Bracewell’s managing partner in London Jason Fox said this was not new “but the noose is tightening quickly and ESG is the headwind. It’s not just the E that’s biting but also the G, for governance, with banks increasingly retreating from emerging markets because of additional risks, particularly concerns around corruption.”
Treasury has estimated it could “result in around $6 billion in annual savings for the 17 largest net oil-importing African countries. We are seeing examples of emerging markets saving even more by using the price cap to negotiate steeper discounts with Russia. And we encourage more countries to do the same.”
Woodside Energy’s (ASX:WDS) latest production guidance for 2023 has fallen short given delays at new oil projects in West Africa and the US, as well as a maintenance shutdown at the Pluto LNG export complex in Australia.
Europe’s desire to replace Russian gas with African supplies risks slowing investments into renewables, warns a new report from Think Research and Advisory.
African countries face "economic devastation" from climate change, an aid agency has warned as it reveals the scale of the hit from rising temperatures on the continent.
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation.
ONGC Videsh and Indian Oil Corp are in talks to acquire a stake in Tullow Oil Plc’s $3.4 billion project in Kenya, according to people with knowledge of the matter.
Recent world events have shone light on the vital role that energy plays in societies throughout the world. Whilst western powers are dealing with what is rapidly turning out to be one of the worst energy crises ever experienced, poorer nations across the world are increasingly suffering the detrimental costs of climate change, the consequence of the exploitation of fossil fuels and unsustainable industrial practices.
EnerMech is today announcing new contracts worth a total of more than £107 million for work in Africa, the Middle East and Caspian region.
The energy transition is throwing up particular challenges for Africa, not least in terms of access to the skills and capital needed to meet future demand.
The Angolan National Oil, Gas and Biofuels Agency (ANPG) on April 5 opened a tender for eight oil blocks in the Lower Congo and Kwanza offshore basins.
Investments in Africa’s oil and gas risk undermining a move to lower carbon energy sources and are at risk of becoming stranded assets, according to a new report.
The UK has set out its hopes to increase trade links with Africa, not least in the energy sector, although divisions continue over quite how policies should be pursued.
Fugro is transforming its business through a shift to remote and autonomous vessels, with the aim of accelerating decision making – while also cutting emissions.
Africa has suffered in the past as a result of European ambitions and this must not be repeated as the world works out how best to tackle climate change, participants at an Aberdeen University event said.
The UK’s decision to restrict export funding for overseas energy projects is harming the country’s own suppliers, while not having an impact on hydrocarbon use.
BP traders lost $100 million in a “debacle” of a deal with a West African commodities firm, according to details from a London employment lawsuit that offers a rare glimpse into the business on the oil giant’s trading floor.
BP fired an ex-oil trader because he voiced concerns about bribes being paid in Nigeria to secure local contracts, according to a sprawling London employment suit that sheds light on the energy giant’s lucrative trading floor.
Malaysia’s national energy company Petronas is considering selling some of its oil assets to bolster its finances as the federal government seeks a bigger dividend and to help streamline its business for the energy transition. Overseas assets in Africa, Middle East and Southeast Asia could be put up for sale.
A north-east firm that specialises in oil and gas security services is toasting success after one of its bosses picked up a prestigious award.
Only two years ago, Africa seemed set to become the world's next major producer of oil and gas. International companies were scrambling to win exploration rights in frontier markets in West Africa; countries in North Africa were excited about new discoveries in the Mediterranean Sea; and natural gas was identified as a long-term transitional energy source, creating new opportunities for low-income nations such as Tanzania and Mozambique.
Oil majors need to curb emissions in sub-Saharan Africa -- where almost half of their most polluting assets are located -- as investors demand greater efforts to slash carbon output, according to Wood Mackenzie Ltd.
The Netherlands’ FMO has set out a new policy to move away from fossil fuel financing, although leaving open a small window of opportunity for African gas projects.
France is preparing to hold a summit to bolster its economic links with a number of African states.
Among major liquefied natural gas (LNG) suppliers, Qatar, as well as Russia and African producers, look set to benefit from China’s rising demand for the fuel, according to FitchSolutions.