Exxon, Shell are said to weigh bids for Galp Namibia stake
Exxon Mobil Corp. and Shell Plc are among energy giants evaluating bids for a stake in Galp Energia SGPS SA’s major oil field offshore Namibia, according to people familiar with the matter.
Africa
Former North Sea FPSO Voyageur Spirit set for Africa redeployment
A former North Sea floating production storage and offloading (FPSO) vessel owned by Altera Infrastructure is set to be redeployed to Africa as part of a 15-year agreement.
Parametric insurance and renewable pathways in Africa
Parametric insurance addresses these challenges by enhancing investment certainty and facilitating cash flow, whilst protecting against the broadest range of potential perils.
Singapore oil tanker missing after pirates board Off Africa
A Singapore-registered oil tanker is missing after it was boarded earlier this week off the coast of Africa in what authorities are calling an act of piracy.
Africa to take centre stage for FLNG plans
Africa will “dominate” new floating LNG (FLNG) projects in the period to 2027, adding 10.2 million tonnes per year of capacity, according to a note from Westwood Global Energy Group.
ESG “noose is tightening” on E&P funding, as UniCredit targets cuts
Bracewell’s managing partner in London Jason Fox said this was not new “but the noose is tightening quickly and ESG is the headwind. It’s not just the E that’s biting but also the G, for governance, with banks increasingly retreating from emerging markets because of additional risks, particularly concerns around corruption.”
Yellen encourages Africa to take advantage of cheap Russian fuel
Treasury has estimated it could “result in around $6 billion in annual savings for the 17 largest net oil-importing African countries. We are seeing examples of emerging markets saving even more by using the price cap to negotiate steeper discounts with Russia. And we encourage more countries to do the same.”
Woodside production guidance lower than expected on delays
Woodside Energy’s (ASX:WDS) latest production guidance for 2023 has fallen short given delays at new oil projects in West Africa and the US, as well as a maintenance shutdown at the Pluto LNG export complex in Australia.
Europe’s gas needs a “risk” to Africa’s long-term power demand
Europe’s desire to replace Russian gas with African supplies risks slowing investments into renewables, warns a new report from Think Research and Advisory.
African countries face “economic devastation” from climate hit to GDP
African countries face "economic devastation" from climate change, an aid agency has warned as it reveals the scale of the hit from rising temperatures on the continent.
Poorer nations face unrest as wealthy countries snap up fuel
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation.
India’s ONGC Videsh, Indian Oil weigh stake in Tullow’s $3bn Kenya project
ONGC Videsh and Indian Oil Corp are in talks to acquire a stake in Tullow Oil Plc’s $3.4 billion project in Kenya, according to people with knowledge of the matter.
Fuelling Africa’s green transition
Recent world events have shone light on the vital role that energy plays in societies throughout the world. Whilst western powers are dealing with what is rapidly turning out to be one of the worst energy crises ever experienced, poorer nations across the world are increasingly suffering the detrimental costs of climate change, the consequence of the exploitation of fossil fuels and unsustainable industrial practices.
EnerMech lands £107m worth of new contracts in Africa, Middle East and Caspian
EnerMech is today announcing new contracts worth a total of more than £107 million for work in Africa, the Middle East and Caspian region.
McKinsey warns of African shortfall amid energy transition risks
The energy transition is throwing up particular challenges for Africa, not least in terms of access to the skills and capital needed to meet future demand.
Africa’s petroleum exploration hot spot – find out about Angola’s latest bidding round at CAPE VIII
The Angolan National Oil, Gas and Biofuels Agency (ANPG) on April 5 opened a tender for eight oil blocks in the Lower Congo and Kwanza offshore basins.
Stranded asset risk in Africa on the rise
Investments in Africa’s oil and gas risk undermining a move to lower carbon energy sources and are at risk of becoming stranded assets, according to a new report.
UK flies the clean energy flag, despite African calls for gas support
The UK has set out its hopes to increase trade links with Africa, not least in the energy sector, although divisions continue over quite how policies should be pursued.
Fugro goes autonomous in operations and maintenance
Fugro is transforming its business through a shift to remote and autonomous vessels, with the aim of accelerating decision making – while also cutting emissions.
Let’s not repeat the mistakes of the past in Africa’s energy transition
Africa has suffered in the past as a result of European ambitions and this must not be repeated as the world works out how best to tackle climate change, participants at an Aberdeen University event said.
UK missing power opportunities on transition requirements
The UK’s decision to restrict export funding for overseas energy projects is harming the country’s own suppliers, while not having an impact on hydrocarbon use.
BP traders lost $100 Million in 2015 Africa deals ‘debacle’
BP traders lost $100 million in a “debacle” of a deal with a West African commodities firm, according to details from a London employment lawsuit that offers a rare glimpse into the business on the oil giant’s trading floor.
Ex-BP oil trader says he was fired over Nigeria bribe concerns
BP fired an ex-oil trader because he voiced concerns about bribes being paid in Nigeria to secure local contracts, according to a sprawling London employment suit that sheds light on the energy giant’s lucrative trading floor.
Petronas mulls oil divestments as government seeks bigger payouts
Malaysia’s national energy company Petronas is considering selling some of its oil assets to bolster its finances as the federal government seeks a bigger dividend and to help streamline its business for the energy transition. Overseas assets in Africa, Middle East and Southeast Asia could be put up for sale.
Aberdeen oil and gas security firm bags gong at prestigious ex-forces award ceremony
A north-east firm that specialises in oil and gas security services is toasting success after one of its bosses picked up a prestigious award.