A stable, predictable policy and regulatory framework must be created that will lead to investment and growth in South Africa’s energy sector, says the country’s Mineral Resources and Energy Minister, Gwede Mantashe.
BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary of the Emirates National Oil Company (ENOC).
Centurion Law Group (http://Centurionlg.com) Founder and CEO NJ Ayuk has been saying for years that Africa’s oil and gas resources can fuel socioeconomic revitalization throughout the continent. Now he’s writing a book that explains how it can be done.
Total announces that it has reached a binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) for a consideration of 8.8 billion $ in the event of a successful completion of Occidental’s ongoing bid for Anadarko. The transaction is contingent upon Occidental entering into and completing its proposed acquisition of Anadarko and to approval by the relevant authorities and is expected to close in 2020.
Africa Oil & Power 2019 (www.AOP2019.com) is the official conference of South Africa’s Department of Energyand will welcome 20+ African petroleum and power ministers. AOP announces its 2019 theme #MakeEnergyWork.The theme will showcase the energy sector as a key driver of economic growth, jobs and opportunity for Africa’s people and private sectors. ‘Africa’s Energy Conference’ bridges traditional and alternative energy, fossil fuels and renewables, and petroleum and power to foster intra-African investment.
The Department of Trade and Industry (the dti) will for the first time be showcasing 15-20 local companies in the South African National Pavillion at the prestigious Africa Oil Week event (www.Africa-OilWeek.com), which will take place in Cape Town, from 4-8 November 2019.
Angola has emerged as the hub of foreign direct investments within Africa, and the prospects of attracting more FDI this year are bright, particularly in the country’s oil and gas sector. The ambitious reform agenda of President João Laurenço and that of the Minister of Mineral Resources and Petroleum, Dr. Diamantino Pedro Azevedo, has already resulted in increased investment from the country’s biggest European operators. This current state of play now presents an opportunity for North American companies to re-engage and re-invest in the Angolan market.
As Angola works in attracting foreign investors from the Americas, Europe, the Middle East and Asia, its closest African neighbours are also entering the race to tap into vast investment opportunities in Africa’s second biggest oil producing market.
Mozambique Rovuma Venture said today that the government of Mozambique had approved its development plan for the Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1.