Brent Crude oil is trading at $76.34, WTI at $66.68, natural gas at $3.11 per million BTU (16.28, 26 October 2018, South Africa), Here are AOPs top news stories from the last seven days.
South Sudan Resumes Oil Production, Seeks Investors
South Sudan Oil & Power returns to Juba for the second year, and will take place from 21-22 November 2018. The conference, themed Embracing the Private Sector, is focused on attracting international investors and service companies to the country’s newly revamped oil industry.
“South Sudan is dedicated to expanding oil and gas operations to strengthen the economy, as well as pursue economic diversification through new infrastructure and power projects,” said Hon. Ezekiel Lol Gatkuoth, Minister of Petroleum, South Sudan.
Nigeria: Dangote project to transform oil and gas industry
The Dangote Group’s Nigeria-based oil refinery and petrochemical project is expected to play a significant role in transforming the nation’s oil and gas industry.
President of the Lagos Chamber of Commerce and Industry, Babatunde Rawuse said the project would contribute to economic development in the West African country.
Oranto Petroleum Granted Extension for Nigeria’s OPL 293 Oil and Gas Block
Oranto Petroleum has been granted a renewal on its license for Nigeria’s OPL 293. This allows the Nigeria-based extra time to find partners who would aid them in exploring and developing the high potential block.
Prince Arthur Eze, chairman of Oranto Petroleum, said in a statement: “We are pleased that the government of Nigeria has renewed our license for OPL 293, given the area’s still huge potential for oil and gas exploration. We are in a great position to further activities in OPL 293. Our commitment to a fast track development is strong and we will accelerate development with all deliberate speed.”
Shoreline acquires majority stake in Entrepose DBN
Shoreline Energy International, a Nigeria-based energy and infrastructure company, has acquired a 51 percent stake in Entrepose DBN.
Entrepose DBN, a subsidiary VINCI Construction said in a statement that the strategic partnership would see its clients benefitting from the combined strengths of its partners.
Rwanda halts oil exploration on Lake Kivu
Rwanda had paused all bids from international oil explorers as the East African country conducts its own geological survey to establish whether or not the state should enter into partnerships with foreign explorers.
Rwanda’s Mines, Petroleum and Gas Board Chief Executive Officer, Francis Gatare explained that: “The stage we are at is low-cost and involves geochemical analysis in Lake Kivu through coring. Coring involves digging shallow wells that are about 10 metres deep, and testing the samples in laboratories to see if they show indications of oil.”
Senegal officially launches the Institut National du Pétrole et du Gaz
The President of the Republic of Senegal, Macky Sall earlier this week launched the Institut National du Pétrole et du Gaz (INPG).
This local content flagship initiative by Comité d’orientation Stratégique du pétrole et du gaz (COS-PETROGAZ’s) goal is to train future leaders in the petroleum industry.
EITI chooses Dakar for it’s 41st board meeting
From 30-31 October 2018, Senegal will host Extractive Industries Transparency Initiative’s (EITI’s) 41st board meeting for the first time.
EITI President Fredrik Reinfeldt said: “The progress made by Senegal is impressive. I congratulate the government and all stakeholders and encourage them to make Senegal a pioneer country for systematic and regular disclosure of EITI data.”
Greenhouse Gas Emissions could drastically drop by 2040
According to the Energy Efficiency 2018 report released by the International Energy Agency (IEA) last week, if global efforts continue with regards to the right energy efficient policies, greenhouse gas emissions could rise and then drop significantly lower as the global economy doubles by 2040.
The report is a roadmap to improving energy efficiency by 2040.
Uganda receives $212 million loan for rural electrification
As part of Uganda’s Rural Electrification Program, the East African country has received a $212 million loan from the Chinese government. The electrification program is set to meet the country’s electricity demand by increasing access by 51 percent by 2030 and achieve universal electrification by 2040.
Chinese ambassador to Uganda, Zheng Zhuqian said in a statement: “The project of bridging the demand supply balance gap through the accelerated Rural Electrification Program is a good example for China-Uganda Economic collaboration.”
Drilling begins at Lesedi CBM Project, Botswana
Tlou Energy announced earlier this week that it had started drilling at the Lesedi coal bed methane (CBM) project in Botswana.
As part of the Lesedi project, the production wells will be drilled as dual lateral pods, which will be comprised of only one vertical production well intersected by two lateral wells.
Eskom’s transmission plan for 2019-2028
State-owned Eskom shared its Transmission Development Plan for 2019 to 2028 earlier this week, highlighting plans for the long-term development of the transmission systems.
Attending the event on Thursday, Eskom spokesperson, Khulu Phasiwe tweeted: “delegates from the electricity industry gather(ing) … to learn and/or share ideas about the next phase of transmission development plans for the next 10 years.”
SA organizations call for clean energy development
Earthlife Africa, a Johannesburg-based non-profit organization, is calling for a transition to low carbon development in South Africa, with less coal and no nuclear.
Speaking during public hearings about South Africa’s draft Integrated Resource Plan (IRP) at Parliament’s Portfolio Committee on Energy on Tuesday, Earthlife Africa’s Makoma Lekalakala said the plan was fixated on centralized electricity generation and did not put South Africa in a position to reduce emissions to the required level.