The Trump administration will continue to implement the “Power Africa” program according to Andrew Herscowitz, the coordinator of the US initiative. Several US officials, including Secretary of State Rex Tillerson, affirmed their support for the program and announced its continuation, said the official. Continue reading
Maputo is playing hardball with its international creditors, while pushing ahead with its grand gas plans, writes Kevin Godier.
What: Mozambique will rake in US$350 million from Eni’s sale of a Coral South stake.
Why: The government is seeking maximum benefits from its mineral resources.
What next: Balancing gas sector revenues with debt servicing will shape the future. Continue reading
RINA Services have announced having been chosen by Eni East Africa which accounting firm for the planning and the manufacturing of the structures and submarine instrumentation, as well as for the validity of the technological qualification, of Coral South, the complex floating unit of Eni for the liquefaction and export of gas (FLNG), the first unit of this type in Africa. Continue reading
Zambia’s electricity company Zesco says it plans to stop importing electricity from Mozambique in the first quarter of 2018. Continue reading
Oil and gas exploration seismic survey operations will be launched next week off the coast of Zambézia and Nampula, with the aim of establishing if hydrocarbons exist there in quantities that justify commercial exploration. Continue reading
The key oil storage hub of Saldanha Bay in South Africa has seen a significant decline in crude oil inventories.
Brent’s state of backwardation – oil futures a year out trading much lower than they are for immediate delivery – is forcing oil traders to unload cargo. The development is a sign of oil market balancing.
New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa’s brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie. Continue reading