Tag: AFRICAN ENERGY CHAMBER
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Ghana: Springfield E&P, Afreximbank Sign US$750 Million Credit Facility
Ghanaian upstream oil and gas player, Springfield E&P, has signed a US$750 million facility with African Export-Import Bank (Afreximbank). The credit facility is expected to enable the company to invest massively in its operations. The deal was signed by officials of the company and the bank on Tuesday at the just-ended Afreximbank 30th Annual General…
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The Outlook For African Oil In 2023 Is Promising (Opinion)
By: NJ Ayuk Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated demand for crude oil, and African exports dropped sharply. That’s why — though many African states are still feeling the wounds inflicted by COVID — I find it encouraging to learn that Africa’s liquids supply…
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Opinion: Independent Oil Companies Becoming Increasingly Larger Presence In Africa’s Oil And Gas Industry
By: NJ Ayuk, Executive Chairman, African Energy Chamber It took less than 20 years for Somoil to become one of Angola’s largest private oil companies, but the company is hardly resting on its laurels. Somoil, like many independents operating in Africa today, is moving forward with ambitious plans for continued growth. Based on its…
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Expecting Great Things From Africa’s New Oil and Gas Economies In 2023 (Article)
By: NJ Ayuk, Chairman, African Energy Chamber While the consensus opinion of the western elites may be that oil and gas is a dirty, outdated technology staggering on its last legs, the African Energy Chamber remains grounded in reality. As proponents of a zero-carbon future tout the promises of solar, wind, geothermal, and hydropower –…
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South Africa: Technip Energies, NAMCOR Sign MoU To Develop Namibia’s Oil And Gas Discoveries
Nambia’s national oil company, NAMCOR, has signed a Memorandum of Understanding (MoU) with Technip Energies, a French engineering and technology company, for the development of Namibia’s oil and gas discoveries made recently by Shell and TotalEnergies. The MoU was signed on the second day of the ongoing African Energy Week 2022 in Cape Town, South…
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South Africa: Ugandan President H.E. Yoweri Museveni To Deliver Keynote Address At African Energy Week 2022
Ugandan President His Excellency Yoweri Museveni is expected to deliver a Presidential keynote address at the second edition of African Energy Week (AEW) 2022 scheduled this week from October 18-21, in Cape Town, South Africa. He will be addressing African energy policymakers, stakeholders and investors as well as international partners at the 2022 edition of…
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Equatorial Guinea: Stakeholders Discuss Gas Monetization And Energy Poverty During Oil Industry Business Forum
As global pressures mount to transition to cleaner sources of fuel, Africa continues to struggle with high energy poverty and slow rates of economic growth. To mitigate this, and correspondingly reduce carbon emissions, Africa is committed to utilizing every energy resource at the continent’s disposal, and natural gas has emerged as the most suitable. In…
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Capital Spending in Africa’s Oil and Gas Industry To Record Impressive Growth In 2022
Despite global capital expenditure having been on a downward spiral between 2014 and 2020 owing largely to COVID-19 pandemic spending trends and energy transition related divestment in Africa, the African Energy Chamber (AEC) project that capital expenditure within Africa’s oil and gas industry to increase in 2022 and beyond. According to the organization’s Q1 2022…
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Nigeria Takes The Lead In Exploration, Production And Regulation In 2022
Nigeria represents one of Africa’s heavyweights when it comes to hydrocarbon exploration and production. With over 36 billion barrels of oil (bbl) and 200 trillion cubic feet of natural gas, the country has managed to position itself as both an attractive upstream market and competitive producer. In its Q1 2022 outlook, The State of African…
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Niger Set To Monetize Massive Gas Reserves Through Trans-Saharan Natural Gas Pipeline
Enabling Europe to tap into West Africa’s abundant natural gas supplies, the Trans-Saharan Gas Pipeline is expected to boost exploration in The Republic of the Niger and expand its energy industry. With a length of 4,128km and an annual capacity of 30 billion cubic meters of natural gas, the Trans-Saharan Natural Gas Pipeline will link…