Category: Energy

Local Content in Oil & Gas: A Catalyst for Shared Growth in Namibia

JOHANNESBURG, South Africa, July 2, 2024/ — In the oil and gas industry, local content refers to the development of local industries, workforce and resources to support the operations of international oil companies (IOC) within a country. For Namibia, fostering ‘Namibian Content’ can significantly enhance economic growth, social development and technological advancement. Leveraging Local Content to Drive Economic Growth Local content policies can be a catalyst for economic growth by ensuring that a significant portion of the industry’s value chain is retained within the country. By promoting the use of…

Strait of Malacca becomes oil market’s largest transport artery

The transit of oil and petroleum products through the Strait of Malacca, which is located between the Malay Peninsula and the Indonesian island of Sumatra and connects the Indian and Pacific oceans, rose by 800,000 barrels per day (bpd) in 2023, reaching 23.7 million bpd. According to the U.S. Energy Information Administration (EIA), the Strait of Malacca has surpassed the Strait of Hormuz in terms of transit volume of raw materials, as the amount of oil and petroleum products transported via the Strait of Hormuz last year totalled 20.9 million…

Bringing Finance to African Energy Projects: AEC to Host Energy Players in Europe’s Financial Capital

Global investment in upstream oil and gas is set to reach $570 billion in 2024, showing a 7% rise compared to 2023 expenditure. Of this, 33% is expected to be directed towards frontier fields, presenting a strategic opportunity for undeveloped oil and gas markets in Africa. With lack of investment representing one of the biggest challenges to project development across the continent, the African Energy Chamber (AEC) will host a networking reception on July 11 in London – Europe’s financial capital. Taking place at the Four Seasons Hotel London at…

A Model for African Producers: Wing Wah’s $2B Integrated Energy Project to Bolster Resource Monetization in the Republic of the Congo

JOHANNESBURG, South Africa, June 21, 2024/ — The Republic of the Congo has a goal of increasing hydrocarbon production to 500,000 barrels per day (bpd) and projects such as Wing Wah Oil Company’s Bango Kayo development will serve as catalysts for meeting this objective. The project is a strong example for how integration and scalability can be utilized to not only monetize resources but maximize production beyond the lifecycle of initially-tied in blocks. The African Energy Chamber (AEC) – the voice of the African energy sector – conducted a tour…

Energy for Growth in Africa Initiative Unveiled

By.Mohammed A.Abu The decades long delay in fulfilment of pledges made by the Global South towards  climate change impact funding  in the Global North hasn’t helped the course of the global transition from fossil fuels derived energy to renewable energy as global warming and climate change impact bites deeper. Indeed, lack of external affordable funding for renewable energy projects in both the public and private sectors of countries in the Global South with particular reference to Africa, the world’s most energy poor continent, has since given rise to the legitimate…

G7 Pledges to Accelerate SDGs, Transition from Fossil Fuels This Decade

The Group of 7 (G7) leaders from Canada, France, Germany, Italy, Japan, the UK, and the US, with the EU, have wrapped up a three-day summit, united in their “steadfast commitment” to implementing the 2030 Agenda for Sustainable Development. They pledged to redouble their efforts to accelerate progress towards the SDGs, including by transitioning away from fossil fuels in energy systems in this decade. The G7 Leaders’ Summit took place in Apulia, Italy, from 13-15 June 2024. The 36-page Apulia G7 Leaders’ Communiqué reiterates the Group’s “enduring unity and determination…

Following First Oil Production, Senegal’s Minister of Energy, Petroleum and Mining Joins African Energy Week (AEW) 2024

CAPE TOWN, South Africa, June 19, 2024/ — Senegal’s Minister of Energy, Petroleum and Mining Birame Soulèye Diop will participate at the African Energy Week (AEW): Invest in African Energy 2024 conference – Africa’s premier event for the energy sector taking place from 4–8 November in Cape Town. Minister Diop is expected to unpack the critical role oil and gas plays across the MSGBC region, providing insight into project developments and future investment opportunities. Minister Diop’s participation comes as the country celebrates a new milestone in its oil and gas…

Africa’s Largest Hydroelectric Power Plant Surpasses Expected Electricity Generation: Contributes to 16% of East Africa’s Total Electricity Output

The Ethiopian government has noted that Africa’s largest hydroelectric power plant has surpassed expected electricity output. The government disclosed that the Grand Ethiopian Renaissance Dam (GERD) has generated more than 2,700 gigawatt hours (GWh) of electricity during the past 10 months. The Ethiopian Electric Power (EEP) said the mega hydroelectric power plant has surpassed its initial planned power generation targets in the past 10 months of the current 2023/2024 Ethiopian fiscal year. Its fiscal year started on July 8, 2023. According to data from EEP, the dam has registered a 26 per…

Tanzania SGR Operations Approach as the Country Launches East Africa’s First Electric Train

The Republic of Tanzania has made a significant step in the rail transport sector as the country launched its first electric train on Saturday, which got to transport a total of 1,400 passengers from the coastal city of Dar es Salaam to Morogoro which is located in the in the western part of the country on its maiden journey, covering a total distance of 300 kilometers (186 miles)  as the Tanzania SGR Operations are expected to commence from next month. Moreover, comprising of state-of-the-art electric and signaling systems, the Tanzania…

AIM Startup and Unicorns Track: Insights and Innovation Take Center Stage at 2024 AIM Congress

Abu Dhabi, 9th May, 2024: The 2024 AIM Congress, held at ADNEC in Abu Dhabi from May 7 to May 9, showcased a dynamic exchange of visionary ideas and strategic insights during the AIM Startup and Unicorns Track sessions. These sessions, featuring esteemed moderators and panelists, unveiled groundbreaking perspectives and transformative opportunities across various industries.  Middle East Unicorns Conclave: Unicorns and Mobility Industry Moderated by Mohamed Nagaty, the session illuminated the evolving landscape of unicorns and the mobility industry, with Mohamed Ezzat of Tech Logistics (Bosta), Salman bin Mohammed Al…