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Talks are at an advanced stages for West Africa Gas Limited (WAGL) Energy, a joint venture between Nigerian National Petroleum Company (NNPC) and local conglomerate Sahara Group, to develop liquid petroleum gas supply in West Africa through the construction of jetties and other infrastructure.

Nigeria
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Mini-grid financing facility CrossBoundary Energy Access has raised a $25m senior debt facility. CrossBoundary is looking to raise $150m in total to finance a portfolio of mini-grids primarily in Democratic Republic of Congo, Kenya, Madagascar, Nigeria, Uganda and Zambia.

Kenya | DR Congo | Nigeria | Uganda | Zambia
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Panoro Energy is expected to complete the sale of its interest in Offshore Mining Lease (OML) 113 in offshore Nigeria to PetroNor E&P by 15 July, following a further two-week delay announced by the companies on 30 June.

Nigeria
Free

It is more than a whisper: international institutions and private equity (PE) investors are again exploring major hydroelectric power (HEP) deals, after years during which environmental, social and governance (ESG) concerns made big dams a problematic issue for development finance institutions (DFI) and other potential investors.

Mozambique | DR Congo | Malawi | Nigeria | Togo
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Nigerian petroleum minister Timipre Sylva has called on all parties to fast-track the African Union (AU)-endorsed Trans-Saharan Gas Pipeline (TSGP) from Nigeria to Algeria via Niger. The move follows federal government backing earlier this month for Nigerian National Petroleum Company (NNPC) to enter an agreement with the Economic Community of West African States (Ecowas) to build the ambitious Nigeria-Morocco Gas Pipeline (NMGP).

Algeria | Morocco | Nigeria
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London’s High Court ruled that JP Morgan did not breach fiduciary rules when it transferred funds stemming from the sale of the controversial oil production licence (OPL) 245. The judgement reveals further details of graft in the long-running saga, as Justice Cockerill found that the original award of the licence was probably corrupt and ex-oil minister Dan Etete had benefitted financially from it. Meanwhile, 25 years after it was first awarded, other disputes continue over the highly prospective OPL 245.

Nigeria
Free

London AIM-listed Savannah Energy has signed an agreement with TransAfam Power Ltd (TAPL) to supply gas to its power plants in Rivers State.

Nigeria
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The Abuja government has given a green light for construction of the Nigeria-Morocco Gas Pipeline (NMGP) connecting Nigeria, Morocco and at least 11 countries in between.

Nigeria | Morocco
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Copenhagen-based start-up Solstroem has received a $150,000 convertible loan from Shell’s All On to roll out its carbon credit platform to Nigerian solar home system developers.

Nigeria
Free

Nigeria and Angola are responsible for the vast majority of the Organisation of the Petroleum Exporting Countries (Opec) supply shortfall that is helping to sustain high global oil prices. Above-ground issues including theft and sabotage continue to contribute to a large deficit from the two sub-Saharan oil giants.

Angola | Nigeria | Libya | Equatorial Guinea | Congo Brazzaville | Gabon | Algeria
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Project bulletin

The Nigerian Bulk Electricity Trader (NBET) has denied local media reports in Nigeria that it had signed a power purchase agreement (PPA) with Mabon Power for 40MW from the Dadin Kowa hydropower plant.

Nigeria
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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.

Cameroon | DR Congo | Nigeria | Equatorial Guinea | Côte d'Ivoire
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A dispute over loans given to Aiteo Eastern E&P to pay for its acquisition of Nigerian oil assets from Shell in 2015 is heading for arbitration after a London court ruling. One lender warned that a default could have serious consequences for the Nigerian banking system.

Nigeria
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While the Bureau of Public Enterprises (BPE) has reported progress with plans to sell at least some of the National Integrated Power Project (NIPP) gas-fired plants, opposition to the privatisation from state governments and other lobbies continues. Nigerian government sources have told African Energy the sales process has stalled with no immediate sign of a breakthrough.

Nigeria
Subscriber

Sun King – the rebranded Greenlight Planet – has raised $260m in a funding round. The series D round attracted major private institutional investors. The fundraising was seen by some observers as a vote of confidence in the solar home system industry, which has suffered negative press in recent months over alleged sharp business practices and continues to face questions about the sustainability of business models.

Kenya | Nigeria