QatarEnergy has signed an agreement to buy a 23% working interest in a concession agreement offshore Egypt from the block’s operator Chevron, the state firm of Qatar said on Monday.
QatarEnergy will acquire 23% of the North El-Dabaa (H4) Block in the Mediterranean from Chevron, which will retain a 40% interest in the concession.
The other partners on the block are Woodside with a 27% interest and Tharwa Petroleum Company, an Egyptian state company, with a 10% interest.
The H4 Block lies about 10 kilometers (6.1 miles) offshore the Egyptian Mediterranean shore at water depths ranging between 100 and 3,000 meters (328 – 9,842 ft).
“We look forward to the drilling of the first exploration well on this block and to a successful and promising outcome,” said QatarEnergy’s president and CEO, Saad Sherida Al-Kaabi, who is also Qatar’s Minister of State for Energy Affairs.
This is yet another expansion for QatarEnergy in exploration blocks internationally.
In Egypt, where Western companies including Chevron plan more investments,, QatarEnergy signed earlier this year a farm-in agreement with ExxonMobil to acquire a 40% participating interest in two exploration blocks offshore Egypt, while Exxon as operator will retain the remaining 60% working interest.
The Qatari company is also boosting its presence in exploration hotspots such as Namibia, South Africa, and Suriname.
In March this year, TotalEnergies and QatarEnergy expanded their efforts to explore for oil and gas in the Orange Basin offshore Namibia by acquiring a nearby license in the basin in South African waters.
Following completion of the transaction, TotalEnergies will hold a 33% participating interest in Block 3B/4B and assume operatorship, while QatarEnergy will hold a 24% stake.
Then in July, QatarEnergy signed an agreement with Chevron to buy a 20% working interest in a production-sharing contract for block 5 offshore Suriname.
The operator of the block, Chevron, will retain a 40% interest, while Paradise Oil Company, an affiliate of Suriname’s national oil company Staatsolie, will own the remaining 40%.
Source: Oilprice.com
The Transmission Company of Nigeria has reported that vandals have again attacked its 330kV Lokoja–Gwagwalada transmission line 1, in the early hours of Saturday, 9th November 2024.
In a statement issued by Ndidi Mbah, Public Affairs Manager of TCN, it said the company’s engineers attempted to re-energise the 330kV Lokoja–Gwagwalada transmission line 1, but the line tripped.
“After efforts to reclose the line failed, a patrol team of TCN linesmen was dispatched to physically trace the line for faults.
“Upon inspection, they discovered that transmission towers T306, T307 and T308 along line 1 had been vandalised, disrupting bulk power transmission along the route.
“Further examination revealed that the vandals had stolen two spans of aluminium conductor from line one,” the statement said.
The Lokoja–Gwagwalada line is a double-circuit transmission line, and while TCN is still supplying bulk power through line two, efforts are underway to source replacement aluminium conductors for the two spans stolen from line one.
The rising trend of vandalism targeting transmission lines and towers has become a significant challenge, severely impacting the country’s power infrastructure and hindering the expansion and stability of the national grid.
This recent incident adds to an alarming pattern of attacks on the transmission network nationwide.
In the Gwagwalada area alone, recent acts of vandalism include the attack on the Gwagwalada–Kukuwaba–Apo transmission line on 10th December 2023, the Gwagwalada–Katampe line on February 26, 2024, and several others on that axis.
Such acts of vandalism continue to disrupt the stability and growth of Nigeria’s national grid.
“We once again appeal to members of the public, especially residents of communities hosting transmission lines and towers, to collaborate with TCN and security operatives in combating this menace.
“Vandalism of power installations is a disservice to us all and undermines efforts to strengthen the nation’s transmission system,” TCN said.
Source: https://energynewsafrica.com
The African Refiners and Distributors Association (ARDA) has demanded an immediate end to the pricing of petroleum products in US dollars by African nations to stem the weakening of local currencies and boost the continent’s economies.
The Association also asked the African countries to build integrated infrastructure to guarantee energy security that is independent of developed countries to stabilise their economies.
The President of ARDA, Dr. Mustapha Abdul-Hamid, who is also the Chief Executive Officer of Ghana’s downstream petroleum sector, National Petroleum Authority (NPA), speaking at the just ended African Energy Week in Cape Town, South Africa, also called for a halt in the export of crude oil from Africa, insisting that the continent is far from meeting its energy security amid rising population.
He argued that by reducing reliance on foreign currencies for energy transactions, African countries could better stabilise their economies, reduce energy import costs and foster long-term energy security.
Dr Abdul-Hamid stressed the need for Africa to refine and use its own resources rather than export raw crude oil only to re-import refined products.
“Nobody puts crude oil in their vehicle or airplane. Everything that generates movement and wealth is a refined product. This underlines the need for closer collaboration between Africa’s upstream and downstream sectors to ensure that the continent fully benefits from its natural resources,” he said.
Dr. Mustapha Abdul-Hamid, President of ARDA
Dr Abdul-Hamid proposed a policy harmonisation, infrastructure integration and regional currency adoption as the three-tier strategy to promote Africa’s energy independence.
He said Africa’s current fuel specifications differ greatly from one country to another, adding that it is a disparity that creates barriers to regional trade and limits cooperation.
“For example, Ghana has a fuel sulfur limit of 50 parts per million (ppm), while several West African neighbours allow levels between 1,500 and 3,000 ppm, making imports challenging and costly.
“Without a harmonised specification across Africa, trade within the continent remains difficult, restricting our ability to collaborate effectively,” Abdul-Hamid stated.
He also emphasised the importance of collaboration among regulatory bodies, national oil companies and governments to develop a unified approach to energy production and distribution.
He added that efforts like Ghana’s policy requiring companies to use locally refined fuel for oil extraction machinery strengthens domestic refinery output.
Dr. Abdul-Hamid advocated for establishing a regional currency that would mitigate the effects of Africa’s dependence on the U.S. dollar.
“Currently, oil marketers in Ghana require US$400 million each month to import refined petroleum products; a demand that constantly pressures the Ghanaian Cedi. Developing a shared currency within regional blocs like West Africa could reduce these pressures and allow us to strengthen our economies,” he suggested.
The Secretary-General of African Petroleum Producers’ Organisation (APPO), Omar Farouk Ibrahim, stressed the need to build robust infrastructure within Africa to reduce dependency on foreign markets.
He cautioned that reliance on imported resources leaves African countries vulnerable to international sanctions and supply disruptions.
“We have vast resources on our continent, yet we often depend on imports for energy. Partnering with neighbouring countries to build the necessary infrastructure can secure our energy needs,” Ibrahim said, adding that developing intra-continental infrastructure is crucial to achieving genuine energy security.
The Chief Executive of Association of Oil and Gas Marketing Companies, Dr. Riverson Oppong, highlighted Africa’s paradox of exporting raw resources while lacking refined products for domestic use.
Oppong pointed out that nearly 90 per cent of Africa’s crude production is exported.
“We have the resources, but we lack access to them because we are locked into a cycle of exporting raw materials and re-importing finished products. This cycle compromises our economic stability and weakens our energy security,” Oppong noted.
He questioned the rationale behind Africa’s continued export of crude oil only to re-import it as refined petrol, a practice he argued weakens local refineries and increases costs.
“During a recent visit to Morocco, I saw a refinery capable of processing 550,000 barrels per day, sitting idle like a ‘white elephant.’ Why are we sending our crude oil to Europe to be refined, only to bring it back to Africa at a premium?” he asked.
Oppong urged African countries to invest in domestic refining capacity and support local refineries to enhance energy self-sufficiency.
Source: https://energynewsafrica.com
Oil Marketing Companies in the Republic of Ghana have adjusted their pump prices for both petrol and diesel for the first pricing window of November, which runs from the 1st to the 16th of November 2024.
Petrol is selling between ¢13.99 and ¢14.99 per litre while diesel is sold between ¢14.99 per litre and ¢15.50.
This follows the continuous depreciation of the local currency, the cedi, against major international currencies, especially the United States dollar, and the rising cost of refined petroleum products on the international market.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
Currently, a US dollar is being exchanged for Gh¢16.50 at the Forex Bureau.
Currently, GOIL is selling petrol (Ron 91) at Gh¢14.64 per litre while petrol (Ron 95) is sold at Gh¢15.59, with diesel being sold at Gh¢15.45 per litre.
Shell is selling petrol at Gh¢14.98 per litre while diesel is sold at Gh¢15.58 per litre.
TotalEnergies is selling petrol at Gh¢14.90 while diesel is sold at Gh¢15.50 per litre.
Star Oil is selling petrol (Ron 91) at Gh¢13.99 per litre while petrol (Ron 95) is sold at Gh¢14.99, with diesel being sold at Gh¢14.99 per litre.
Petrosol Ghana is selling petrol at Gh¢14.49 while diesel is sold at Gh¢15.39 per litre.
Zen Petroleum is selling petrol at Gh¢13.65 per litre while diesel is sold at Gh¢14.04 per litre.
Cash Oil is selling petrol at Gh¢13.99 per litre while diesel is sold at Gh¢14.99 per litre.
Lucky Oil is selling petrol at Gh¢13.98 per litre while diesel is sold at Gh¢14.74 per litre.
Pacific is selling petrol at Gh¢14.39 per litre while diesel is sold at Gh¢14.79 per litre.
Engen Ghana is selling petrol at Gh¢14.50 while diesel is sold at Gh¢15.40 per litre.
Benab is selling petrol at Gh¢13.97 while diesel is sold at Gh¢14.99 per litre.
Frimps is selling petrol at Gh¢14.06 while diesel is sold at Gh¢14.26 per litre.
Allied is selling petrol at Gh¢13.99 while diesel is sold at Gh¢14.99 per litre.
Source: https://energynewsafrica.com
Nigeria’s National Petroleum Company Limited (NNPC) has dismissed reports that the company’s retail outlets in parts of the West African nation are selling adulterated Premium Motor Spirit (PMS), popularly known as petrol.
A statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., said after a viral video clip of someone pouring a dark liquid which he claimed to be Premium Motor Spirit (PMS) purportedly bought from an NNPC retail outlet at Keffi Flyover came to their attention, they investigated the issue but found the claim to be false.
The NNPC said it had carried out spot checks at all its outlets and found this claim to be false.
According to the NNPC, the product was not, and could not have been bought from any NNPC retail outlet as the company does not dispense petroleum products into bottles or jerrycans as displayed in the video.
“NNPC Retail Ltd. does not deal in adulterated products as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high-quality, safe and reliable petroleum products are available at its stations nationwide,” he said.
The company urged members of the public to discountenance the spurious claims made in the video and be wary of selfish and unpatriotic elements pushing such narrative as they do not mean well for the country.
“We take pride in maintaining accurate pump integrity with regular inspection and calibration to ensure consistency across our stations nationwide,” the company said.
Source: https://energynewsafrica.com
Ghana’s technical regulator for electricity and natural gas – Energy Commission – has commissioned west Africa’s first nearly-zero-energy building at its head office in Accra, capital of Ghana.
The classically and beautifully designed building, which generates energy by itself from solar power, was started about eighteen months ago and fully funded by the German Government at the cost of €1million.
Locally produced building materials were used, with only the air-conditioners and the lighting being the only imported items.
The nearly -zero -energy building constructed at the cost pf 1million euros.
The building uses 88 per cent of the energy it produces and plans are in place to export the unused energy to the national grid when the net metering policy is fully implemented.
Ghana is among the countries that have set 2070 to achieve net zero emissions and with the construction of the nearly-zero-energy building, this initiative will serve as a model for housing developers.
The building will serve as an Energy Academy and a dynamic hub of knowledge, poised to nurture our future energy professionals and pioneers.
Speaking at the commissioning ceremony, the Minister of State at the Energy Ministry, Herbert Krapa, in a speech read for him by Sanitation Minister Hon. Lydia Seyram Alhassan, said the facility represents a remarkable achievement and a critical step forward in Ghana’s journey towards sustainable renewable energy solutions and responsible environmental stewardship.
He said the nearly-zero-energy building is truly a ground-breaking initiative for many reasons.
According to him, it embodies our national commitment to addressing climate change and reducing carbon emissions.
“By generating as much energy as it consumes, this facility exemplifies the core principles of energy efficiency and resource conservation that our energy policy advocates. It serves as a living testament to integrating sustainable practices into every aspect of our development. Through this building, we send a clear message: we are serious about sustainability and ready to lead by example,” he said.
He underscored the need for the Commission to go beyond the theoretical foundations taught in traditional academic settings and to seize this opportunity to explore innovative technologies, engage in pioneering research, and develop solutions that will define the future of energy, not just for our country but also for the entire region and beyond.
“This Energy Building will transcend its role as an academic resource and become a true catalyst for transformative change, driving the sustainable energy solutions our world needs,” he concluded.
The Executive Secretary of the Energy Commission, Ing. Oscar Amonoo-Neizer, said the facility embodies the Commission’s mission of promoting sustainable energy practices, addressing today’s needs while safeguarding tomorrow’s resources.
He said “with this nearly-zero-energy building, we aim to reduce our carbon footprint, use renewable resources efficiently, and serve as a beacon of what can be achieved through foresight, planning, and commitment.”
According to him, the building stands as a testament to the potential of sustainable energy practices to transform the way we design, construct, and operate spaces.
He commended all the partners, including GIZ, the architects, engineers, construction workers, and all other stakeholders who contributed in one way or the other to make this model facility a reality.
Mr Tangmor Marmor, Cluster Co-ordinator, GIZ, said the facility had to inspire more change in the Ghanaian building sector.
“We are not only making…Energy Commission stronger but also we want to strengthen the entire energy sector and the building sector.
“The building sector is causing so much emissions in Ghana and the building sector is showing a way out,” he stated.
The German Ambassador to Ghana, H.E Daniel Krull, in a speech read on his behalf, said “we are confident that the nearly- zero-energy building will not only serve the daily operational needs of the Energy Commission but will also act as Centre of Education for visitors and hosting workshops on sustainable building practices.”
Source: https://energynewsafrica.com
Equatorial Guinea is open for business and investment in the oil and gas sector, Minister of Mines and Hydrocarbons, Antonio Oburu Ondo has said.
Speaking in a virtual address ahead of an Invest in Equatorial Guinea Energies Country Spotlight – sponsored by EG LNG and Marathon Oil Corporation – at African Energy Week (AEW) 2024 Minister Ondo said that the country offers a wealth of opportunity across the oil and gas sector and it is inviting foreign companies to expand their footprint across the country.
“Equatorial Guinea has embarked on a strategy to create a more enabling environment to encourage more growth in the energy sector. We concluded the review of the current Hydrocarbons Code, recruiting a top international consultant for optimization purposes,” he stated.
Oscar Vicente Garcia Berniko, General Manager of State-Owned Enterprises in Equatorial Guinea, shared further insight into the Hydrocarbons Code.
He said that “new terms provide incentives for companies to proceed with their investments. We downgraded the corporate income tax and withholding tax. But we need to go beyond. So, we have a policy of optimizing incentives with our partners. If companies face challenges, they can speak to us and we will respond.”
Adding to these remarks, Alfredo Jones, Managing Director, Alduco Engineering, said that “The government has also simplified the process of investing for companies. There are also laws protecting foreign investment, and recently, these laws have been reinforced.”
Rich in both oil and gas and strategically located along the west coast of Africa, Equatorial Guinea has seen renewed interest from global majors in its offshore acreage.
In June, Chevron signed two Production Sharing Contracts (PSCs) for offshore blocks EG-06 and EG-11, representing a total investment of $2 billion.
Scott Childres, Country Manager Equatorial Guinea, Chevron, believes that this milestone is largely due to efforts by the state to create conditions that make exploration happen.
He said, “Establishing a competitive environment is very essential. This is a continuous effort on the part of the state. We have been working closely with the state to discover the pathways for [increasing exploration.]”
Further attracting new E&P players, the Ministry of Mines and Hydrocarbons signed two PSCs last year with Africa Oil Corp. (Block EG-18 and EG-31).
Craig Knight, the company’s COO, said that “the government has been very flexible in these discussions. A lot of us are looking at how we can find gas to provide fuel for the next 15-20 years to come. There is a great opportunity in terms of the rocks and now we are looking at how we unlock these opportunities.”
The Ministry also signed a PSC with Panoro Energy for EG-01.
Panoro is currently leading a seismic reprocessing program in Block EG-01, as well as a two-well infill drilling campaign in Block EG-06, the first of which came onstream this September.
John Hamilton, CEO of Panoro Energy, stated that “We look at a country which still has so much exploration to do and still has world-class fields. Looking at Alba and Aseng, these are world-class fields. In the shallow water, you just know that there is a lot more to be found.”
For the country’s national oil company, GEPetrol, focus is on collaboration and strengthening its role as an operator. GEPetrol’s Operations Director, Manuel Ndong Edo, said that “We have been collaborating more closely with our partners. GEPetrol is more than a silent partner. We have seen good results so far with more collaboration and more communication with our partners.”
The country already represents a major producing market with ambitions to increase production and solidify its position as a regional hub. Julien Vuillemet, General Manager, Equatorial Guinea at Trident Energy, explained that “We have one upstream well that is producing and another which will come online in ten days’ time. There is still a lot of potential that can be recovered through a pragmatic approach in mature fields.”
These developments offer new opportunities for service companies. Pablo Memba Etuba, Director General of Grupo Memba Ltd (GML), said that “as a private-owned Equatorial Guinean company, there are a lot of opportunities on the services side. The Local Content Law gives us an advantage to be able to work in the country and gain access to contracts first.”
The country has also been strengthening cooperation with regional neighbors to enhance capacity at its Punta Europa LNG Terminal on Bioko Island.
Equatorial Guinea and Nigeria signed a regional gas supply deal in August 2024 to process Nigerian gas at Equatorial Guinea’s Punta Europa LNG processing facilities, ushering in a new era of West African gas trade, energy security and regional cooperation.
Ed Ubong, Coordinating Director of Nigeria’s Decade of Gas, said that “We believe that Equatorial Guinea is a critical partner. It is exciting to see this level of collaboration in Africa. The real focus is on creating inter-connected demand, this creates incentives for upstream investors to put the money in.”
Source: https://energynewsafrica.com
The Managing Director of Bulk Energy Storage and Transportation Company Limited (BEST), formerly known as BOST, Dr. Edwin Provençal, has stated that every effort must be made to ensure that the company does not return to its era of operational losses after being turned into a profit-making entity by the current management.
“Going forward, BOST should no longer be a loss-making entity,” he said while addressing a section of Ghanaian journalists at the Ministry of Information Meet-the-Press series in Accra on Wednesday, November 6, 2024.
The company, whose mandate was to keep strategic oil reserve for the West African nation, virtually collapsed prior to the appointment of Edwin Provencal in August 2019.
The company was saddled with huge indebtedness with trade liability amounting to $634 million.
However, strategic decisions by the current management have brought a turnaround, with the company now being one of the best performing state-owned enterprises.
Speaking at the press briefing, Dr. Provencal outlined several key initiatives aimed at revitalising the company, with a vision of transforming BEST into a profit-generating asset for the people of Ghana.
Mr. Provencal explained that BEST was on the brink of collapse, prompting leadership to identify urgent priorities to revive the company.
“We focused on building both infrastructure and human capital to ensure long-term growth,” he said, emphasising that growth isn’t limited to physical assets but also involves enhancing employee knowledge and skills.
“We recognised the need to invest in our workforce, improve infrastructure, and introduce new business lines,” he added.
Dr. Provencal told the press that the company had cleared 100% of the debt his regime inherited.
Source: https://energynewsafrica.com
Nigerian multinational energy company Oando is targeting a production of 100,000 barrels per day (bpd) by 2028, following its landmark acquisition of Eni’s Nigerian Agip Oil Company (NAOC) earlier this year.
The announcement, along with the company’s future expansion plans and role in Nigeria’s energy transition, was shared during an exclusive Fireside Chat at the African Energy Week.
Chief Executive Officer of Oando Alex Irune discussed the company’s plans to contribute to Nigeria’s oil production and goal of exceeding 2 million bpd.
He also highlighted the growing role of indigenous firms in the sector, particularly as international oil companies (IOCs) divest from onshore and shallow water assets.
“In the space of 24 months, you’re going to see about 60%-70% of Nigeria’s production by indigenous players, just based on the transition of IOCs to the deep offshore and the acquisitions we have seen, whether it’s Seplat, our deal or the ongoing Renaissance deal,” said Irune.
Oando is focused on maximizing the development of assets acquired through its deal, which increased its stake in OMLs 60, 61, 62 and 63 to 40% and nearly doubled its reserves to one billion barrels of oil equivalent.
The company’s ownership in NAOC’s joint venture assets will also grow, including 40 oil and gas fields, 12 production stations, and key infrastructure including pipelines, processing plants and the Brass River Oil Terminal. Oando remains open to future mergers and acquisitions across the continent.
“We’re always looking to do a deal. We stay where we have a comparative advantage, but we don’t rule out any markets. Nigeria is the first place we look – we have an immense amount of potential. As a leading energy company, we owe it to the country to reach that potential.”
Irune also discussed the role of Nigeria’s Petroleum Industry Act (PIA) in strengthening the investment case, particularly for gas in Nigeria and fostering industry synergies. The Oando-NAOC deal was the first M&A transaction following the PIA’s implementation.
Oando is leveraging the deal to boost oil and gas production, with a view to supporting Nigeria’s energy transition in the future.
“We are very serious about energy provision. When you frame the energy journey, there must be renewable energy in that basket. In the immediate term, our focus is on producing every drop of oil we can to be able to fund that transition journey. We will use gas as a transition fuel – our assets are largely gas assets as a company, and Nigeria is largely a gas province as a country.”
Source: https://energynewsafrica.com
Russian atomic energy corporation (Rosatom’s) Fuel Division, TVEL, and the South African company AllWeld Nuclear and Industrial signed a memorandum of cooperation focused on decommissioning and radioactive waste (RW) management at the ongoing African Energy Week (AEW) 2024 in Cape Town, South Africa.
The document was signed by Eduard Nikitin, Director for Decommissioning and RW Management at TVEL JSC, and Mervyn Fischer, CEO of AllWeld Nuclear and Industrial.
This memorandum outlines plans for collaborative efforts in scientific, technical and commercial activities related to the decommissioning of nuclear power plants and other facilities that pose nuclear and radiation hazards.
The key aspects of cooperation will be the development of infrastructure for radioactive waste management, including its processing, storage and disposal, as well as the design and creation of components for the equipment needed to meet the challenges in this area in South Africa.
“Rosatom possesses extensive experience and expertise in the decommissioning of nuclear facilities and radioactive waste management. This includes a wealth of references, proprietary technologies, and a comprehensive research program. Such expertise is certainly sought after in countries around the world that have nuclear power, uranium mining, or experience with operating research reactors.
The recent signing of a memorandum with South African partners marks a pivotal step in fostering collaborative efforts. This partnership is expected to pave the way for new opportunities to implement joint projects, not only within South Africa and beyond”, stated Eduard Nikitin.
Source: https://energynewsafrica.com
The African Energy Chamber, organisers of the African Energy Week (AEW) 2024 currently underway in Cape Town, South Africa, has honored 12 outstanding individuals and companies across 10 categories during a Gala Dinner on Tuesday, November 5, 2024.
These prestigious annual awards celebrate individuals and organizations making a lasting impact on Africa’s oil, gas and energy sectors, driving progress toward continent-wide energy security.
Notably, the evening’s highest honor – the Mohammed S. Barkindo Lifetime Achievement Award – was awarded to three recipients. This prestigious award recognizes a sustained, decades-long career marked by visionary leadership, groundbreaking innovation and lifelong dedication to Africa’s energy future. Below is the full list of winners for the AEW: Invest in African Energy 2024 Awards.
Mohammed S. Barkindo Lifetime Achievement Award
Benedict Oramah, President & Chairman of the Board of Directors of the African Export-Import Bank; Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers’ Organization; Nikki Martin, President and CEO of EnerGeo Alliance.
For over 30 years, Benedict Oramah has been instrumental in financing African energy projects that drive industrial growth, intra-African trade and energy access. His vision for a connected, energy-sufficient Africa has spurred foreign investment and positioned Afreximbank as a leader in financial innovation.
Under his leadership, Afreximbank launched the Africa Energy Bank this year with the African Petroleum Producers’ Organization (APPO), uniquely mobilizing funds for investments across the energy value chain, supporting transition fuels and fostering economic diversification.
Dr. Omar Farouk Ibrahim, Secretary General of APPO, has been recognized for his dedication to inclusive, collaborative and sustainable development in Africa. Under his leadership, APPO has significantly advanced the African energy sector, notably through the 2024 launch of the Africa Energy Bank. With an initial capital of $5 billion and headquartered in Abuja, Nigeria, this institution aims to improve access to financing for African oil and gas projects.
As President and CEO of EnerGeo Alliance, Nikki Martin has been instrumental in championing technology and data-driven strategies to boost exploration efficiency while enhancing environmental sustainability across Africa.
For over a decade, Martin has been a strong advocate for increased upstream investment in Africa’s energy frontiers, identifying advanced seismic surveys and data generation as key tools for minimizing project risks and uncovering future resources.
Energy Person of the Year
Meg O’Neill, CEO and Managing Director, Woodside Energy
Meg O’Neill was recognized for nearly three decades of experience in the global oil and gas industry and her unwavering commitment to ensuring a just African energy transition.
Under her leadership, Woodside Energy achieved a historic milestone with the production of first oil from its Sangomar Field Development earlier this year, ushering in a new era of hydrocarbon sector growth in Senegal. O’Neill is the first non-African to receive this award.
ESG Leader of the YearBP
BP is transitioning from an oil company to an integrated energy company focused on ESG and sustainability. It aims for a 10-15% emissions reduction by 2025, 20-30% by 2030 and net-zero by 2050. Plans include methane measurement at sites, a 50 GW renewable capacity by 2030, and support for a just energy transition in Africa through education, social investment and biodiversity, in line with the Paris Agreement.
Service Provider of the YearAfrica Global Logistics
Africa Global Logistics (AGL) is fueling economic growth across Africa through comprehensive logistics solutions, including freight forwarding, warehousing, and transportation. In 2024, AGL made strides in Africa’s energy sector with its Lobito Terminal in Angola, capable of handling over one million tons annually, and took on bulk terminal operations in Namibia’s Port of Walvis Bay. By boosting regional connectivity, AGL is essential to Africa’s logistics infrastructure and energy development.
Deal of the YearOando-NAOC
Oando PLC, a Nigerian energy company, acquired Eni’s 100% stake in the Nigerian Agip Oil Company (NAOC) for $783 million, doubling its interests in OML 60, 61, 62 and 63 to 40%. The acquisition includes 40 oil and gas fields (24 in production), 40 prospects, 12 production stations, 1,490 km of pipeline, three gas plants and key infrastructure. The deal highlights Oando’s commitment to strengthening Nigeria’s oil and gas production.
Local Content ChampionPerenco
Perenco, a leading independent oil and gas company in Africa, prioritizes local content development and believes in an energy future driven by African talent. The company hires predominantly African staff, promotes female participation, and partners with local businesses. In 2023, Perenco expanded its training programs, providing hundreds of workers with essential skills in operations, maintenance, and safety. Its Barge Training Center, active across four African countries, further supports sustainable industry growth.
Reformer and Change Maker of the YearMinistry of Mineral Resources, Oil and Gas of Angola
Since 2019, Angola’s Ministry of Mineral Resources, Oil and Gas has transformed the country into a top oil and gas investment destination through key reforms. Establishing the National Oil, Gas & Biofuels Agency allowed Sonangol to focus on operations, boosting transparency and market confidence. The ministry’s initiatives—introducing Risk Service Contracts, a permanent offer scheme, and tax incentives—have streamlined contract processes, attracting substantial investment and setting a benchmark for Africa’s producers.
E&P LeaderWoodside Energy
Woodside Energy has made a significant impact on Africa’s energy security through pioneering deepwater projects, notably achieving first oil from the Sangomar Field offshore Senegal. As Senegal’s first offshore oil development, Sangomar is set to produce 100,000 barrels daily. With 23 wells in Phase 1 and a $4.9-5.2 billion budget, Woodside’s timely, on-budget execution enhances Senegal’s investment appeal and strengthens regional energy stability.
E&P LeaderWoodside Energy
Woodside Energy has made a significant impact on Africa’s energy security through pioneering deepwater projects, notably achieving first oil from the Sangomar Field offshore Senegal. As Senegal’s first offshore oil development, Sangomar is set to produce 100,000 barrels daily. With 23 wells in Phase 1 and a $4.9-5.2 billion budget, Woodside’s timely, on-budget execution enhances Senegal’s investment appeal and strengthens regional energy stability.
Geoscience and Data Management Project of the YearTGS/PGS
Following their merger, TGS/PGS have become leaders in geoscience and data management, advancing seismic data acquisition to enhance exploration efficiency. In Africa, they offer an extensive multi-client data library, spanning from the MSGBC region to Nigeria, the West African salt basins, and Southwest Africa. Their high-resolution datasets provide crucial geological insights, helping operators reduce exploration risks. Committed to sustainability, TGS/PGS is pivotal in responsibly unlocking Africa’s hydrocarbon potential.
ExxonMobil Africa STEM ChallengeAngola
Another key award presented was the ExxonMobil STEM Challenge, celebrating the brightest young minds from Nigeria, Namibia, Angola and Mozambique. High school students from these countries showcased innovative projects and competed for top honors in science, technology, engineering and mathematics, with a team of four students representing each nation. The Angolan team won first place, followed by Namibia in second and Mozambique in third.
Source: https://energynewsafrica.com
Global oil demand is projected to reach 120.1 million barrels per day (BPD) by 2050, while energy demand will rise 24% during the same period.
OPEC Secretary General Haitham Al Ghais who said this while delivering a keynote address at the ongoing African Energy Week in Cape Town, South Africa, said African producers will play a central role in meeting rising demand.
“Demand will be fueled by a world economy that is expected to more than double in size to more than $360 trillion by 2050. Driving this economic growth is the rapidly expanding world population, expected to reach 9.7 billion from the current 8 billion.
“Urbanization globally will continue to intensify. Over 600 million people are expected to move to new cities around the world, including Africa,” he said.
Al Ghais drew insight into OPEC’s recently-launched World Oil Outlook (WOO).
Launched in September 2024, the 18th edition of the WOO featured a review and assessment of the medium-and long-term prospects for the global oil and energy sectors.
The publication offers a comprehensive analysis of global supply and demand dynamics while taking into account the interplay between energy security, energy affordability and the need to reduce emissions.
For Africa, which faces an energy crisis with over 600 million people lacking access to electricity and over 900 million people lacking access to clean cooking solutions, increasing oil and gas production is a fundamental requirement. As such, Al Ghais emphasizes the need to increase investment in oil and gas.
“Oil and gas will remain the predominant fuels in the energy mix. To ensure security of supply to fuel this demand, our industries need to invest and boost investment levels significantly in the years to come,” he explained.
However, Al Ghais pointed out that “For Africa, the future looks bright. It has an estimated 125 billion barrels of proven reserves of oil. It is vital that African countries develop these resources with access to the necessary funding and technology. This is vital for the economic and social development of the continent and its people.”
Source: https://energynewsafrica.com
Angola’s National Agency of Oil, Gas and Biofuels (ANPG) has announced a plan to award nine more concessions by the end of 2024, bringing the total to 41 since 2019, as part of its target to award 50 concessions by 2025.
Officials of ANPG disclosed this during a session on Angola’s 2025 Licensing Round at the ongoing African Energy Week in Cape Town, South Africa.
According to ANPG, there are currently 28 licensing opportunities available – including six onshore blocks, ten blocks on permanent offer, eight offshore blocks under the 2025 bidding round, and four block opportunities with discoveries.
In addition to its ambitious concession award strategy, Angola has implemented several measures to drive upstream investment.
These include enabling exploration activities beyond designated development areas, introducing new terms for marginal fields, facilitating the monetization of gas discoveries, renegotiating contract terms for mature blocks and offering new incentives to boost incremental production.
As a result, production has stabilized at around 1.1 million barrels per day, with six oil and gas majors expanding their portfolios to include five or more blocks in recent years.
Building on its gas monetization reforms, ANPG also announced that it will soon sign its first non-associated gas contract with Azule Energy.
“In Angola, investors are our number one priority. We guarantee contractual stability so you can preserve the value you have,”Hélder Iombo, Director of Negotiations at ANPG said.
“We are agile to give you concessions, flexible to give you the right terms and pragmatic in creating the right environment for investors.”
National oil company Sonangol also weighed in on efforts to reverse Angola’s declining production and attract new investments across various operations – from refining capacity to decarbonization initiatives to exploration of strategic minerals.
Sonangol highlighted its commitment to enhancing local production capacity for energy transition technologies, including panels, batteries and clean energy infrastructure.
“We are ensuring investments in crude oil and natural gas in a sustainable way, while constructing new refineries, exploring new forms of energy production and commiting to decarbonization through all our operations,” Kátia Epalanga, Executive Board Member of Sonangol said.
Source: https://energynewsafrica.com
India’s Union Ministry of New and Renewable Energy has approved 50 solar parks with a combined capacity of nearly 37.5 gigawatts (GW).
Addressing the 7th General Assembly of the International Solar Alliance (ISA), Minister Pralhad Joshi outlined India’s ambitious renewable targets, which include advancing offshore wind projects to meet a 30 GW capacity goal by 2030.
“We have approved 50 solar parks with a total capacity of nearly 37.5 GW and identified potential offshore wind energy sites to reach our 30 GW goal by 2030,” Joshi said, emphasizing India’s dedication to reshaping its energy future.
Under Prime Minister Narendra Modi’s leadership, India has set a 500 GW renewable energy target by 2030, with solar energy already crossing 90 GW in installed capacity.
The ISA, a coalition of 120 countries, aims to mobilize $1,000 billion in solar energy investments by 2030 through its “Towards 1000′ strategy, which seeks to achieve 1,000 GW of installed capacity, provide energy access to 1,000 million people, and mitigate 1,000 million tonnes of carbon dioxide emissions annually.
This international commitment aligns with India’s domestic efforts, where renewable energy projects, particularly in solar, are witnessing unprecedented growth.
“Our journey in renewables is one of vision and progress, with both domestic and international support driving significant achievements,” Joshi said, highlighting India’s recent budget allocation, which saw a 110% increase in funds for solar power projects.
New schemes like the PM-Surya Ghar Muft Bijli Yojana and tax exemptions on critical mineral imports underscore the government’s push to bolster solar infrastructure.
Additionally, India’s rooftop solar initiative, one of the most robust globally, is enabling communities to generate renewable energy directly at the household level.
Notably, India’s rural-focused PM-KUSUM scheme is transforming agricultural landscapes by enabling farmers to use solar power for irrigation and sell surplus energy, thus contributing to sustainable livelihoods.
“The PM-KUSUM scheme has been instrumental in enhancing rural energy access, and it’s helping farmers to not only irrigate their fields but also participate in the solar economy,” Joshi said.
The growth in the global solar sector has been equally remarkable, with the world expected to reach 2 terawatts of installed solar capacity by 2024.
Solar’s role in the global energy mix is rapidly expanding, as highlighted by the ISA data, which shows an investment surge from $144 billion in 2018 to an anticipated $500 billion by the end of 2024.
Source:https://energynewsafrica.com
He said the nearly-zero-energy building is truly a ground-breaking initiative for many reasons.
According to him, it embodies our national commitment to addressing climate change and reducing carbon emissions.
“By generating as much energy as it consumes, this facility exemplifies the core principles of energy efficiency and resource conservation that our energy policy advocates. It serves as a living testament to integrating sustainable practices into every aspect of our development. Through this building, we send a clear message: we are serious about sustainability and ready to lead by example,” he said.
He underscored the need for the Commission to go beyond the theoretical foundations taught in traditional academic settings and to seize this opportunity to explore innovative technologies, engage in pioneering research, and develop solutions that will define the future of energy, not just for our country but also for the entire region and beyond.
“This Energy Building will transcend its role as an academic resource and become a true catalyst for transformative change, driving the sustainable energy solutions our world needs,” he concluded.
The Executive Secretary of the Energy Commission, Ing. Oscar Amonoo-Neizer, said the facility embodies the Commission’s mission of promoting sustainable energy practices, addressing today’s needs while safeguarding tomorrow’s resources.
He said “with this nearly-zero-energy building, we aim to reduce our carbon footprint, use renewable resources efficiently, and serve as a beacon of what can be achieved through foresight, planning, and commitment.”
According to him, the building stands as a testament to the potential of sustainable energy practices to transform the way we design, construct, and operate spaces.
He commended all the partners, including GIZ, the architects, engineers, construction workers, and all other stakeholders who contributed in one way or the other to make this model facility a reality.
Mr Tangmor Marmor, Cluster Co-ordinator, GIZ, said the facility had to inspire more change in the Ghanaian building sector.
“We are not only making…Energy Commission stronger but also we want to strengthen the entire energy sector and the building sector.
“The building sector is causing so much emissions in Ghana and the building sector is showing a way out,” he stated.
The German Ambassador to Ghana, H.E Daniel Krull, in a speech read on his behalf, said “we are confident that the nearly- zero-energy building will not only serve the daily operational needs of the Energy Commission but will also act as Centre of Education for visitors and hosting workshops on sustainable building practices.”
Source: https://energynewsafrica.com 
