Kenya: KenGen Signs Deal To Add 42MW Solar Energy To Bolster Kenya’s Green Energy
Kenya’s Electricity Generating Company (KenGen) has signed an agreement with French Development Agency (AFD) for 42.5MW of solar energy to bolster Kenya’s green energy deployment.
The project, which is expected to be completed in 28 months, seeks to install a 42.5MW solar power plant in the home of Seven Forks dams, where KenGen generates most of its hydroelectricity.
The additional capacity will not only scale up renewable energy but also cushion Kenyans against the rising cost of power as it will complement the hydroelectricity generation during the day and save water for electricity generation at night, especially during drought.
The project is the first of its kind for the NSE-listed company as it aims to deliver more renewable energy to the national grid in the wake of climate change.
The signing ceremony was attended by the Principal Secretary (PS), State Department for Energy, Alex Wachira; KenGen Managing Director and CEO, Eng. Peter Njenga; French Ambassador to Kenya HE Arnaud Suquet and AFD Country Director, Bertrand Willocquet.
“France is keen on partnering with Kenya in the deployment of renewable energy to stem climate change for which Kenya has shown its prowess as demonstrated in the Olkaria Geothermal Field and the Seven Forks area,” Willocquet said.
Speaking during the signing, PS Wachira welcomed the move, describing it as a big win for Kenya.
“The project will provide affordable, reliable, clean energy, create employment opportunities and community engagement through corporate social responsibility (CSR).
Indeed, Kenya and France have enjoyed longstanding cordial relations, especially in the energy sector, and this co-operation continues to advance our energy infrastructure for the benefit of the great people of Kenya,” he added.
KenGen Managing Director and CEO Eng. Peter Njenga described the partnership as timely, saying the company was working to scale up its renewable energy capacity by adding more electricity drawn from clean sources, moving Kenya towards a 100% green energy transition.
“As you are aware, KenGen is committed to achieving Kenya’s goal of increasing its renewable energy capacity to 100% by 2030. We have made significant progress towards this goal and our partnership with AFD has been instrumental in achieving this great milestone.
“We are now ready to develop our 42.5MW solar power project, adding more renewable energy to the national grid within 28 months,” Eng Njenga said.
“This project is going to complement hydro during the day when the intensity of the sun will be high, especially during the dry season.That way, we can conserve water for power generation, mostly at night,” he added.
Source: https://energynewsafrica.com
Ghana: Electricity Trade Security To Dominate Talks At ERERA’s 9th Regulatory Forum In Accra
The ninth Regional Electricity Regulatory Forum of the ECOWAS Regional Electricity Regulatory Authority (ERERA) will take place from July 24 to 25, 2024 in Accra, Ghana, with the theme, “Electricity Trade Security in the ECOWAS Region: the Interplay between National Policies and Free Market Principles”.
The Minister of State at Ministry of Energy, Republic of Ghana, Mr. Herbert Krapa, will set the context of the theme in his keynote address on Geopolitical Dynamics and Energy Security: Implications for the West African Region”, as he discusses the importance of electricity trade security in the ECOWAS region.
The Forum will feature presentations on free market principles in facilitating electricity trade, focusing on the relevance, benefits, and risks of implementing free market principles in West Africa, and the regulatory frameworks supporting free market principles.
This feature will also cover issues relating to ensuring the security of electricity supply in a liberalized electricity market, such as cross-border power trade and its impact on national security, as well as the role of regional cooperation in enhancing electricity supply security.
Presentations will also focus on the status of regional initiatives for developing electricity trade in ECOWAS, balancing national energy security with regional trade benefits, and technological Innovations and infrastructure development for enhanced energy security, among others.
The ninth edition of the Forum is expected to strengthen the role of key players, including national policymakers, market players, and ECOWAS institutions, in developing a regional framework for electricity trade that balances the need for the security of electricity supply of States with the principles of free market competition.
It is also expected to encourage cooperation among ECOWAS Member States to harmonize national policies and regulations related to electricity trading, as well as promote investment in cross-border electricity infrastructure to facilitate efficient trade and ensure supply security.
In addition, participants will deepen discussions on establishing mechanisms for the security of payments, dispute resolution, and enforcement of agreements related to electricity trade within the region.
Source: https://energynewsafrica.com
Nigeria: Dangote Refinery Getting Repeated Orders From Abroad–Says Founder
Africa’s largest crude oil refinery, Dangote Refinery in the Federal Republic of Nigeria, has continued to receive repeated orders for its products from all those who have purchased the same since the commencement of production, the President of Dangote Group, Aliko Dangote, has said.
The refinery has so far exported its products to some European countries, Singapore and offshore Lome.
During the weekend, the members of the House of Representatives toured both Dangote Petroleum Refinery & Petrochemicals and the Dangote Fertiliser Limited Complex.
The refinery and the downstream regulator have been trading accusations over claims of dirty fuel imports into Nigeria.
Speaking during the visit by the House of Representatives, Dangote wondered why a regulatory authority like the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which should protect local industries is castigating the latter and even lying in media reports to justify the need to continue importation of dirty fuel into the country.
“I urge you to even set up a committee that will take samples at filling stations and take our sample because I must tell you that all the test certificates people are flaunting around are fake.
“Where are the laboratories where those tests were conducted? By doing this, you will be able to tell Nigerians the very truth that they deserve to know.
“Demarketing of a company by a regulator that it is supposed to protect it, is very unfortunate.
“We didn’t know that you were going to ask us to stop by the road and take samples from other filling stations.
“I didn’t know what you wanted to do until we got here and you requested a test. It is even good that it is your members that went directly to get our samples and I am sure you were shocked by the result.
“With the result, you can see that we produce the best diesel in Nigeria,” he told the House of Representatives.
Dangote openly challenged the regulator, NMDPRA, to compare the quality of refined products from his petroleum refinery with those imported, while advocating for an impartial assessment to determine what best serves the interests of Nigerians.
“We produce the best diesel in Nigeria. It is disheartening that instead of safeguarding the market, the regulator is undermining it.
“Our doors are open for the regulator to conduct tests on our products anytime; transparency is paramount to us.
“It would be beneficial for the regulator to showcase its laboratory to the world so Nigerians can compare.
“Our interest is Nigeria first because if Nigeria doesn’t grow, we have limited capacity for growth.
“Right Honourable Speaker and esteemed members, you have witnessed the results of the credibility test.
“I appreciate your wise counsel in procuring samples from the filling stations alongside our refinery’s product. Ours shows a sulfur content of 87.6ppm, approximately 88, whereas the others exceeded 1,800ppm.
“Although the NMDPRA permits local refiners to produce diesel with sulfur content up to 650 ppm until January 2025, as approved by ECOWAS, ours is significantly lower. Next week, we aim to achieve 10ppm, aligning with the Euro V standard.
“Imported diesel is capped at 50ppm, but as you have seen, those from the stations, imported by major marketers, fall well outside this standard,” Dangote observed.
He pointed out that high-sulfur content diesel regularly imported into the country often comes with dubious certifications.
He emphasised that the most effective method to verify the quality is to purchase the product directly from filling stations and conduct credibility tests.
According to him, this issue has resulted in both health risks and financial losses for Nigerians.
“Dubious certifications often accompany the importation of high-sulfur diesel into Nigeria, causing both health risks and financial losses for Nigerians,” noted Dangote.
“The best method to verify this is to purchase the product directly from filling stations where end-users obtain it. I believe Farouk Ahmed (Chief Executive of NMDPRA) speaks without sufficient knowledge of our refinery.
“We have successfully exported diesel and jet fuel to Europe and Asia without any complaints; in fact, we have received repeated orders, indicating satisfaction with our products.”
Supporting Dangote’s assertion, Vice President of Gas and Oil at Dangote Industries Limited, Devakumar Edwin, highlighted recent actions by European countries like Belgium and The Netherlands.
“These countries have expressed concerns about the carcinogenic effects of high-sulfur diesel being dumped into the Nigerian market, prompting them to impose bans on such fuel exports to West Africa”, he said.
Mr Edwin informed the visiting Federal lawmakers that the Dangote Petroleum Refinery, designed to process a wide range of crudes including various African and Middle Eastern crudes, as well as US Light Tight Oil, conforms to Euro V specifications.
In addition, he said it is designed to comply with US EPA (United States Environmental Protection Agency), European emission norms, Department of Petroleum Resources (DPR) emission/effluent norms, and the African Refiners and Distribution Association (ARDA) standards.
Noting that products from the $20 billion facility are of high quality and meet international standards, Edwin said it can meet 100 per cent of Nigeria’s demand for petrol, diesel, kerosene and aviation Jet, with surpluses available for export.
Expressing concern over the controversy surrounding the quality of imported refined products into Nigeria, the Reps Speaker, Rt. Hon. Abass stated that the Green Chamber would establish a committee to investigate the matter thoroughly.
He emphasised that sampled products from various sources would undergo testing as part of this initiative.
The Speaker also expressed admiration for the infrastructure at the Dangote Oil Refinery, describing it as a significant asset in Nigeria’s quest for self-sufficiency in petroleum products.
He noted that the refinery has positioned itself as a pivotal player, especially at a time when global concerns over energy security and sustainability are paramount.
“Today’s visit to the magnificent facilities of Dangote Industries/Oil Refinery section has been nothing short of enlightening.
“It has afforded us a rare opportunity to witness first-hand the monumental strides that your organization has made in transforming the landscape of petroleum production in Nigeria.
“The sheer scale and sophistication of this facility are awe-inspiring; it stands as a beacon of hope for our country as we navigate through the turbulent waters of energy supply challenges,” he said.
Source: https://energynewsafrica.com
Nigeria: High Court Dismisses Manufacturers’ Suit Against NERC, Kano Disco
A Nigerian High Court has dismissed a suit filed by the Manufacturers’ Association of Nigeria (MAN), challenging the recent electricity tariff hike by Kano Electricity Distribution Company (KEDCO).
The court presided over by Justice Simon Amobeda, on Friday, July 19, 2024, said the suit lacked merit and, therefore, dismissed it without any cost.
The Nigerian Electricity Regulatory Commission (NERC), in May this year, approved the hike in electricity tariff.
However, some aggrieved electricity customers, alongside MAN, Nigeria Association of Small-Scale Industrialists (Kano State Chapter), Tofa Textile Limited, Dala Foods Nig. Ltd., Mama Sannu Ind. Ltd., BBY Super Sack Ltd. and Super Sack Co. Ltd, dragged KEDCO and NERC to court, seeking to stop the implementation of Supplementary Order on Band ‘A’ tariff increase.
However, the court held that contrary to the arguments of the plaintiffs, the April 2024 Supplementary Order was validly made under the Multi-year Tariff Order (MYTO) 2024, in compliance with the provisions of Section 116 (6), (7), (8), (9) and (10) of the Electricity Act.
The court further ruled that the plaintiff failed to produce any cogent, credible and convincing evidence before it that showed Band ‘A’ customers were treated worse than other categories, therefore, it was only justifiable that Band ‘A’ users paid more than other category of customers, being the ones entitled to more electricity supply per day; therefore, dismissed the plaintiffs’ claim that the April 2024 Supplementary Order to the MYTO 2024 was discriminatory, unlawful and unconstitutional.
Following the judgment, KEDCO called for reconciliation with the aggrieved customers for the growth of the country’s power sector.
A statement issued by Sani Bala Sani, the Head of Corporate Communication, said the KEDCO Board and Management believed that manufacturers are very important and have affirmed that they would continue to support manufacturers with improved supply and cost efficiencies in the Kano.
Source: https://energynewsafrica.com
Russia Considers Building Oil Refinery In Cuba
Russia and Cuba have discussed the idea of building an oil refinery in Cuba with the help of Russian companies, the deputy speaker of the Russian parliament was quoted as saying.
During a visit of Russian lawmakers to Cuba in recent days, the idea of a refinery construction has been discussed, Russia’s TASS news agency quoted deputy speaker Alexander Babakov as saying.
“The biggest Russian state companies could be working here,” the lawmaker said.
“Cuba has crude oil: it is logical not to import oil products but to produce them here,” TASS quoted Babakov as saying.
Russia and Cuba have held close ties since the 1950s when the Latin American country and the Soviet Union expanded ties as fellow communist states.
Cuba’s key crude oil supplier is nearby Venezuela. However, shipments have dropped in recent years, also due to Venezuela’s crumbling oil industry and the U.S. sanctions against Cuba’s staunch ally, Venezuela’s Nicolas Maduro.
The crumbling Venezuelan oil industry means that less fuel oil from the country sitting on the world’s largest oil reserves is reaching Cuban shores to power the old power plants on the island.
Cuba’s power generation is heavily dependent on oil products—according to the International Energy Agency (IEA), Cuba’s energy supply mainly comes from oil products, which account for more than 80 percent of power generation.
Mass protests erupted in Cuba in 2021, due to the crisis in Venezuela and its oil industry.
Early this year, Cuba, which has seen chronic shortages of gasoline and other fuels, said fuel prices would jump by 500% from February 1, 2024. The Cuban government can no longer manage a massive subsidy campaign that puts subsidized prices on nearly all essential goods and services.
Cuba has also imported some Russian crude since 2022. Then there was a year-long hiatus, before some Russian oil arrived in Cuba in March this year.
Source: Oilprice.com
Mali, Russia Discuss Co-operation On Nuclear Energy
The Republic of Mali has begun negotiations with Russia for the establishment of the country’s first Russian-designed nuclear power plant in the West African nation.
Aside from energy, the West African nation is negotiating with Russia for co-operation on personnel development.
A meeting was recently held between the President of the transition period of Mali, Assimi Goïta, and Rosatom on the prospects of nuclear energy development.
During the meeting, Nikolay Spassky, who is the Deputy Director-General for International Relations at Rosatom, informed the President in detail about the progress of the main co-operation projects being implemented in the country through the organisation.
Malian Minister for Economy and Finance Alousséni Sanou led the government ministerial negotiations team.
Projects in the fields of solar generation and geological exploration, in particular, were discussed in detail.
Particular attention was also given to the prospect of launching a strategic project to build a Russian-designed low-power nuclear power plant in Mali.
As a result of the negotiations, three memoranda were signed.
Documents on co-operation in the field of development of nuclear infrastructure and on forming a positive public opinion were signed with Bintou Camara, Minister of Energy and Water Resources of Mali.
Bourema Kansaye, the Minister of Higher Education and Scientific Research of Mali, signed a memorandum about co-operation in the field of personnel training.
The parties agreed to continue maintaining close contacts and periodically co-ordinate positions as joint work progresses.
Co-operation between Mali and Rosatom may be a productive step towards building a sustainable energy future in Africa.
According to the International Energy Agency, 43% of the African population, or about 600 million people, still have no access to electricity.
Source: https://energynewsafrica.com
Ghana Expands Petroleum Products Export To The Gambia, Senegal
Ghana’s petroleum downstream regulator – National Petroleum Authority (NPA) – has granted approval to some private entitiesto export petroleum products from Ghana to The Gambia and Senegal.
This adds to the existing West African countries that Ghana exports petroleum products to, notably Mali, Niger, Burkina Faso, Cote d’Ivoire and Togo.
In the year 2023, the volume of petroleum products re-exported and transited to these neighbouring countries amounted to 385,154,100 litres.
Delivering an address at the Ghana International Petroleum Conference (GhiPCon) on the theme: “The Petroleum Industry: Building a Future for Growth, Efficiency, and Sustainability”, the NPA Boss, Dr. Abdul-Hamid, said the increase in the volume of export was proof of NPA’s outstanding successes in its effort to curb illicit fuel activities in the country.
Currently, the industry has registered over 3000 service providers with high local participation, that delivers over four million metric tonnes of petroleum products annually for Ghana and beyond.
The development has positioned the industry to become a key contributor to the growth of Ghana’s gross domestic product (GDP).
“We estimate that the sector had a monetary value of over GH¢71 billion, representing about 84% of the country’s 2023 GDP.
“In the past seven years, the industry returned an average annual value of over GH¢35 billion,” he disclosed.
He said given the dynamic nature of the downstream petroleum industry, NPA was committed to using technology and innovation to remain relevant in the sub-region by formulating and implementing innovative strategies and policies that would ensure that the industry remains efficient and profitable and at the same time ensure consumers get the best value for money.
According to him, with the new transparent automatic price adjustment formula, pricing had gradually been reformed from an annual regulated price with unpaid subsidies to bi-weekly and daily regulated price.
The NPA boss stressed that the Authority had declared zero tolerance for toxic fuel and, as a result, Ghana, Kenya , Tanzania, Uganda, Morocco presently consume low sulphur fuels with typical import at less than 50 ppm, with a roadmap for local refineries to comply.
Dr. Abdul-Hamid noted that NPA had rolled out technology-based schemes and projects, such as the petroleum marking scheme, bulk road vehicle tracking project, electronic cargo tracking system, and the enterprise relational database management software, to efficiently monitor and ensure the integrity of the quality and quantity of petroleum product delivered to consumers.
Meanwhile, the Minister of Energy, who read a speech on behalf of the guest of honour, Vice-President Dr. Mahamudu Bawumia, applauded NPA for how it strategically managed the “Gold for Oil” programme, including the current Cylinder Recirculation Model (CRM), in a manner that has boosted investors’ confidence in the sector.
According to him, these efforts, coupled with a robust policy framework, have incentivised the private sector to invest more and contribute significantly towards realising Ghana’s policy target of 50% LPG penetration by 2030.
He challenged NPA to continue to invest in infrastructure, leverage cutting-edge technology, and enhance our supply chain resilience to secure our energy future.
He said “with the geopolitical tensions to technological advancements and environmental concerns, our strategies must be robust, innovative, and adaptable.”
He also gave an assurance about government’s commitment to continue to promote and explore policies that enhance Ghanaian content, support capacity building, and create opportunities for the Ghanaian people.
This, he believes, can guarantee that the benefits of our resources are widely shared, while ensuring the development of our local workforce and businesses.
Source: https://energynewsafrica.com
Nigeria: Dangote Refinery Not Licensed Yet -Petroleum Downstream Regulator
Africa’s largest crude oil refinery Dangote Refinery has not been licensed yet, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said.
According to the regulator, the refinery was still at the pre-commissioning stage.
The Chief Executive Officer, CEO, of NMDPRA, Farouk Ahmed, disclosed this on Thursday when he responded to reports of alleged sabotaged of the Dangote refinery.
He expressed concerns over the consistency and standardization of the refinery’s output.
He noted that products coming from Dangote refinery are inferior compared to the imported products.
“Well, just like you rightly asked, there are lots of concerns about the supply of petroleum products nationwide and the claims by some media houses that we were trying to scuttle the Dangote refinery; that is not so.
“Dangote refinery is still in the pre-commissioning stage. It has not been licensed yet. We have not licensed them yet,” he said.
According to him, the demand for the Dangote refinery cannot be met by the authorities at this time hence it could lead to energy insecurity and market monopoly.
He said: “So we can not rely heavily on one refinery to feed the nation because Dangote is requesting that we should suspend or stop all importation of petroleum products, especially automotive gas oil (AGO) or jet kero, and direct all marketers to the refinery.
“Dangote refinery as well as some major refineries like Waltersmith refinery, produce between 650 to 1200 ppm. So, in terms of quality, their quality is much more inferior to the imported quality,” Mr Ahmed added.
Source: https://energynewsafrica.com
Turkey, Niger Agree To Enhance Energy, Defence Cooperation
Turkey and Niger agreed to boost cooperation on energy, mining, intelligence and defence, after the West African nation asked Western military personnel to leave and terminated the mining contracts of many Western countries.
Turkey’s Foreign Minister Hakan Fidan, along with Defence Minister Yasar Guler, Energy Minister Alparslan Bayraktar and head of the MIT intelligence agency Ibrahim Kalin visited Niger’s capital Niamey on Wednesday.
As well as their ministerial counterparts, the Turkish delegation met with Niger’s leader General Abdourahmane Tiani, who took power in July last year after the military council he leads ousted President Mohamed Bazoum and shifted the country’s allegiances.
The junta kicked out French troops and ordered the U.S. to withdraw its military personnel from the country. It also severed security pacts with the European Union.
The Turkish ministers’ visit to Niamey comes two months after Niger’s Prime Minister Ali Mahaman Lamine Zeine met with Turkish President Tayyip Erdogan in Ankara.
On Wednesday, Turkish and Niger officials discussed improving cooperation in defence intelligence, Fidan told reporters after their talks.
A Turkish defence ministry official said on Thursday that Guler discussed ways to enhance cooperation between Turkey and Niger in defence and military training.
The two countries signed a declaration of will to support and encourage Turkish companies to improve oil and natural gas fields in Niger, Turkey’s energy ministry said on Wednesday.
Niger has Africa’s highest-grade uranium ores and it is also the world’s seventh-biggest producer of uranium.
But Ankara is not seeking to buy uranium from Niger for its first nuclear power plant being built by Russia’s Rosatom at Akkuyu in Turkey’s Mediterranean region, a Turkish diplomatic source said.
Source: Reuters
Two Oil Tankers Are On Fire After Colliding In International Waters
Two large oil tankers, including one known to have carried oil from Iran and Venezuela, were on fire near Singapore early on Friday, according to Singaporean authorities which said that all crew on both vessels are accounted for.
The Maritime and Port Authority of Singapore (MPA) said it was alerted in the early morning local time on Friday to a fire onboard both a Singapore-flagged tanker, Hafnia Nile, and a São Tomé and Príncipe-flagged tanker, Ceres I, about 55 km (34 miles) northeast of Pedra Branca within Singapore’s Maritime Search and Rescue Region.
Singaporean authorities dispatched a helicopter to assist with evacuating the crews. There were a total of 22 crew onboard Hafnia Nile and 40 crew onboard Ceres I, and all the crew are accounted for, Singapore’s MPA said.
Navigation in the area has not been affected, but authorities are on alert to assist in case of oil spills.
According to TankerTracker.com, Hafnia Nile, a Panamax-sized tanker carrying oil, had knocked into the starboard bow of the empty dark fleet VLCC called CERES I in the international waters of the Riau archipelago on Friday morning, based on the tanker-tracking firm’s readings of AIS positioning data.
The tanker Ceres I is known to have shipped Iranian crude oil and Venezuelan oil to China in recent years, shipping sources told Reuters.
Ceres I was most recently known for carrying Iranian oil in March and April, per vessel-tracking data cited by Reuters.
The protection and indemnity (P&I) insurer of the tanker, built in 2001, is unknown, according to data compiled by Bloomberg.
The use of old tankers with unknown insurers is a typical characteristic of the tankers in the so-called dark fleet, or shadow fleet, engaged in trade with Iranian, Venezuelan, and Russian oil to circumvent Western sanctions.
Russia’s shadow fleet has caused more than 50 maritime accidents, insurer Allianz SE said earlier this year.
Source: Oilprice.com
Ghana: VRA Commences ISO Certification Journey
The Volta River Authority (VRA), managers of Akomsobo and Kpong Hydroelectric Power Dams has embarked on a significant journey towards operational excellence and standardization by signing a contract with Stendard, a globally recognized regulatory consultancy and technology company from Singapore.
The partnership, which will see VRA aligning its operations with a suite of ISO (International Organization for Standardization) certifications, marks a major milestone in the Authority’s commitment to quality, safety, environmental sustainability, and information security.
The agreement focuses on the implementation of four key ISO standards, namely: ISO 45001 (Occupational Health & Safety Management Systems), ISO 9001 (Quality Management System), ISO 14001 (Environmental Management System), and ISO 27001 (Information Security Management System).
The Chief Executive of VRA, Mr. Antwi-Darkwa, in his address which was read on his behalf by the Deputy Chief Executive (Engineering & Operations), Ing. Edward Obeng-Kenzo, highlighted the importance of the partnership in enhancing the VRA’s operational framework.
“The VRA ISO Certification and Standardisation project is not just about compliance; it is about improving our internal processes, enhancing quality control measures, and ultimately, delivering better power services to our stakeholders.
“This project will promote a safe working environment for all our employees and ensure that we manage and protect sensitive information systematically and in a secure manner”, he noted.
The Chief Executive Officer of Stendard, Mr. Jason Lim, expressed his enthusiasm for the partnership, noting, “We are honored to work with VRA in their pursuit of excellence.
Our expertise in ISO standard implementation will support VRA in achieving their goals and setting a benchmark for the energy sector in Ghana.”
The project, which underscores VRA’s dedication to continuous improvement, will be rolled out in phases, with Stendard providing comprehensive training and support to VRA staff to ensure successful implementation and certification.
The ISO 45001 standard will help VRA enhance its occupational health and safety management, ensuring a safer working environment for its employees.
The ISO 9001 standard will streamline VRA’s quality management processes, leading to improved service delivery and customer satisfaction.
With the implementation of ISO 14001, VRA aims to strengthen its environmental management efforts, minimizing its ecological footprint.
Finally, the ISO 27001 standard will bolster the Authority’s information security management, safeguarding critical data and infrastructure against potential threats.
Source: https://energynewsafrica.com
Prime Minister Of Albania Edi Rama Meets Eni CEO Claudio Descalzi
The Chief Executive Officer of Eni, Claudio Descalzi, met the Vice Prime Minister and Minister of Infrastructure and Energy of the Republic of Albania Belinda Balluku in Tirana, to discuss the progress of Eni’s activities in the Country, as well as possible future cooperation.
Subsequently, the two attended a meeting with the Prime Minister of the Republic of Albania, Edi Rama.
Descalzi updated the Prime Minister on Eni’s exploration activities in the country, as well as new areas of activity related to the energy transition, namely the production of agri feedstock for bio-refining, to be developed on degraded lands.
Eni has been present in Albania in the early 90s and has returned in 2019.
Source: https://energynewsafrica.com
Trinidad’s Court Upholds ConocoPhillips’ Claim Against Venezuela
Trinidad and Tobago’s High Court has reaffirmed its decision to recognize U.S. oil giant ConocoPhillips’ arbitration claim against Venezuela.
This ruling, which could potentially freeze Trinidad’s payments to Venezuela for joint natural gas projects, marks a significant development in the ongoing dispute over expropriations of oil Conoco’s oil assets by the Venezuelan government.
In May, the court’s original decision allowed ConocoPhillips to enforce a $1.33 billion claim against Venezuela by targeting compensation from joint energy ventures.
Despite Venezuela and its state-owned oil company PDVSA failing to respond by the court’s deadline, the ruling stands, opening the door for ConocoPhillips to pursue assets or payments in Trinidad.
Judge Frank Seepersad emphasized the potential impact of this ruling, stating, “The order gives the claimant a green light to enforce the judgment in Trinidad if they can establish there are assets held by the defendants or money owed to the defendant by entities in Trinidad and Tobago.”
PDVSA had previously paid ConocoPhillips about $700 million as part of a settlement agreement, but it stopped making its requisite payments in late 2019.
Since then, ConocoPhillips has spend considerable time attempting to enforce arbitration rulings against Venezuela in various Caribbean nations.
This pursuit is part of a broader effort to recoup losses from Venezuela’s nationalization of foreign-owned assets years ago.
In the United States, ConocoPhillips is among the top creditors pursuing proceeds from an auction of shares in PDVSA’s subsidiary, PDV Holding, which owns Houston-based refiner Citgo.
The reaffirmed court decision in Trinidad comes amid ongoing negotiations involving Trinidad, Venezuela, and major energy companies such as NGC, Shell, and BP.
These negotiations aim to develop offshore gas fields shared by Trinidad and Venezuela.
As part of these projects, Trinidadian entities are expected to pay PDVSA and Venezuela bonds for access to gas reserves, further complicating the financial dynamics.
Source: https://energynewsafrica.com
Nigeria: Renewable Energy Sector Attracts $2Bn Investment– Tinubu
Nigeria’s renewable energy sector has attracted over $2 billion in investment making it a fast-growing sector in West African nation’s economy.
This was disclosed by President Bola Ahmed Tinubu in a speech read for him on Wednesday during the opening session of the African Natural Resources & Energy Investment Summit, 2024, held at the State House Conference Centre, Abuja.
Represented by the Vice-President Kashim Shettima, Tinubu reiterated the commitment of his administration to continue to attract more private sector involvement in the renewable energy space.
He said, “In leveraging opportunities in the renewable energy space, Nigeria has attracted over $2 billion in investment in the renewable energy sector, making it a fast-growing sector in the economy.
” Our commitment is to continue this trajectory and attract more private sector involvement in the renewable energy space, including manufacturing locally produced solar panels and batteries.”
He, however, emphasised that discussions on the energy transition must also include the significance of the petroleum industry as a cornerstone of the nation’s economy.
“While we strive to embrace renewable and cleaner energy sources, we acknowledge that oil and gas continue to play a vital role in our energy and economic landscape,” he stated.
He highlighted strategic priorities in the sector to include the goal to attract more investment in the oil and gas industry; grow oil production to 2.1 million barrels a day by December 2024.
” This is with a view to improving investment in midstream and downstream infrastructure; tackle theft; and hold developers accountable for the highest environmental standards,”the president said..
Tinubu further restated the administration’s commitment to manage resources responsibly, minimising their ecological footprint and maximising their benefits for the nation.
Earlier, the Minister of Solid Minerals Development, Dr Dele Alake, said the government was implementing some reforms to create a more attractive environment for investors, with a focus on enhancing transparency, regulatory clarity, and investor confidence.
The plan, he explained, encompasses several key areas, including policy reforms, sustainable practices, infrastructure development, and human capital enhancement.
” These initiatives are designed to address longstanding challenges in the sector and unlock the full potential of Nigeria’s vast mineral resources.
” This summit represents a significant milestone in our collective journey toward addressing Africa’s vast natural resources and sustainable economic development,” Alake said.
Dignitaries at the summit included Sen. Mohammed Sani (APC-Niger East), the Minister of State for Environment, Dr. Ishaq Salako; Minister of State for Steel Development, Mr Uba Ahmadu, and Permanent Secretary in the Ministry of Solid Minerals Development, Dr Mary Ogbe.
Source: https://energynewsafrica.com