African Oil Archives - AfricaBusiness.com

22Oct

By Ogi Williams and Jacques Du PreezNo Comments

Energy

African Oil & Gas: Evolving the industry post Covid-19

By Ogi Williams and Jacques Du Preez The following paper provides excerpts from Johannesburg-based consulting firm In On Africa’s 2021 African Oil and Gas report. The post Covid-19 period has pushed Africa's oil and gas industry to adapt to a very different paradigm and one revolving around hydrocarbon divestment and increased renewable energy focus. As the pandemic and related financial fallout drove oil prices down and well beyond sustainable thresholds during 2020, projects across the continent were delayed or abandoned entirely. This has been compounded by the growing risks to financing posed by the global divestment movement, with some of the continent's largest financiers announcing a gradual draw down on hydrocarbon financing. One silver lining amid this uncertainty is the renewe...

27Sep

By Africa BusinessNo Comments

Angola News, Energy, Events, Interview

What you need to know about Angola’s premier Oil, Gas and Tech Conference

The upcoming second Angola Oil and Gas Service and Technology Conference (AOTC), is set to run in Luanda from 23-25 November and it’s shaping up to be the event of the year. The event billed as the country’s premier oil, gas and technology conference has once again been endorsed by the Angolan Ministry of Mineral Resources and Petroleum. Given this high-ranking support, it's not surprising that a host of prominent, respected government and industry expert speakers from the oil and gas industry and other private sectors are on the programme. The AOTC was started last year by the Angolan Oil & Gas Service Companies Association (AECIPA) and is again hosted in partnership with the international events organiser GEP. Engineer Bráulio de Brito, the President of the AECIPA and Chairman o...

15Jul

By African Energy ChamberNo Comments

Energy, Green Energy

If you Boycott Africa’s Oil & Gas Sector, Africa will Boycott you

In a move to promote development and end energy poverty by 2030, the African Energy Chamber has announced that it will encourage African countries to boycott companies that boycott African oil and gas. With the international community pushing for a rapid decrease in carbon emissions due to climate change, there has been a significant decline in foreign investment directed towards the African energy sector. The global climate crisis remains a critical point of discussion and should remain at the top of the agenda with regards to energy development, however, as the international community moves to boycott investments in the African energy sector, African people and African development stand to suffer. The role of oil in Africa’s energy and economic future is apparent, and consequently, shou...

25May

By NJ AyukNo Comments

Energy, Green Energy, South Africa News

Net Zero? Not for Africa. Not Yet. Africa Must Fight Energy Poverty with Oil and Gas Development

By NJ Ayuk, Executive Chairman, African Energy Chamber On May 18, 2021, the International Energy Agency (IEA) released “Net Zero by 2050: A Roadmap for the Global Energy Sector,” which outlines plans for the global energy sector to reach “net zero” greenhouse gas emissions by 2050. Achieving net zero emissions means the amount of greenhouse gases being emitted into the atmosphere would equal the amount being removed. Achieving this balance, the IEA maintains, would require more than aggressive carbon-capture measures: It would call for a swift and immediate shift from petroleum energy sources to energy provided through naturally replenished sources like wind, water, and solar power. From an environmental standpoint, this is a great concept. But we live in reality. And today, in real-world...

6Apr

By Africa BusinessNo Comments

Energy

African Energy Thriller Becomes a Wall Street Journal Best-Seller List and tops US Market

Following the widely acclaimed release of NJ Ayuk, Managing Director of Centurion Law Group and Executive Chairman of the African Energy Chamber’s second book, Billions At Play: The Future of African Energy and Making Deals, the resourceful and bold book has become #1 Amazon Best Selling eBook overall, #2 Wall Street Journal Best Selling eBook, #4 USA Today Non-Fiction Business Best Selling eBook and #10 Wall Street Journal Non-Fiction Combined best seller. Billions At Play became number one on Amazon in several categories only a few days after its initial release in 2019, making it one of Africa’s energy best-sellers. This second edition, which opens once again on a foreword by H.E. Mohamed Sanusi Barkindo, Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC) and...

Angolan Legal Reform Shows How Africa Can Use Oil and Gas As a Springboard Towards Job Creation— But Only if It Looks Beyond the Obvious Options

10Jan

By NJ AyukNo Comments

Angola News, Energy

Angolan Legal Reform Shows How Africa Can Use Oil and Gas As a Springboard Towards Job Creation— But Only if It Looks Beyond the Obvious Options

For decades, many of Africa’s oil- and gas-producing states followed a predictable pattern. They treated their oil and gas primarily as raw materials that could be sold abroad for a quick profit, rather than as a means of supporting efforts to make more lasting changes in the economy of the nation as a whole. This pattern has had unfortunate consequences. It discouraged investment in local capacity, and it fostered the development of arrangements under which most residents of the producing states could not see how the large amounts of money earned from oil and gas exports were improving their lives. In other words, it allowed most hydrocarbon revenues to flow back to the home offices of international oil companies (IOCs) or to go to national oil companies (NOCs) that transferred funds to l...