Brent Crude is trading at $67.42, WTI at $57.51 and natural gas at $2.69 per million BTU (at 16:42 in South Africa). Here are AOPs top news stories from the last seven days.
This week saw Equatorial Guinea dominate Africa Oil and Power news, with the country moving forward in their mission to address key governance issues of transparency and accountability in the extractive sectors. South Africa’s energy sector is also undergoing change with the recent Brulpadda gas resource discovery by Total.
Equatorial Guinea makes step toward joining EITI
Equatorial Guinea made a decisive step toward joining the Extractive Industry Transparency Initiative (EITI) in Oslo, Norway on Friday February 15, 2009, receiving the endorsement of the EITI International Secretariat and establishing positive bilateral relations between the two parties.
Having initially applied for membership in the organization in 2008, Equatorial Guinea has since instituted several reforms to take part in the global initiative.
Gas expected to be a key driver of South Africa’s electricity generation
South Africa’s Department of Energy aims to ramp up electricity generation through the increasing availability of gas in the country, Energy Minister, Jeff Radebe, said on Wednesday.
Speaking in Johannesburg, he highlighted the vast potential gas has to benefit the energy sector and attract investment, highlighting the recent Brulpadda gas resource discovery, in the Outeniqua Basin of South Africa.
Ethiopia and Djibouti
Gas pipeline to be constructed between Ethiopia and Djibouti
Djibouti’s Energy Ministry last week signed a deal with Ethiopia for the construction of a 767km gas pipeline between Ethiopia’s eastern Ogadem Basin and an export terminal on the Red Sea.
According to Djibouti’s Energy Minister, Yonis Ali Guedi: “It is the most expensive project ever built in the Horn of Africa region.” The total cost for the project has not yet been disclosed.
Algeria’s energy sector to sustain growth in 2019
Algeria’s Prime Minister, Ahmed Ouyahia, is expected to focus on developments in the country’s energy sector when he delivers the Algeria’s general policy statement to parliament on February 25.
An early publication on the Prime Ministry’s website shows that the document will focus, among others, on oil and gas exploration to power generation and renewable energy.
12MW rooftop solar PV to be constructed in Ghana
The power generation subsidiary of Southern Utilities Limited, a member of LMI Holdings, Helius Power Company, intends to construct and operate a rooftop solar power plant in the Tema Free Zones Enclave, in Ghana, West Africa.
The plant will be approximately 12MW, located on 92,000m2 roof space of Mega Warehouse, which is owned by the International Warehouse Company, a subsidiary of LMI Holdings.
Tullow to construct oil pipeline in Kenya
Tullow Oil aims to complete the construction of a $1 billion oil pipeline in Kenya by 2022. According to the multinational oil and gas company, the 821km pipeline will transport around 80, 000 barrels of oil per day from the Lokichar oilfields in Northern Kenya to the Lamu seaport.
Since 2012, Kenya has struck 750 million barrels of commercially viable oil, with ongoing exploration showing that the number could potentially increase to over one billion barrels.
Spectrum defends role in Somalia oil block auction
Norway-based seismic data company Spectrum has denied its participation in the auction of offshore oil blocks at the Somalia Oil and Gas Conference held earlier this month.
According to a statement released by the company, the Somalia Offshore Round event was intended to allow interested parties to understand the offshore potential of the blocks from the seismic data, as well as the selection of blocks, the legal and fiscal terms, and the bidding conditions. Held in London on February 7, the conference was hosted by the Somali government in collaboration with Spectrum.