Search results

Libya’s oil sector governance is under fire as never before, with Presidential Council head Mohammed Al-Menfi asking National Oil Corporation to explain its multi-billion-dollar spending over the past two years. With oil production flatlining and gas production at risk of severe decline, Libya needs new field developments, but two of its biggest projects have become mired in allegations of corruption. With potential ramifications for all those operating across a range of sectors in Libya, African Energy has been investigating these issues and more for a series of articles based on extensive source enquiries and documentary evidence.

IFC and the Italian Climate Fund are investing in Eni’s project to increase biofuel feedstock production and processing in Kenya.

Benin’s President Patrice Talon has allowed the temporary lifting of the inaugural cargo from the Niger-Benin Export Pipeline, after his 8 May bombshell announcement that Cotonou would not allow exports until Niamey reopened its side of the border, write Virgile Ahissou in Cotonou and Marc Howard.

Ener-G-Africa has officially launched a biomass stove and cookware factory in Paarl, near Cape Town, giving impetus to efforts to promote green cooking in Africa.

Ahead of his expected late June re-election, President Mohammed Ahmed El Ghazouani is presiding over a potentially fast-changing Mauritania that can expect new revenues from its joint GTA gas field with Senegal and potentially more long-term investment plays that exploit its minerals reserves, P2X potential and route to the sea, write Marc Howard, Waly Dione Faye and Jon Marks.

President Patrice Talon’s sudden announcement that Benin would block the lifting of oil cargoes from the Niger-Benin Export Pipeline was a shock move that may be remedied swiftly but nevertheless point to continuing pressures on Niamey, since the military regime opted to end alliances with the US and France in favour of Russia and special friend China, write Marc Howard and Virgile Ahissou

President Mohammed Ould Cheikh Mohammed Ahmed El Ghazouani’s meeting with Algerian President Abdelmajid Tebboune on 22 February, at the airport in Tindouf, south-western Algeria, was replete with symbolism. Not only did the leaders formally inaugurate fixed border posts on the 460km bilateral frontier, a roster of projects were announced that signal of a wider intensification of relations. Some of these schemes could help Algeria to outflank its bitter regional rival Morocco by increasing its business further south.

While apparently much-increased institutional appetite to support independent transmission projects and power pools is to be welcomed, participants at African Energy’s  AIX: Energy in Transition meeting heard that a much greater volume and variety of financing models were urgently required to support the roll-out of transmission infrastructure around Africa, to support domestic investments and cross-border interconnections.

The unveiling of a new gold-backed currency has been met with a sceptical reception, reflecting a lack of public confidence and issues around non-convertibility the authorities will have to overcome if the ZiG is to avoid the fate of the Zimbabwe’s other monetary failures over the past two decades, writes Tonderayi Mukeredzi in Harare.

There are signs of progress on two multi-billion dollar asset sales to local players by international majors which, coupled with sector reforms unveiled in March and a new licensing round launched in late April, may give rise to guarded optimism in the upstream sector, despite perennial issues around security and theft, writes James Gavin.

A number of reports point to the cash-strapped government of South Sudan agreeing to borrow up to $12.8bn from a Dubai-based company owned by a junior member of Abu Dhabi’s ruling family, with the debt to be repaid in discounted oil shipments over 20 years. But with plenty of calls on South Sudan’s dwindling oil income, and ever more junior sheikhs turning up with African mega-deals, questions are mounting about what could be, in an ideal world, a transformational deal.

Dubai Sheikh Mohammed Bin Maktoum Al-Maktoum’s Alpha MBM Investments has aligned with Abu Dhabi-based Venom Blockchain to develop central bank digital currencies and stablecoins in Uganda, Somalia and CAR, as the ambitious junior member of Dubai’s ruling family and interests in Abu Dhabi move further into African business.

Operator Kosmos Energy has set a new goal for first gas production at Senegal’s offshore Yakaar-Teranga (Y-T) field, where a shakeout in equity is expected to give state company Petrosen a bigger role. Meanwhile a source has told African Energy that any renegotiation of contract terms for the Sangomar development is expected to be initiated after the 100,000 b/d field starts first production.

Mauritania’s government has signed a memorandum of understanding (MoU) with Saudi Arabia to co-operate in the electricity, renewable energy and clean hydrogen sectors.

New Senegalese President Bassirou Diomaye Faye pointedly opted for Nouakchott as the destination for his first official foreign trip, ending a long tradition of starting in France and underlining his Pastef party’s pan-African agenda. Investors will be watching closely as discussions with Mauritanian President Mohammed Ghazouani centred around the potential for renegotiating the joint Greater Tortue Ahmeyim LNG development’s terms, writes Waly Dione Faye.