European energy companies that had previously turned away from Africa’s new oil and gas developments – in countries such as Uganda and Namibia – due to the current focus on sourcing clean energy are now seeing a new bankability in the projects.
The report, published on Friday, cited an IEA estimate that by 2030 African sources could replace up to one-fifth of the European gas currently supplied by Russia, representing 30 bcm per year.
The report cited industry executives and African officials, who described an increased interest from investors aware of a new window of opportunity to profit from African hydrocarbons.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.