Emissions versus development debate threatens EACOP
Oil companies and environmentalist activists see the same world in wholly differing ways. Rarely is this divide as stark as in discussions around the East African Crude Oil Pipeline (EACOP).
Standard Chartered
Protests disrupt gala dinner at Africa Energies Summit
Protests have disrupted the gala dinner at the Africa Energies Summit, with a group of Extinction Rebellion activists attaching themselves to Gordon Ramsay’s Heddon Street restaurant.
Standard Chartered under fire over Mozambique LNG emissions
Projects backed by Standard Chartered in 2021 will emit 2.3 billion tonnes of CO2 over their lifespan, with Mozambique LNG to play a major part in this.
Stranded asset risk in Africa on the rise
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.
Energy poverty vs ESG emission concerns
Tackling emissions has come to dominate discussions around ESG, driving concerns that progress is slipping on tackling the energy gap that continues in many African states.
African financing faces mounting challenges
International banks are increasingly reluctant to commit to African projects, although domestic banks are growing with an eye on filling this gap.
Banks targeted in StopEACOP campaign
As a final investment decision (FID) looms on Uganda’s oil plans, opposition is targeting financial sources for the export pipeline.
Shell sells OML 17 stake for $533mn
Shell Petroleum Development Co. (SPDC) has sold its 30% stake in OML 17 to TNOG Oil and Gas, for $533 million.
NNPC signs $1.5bn export finance facility
The United Bank for Africa (UBA) has participated in a consortium to lend $1.5 billion to Nigerian National Petroleum Corp. (NNPC) and its upstream Nigerian Petroleum Development Co. (NPDC) unit.
BP backs away from frontier exploration
Despite challenges thrown up by the coronavirus outbreak, BP’s production in Africa was largely unchanged, although exploration and development has been pushed back.
Nigeria feels the pinch
Nigeria is under particular strain as a result of the low oil price crisis, industry participants said during a webinar, demonstrated by a government decision to plan for $20 per barrel oil.