Latest News
World Bank revises Nigeria’s growth projections upward
November 29, 2021
Afreximbank provides $50m to Nigeria's first integrated power project
November 22, 2021
Berbera International Airport has officially opened
November 23, 2021
Nordic investors in Lagos seeking smart city investments
November 24, 2021
IsDB allocates $20 million for Togo’s rural electrification
September 26, 2021
AVZ Minerals secures Chinese investor for major DRC lithium and tin project
September 27, 2021
Angola
bp achieves first oil from subsea tieback project on Block 18
The project will develop an estimated 44 million barrels of oil reserves and add 30,000 barrels of oil per day to Block 18 production once it reaches its peak in 2022.
Budget
Ghana bets on higher oil revenues despite production decline over 2022-2025
Ghana's latest Budget Statement revises benchmark oil price upward and expects $1bn a year in oil revenues until 2025 despite decreasing oil production.
Floating LNG
Coral-Sul FLNG ready to sail away to Mozambique’s Rovuma basin
The 3.4 million tonnes per annum (mtpa) FLNG forms part of the Coral South Projec and will be towed and moored at its operating site in the Rovuma basin offshore Mozambique next year.
COP26
Western nations announce multi-billion dollar partnership to phase out South African coal
The United States, Britain, France, Germany and the European Union have committed $8.5bn (£6.2bn) to help end South Africa’s reliance on coal.
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M&A
Ardova Plc completes acquisition of Enyo Retail & Supply Ltd in Nigeria
The acquisition is part of ongoing consolidation in the Nigerian downstream market as oil marketers seek to achieve economies of scale to boost profitability.
Earnings
Bet on Nigerian deep-offshore proves successful for Africa Oil Corp.
The company has become cash positive less than two years after securing exposure to Nigerian deepwater fields.
M&A
Nigeria: RainOil completes acquisition of majority stake in Eterna Plc
The Nigerian downstream sector is going through significant consolidation as players seek to expand their reach and network to benefit from economies of scale in a market where PMS remains heavily subsidised and regulated.
Hydrogen
HYPHEN wins Namibia’s $9.4bn green hydrogen project
The investment required for the large-scale green hydrogen project represents the size of Namibia's GDP.
Gas-to-Power
BW Energy moves to develop giant Namibian gas field first discovered in 1974
BW Energy has just acquired Aquadrill's semisubmersible drilling rig “Leo” for the development of the Kudu gas field offshore Namibia.
LNG
South Africa issues Request for Information on new Coega LNG import hub
South Africa’s state-owned Central Energy Fund (CEF) has issued a request for information (Rfi) for the development of a midstream LNG hub in South Africa’s Eastern Cape Province.
Gulf of Guinea
BW Energy starts production from Tortue Phase 2 offshore Gabon
BW Energy has announced that the hook-up of the DTM-6H and DTM-7H production wells at its Dussafu Marin Permit offshore Gabon has been completed and handover to production operations made.
PPP
Meridiam signs $250m Concession Agreement for Burkina Faso’s Donsin-Ouagadougou Airport
Once completed, the new Donsin international airport will replace the current Ouagadougou-Taamsê International Airport.
Earnings
VAALCO Energy’s share price rises to historic highs
VAALCO Energy, the independent company operating oil & gas projects offshore Central Africa, has just reported a strong net income of $31.7m for Q3 2021.
Infrastructure
InfraCo Africa and Helios are establishing a new $350m climate-focused investment vehicle for Africa
InfraCo Africa and Helios Investment Partners have announced that they are working together to establish a pan-African investment vehicle: Climate, Energy Access and Resilience (CLEAR). The initiative was revealed as part of a UK government event hosted in Glasgow on Finance Day of the UN’s COP26 Summit.
Exploration
BW Energy, VAALCO Energy and Panoro Energy secure two exploration blocks offshore Gabon
The provisional award gives the three companies the opportunity to explore next to their existing producing infrastructure on the Dussafu and Etame permits.
Renewable Energy
A.P. Moller Capital has acquired 44% of Cabeólica from the AFC
This is A.P. Moller Capital's second major deal within sub-Saharan Africa's power sector this year following its acquisition of Iberafrica from Naturgy in April.
Clean Cooking
Why Nigeria's LPG industry is an underrated investment opportunity
With double-digit demand growth and soaring prices, LPG is the commodity of the year in West Africa. Nigeria in particular is experiencing a significant expansion of its clean cooking industry, slowed down only by limited infrastructure availability.
Exploration
Good things come in threes: after Angola and Ghana, Eni strikes oil offshore Côte d'Ivoire
The opening of a new play concept in Côte d'Ivoire's sedimentary basin is very good news for a country where oil production has failed to meet expectations and has been dropping significantly in recent years.
US-Africa
The U.S. commits $550m to boost Senegal's electricity sector
After investing half a billion dollars into Senegal’s agriculture, the Millenium Challenge Corporation has committed another $550m into its electricity sector. Hawilti unpacks the U.S. Government's latest foreign aid programme.
New Deal
Nigerian trader farms into Thali PSC offshore Cameroun
Tower Resources Cameroon has finally found a farm-in partner to acquire a 49% non-operating working interest in the Thali production sharing contract (PSC) offshore Cameroon.
Eurobonds
African governments have developed a taste for Eurobonds: why it’s dangerous
To date, 21 African countries have sold Eurobonds worth a combined total of over US$155 billion on international bond markets since 2006.
