Nigeria: AMCON Considers Sale Of IBEDC
Nigeria’s Assets Management Corporation is considering the sale of Ibadan Electricity Distribution Company (IBEDC) to viable investors to make the company more efficient and responsive to the needs of Nigerians.
Gbenga Alade, the Managing Director of Assets Management Corporation of Nigeria, expressed the belief that looking for viable investors to take over IBEDC is the right way to go.
To him, since assumption of office five months ago, his outfit has tried to resolve the issues affecting the IBEDC, but the process has yet to be concluded.
Alade believes that no economy can grow and move forward without a stable power supply.
“In the power sector, we have Ibadan DisCo, which is under AMCON. We’ve tried as much as possible to get that resolved. And we’re in the process.
“We are yet to conclude the sale, but we are making very good headway in resolving Ibadan DisCo,” Alade said during an interaction with media executives in Lagos as quoted by The Punch.
Alade expressed optimism that the IBEDC would be profitable if sold, saying it covers different states, including Ogun industrial areas.
”I believe that Ibadan Disco is the largest disco that we have because it goes across so many states like Ogun, including all the industrial areas of Ogun State.
“We believe that it can be made more efficient if sold to people with deep pockets who can invest, not people who just buy and not invest. They don’t have money to invest.
“With people who have deep pockets to invest in making that company more efficient and more effective, it will go a long way to helping the power sector,” he noted.
Source: https://energynewsafrica.com
China: Former Chairman Of China National Petroleum Corp. Arrested For Bribery
The former chairman of the China National Petroleum Corporation (CNPC), Wang Yilin, has been arrested on suspicion of bribery, Xinhua reported on Wednesday, citing a statement from Supreme People’s Procuratorate (SPP).
Wang was expelled from the Communist Party of China, according to an official statement released in late July.
The case of Wang, who is also a former secretary of the leading Party members group of the CNPC, was handed over to prosecutors for examination and prosecution following the conclusion of an investigation carried out by the National Commission of Supervision, the SPP said.
Source: https://energynewsafrica.com
Russia: Atoms Empowering Africa Winners Visit Russia To See Nuclear Innovations
Twenty talented young individuals from across Africa who emerged as winners of Rosatom’s Atoms Empowering Africa competition have visited Russia to familiarise themselves with nuclear power development.
This transformative trip, organised by ROSATOM, is a part of the initiative aimed at fostering curiosity and enthusiasm for science and technology among African youth.
The competition, in this round, challenges participants to create captivating videos on the topic: ‘Benefits of Nuclear Energy in Africa’.
This year’s winners, hailing from South Africa, Nigeria, Kenya, Uganda, Egypt and Sudan have demonstrated exceptional creativity and dedication in showcasing the potential of nuclear energy on the African continent.
“This part of the competition is always the most thrilling. Seeing the excitement and wonder in the eyes of these young individuals as they explore the heart of nuclear technology in Russia is incredibly rewarding.
“It’s not just about the technical knowledge they gain, but also the cultural exchange and the inspiration they draw from experiencing a different part of the world.
“We believe that these experiences will ignite a lifelong passion for science and technology.
“As we look forward to next year’s competition, we are eager to see even more innovative and creative entries. We hope to continue expanding the reach of the competition, engaging more young minds across the African continent, and fostering a deeper understanding of the pivotal role that nuclear energy can play in sustainable development,” Ryan Collyer, CEO of Rosatom Central and Southern Africa noted.
One of the highlights of the winners’ itinerary was Obninsk City, renowned as the birthplace of the nuclear industry and Russia’s premier nuclear technology hub, which has celebrated, this year, the 70th anniversary of the launch of the world’s first nuclear power plant.
“We toured the Rosatom Technical Academy and received a first-hand tour of Russia’s first Nuclear Power Plant (NPP).
“It was truly a privilege to witness the behind-the-scenes operation of an NPP and to see the amount of effort channeled into operational safety and security at the NPPs.
“But more than that, it was a lovely drive through the beautiful city of Moscow,” Munachimso Oguine, a young participant from Nigeria, stated.
“This trip has been a life-changing experience for me. Visiting the birthplace of the nuclear industry in Obninsk and seeing the real-world applications of nuclear technology has broadened my understanding and fueled my aspirations to contribute to Africa’s energy future,” said Yasmin Ehab from Egypt.
Participants also explored the Atom Pavilion, a remarkable venue dedicated to showcasing the advancements and prospects of nuclear technology, and the Cosmos Pavilion, which offers a deep dive into the history and achievements of space exploration; both in VDNH park.
“It is very insightful to see everything, starting from history, because it leads you right through where it started in terms of nuclear energy and its application across the world, and it brings you to what it is today.
“I am grateful for the opportunity to see this; I have a little something to take with me back home,” Kamogelo Sehoole, a participant from South Africa, mentioned.
The cultural immersion continued with visits to iconic landmarks such as Red Square and the Kremlin, providing a backdrop for understanding Russia’s cultural heritage, as well as offering insights into the country’s political and historical narrative.
“This trip has been nothing short of exciting, fascinating and eye-opening. I’m especially grateful for the warm and wonderful welcome we received from the Rosatom team. They’re amazing! I can’t wait to learn and explore more of Moscow with them,” Munachimso Oguine added.
“Sharing this experience with other winners from Africa, was the most exciting part as we get to exchange a lot of life experiences and laughter,” said Ahmed Abdel Rahman from Sudan.
Since its inception in 2015, Rosatom’s Atoms Empowering Africa competition has been a driving force in empowering young individuals to delve into the realm of nuclear energy.
By encouraging African youth to explore and present the benefits of nuclear energy, the competition is not only fostering scientific curiosity but also paving the way for a sustainable energy future in Africa.
Source: https://energynewsafrica.com
Angola: Police Arrest Eleven Fuel Smugglers… Seizes Quantities Of Fuel Destined To Namibia
Angolan national police, on Monday, seized at least 2.455 liters of fuel (petrol and diesel), which were to be sold in the Republic of Namibia.
The quantities of the petroleum products were seized in Namacunde, Angola’s southern province of Cunene.
The seizure occurred in homes and on public roads, as well as fuel pumps, mainly in the border area of Santa Clara municipality of Namacunde.
Chief Superintendent Nicolau Tuvecalela, local director for communication and press for Angolan national police, explained that the fuel was packed in 25 and 200-liter drums destined for Namibia, passing through illegal routes, which constitutes a crime.
Following the anti-smuggling operation, eleven citizens were arrested, including two Namibians.
The province of Cunene shares 460 kilometers of border with Namibia, 340 of which are land and 120 on river.
Source: https://energynewsafrica.com
Ghana: Nungua ECG Applauds Customer Compliance
The Nungua District of the Electricity Company of Ghana, which operates under its Tema Region, has commended its customers for their compliance and for allowing the staff to work in comfort.
This was shared by the District Manager, Ing James Teye who was giving an overview of their revenue mobilization activity, which is currently ongoing.
There have been previous reports where some customers had prevented ECG officials from accessing the meters.
This time around, however, Ing Teye said that “there has been a generally good and welcoming stance of our customers as we are on this revenue mobilization agenda.”
He added that “as part of this activity, we are also checking on the integrity of meters to ensure they are working well.”
Ing Teye called on the customers and the public to “continue to be supportive of ECG, to enable us to work and should there be issues of staff misconduct, please inform ECG via our customer service center or on social media and the issue will be addressed.”
The ECG is currently undertaking a revenue mobilisation exercise across its operational areas as part of measures to get customers to pay for the electricity they have consumed.
Source: https://energynewsafrica.com
Russia Defuses Unexploded Munition Near Kursk Nuclear Power Plant
Russian National Guard (Rosgvardiya) troops have defused an unexploded HIMARS cluster munition near the Kursk nuclear power plant.
“Upon arrival … the Rosgvardiya officers discovered a missile fragment filled with 180 unexploded strike elements,” according to a Rosgvardiya statement on Wednesday, adding that the munition was found 5 kilometers from the Kursk plant.
Russian forces successfully neutralized the munition while observing safety measures, it said.
HIMARS is a U.S.-developed light multiple rocket launcher.
Russia and Ukraine have traded blame for endangering nuclear security since Ukraine launched an offensive into Russia’s Kursk region on Aug. 6.
Director General of the International Atomic Energy Agency Rafael Grossi visited the Kursk nuclear power plant on Tuesday.
He noted the risk of a nuclear incident in Russia’s Kursk region while adding that the plant is operating normally under the current circumstances.
Source: https://energynewsafrica.com
IAEA Director General Rafael Grossi Visits Kursk Nuclear Power Plant
The Director General of the International Atomic Energy Agency(IAEA), Rafael Grossi, on Tuesday led a delegation to the sites of the Kursk Nuclear Power Plant and the Kursk II NPP, as well as the town of Kurchatov.
The visit was organized at the invitation of Rosatom Director General Alexey Likhachev.
The IAEA delegation visited the site of the first and the second phases of the Nuclear Power Plant and assessed the plant’s operation against the background of relentless Ukrainian provocations.
Rafael Grossi was able to see that the Kursk NPP Unit 3 continues to operate at its installed capacity, and Unit 4 has been on scheduled preventive maintenance.
The design features of RBMK-type reactors were demonstrated to the IAEA Director General.
The IAEA delegation also observed the progress of the Kursk II NPP construction, which is proceeding as planned.
The IAEA Director General could witness the impact of the strikes launched by Ukraine against the industrial site of the Kursk NPP and had an opportunity to assess the nuclear safety risks posed by attacks on the facility.
The results of the visit are planned to be discussed by Alexey Likhachev and Rafael Grossi in the established interdepartmental format in Kaliningrad in the near future.
Source: https://energynewsafrica.com
QatarEnergy, KPC Sign 15-Year Agreement For LNG Supply To Kuwait
QatarEnergy has signed a 15-year LNG Sale and Purchase Agreement (SPA) with Kuwait Petroleum Corporation (KPC) for the supply of up to three million tons per annum (MTPA) of LNG to Kuwait.
Per the terms of the SPA, the contracted LNG volumes would be delivered ex-ship to Kuwait’s Al-Zour LNG Terminal onboard QatarEnergy’s conventional, Q-Flex and Q-Max LNG vessels, starting in January 2025, QatarEnergy said in a statement on Monday, August 26, 2024.
The agreement was signed during a ceremony in Kuwait City by His Excellency Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and the President and CEO of QatarEnergy, and Shaikh Nawaf Saud Al-Nasir Al-Sabah, Deputy Chairman and CEO of KPC.
“I am pleased to be in Kuwait, a country that is dear to our hearts, and to build a new long-term partnership between KPC and QatarEnergy that constitutes a central element in supporting Kuwait’s sustainability goals, particularly in the electricity generation sector,” Minister Al-Kaabi said after he welcomed the signing of the agreement.
“It also reflects our commitment to supporting the future needs of all our clients, foremost of which is KPC.
“Our bilateral relations continue to grow and achieve the aspirations and interests of our people under the wise leadership of His Highness Sheikh Tamim bin Hamad Al Thani and His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, which underlines the deep brotherly ties and the long-term partnership between Kuwait and Qatar,” he added.
This new agreement is the second long-term LNG SPA with KPC and is considered pivotal in further boosting bilateral trade between Qatar and Kuwait.
In recent months, QatarEnergy has been steadily scaling up its global LNG delivery capacity–and in June, it entered a deal with Qatar Gas Transport Company Limited (Nakilat) for the ownership and operation of nine LNG vessels, which is part of the state-owned petroleum firm’s fleet expansion strategy.
As part of the long-term agreement, Nakilat will charter and operate nine QC-Max vessels, each with a capacity of 271,000 cubic metres.
The vessels, which are part of QatarEnergy’s LNG expansion plans, will be built in China at Hudong-Zhonghua shipyards.
Source: https://energynewsafrica.com
China’s Oil Giant CNPC Looking For Acquisition Targets Overseas
China National Petroleum Corporation (CNPC) and its listed company PetroChina are looking to buy oil and gas exploration and production assets and LNG opportunities globally in what could be a revival of deal-making for the Chinese state giant after two decades.
CNPC could seek to expand its current investments in LNG in Qatar, one of the world’s biggest LNG exporters, Lu Ruquan, director of the Chinese firm’s Economics and Technology Research Institute (ETRI) who is involved in strategy discussions, told Reuters on Tuesday.
CNPC already has an agreement for a 27-year LNG supply deal from state company QatarEnergy and a 5% stake in one of the trains of the massive North Field expansion project in Qatar.
The Chinese state energy firm is also looking for opportunities to acquire deepwater acreage in South America near the giant oil discoveries offshore Guyana, Lu told Reuters.
Exxon has announced in recent years massive oil discoveries offshore Guyana in a consortium comprising another Chinese state operator, CNOOC.
Earlier this year, ExxonMobil – which currently pumps in a consortium with U.S. Hess Corporation and CNOOC of China all the crude oil that Guyana produces – announced that it plans to develop a seventh offshore oil project on the prolific Stabroek block.
Guyana expects to receive the development plan for Exxon’s seventh oil project offshore the South American country early next year, Natural Resources Minister Vickram Bharrat said earlier this month.
CNPC and PetroChina now plan to extract more oil from aging fields and face complex geopolitical realities with sanctions on Russia, Iran, and Venezuela.
According to Lu, CNPC could be faced with the highest geopolitical hurdles since it first invested outside China in the early 1990s.
CNPC and PetroChina’s international buying spree continued until the early 2000s. During that timeframe, PetroChina bought Devon Energy’s business in Indonesia, as well as assets in Kazakhstan.
Source: Oilprice.comZimbabwe: Prolonged Power Cuts Loom Amid Technical Glitch
Zimbabweans should brace themselves up for prolonged power cuts as the country’s power utility company ZESA Holdings hints of reduced electricity generation due to a technical challenge that occurred at Unit 8 of the Hwange Thermal Power Station.
As a result of this generation shortfall, the utility has had to implement increased load shedding schedules across the country in order to balance electricity supply and demand.
“Our technical teams are frantically working on resolving the fault so as to minimise the impact on customers.
“We apologise for the inconvenience and appreciate our customers’ patience and understanding during this period,” ZESA said in a statement on Tuesday, August 27, 2024.
Source: https://energynewsafrica.com
Nigeria: Oando Completes Acquisition Of Eni’s Subsidiary
Italian oil and gas giant, Eni, has announced the closing of the sale of its wholly-owned subsidiary, Nigerian Agip Oil Company Ltd (NAOC), to Oando PLC (Oando), Nigeria’s leading indigenous energy solutions provider.
Oando is listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange.
NAOC engages in onshore oil & gas exploration and production in Nigeria, as well as power generation,
The transaction, which received the approval of all relevant authorities, is in line with Eni’s strategy focused on the rationalisation of the upstream activities by rebalancing its portfolio and divesting non-strategic assets.
The five per cent participating interest in SPDC (Shell Production Development Company Joint Venture) is not included in the transaction, as it will be retained in Eni’s portfolio.
Eni will continue to be present in the Country through investment in deepwater projects and Nigeria LNG, while also exploring new opportunities related to the agri-feedstock sector.
The $783-million transaction sees Oando’s participating interests in Oil Mining Licenses (OML) 60, 61, 62 and 63 increase from 20% to 40% and its total reserves grow by almost 100% to one billion barrels of oil equivalent.
Oando’s ownership stake will also increase in NAOC’s joint venture assets, which include 40 discovered oil and gas fields – of which 24 are currently producing – 40 identified prospects and leads, 12 production stations, 1,490 km of pipelines, three gas processing plants, the Brass River Oil Terminal, the Kwale-Okpai Phase 1 & 2 power plants and associated infrastructure.
With a diverse portfolio of on- and offshore assets in Nigeria’s oil and gas sector, Oando represents one of the leading indigenous explorers on the continent.
Currently, its producing assets include Qua Iboe (OML 13) and the Ebendo Field (OML 56), in addition to the four OMLs acquired from NAOC.
The company’s promising development pipeline includes OML 90 and OML 122, which hold tremendous potential for boosting Oando’s operational capacity, while its exploration prospects center around interests in several strategic assets, including OMLs 321 and 323, as well as Blocks 5 and 12, OML 131 and OML 145.
“This announcement is the culmination of ten years of toil, resilience and an unwavering belief in the realization of our ambition since the 2014 entry into the Joint Venture via the acquisition of Conoco-Philips Nigerian Portfolio.
It is a win for Oando, and every indigenous energy player, as we take our destiny in our hands, and play a pivotal role in this next phase of the nation’s upstream evolution,” said Wale Tinubu CON, Group Chief Executive, Oando PLC.
Affirming its commitment to Africa’s energy sector growth, the company will discuss its latest acquisition and investment strategy, with a focus on integrating just transition principles and technologies and ensuring local value creation.
Boasting a number of strategic partnerships and with a focus on sustainable growth, Oando PLC is well-positioned to harness the full potential of Africa’s energy resources and create long-term value for the company’s stakeholders.
With a diverse and robust array of assets, Oando PLC has established a firm foundation for its business operations, ensuring a strong and sustainable presence in the dynamic and ever-evolving oil and gas sector.
Commenting on the deal Executive Chairman of African Energy Chamber NJ Ayuk said: “Oando is delivering on its pledge to expand upstream investments and its position in Nigeria’s oil and gas sector.
The AEC congratulates and supports Oando on the successful completion of this milestone transaction, as it affirms the influence of local exploration and production companies and their unwavering belief in harnessing the full scope of Africa’s energy resources.
“We look forward to unpacking this deal and its many implications for the sector at this year’s AEW,” he said.
Source: https://energynewsafrica.com
Colombia Reports Five Attacks On Oil Pipelines
Colombia’s state-owned oil company Ecopetrol has reported five attacks on two pipelines, adding that exports of the commodity have not been affected.
The Cano Limon-Covenas pipeline was attacked three times, Ecopetrol’s subsidiary Cenit reported, as quoted by Reuters, and the Bicentenario pipeline suffered two attacks.
It added that the Colombian army had been deployed to the area of the attacks on the Cano Limon-Covenas pipeline to protect staff who were repairing the infrastructure.
Colombia’s oil pipelines are a frequent target for guerilla groups active in the country. They are also targeted by crime groups stealing crude and using it in drug production, Reuters said in its report.
Colombia currently produces close to 800,000 barrels of oil daily but wants to increase this to over 1 million bpd.
For 2024, the target is to reach 800,000 bpd, the head of the country’s energy regulator said earlier in the year.
At the same time, the current government has ambitious plans for wind and solar growth as it seeks to reduce Colombia’s dependence on oil, gas, and coal revenues. Hydrocarbons, however, remain a major contributor to budget revenues.
Even so, the Petro government has not held any new oil and gas exploration tenders since coming into office.
State oil company Ecopetrol is contributing to the output increase through enhanced oil recovery techniques, improving extraction volumes from reservoirs.
Colombia’s current oil recovery rate averages 27 percent, energy minister Andres Camacho said in May this year.
The government is also reviewing contracts for oil exploration due to speculation, with some companies signing contracts just to resell them at higher prices without conducting any actual exploration—a practice that could stifle future oil production.
“We’re going contract by contract to see where there really are good reasons to suspend these activities and where there aren’t, to declare possible non-compliance due to negligence,” Orlando Velandia, head of the energy regulator ANH said earlier this year.
Source: Oilprice.com
State oil company Ecopetrol is contributing to the output increase through enhanced oil recovery techniques, improving extraction volumes from reservoirs.
Colombia’s current oil recovery rate averages 27 percent, energy minister Andres Camacho said in May this year.
The government is also reviewing contracts for oil exploration due to speculation, with some companies signing contracts just to resell them at higher prices without conducting any actual exploration—a practice that could stifle future oil production.
“We’re going contract by contract to see where there really are good reasons to suspend these activities and where there aren’t, to declare possible non-compliance due to negligence,” Orlando Velandia, head of the energy regulator ANH said earlier this year.
Source: Oilprice.com Russia Launches 200 Missiles At Ukrainian Energy Installations
Russia on Monday launched some 200 missiles at Ukraine, targeting energy installations, while Polish media report that Warsaw has deployed aircraft to defend Polish airspace against the onslaught, and a U.S. airbase in Germany remains on full alert in a state of preparedness.
Parts of Kyiv have been rendered without power and water, according to Reuters.
“The desire to destroy our energy sector will cost the Russians dearly for their infrastructure,” the Kyiv Post quoted Andriy Yermak, head of the Office of the President of Ukraine, as saying
According to the Kyiv Post, at least four people have been killed and authorities across the country have been forced to introduce emergency blackouts, with 15 regions targeted in one of the biggest assaults Moscow has launched in weeks in retaliation for Ukraine’s brazen ground offensive on the Russian region of Kursk.
Ukraine’s Kursk offensive has carried on now for nearly three weeks, with military authorities claiming that the advance continues.
Russian forces are now attempting to advance in Ukraine’s east, hoping to take the transport hub of Pokrovsk, according to the Kyiv Post.
Also on Monday, Ukrainian forces reportedly targeted Russia’s Engels airfield, home to military aircraft, in the Saratov region, though it remains unclear what the extent of the damage from that attack was.
The Russian Defense Ministry reported on its Telegram channel on Monday that it shot down Ukrainian UAVs over Saratov overnight, the BBC reported.
According to Ukraine’s UA wire, citing German intelligence sources, Germany has thwarted an alleged Russian plan to target a NATO air base in Geilenkirchen last week.
The base was rendered combat ready following U.S. Secret Service warnings of a potential attack last week, and then the level of preparedness was reduced after it was determined that Moscow had withdrawn its plans.
Source: Oilprice.com
According to Ukraine’s UA wire, citing German intelligence sources, Germany has thwarted an alleged Russian plan to target a NATO air base in Geilenkirchen last week.
The base was rendered combat ready following U.S. Secret Service warnings of a potential attack last week, and then the level of preparedness was reduced after it was determined that Moscow had withdrawn its plans.
Source: Oilprice.com Nigeria To Sign Off On $1.3 Billion ExxonMobil Oil And Gas Asset Sale To Seplat Energy
Nigerian regulators said they expect to formally consent to ExxonMobil’s sale of its oil and gas assets to Seplat Energy Plc within four months, ending a hiatus that has stalled the conclusion of a transaction that was first announced in February 2022.
The approval process should be completed within the 120-day legal timeframe, the Upstream Petroleum Regulatory Commission said in a statement on Monday.
Nigeria’s state oil and gas company in May said it reached an agreement that would allow ExxonMobil to proceed with the asset disposal.
Seplat, a local energy supplier, agreed to acquire them for $1.3 billion, a deal that could almost quadruple its oil output to more than 130,000 bpd.
Former President Muhammadu Buhari backed the transaction, but approval was later reversed amid objections from the regulator.
Source: Worldoil.com