The front-runner for Mozambique president is likely to continue keeping Rwandans on the job of protecting gas sites
Analysts say that the ruling party candidate for this month's election, who is almost guaranteed to win, will continue to rely on Rwanda's army and European money in order to secure the region's vast gas fields, which are plagued by islamist violence. Daniel Chapo (47), an ex-highschool teacher, will…
European and Southern African Development Banks to lend an extra $220 million to clean energy projects
The European Investment Bank and Development Bank of Southern Africa announced on Wednesday that, together, they will lend an additional 200 millions euros ($220.16million) to renewable energy project in South Africa. The EIB and DBSA have pledged 400 million euros at the COP27 Climate Summit in 2022…
BP to Invest $1 Bln in South Africa
BP Southern Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday.The 180,00 barrels per day SAPREF refinery, South Africa's largest, is a 50:50 venture between Royal Dutch Shell and BPSA…
Port of East London to Expand its Petroleum Footprint
More than 100 attendees representing 97 companies have shown keen interest in the Port of East London’s plans to recommission an existing tank in the port for handling of liquid bulk and to introduce a liquid bulk terminal through a 25-year port concession awarded to a private, empowered entity.The companies attended a compulsory briefing on May 9…
Glencore Sees Record Oil Trading Volumes as Margins Shrink
Glencore looks set to cement its position as the world's second-largest oil trader as it tries to offset low volatility and tight margins with record volumes this year, its global head of oil, Alex Beard, told Reuters. The London-listed commodities trader and miner will shift around 6 million barrels per day (bpd) of crude and refined product this year…
Transnet Appoints Ngqura Liquid Bulk Terminal Operator
The Port of Ngqura is poised to play a vital role in ensuring the security of South Africa’s fuel supply, while creating a new petroleum trading hub for Southern Africa in anticipation of the relocation of existing liquid bulk facilities from Port Elizabeth. This follows the conclusion of an agreement…
Africa Could be Major LNG Importer by 2025 -Total
Africa could become a significant global market for imported liquefied natural gas (LNG) by 2025, with Egypt the main driver, as more countries eye gas-to-power projects, a senior official at Total said on Tuesday. With hundreds of millions of people living without electricity in the world's poorest continent…
Zambia Cuts Power as Dam Level Drops on Drought
Africa's second-biggest copper producer Zambia has cut its power generation by 300 megawatts after water levels in the Kariba dam, a key source of hydro power, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia planned to reduce its hydro-power generation by up to 600 MW if water levels continued dropping.
South Africans Fear 'Dark Days' Ahead of Power Cuts
Businesses have shut up shop, generators have sold out and cars play cat-and-mouse at darkened road junctions in South Africa, where power cuts have suddenly become a daily reality. Under white minority rule, South Africa subsidised electricity heavily to attract foreign investment, although much of the black-majority had no access to power.
SacOil Considers $6 bln Gas Pipeline
Oil and gas explorer SacOil Holdings has teamed up with the South African and Mozambican governments to study a possible $6 billion gas pipeline between the two countries, it said on Monday. If viable, the pipeline and the distribution facility will carry natural gas from Mozambique into South Africa, as well as other southern African countries.
Rio's Mozambique Retreat in Advance of Next Commodity Boom
While it's easy to point the finger of blame at Rio Tinto's former management and feel a tad smug about their downfall, the real lesson of the company's humiliating exit from its Mozambique coal assets is that the wheels of the next commodity boom are now in motion. This may seem counterintuitive at first…
Iain Conn to Leave BP
BP today announced that Iain Conn, Group Managing Director and Chief Executive, Downstream, is leaving the company and is to step down from BP’s board by the end of the year. Conn has had a career of 29 years with BP, serving on the board for the past 10 years and in his current Downstream role for the past seven.
Mozambique to Build Two Hydropower Plants
Mozambique has approved a $1.8 billion plan to build two hydropower plants to meet growing energy demand in the central province of Tete, home to some of the world's largest untapped coal reserves, a government minister said on Wednesday. Unlisted Brazilian engineering group ATP Engenharia Ltda won a…
