Africa Oil Corp. has announced the acquisition of additional shares in Impact Oil & Gas Limited, bolstering its stake to 32.4% with a purchase of 25,652,039 shares for approximately USD 18.6 million.
Russian exports of petroleum products to Asia via the southern tip of Africa nearly doubled in July from a month earlier to hit an all-time high, according to LSEG shipping data reported by Reuters.
The volume of coalbed methane held in a key asset in Botswana operated by Australia-listed minnow Botala Energy has increased by more than 40% to hit some 450 billion cubic feet, according to a third-party estimate.
Africa Energy Corp. (TSXV: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”) announces that CNR International (South Africa) Limited (“CNR”) has provided notice to the joint venture partners that it will withdraw from its 20% interest in accordance with the joint operating agreement in respect of Block 11B/12B, Offshore the Republic of South Africa (“JOA”).
Continental group the African Petroleum Producers Organization (APPO), in collaboration with multilateral financial institution the African Export-Import Bank (Afreximbank) has signed the requisite documents for the establishment of the Africa Energy Bank – an institution set up to facilitate, promote and finance the development of oil, gas and energy industries in Africa. The signing ceremony was held in Cairo on Monday June 3 and marked the official creation of the institution.
Many African countries face challenges in developing and utilising their energy resources. These challenges include lack of access to capital, inadequate infrastructure, unclear regulations, and limited local expertise.
In a move set to redefine the energy dynamics of the African continent, Afreximbank and the African Petroleum Producer Organisation (APPO) are poised to launch the African Energy Bank (AEB). This groundbreaking initiative aims to catalyze the advancement of oil and gas projects across Africa, thereby fostering the continent’s socio-economic development.
African Energy Week (AEW) 2023 Unites Key Players During Invest in Angola Energies Spotlight Session
The 2023 edition of the biggest gathering of energy stakeholders and policymakers on the continent, African Energy Week (AEW) – organized by the African Energy Chamber (http://www.EnergyChamber.org) – featured a country spotlight roundtable on Angola, showcasing the country’s abundant reserves and favorable business environment.
Altera Infrastructure has been awarded contracts for the redeployment of the FPSO Voyageur Spirit and the shuttle tanker Nordic Brasilia for the Baleine Phase 2 project, located offshore Ivory Coast.
Africa is yet to see anything close to a full return on its massive oil and gas resources. With one-third of the continent – almost 500 million people – still having no access to electricity, ending energy poverty across Africa is among the planet’s most urgent challenges.