Deals in Africa: 10 things to watch in 2024
M&A remains an important means for oil and gas companies to access new reserves and opportunities, despite the challenges.
Bracewell
Bigger and always better? For wind turbines, Europe is saying no
“There’s a twofold question for wind turbines of a larger nameplate capacity. Can they be installed? And what is a long-term sustainable market?”
M&A on the rise, Bracewell finds, despite financing squeeze
“Africa is now for African banks and the Middle East is for Middle Eastern banks. The North Sea is the exception, where there is still an active international bank lending market, although with a reduced number of players lending.”
Creating a hydrogen market from scratch
“Price is price is price. The only way to produce hydrogen very cheaply is if you have baseload power 24/7,” Mussat said.
No room to grow, independents face a returns squeeze
“The cost of getting things done is astronomically higher for oil and gas than for the greener projects,” he said. “In the longer term it’s bullish for prices, as not enough investment is going into the areas where it should be.”
More climate litigation coming for directors
“Personal claims against directors may be a potential area of growth. Directors will have to take the threat seriously, as they have an impact on their professional and personal lives,” Calvert warned.
ESG “noose is tightening” on E&P funding, as UniCredit targets cuts
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.”
A challenging year for African M&A
The continent’s two biggest oil producing nations have made recent reforms to their upstream regulatory regimes, which were been long awaited and the changes largely well received.
Egypt flies the green flag ahead of COP27’s arrival in Cairo
Egypt will host the COP27 shindig come November. The country has made clear it is working on bolstering domestic energy production – with a particular focus on clean energy.
Inflation a major ‘stumbling block’ to ramp up of renewables, says Bracewell
It is feared the ballooning cost of raw materials will “definitely be a stumbling block” to the deployment of green energy projects.
Political will and Europe’s energy security challenge
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
Oil companies exploring potential for legal challenge against windfall tax
Leading energy lawyers say clients have enquired whether the government’s windfall tax would withstand legal challenges, as the consultation process draws to a close.
Talking energy security, Namibian hydrogen eyes European role
Europe needs new sources of energy, particularly zero carbon energy, while Namibia offers abundant solar and wind. Can hydrogen bridge the gap, providing scope for both to prosper on the route to net zero?
Solar, hydrogen and storage: a heady mix for the Middle East
The Middle East’s oil and gas has put the region at the heart of the energy sector the last 100 years. These resources, plus plentiful sunshine, will see it continue to play a major role into the energy transition – but there will be bumps along the way.
Higher prices ‘undoubtedly’ encourage investment as North Sea eyes up to 20 billion more barrels
Energy Voice talks to Jason Fox, Managing Partner, London, and Alastair Young, Partner, at Bracewell (UK) LLP on the future of North Sea investment as Brent crude oil remains at around $100.
Challenging policy on climate change grounds
In a recent judicial review decision, two judges in an English court considered an application by Friends of the Earth (FoE) to quash UK Export Finance’s (UKEF) decision to provide export finance to the Mozambique LNG Project.
Clean hydrogen energy transitions: What is the US Congress up to?
As the US Congress has spent the last year debating a slate of proposals to accelerate the transition to a clean energy economy, clean hydrogen has come to the forefront as an energy source that offers a politically and economically feasible path towards decarbonisation.
Kinshasa’s hopes and the coming cobalt crunch
The energy transition is seen as marking a shift away from the “bad old” habits of the fossil fuel industry, but accessing the strategic resources pose their own often-overlooked problems.
Nigeria’s PIA under the microscope
Nigeria has passed its Petroleum Industry Act (PIA), marking a major step in the country’s push to become more attractive as a destination.
Industry chiefs set out future for US energy transition during Energy Voice event
Jobs, financing and green technology in the US were all topics of hot debate during Energy Voice’s New Energy Opportunities (NEO) event yesterday.
Ammonia: the missing link in the energy transition?
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
Nigeria’s PIB heralds progress for royalty payments
The Nigerian Senate and House of Representatives have passed the Petroleum Industry Bill (PIB) in a bid to draw in more investment, from foreign and domestic sources.
Big business making jump to green energy
The energy transition will come in a variety of forms, but playing a critical role will be offshore wind, carbon capture utilisation and storage (CCUS), and hydrogen.
Transition concerns speed fossil fuel development
If energy demand is shifting away from fossil fuels, the most economically rational move for governments is to maximise development of resources now.
UK considers SPAC opportunity as US market booms
Special purpose acquisition companies (SPACs) are having a moment in the sun in the US and the UK is considering how best to secure a piece of the action.