Source: Vantage Capital Group |

Vantage exits its Genser Ghana investment

When Vantage invested in March 2013, Genser had built and operated two power facilities with a combined output of 35 megawatts

Vantage Capital (VantageCapital.co.za), Africa’s largest independent mezzanine fund, announced this week that it successfully exited its $18.5 million mezzanine investment in Genser Energy, a management-owned, independent power producer.  Genser provides distributed power generation solutions in Ghana to multinational industrial and mining companies including Gold Fields Ghana Limited, Kinross Gold Corporation, and more recently, Perseus Mining Limited and Golden Star Resources. Vantage’s exit was financed by a consortium of South African banks including Standard Bank,…

Source: Africa Oil Week |

Stability is key for supermajor investment in Africa

In order to tap Africa's immense reserves, commercial terms must be in place to draw those investments

Although it may appear that much of the exploration activity in Africa is driven by smaller independents, the supermajors still have a significant role to play. In recognition of the importance of the market these supermajors were all well represented by senior executives at this year’s Africa Oil Week (Africa-OilWeek.com).…

African Energy Chamber
Source: African Energy Chamber |

Demonizing Oil and Gas companies is not a constructive way forward on energy transition. Africa will push for “the Right to Drill”

African nations must and will take advantage of their hydrocarbon resources for economic development. Environmental sustainability is a part of it, not an impediment

In an article written for the Guardian newspaper this week, Nobel Peace Prize Winner Archbishop Desmond Tutu of South Africa argued for an Apartheid-style boycott on coal, oil and gas companies as a solution to fight climate change and help ensure global environmental sustainability goals. “We must stop climate change.…

Source: Africa Oil Week |

Total builds on Brulpadda success to herald new era for South Africa

Total has made a gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin

One of the most important discoveries of the year took place 175km off the southern coast of South Africa where Total has made a gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin. The exploration well encountered 57 metres of net gas condensate play…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Mozambique

The outlook for 2020 is for a strong rebound in economic activity and low inflation

An International Monetary Fund (IMF) staff team led by Ricardo Velloso visited Maputo during November 6–12, 2019, to take stock of recent economic developments and update macroeconomic projections. At the end of the mission, Mr. Velloso issued the following statement: “As a result of Tropical Cyclones Idai and Kenneth, real…

African Energy Chamber
Source: African Energy Chamber |

African Energy Chamber Takes Part in High-Level Debate on the Future of the Global Oil & Gas Industry at Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC)

Executives agreed that global energy markets are more than ever open for business and competing for foreign investments

The African Energy Chamber (https://EnergyChamber.org) participated in the Oil & Gas 4.0 Strategic Roundtables at ADIPEC in Abu Dhabi this week. During the “Energy trends, policy formation and geopolitical factors affecting the global oil and gas industry” roundtable, the Chamber provided a critical African perspective to the global debate on…

Source: Africa Regional Media Hub |

U.S. provides Financing to Tetra4 to develop Energy Infrastructure in South Africa

First disbursement of $40 million loan will help advance energy security

Adam Boehler, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), today announced the first disbursement of a $40 million loan to Tetra4 Proprietary Ltd. to support the development of critical gas infrastructure and advance energy security in South Africa. The announcement was made at the Africa Investment…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Mission to Niger

Fiscal policy is geared toward striking the difficult balance between attending to public needs and supporting macroeconomic stability

Implementation of the government’s reform program has been satisfactory despite a challenging environment; Economic growth is solid thanks to important large-scale projects. Ensuring that the local private sector benefits from them is central to improve living standards; Fiscal policy is geared toward striking the difficult balance between attending to public…

Source: Africa Oil Week |

Côte d'Ivoire uses Africa Oil Week to seek interest in five blocks

Since 2011, 47 exploration licences have been granted by Côte d'Ivoire including four blocks in water depths exceeding 3000 metres

Côte d'Ivoire used the showcase of Africa Oil Week  (Africa-OilWeek.com) to launch its latest offering in the oil and gas sector.  The west African nation, also known as the world’s largest producer and exporter of cocoa, released five blocks that they were seeking expressions of interest in.  “Today I have…

Source: Africa Oil Week |

South Africa reveals its blueprint for its energy future

South African cabinet approved the Integrated Resource Plan (IRP 2019) that plotted the path for the nation’s generation technology mix to assuage the current energy crisis

Last month the South African cabinet approved the Integrated Resource Plan (IRP 2019) that plotted the path for the nation’s generation technology mix to assuage the current energy crisis in the country. At Africa Oil Week (Africa-OilWeek.com) last week, its Minister of Minerals Resources and Energy, Honourable Gwede Mantashe, outlined…