Weekly News Round-Up

A round-up of this week’s positive energy industry stories from across Africa.

This week, Upstream reported that the African Continental Free Trade Area (AfCFTA) agreement, which may launch as early as January 2021, is likely to transform the local content landscape, potentially aiding in the recovery of Africa’s oil and gas sector. Read more.  

In The Gambia, Energy and Petroleum Minister Fafa Sanyang announced that he intends to establish an Independent Petroleum Commission in the country, which will prove central to his reform agenda. Read more from All Africa.

The Export-Import Bank of the United States (EXIM) reaffirmed its continuing support for Mozambique LNG by initiating the process of providing $4.7 billion in financing. EXIM Chief Banking Officer Stephen Renna signed initial documents relating to a board-authorized direct loan that would support U.S. exports for the development and construction of the project. Read more.

In Angola, the National Petroleum, Gas and Biofuels Agency (ANPG), Chevron, Sonangol, Total and Eni announced that production at the Nsinga oil field has officially begun. Read more from FurtherAfrica.

In Nigeria, Operator Aiteo Eastern Exploration and Production is in debt restructuring talks with its lenders. Group Managing Director Victor Okoronkwo spoke to the Africa Report. Read more.

Not technically breaking news, but our partners at African Energy have made available a complimentary sample of the “The Egypt Power Report 2020”. According to the report, Egypt’s electricity generation plans mean the country could end up with an enormous surplus of 74.4GW by 2035. Electricity oversupply could be larger still as the impacts of the COVID-19 pandemic are expected to subdue economic growth in the short-term. This raises further questions surrounding the country’s medium-term electricity sector planning. Download the sample here. 

Africa Oil Week Newsletter

Stay connected with our global oil, gas and energy community.
Register for AOW news.