African News

500,000 families yet to get electricity under Kenya’s subsidy plan

Jun 2, 2020

President Uhuru Kenyatta is set to leave thousands of families without power when his term ends in two years since only 48 per cent out of 1.02 million targeted households have been connected to the national electricity grid. Kenya Power, the utility firm charged with hooking households to the electricity mains, has connected 494,374 under…

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Building Energy joins forces with Evolution II for renewable energy projects in Africa

Jun 2, 2020

A joint venture has just been set up to develop renewable energy projects in Africa. Red Rocket, an independent power producer (IPP) whose recapitalisation was carried out by Building Energy, has joined forces with the Evolution II fund. Developing renewable energy projects in Africa. It is the leitmotiv at the origin of the partnership recently…

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Armed militia prevent NOC maintenance teams from working in Libya

Jun 2, 2020

The National Oil Corporation (NOC) confirms that an armed militia commanded by a person called Abedelkarim Alrouni has prevented the maintenance teams affiliated to Akakus Oil Operations from opening Alhamada valve in order to pump chemical substances that would help protect the transfer line from corrosion. As we have already warned technical problems resulted from…

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Cameroon’s national oil firm forecasts 70% drop in oil revenues for 2020

Jun 2, 2020

The National Hydrocarbons Company (SNH) has just informed the government that it can only guarantee 30% of the revenues initially provided for in the 2020 Finance Law. A cyclical downturn which it links to the fall in the crude oil prices, following the Coronavirus pandemic. Clearly, on the basis of this information transmitted to the…

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SA’s RMB commits funding to Mozambique LNG project

Jun 2, 2020

Leading African corporate and investment bank RMB said a liquefied natural gas (LNG) project in Mozambique is expected to receive US$15bn of financing commitments at a signing scheduled for June 2020. The Mozambique LNG project will be led by multinational French oil and gas company Total SA and is expected to generate upwards of US$40bn…

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Copperbelt Energy Corp will no longer supply energy to Konkola Copper Mines in Zambia

Jun 2, 2020

In Zambia, the Copperbelt Energy Corp (CEC) will stop supplying electricity to Konkola Copper Mines (KCM), the local branch of the Vedanta Group, from next Monday, reports Reuters . This judgment comes after the failure of negotiations between the two parties on the settlement of the amount due by the mining company to the energy…

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Danish firm Svitzer secures Egypt LNG contract extension

Jun 2, 2020

Denmark’s Svitzer, the world’s largest tugboat operator, said Tuesday it has won a contract extension to support operations at Egypt’s Idku LNG export plant. Under the extension, Maersk’s unit Switzer will continue to assist the Egyptian LNG-operated plant with four tugs, two mooring boats and one pilot boat. The towage company has been operating at…

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Rockefeller commits $3m to boost Africa’s off-grid, technology against COVID-19

Jun 2, 2020

Rockefeller Foundation will award three new grants to support organisations that are working with countries, communities, and regions in Africa and Asia to leverage data and technology to bolster their COVID-19 response. A portion of the grants is earmarked for off-grid technologies that can quickly address the energy needs of healthcare facilities currently operating without…

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Namibia’s fuel price to remain unchanged this month

Jun 2, 2020

The Ministry of Mines and Energy has resolved to keep countrywide fuel pump prices unchanged for the month of June 2020. The price of 95 octane petrol will remain at N$10,35 per litre while the price of diesel 50ppm remains at N$11,13 per litre. The ministry’s spokesperson Andreas Simon said the decision was made taking…

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West African crude-trading muted as freight steady, contango narrows

Jun 2, 2020

Little trading or price movement occurred on Monday as faster buying earlier in the trading cycle lapsed into a lull. Offers for West African grades, even ones which had recovered significantly in previous weeks, remained stuck at current levels. BP last offered a cargo of Angolan Girassol at dated Brent plus $3.30. Freight rates from…

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