Weekly News Round-Up

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

Wednesday’s AOW webinar, “The Promise of Mozambique: Updates on Building a Natural Gas Hub” made headlines this week. Energy Voice reported that contributors shared their view that the LNG industry in Mozambique will have a transformative impact on the country’s economy, with Deloitte’s Mario Fernandes telling participants that companies were considering a second phase of projects in the East African state, which might see another 30mn tpy of production approved. Read more here.

In another story linked to the AOW webinar (please excuse our shameless self-promotion), Upstream reported that Mozambique’s Matola LNG scheme is “moving at almost warp speed", according to Paul Eardley-Taylor, Standard Bank’s Head of Oil & Gas for Southern Africa.

This week, China's CNOOC International chose not to exercise its right of pre-emption in a deal struck last month between Tullow Oil and Total over assets in Uganda. The late-April deal saw Tullow agree to sell its one-third stake in a quartet of Lake Albert blocks to the French supermajor. Read more from Upstream.

Norwegian Independent Panoro Energy announced its first quarter 2020 results. These contained an indication of renewed optimism; the company’s production growth activity in Tunisia is at unprecedented levels, with further increase expected in Q3 2020. CEO John Hamilton commented, “with some conditions easing recently, we are taking further actions towards resumption of some well activity in Tunisia, and await further improvements ahead of our planned growth in Gabon.” Read more from Market Screener.

Not technically breaking news, but this piece from Petroleum Economist (in partnership with Norton Rose Fulbright) examines how the current pandemic and resulting fall in demand for energy is hitting the willingness to fund oil and gas projects. Read it here.

As ever, we want to hear from you. If your company or organisation has a story to share with the AOW Community, contact us at info.africa@hyve.group.

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