EU devotes €46m to the adoption of clean energy by local businesses in Egypt and Morocco

Jul 5, 2020

The EU has allocated € 45.9 million to the EBRD’s Green Energy Financing Facility in Egypt and Morocco. The facility will allow local banks to allocate finance to companies wishing to use renewable energy and energy efficiency. The European Union has just awarded a € 45.9 million grant to support the action of the European…

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Libya’s Agoco set to resume oil output from eastern Messla field

Jul 5, 2020

Libya’s Arabian Gulf Oil Co. will restart production at the eastern field of Messla this week, according to a person familiar with the matter. Agoco, as the company is known, will start pumping around 10,000 barrels of crude a day, said the person, who asked not to be identified because he’s not authorized to speak…

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Nigeria requires N289.86bn to meter 6,456,275 power users

Jul 5, 2020

Between N289.86bn and N534.93bn is required to provide meters for the 6,456,275 unmetered electricity users across the country, findings have shown. This came as industry stakeholders stressed that there must be alignments and coordination among operators for equipment improvement projects being executed in the sector to be achieved. Latest figures of unmetered customers in the…

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Jubilee injects an additional $40m in Bujagali Energy, owner of Ugandan dam

Jul 4, 2020

In Uganda, Jubilee acquired 9.44% of additional shares in Bujagali Energy, which owns the Bujagali dam with a capacity of 250 MW. The insurer expects a stable and consistent return on investment despite the difficulties encountered by the entire sector. The insurer Jubilee Holdings acquired 9.44% additional shares in Bujagali Energy Ltd (BEL) in Uganda.…

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Sonatrach reduces expenditure by 50% without affecting production activity

Jul 4, 2020

National hydrocarbon company Sonatrach has reduced by 50% its expenditure and re-examined its investment plan in the last few months, following the government’s instructions, said Wednesday, in Algiers, the company’s CEO Toufik Hakkar. In a press briefing on the sidelines of the signing ceremony of several cooperation agreements with Italian energy company ENI, Hakkar said,…

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Uganda sees electricity exports grow

Jul 4, 2020

An increase in demand for electricity by other countries has significantly contributed to the resumption of Uganda’s total power demand. Data from Uganda Electricity Transmission Company Limited (UETCL), indicates that the increase in power demand from exports was slightly higher than in the domestic market. System power demand, which is a total of domestic demand…

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Nigeria’s refineries face impending solvency over debt

Jul 4, 2020

Nigeria’s largest refineries face impending insolvency over debt, as they continue to generously pay workers for doing nothing, validating calls by experts that the moribund assets be privatized. The remarkable collapse of refineries once operating at full capacity is a big loss to government and reputational damage to stakeholders. The existential risk to the 3…

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Power Discos fault NERC’s limits on estimated billing

Jul 4, 2020

Electricity distribution companies in the country have decried the limits placed by the Nigerian Electricity Regulatory Commission on the estimated bills being given to customers without meters. The Discos described the assumptions used by the regulator as incorrect, saying the capping of estimated bills was costing them N16.5bn to N22bn every month in revenue. NERC…

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Most of Ghana’s gas has been stranded

Jul 3, 2020

More than half of natural gas produced in Ghana in 2019 has had to be reinjected for lack of availability of off takers, the country’s annual petroleum industry report has indicated. “In spite of the fact that Ghana National Gas Company(GNGC), managed to bring on stream new off takers during the reporting period, namely Amandi…

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Angolan crude differentials steady despite slow Chinese buying

Jul 3, 2020

Port congestion and abundant stocks have dampened Chinese buying, but Angolan price differentials remain steady as refiners switch towards sweeter crude grades amid scarcity and high prices for sour alternatives. * Chinese state and independent refiners continue to hold off on buying as the backlog lingers, traders said. * Chinese ports are struggling to unload…

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