Africa Energy: Trump Administration to Continue Power Africa

Power Africa

Power Africa to continue under Trump administration

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

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Mozambique Oil & Gas: “The Hidden Debt Issue and The Grand Gas Plans” – by Kevin Godier

Mozambique

Mozambique

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

Mozambique Oil & Gas: RINA will support Eni in the Coral South plan, follow the first FLNG in Africa

 

rina_services_logo(16x9)

RINA Services Logo

 

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

Mozambique Energy: “Electricity exports to Zambia to end by 2018 1Q” – Zesco senior official

Energy and power

“We will be able to meet demand, and imports on a regular basis will end in the first quarter of next year”, Musonda said.

Zambia’s electricity company Zesco says it plans to stop importing electricity from Mozambique in the first quarter of 2018. Continue reading

Africa Oil & Gas: South Africa storage emptying out

Crude Oil

Oil storage

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.

Africa Mining: Investors wary as Tanzania moves to assert more control over mines

 

Acacia Mining now hit with $190 billion tax bill in Tanzania

Acacia Mining is Tanzania’s biggest gold producer and operates three major mines in the country — Bulyanhulu, Buzwagi and North Mara (pictured). (Image courtesy of Acacia Mining.)

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