The Buzz: This Week in Africa
Brent Crude oil is trading at $80.22, WTI at $69.34, natural gas at $3.18 per million BTU (15.05, 19 October 2018, South Africa), Here are AOPs top news stories from the last seven days.
Eskom coal shortages continue
This week, one of the largest diversified mining companies in South Africa, Exxaro Resources told media that it was looking to supply coal to state-owned power utility, Eskom.
In addressing coal inefficiencies in the country, Eskom said it would enter into short-term contracts with various suppliers. Exxaro, which already supplies coal to some of Eskom’s power stations, voiced its flexibility to enter into such an agreement.
Public comment on the IRP begins
In preparing for future energy needs, government released the much-anticipated Integrated Resource Plan (IRP) draft for public comment last month. This week, during the second day of public hearings, Business Unity South Africa raised concerns on the IRP draft, and suggested that the IRP remodel its structure based on GDP forecast.
Solar PV in Cape Town’s energy mix
As the country makes its transition to a more renewable energy-focused energy mix, the City of Cape Town plans to unlock more access to the benefits of solar photovoltaic for more of Cape Town’s residents.
In implementing cleaner and more efficient energy, the city will collaborate with the United States Agency for International Development and the Southern Africa Energy Program.
Egypt speeds up renewable energy procurement
Speaking at the Egypt Renewable Energy Conference last week, ACWA Power CEO, Paddy Padmanathan said an accelerated procurement of renewable energy projects in the country would decrease its dependence on fossil fuel power plants.
The plan will also reduce Egypt’s dependence on energy costs and carbon content.
SDX Energy, BP acquisition deal terminated
Although it did not provide additional information as to why the deal was terminated, North-Africa focused oil and gas company SDX Energy said its discussions to acquire a significant amount of BP’s Egypt assets had come to an end.
According to the statement, the discussions were terminated by mutual agreement.
Liberia keeps up with offshore sector growth
In order to keep up with the growing offshore and gas sector, Liberia has established an Offshore and Gas Technology department.
CCO of the Liberian International Ship & Corporate Registry and the U.S – based manager of the Liberian Registry, Alfonso Castillero, said the implementation of the department came as a result of the growth of the offshore sector, which became apparent from the first half of 2018.
Ghana launches inaugural licensing round
On Monday, Ghana’s President Nana Akufo-Addo launched the country’s first oil and gas licensing round as part of the New Patriotic Party’s 2016 manifesto to ensure transparency in the sector.
During the launch, held in Accra, the president said the licensing round was part of the country’s strategy to improve production and increase its reserves.
AfDB approves loan for power supply improvement
The Rwandan government signed a $265 million funding agreement with the African Development Bank (AfDB) to improve power supply and improve access.
“The approved program will enable the government to add over 193,000 new on grid and over 124,000 off grid connections,” said Vice President for power, energy, climate change and green growth, Amadou Hott.
Sound Energy to drill TE-9 well
On Wednesday, Sound Energy began drilling the TE-9 well, marking the start of the planned drilling of three exploration wells in Eastern Morocco.
Drilling is expected to be complete in 35-45 days.
Pipeline fatalies rise
The death toll in Nigeria’s Osisioma fuel pipeline fire rose to 200, up from the 16 deaths originally reported last week.
“The oil pipeline fire outbreak along the Osisioma axis near Aba Depot might have been caused by suspected oil thieves who had hacked into the line to intercept flow of petrol from Port Harcourt to Aba,” an NNPC spokesperson said.