because of reduced refining margins. Many of the pressures are likely to continue in 2025, although there is plenty of exploration activity to keep most of them busy, writes James Gavin.

Mozambique | Namibia | Mauritania | Nigeria | Algeria | Senegal | Côte d'Ivoire
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Solarcentury Africa and Zambia’s state-owned Industrial Development Corporation have signed an agreement to co-develop the Fig Tree commercial and industrial (C&I) power plant, for which IDC will be the primary offtaker, writes Marc Howard in Cape Town.

Botswana | Namibia | Zambia
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There will be disappointment for those talking up the Orange Basin boom, after Chevron followed Shell in announcing a dry exploration well in its first drilling offshore Namibia.

Namibia
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Industry hype over Namibia as one of the world’s hottest offshore frontiers has been tempered by Shell’s announcement that it will take a write-down on nine wells drilled within its operated PEL 39 block. Shell called the move an ‘accounting process’ – and said it still sees additional commercial opportunities in Namibia’s offshore

Namibia
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Project bulletin

South African and Namibia-based investors have raised $28m in debt to support the acquisition of the Mariental and Greenam Kokerboom solar PV plants.

Namibia
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QatarEnergy has added to its existing oil and gas holdings in two promising areas off the coast of Namibia, where the giant Venus oil discovery was made in February 2022.

Namibia
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Privately-held Impact Oil & Gas has halved its interests in deep-water blocks 2912 and 2913B – the latter containing the giant Venus discovery made in February 2022.

Namibia
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AIM-listed independent Eco (Atlantic) Oil & Gas is actively looking to farm-out stakes in its Walvis Basin offshore licences, where it hopes to monetise its long-term commitment to oil-prone blocks that it has been developing for 15 years.

Namibia
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Project bulletin

Solarcentury Africa’s financial close of the Gerus solar IPP – the Southern African Power Pool’s first pure merchant play in Namibia – will be followed by three more IPPs on the same model across the region. The milestone development points the way to a new mode of power project development provided utilities and regulators can keep up.

Botswana | Namibia | Zambia
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Uranium industry figures say African producers should benefit from the growing interest around the world in developing more nuclear power, after a long slump following the 2011 Fukushima disaster in Japan. Established producers such as Namibia – which could become the world’s second-largest producer in the next decade – Niger and Malawi are eyeing greater output, while others such as Mauritania are preparing to enter the market, writes Marc Howard.

Namibia | Mauritania | Niger | Malawi | Zambia
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A final investment decision for Australian Securities Exchange (ASX)-listed Bannerman Energy’s Etango uranium mine in Namibia is expected by end-2024. The junior’s chief executive Gavin Chamberlain told African Energy that good progress had been made on the project.

Namibia
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Project bulletin

The concessional loan from German development bank KfW has enabled the project to expand from70MWp to 100MWp, with Chinese contractors now taking on the EPC work.

Namibia
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Canada’s Africa Oil Corporation has acquired an option to buy a 7% stake in Impact Oil & Gas from existing shareholders, as it continues its efforts to increase its exposure to the Orange Basin.

Namibia | South Africa
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A mini-boom in uranium mining is underway in Africa, with investors raising debt and equity finance to advance greenfield projects and mothballed mines being brought back online. The energy transition and geopolitical imperatives have created a more favourable environment for the nuclear power sector, but political risks are especially acute when it comes to uranium, as demonstrated by recent licence withdrawals in Niger, writes Marc Howard.

Botswana | Namibia | Mauritania | Niger | Malawi | Zambia
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Despite a period of intense activity in markets such as Namibia and Nigeria, merger and acquisition deals around the continent are taking longer to get over the line, reflecting the more complex structures being adopted and the need to tap less familiar sources of funding, writes James Gavin.

Angola | Namibia | Chad | Congo Brazzaville | Gabon