African Energy Chamber
Source: African Energy Chamber |

South Sudan Petroleum Minister Holds Talks with OPEC to Find Solutions on Oil Price War

Hon. Puot Kang notably expressed South Sudan’s willingness to work with OPEC and OPEC+ to end the price war in any way possible

While oil prices rebounded last week on hopes of successful negotiations between Saudi Arabia and Russia, they went back down again today following the negotiations’ delay. Oil prices currently average $25 to $30 a barrel, maintaining their historic low and hurting producers around the world. Recently appointed Minister of Petroleum…

African Energy Chamber
Source: African Energy Chamber |

African governments and the judiciary must protect workers and oil companies from ill-intent legal actions due to COVID-19

African energy companies and services companies operating onshore and offshore need to be given protection from unnecessary litigation

The African Energy Chamber (www.EnergyChamber.org) is calling on African governments and the judiciary to take actions to shield oil & gas companies and their workers from lawyers trying to take advantage of the Coronavirus pandemic to create instability in the workplace. While most Africans are trying to cope with the…

African Energy Chamber
Source: African Energy Chamber |

What oil companies need to know to maintain resilient energy assets amidst a global pandemic

Most economic analysts and energy asset operators now agree that 2020 could see negative demand growth for oil globally

In this time of depressed oil Prices and raging scourge of COVID-19, most economic analysts and energy asset operators now agree that 2020 could see negative demand growth for oil globally as industries shut down and countries around the world go on lockdown. Negative economic impacts are also being forecasted…

African Energy Chamber
Source: African Energy Chamber |

Angola, Senegal, Cameroon, Ghana and Nigeria among the most hard hit amid Covid-19 and oil price plunge

The African Energy Chamber analyses the most vulnerable African countries amid the Covid-19 pandemic and low oil price

Angola revises national budget and suspends CAPEX; Senegal’s first oil development faces debt arrangement challenges; Nigeria poised for a major revenue loss; Analysts predict Ghana will get half its projected revenue; Cameroon can expect to see a three percent drop in economic growth. African oil-producing and reliant countries have been…

African Energy Chamber
Source: African Energy Chamber |

Equatorial Guinea shortlists companies for Key Energy Projects under its Year of Investment

The decision was adopted during a meeting on March 19th, 2020

The Board of Directors of the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea has selected and revealed the key companies shortlisted for the execution of its landmark projects under its ongoing Year of Investment. The decision was adopted during a meeting on March 19th, 2020. At Punta Europa,…

African Energy Chamber
Source: African Energy Chamber |

When Covid-19 and OPEC Price War strikes Africa’s Oil & Gas Sector

The immediate effect of Covid-19 for the sector has been on the demand for crude oil, and on its prices

African governments set to see decline in revenues; Exploration projects put on hold; Thousands of local jobs at risk if nothing is done. While the short-term effects of Covid-19 on world economies are already being felt and put millions in a situation of economic distress, their long-term ones are yet…

African Energy Chamber
Source: African Energy Chamber |

African Energy Chamber encouraged by Recent Gas Monetization Drive in Côte d’Ivoire

In a region rich in natural gas, such initiatives are driving Côte d’Ivoire’s energy transition and paving the way for more industrialization and jobs creation

Côte d’Ivoire is establishing a new energy leadership in West Africa following several initiatives taken to monetize natural gas across power generation and public transport. In a region rich in natural gas, such initiatives are driving Côte d’Ivoire’s energy transition and paving the way for more industrialization and jobs creation.…

Source: African Energy Chamber |

Equatorial Guinea Grants Relief to Oil & Gas Services Companies

The country takes action to support its services industry and engages on an industry-wide dialogue to study other measures for upstream operators and ongoing midstream projects

The Ministry of Mines and Hydrocarbons (MMH) of the Republic of Equatorial Guinea decided on the waiving of its fees for services companies in the country. This is the first action to be taken to support oil & gas services companies in Equatorial Guinea in the wake of the oil…

African Energy Chamber
Source: African Energy Chamber |

São Tomé and Príncipe and Equatorial Guinea lead Energy Cooperation in the Gulf of Guinea

Both ministers discussed plans to expedite joint exploration efforts in the blocks within their maritime zone

São Tomé and Príncipe and Equatorial Guinea have agreed on the establishment of a Special Zone for Joint Exploration to explore and develop cross-border oil & gas reserves believed to be in the blocks bordering each country’s maritime zone. The decision was taken during a meeting this week in Malabo…

African Energy Chamber
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Source: African Energy Chamber |

African states should immediately assist petroleum exploration and local service companies

At present, Africa stands to lose over $110bn in taxes, petroleum exports, jobs, and contracts to local companies over the next three months

While the African Energy Chamber (www.EnergyChamber.org) has a fundamental belief that we have to let the market work for itself, it encourages African countries that have engaged petroleum operators and local service companies to find ways to relieve the burden on exploration programs and local companies. The Chamber considers this…