Nigeria: UTM Offshore To Take Final Investment Decision On $5bn FLNG Project In Q3 2025

Nigeria-based UTM Offshore Limited, which is planning to construct the country’s first Floating Liquefied Natural Gas Facility, says it will make the Final Investment Decision (FID) for the $5 billion project by the third quarter of 2025. The company had planned to make the announcement at the end of 2024 but pushed it to this year. The firm has already completed engineering studies, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has also approved the construction. The Managing Director and Group CEO of UTM Offshore Limited, Julius Rone, disclosed the new date to this portal when reached on the phone after leading a delegation to meet the Group Chief Executive Officer of NNPC Ltd. During the meeting with NNPC Ltd, discussions focused on the 1.8 million tonnes per annum Floating Liquefied Natural Gas project, with emphasis on finalizing project execution. The Group Chief Executive Officer of NNPC Ltd highlighted the need to speed up the Final Investment Decision (FID). According to a recent agreement signed with NNPC Ltd, NNPC Ltd will own 20%, while the Delta State Investment Development will hold 8%, with the remaining 72% share reserved for UTM Offshore.         Source: https://energynewsafrica.com

Iran’s Options Against Foreign Aggression Include Closing Strait Of Hormuz, Lawmaker Says

Iran could shut the Strait of Hormuz as a way of hitting back against its enemies, a senior lawmaker said on Thursday, though a second member of parliament said this would only happen if Tehran’s vital interests were endangered. Iran has in the past threatened to close the Strait of Hormuz to traffic in retaliation for Western pressure, and shipping sources said on Wednesday that commercial ships were avoiding Iran’s waters around the strait. “Iran has numerous options to respond to its enemies and uses such options based on what the situation is,” the semi-official Mehr news agency quoted Behnam Saeedi, a member of the parliament’s National Security Committee presidium as saying. “Closing the Strait of Hormuz is one of the potential options for Iran,” he said. Mehr later quoted another lawmaker, Ali Yazdikhah, as saying Iran would continue to allow free shipping in the Strait and in the Gulf so long as its vital national interests were not at risk. “If the United States officially and operationally enters the war in support of the Zionists (Israel), it is the legitimate right of Iran in view of pressuring the U.S. and Western countries to disrupt their oil trade’s ease of transit,” Yazdikhah said. President Donald Trump is keeping the world guessing about whether the United States will join Israel’s bombardment of Iranian nuclear sites. Tehran has so far refrained from closing the Strait because all regional states and many other countries benefit from it, Yazdikhah added. “It is better than no country supports Israel to confront Iran. Iran’s enemies know well that we have tens of ways to make the Strait of Hormuz unsafe and this option is feasible for us,” the parliamentarian said. The Strait of Hormuz lies between Oman and Iran and is the primary export route for Gulf producers such as Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait. About 20% of the world’s daily oil consumption — around 18 million barrels — passes through the Strait of Hormuz, which is only about 33 km (21 miles) wide at its narrowest point.           Source: Oilprice.com

TotalEnergies And QatarEnergy Win Exploration Rights In Algeria’s Ahara Block

French multinational oil and gas company TotalEnergies, jointly with QatarEnergy, has been granted a license to explore the Ahara oil block after a successful 2024 Licensing Bid Round. The Ahara license covers a large area of approximately 14,900 km², located at the intersection of the prolific Berkine and Illizi Basins. TotalEnergies will serve as the operator during the exploration and appraisal phases of this license with a 24.5% effective interest, the same share as QatarEnergy (24.5%). The national company, SONATRACH, will retain a majority interest of 51%, in accordance with Algerian law. “TotalEnergies is delighted that its joint bid with QatarEnergy has led to the award of the Ahara license, allowing us to write a new chapter in our long-lasting partnership with SONATRACH in exploration in Algeria,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.     Source: https://energynewsafrica.com

Chinese Firm Secures Key Gas Block In Algeria

Zhongman Petroleum and Natural Gas Group (ZPEC), an independent Shanghai-listed Chinese oil and gas company, has won a licensing contract to explore a natural gas block in central Algeria, the firm has said.

Algeria’s National Agency for the Valorization of Hydrocarbon Resources, ALNAFT, has awarded the Chinese firm an exploration contract for the Zerafa II gas block. ZPEC won the block in competition with French supermajor TotalEnergies and a consortium of two other European oil firms, Italian Eni and Norway’s Equinor, the Chinese company said, as quoted by Reuters.
The Zerafa II block is in the southern part of Algeria’s main gas-bearing basin, Gourara-Timimoun. In the same Algerian tender, TotalEnergies and QatarEnergy have secured the Ahara oil and gas license in the country’s first licensing round under a new hydrocarbons law issued in December 2019. The Ahara block spans nearly 14,900 square kilometers at the junction of the Berkine and Illizi basins. The award marks a strategic expansion for both firms in North Africa. TotalEnergies will operate during the exploration and appraisal phases with a 24.5% interest, mirrored by QatarEnergy. Algeria’s national oil company, Sonatrach, holds the majority 51% stake, as required by law. “We are delighted to be awarded the Ahara Block, which marks our first entry into Algeria’s upstream sector and further and expands our footprint in Africa,” QatarEnergy’s president and chief executive officer, Saad Sherida Al-Kaabi, said. Algeria, which joined OPEC in 1969, produces around 900,000 barrels per day (bpd) of crude oil currently. The North African producer is part of the OPEC+ agreement looking to manage oil supply to the market. In recent months, Algeria has been vying to monetize its natural gas resources, especially in exports to Europe, which now has to do without much of the pipeline Russian gas it was consuming before 2022.         Source: Oilprice.com

Ghana: GOIL PLC Records Gh¢84M Profit In 2024 Despite Challenges

GOIL PLC, Ghana’s largest indigenous petroleum downstream player, posted a net profit after tax of GH¢84,698,000 in 2024, representing a 54.82% increase over the previous year’s net profit of GH¢54,706,000. In 2024, the group generated revenue of GH¢19,348,106,000 compared to GH¢20,606,778,000 in 2023 and paid a dividend per share of 0.056 to shareholders. Despite making a huge profit after tax, shareholders at the company’s 56th Annual General Meeting in Accra on Thursday voted to maintain the 2023 dividend per share of 0.056 for the year 2024. Addressing the shareholders, Board Chairman of GOIL PLC Nana Philip Archer highlighted the challenges Ghana’s economy faced in 2024. He mentioned inflationary pressure and exchange rate instability leading to inflation closing the year at 20.4 per cent and cedi depreciating by 19 per cent against the US dollar. Despite these challenges, Nana Archer said the company was able to navigate through the storms and made profit due to prudent financial management, strategic marketing and operational efficiency. He noted that though operating costs increased by 11.12 per cent and finance costs by 20.25 per cent, they were offset by strong revenue generation and disciplined asset management. He reported that the company’s total consolidated assets grew by 20.1 per cent to GH¢4.8 billion. Looking ahead, Nana Archer said the company would expand its LPG bottling plants in Tema and Kumasi to 1,200 metric tons to advance the LPG Cylinder Recirculation Model policy. He added that the company would also deepen market penetration in the aviation and mining sectors, including auto gas segment, and continue with the business automation processes.     Source: https://energynewsafrica.com

Strait Of Hormuz Tensions Drive 60% Surge In Tanker Rates

Tanker rates for the route via the Strait of Hormuz have doubled since Israel started bombing Iran last Friday, the Financial Times has reported, citing shipowners growing reluctance to sail through the chokepoint.

The daily rate for a very large crude carrier chartered from the Gulf of China, for instance, has jumped from $19,998 last Thursday to over $47,600 this week, the publication noted, citing figures from Clarksons Research, a maritime analysis provider. The insurance sector is responding to the situation as well, raising premiums for vessels traversing the Strait of Hormuz by as much as 60%, the FT again reported this week. With the new prices, the insurance of a $100-million ship has jumped from $125,000 to $200,000, the FT said. “We’ve not yet seen a missile fired at a ship in the Arabian Gulf, so what it represents is the market saying, look, there’s definitely a heightened level of concern about the safety of shipping in the region,” the global head of marine and cargo insurance at Marsh McLennan, Marcus Baker, told the FT. Other media reported that insurance for tankers specifically had jumped considerably, too. Safety4Sea cited figures from Xclusiv Shipbrokers showing that the insurance rate per barrel of crude carried by a VLCC from Ras Tanura in eastern Saudi Arabia to Ningbo in eastern China had gone up from $0.25 per barrel last Thursday to some $0.70-0.80 a day later. “Tehran cannot close Hormuz without crippling itself: the new Jask outlet east of the strait has loaded under 300,000 bpd and ran for only a month last year, while almost all of Iran’s 1.7-1.8 mbpd of exports—chiefly to China—still sail from Kharg,” Zclusiv Shipbrokers said. Even so, a closure of the strait remains a possibility despite the potential for an adverse impact on Iranian exports.         Source: Oilprice.com

Ghana: BOST Welcomes Kalibi Sporting Club Volleyball Team After Tournament In Burkina Faso

The Bulk Energy Storage and Transportation (BEST) Company Limited, formerly BOST, on Tuesday, received the leadership of the Kalibi Sporting Club Volleyball team at its head office in Accra, the capital of Ghana. The team represented Ghana in a recent tournament in Ouagadougou, Burkina Faso. The team was received by the Managing Director of BEST, Mr Afetsi Awoonor, and a few management staff. Briefing the Managing Director of BEST, the founder of Kalibi Sporting Club Volleyball Team, Mr Bernard Mornah, said they returned to express appreciation to BOST for the financial support which facilitated their transportation to Burkina Faso to participate in the recent tournament. He said his team participated in the Greater Accra Volleyball league which they won to represent Ghana in the All Africa Games in Ouagadougou. Mr Mornah said raising funds for the trip became a challenge and called on BOST at the last hour. Despite reaching out to BOST at the eleventh hour, Mr Mornah said through the MD’s determination, they (team) received financial support to be able to travel to Ouagadougou to participate in the tournament. Mr Mornah said inspite of bad officiating and language barriers, since most of the participation teams were from French-speaking countries, his team put up spirited performance and won medals. On his part, Mr Afetsi Awoonor commended the team for their resilience despite bad officiating and charged them to remain strong and focused. He reaffirmed the commitment of BOST to the team. Mr Bernard Mornah presented report of their participation in the tournament including how they expended the donation from BOST.             Source: https://energynewsafrica.com

Ghana: Vivo Energy MD Urges Customers To Reduce Plastic Use On World Environment Day

In an effort to raise awareness about the harmful impact of plastic waste on the environment, the Managing Director of Vivo Energy Ghana (Shell Licensee), Mr. Christian Li, has encouraged customers to adopt more sustainable habits in their daily lives. This call to action was made during a customer engagement activity at the Airport Shell service station in Accra, held in commemoration of World Environment Day. During the event, Mr. Li, together with employees of Vivo Energy Ghana, distributed branded eco-friendly reusable glass bottles to customers. The initiative aimed to encourage the reduction of single-use plastics and highlight the importance of making environmentally responsible choices. Speaking directly to customers at the forecourt, Mr. Li said: “Our purpose here today is together – with you to make a conscious decision to reduce the plastic use, starting with this reusable bottle. Let it be a symbol of our commitment to protecting our environment. Together, through small daily actions, we can create a lasting impact and build a cleaner, greener Ghana for future generations.” This initiative formed part of Vivo Energy Ghana’s broader environmental campaign, which seeks to educate the public on the dangers of plastic pollution and promote simple, practical solutions that individuals can adopt. The reusable bottles, distributed freely to valued customers, served as a reminder of the importance of reducing plastic waste. Mr. Li also highlighted the urgency of addressing environmental degradation, noting that plastic pollution is a growing issue. He emphasised that collective effort is essential in reversing the damage already done and protecting the country’s natural resources for future generations. Employees of Vivo Energy Ghana who participated in the exercise also took time to interact with customers, sharing tips on sustainable living and encouraging them to adopt environmentally friendly habits such as recycling, reusing containers, and avoiding single-use plastics where possible. The activity was well received by customers, many of whom praised Vivo Energy Ghana for its leadership in environmental advocacy and its practical approach to sustainability. This year’s World Environment Day was celebrated globally under the theme “Beat Plastic Pollution,” a call that aligns closely with Vivo Energy’s sustainability agenda. The reusable bottle distribution is one of several initiatives Vivo Energy Ghana has launched in support of the United Nations Sustainable Development Goals, particularly Goal 12: Responsible Consumption and Production and Goal 13: Climate Action.     Source: https://energynewsafrica.com

Ghana: Alhaji Hudu Yahaya Appointed NPA Board Chairman

A former Board Chairman of Bulk Energy Storage and Transportation (BEST) Company Limited (formerly BOST), Alhaji Huudu Yahaya Iddrisu, has been appointed as Chairman of the newly constituted Board of the National Petroleum Authority (NPA), the petroleum downstream regulator. Alhaji Huudu Yahaya served as Chairman of the Board of Directors of BOST between 2009 and 2012. He is also a former Member of Parliament for the then Gushiegu/Karaga Constituency in the Northern Region. A prominent figure in the PNDC-NDC tradition, Alhaji Huudu Yahaya has served as the Deputy Regional Secretary and Regional Secretary for the Northern Region. He has also held key ministerial positions, including Minister for Mobilisation and Social Welfare and Minister of Trade and Tourism. Currently, he serves as the Secretary to the Council of Elders of the National Democratic Congress (NDC).         Source: https://energynewsafrica.com

South Africa: Africa Must Work Together To Solve Energy Challenge – Ramokgopa

South Africa will continue to work with other African countries in its efforts to achieve an effective energy transition, Minister for Electricity and Energy Dr. Kgosientsho Ramokgopa pledged during a speech at the ongoing Africa Energy Forum in Cape Town. Addressing participants on the theme “Africa United,” Ramokgopa emphasized the urgent need for the African continent to work together to solve energy challenges, including electricity. “We will continue to work with the AU, African member states, and development partners to drive a programmatic response and financing instruments to address these structural challenges.” “Let us begin with the most elementary truth: electricity is not a luxury; it is a fundamental basic human right,” Ramokgopa stated. “It is the oxygen of economic activity, the lifeblood of industrialization, and the foundation of dignity in the 21st century. Yet today, 600 million of our brothers and sisters remain in the dark.” The Minister emphasized the need to develop an energy transition that is inclusive and based on the socio-economic conditions of the African continent’s people. Ramokgopa told delegates that it’s time for Africa to create its own energy solutions instead of relying on developed countries. “We must pursue energy transition pathways that reflect our national and continental context and development priorities,” Ramokgopa said. “Any transition must be just, inclusive, and grounded in the realities of our socio-economic landscape. It must enable industrialization, support job creation, ensure food security and energy security, and align with the broader objectives of the Sustainable Development Goals (SDGs).”   Source: https://energynewsafrica.com

Ghana: Energy Minister Charges New NPA Board To Ensure Fairness And Safeguard Consumer Interest

The Minister for Energy and Green Transition, Hon. John Abdulai Jinapor, has inaugurated the newly constituted board of the National Petroleum Authority (NPA) with a call on them to ensure fair competition among service providers and consistent availability of quality petroleum products at fair prices. According to the Minister, the petroleum downstream sector is essential to national development, making effective regulation non-negotiable. “Given the complexity of operations and the wide range of service providers involved, the regulator must be vigilant, proactive, and transparent.” The Minister highlighted the sector’s vulnerability to global price fluctuations and malpractices such as smuggling, fuel adulteration, tax evasion, and dumping, emphasizing the need for constant oversight and active stakeholder engagement. Hon. Jinapor acknowledged the progress made by the NPA in developing regulatory and compliance systems to address sector challenges. He tasked the new Board to intensify efforts in dealing with issues like fuel dumping and illicit practices through strengthened enforcement measures. “As a Board, your role is central to shaping the future of the NPA and Ghana’s petroleum downstream industry,” he said. “You are expected to enhance institutional governance, promote transparency, ensure fair competition, and foster Ghanaian content and participation.” The Minister announced the recent submission of the report by the Petroleum Downstream Sector Reforms Committee (PDSRC), which was inaugurated on March 14, 2025. He assured that the Ministry would review the recommendations carefully, working closely with the NPA and industry stakeholders. Urging the new Board to serve with professionalism and dedication, Hon. Jinapor emphasized the importance of embracing innovation and leveraging technology to adapt to changing market dynamics. He reaffirmed the government’s commitment to building a robust, efficient, and investment-friendly downstream petroleum sector. The Chairman of the newly inaugurated Board, Alhaji Huudu Yahya Iddrisu, expressed gratitude for the confidence reposed in the members. “On behalf of my colleagues, I thank the President for appointing us to serve on the NPA Board. We are committed to ensuring the sector operates efficiently and effectively.” The members of the NPA Board include, Alhaji. Hudu Yahaya Iddrissu (Chairman), Mr. Elom L. Lardi Glawu, Dr. Clement Osei-Amodo, Mr. Godwin Tameklo (CEO of NPA), Sanja Anita Morrison Esq., Linda N. Ogebdei Quao Esq., and Hon. Philis Naa Koryoo Okuror.   Source: https://energynewsafrica.com

Zambia: Energy Ministry Partners With Acura Logistics And Baker Global Capital Africa To Develop 50MW Solar Project In Eastern Province

Zambia’s Ministry of Energy is partnering with Zambian firm Accura Logistics and Baker Global Capital Africa to deploy 50 megawatts (MW) of solar power across 209 public institutions in Eastern Province. The partnership, which is under the Presidential Solar Initiative—a flagship program championed by President Hakainde Hichilema—aims to expand access to clean, affordable, and reliable energy, particularly in underserved areas. The initiative targets the addition of 1,000 MW of solar energy to Zambia’s national grid by 2025. Energy Minister Mr. Makozo Chikote, during the signing of the partnership agreement, noted that the agreement reflected the government’s strong commitment to delivering practical results in the energy sector. He noted that the solar installations would benefit essential public institutions, including schools and hospitals, enhancing service delivery and improving the quality of life for communities in Eastern Province. Mr. Chikote emphasized that the partnership between a local Zambian company and a global financial institution was a clear sign of growing investor confidence in Zambia’s economy. He credited this to the stable, transparent, and accountable leadership of President Hichilema and the UPND Government, which has undertaken wide-ranging reforms to create a more predictable and investor-friendly environment. The Ministry of Energy, he assured, remains fully committed to supporting the success of this and all other projects under the Presidential Solar Initiative through streamlined regulatory processes, coordinated oversight, and clear policy direction. Mr. Douglas Baker, Global Capital Africa Founder and Principal Officer, said his firm was proud to be contributing to long-term solutions for Zambia’s electricity deficit. He expressed a strong commitment to delivering high-quality solar energy solutions that directly benefit the Zambian people and support the country’s development goals. Accura Logistics Chief Executive Officer Mr. Chola Katai thanked the government for its continued support to local investors, saying the enabling policy environment had made it possible for Zambian businesses to participate meaningfully in national development. Mr. Chikote concluded by urging more private sector and development partners to invest in Zambia’s growing renewable energy sector. He reaffirmed that Zambia is open for business and is building an inclusive, clean-energy economy focused on the needs and aspirations of the people.   Source: https://energynewsafrica.com

Ghana: ECG Disconnects Ghana Water Company Ltd’s Head Office From National Grid Over GH¢1bn Debt

The Electricity Company of Ghana (ECG) on Tuesday disconnected Ghana Water Company Limited (GWCL) from the national power grid over an outstanding debt of GH¢999.6 million. The action is part of ECG’s ongoing nationwide revenue mobilization exercise to recover huge sums of money owed to them by their customers. The exercise, which started on Monday, covers all categories of customers. The Electricity Company of Ghana (ECG) issued a 48-hour ultimatum to GWCL to settle its outstanding debt or risk an extended disconnection of power supply to its main pumping stations, which are crucial for nationwide water distribution. An official of ECG told this portal that if GWCL fails to settle its debt, they will be compelled to move to their district offices and disconnect them from the national grid. Shortly after visiting GWCL, the ECG task force proceeded to the premises of the Ghana Broadcasting Corporation (GBC), which was disconnected over an outstanding debt of GH¢8 million. According to ECG, GBC failed to comply with a structured payment plan previously agreed upon, necessitating the disconnection.   Source: https://energynewsafrica.com

Russia’s Rosatom Wins Bid To Build Kazakhstan’s First Nuclear Power Plant

Russia’s state atomic energy corporation, Rosatom, has been selected after a rigorous process by Kazakhstan’s Atomic Energy Agency to build the country’s first nuclear power plant. Rosatom was selected as the preferred bidder with its VVER-1200 reactors, beating China National Nuclear Corporation (CNNC) with its HPR-1000, France’s EDF with its EPR1200, and Korea Hydro & Nuclear Power (KHNP) with its APR-1000/APR-1400. In a statement announcing the result, Kazakhstan’s Atomic Energy Agency said: “The listed companies submitted a comprehensive package of materials consisting of technical and commercial proposals for the construction of a nuclear power plant in Kazakhstan. These materials included the following information: estimated construction cost, project implementation deadlines, financing models, methods of localisation of equipment and construction works, recommendations for the development of personnel training and scientific and educational potential, opportunities for integration in the nuclear fuel cycle, and issues of social obligations.” The assessment was carried out based on a methodology developed by the Atomic Energy Agency, Kazakhstan Nuclear Power Plants LLP, and French engineering company Assystem. The evaluation considered the areas highlighted in the statement’s list of materials, as well as nuclear power plant safety and international experience. The analysis was then submitted to the Interdepartmental Commission on the Development of the Atomic Industry. “It was determined that the most optimal and effective proposals for the construction of a nuclear power plant in Kazakhstan came from the Russian company Rosatom,” with second place taken by CNNC and third place by EDF and KHNP, the agency statement said. “Thus, Rosatom was identified as the leader of the international consortium for the project to build the first nuclear power plant in Kazakhstan.” Discussions are now taking place on state export funding from the Russian Federation based on the proposals submitted by Rosatom. In a separate statement, Rosatom’s Director General Alexei Likhachev said: “We welcome Kazakhstan’s decision to begin implementing the nuclear power plant construction project. VVER-1200 generation 3+ reactors combine time-tested engineering solutions with the latest active and passive protection systems developed in strict compliance with international safety standards. VVER-1200 reactors are already operating in Russia and abroad – four units in Russia and two units in Belarus, and this technology has also been chosen by our partners in Hungary, Egypt, Turkey, Bangladesh, and China. There is still a lot of work ahead, and we sincerely count on the help and support of the leadership of Russia and Kazakhstan.” The Atomic Energy Agency of Kazakhstan stated that it would “continue to work with foreign partners to form an effective international consortium to build the country’s first nuclear power plant.” Agency chairman Almasadam Satkaliyev added: “All prequalified participants included in the shortlist have their own unique technologies. It is planned to sign a separate agreement with the People’s Republic of China on cooperation in the nuclear sector. We want to use Chinese technologies to build another nuclear power plant in Kazakhstan… In general, there are not many countries in the world that can implement a full nuclear cycle on their own. China has the necessary technologies and an industrial and production base. Therefore, our next main priority is cooperation with China.” “We have agreements at the highest level. We are interested in adopting Chinese experience, and we understand that they can carry out construction quickly and qualitatively. We have already started work in this direction.”           Source: https://energynewsafrica.com