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.
Explorers have come and gone from Madagascar over the years, drawn in by the opportunities presented from the heavy oil deposits.
Tackling emissions has come to dominate discussions around ESG, driving concerns that progress is slipping on tackling the energy gap that continues in many African states.
Groupe Filatex is a Madagascan company that has plans to be a leading light in Africa’s renewable energy sector.
The cards have been shuffled on the global investment table and all eyes are on Africa, writes Hasnaine Yavarhoussen, CEO of Groupe Filatex.
In Africa there is an unacceptable gap between electricity supply and demand, where 600 million people still lack access to reliable energy.
Sterling Energy has completed its withdrawal from the Ambilobe block offshore Madagascar.
Sterling Energy has confirmed it plans to pull out of the Ambilobe block in Madagascan waters by July.
Exxon Mobil has ended its oil exploration in Madagascar after disappointing findings in its off-shore blocks, the Malagasy Mining and Petroleum Minister said on Friday. The U.S. company had no immediate comment. Exxon's affiliates resumed exploration in Madagascar in 2013 after a four-year pause due to a force majeure declared after the 2009 coup on the Indian Ocean island.