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Issue 374 - 27 July 2018

Ghana: Tullow pays up

Subscriber

Tullow Oil has opted not to appeal against a court ruling in favour of Seadrill Ghana Operations Limited over the early termination of the West Leo rig contract and has paid the $248m awarded by the court. At the same time, a panel of arbitrators at the International Chamber of Commerce has ruled in favour of Kosmos Energy Ghana in relation to its dispute with Tullow over its share of the liability for costs related to the West Leo rig beyond 1 October 2016.

Ghana
Subscriber

Authorities in Portugal are investigating accusations of tax fraud and money laundering against three Angolan officials close to President José Eduardo dos Santos. Those involved are minister of state General Hélder Vieira Dias, known as Kopelipa, his adviser Leopoldino Nascimento, and vice-president Manuel Vicente, often cited as a potential successor to dos Santos.

Angola
Subscriber

Wentworth Resources has opted to relinquish the onshore Tembo Block in the Rovuma Basin where it had been seeking a partner to appraise the 2014 Tembo-1 gas discovery. The company said in October that a re-evaluation of the Tembo discovery had indicated that it was unlikely to be commercial. Insecurity in the region forced the company to suspend activities earlier this year and in June the National Petroleum Institute granted a one-year extension to its appraisal licence.

Mozambique
Issue 239 - 20 September 2012

Botswana/South Africa: Coal deal

Free

A bilateral energy agreement signed by presidents Ian Khama and Jacob Zuma on 31 August has been greeted with a mixed reaction. The agreement is intended to lead to the export of coal from Botswana to South Africa.

Botswana | South Africa
Issue 196 - 22 October 2010

Gas and oil capacity-building project

Subscriber

The World Bank is considering $42m of funding for a capacity-building project in the nascent gas and oil sector.

Ghana
Issue 149 - 31 October 2008

AfDB funds Tema thermal plant

Subscriber

The African Development Bank has approved a $32m private sector loan to finance Gecad’s 126MW thermal power plant at Tema

Ghana
Subscriber

Markets are warming to coal and other investments that can contribute to resolving southern Africa’s power crisis.

South Africa
Subscriber

The latest round of UN climate talks was a triumph for its Moroccan hosts and provided an opportunity to show that a majority of global opinion backs efforts to counter global warming despite climate change denier Donald Trump’s victory in the US presidential election. Trump’s 8 November win sent a chill wind over the 22nd session of the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP22) meeting.

Subscriber

India’s Bharat Heavy Electricals Ltd (BHEL) has commissioned the 500MW Kosti thermal power station, comprising four 125MW units fuelled using crude oil imported from South Sudan. BHEL was the engineering, procurement and construction contractor, and designed, supplied and installed the entire plant with associated civil works. All major equipment was manufactured in-house by BHEL. Funding was provided via a $350m line of credit from the Export-Import Bank of India. The plant is BHEL’s largest oil-fuelled power plant outside India, and follows the inauguration of its 28MW Nyabarongo hydroelectric power plant in Rwanda and 40MW cogeneration facility at the Tendaho sugar factory in Ethiopia.

Sudan
Subscriber

The Rural Electrification Agency (REA) has issued a general procurement notice for the Nigeria Electrification Project, which is funded by the African Development Bank. The project has four components and bid documents are expected to be issued in April. Component one will support private sector solar hybrid mini-grids in areas with high economic growth potential through a minimum subsidy tender. The work specifically targets 105,000 households and 20,000 businesses. Some 15 mini-grid operators are likely to be procured.

Nigeria
Subscriber

The Ministry of Electricity and Renewable Energy is launching its 2035 energy strategy amid continuing angst and recrimination over the failure of the first round of the wind and solar feed-in tariff (FiT) programme and doubts over the commercial viability of the tariffs announced for the second round. But while the risks taken by the authorities and private sector developers have not paid off so far, the size and importance of the market means that many investors have not given up hope.

Egypt
Issue 189 - 25 June 2010

Gecol seeks help from UNDP

Subscriber

Gecol chairman Belgasem Mohamed Younis and UNDP resident representative Costanza Farina signed an agreement on 16 June to improve the electricity company’s management and systems

Libya
Issue 300 - 14 May 2015

Bowleven: Tabetando quits board

Free

Following completion of a farm-out to NewAge (African Global Energy), Euroil chairman Chief Ndieb-Nso George Tabetando has stepped down from the board of former Etinde operator Bowleven, along with general counsel Peter Wilson. Tabetando, a lawyer and traditional chief from South West Region, founded Euroil in 1995, and the company was awarded the Etinde permit in 1998. Euroil became part of Bowleven in 2001.

Free

Eskom announced on 9 October that Unit II of its 4,764MW Medupi coal power plant has been synchronised to the grid, eight months ahead of schedule. The unit supplied its first power to the grid on 7 October 2018, generating 400MW. Unit II is the fifth of the six Medupi units to be synchronised. During the testing and optimisation phase, which will last several months, it will deliver power intermittently as it ramps up to the full 794MW capacity.

South Africa
Issue 260 - 09 August 2013

Tunisia: Circle Oil expands


Subscriber

Circle Oil has expanded its acreage in Tunisia, raising its stake in the offshore Mahdia licence and farming into the Beni Khaled permit. Circle has agreed to acquire a 30% stake in Mahdia for $3m, increasing its holding to 100%. Broker Investec said the acquisition underlined Circle’s confidence in the El Medouini prospect, where a well is planned for H1 2014.

Tunisia