About Oando Energy Resources Inc. (OER)

OER currently has a broad suite of producing, development and exploration properties in the Gulf of Guinea (predominantly in Nigeria) with current production of approximately 5,205 bopd from the Abo Field in OML 125 and the Ebendo Field. OER has been specifically structured to take advantage of current opportunities for indigenous companies in Nigeria, which currently has the largest population in Africa, and one of the largest oil and gas resources in Africa.

Oando Energy Resources Inc. (“OER” or the “Company“) (TSX: OER), a company focused on oil exploration and production in Nigeria, today announced results from the successful completion and testing of the Ebendo 5 well. The completion and testing of the Ebendo 5 well, which is expected to contribute an additional 2,500 barrels of oil per day (“bopd”) gross (1,069 bopd net to OER), follows the successful resumption of 3,200 bopd gross (1,368 bopd net to OER) production on the Ebendo field, as was announced on April 24, 2013.

“We’re extremely pleased to announce the successful completion of the Ebendo 5 well drilling programme, increasing our net capacity by 1,069 bopd,” said Pade Durotoye , CEO of OER. “Ebendo currently has a total production capacity of up to 7,000 bopd, but is currently subject to takeaway capacity restrictions as a result of the Kwale-Akri pipeline. In light of this, we are increasing our efforts to establish our alternative evacuation pipeline, the 53 Kilometer, 45kboepd Umugini pipeline, that will further support the development of this field and reduce our dependence on one evacuation pipeline.”

The Ebendo 5 well was spudded as a deviated appraisal/development well on October 12, 2012, mainly to appraise the intermediate reservoirs encountered by the earlier Ebendo 4 well. The Ebendo 5 well was drilled to a total vertical depth (TVD) of 11,513ft and encountered eight hydrocarbon bearing sands. A drill stem test was successfully completed on two of these sands (XVIIIc and XVIIId). Sand XVIIId flowed for 18 hours and 30 minutes during the final flow test on four choke sizes. On average, it flowed on choke 28/64″ for 3 hours and 30 minutes, with an average oil and gas rate of 1,592 bopd and 2.45 mmscf/day, respectively. Sand XVIIIc flowed for 15 hours and 50 minutes during the final flow test on three choke sizes. On average, it flowed on choke 24/64″ for 8 hours and 23 minutes, with an average oil and gas rate of 840 bopd and 4.62 mmscf/day, respectively. Oil with API gravities of 47.2 degrees and 46.4 degrees were recovered from levels XVIIIc and XVIIId, respectively. Testing of sand XV is planned to occur during production, as there was a mechanical failure during testing of this sand after the completion of the well. However, from Modular Formation Dynamic Testing (MDT) pressure sampling, the fluid gradient in level XV was 0.272 pressure per foot (psi/ft), which is indicative of oil, there was no appreciable steady decline in the pressures during the Test.

The Ebendo 5 well was dually completed and sand XV will be produced through the short string while sands XVIIIc and XVIIId will be produced through the long string via a sliding sleeve. The Acme Rig-5 was released on April 17, 2013 from the Ebendo 5 well site.

The Company further announced that a new rig, the Deutag T-26, has been mobilised and a sixth well (the Ebendo 6 well) was spudded on April 18, 2013. TVD for the Ebendo 6 well is planned to be at 10,680 ft. To date, the Ebendo 6 well has been drilled to a total vertical depth of 6,231 ft. The results from this drilling programme will enable further appraisal of the shallow reservoirs encountered in the last two wells.

As pressure transient analysis or well-test interpretation has not been carried out, all results disclosed in this press release should be regarded as preliminary and are not necessarily indicative of long-term performance or ultimate recovery. The results will be updated when additional data becomes available.

SOURCE Oando Energy Resources Inc.

OTTAWA, Canada, May 15, 2013/African Press Organization (APO)/ – Foreign Affairs Minister John Baird today signalled Canada’s interest in growing trade and investment with Kenya and our intent to meaningfully engage when it comes to shared values.

Canada looks forward to both countries beginning exploratory discussions regarding a foreign investment promotion and protection agreement to help create a safer, more stable environment for investors and economic opportunities for both countries.

“Our government is focused on creating jobs, growth and long-term prosperity,” said Baird. “When it comes to African markets, Kenya is a major player, and increasing trade ties will benefit both countries.”

The potential for increased Canadian investment in Kenya is important and Canada is keen to explore opportunities for freer trade generally with Kenya and the East African Community, especially for Canadian natural resource companies, which are becoming leaders in the Kenyan mining and oil and gas industries.

Baird highlighted that greater commercial engagement and people-to-people ties come with the opportunity and responsibility to engage on protecting and promoting Canadian values.

To that end, Baird held a round-table meeting with defenders of the rights of sexual minorities in East Africa.

“In too many places, people are branded as criminals or made victims of violence because of their sexuality,” said Baird. “Canada is a leading defender of human rights for all, and I applaud the courage and conviction of those advocates working on the ground to improve the lives of sexual minorities.”

Baird also encouraged Kenya’s newly elected government to continue its engagement with the International Criminal Court.

SOURCE

Canada – Ministry of Foreign Affairs

WASHINGTON, May 15, 2013/African Press Organization (APO)/ — Remarks

Robert D. Hormats

Under Secretary for Economic Growth, Energy, and the Environment

World Economic Forum

Pretoria, South Africa

May 14, 2013

As Prepared

Thank you Lyal for the kind introduction.

I am delighted to be in South Africa again. I visited last fall with Secretary of State Hillary Clinton.

What was most striking then, and continues to be the case today, is the extent to which the image of Africa has changed. According to the IMF, growth in sub-Saharan Africa will surge to 6.1% next year, well ahead of the global average of 4%.

Africa is booming in nearly every sector, ranging from massive energy developments in Mozambique, Tanzania, Ghana, and other countries; to the growth of Rwanda and Kenya’s information and communications technology sectors; to South Africa’s thriving auto industry. And, though far from declaring victory, Africa is reaching a turning point in its hard-fought battles against poverty and corruption.

Today’s Africa looks nothing like what, in 2000, The Economist referred to as the “Hopeless Continent.” It is critical that we concentrate the world’s eyes on the new image of Africa, that of progress and promise. Perspectives are evolving—in 2011, The Economist referred to Africa as the “Rising Continent” and, last March, as the “Hopeful Continent.”

Trade is at the heart of Africa’s economic resurgence. So, in this context, I will speak first about America’s vision for global trade in the 21st century and then, focus on implications and, indeed, opportunities for Africa. America’s global trade agenda in the 21st century is shaped by a foundation laid, in large part, in the mid-20th century. After World War II, American and European policymakers worked together to build a set of international institutions that embodied democratic and free market principles.

The GATT—which led to the WTO—World Bank, IMF, and the OECD were designed to foster international economic cooperation. These institutions were vital to the economic prosperity of the United States, and to the success of America’s foreign policy and national security for the next three generations.

As we move into the 21st century, a new multi-polar global economy has surfaced. The emergence of a new group of economic powerhouses—Brazil, Russia, India, and China, of course, but also countries in Africa—has created momentum (if not necessity) for greater inclusiveness in the global trading system.

At the same time, these new players must assume responsibilities for the international economic system commensurate with the increasing benefits they derive from the global economy. In addition to the geography of international trade, the nature of trade and investment has evolved to include previously unimaginable issues such as e-commerce and sustainability.

So, part of our vision for trade in the 21st century is to build a system that is more inclusive, recognizes the new realities of economic interdependence, and matches increased participation in the global trading system with increased responsibility for the global trading system.

We are making progress with bringing new players into the global trading system as equal partners. Free Trade Agreements with Korea, Colombia, and Panama entered into force last year.

And, we are continuing negotiations on the Trans-Pacific Partnership—or TPP as it is more widely known. With Japan’s anticipated entry into the negotiations, TPP will grow to include 12 countries of different size, background, and levels of development. The agreement, when finalized, will encompass nearly 40% of global GDP and one-third of global trade.

In addition to TPP, we are embarking on a Transatlantic Trade and Investment Partnership with the European Union. TTIP—as it is being called—will strengthen economic ties between the United States and Europe, and enhance our ability to build stronger relationships with emerging economies in Asia, Africa, and other parts of the world.

TPP and TTIP are truly historic undertakings. Our objective is not only to strengthen economic ties with the Asia-Pacific and Europe, but also to pioneer approaches to trade and investment issues that have grown in importance in recent years.

These agreements will seek to break new ground by addressing a multitude of heretofore unaddressed non-tariff barriers, setting the stage for convergence on key standards and regulations, and establishing high quality norms and practices that can spread to other markets. TPP, for example, will raise standards on investment and electronic commerce, and afford protections for labor and the environment.

Our agenda also includes strengthening the multilateral trading system through the World Trade Organization. For example, the United States would like to see a multilateral Trade Facilitation Agreement, which would commit WTO Members to expedite the movement, release, and clearance of goods, and improve cooperation on customs matters. A Trade Facilitation Agreement would be a win-win for all parties—Africa especially.

Cross-border trade in Africa is hindered by what the World Bank calls “Thick Borders.” According to the latest Doing Business Report, it takes up to 35 days to clear exports and 44 days to clear imports in Africa. Clearing goods in OECD countries, in contrast, takes only 10 days on average and costs nearly half as much. Countries like Ghana and Rwanda have benefited tremendously from the introduction of trade facilitation tools and policies.

Ghana, for instance, introduced reforms in 2003 that decreased the cost and time of trading across borders by 60%, and increased customs revenue by 50%. A multilateral Trade Facilitation Agreement will create a glide path for increased trade with and within Africa.

Our views for 21st century global trade partnerships go beyond Europe and the Asia-Pacific, and efforts at the WTO. We are committed to supporting Africa’s integration into the global trading system. The cornerstone of our trade relationship with sub-Saharan Africa is the African Growth and Opportunity Act—known as AGOA. Of all of our trade preference programs, AGOA provides the most liberal trade access to the U.S. market.

Exports from Africa to the United States under the AGOA have grown to $34.9 billion in 2012. While oil and gas still represent a large portion of Africa’s exports, it is important to recognize that non-petroleum exports under AGOA have tripled to nearly $5 billion since 2001, when AGOA went into effect. And, compared to a decade ago, more than twice the number of eligible countries are exporting non-petroleum goods under AGOA.

South Africa, in particular, has made great strides in diversifying its exports to the United States. Thanks to AGOA, the United States is now South Africa’s main export market for passenger cars, representing more than 50% of exported value in 2012. Because AGOA is such an important mechanism for African countries to gain access to the U.S. market, the Administration is committed to working with Congress on an early, seamless renewal of AGOA. Our trade relationship with Africa goes beyond AGOA. For instance, AGOA represents only one-quarter of South African exports to the United States. The composition of South Africa’s exports to the United States, moreover, reflects complex interdependencies and industrial goods.

And, our trade relationship with Africa is not just about one-way trade. There is an immense opportunity for U.S. companies to do business on the continent.

We recently launched the “Doing Business in Africa Campaign” to help American businesses identify and seize upon trade and investment opportunities in Africa. The campaign was announced in Johannesburg, in part, because South Africa can play a prominent role in directing U.S. investment into other parts of the continent.

Although progress has been made on diversifying exports beyond energy, there is much more to be done. African ingenuity and entrepreneurship must be unleashed to drive innovation and growth throughout the continent. This requires closer integration to share ideas, transfer knowledge, and partner on solutions. Through AGOA and the “Doing Business in Africa Campaign”, we are promoting a business climate in Africa that enables and encourages trade and investment. However, realizing these goals is goes beyond trade preferences and commercial linkages.

Africa is also featured in America’s vision for global trade in the 21st century.

For example, we recently launched the U.S.-East African Community Trade and Investment Partnership—the first of its kind—to expand two-way trade and investment. The Partnership is designed to build confidence among the private sector by building a more open and predictable business climate in East Africa. We are considering a variety of mechanisms to accomplish this, including a regional investment treaty and trade facilitation agreement. The Partnership highlights our desire to help Africa integrate and compete in today’s global economy.

I will conclude with one final point. I began by saying that trade is at the heart of Africa’s economic resurgence. Trade is also at the heart of America’s economic recovery. We have a common interest and a common goal.

When it comes to enhanced trade, what is good for Africa is good for America. And what is good for America is good for Africa.

Thank you.

SOURCE

US Department of State

YAOUNDE, Cameroon, May 15, 2013/African Press Organization (APO)/ – An International Monetary Fund (IMF) mission, led by Mr. Mario de Zamaróczy, visited Cameroon during April 29–May 14, 2013 to conduct the 2013 Article IV Consultation. The mission met with Prime Minister Philémon Yang, Minister Secretary General at the Presidency Ferdinand Ngoh Ngoh, Minister of Finance Alamine Ousmane Mey, Minister of Economy, Planning, and Territorial Development Emmanuel Nganou Djoumessi, several other ministers, the Vice Governor and the National Director of the Bank of Central African States (BEAC), other senior officials, and representatives of the private sector, labor unions, civil society organizations, and development partners. The discussions focused on recent economic and financial developments, the 2013 budget, and the economic outlook for 2013 and beyond. At the end of the mission, Mr. de Zamaróczy issued the following statement:

“Recent macroeconomic developments were broadly in line with the projections made at the time of the previous mission in fall 2012. Growth reached 4.4 percent in 2012 (from 4.1 percent in 2011), thanks to a rebound in oil production. Inflation has been moderate, with a 2.4 percent consumer price increase in 2012. Credit to the economy remained subdued and rose by about 2.6 percent.

“Looking ahead, gross domestic product (GDP) growth is projected to accelerate to about 4.8 percent in 2013 and to rise to 5.5 percent a year in the medium term, fuelled by an expected rise in oil production and projected increases in public investment in infrastructure. However, growth would need to be sustained at a higher level for Cameroon to reach its objective of becoming an upper-middle income country by 2035.

“The discussions between the authorities and the mission focused on efforts to spur reforms and set Cameroon on a higher growth path, while mitigating risks to macroeconomic and financial sector stability. The mission recommended closely monitoring public investment in infrastructure to improve its effectiveness and governance. At the same time, the business climate needs to be improved to promote private sector involvement. The mission was encouraged by steps taken to set up the National Public Debt Committee to oversee the financing strategy of public investment plans.

“The mission recommended better allocation of public spending to help close the financing gap in 2013, and improved public finance management to preserve medium-term sustainability and rebuild fiscal space.

“The mission expressed its concern regarding fuel price subsidies. The mission believes that those subsidies are excessively costly and hard to justify, given that only a small share of these subsidies actually benefits the poor. Consequently, the mission encouraged the authorities to phase out these subsidies and replace them with better-targeted social transfer programs.

“The Cameroonian financial sector is saddled with some smaller-size banks that require prompt resolution. The mission encouraged the authorities to move swiftly in cooperation with the regional supervisor, the Commission Bancaire d’Afrique Centrale (COBAC), to protect depositors while minimizing the fiscal cost. The mission encouraged the authorities to accelerate reforms to improve the lending climate. The mission was heartened by the creation of a credit assessment database that will be available in June.

“The IMF’s Executive Board is expected to examine the report on the 2013 Article IV Consultation with Cameroon in June 2013. The mission would like to thank the authorities for their warm hospitality, excellent cooperation, and constructive dialogue.”

SOURCE

International Monetary Fund (IMF)

– Available Now on HSN.com –

NEW YORK, May 14, 2013 /PRNewswire/ – Gurwitch Products, a manufacturer and marketer of global prestige cosmetics and skincare brands, today announces the launch of nyakio™, a collection of skincare products formulated with luxurious and sophisticated ingredients indigenous to Africa. The brand’s founder and namesake, Nyakio Kamoche Grieco, is an American beauty entrepreneur of Kenyan descent who was inspired by her Kenyan family’s personal beauty secrets to create nyakio™. The nyakio™ assortment is available now for purchase exclusively on HSN.com and will debut on air, May 14.

“The launch of nyakio™ is the culmination of a dream to share my family’s beauty secrets through results-driven formulas that utilize the best natural African ingredients,” said Grieco.  “I am excited to join HSN’s roster of beauty authorities and to bring the rich sophistication of Africa to life for women everywhere.”

Just as Africa represents many cultures and ethnicities, nyakio™ products were formulated to benefit women of all ages, skin types and backgrounds.  Through its brand promise, ‘rich in heritage, effective for all skin … naturally™,’ nyakio™ products deliver highly effective skincare that hydrates, revitalizes and leaves all skin more youthful-looking.

The nyakio™ collection includes: nyakio™ Kenyan Coffee Face Polish, nyakio™ Kenyan Coffee Body Scrub, and nyakio™ Hydrating Face Oil with Kola Nut. The products range in price from $34-$55.  Additional products will be introduced in 2013, and all will be available for purchase on HSN and HSN.com.

“Like all of the beauty properties in the Gurwitch portfolio, nyakio™ is a founder-driven brand, with an authentic story and unique point of difference,” said Claudia Poccia , President and CEO of Gurwitch Products, whose portfolio also includes Laura Mercier cosmetics and ReVive skincare. “We look forward to partnering with HSN to bring Nyakio’s story directly to our target consumers, in a format that will allow them to develop a real connection with the brand and its founder.”

For additional information about nyakio™, visit @NyakioBeauty on Facebook, Twitter and Pinterest, or join in the conversation with HSN on HSN.com and @HSN on Facebook, Twitter, Pinterest and Instagram.

SOURCE Gurwitch Products

“Most important energy event in the world this year”

SEOUL – May 14, 2013: The Chinese and Russian governments have committed to sending high-level delegations to the World Energy Congress in South Korea in October, organizers said.

The Organizing Committee for the 2013 World Energy Congress said it had been notified that China’s National Energy Administration (NEA) would send a ministerial-level delegation to the event and that the government body had advised Chinese energy companies of its plan to attend.

The Chinese delegation will be one of the largest to the Congress, which will host up to 5,000 delegates from around the world, organizers said.

The Committee further announced that Alexander Novak, the Minister of Energy of the Russian Federation, would lead a delegation that will include the Russian ministries of Natural Resources and Environment, and of Foreign Affairs, as well as Gazprom, Transneft, Rosneft, RusHydro, the State Atomic Energy Corporation and other major energy companies.

The Russian delegation is planning a “Russia Day” event at the Congress.

The World Energy Congress is the world’s premier energy gathering and will take place on 13–17 October in the city of Daegu.

More than 200 prominent speakers, including energy ministers, industry CEOs and top experts and researchers, will answer the most pressing questions facing the global energy industry today

Under the theme of ‘Securing Tomorrow’s Energy Today’, topics range from the future prospects of the oil & gas, coal, nuclear, and renewables sectors to the tough policy decisions needed to balance the often conflicting priorities of energy security, universal access to affordable energy, and environmental protection. Delegates will also be given insights into how finance and innovation are shaping our energy future.

“We are delighted with the decision by the governmental and industry leaders in China and Russia,” said Dr. Christoph Frei, Secretary General of the London-based World Energy Council, which hosts the triennial event. “Having just been in China and Russia I know that this high level participation in the Congress will provide a fascinating overview of the opportunities and challenges of our energy world in transition. Such engagement by the world’s biggest players is crucial for a meaningful event.”

“Both countries are in the centre of many critical energy developments. We want to understand, within the global energy transformation, whether there is a refocus of ambition within the respective governments,” he said.

“We look forward to hearing more about developments in Russia and the energy challenges and opportunities in China at the World Energy Congress in October,” said Cho Hwan-eik, Chair of the Organising Committee of the 2013 World Energy Congress.

He added: “This will be the first time in the 90-year history of the event that China will have participated in such a significant way. For both the Chinese and Russians now to commit to the Daegu event underscores the fact that the Congress is the most important event on the global energy calendar this year.”

The Organising Committee also confirmed that a number of other governments are currently planning significant activity for the Congress. Mr. Cho added, “The discussions we are having with many governments at this early stage in our planning only serve to highlight the importance of this global event being staged in the heart of Asia at a time of significant transition in the energy sector.”

Media Enquiries:

Organizing Committee, World Energy Congress

Inang Park

Tel: +82 (2) 739 7016

M: 010 3213 7465

Email: inang.park@insightcomms.com

John Burton

Tel: +82 (2) 739 7045

M: +82 (0)10 2437 6265

Email: john.burton@insightcomms.com

World Energy Congress – international

Seán Galvin

Tel: +44 (0)20 7269 7133

M: +44 (0)7788 568 245

Email: sean.galvin@fticonsulting.com

World Energy Council

Monique Tsang

Tel: +44 (0)20 3214 0616

Email: tsang@worldenergy.org

About the World Energy Congress

The World Energy Congress is the world’s premier energy gathering. The triennial World Energy Congress has gained recognition since the first event in 1923 as the premier global forum for leaders and thinkers to debate solutions to energy issues. In addition to the discussions, the event provides an opportunity for executives to display their technologies and explore business opportunities. With the upcoming Congress in Daegu the event will have been held in 20 major cities around the world since its founding.

Further details at www.daegu2013.kr and @WECongress

About the World Energy Council (WEC)

The World Energy Council (WEC) is the principal impartial network of leaders and practitioners promoting an affordable, stable and environmentally sensitive energy system for the greatest benefit of all. Formed in 1923, WEC is the UN-accredited global energy body, representing the entire energy spectrum, with more than 3000 member organisations located in over 90 countries and drawn from governments, private and state corporations, academia, NGOs and energy related stakeholders. WEC informs global, regional and national energy strategies by hosting high-level events, publishing authoritative studies, and working through its extensive member network to facilitate the world’s energy policy dialogue.

Further details at www.worldenergy.org and @WECouncil

Ministers, CEOs and experts to address full range of energy issues

LONDON &SEOUL– 14^th May 2013: The 2013 World Energy Congress Organizing Committee announced today some of the significant program topics that will be discussed by leading figures in the energy sector at the world’s premier energy event, to be held in Daegu, South Korea from October 13 to 17, 2013.

Under the theme of ‘Securing Tomorrow’s Energy Today’, topics range from the future prospects of the oil & gas, coal, nuclear, and renewables sectors to the tough policy decisions needed to balance the often conflicting priorities of energy security, universal access to affordable energy, and environmental protection. Delegates will also be given insights into how finance and innovation are shaping our energy future.

“The Congress will provide a fascinating overview of the opportunities and challenges of our energy world in transition,” said Dr. Christoph Frei, Secretary General of the World Energy Council. “The issues to be highlighted will be addressed from a number of viewpoints, encompassing the perspectives of individual energy sectors and geographical regions, as well as providing a strategic overview of global energy trends.”

More than 200 prominent speakers, including energy ministers, industry CEOs and top experts and researchers, will answer the most pressing questions facing the global energy industry today, such as:

· Oil: Will state oil companies and independents come to dominate the industry?

· Gas: Will shale gas be a game changer in redrawing the global energy map or is it just a bubble?

· Coal: Can demand for coal overcome environmental concerns?

· Renewables: Is the honeymoon over?

· Nuclear: Can effective international governance rules keep alive the nuclear renaissance?

· Hydro: Has its time finally come?

· Biofuels: What are the critical success factors for sustainable projects?

· Utilities: Will new business models succeed in promoting decentralization?

· Energy access: Is it achievable against the competing demands for water and food?

· Energy security: What are the next big energy sources?

· Environment mitigation: Are green growth and rapid economic growth compatible?

· Energy efficiency: Are yesterday’s cities fit for tomorrow’s energy?

· Finance: Is development finance delivering inclusive green growth?

· Energy innovation: Is venture capital more important than government support?

· Asia: Can the region become a showcase for green growth?

· Eurasia: Can it achieve partnerships to unlock its full energy potential?

· Middle East: Will it balance the needs of energy exports, local energy growth and job creation?

· Latin America: Blessed with resources, but overwhelmed by choice?

· Europe: Can it achieve effective energy market integration?

· Africa: Is there an energy infrastructure road map?

“The program at the 22^nd World Energy Congress captures the full range and complexity of today’s energy challenges,” said Cho Hwan-eik, chair of the Organizing Committee of the 2013 World Energy Congress. “The Congress offers an impressive and unmatched list of speakers to provide insights on how these challenges can be addressed and overcome.”

Specific sessions and speakers will be announced shortly.

For further information, registration and other details, please log on to www.daegu2013.kr

Media Enquiries:

World Energy Congress – international

Seán Galvin

Tel: +44 (0)20 7269 7133

M: +44 (0)7788 568 245

Email: sean.galvin@fticonsulting.com

World Energy Council

Monique Tsang

Tel: +44 (0)20 3214 0616

Email: tsang@worldenergy.org

About the World Energy Congress

The World Energy Congress is the world’s premier energy gathering. The triennial World Energy Congress has gained recognition since the first event in 1923 as the premier global forum for leaders and thinkers to debate solutions to energy issues. In addition to the discussions, the event provides an opportunity for executives to display their technologies and explore business opportunities. With the upcoming Congress in Daegu the event will have been held in 20 major cities around the world since its founding.

Further details at www.daegu2013.kr and @WECongress

About the World Energy Council (WEC)

The World Energy Council (WEC) is the principal impartial network of leaders and practitioners promoting an affordable, stable and environmentally sensitive energy system for the greatest benefit of all. Formed in 1923, WEC is the UN-accredited global energy body, representing the entire energy spectrum, with more than 3000 member organisations located in over 90 countries and drawn from governments, private and state corporations, academia, NGOs and energy related stakeholders. WEC informs global, regional and national energy strategies by hosting high-level events, publishing authoritative studies, and working through its extensive member network to facilitate the world’s energy policy dialogue.

Further details at www.worldenergy.org and @WECouncil

May 2013 – The Lebanon Infrastructure Conference and Exhibition (LICEX 2013) is taking place in the prestigious Hilton Habtoor Grand Hotel, Beirut on 10 and 11 October 2013 with the support of the Secretariat General of the Higher Council for Privatisation.

Organized by Global Events Partners Ltd (GEP) from the UK and Lebanon’s Planners and Partners S.A.L., LICEX 2013 is also supported by the UK Department of Trade and Industry, the Brazilian Chambers of Commerce and other international and local organizations.

‘’LICEX 2013 will feature an exhibition and conference bringing together the infrastructure community in Lebanon,’’ said Paul Gilbert from the GEP. ‘’Participants will have the opportunity to hear from industry experts about the latest planned infrastructure projects and to discuss the vast investment opportunities available in the country. They will have also a chance to hear from international experts about the latest on the Public Private Partnership.”

“There are a lot of new business opportunities to develop in Lebanon, particularly through possible contracts in the sectors of telecommunications, public transport, power and water management,” explained Dory Renno from Planners and Partners.

Gilbert explained that “LICEX 2013 will open the door for companies to introduce their latest products and services and to position themselves as leaders in their field to develop new business in Lebanon and to take advantage of the infrastructure contracts on offer.”

LICEX 2013 will attract exhibitors and visitors from across the infrastructure supply chain; EPC contractors, Government departments and companies from the following sectors: Construction, Technology, Regulators, Banks, Legal, Consultants, Telecommunications, Electricity, Transportation and Water and Power.

Despite the political instability all around the Middle East, Lebanon has kept a stable economy with a great potential for growth in the future. The constantly increasing interest in the country as a leading tourist destination, along with the emerging oil and gas sector offshore, are just two of many drivers for such an expected growth.

“The timing of the event is excellent,” said Renno, “it coincides with the increased interest and talk about the much-needed partnership between the private and public sectors in Lebanon.” A new PPP law is being prepared within the Lebanese Government, and could be approved at any time.

The programme of LICEX 2013 conference is being developed by government and industry partners. Conference will focus on the following main topics which will be structured in two or three days:

1- The investment climate in Lebanon particularly in infrastructure projects

2- The concept of PPP and its application in Lebanon

3- Presentations by a leading government ministries on their available projects

4- Leading local governments and the projects they have on offer

Speakers will include a large number of high-ranking government officials from involved ministries and governmental organizations, as well as representatives of leading infrastructure companies in Lebanon and internationally.

LICEX 2013 is being developed by the organisers of the Lebanon International Oil and Gas Summit (LIOG) which was held in December 2012 under the patronage of the Ministry of Energy and Water and in collaboration with the Ministry of Finance. It attracted over 330 delegates and 35 speakers from 23 countries representing 150 local and international companies and organizations, including major international oil companies (IOCs).

LICEX 2013 is the next step in the partnership between the UK based Global Event Partners Ltd and their local Lebanese partner company Planners and Partners SAL. Both companies are committed to holding the leading industry events in Beirut, with a strong commitment to Lebanon and its business climate.

To learn more about the event, how to participate and other details on the programme, participating delegates, speakers and sponsors, please visit: www.lebanoninfrastructure.com

BRAZZAVILLE, Republic of the Congo, May 14, 2013/African Press Organization (APO)/ – An International Monetary Fund (IMF) mission led by Mr. Mbuyamu Matungulu visited Brazzaville during April 29–May 13, 2013, to conduct discussions for the 2013 Article IV consultations. The mission met with the Honorable Obami Itou, President of the Senate; the Honorable Koumba, Speaker of Parliament; State and Finance Minister Ondongo, Special Presidential Advisor Gokana, National Director of the BEAC Ondaye Ebauh, and other senior officials. It held discussions with development partners and representatives of the private sector, including members of the banking profession.

At the end of the mission, Mr. Matungulu issued the following statement:

“In 2012, real GDP growth rebounded to about 4 percent despite a marked decline in oil production. Activity in the non-oil sectors was robust, driven by a surge in public spending in response to the ammunitions depot explosion of March 2012. The brisk increase in spending put pressures on prices, bringing end-year inflation to 7.5 percent as domestic supply response was limited. Reflecting the high import content of increased government outlays, the external current account turned negative in 2012. Credit growth remained robust. The basic non-oil primary budget deficit increased considerably, stemming from the expansion of government spending. However, the deficit was smaller than projected, with domestically-funded investment outlays somewhat lower than anticipated.

“Real GDP growth is expected to strengthen to 5.8 percent in 2013 despite a further decline of oil production, underpinned by continuing strong activity in construction and public works, telecommunications, as well as a timid start of iron ore production. Inflation eased to a monthly average of -0.1 percent in January-February 2013, and is projected to remain subdued during the remainder of the year as pressures from the 2012 ammunitions explosions fallout gradually recede. While the current account is expected to improve, the country remains vulnerable to adverse changes in external conditions, particularly on terms of trade. Compared to the initial budget, the mission’s current fiscal projections for 2013 reflect a shortfall in oil revenue equivalent to 4.8 percent of non-oil GDP, a reduction in government spending, as well as much higher-than-anticipated payments on arrears to social sectors. While the basic non-oil primary budget deficit should be contained below the projected level, the build-up of government deposits with the central bank would likely be much lower than targeted under the 2013 budget. The mission urged stronger treasury management and discussed quarterly fiscal targets for the remainder of the year to minimize slippages.

“The authorities’ medium-term development agenda seeks to foster private sector development, facilitate economic diversification, and secure growth inclusiveness. It appropriately emphasizes preservation of macroeconomic stability, improvements in governance and transparency and in business conditions, as well as a scaling up of investment to begin closing large infrastructure and skills gaps, while seeking further gains in budget consolidation. The mission encouraged the authorities to expedite reforms to improve the quality of spending; and welcomed World Bank involvement in the efforts to improve the management of the public investment program and enhance the productivity of the development budget. It underscored accelerated implementation of World Bank-supported reforms to improve the business environment, including in financial sector; and to roll out envisaged social protection systems. Regarding the management of oil resources, the mission reiterated calls for early adoption by Parliament of the draft law on budget transparency and accountability, following the achievement last February of compliant status under the Extractive Industries Transparency Initiative (EITI). As Congo moves ahead with the establishment of Special Economic Zones, the staff team urged caution. In particular, the mission encouraged the authorities to refrain from extending special fiscal incentives, and to focus instead on revamping infrastructure, including the inadequate electricity network, and advancing administrative facilitation. The staff team favored implementation of economy-wide reforms that improve the business environment for all so as to prevent abuses. It confirmed Congo’s low risk of debt distress but noted the need for continuing prudent borrowing policies to maintain long-term debt sustainability in the post-HIPC era.

“The mission discussed a medium- and long-term fiscal framework aimed at protecting spending from oil revenue volatility and ensuring budget and debt sustainability while supporting growth and guarding against the risks in the face of declining oil reserves. The framework makes provisions for scaled up investment and a buildup of net wealth that would sustain expenditures when oil resources are depleted. Under the agreed framework, nearly 65 percent of projected total oil revenue for 2013–2019 would be spent (two thirds of which on capital goods), and 35 percent saved; and the basic non-oil primary budget deficit would be limited to 36.1 percent of non-oil GDP by 2015.

“The authorities concurred with the need to improve coordination of economic policy management through development of appropriate reform-monitoring mechanisms. In this context, staff welcomed the government’s support to the ongoing review of the Economic and Monetary Community of Central African States (CEMAC)’s reserves pooling framework. Finally, the mission reminded the authorities of Congo’s legal obligations under Article VIII, Section 5, including the obligation to provide data to Fund staff on official holdings of foreign exchange.

“The mission wishes to express gratitude to the authorities for their hospitality. Upon its return to Washington D.C., the team will prepare a staff report to be discussed by the IMF’s Executive Board.”

SOURCE

International Monetary Fund (IMF)

Solar power in the Middle East seems simultaneously logical with sun-scorched deserts everywhere, and illogical, all that oil, at the same time.

But several of the “Gulf monarchies,” all major contributors to the world’s oil supplies, are starting to set goals to cut back on consuming the hydrocarbons they produce in favor of sustainable, climate-friendly energy sources.

Abu Dhabi has a goal of getting 7 percent of its electricity from renewable sources by 2020 and the state owned renewable energy company, Masdar, is reportedly set to announce that it will invest ‘up to £1 billion’ in alternative energy schemes alongside the UK’s Green Investment Bank (GIB). Saudi Arabia, the world’s largest oil producer, is even more ambitious. The Saudi government hopes to just about double its installed electricity capacity by building 54 gigawatts of renewable energy (as well as 17.6 GW of nuclear power) by 2032, of which 41 GW will come from the sun. Qatar is also turning to renewables, with a plan on the table to get 10 percent of the electricity and energy used in water desalination from solar by 2018. Kuwait, too, has ambitions for 10 percent renewables by 2020.

To meet the goals that the UAE have set themselves means expertise will be needed from the international solar power industry to deal with the difficulties involved in desert construction including dust, high winds and transmission requirements.

To address this demand, GulfSol takes place 3-5 September 2013 at the DWTC.

“It is apparent that whilst the solar industry in other areas is struggling, right across MENA, the opportunities for companies to get themselves involved with the wealth of opportunities that are presenting themselves. Right now, nothing is hotter for solar than the Middle East” said Derek Burston, exhibition manager of GulfSol 2013.

“It is this reason that there has been a surge in space reservations at this year’s inaugural GulfSol exhibition. As the only truly dedicated solar and PV show, the exhibition provides the perfect opportunity for companies to present themselves to a high quality visitor base over a three day period”.

For more information on confirming your exhibition presence at GulfSol 2013, contact Derek Burston on dburston@bowheadmedia.com or Ben Richardson on brichardson@bowheadmedia.com

To register to visit the event go to: www.confexsys.com/sol

For more information on the event go to: http://www.gulfsol.com/

Fast facts about the solar power industry

It’s hip, it’s cool, it’s trendy and it’s green. Solar and wind power are increasingly becoming topics of conversation as the world shifts from filthy coal, oil and other fossil fuels, to the clean and renewable energy provided by the wind and the sun.

• It would take only around 0.3 per cent of the world’s land area to supply all of our electricity needs via solar power.
• Weight for weight, advanced silicon based solar cells generate the same amount of electricity over their lifetime as nuclear fuel rods, without the hazardous waste. All the components in a solar panel can be recycled, whereas nuclear waste remains a threat for thousands of years.
• Solar and wind power systems have 100 times better lifetime energy yield than either nuclear or fossil energy system per tonne of mined materials
• The amount of energy that goes into creating solar panels is paid back through clean electricity production within anywhere from 1.5 – 4 years, depending on where they are used. This compares with a serviceable life of decades.
• The theoretical limit for silicon based solar cells is 29% conversion efficiency. Currently, polycrystalline and monocrystalline solar panels generally available have efficiencies anywhere from 12% to 18%. With the addition of solar concentrators, the efficiency of photovoltaics is eventually likely to rise above 60 per cent.
• The Earth receives more energy from the sun in an hour than is used in the entire world in one year
• Solar radiation and related energy resources including wind and wave power, hydro and biomass make up 99.97% of the available renewable energy on Earth
• The first solar cell was constructed by Charles Fritts in the 1880s
• The world’s largest wind turbine is currently the Enercon E-126 with a rotor diameter of 126 meters. The E-126 produces 6 megawatts, enough to power approximately  5,000 European households.
• Global annual photovoltaic installations increased from just 21 megawatts in 1985, to 2,826 megawatts in 2007
• Manufacturing solar cells produces 90% less pollutants than conventional fossil fuel technologies
• The solar industry creates 200 to 400 jobs in research, development, manufacturing and installation for every 10 megawatts of solar power generated annually.